Stocks in the news (aq, arrow, bcp, beauty, css, drt, emc, erw, estar, gunkul, kkc, ktb, malee, match, mdx, mill, pjw, samart, sithai, tmb, uwc) 08.07.15

AQ says AQ Aria Asoke, valued at 1.6bn, sold out within 1 week after launch. It plans to launch new projects focused on single detached houses and townhomes. (Khao Hoon, 08/07/15)
Comment: Location is still the most important part of property regardless of the brand name, AQ has done a decent job getting its projects up and running but still worried re its valuaton

ARROW expects 3Q15 earnings to mark a record high with 25% gross margin backed by implementing cost controls and stable materials cost. It expects 2015 revenue to achieve target. It expects to get Bt20mn from selling pipe for underground cable in 3Q15. (Thun Hoon, 08/07/15)
Comment: Arrow has been on such a run for the past few years, we do wonder aloud if they have the necessary capacity to match all the potential projects

BCP expects 2Q15 earnings to grow aided by refinery margin and stock gain. It targets power plant capacity of 200MW this year. (Khao Hoon, 08/07/15)
Comment: Just like every other industrial related co, they’ll have profits in 2q as a result of stock gains, 3q however now looks to be unfolding the other way

BEAUTY plans to broaden its market to Indonesia, expected to be clear in 2H15. It expects 2015 revenue to increase 20% thanks to strong demand. (Thun Hoon, 08/07/15)

CSS says it is ready to invest in waste and solar power plants. It expects 2015 revenue of Bt5bn backed by Bt1.8bn backlog. (Thun Hoon, 08/07/15)

DRT expects exports to increase to 15% upon depreciation of the baht. It expects 2015 revenue of Bt4.25bn (4% growth). (Thun Hoon, 08/07/15)
Comment: The domestic market isn’t helping DRT’s revenue @ all, and while yes the export market is their main growth it’s still an incredibly small part of its overall revenue

Management says 101 units of Landmark Mahachi Lifestyle Mall, valued at Bt1.25bn have been booked by 100 clients. (Khao Hoon, 08/07/15)

ERW expects to benefit from Chinese and US tourists. It plans to invest in five more HOP INN Hotels this year. Construction of its HOP INN in the Philippines is expected to be completed in 2016. (Thun Hoon, 08/07/15)

ESTAR expects 2015 revenue of Bt2.5bn on booking Bt4bn from Star View in 3Q15. It expects backlog of Bt5bn and plans to launch new condominiums over the remainder of the year. (Khao Hoon, 08/07/15)
Comment: The company still has one of the most undervalued land banks in Thailand today, but the question is always going to be when are they going to be able to monetise it.

GUNKUL board has approved a capital increase of 274mn shares, expecting to get Bt4bn. It will seek approval of shareholders on Aug 19. (Khao Hoon, 08/07/15)
Comment: As I’ve mentioned over and over again, gunkul is on a warpath to get stakes in projects but the capital increase was a necessity

KKC plans to expand into the power business soon. 2Q15 earnings are expected to be good, benefitting from numerous orders for air conditioner coils and compressors. It is budgeting Bt300mn to increase capacity. (Thun Hoon, 08/07/15)

KTB says MYR1mn debenture offered to Malaysian institutions has sold out. It is confident it has strong reserves (Tier2). (Thun Hoon, 08/07/15)
Comment: Only 1 mn MYR? Thats nothing.

MALEE plans to introduce new product lines this year, expected to add 10% to revenue. 2Q15 profit is expected to be good thanks to the baht depreciation which increased export revenues by 20%. (Thun Hoon, 08/07/15)
Comment: They have the necessary capacity to grow another 100%

MATCH plans to restructure business by cutting high-cost TV programs and focusing on daytime content. It has launched a new TV program, “Imm Mee Pee Mun” which is expected to contribute revenue in 2Q15. (Khao Hoon, 08/07/15)

Chinese and local investors are interested in becoming partners for power plants in Cambodia and Laos. A 500MW power plant investment with GPSC has already been granted its EIA. It is confident it has enough funding for an 850MW power plant. (Thun Hoon, 08/07/15)

MILL is talking to a prospective partner to invest in the solar business, expected to be finalized within a few months. It plans to issue 500mn shares via PP. It expects 2015 revenue of Bt16bn with a jump in net profit backed by extra gain from Kobe Steel. It expects to wipe out Bt500mn retained losses. (Thun Hoon, 08/07/15)

PJW revised up 2015 target growth from 10% to 15% backed by high orders and recovery in the auto sector. Its backlog is expected to increase from Bt250mn from car new models. (Thun Hoon, 08/07/15)

2H15 revenue is expected to turn around backed by revenue growth from SIM and SAMTEL. It plans to rebrand and invest in the power business, which it expects to clear in August. It is talking to prospective partners to invest in 1-2 waste power plants. It targets 2015 revenue of Bt30bn. (Khao Hoon, 08/07/15)

SITHAI expects to show a net profit this year. It plans to invest in 10MW power business, budgeting Bt600mn. (Thun Hoon, 08/07/15)
Comment: Next year’s listing of it Vietnam unit will be interesting.

TMB’s CEO is confident 2Q15 provisions will be less than 1Q15. It targets 5-6% loan growth this year with NPLs at no more than 3%. (Khao Hoon, 08/07/15)
Comment: Really?! Only 3%? Or is this b/c they have already provisioned a silly amount on the past few years.

UWC expects 2015 revenue of Bt1bn backed by selling telecommunication towers and its power business. It is talking to buy 14 power plants with 140MW capacity which is expected to be cleared in September. (Khao Hoon, 08/07/15)

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