Stocks in the news (acc, aeonts, banpu, fsmart, hmpro, jutha, ktb, ktis, lst, max, ndr, npp, preb, sccc, spa, true, trc, vte) 14.03.16

ACC
ACC’s shareholders have approved 300mn share capital increase, at par Bt0.25 with warrant at a ratio of 4:1 and an exercise price of Bt1.25. It will use the funds for business expansion. It expects 2016 revenue to turn around on the back of alternative energy and property business. Its power plant business has already contributed revenue in Jan 2016. (Thun Hoon, 14/03/16)
Comment: Another odd (but new!) company that will somehow magically combine alternative energy and property development…

AEONTS
AEONTS plans to expand to 300,000 credit cards this year, focusing on young adults with a monthly income of over Bt30,000 of income. It expects to tighten extending credit to factories given the slowdown in export growth. (Khao Hoon, 14/03/16)

BANPU
BANPU’s board approved a capital increase of 2.582mn shares, at a ratio 2 old: 1 new at Bt5 with 1 warrant. It will use the funds to restructure its financing and lower debt from Bt12.9bn currently, in the process cutting D/E to 1.23X. (Thun Hoon, 14/03/16)

FSMART
FSMART expects 2016 revenue growth of 30%. It targets 90,000 Boon-Term Top-Up machines by the end of this year from 71,000 at the end of February. It plans to offer a new service, money transfers via Top-Up machines, in April and an e-wallet in mid-2016. (Khao Hoon, 14/03/16)
Comment: If the top line growth is this high, expect for bottom line to grow at 1.5x multiple…

HMPRO
HMPRO expects 2016 revenue to grow 15%. It plans to open a new branch at Central Rama 3. It expects its 23rd HomepPro EXPO (March 11-20) to contribute Bt700mn in sales. (Khao Hoon, 14/03/16)
Comment: A potential rebound year for HMPRO perhaps?

JUTHA
Local and foreign investors are interested in JUTHA shares because of its small size and high retained earnings of Bt250mn with Bt4.55 book value. It plans to expand its market for six bulk carriers. It expects to sign six-month contracts. (Thun Hoon, 14/03/16)
Comment: hmmm, wouldn’t PSL be the better play here?

KTB
KTB expects 2016 fee income to grow 10%, aided by corporate clients. It expects to complete loans of Bt4-5bn for 4-5 sugar factories soon. (Khao Hoon, 14/03/16)

KTIS
KTIS expects 2016 performance to be good aided by its new business line (paper cups and bowls) with a new brand. It expects this to start up within 2-3 months, with a focus on exports. It expects its power plants to run by 2Q16. (Khao Hoon, 14/03/16)
Comment: That’s an interesting shift by this sugar company…

LST
LST targets 2016 revenue growth of 5-8% from last year’s low, hit by the economic slowdown. It expects profit margin to be good after it increased its production lines. It plans to expand abroad to raise its exports. (Thun Hoon, 14/03/16)

MAX
MAX expects net profit to back to the black in 2016 aided by recovery in steel sales and extra gain from bad debt. It expects its 2nd power plant acquisition to be decided by 2Q16. It plans to buy Siamese Asset shares. (Thun Hoon, 14/03/16)
Comment: It’s been planning to buy Siamese Asset – a property company, since the first day they imagined a reverse IPO – which was blocked by the SEC

NDR
NDR expects 1Q16 earnings to be good thanks to orders from India. It targets 2016 revenue to hit Bt1bn. It expects 2016 net profit to be good on cost control. It plans to launch new projects in April to contribute revenue of Bt40-50mn. (Thun Hoon, 14/03/16)

NPP
NPP expects 2016 performance to turn around. It has budgeted Bt55mn to buy Miyabi restaurant. It expects this to support its growth. It plans to open two more of Miyabi outlets and expects this to reach breakeven in three years. (Khao Hoon, 14/03/16)

PREB
PREB expects 2016 performance to be good on the back of Bt1.8bn in transfers and Bt2bn in backlog. It plans to launch two new projects valued at Bt2bn on Sukhumvit 113 and Bang Bua Thong – Sai Noi. (Khao Hoon, 14/03/16)
Comment: Still the best example of a construction co shifting upwards to become a developer

SCCC
SCCC is budgeting US$53mn to acquire cement companies in Thailand and Bangladesh. It expects a decision to be made by May. (Thun Hoon, 14/03/16)

SPA
SPA said the first two months performance was good. It expects 2016 revenue growth of 33-35% both from ten new branches and existing branches. It expects no impact from the Spa Act because of its high standards. (Khao Hoon, 14/03/16)
Comments: It’s their opp day today, lets see whats new..

TRUE
TRUE made its first payment on 900MHz. It has offered its 5MHz to AIS free of charge for three months for AIS’s 2G customers to use after that service is switched off. The NBTC will meet today and expects to approve the license for TRUE by March 15. (Khao Hoon, 14/03/16)

TRC
TRC’s board approved 675mn warrants. These will be privately placed with those who subscribed to the Bt2bn debenture. Its board has approved a stock dividend at a ratio 8:1 with cash dividend of Bt0.01/share, XD on May 4. (Khao Hoon, 14/03/16)
Comment: If they have to do a huge project, an increase in equity is a necessity…so no surprise re these moves.

VTE
VTE expects 2016 revenue to reach Bt2bn. It is budgeting Bt1bn to acquire a solar farm and biomass power plants. It expects capacity to achieve 500MW. It plans to wipe out retained losses. Its backlog is Bt400bn, of which 90% is expected to be booked this year. (Thun Hoon, 14/03/16)

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