Stocks in the news (big, bjchi, color, dcorp, demco, delta, eason, mill, planb, pps, qtc, scc, seaoil, sr, tcmc, thai, tipco, tpark, trubb) 14.01.16

BIG
BIG is budgeting Bt200-150mn to expand its business by opening more branches. It expects 2015 revenue to mark a record high and to pay its first dividend. It expects 2016 earnings to be good. (Thun Hoon, 14/01/16)
Comment: I’ve been surprised by their continuing positive performance but I still have doubts on their sustainability

BJCHI
BJCHI’s board has approved the share repurchase program for the purposes of financial management. It has set the maximum at not exceeding Bt250mn, equal to 40mn shares (2.5% of registered shares). It expects this to confirm its good outlook in the minds of investors and to give them the message that current share price is undervalued. It targets 2016 revenue growth of 15%. (Thun Hoon, 14/01/16)
Comment: Oil price drop? Who cares! Obviously not BJCHI’s board with their announcement yesterday to do a share buyback.

COLOR
COLOR targets 2016 revenue growth of 7-8% backed by Bt150mn in transfers contributing revenue in 2Q16. It expects to take part in upcoming bids. It plans to expand to ASEAN, Australia, and Europe. (Khao Hoon, 14/01/16)

DCORP
DCORP signed contract with Yingli Solar to set up a solar cell plant for Bt689mn. It expects this to start up by 2H16. (Thun Hoon, 14/01/16)

DEMCO
DEMCO expects 2016-2017 revenue to grow driven by construction, steel structure, and service businesses. It expects 2016 revenue of Bt6-6.5bn. (Post Today, 14/01/16)
Comment: Effectively 4Q15 was crap, 1Q16 will be crap and in a perfect world 2Q16 returns to normal.

DELTA
DELTA expects 1Q16 earnings to be good on the back of the baht’s depreciation. It expects exports to contribute revenue of Bt11bn. It expects 2016 revenue to grow 10% after expanding its customer base. It has budgeted Bt570mn to buy land for its plant in Indonesia. (Thun Hoon, 14/01/16)

EASON
EASON’s board approved a Bt60mn investment budget to invest in APCON and get it in the power business. It expects this to build sustainable growth. It expects 2015 revenue to achieve its target growth of 10% from 2014’s Bt503mn. (Thun Hoon, 14/01/16)

MILL
MILL expects its plant in Myanmar to contribute Bt900mn revenue in March. It expects to get orders from its property partner. It expects 2016 revenue of Bt20bn backed by Bt3-4bn orders. It is talking to a prospective partner to set up a JV. It expects to complete a solar farm deal this year. (Thun Hoon, 14/01/16)

PLANB
PLANB targets 2016 revenue growth of 25% from 2015’s Bt2.1bn brought by full year revenue from its media business, into which it invested in 2015. It is budgeting Bt500mn to invest in digital screens in 50 provinces. (Khao Hoon, 14/01/16)

PPS
PPS plans to expand to AEC. Myanmar is its first target. It expects investment in Myanmar to be good after the successful election. It expects domestic investment to be good because it got projects from property and retail businesses. It expects to get orders from the hotel business. It targets 2016 revenue of Bt300mn. (Thun Hoon, 14/01/16)
Comment: I do like the management there but the business itself isn’t very scalable as it is manpower intensive

QTC
QTC and UAC plan to set up a company to invest in the power business. It is interested in a 10MW biomass power plant. It has set an investment budget of Bt1bn. (Khao Hoon, 14/01/16)
Comment: They have been planning to do this for 3 years

RS
RS targets 2016 revenue of Bt4.5bn (+27%), boosted by Channel 8, which is #4 in the ratings. Its revenue from advertising has achieved 50% of its target of Bt2bn. It expects to increase ad fees in 2H16 by Bt50,000-60,000 per minute. It is budgeting Bt2bn to upgrade Channel 8. (Thun Hoon, 14/01/16)
Comment: If they can’t reach an average of THB 80 k / minute then its best to stay away

SCC
SCC expects 2015 earnings to mark a record high of Bt43bn. It expects to pay a dividend of at least Bt8/share. (Khao Hoon, 14/01/16)

SEAOIL
SEAOIL expects domestic and international trading sales to be good driven by lower oil price. It expects revenue from trading to comprise of 85% from last year’s less than 50%. It expects to increase investment this year, with a decision in January. (Thun Hoon, 14/01/16)

SR
SR targets 2016 revenue growth of 10-20% with net margin of 7-8%. Its backlog is Bt900mn. It is studying the alternative energy business, expects to make a decision on a biogas project in 1Q16. (Khao Hoon, 14/01/16)

TCMC
TCMC targets revenue of Bt10bn within three years. It expects revenue and earnings to grow via a takeover. (Thun Hoon, 14/01/16)
Comment: A rather odd furniture company that acquired something in the UK

THAI
TRIS has downgraded the rating of THAI from A+ to A. The outlook is revised from negative to stable. The downgrade reflects its deteriorating financial profile caused by ongoing operating loss and rising leverage. (Khao Hoon, 14/01/16)
Comment: Shouldn’t it be a junk bond by now? Oh yes TRIS is paid by Thai to rate them……

TIPCO
TIPCO expects high growth in 2015 earnings from 2014’s Bt78mn mainly driven by TASCO. It plans to acquire a domestic company for Bt500mn-1bn. This is expected to be concluded this year. It targets 2016 revenue growth of 10% from brand-building, higher exports and higher sales. (Thun Hoon, 14/01/16)

TPARK
TPARK has signed a contract with L’Oreal to rent a 20,736 sqm warehouse for 10 years. It plans to expand its warehouse in Indonesia by 30,000 sqm. (Khao Hoon, 14/01/16)

TRUBB
TRUBB expects to benefit from the government’s support for rubber price and the weaker baht. It targets 2016 revenue growth of 10% brought by an expanded customer base. (Thun Hoon, 14/01/16)

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