ANAN expects to launch five projects with a total value of Bt13bn in 4Q16 which it believes will lift 2016 presales to reach its target of Bt22bn. Presales are now at Bt14.3bn and backlog at Bt38.5bn. It will book revenue of Bt12bn in 2H16. (Kao Hoon, 27/09/16)
Comment: Same story as yesterday and as it has been for past the 12 months
BA expects 2Q16 earnings to be good, supported by high season. It says prebooking will be over 13% and expects 2016 net profit to be a new high. It targets 2016 revenue growth of no less than 10% and passenger load to reach 70%. ( Thun Hoon, 27/09/16)
CKP share price surged due to expectation of a 2H16 profit of over Bt300mn or growth of 53% YoY, driven by more capacity from Nam Ngum 2. (Kao Hoon, 27/09/16)
Comment: I’m only thinking when will they sell things off to a fund of sorts, otherwise the valuation is a bit rich for my liking.
EGCO is working with a partern to take over geothermal power plants in Indonesia and the Philippines. It expects to wind up the deal in November. It expects 3Q16 earnings growth as it books revenue from Khanom power plant 4. ( Thun Hoon, 27/09/16)
GTB targets 2016 revenue growth of 8%. It has backlog of Bt700mn and expects to book revenue of Bt500mn in 2H16. It expects to get a new job worth of Bt80mn soon. It targets an increase in revenue from abroad to 20% within three years. (Kao Hoon, 27/09/16)
INET expects 2H16 earnings to be better than 1H16, which reported revenue of Bt421mn, thanks to government jobs. It targets 2016 earnings target growth 50% from last year due to customer expansion. It has progress on INET data center 3 and expects to book revenue in 2Q17. ( Thun Hoon, 27 /09/16)
Comment: They will perform well given that their customer base includes the government and SCG Group
ITEL plans to repay loans of Bt600mn this month. This will slash its D/E ratio to 1.1X from 6.4X and interest expenses by Bt20mn per year. It plans to bid for a PEA job worth Bt400mn in 4Q16. It signed contract with ADVANC to rent fiber optic network in 21 southern provinces. (Kao Hoon, 27/09/16)
Major shareholder of JAS pays Bt4.4bn to buy JAS’s shares. This has increased his shareholding to 66.89%. He also bought JAS-W3 and holds 30.94%. JAS will make its official tender offer tomorrow. (Kao Hoon, 27/09/16)
LALIN expects low-rise to grow more than the market’s 5% after it expanded upcountry and has met a good response. It plans to launch two new low-rise projects in 2H16 after opening seven projects with a total value of Bt4bn. ( Thun Hoon, 27/09/16)
LPN expects to transfer a condominium worth Bt2.09bn to customers in October. This project had pre-sales of 60%. (Kao Hoon, 27/09/16)
Comment: The only question for LPN is when will they start to do project launches again? Without a clearer backlog the market will continue to discount the leading low-end property developer in Thailand.
MAJOR is confident that 2016 revenue will grow 10-15% and expects 4Q16 earnings to be outstanding, supported by Thai and Hollywood movies. It expects revenue from Thai movies of Bt100-200mn. It plans to have 100 cinemas in Laos and Cambodia by 2020. ( Thun Hoon, 27/09/16)
Comment: They are a monopoly in Thailand (yes yes you can argue that SF has some cinemas, but lets be realistic) and a potential monopoly in Cambodia, and if they play their cards right they could do the same in Laos and Myanmar.
NWR expects to get a big job worth Bt86bn which will increase its backlog from Bt15bn. It expects to book revenue from transfer condo in 3Q16. ( Thun Hoon, 27/09/16)
Comment: Not sure how a THB 86bn project results in a THB 15bn backlog, then again this is quality Thun Hoon reporting.
SINGER expects 2H16 revenue to grow more than 20% from 1H16. It plans to add 5,000 salespersons and focus on high margin products. ( Thun Hoon, 27/09/16)
TFD acknowledges that 2016 revenue will miss target of Bt5bn as it has postponed setting up an REIT to next year. It expects to finish the deal to sell two office buildings worth Bt700mn this year. It is interested in the food business, which it hopes will diversify its risk. (Kao Hoon, 27/09/16)
TWPC plans to take over a business in Cambodia and Vietnam with a decision this year. It expects 3Q16 earnings to be good supported by a 20% increase in capacity. It plans to make animal feed from pulp that will help margin. (Thun Hoon, 27/09/16)
Comment: Now that’s an interesting development from this company