The wonderful month that is September is nearly over, hasn’t it been a fun ride? This week there isn’t much news left, today we are expecting some trade data – likely to be weak, but otherwise the central banks are done for the next 2-3 months and it should be a relatively quiet week news flow wise.
BTW is talking to a prospective partner to expand to the power business. It expects a decision to be made this year. It expects 2H16 performance to be good backed by solar farms in cooperative units. It expects 2016 revenue to reach Bt2bnm as targeted. Its backlog is Bt1.9bn, of which 50% is expected to be recognized this year. (Thun Hoon, 28/09/16)
Comment: Despite the rather old company name it’s effectively a construction company that focus on renewable energy projects, will be seeing them in a few weeks to see what the story is.
EFORL plans to restructure the business plan for Wuttisak Clinic. It plans to focus on cosmetic products. It plans to set up an integrated beauty center to meet demand. It expects 2H16 performance to be good on seasonality . (Thun Hoon, 28/09/16)
Comment: This Wuttisak story has been ongoing for the past few years…
HTECH plans to expand its capacity by 20%. It expects 4Q16 performance to be higher than target, backed by its new equipment. It expects sales to mark a record high after recording a net profit of Bt46.88mn in 1H16. It expects its plant in Vietnam to operate in 1Q17. (Thun Hoon, 28/09/16)
Comment: Despite the news that VN is the place to be for manufacturing, a visit there has shown that salaries are already in line in with Thailand for skilled labour and there is a bigger shortage of skilled labour…
ILINK plans to hold a roadshow to attract foreign investors. It expects the plan to be finalized in November. It expects to get new orders which will raise its backlog. (Thun Hoon, 28/09/16)
MK maintains its target 2016 property revenue at Bt2.5bn even though total revenue fell to Bt3.1bn. It plans to launch two projects in 4Q16 valued at Bt841mn. It is budgeting Bt1.2bn to expand its leasable area to reach 250,000sqm within 2020. (Khao Hoon, 28/09/16)
Comment: So this is the new strategy by the new shareholder in MK…
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)
ABC had presales of 30% or more than 10 units in ABOVE Sukhumvit 39 project worth Bt2.5bn. It expects presales to reach 70-80% this year and revenue to reach target of Bt2bn. It expects to turn to a profit and write off retained loss of Bt159mn this year. (Kao Hoon, 26/09/16)
Comment: Not really amazing numbers from this rather odd company
ANAN expects good revenue in 2H16, supported by five new condos ready to be transferred with a total value of Bt14bn. It has backlog of Bt38.5bn and expects to book Bt11bn in 2H16. (Kao Hoon, 26/09/16)
Comment: If thats the case then 2016 revenues will be THB 16 bn, an increase from THB 11 bn in 2015.
AP expects 2H16 revenue to grow supported by backlog of Bt15.78bn. It will book Bt10.56bn over the rest of the year. This will lift revenue to its target of Bt23.7bn with presales of Bt31bn. (Kao Hoon, 26/09/16)
Comment: Similar to ANAN above, growing via JV’s with Japanese partners.
ASN expects 4Q16 to be peak due to high season and starting an online business in October. It expects 2016 revenue growth of 20-25% from Bt900mn in 2015. ( Thun Hoon, 26/09/16)
FN plans an IPO of 250mn shares at par Bt0.50. It expects to add four branches at a cost of Bt500mn. (T hun Hoon, 26/09/16)
HYDRO expects to turn around next year as it has gotten a new job with a margin of at least 10%. It plans to bid for 44 new projects worth Bt6bn and has already gotten five. It has backlog of Bt690mn and is confident that 2016 revenue will grow 10% from last year. (Thun Hoon, 26/09/16)
Comment: Ah this lovely story, water company, should’ve been a winner but they haven’t executed anything since going public.
AOT board approved the plan to develop Hat Yai airport. The development will cover a 2year period with a budget of Bt15.1bn. It expects to support 10mn passengers per year by 2030. (Kao Hoon, 23/09/16)
Comment: It’s quite interesting that nothing is ever really spoken about the development of Southern Thailand. If you look at the numbers, Hat Yai is an important part of Thailand’s economic development.
BEAUTY is outstanding, with average profit growth of 36% per year in 2016-2017 due to more branches and distribution channels. (Kao Hoon, 23/09/16)
GEL plans to increase capacity to allow it to handle more jobs, both government and private. It targets increasing the portion of government jobs to 35% from 20% and is confident that 2016 revenue will reach its target of Bt1.8-2bn. It expects 2017 earnings to be good with revenue growth of 15-20%. It plans a JV with a partner to support business. (Thun Hoon, 23/09/16)
GFPT is confident that 3Q16 earnings will be good, supported by high season. It plans to increase capacity to handle more exports to Japan. It expects margin to reach 14% from 12% last year due to cost management and expects 2016 revenue growth of 2-3%. (Thun Hoon, 23/09/16)
Comment: Still the best chicken operator in the country. Question now is what will happen to chicken prices over the next 6-12 months?
GUNKUL targets power plant capacity of 1,000MW in Thailand with 200MW in Japan. It is the first 100% Thai company to be granted loans by large Japanese banks of JPY11.78bn to build a solar power plant with capacity of 38.1MW; COD is expected in 1Q18. (Thun Hoon, 23/09/1 6)
AP is confident that low-rise project revenue and presales will hit target. It reports revenue from low-rise of Bt6.14bn in 1H16 and will realize Bt5.68bn in 2H16. (Thun Hoon, 22/09/16)
CKP expects profit of Bt300mn in 2H16 supported by more capacity from Nam Ngum 2. (Kao Hoon, 22/09/16)
Comment: Now would they consider flipping this into an infra REIT? Are the rules there by the SEC for this happen?
