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.
ORI has backlog of more than Bt2bn to support earnings in 2Q16. It reported 1Q16 revenue of Bt532mn and profit of Bt88.3mn. It plans to add new projects to support revenue. (Thun Hoon, 24/5/16)
PTT recovering after slowing high risk investment. It plans to have PTTEP buy Shell and Chevron stock. It plans to expand its coal business in Indonesia. (Thun Hoon, 24/5/16)
SEAFCO got a new job of Bt154mn to support its backlog. It targets 2016 revenue of Bt2bn supported by construction expansion. (Thun Hoon , 24/5/16)
Comment: The question here is will the company expand its machinery in order to capture more market share or are they happy with what they have. Comments from management in the past indicate the latter.
SMT expects to turn around thanks to a greater focus on high-margin products. It expects to increase margin from average 3% in 2015. It plans to add new customers to expand its business. (Thun Hoon, 24/5/16)
Comment: Well..I’ve always liked the CEO but still have doubts. Stock price movement has shown otherwise of course…
SPALI will launch a single house project “Supalai Garden Ville Rangsit Klong2” worth Bt2bn on May 28-29. (Kao Hoon, 24/5/16)
SYNEX is diversifying its portfolio to media marketing and expects revenue to increase 30%. It expects 2016 revenue will hit the target of Bt23bn due to IT expansion. It plans to list its subsidiary on the SET to support business in the future. (Thun Hoon, 24/5/16)
TFG expects 2Q16 earnings to turn around on better broiler price. It expects revenue to grow 15% this year as it has added to its customer base. (Thun Hoon, 24/5/16)
Comment: Clever accounting will only get them so far.
TPOLY expects 2016 revenue to increase 10% thanks to Bt4.5bn work on hand. It plans to take part in Bt10bn in bids, expecting to win at least 10% of the total. (Khao Hoon, 24/5/16)
Comment: A smaller contractor value is purely its shareholding in TPCH
TTCL plans to take part in Bt110bn in bids of which it expects to win Bt25bn. It expects the winner of these bids to be announced in 2H16. It expects 2016 revenue to grow 15-20% thanks to Bt36.9bn work on hand and 1,280MW power plant in Myanmar. It expects power plant in Myanmar to contribute Bt900mn in revenue/year and boost its margin. (Thun Hoon, 24/5/16)
Comment: A darling back up until a year ago when the projects in Myanmar were postponed.
TVD plans to invest with a logistics company to increase its capacity to 140,000 orders/month. It expects this to generate Bt30mn/year. It plans to list its subsidiary (TVD Shooping) in 2017. It expects net profit and revenue to mark a record high this year. (Thun Hoon, 24/5/16)
WHA plans to sell 2 projects asset to WHART, with a value not exceeding Bt4.19bn. It expects to ask approval from shareholders on June 2. (Khao Hoon, 24/5/16)