Stocks in the news (ait, ecf, fpi, gfpt, glow, ifec, jwd, mcs, mtls, nok, pranda, pps, pylon, samco, scn, seafco, spa, tpch, tu, twz) 25.02.16

AIT
AIT is talking to A prospective partner to provide data center service. It expects this to need Bt400mn capital investment. It plans to ask board approval in April. It plans to take part in Bt10bn public bids, of which it expects to get 40-50%. (Khao Hoon, 25/02/16)
Comment: They’ve come out saying a few times that they want to diversify away from being a project based company, and if the government is really adamant on these data centers then it just sounds like another great cash flow for those that are able to win these contracts

ECF
ECF reported 2015 net profit of Bt75mn. It will pay a dividend of Bt0.05/share, XD on April 19. It targets 2016 revenue of Bt1.5bn. (Khao Hoon, 25/02/16)

FPI
FPI targets 2016 revenue growth of 10% as the auto sector bottoms out. Its backlog is Bt600mn. It expects Bt300mn to be booked this year. It is talking to a partner to expand to India. (Khao Hoon, 25/02/16)
Comment: Haven’t they said that the deal in India was already completed?

GFPT
GFPT targets 2016 revenue to reach Bt16-18bn thanks to broiler price recovery and lower cost. (Thun Hoon, 25/02/16)
Comment: Well they have benefited from lower raw mat costs, the only question here is will the domestic price of chicken increase?

GLOW
GLOW’s board approved investing in Vietnam and Malaysia. Its 2015 net profit is Bt8.35bn. It will pay a dividend of Bt4.36/share, XD on April 29, PD on May 26. (Khao Hoon, 25/02/16)
Comment: Don’t be surprised to see GLOW continually offering special dividends every year

IFEC
IFEC expects to get PPA for 100MW Japanese solar project. It expects this to operate by 4Q16. It expects 2016 net profit to be good. It expects 200MW in power plants to be operational this year. It plans to invest in 500MW in addition, targets to achieve 1,000MW within five years. (Thun Hoon, 25/02/16)
Comment: A 100 MW japanese solar power plant? Really? 1,000 MW in five years? REALLY? Everything they bought has been at a yield of what…~4-7%…oh well. I said @ 18 that this was a POS and that even in their perfect dream it wouldn’t be worth more than 7…looks like some people are still believing it. Let’s see how quickly they’ll need to raise capital again…

JWD
JWD reported 2015 net profit of Bt333mn, up 132% thanks to an uptrend in the logistic business. Its board has approved a stock dividend at a ratio 10 old shares to 7 new shares and cash dividend of Bt0.03/share, XD on May 4, 2016. (Khao Hoon, 25/02/16)
Comment: Ohhh stock divvy’s, retail investors don’t care for this…I do like the business of JWD, but it seems to have priced it every possibility.

MCS
MCS will hold board meeting today to approve 2015 financial statement and report to the SET on Feb 26. It expects 2015 net profit to be higher than Bt600mn, up 6X from 2014’s Bt82.02mn. 9M15 net profit was Bt450.05mn. (Thun Hoon, 25/02/16)
Comment: And I wouldn’t be surprised to see #’s stay at this level.

MTLS
MTLS will hold a roadshow in Malaysia on Feb 25. It expects loan growth of 50% per year for the next two years. It expects revenue and net profit to mark a record high. (Khao Hoon, 25/02/16)
Comment: Similar to sawad albeit only in terms of expansion, increase # of locations quickly, new customer base = more loans but what will happen in…3 years from now when they can’t grow from expansion alone?

NOK
17 pilots quit in ‘normal’ exodus – A source at Nok Air said that, as of Tuesday, as many as 17 pilots tendered their resignations which will take effect next Tuesday. The company has a total of 192 pilots. According to the source, more resignations are expected following the Feb 14 strike. (Bangkok Post, 25/2/16)
Comment: The queue’s for NOK were rather long over the weekend..

PRANDA
PRANDA expects 2016 revenue to grow not less than 20% and net profit to back to the black. It is budgeting Bt200mn to open 19 new branches and invest in machinery improvement. (Khao Hoon, 25/02/16)
Comment: They’ve been doing a share buyback for the past few months, but they’ve never really grown..we’ve followed the company for a decade and despite the best story telling and potential we’ve heard from management it has never been achieved…

PPS
PPS reported 2015 net profit of Bt3mn affected, by the economic slowdown. Its board has approved a stock and cash dividend with warrants, XD on April 28. (Khao Hoon, 25/02/16)

PYLON
PYLON expects to sign a Bt150mn private foundation project which will raise its backlog to Bt600mn. It expects to take part in Bt1bn bids. It expects 2016 revenue of Bt1.2bn. It will pay dividend of Bt0.53/share, XD on March 15. (Thun Hoon, 25/02/16)

SAMCO
SAMCO targets 2016 revenue to grow 30% with Bt2.1bn of sales. It plans to launch three projects, valued Bt4.4bn. It is budgeting Bt900-1,000mn to acquire three land plots. (Khao Hoon, 25/02/16)

SCN
SCN approved a capital increase at its subsidiary from Bt20mn to Bt200mn to handle its business expansion, with NGV gas stations in high demand. It expects 2016 revenue to grow 40%. (Thun Hoon, 25/02/16)

SEAFCO
SEAFCO expects 2016 earnings to be good on the back of Bt1.4bn backlog which will contribute revenue until 3Q16. It expects to take part in public bids which will widen its gross above 10%. It is waiting for a license for a Bt20mn Myanmar project. (Thun Hoon, 25/02/16)

SPA
SPA reported 2015 net profit of Bt106mn (+220%), its highest ever. It targets 2016 revenue growth of 35%. It is budgeting Bt500mn to expand its business. (Khao Hoon, 25/02/16)
Comment: And it does look like they may be able to replicate this in 2016..

TPCH
TPCH announced 2015 net profit of Bt46.61mn (+64%) aided by full year revenue recognition from CRB. It expects 2016 revenue to grow 150% supported by four biomass power plants. It plans to invest in biomass power plants in Cambodia and Laos. (Khao Hoon, 25/02/16)
Comment: No surprise here.

TU
TU targets sales of US$8bn in 2020. It plans to launch a new project in 2016. It reported 2015 net profit of Bt5.3bn with Bt125.2bn in sales. It announced 2H15 DPS of Bt0.31/share. (Khao Hoon, 25/02/16)

TWZ
TWZ got a Bt500mn order which is expected to be booked in 1Q16. It plans to launch a property project valued at Bt2.3bn, which will raise its backlog from Bt800mn. It targets 2016 revenue of Bt4.6bn. (Thun Hoon, 25/02/16)

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