DELTA has received more orders, which will support 2H16 earnings. It maintains its target revenue growth of 10% from last year backed by customer expansion. It has budgeted Bt1.12bn to set up a production base and R&D facility in India. (Thun Hoon, 22/09/16)
KSL expects 4Q16 earnings to be good supported by a surge in sugar price and the rise from bottom for its ethanol business. It plans to bid for a biomass power plant contract. (Thun Hoon, 22/09/16)
Comment: The only thing driven these names are the sugar prices
MC expects 2H16 revenue to be good supported by campaigns and high season. It is confident that 2016 revenue will grow 15%. It has a plan to add 1 branch in Laos. (Kao Hoon, 22/09/16)
Comment: I still think that they have one of the worst inventory days turnover that I’ve seen amongst nearly every retailer in the region.
ACAP raising loan target to Bt3.5bn from Bt2bn. There is progress in its plan to expand abroad and it expects to wind up a deal with two partners in Cambodia. It plans to issue a debenture worth Bt1bn with interest rate at 5.6%. The call center business continues to grow. (Thun Hoon, 21/09/16)
CENTEL expects 4Q16 to be good, supported by high season. It expects 2016 earnings to grow in line with growth in tourism. Recently, it agreed to join with PTT to study placing a hotel in service stations. (Thun Hoon, 21/09/16)
CHOW expects 3Q16 earnings to be good and lead to growth in 2016 revenue and profit. It has Bt3.36bn in loans from EXIM Bank to invest in a 70MW solar farm in Japan. It plans to list CHOW Energy on mai this year. (Kao Hoon, 21/09/16)
Comment: Quite the development but not a surprise given their strategy
DEMCO won EGAT project worth Bt1bn which will expand its backlog to Bt8bn. It plans to bid for another new job. It expects 2016 revenue to grow 15% from last year supported by more jobs waiting to be booked. (Thun Hoon, 21/09/16)
Comment: Question is still how much more money will they lose from fixing those wind turbines? A gambling man may be willing to take a bet that 3Q could actually show a profit for the first time this year.
AOT expects 2016 profit of more than Bt19bn. It expects 4Q16 profit of Bt4.2bn, growth of 10% YoY, supported by more passengers and more flights. (Kao Hoon, 20/09/16)
Comment: There have been mumurs that if Thailand really does crack down on the zero dollar tourists from China that AOT could lose 10% of revenues
BEAUTY sets 2016-2020 revenue target growth of 20% each year supported by expanding into Asia. It expects to conclude a deal to set up a distributor in Hong Kong in 4Q16 and increase revenue from other business. It expects 2016 revenue of more than Bt2.1bn. (Kao Hoon, 20/09/16)
BSM expects 2H16 revenue and profit to grow supported by high season and signing a contract for a Bt100mn job in 4Q16. It maintains its 2016 revenue target at Bt700mn. (Kao Hoon, 20/09/16)
BWG plans an industrial waste power plant. Recently, it cooperated with EGCO to study a project to develop an industrial waste power plant. It expects to set up the first industrial power plant capacity of 9.4MW and COD within 2017. (Kao Hoon, 20/09/16)
Comment: This funny little company seems to be finding a way to make things happy
CGD gets B13bn for project. SET-listed Country Group Development Plc (CGD) has secured US$375 million (about 13 billion baht) through China Ping An Bank to continue developing luxury project Chao Phraya Estate. (Bangkok Post, 20/09/16)
Comment: Sounds like they had quite the capital crunch…
AGE maintain its revenue target growth of 10% supported by more than 2mn tons coal sales. It expects to finish a deal with a partner to do a coal warehouse in Vietnam by the end of 2016. (Kao Hoon, 19/09/16)
CCN expects to get a government job from the Industry 4.0 project. It expects 2H16 earnings to grow, supported by booking backlog of Bt100mn. It is confident that 2016 revenue will reach its 20% target growth backed by Bt150mn from its telecommunication business. It is negotiating with a partner to do alternative power business . (Thun Hoon, 19/09 /16)
Comment: Well not sure how much of an impact the government news will have on this little IT System integrator. I’d turn my eyes to the bigger players SAMTEL and AIT and possible even MFEC
FSMART expects 3Q16 profit record new high of Bt100mn or growth 40% YoY supported by Boon Term Top Up machine. (Kao Hoon, 19/09/16)
Comment: No surprises here, they just keep growing
PIMO expects 2016 profit to jump 92% to Bt46mn supported by more orders. It expects 2017 profit of Bt72mn due to new orders from US customer in 1Q17. It plans to invest in BLDC motor technology. (Kao Hoon, 19/09/16)
Comment: Another small player, THB 1 bn mkt cap, not particularly cheap nor scalable.
PSTC expects 2016 revenue growth and profit to double after booking backlog of Bt300-400mn. It expects revenue from its power plant to grow in 4Q16. It has completed a deal to do a biomass power plant and 50MW cogeneration power plant in ASEAN. (Kao Hoon, 19/09/16)
Comment: There’s a lot of news about biomass and waste to energy expected to be announced within the next few weeks.
PTT expects to bring service stations to 200 this year. It expects revenue of Bt520bn. It has a plan to expand to 500 service stations abroad within five years and sell more Amazon franchises in Japan. (Thun Hoon, 19/09/16)