Green Energy and EV Car : Trading Buy EA tp Bt 55 / Overweight Energy Petrochem +PET/PRA spread ***Prefer PTT IVL

Regional flow Sell Korea most vs no Inflows / THRE Neutral tp Bt 1.20 / Trading FTSE SET Large Cap Index 21 Dec. + SCGP DELTA

SCB EIC Econ.outlook 2021 ***MS Team on 17/12/2563 at 16.00 pm***Tourism’21 at 8.5 mil.person/ Thai Interest rate unchanged at 0.5% and Fx THB/$ at 29.5-30.5***Prefer Cyclical Energy Petro and Commerce

Buy SPALI target price Bt 21.50, best 4Q’20 from 9 low rise projects and better 2021 high backlog/ 60% secured revenue and solid cash flow*** SPALIRT to list IPO by end 2Q-early 3 Q’21 to boost extra gain Bt 1500 mn to SPALU ***PET/PTA spread mark up +IVL

Overweight Commodity Cyclical Buy PTT BCP RATCH / TNP IP

Buy BLA tp Bt 25 better ROE/ THREL Buy tp Bt 3.70 on Earnings turnaround / Cautious BTS/BEM on negative overhanging factor.

SCC Neutral tp Bt 430 and NRF Neutral tp Bt 6.50 (rollover to 12 mth target) better growth play but cost in THB, every Bt 1/US$ to impact Earnings by 11%

SCC Outperformed tp Bt 430, 4Q’20 Earnings preview Bt 7,000 mn+/- with MOC shutdown 45 days vs upside from Petrochem spread PE naphtha $ 640 vs mkt assumption $ 470***SCBS prefers Food Commerce Energy/Utilities Insurance

SCBS Warning call for SET Index target’20 at 1350-1300 vs Early 2021 Peak at 1450. 9 Dec.BOT to announce Fx measure Today CPF NDR Group meeting with Khun Kobboon via MS Team at 16.00-17.00

GS downgraded PTTGC to Neutral from Buy***SET Index targer’21 at 1400 Buy only BBL PTT