Reporters reported that today (Aug. 25, 2023) the stock priceJasmine International Public Company Limited or JAS At 10:17 am, it was 1.95 baht, plus 0.13 baht, the highest price was 1.95 baht, the lowest price was 1.86 baht, or 7.14% with a trading value of 44.06 million baht. Investors are expected to receive an interim dividend of 2.25 baht per share after the deal is closed. Selling shares of 3BB-JASIF over 32 billion baht within the 3rd and 4th quarters
Dr. Prawit Leesathapornwongsa, Chairman of the Sub-Committee on Consumer Protection and Civil Rights disclosed to “New Hoon Business” that all 3 subcommittees are the Consumer Protection and Civil Rights Subcommittee. Legal Subcommittee and the Subcommittee on Technology Has resulted in a summary of the focus group in the case of a business combination between Advanced Wireless Network Company Limited (AWN), a subsidiary of Advanced Info Service Public Company Limited or ADVANC, and Triple Company Limited. Latee Broadband Public Company Limited (TTTBB) or 3BB with suggestions. The Office of the Broadcasting Commission television business and the National Telecommunications Commission or the NBTC.
The sub-committee on economics (Academic group) is expected to be submitted by the end of this month. or at the beginning of September After completing the focus group yesterday (24 Aug.)
“All 4 sub-committees have completed focus groups. It is expected that it will be sent to the NBTC to collect information and send it to the NBTC board soon in order to include it as an agenda for the board to vote on, ”said Dr. Prawit.
Mr. Phisut Ngamwijitwong, senior director Securities Analysis Department Kasikorn Securities Public Company Limited expects that Jasmine International Public Company Limited (JAS) will announce an interim dividend payment. After the NBTC board approves AIS to buy shares of 3BB and JASIF worth more than 32 billion baht, which will happen in September. (Q3/2023) or at the latest this October (Q4/2023), similar to the case of Intouch Holdings Public Company Limited or INTUCH paid to Thaicom Public Company Limited or THCOM after Intouch sells Thaicom shares to Gulf Energy Development Public Company Limited or GULF.
According to the preliminary assessment, JAS will be able to pay dividends of up to 2.25 baht per share, or approximately 19 billion baht, after paying debts of more than 10 billion baht and taxes.
In addition, after receiving 32 billion baht from the sale of shares, it will help unlock the “C” sign as shareholders’ equity will turn positive. Trading volume will increase. Because the margin can be used by recommending “Hold” JAS shares with a target price of 2.25 baht, while yesterday’s closing price was 1.82 baht, down 1.62% with a trading value of 38 million baht.
As for the results of the Extraordinary General Meeting of Shareholders of JASIF, it has approved the termination of the income guarantee agreement in exchange for the renewal of the main lease agreement. It will reduce JAS’s rents in 2024-2025 by Bt3.3-3.4 billion, which will turn around JAS’s profitability and restore its cash flow.
In summary, JAS’s net D/E ratio will decrease from 41.42 times in Q2/2023 to 4.74 times in Q3/2023, while JAS’s share value will increase to 3.9 times of Paid-up capital from 0.15 times earlier, while JAS stated that the sale of 3BB and JASIF shares worth 3.2 billion baht would have a profit of about 2.5 billion baht.
Mr. Kornphat Worachet Director of Research and Investment Services Krungsri Capital Securities Public Company Limited has a “positive” view on Advanced Info Service Public Company Limited (ADVANC) regarding the positive developments in both the 3BB acquisition deal and the Broadband Internet Infrastructure Fund. Some parts of Samin or JASIF and a progress deal from becoming a 700 MHz alliance of National Telecommunication Company Limited or NT are looking upside from the issue of JASIF unit holders accepting a positive lease agreement at around 2.7 baht/month. shares from the 2024 target price of 264 baht/share, looking at the Office of the Broadcasting Commission television business And the National Telecommunications Commission (NBTC) has agreed to allow NT to transfer ownership of 700 MHz spectrum.
However, looking at the benefits on the side of ADVANC, there are 2 main parts: 1) gaining 5G efficiency on low-frequency spectrum, increasing from the current 700 MHz spectrum, 15MHz, and 2) using existing telecommunication resources more efficiently from providing NT. While the NT side will benefit in terms of investment through the use of assets and other 5G waves of ADVANC, fundamentally still weighting profits in the second half of 2023 that are seen to be better than the first half. The 3Q/2023 norm profit momentum is expected to continue to grow from the previous year in line with the monthly service charge rate (Blended ARPU) for both mobile and home broadband internet that will fully recover. with a decrease in electricity cost per unit of 5% from the same period last year and 6% from the previous quarter. However, we maintain our Buy recommendation with a target price of Bt264/share.
Krungsri Capital Securities Public Company Limited recommends “BUY” on shares of Jasmine Broadband Internet Infrastructure Fund (JASIF) with a target price of 8.30 baht after the resolution of the JASIF unitholders’ meeting on August 23, 2023. Approved to amend the contract and relaxation of a break from rent payments
From the said resolution We are optimistic about JASIF’s recovery as concerns about Triple T Broadband Public Company Limited’s (TTTBB) (3BB) rental payments have eased, but there are still issues to monitor. Is the consideration of the Broadcasting Commission. television business and the National Telecommunications Commission (NBTC) regarding the transaction, Advanced Info Service Public Company Limited or ADVANC purchases TTTBB.
However, clarity will occur within the 4th quarter of 2023. Initially, the contract with new conditions will come into effect in October 2023. Therefore, the revenue and profit forecast according to the new contract has been revised, resulting in the year 2023 paying dividends at 0.78 baht per unit. (yield 11%), for 2024-2031, dividend payment per unit of 0.60 baht (average yield of 8.8%) and in 2032-2038, dividend payment per unit of 0.63 baht (average yield of 9.2%), including the valuation of the target price for the year 256 at 8.30 baht (according to new contract estimates)
by adjusting the recommendation to “buy” from the original Trading Buy for JASIF from the worry about TTTBB’s rental payments and the new dividend projection that yields an average annual return of 9%. Negotiate for a reduction in loan interest rates after changing Sponsor to ADVANC
2023-08-25 03:33:08
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