Tag Archives: AAV

Stocks in the news (aav, bay, bigc, centel, ck, com7, cpf, cwt, gold, ichi, ocean, uwc) 09.09.16

AAV
AAV expects 3Q16 to grow 20%, driven by Chinese tourists. It plans to open four more routes after already adding 10 routes this year. It is ready for the AOC assessment on Sept 12. (Thun Hoon, 7/9/16)
Comment: A discussion with the founder, T.F., indicates that he’d like to take back all of the Air Asia’s that aren’t fully under his control. I wonder what the outcome shall be for Air Asia Thailand
 
BAY
BAY goes for home loans with interest rates of 4-5% for seven years. It targets new home loans to grow from Bt52bn to Bt65bn and limited NPLs at 2.5-2.6%. (Khao Hoon, 9/9/16)
Comment: This is an amazing movement, don’t be surprised to see more and more clients shift to BAY
 
BIGC
BIGC to renovate Mahachai branch for Bt100mn. It plans to expand the area by 15,920 square meters. (Khao Hoon, 9/9/16)
CENTEL
CENTEL expects to perform well in 2H16, driven by its food business. It plans to expand its business abroad and buy a hotel in Dubai. (Thun Hoon, 7/9/16)
CK
CK increases revenue target to Bt44-45bn from Bt35-38bn. It plans to bid in the Bt200bn government project bids, lifting its backlog above Bt100bn. It says 2016 earnings will be better than 2015. (Thun Hoon, 7/9/16)
COM7
COM7 expects iPhone7 to boost sales. The iPhones will be available at stores around October this year. (Khao Hoon, 9/9/16)
Comment: It had a little pop pre the iPhone7 announcement but the market just took it down with everything else.

Continue reading Stocks in the news (aav, bay, bigc, centel, ck, com7, cpf, cwt, gold, ichi, ocean, uwc) 09.09.16

Stocks in the news (aav, amata, amatav, ap, bem, big, bkd, bts, cmo, cpi, cwt, gold, itel, ktis, pttgc, rjh, samco, solar, spa, tacc, ureka) 23.08.16

AAV
AAV’s load factor was a high 85% in 1H16. Fares are also rising and jet fuel prices falling. It plans to open new routes in 2H16. It wants to cooperate with AOT to develop Don Mueang Phase 3 which will increase capacity to 40mn/year from 30mn/year. (Thun Hoon, 23/08/16)
Comment: I do wonder if they can get their own terminal like in KL
 
AMATA
AMATA target 2016 revenue growth of 5% and the sale of 1,000 rai of land. It is studying an investment in an industrial estate in Myanmar, with some decision expected by the end of the year. (Kao Hoon, 23/08/16)
AMATAV
AMATAV expects 2016 revenue to reach Bt1.4bn due to sale of land and good facilities rental and services business. It will book revenue from the sale of 193.75 rai at end-2016. (Kao Hoon, 23/08/16)
Comment: They are up against a rather big player in KBC (vietnamese co) and given that this is AMATA, I doubt they’ll be as good as they should be.
 
AP
AP is confident presales will achieve target of Bt31bn. It plans to launch three projects worth Bt16bn to stimulate sales in 2H16. It expects revenue of Bt23.7bn and has backlog of Bt12.8bn. (Thun Hoon, 23/08/16)
BEM
official opening of Sriratch expressway, Bangkok outer ring road. BEM expects 97,000 vehicles per day in the first year. It expects average revenue in Sep-Dec 2016 of Bt145mn per month and 2017 revenue of Bt1.8bn . (Kao Hoon, 23/08/16)
BIG
BIG plans two big events in 2H16 to support sales. It is confident that 2016 revenue will grow more than 20%. It plans to add 4-5 Wonder Photo Shop branches this year. (Kao Hoon, 23/08/16)
Comment: A quick walk past their shop during the week shows that their Photo Shops are bustling with business. 

Continue reading Stocks in the news (aav, amata, amatav, ap, bem, big, bkd, bts, cmo, cpi, cwt, gold, itel, ktis, pttgc, rjh, samco, solar, spa, tacc, ureka) 23.08.16

Stocks in the news (aav, bcpg, ecf, fsmart, ifs, irpc, itel, jasif, sithai, top, trc, tta, upa, vte) 04.08.16

AAV
AAV expects 2Q16 growth to double to profit of over Bt400mn supported by more passengers. It expects Chinese tourists continue strong in 2H16 due to high season. (Thun Hoon, 04/08/16)
Comment: And lower oil prices
 
BCPG
BCPG poised for major ‘green’ power expansion – BCPG, a green-power subsidiary of Bangchak Petroleum, has set a target of achieving 1,000 megawatts of installed capacity by 2020, as part of its business expansion after going public. (The Nation, 04/08/16)
Comment: Not sure on the timeline for this IPO but its apparently going to happen this year.
 
