SCBS 30/11/2564 : Analyst meeting ACE 10.30 and TU 14.00 /MSCI Semi annual Index Review to be effective on Dec.1.2021***

***Warning for THANI possible downgraded/BEACH stocks.

***Strategy 1Q’22 : SET Index target at 1,660 with Top picks Prefer ADVANC AH BLA KBANK NYT.

: 2022 Economic forecast : Base case 2-4-4-8 : Export 2%, Private consumption 4%, GDP 3.6%-4%, Tourism arrivals 8 mil.

***Omicron impact assumption : Best case no more lockdown 30%/

Base case lockdown 1-2 mths impact to GDP +2.9% Tourism down to 6 mil./

Severe case : lockdown 2-3 mths impact negative to GDP to +2.5% and consumption. Tourism down to 4 mil.