AAV expects 2Q16 earnings continue to be good supported by passenger growth and lower oil price. It plans to open four new routes. In 1Q16 earnings was over Bt1bn due to high season. (Thun Hoon, 24/5/16)
AP launched two new condominiums valued at Bt3.64bn. Presales will be held on June 4-5. It targets presales of Bt1.5bn. More than 3,000 customers have registered. (Kao Hoon, 24/5/16)
BKD is confident that 2Q16 earnings will continue to grow. It expects to increase its target revenue growth from 20% in 2H16. It has backlog of Bt1.57bn and will book 76% this year. It will bid for new jobs valued at more than Bt3bn and expects to 40-50% of its bids. (Kao Hoon, 24/5/16)
BTS Group buys 46 trains for Bt11bn. BTSC has signed a contract to buy 46 new trains worth 11 billion baht from Siemens AG and CRRC Changchun Railway Vehicles. The contract provides 46 trains from the two firms, with four cars per train, to be used for the Green Line extension. The money will come from cash flow and loans. It plans to big for the upcoming Pink and Orange lines in the form of public-private partnership. It has a healthy financial position with Bt12bn worth of cash on hand and a low D/E of 0.28, management said.
Comment: Good luck trying to understand their balance sheet, it looks a bit like an investment company versus a pure transit play.
JMART expects 2Q16 earnings to grow as consumer purchasing power recovers. It is confident that 2016 revenue and profit will grow, supported by 3G and 4G. (Kao Hoon, 24/5/16)
Comment: Given how poor the phone industry has been they’ve done an ok job but still don’t believe in the turnaround in the market.