Than Hoon – UOB Securities Kay Hian (Thailand) recommends buying shares in Minor International Public Company Limited or MINT with a target price of 43 baht per share, seeing that MINT’s earnings will grow more than competitors in the short term. Since the company has a proportion of income from developed countries. With a vaccination rate of over 60% and a high vaccine supply, MINT is on a clear recovery path with a return to social activities around the world.
Research Department of UOB Kay Hian stated that MINT’s hotel business continues to recover. reflecting improved travel demand After the global vaccination rate has accelerated. The strong recovery is driven by strong performance in Europe and the Maldives and a significant increase in the number of operating hotels. Hotel occupancy rates in the modern period continued to accelerate to 60-70% in October and early November, compared to 49% in 3Q21. Thailand is likely to see a significant recovery following the easing of nationwide lockdowns. Therefore, the hotel business is expected to recover strongly in 4Q21.
The food business also improved in 4Q21 as restaurants in Thailand accounted for about 75% of all restaurants. It is expected that same-store sales growth (SSSG) and sales growth of MINT’s TSSG system will recover significantly. After easing restrictions on eating in restaurants and social activities in September 2021
MINT share price last closed at 32.75 baht minus 0.50 baht or 1.50% with a trading value of 440.99 million baht.
