Shares in the Jasmine International Public Company Limited (JAS) group today have fallen somewhat from the past period, the stock price has run very hot, especially Jasmine Technology Solutions Public Company Limited (JTS) shares that have turned Come to do bitcoin mining business from July 64, the share price swings in the range of 40-50 baht, rising more than triple to 180 baht (as of 18 Jan. 65), while JAS shares I myself began to see speculation coming in from mid-December 64 until yesterday (as of January 17, 65) made a new high at 4.08 baht.
The share price of Mono Next Public Company Limited (MONO) has been speculative since the end of last week, and the Jasmine Broadband Internet Infrastructure Fund (JASIF) price rose last Friday.
Mr. Kitphol Praipaisalkit, Director of Analysis and Strategy Department, UOB Kay Hian Securities (Thailand), said about the price of the JAS group that there are 2-3 issues of speculation, namely the issue of selling the Triple business. T Broadband (TTTBB) to Advanced Info Service Public Company Limited (ADVANC) because it is expected that ADVANCE wants to increase its broadband business portfolio to be able to compete with TRUE with DTAC or has the opportunity to buy from JAS, causing the price of JAS to increase. a lot
The next issue is expected to be the speculation of JTS business, which enters bitcoin mining. Currently, the market value of JTS is bigger than JAS parent company and another issue May speculate on JAS’s earnings after late 64 adjustments on asset aging policy likely to lead to asset valuation After this, the operating results should be better that will reduce the depreciation expense.
“I think it’s from 3 things. The market doesn’t know where it came from. I think JAS is interesting. Even though there is speculation The business also generates good cash flow. Looking at the past dividend payment, paid 0.20-0.25 baht from a share price of 4 baht, it has a yield (Yield) 4-5 %, still speculating at a yield of 5%, which helps support the downside “
Nomura Securities Pattanasin said in the analysis that JAS reported that it did not operate or develop the sale of its broadband business. The news is expected to have negative sentiment on JAS as JAS has traded on expectations of selling its broadband business TTTBB rather than fundamentals. causing the share price to fluctuate according to the news
In comparison, the merger deal between TRUE and DTAC is the highest valuation of JAS in the event that it is based on news based on EV/EBITDA approximately 7-8 times. It is expected that JAS share price has the opportunity to trade in a frame of 4-5. baht
Based on fundamentals, JAS maintains its view. If it comes to selling broadband business, there are important variables which are The purchase price agreed by both parties. In addition to the fact that most of JAS’s assets were sold to JASIF and TTTBB, they have to pay rental fees of more than 10 billion baht per year to the Fund. according to the terms of the long-term lease Including the agreement between the Fund and JAS regarding the shareholding in TTTBB is an important factor that must be taken into consideration.
Recommend Neutral for JAS (Targeted at Bt3.20). Based on fundamentals, JAS expects operating losses in 2022-23 as core business revenues do not keep up with the impact of TFRS 16. However, the impact is likely to decrease. In addition, the company pays attention to efficient cost and expense management. as well as to increase the source of income Consequently, it is expected that the loss will decrease to -1,075 million baht in 65 and -359 million baht in 66, as well as having a better capital base to pay dividends again.
ราคาปิด
หุ้น 30 ก.ย.64 30 ธ.ค.64 17 ม.ค. 65
JAS 2.86 3.50 4.08
JTS 52.75 131.00 181.00
MONO 1.50 1.52 2.66
JASIF 10.00 10.30 10.70
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