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    TRUE   TH0375010Z06

TRUE CORPORATION

(TRUE)
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True : Thailand’s CP Group expands e-commerce with purchase of HK-based Chilindo

08/07/2020 | 06:59am EDT

BANGKOK, Aug 7 (Reuters) - Thailand’s top agro-industrial conglomerate, Charoen Pokphand Group, said on Friday it will buy Hong Kong-based e-commerce platform Chilindo for $18 million, expanding its digital business as consumer behaviour changes.

The acquisition by the company's digital arm, Ascend Commerce, will complement its online shopping WeMall platform and develop Thailand's digital economy as the e-commerce market grows amid the novel coronavirus pandemic, chief executive Suphachai Chearavanont said in a statement.

WeMall competes with Alibaba’s Lazada, Sea's Shopee and JD Central, a joint venture between top retailers, Central Group and JD.com.

Thailand is well-known for online shoppers buying directly from merchants through social media platforms like Instagram.

"Chilindo’s plan to enter the international e-commerce market will increase the ability of Thai e-commerce brands to compete on an international level," Suphachai added as telecommunication operators roll out 5G technology.

CP Group owns Thailand’s second-largest telco operator, True Corporation Pcl, which won 5G licenses in February. (Reporting by Chayut Setboonsarng Editing by Robert Birsel)


© Reuters 2020
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More news
Financials
Sales 2021 142 B 4 495 M 4 495 M
Net income 2021 -526 M -16,7 M -16,7 M
Net Debt 2021 271 B 8 622 M 8 622 M
P/E ratio 2021 -157x
Yield 2021 0,44%
Capitalization 111 B 3 536 M 3 538 M
EV / Sales 2021 2,71x
EV / Sales 2022 2,65x
Nbr of Employees -
Free-Float 54,6%
Chart TRUE CORPORATION
Duration : Period :
True Corporation Technical Analysis Chart | TRUE | TH0375010Z06 | MarketScreener
Technical analysis trends TRUE CORPORATION
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 3,48 THB
Last Close Price 3,34 THB
Spread / Highest target 61,7%
Spread / Average Target 4,12%
Spread / Lowest Target -39,5%
EPS Revisions
Managers and Directors
NameTitle
Suphachai Chearavanont Chief Executive Officer & Director
Anat Mekpaiboonvatana Co-President
Sarit Jinnasith Co-President
William Harris Group Chief Financial Officer
Dhanin Chearavanont Chairman
Sector and Competitors
1st jan.Capitalization (M$)
TRUE CORPORATION-2.91%3 479
VERIZON COMMUNICATIONS-3.59%234 038
CHARTER COMMUNICATIONS, INC.4.46%130 378
CHINA MOBILE LIMITED7.13%125 255
DEUTSCHE TELEKOM AG18.74%100 363
NIPPON TELEGRAPH AND TELEPHONE CORPORATION7.81%94 525