Broker expects SCGC-PTTGC JV to be clearer in September, supporting SCC shares

Analyst

โดย thunhoon.com·

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Summary · why it matters

Finansia Syrus Securities expects the establishment of a joint venture (JV) between SCGC, under SCC, and PTTGC to become clearer this September, which will be a factor supporting SCC shares. The JV will help increase business scale and efficiency by combining the strengths of both parties. Meanwhile, it is expected that the Rayong Olefins plant (ROC) will resume operations in September 2026 after a temporary halt due to force majeure, helping reduce fixed cost burden. The ethane feedstock conversion project of LSP in Vietnam will be a medium-term driver from the second half of 2027, with ethane costs about $200 per ton lower than naphtha. The research department maintains a "Buy" recommendation and a target price of 312 baht, while expecting normal profit for 2026 at 26.6 billion baht, growing 89% from the previous year.

The Siam Cement Public Company Limited ▲

PTT Global Chemical Public Company Limited ▲

Impact on stocks 2

Climate Adaptation & Water▲ · 1 stocks

The Siam Cement Public Company Limited

▲ PositiveCapitalrelevance

Broker maintains Buy and 312 baht target on SCC, citing clearer SCGC-PTTGC JV, ROC restart, and LSP ethane project as drivers.

Materials▲ · 1 stocks

PTT Global Chemical Public Company Limited

▲ PositiveCapitalrelevance

JV with SCGC under SCC will combine strengths and increase business scale/efficiency for PTTGC.

Off-coverage companies 1

SCG Chemicals Public Company Limited (SCGC)Private▲ Positive

Capitalrelevance

SCGC's JV with PTTGC expected to become clearer in September, boosting scale and efficiency.