BEC World shares surge following return of morning news star Sorayuth Suthassanachinda

Shares of BEC World (BEC), Thailand’s second-largest terrestrial TV operator, rose over 9 per cent on Tuesday after the return of its famous morning news anchor, Sorayuth Suthassanachinda.

BEC’s price peaked at 14.50, an increase of 9.02 per cent, before falling back to 14.10, but up 6.02 per cent, as of 3 p.m., with a transaction value of 593.7 million baht.

Analysts at Bualuang Securities expected the company’s results to turn around after posting losses for a third consecutive year, thanks to revenue recovery and the reappearance of Sorayuth, which could help attract more viewers.

Sorayuth returned to the news program last month after being released early from an eight-year sentence. Last year, Sorayuth was found guilty of embezzling 138 million baht from the state-run MCOT. In March, he was granted parole after serving 14 months.

“With Sorayuth’s return, the ratings of the เรื่องเล่าเช้านี้ [Morning News] program rose by 80 per cent,” said BEC executive Piriyadit Choophungart, who expects the advertising revenue to grow more than 10 per cent annually.

He said that BEC’s monthly users, via its online platform CH3 Plus, also grew 200 per cent (from 3 million to 10 million users per month).

Bualuang analysts forecast a 541 million baht net profit for BEC in 2021, compared to a loss of 214 million baht in 2020, pointing out that the company faces little impact from the Covid-19 outbreak since people spend more time at home.

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