TTA shares fell more than 4% after the 125 Sathorn project failed to pass EIA.
TTA shares or Thoresen Thai Agencies Public Company Limited dropped more than 4%, affected by the 125 Sathorn project not passing the EIA. As of 11.44 a.m., the price moved at 5.75 baht, down 0.25 baht, while Price adjusted to lowest 5.60 baht
Phillip Securities stated in its analysis that The Central Administrative Court has ordered the revocation of approval of the EIA report and construction permit of the 125 Sathorn project, which is operated by PMT Property Company, a subsidiary company. Thoresen Thai Agencies Public Company Limited (TTA) holds 60% of the shares and has 2 other partners holding a total of 40% of the shares.
The cancellation of the EIA was caused by "The Met" project, which is in the same area, filing a lawsuit against several government agencies involved in approving the EIA report and issuing construction permits for the project. such
สำหรับProject 125 Sathorn Construction began in February 2566. The construction was in accordance with the EIA plans and specifications and pre-sale has reached approximately 30%.
The value of the project is 8,000 million baht, according to the plan to launch the project for sale in the 4th quarter of 69, which will delay the sales plan. and no income from the said project has been recorded yet.
Picture from 125sathorn.com
TTA has 2 approaches:
- Appeal to the Supreme Administrative Court of the committee that issued the EIA report, which is directly sued in connection with the issuance of a license, or
- Request to submit a new EIA
Phillip Securities views that even though the project has not yet generated any income for TTA, the revocation of the EIA and the construction This causes uncertainty in the project. This may have an impact on TTA if the project cannot proceed. In the short term, you may avoid such news for now. But in the long term it is still recommended. "buy" From the recovering business of MML and shipping, base price 8.60 baht.
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