Stocks in the news (advanc, ba, bafs, btw, ccn, csl, fpi, gunkul, ihl, kbank, kbs, kool, mk, pcsgh, planb, ptt, synex, thcom, true, twpc, upa) 19.08.16

ADVANC
ADVANC plans to increase 2016 revenue target to accommodate greater revenue from services and a campaign to stimulate sales. It expects the 900MHz license to cut EBITDA margin in 2H16 to an average of 38-39% in the year. It expects maintain its 100% dividend payout. (Thun Hoon, 19/08/16)
Comment: While the dividend payout ratio remains, it will probably followed the trend of DTAC’s i.e. declining
 
BA
BA is preparing a roadshow in Hong Kong for November. It targets an annual average revenue growth of 10-15%. It has budgeted Bt12bn to expand its airport and buy more airplanes. It expects passenger growth of 20% to more than 1.2mn passengers supported by high season. (Thun Hoon, 19/08/16)
BAFS
BAFS expects 2H16 to grow on high season. It expects aviation fuel services to increase 8% and expects revenue to grow more than 9% to a new high compared to last year. (Thun Hoon, 19/08/16)
Comment: A great “little” monopoly
 
BTW
BTW will pay an interim dividend of Bt0.27/share or return of 6.46%, payment on Sep 9. It expects 2H16 to be good supported by bids for new jobs. (Thun Hoon, 19/08/16)
CCN
CCN plans to bid for jobs of more than Bt200mn. It expects 2016 revenue growth of 20%. It plans to expand to the energy business, closing a deal by the end of 2016. It reported 2Q16 profit growth of 1,009% due to cost management and expects continued growth in 3Q16. (Thun Hoon, 19/08/16)

CSL
CSL stands by its 2016 target revenue growth of 2-3%, backed by continued growth in its core business. It spent Bt240mn to build a data center and provide internet services to condominiums along the BTS route. It has no plan to close its Yellow Pages business. (Kao Hoon, 19/08/16)
FPI
FPI expects business continue to grow in 2H16, supported by more orders and backlog of more than Bt600mn, with 2016 revenue growth at over 10%. It expects to COD a biomass power plant at the end of August. It reported 1H16 profit of Bt138mn or growth of 51%. (Kao Hoon, 19/08/1 6)
GUNKUL
GUNKUL hired Toshiba Corporation (Tokyo) to build a huge 33.5MW solar power plant at Kimitsu, Chiba, Japan worth ¥9mn. (Kao Hoon, 19/08/16)
IHL
IHL will pay a stock dividend at a ratio of 6:1, XD on Sep 23 and payment on Oct 12. It will also issue three-year warrants at a ratio of 4:1, with an exercise price of Bt3.50/share and will increase capital 174.99mn shares to cover exercise. (Thun Hoon, 19/08/16)
Comment: They are doing some rather odd things with the stock price, what change in business model is coming that will warrant all of this?
 
KBANK
KBANK maintains its loan growth target at 6-7% even if GDP is lower than expected. It expects to lower provisions in 2H16. (Kao Hoon, 19/08/16)
KBS
KBS expects 3Q16 to turn to profit after 2Q16 net losses of Bt147mn thanks to world sugar price recovery and more orders. It plans to claim a loss in the power plant case of Bt130mn. (Thun Hoon, 19/08/16)
Comment: Every sugar co should be following this same trend, however Thailand’s sugar market is a bit different as, if memory serves correct, ~70% of total sugar produced will have to be sold domestically at domestic prices and thus the 30% sold internationally is where these players typically try to make their profits
 
KOOL
KOOL expects 2016 revenue growth of 50% due to expanding its marketing channels, expanding abroad and introduction of new products. It targets 2020 revenue to reach Bt3bn. It is dealing to sell its products in MAKRO and BIGC, with conclusion expected next year. (Kao Hoon, 19/08/16)
MK
MK plans to launch two townhome and duplex house projects in 2H16 worth over Bt841mn. It expects to show a sample warehouse and factory in 4Q16 and expects to finish at end of 2017. (Kao Hoon, 19/08/16)
PCSGH
PCSGH expects 2016 revenue and profit to approach that of 2015 after finding new markets and releasing new products. A solar roof top recently started operations and it expects this to cut costs by Bt20mn per year. (Kao Hoon, 19/08/16)
Comment: We still worry that their margins will continue to decline over time..
 
PLANB
PLANB spent Bt30mn to buy 50% of Bright Sky Media Co., Ltd to support advertising media in airport . (Thun Hoon, 19/08/16)
PTT
PTT expects 2H16 earnings continue to grow, supported by its gas business and no planned shutdowns. It expects a loss from its NGV business of Bt3bn. It has set a five-year investment budget of Bt300bn which will focus on basic structure. (Kao Hoon, 19/08/16)
SYNEX
SYNEX expects 2016 revenue to reach Bt23bn or growth of 8-10%, supported by high season in 2H16. It has budgeted Bt400mn to acquire a business in Thailand and expects the deal to be concluded in 4Q16. (Kao Hoon, 19/08/16)
THCOM
THCOM acknowledges impact from cancellations. THCOM says the cancellations of contracts by CTH and GMM B has cut revenue by 7% and utilization rate to 60-70%. However, it is confident that will be back to normal in mid-2017 as more clients are signing on to Thaicom 8. (Kao Hoon, 19/08/16)
TRUE
TRUE sets Bt20 bn for first digital hub: digital park in Bangkok to serve 20,000 as private centre for innovation – TRUE Corp yesterday announced that it would invest Bt20 billion to develop True Digital Park as Thailand’s first digital hub as part of the plan to support the government’s hope of making the country a regional centre of digital innovation, said Suphachai Chearavanont, chief executive officer of True Corp. It will also spend an additional Bt1.5 billion in the installation of telecommunications infrastructure in the park. (The Nation, 19/8/16)
Comment: I’m expecting another capital increase before the end of this year, they look broke again.
 
TWPC
TWPC is studying getting a PPA for a 5 biomass power plant, capacity of 15MW. It already bid for a PPA for the first phase capacity of 3MW which it expects to use in its factory and sell in the future. It plans to take over businesses in Cambodia and Myanmar, with a deal to be concluded soon. It expects 3Q16 earnings to be good supported by new capacity. (Thun Hoon, 19/08/16)
UPA
UPA hired ERM as a consultant to request an EIA for a 200MW natural gas power plant in Myanmar. (Thun Hoon, 19/08/16)
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