Stocks in the news (bam, bcp, bki, chayo, noble, scb, tk) 12.03.20
BAM may book Bt5.9b tax gain (DTA) this year, boosting overall net profit to Bt10b this year, Tabloid.
Comment: This was supposed to be done in 4Q19, much to the surprise of all the IPO investors it didn’t happen
BCP shuts refinery’s canteen for 14 days aft discovered QC inspector infected Covid-19, arranges big cleaning entire site.
BKI reports corona insurance sold 100k contracts within week as fear spiked from the virus, expects momentum continue on strong demand for protections.
CHAYO pays Bt0.0037037 cash and 15:1 stock dividend, free warrants (CHAYO-W1) 3:1 to existing holding, XD May 13.
NOBLE firms on FY20 launch plan 7 projects worth Bt25b, target sales topped Bt12b, 80% of Bt17b backlog to realize this year.
Comment: Brave souls
SCB announced share buy back up to 135.96m shares or 4% of paid-up, Bt16b budget from April 20 till October 19.
Comment: And another one!
TK expected to wrap up M&A Myanmar micro finance business by end of month, aims to boost loan from abroad from current 18% of total loan book, target steady NPLs at 4.5% by end of year.
Comment: This could be interesting, even GL (yes yes I know it has a storied history) has done well there.
Xavi
The speed of this correction has been phenomenal, unlike 2008 which was a relatively slow 12 month bleed in comparison.
Pon
Well that Lehman blow up was a violent 1 day affair from what I remember.
But yes this has been a @#$$ing fast drop.