AP reports presales of Bt22.3bn for 9M15 (28% growth from last year). It plans to launch five new projects valued at Bt5.33bn in 4Q15. (Khao Hoon, 07/10/15)
Cabinet has approved using the Joint Venture 2013 ACT, which allows MRTA to look for a operator for the extension Blue Line by direct negotiations. BMCL is expected to be a candidate. The Ministry of Transport expects no delay because Somkid Jatusripitak is chairman of PPP. (Khao Hoon, 07/10/15)
Comment: Direct negotiations with one of the two mass transit operators, sounds like a laugh.
CFRESH expects 3Q15 net profit of Bt113mn (+200%YoY) thanks to the weaker baht. It expects 4Q15 earnings to be the best of this year. (Khao Hoon, 07/10/15)
GFPT revised down 2015 revenue growth from 7% to 5% because of excess supply. It expects 2H15 performance to be better than 1H15 aided by seasonality for exports especially to Japan and the EU. (Khao Hoon, 07/10/15)
Comment: Now we do wonder aloud how the TPP will impact Thailand and its industries that export to the same nations such as Vietnam, Malaysia etc etc
KTC expects 3Q15 earnings to be higher than Bt527mn (+4.6%) aided by 13-14% growth in credit card spending. It expects provisions/NPL to be high at 393%. It expects performance to be good in 4Q15 because of seasonality. (Khao Hoon, 07/10/15)
Comment: Traditionally 4Q is when they have the highest marketing costs thus unless they are planning on cutting back on that spending their margins shouldn’t be anything special, but still a wonderful growing company regardless
LEE expects 2015 revenue to turn around after slowing for the past couple years. It expects 10% revenue growth with net profit thanks to lower material cost. It is considering investing in integrated business which is expected to increase revenue. (Thun Hoon, 07/10/15)
MAKRO expects 3Q15 net profit to be higher than Bt1.2bn (+11%) backed by increasing highmargin product sales. It expects 2015 net profit of Bt5.6bn. (Khao Hoon, 07/10/15)
Comment: And when will CPALL sell its stake?
MDX expects EIA to unlock an extension 100 rai by 4Q15 or 1Q16. It plans to develop 700 rai in preparation for sale to a Japanese company that plans to set up an electronics production base in Thailand, valued at Bt2-2.1bn. It believes this area is the best location to connect to ASEAN. It expects robust earnings in 3Q15. It plans to invest in 1000MW in power business within 2-3 years. (Thun Hoon, 07/10/15)
PERM is talking to prospective partner to invest in solar cells. Management expects 2015 revenue to grow 5-10% from 2014’s Bt5.96bn and Bt18mn in net profit thanks to backlog. (Thun Hoon, 07/10/15)
SAMCO expects 3Q15 earnings to be good backed by Bt850mn in presales and more than Bt120mn revenue contribution from S9 condo. It expects stimulus measure to boost demand for the rest of the year. (Thun Hoon, 07/10/15)
SMIT expects 2015 revenue to achieve its 10-15% growth target backed by high orders. It expects to book extra gain from a the sale of 10.93% in K.S. Mould Parts Co., Ltd. It plans to expand product line for knife production, which is expected to be clear next year. (Thun Hoon, 07/10/15)
TAPAC expects to raise revenue from property to comprise 50% in 2016. It expects 2015 revenue to achieve its target growth of 10-12% from 2014. It plans to invest in the property business abroad. It is talking to a prospective partner to invest in a solar farm. (Thun Hoon, 07/10/15)
TKS expects earnings to be good backed by the 7-Eleven stamp campaign and profit from SYNEX. It plans to bid for a soft packaging project valued at more than Bt100mn. It expects to do a JV with a Japanese company by November. (Thun Hoon, 07/10/15)
UNIQ expects to win some mega projects. It expects this to raise backlog by Bt10bn of which 20% is expected to be booked every year. It expects 2015 revenue of Bt10bn aided by Bt30bn work on hand. (Thun Hoon, 07/10/15)
Comment: Perhaps an undervalued large construction co, depending upon how you want to value it, but without a doubt a winner along with the rest of the entire industry.
UPA expects 3Q15 earnings to be good on the back of revenue contribution from APU (93% stake). 4Q15 earnings is also expected to grow, aided by The Pino Khaoyai. It is considering investing in alternative energy businesses and other projects. (Khao Hoon, 07/10/15)