Stocks in the news (amata, arrow, big, cho, dtac, fvc, gpsc, gunkul, jsp, lpn, ps, siri, synex, tcap, tipco, tvt) 24.02.16

AMATA sets target land sales of 1,000 rai in 2016. It is negotiating with a foreign customer and hopes to finish the deal in 2H16. (Khao Hoon, 24/02/16)
Comment: This implies a 20% revenue growth for AMATA this year.

ARROW is confident that revenue in 2016 will reach Bt1.4bn supported by more order, an increase in market share to 65% and expansion of factory and machinery. (Khao Hoon, 24/02/16)
Comment: What property slowdown? As long as the number of buildings continue to increase then ARROW is in good shape. A consistent grower over the past few years.

BIG reported net profit of Bt459mn, growth of 235%, on a gain in market share to over 50% and total revenue of Bt1.62bn. It targets revenue growth of no less than 10%, supported by expanding to high-end customers. It will pay a dividend of Bt0.6/share, XD on April 29. (Khao Hoon, 24/02/16)
Comment: I’ll be reading their notes to the financial statements w/ a lot of questions…

CHO reported profit in 2015 of Bt35mn, less than last year. This was due to a fall in total revenue and impact from the cancellation of the NGV bus. The board approved a stock dividend in the ratio 10 old shares for 1 new share, XD on April 27. It targets revenue growth of 5-10% in 2016. (Khao Hoon, 24/02/16)
Comment: Stock divvy’s are never liked by this market…

DTAC expects revenue in 2016 to be unchanged from 2015 at Bt88bn, with a fall in EBITDA of 27-31% due to high marketing expenses. It has budgeted Bt20bn to expand its network. (Khao Hoon, 24/02/16)
Comment: So declining EBITDA….increasing debt….increasing capex…cut in divvy’s…it is tough to love DTAC at the moment.

FVC budgeted Bt27mn to set up subsidiaries, in which will hold 70%, to open KT medical service. It expects revenue of Bt9-10mn in the first year. (Khao Hoon, 24/02/16)

GPSC is confident that earnings will continue to grow, supported by booking more revenue from the sale of electricity and stream to PTT. It will realize a full year of revenue from IRPC-CP phase 1 and profit from Nava Nakorn power plant, which will start up in June 2016. (Thun Hoon, 24/02/16)

GUNKUL expects to get new 100-200MW solar farm job in Japan and expects to finish the deal this year. It has gotten jobs from EGAT worth Bt15bn. This will increase its backlog to Bt300mn. It plans for revenue to reach Bt6bn in 2016. (Thun Hoon, 24/02/16)
Comment: A quick back of the envelope for japan solar plants when applying thai assumptions make the yields there look great, the reality is something different…the sunlight in Japan isn’t as strong (generally speaking) as it is in Thailand…so why are all these Thaico’s rushing in? An excuse for them to go shopping?

JSP to report earnings today. It expects profit of Bt183mn in 4Q15 which will support profit in 2015 to grow 85% to Bt899mn. It expects to pay a dividend of Bt0.1/share or yield 8%. (Khao Hoon, 24/02/16)

LPN budgets Bt468mn to buy two pieces of land on which it plans to build condos worth Bt2.4bn. The company expects revenue in 2016 of Bt17.6bn supported by its backlog of Bt12bn. (Thun Hoon, 24/02/16)
Comment: It seems like there is no love for the property sector in Thailand @ the moment (nor regionally for that matter)

PS plans to expand its business after it becomes a holding company. If the new business is complete, it will support revenue to reach Bt15bn in 2025. It plans to launch a new project worth Bt60bn. It sets its revenue target at Bt52bn in 2016. (Thun Hoon, 24/02/16)

SIRI plans to open new 21 projects worth Bt50.5bn. It targets total revenue of Bt36bn in 2016, down from 2015. However, it has backlog in hand worth Bt38bn. (Khao Hoon, 24/02/16)
Comment: With the President buying back shares, is it time for round 2?

SYNEX shows profit growth of 94% or Bt351mn in 2015. It targets revenue of Bt23bn in 2016. (Thun Hoon, 24/02/16)

Scotiabank offers 4 Asian banks its $1.7bn Thanachart stake — Canada’s Bank of Nova Scotia has approached a unit of Bank of China, Maybank and two Japanese banks to gauge their interest in its US$1.7 billion stake in Thanachart Bank, people familiar with the matter said. Bank of Nova Scotia, known as Scotiabank, has hired Morgan Stanley to advise it on the sale of the 49% stake, the sources said. First-round bids for the sale are expected in the second quarter, one of the people added. (Bangkok Post, 23/2/16)
Comment: From what we’ve heard there are only 2 potential suitors…and no one is really pushing for TCAP…

TIPCO reports profit of Bt1.18mn or growth of 1,429% supported by increasing contribution from its associates of Bt932.7mn, up 320%. It will pay a dividend of Bt0.25/share, XD on April 28 and payment on May 18. (Khao Hoon, 24/02/16)

TVT reported 2015 net profit of Bt50.25mn, growth of 141.47%. It will pay a dividend of Bt0.10/share, XD on May 4. It will issue 200mn warrants (TVT-W1) via PP at a ratio 4 old shares for 1 warrant. (Khao Hoon, 24/02/16)
Comment: Everyone loves free warrants!

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