Stocks in the news (asian, cpn, crc, rml, siri) 17.04.20
ASIAN anticipates 2Q turnaround from recovery pet food sales and frozen food aft China reopens, allots Bt230m budget to revamp production line and cold storage, maintaining 20% revenue growth target.
CPN in co-operation with Internal Trade Dept prepares a space for free for farmers to sell their products during April 15-30 at various locations.
CRC is enacting a host of changes to its stores, including placing sales counters wider apart, in anticipation of reopening of business next month.
Comment: Should you believe in efficient markets, CRC should’ve been trading at THB 1/share. But we invest on hope hence why its still where it is today.
RML rolls out One Price campaign for 9 luxury condo projects, 6 ready to move in & 3 new launch, expects positive feedback from tangible inventories as buyers mitigate risk from incomplete projects.
Comment: Cash cash cash, that’s the strategy these guys should be taking. But too many players are, as a friend says, “true believers”
SIRI revised up 2Q sales target to Bt10b from Bt8.5b after book Bt2.5b sales in opening 2 weeks of the quarter driven by 24mth free installment campaign.
Comment: See above, installments don’t mitigate the need for cash.