AQ expects net profit this year after 2014 net loss of Bt285.61mn on backlog of Bt300- 400mn. It plans to launch a new project “AQ Shadi Phaholyothin-Rangsit” in 2H15. (Thun Hoon, 30/09/15)
Comment: Despite the quality of its projects, the stock is rather expensively valued.
BECL expects the cabinet will okay the merger with BMCL in October. It expects BEM (Bangkok Expressway and Metro Plc) will begin to trade in January 2016. (Khao Hoon, 30/09/15)
Comment: There’s nothing new here in terms of stories nor valuation, in the end its a good move for CK to not have to inject additional capital into BMCL
CHOW has done a JV with BCP to invest in a 50MW solar power plant in Japan. It will invest no more than Bt380mn. (Khao Hoon, 30/09/15)
DRT expects sales to peak in 2016 although 2015 sales may be hurt by the economic slowdown. It plans to expand abroad. It targets exports to comprise 30% of revenue within three years. It expects to benefit from the government’s stimulus. (Thun Hoon, 30/09/15)
Comment: That’s rather ambitious by DRT, unless the Thai portion of the business is going to collapse.
EPG expects 2QFY15 net profit to mark a record high of Bt317mn backed by numerous orders. (Khao Hoon, 30/09/15)
Comment: They are in the enviable position as a niche product company that effectively is in everyone’s lives (i.e. cars, food packaging etc. etc)
HEMRAJ has signed a contract to sell 33 rai in Hemraj Industrial Estate Chonburi2 to Wide Faith Foods. This land will be the third health snack plant with capacity of 30,000 tons/year. (Thun Hoon, 30/09/15)
KCM plans to acquire 30% in an iron roofing company which is expected to be done by January 2016. It expects 2016 earnings to be good, backed by stimulus. It expects 2015 revenue to be close to last year’s Bt690mn. (Thun Hoon, 30/09/15)
MCS got a 200,000-ton steel order from a Big 4 contractor in Japan backed by high demand. It expects 3Q15 earnings to grow 3000%. It expects net profit to make a high not seen for five years. (Thun Hoon, 30/09/15)
Comment: Their business is well taken care of the foreseeable future, the only question now is what will MCS do with their cash on the b/s?
ML expects 3Q15 earnings to be better than 2Q15’s aided by loan expansion from the stimulus measures. It expects its loan portfolio to end the year at Bt3bn. It plans to start nanofinance in 4Q15. (Thun Hoon, 30/09/15)
POLAR will increase capital via POLAR-W4. It plans to list subsidiary “Platinum Auto Service” soon. (Thun Hoon, 30/09/15)
RATCH has increased capacity by 3,500MW to 9,700MW. It expects to increase its enterprise value by 2.5-2.6 times, from Bt118bn last year to Bt282bn by 2023. It expects to bid for a 2,000MW coal power plant in Indonesia in October. (Khao Hoon, 30/09/15)
SIRI expects 2015 revenue of Bt36bn backed by Bt600mn presales from NOW OR NEVER campaign which raised its September presales to Bt1bn. (Khao Hoon, 30/09/15)
Comment: We do wonder aloud what the impact will be on their gross margins with all of these discount sales
STEC hit by delay in Parliament building project because of problems with land transfers from Yothinburana School. It expects to book a loss of Bt1bn. (Khao Hoon, 30/09/15)
T plans to acquire property for rent in Thailand. It expects working capital to increase more than Bt3bn backed by increasing capital via PP. It expects to show net profit in 3Q15 from 3Q14 loss of Bt95.26mn. It expects to get Bt2bn projects which will raise its backlog. (Thun Hoon, 30/09/15)
Comment: New shareholder? Where is the Srichawla Group? Whatever happened to this massive hotel acquisition in the UK?
TRUE has been granted right to broadcast Thai League games for four years (2017-2020), valued t Bt4.2bn. TRUE shares will be traded at the new par of Bt4/share on October 1. (Khao Hoon, 30/09/15)
Comment: Well that’s one way to wipe out some equity losses, and we now think CTH is probably regretting its move to have paid so much for the Premiership rights a few years ago.
TVO expects soybean pulp price to grow 8-10% aided by high demand for feed. It expects a net profit margin of 11-12% this year. (Thun Hoon, 30/09/15)