Commodities specifically: oil, energy and petrochems have been leading the way in the past few weeks and should oil continue its positive movement then this is effectively the only sector within the market pulling everyone else up. 1Q earnings season is reaching its last day today, and thus far will its all inline with what one should expect..weak. Anything else? Well some economic data for Thailand is due today.
ALT will hold a roadshow in five provinces. It expects to have an IPO selling 250mn shares in late June and list on the SET in 3Q16. (Kao Hoon, 16/5/16)
Comment: The IPO market has been quiet so far this year other than ASN which did well on its first day pop last week it’s been a quiet quiet start to the year.
BANPU is investing in a 78.5MW solar farm in China to support future business growth. (Kao Hoon, 16/5/16)
GL has a five-year plan to grow profit 10X after growing 100% in 1Q16. It is negotiating to acquire three businesses. (Kao Hoon, 16/5/16)
Comment: A former darling and now I don’t know quite understand how to justify its existing valuation. But I’ve been proven wrong many a time over the past decade and a half…
NDR expects 2Q16 earnings will be good supported by the good response to its new product “air lock”. It targets 2016 sales growth of 25% from 2015. It plans to expand its business in Thailand and abroad. The BOI approved its solar roof project. It expects to start operating in 2H16. This will reduce electricity cost by 10%. (Thun Hoon, 16/5/16)