2Q21F to be a lacklustre quarter
■ We forecast True Corporation (TRUE) to report a 2Q21F core net loss of
THB480m (vs. THB450m core net loss in 1Q21).
■ 2Q21F service revenue should be unexciting (-0.1% qoq) due to drag from
mobile revenue (-0.8% qoq).
■ Reiterate Hold, with an unchanged DCF-based TP of THB3.20.