Stocks in the news (anan, ajd, asefa, bcp, crane, css, eforl, gfpt, nncl, prin, pstc, rojna, t, tpac) 18.12.15

ANAN
ANAN targets 2016 revenue of Bt14.5-15.5bn (43% growth) backed by Bt38bn backlog. It targets sales of Bt21.5-22.5bn with 32% gross margin. It is confident 2015 revenue will reach target of Bt10-11bn. It plans to launch ten projects, valued at Bt22-23bn, next year. (Thun Hoon, 18/12/15)
Comment: Perhaps one of the few property companies still growing in Thailand

AJD
AJD expects 4Q15 earnings to be good backed by Top-Up machines. It plans to add 50,000 ToUp machines next year. (Thun Hoon, 18/12/15)
Comment: Follow this name at your own risk.

ASEFA
ASEFA expects orders to surge from mega projects and growth in data centers. (Thun Hoon, 18/12/15)

BCP
BCP is budgeting Bt3bn to expand its oil retail business in 2016. It plans to open 60 gas stations and also focus on non-oil business for sustainable growth. (Khao Hoon, 18/12/15)

CRANE
CRANE expects performance to turn around next year backed by demand. It expects 2015 revenue to achieve its target. It is talking to a prospective partner to invest abroad. (Thun Hoon, 18/12/15)
Comment: It has consistently been an undervalued stock despite the fact that core business has always done ok.

CSS
CSS plans to take part in IT projects in government units for 4G expansion. It expects 2016 revenue to reach Bt5.5bn (20-25% growth). It expects to get 25MW in cooperative solar farms which is expected to announce on Dec 22. It expects construction to complete within 6 months. Management expects 2015 revenue to achieve target of Bt4.8-5bn. (Thun Hoon, 18/12/15)
EFORL
EFORL expects 2016 net profit of Bt500mn with Bt5bn revenue. It expects net margin of 10% next year. It plans to list Wutthisak in 2Q16, which will give it Bt1bn that it will use to repay debt. (Khao Hoon, 18/12/15)
Comment: We wonder if this financial engineering will allow the former management to drive their business after the flop it experienced when it sold to a PE shop a few years ago

GFPT
GFPT expects healthy earnings in 4Q15 despite fourth quarter being a low season for exports. It expects to benefit from lower excess supply which is pulling up chicken price. It expects sales growth of 10% next year. (Thun Hoon, 18/12/15)
Comment: Plus they are still doubling their capacity over the next 5 years

NNCL
NNCL is talking to a prospective partner to invest in natural gas power plants located along PTT’s natural gas pipeline. It expects the decision to be made by mid-2016. It is studying to invest in phase2 (60MW). It expects 2015 performance to turn around from 2014 net loss of Bt400mn after it achieving Bt53.92mn net profit in the first nine months of the year. It expects to sign a contract to sell land in 4Q15 and expects to recognize revenue in 2Q16. (Thun Hoon, 18/12/15)

PRIN
PRIN targets 2016 revenue of Bt2.9bn from launching four new projects valued at Bt4.06mn. It expects the property business to be good on the back of government stimulus measures, lower interest rate, and economic recovery. (Khao Hoon, 18/12/15)
Comment: With KPN in there now perhaps PRIN may be developed from just a small mid end developer to company that is able to continually do projects year in year out and be attractive to shareholders

PS
PS expects 4Q15 earnings to be good backed by Bt16bn transfers from Bt35bn backlog. (Khao Hoon, 18/12/15)

PSTC
PSTC plans to ask approval from shareholders on Dec 23 to invest in 13MW alternative energy power plants via acquisition. It says it has qualified for 15MW solar power plants in government units. (Khao Hoon, 18/12/15)

ROJNA
ROJNA expects 2015 revenue of Bt10bn thanks to power plants. It plans to invest in 110MW SPP phase 3. It expects to show a net profit in 4Q15 from transferring in 60 rai of land, valued at Bt200-220mn. It plans to invest in Dawei IE next year. (Thun Hoon, 18/12/15)
Comment: There is some value hidden in this co, I’m calling it HEMRAJ part 2, but ROJNA’s locations were all hit by the floods in 2011 hence why land sales have been poor.

T
T expects 4Q15 performance to turn around from 4Q14 net loss of Bt38mn backed by implementing cost control and transfers. It expects to get Bt1bn in new projects to add to its backlog of Bt600-700mn. (Thun Hoon, 18/12/15)

TAPAC
TAPAC expects 2016 net profit to grow not less than 7% aided by property business. It plans to acquire property abroad. It is talking to a prospective partner to invest in alternative energy. It expects 15% growth in 2016 revenue backed by increasing capacity by 30% and numerous orders. (Thun Hoon, 18/12/15)

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