In today’s briefing:
- SCC: SCGC’s Spin-Off Moves a Step Closer
SCC: SCGC’s Spin-Off Moves a Step Closer
- Maintain BUY rating with a TP of Bt445.00, based on 13.7xPE’22E, which is close to its 10-years trading mean.
- Unlock value potential through SCGCs IPO, citing a stronger position in PE/PP/PVC, fuel by solid olefins demand in Vietnam and Indonesia, increasing HVA products and Vinyl.
- LSP project is on planned at 93% completion, which is expected to COD in 1H23. We view the new capacity to come into operation in times of better petrochemical outlook.
Before it’s here, it’s on Smartkarma
