HoonSmart.com >> food stocks M AU ZEN OISHI MINT and CENTEL affected by the BMA order not to eat in the restaurant from 19.00 – 06.00 from January 5, 64
Finansia Syrus Securities estimates that the Bangkok Metropolitan Administration (BMA) order that has passed a resolution prohibiting sitting in restaurants from 19.00 – 06.00 can only serve take-out services, effective from January 5. . 2021 onwards is negative on food stocks.
It consists of M AU ZEN OISHI MINT and CENTEL, although it is limited to the restaurant serving time, but it is Peak Hour as it is dinner. And especially Monday – Friday Which is the time after work
For M, there are a number of branches in Bangkok. 135 branches (only MK stores), accounting for 29% of all branches. Expected income proportion of branches in Bangkok approximately 30-32% of total income, estimated income per day, approximately 80-90%, derived from 2 periods, 11:30 a.m. – 2:30 p.m. and 6:00 p.m. – 9:00 p.m.
And if calculating only during the evening 19.00-21.00 (usually the kitchen shop closes at 9:00 p.m.) by using the assumption that it has been closed for 1 month, it is expected to affect approximately 1% of the total annual income (if the closing 2 months is expected to affect 2% ) Will affect this year’s target price 0.75 baht / share from the present at 63 baht
M’s recovery will falter in the short term. (But I do not think that it will be bad to return to loss) and the share price has been pressured by the Covid control measures that have to be monitored. But we still look positive for the medium to long term and believe that after Covid resolves, it will recover faster (like in 2Q20-3Q20), while liquidity is very good, not worrisome. No debt with interest paid at all. And had 6.8 billion baht in cash on hand
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