ECF
ECF plans to do a warehouse business in ASEAN. It has received more orders from a Japanese customer that it expects will bring in revenue of Bt12-15mn each month. It expects 2H16 earnings to be good supported by high season and is confident that revenue will achieve its target growth of 12-15%. (Thun Hoon, 04/08/16)
FSMART
FSMART expects 2Q16 earnings to be a new high with profit of Bt96.40mn or growth of 44.70%. It expects net profit to continue to rise to new highs in future quarters as it adds more online top-up machines. It expects 2016 profit at Bt379mn, up 39.50%. (Kao Hoon, 04/08/16)
Comment: Yet again this company continues to grow and grow, naturally in the next 2 years the rate of growth will begin to decline as the absolute number of machines added have a smaller impact
 
IFS
IFS reported 2Q16 net profit of Bt34.39mn, up 21% YoY due to lower provisions and a rise in NIM to 8%. It is confident that growth in factoring in 2016 will reach 15-20% from Bt26bn last year. (Thun Hoon, 04/08/16)

Continue reading Stocks in the news (aav, bcpg, ecf, fsmart, ifs, irpc, itel, jasif, sithai, top, trc, tta, upa, vte) 04.08.16

Management Trades 13/06 – 17/06

Notable transactions

Buy(s) THB 606 mn

  • BDMS – Massive buying again!
  • COL – Now this interesting, I’ve always wondered when or how this company will be able to be successful. Would Central Group shove its Lazada purchase into COL?
  • PLANB – Their 1Q #’s were awful hence the ~20% drop in share price, but the owners seem to still believe in its future

Sell(s) THB 8.2 bn

  • AAV – Boom the huge sale to King Power
  • KSL – Are they still afraid of sugar prices?
  • IHL – The MD sells some 2% of outstanding shares

MGMT_trades

Stocks in the news (aav, beauty, fsmart, gencho, glow, gunkul, ksl, npp, siri, smpc, solar, tacc, top, tpch, vibha, wave) 15.06.16

AAV
Confident in AAV’s management team — The Srivaddhanaprabha family of duty-free operator King Power has insisted it does not plan to shake up Thai AirAsia nor delist the firm that owns the majority stake in Thailand’s largest budget carrier. (Bangkok Post, 15/6/16)
Comment: Get ready to see more duty free sales on every flight!
 
BEAUTY
BEAUTY plans to expand both at home and abroad. It expects to sign a contract to distribute cosmetics in Hong Kong and Taiwan this year. It expects 2016 revenue to be higher than Bt2.1bn. (Thun Hoon, 15/06/16)
Comment: It’s just impressive what they’ve done
 
FSMART
FSMART says Boon Term Top up machines have reached 77,000. It expects this to boost its 2Q16 performance. It targets 90,000 machines at the end of this year. (Thun Hoon, 15/06/16)
GENCO
GENCO expects 2016 net profit to mark a record high with good performance in all business segments. It expects more clients to bring good 2Q16 earnings. It expects to book revenue from its property business (C Space Bang Yai and B-Live condo). It plans to launch a Bt600mn project in the Ekkamai area. It plans to take over a power business. (Thun Hoon, 15/06/16)
GLOW
GLOW is budgeting Bt3-5bn to invest in an SPP. It expects this to replace the old one for which the PPA will expire in 2018-2021. It plans to invest in the power business at home and abroad. It targets 5,000MW/year. (Thun Hoon, 15/06/16)
Comment: And the dividend machine continues

Continue reading Stocks in the news (aav, beauty, fsmart, gencho, glow, gunkul, ksl, npp, siri, smpc, solar, tacc, top, tpch, vibha, wave) 15.06.16

Stocks in the news (aav, ap, bkd, bts, jmart, ori, ptt, seafco, smt, spali, synex, tfg, tpoly, ttcl, tvd, wha) 24.05.16

AAV
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
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
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
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
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.

Continue reading Stocks in the news (aav, ap, bkd, bts, jmart, ori, ptt, seafco, smt, spali, synex, tfg, tpoly, ttcl, tvd, wha) 24.05.16

Stocks in the news (aav, age, bigc, dtac, jas, pk, prin, sam, sci, sena, spali, super, tog) 03.05.16

AAV
AirAsia mulls Thai hub – AirAsia, the continent’s largest no-frills airline group, is keen to boost its position in Thailand with the relocation of its regional nerve centre from Indonesia to here. In a discussion with Prime Minister Prayut Chan-o-cha yesterday, AirAsia chief executive Tony Fernandes said the group would also like to build its own airports in Thai provinces such as Surat Thani. Furthermore, AirAsia is interested in a partnership with flag carrier Thai Airways International (THAI) to create a business synergy without equity partnership or competition, said Deputy Prime Minister Somkid Jatusripitak. AirAsia wants to strengthen its presence in Thailand, which it perceives as a gateway to Asean with significant growth potential in aviation businesses, said Mr Somkid. (Bangkok Post, 30/4/16)
Comment: It would obviously be a huge positive for AirAsia if they can pull it off here in Thailand, but would the government be willing to throw away a monopoly?

AGE
AGE expects revenue of Bt300mn from the service business. It expects to increase export portion to 30%. It is confident that 2016 revenue will grow 10% supported by coal business recovery and it has backlog of Bt200mn. (Thun Hoon, 3/5/16)
Comment: I’ve heard about a supposed recovery in coal since…2011?

BIGC
Central, partner buy Big C VN for 920m euros – CENTRAL GROUP in partnership with Nguyen Kim Group yesterday announced the acquisition of Big C Vietnam from France’s Casino Group for 920 million euros (Bt36.6 billion). Central said the acquisition represented the strength of its will to keep expanding its business in Asia. “Central Group and Nguyen Kim Group have officially acquired Big C Vietnam, which has been operated for more than 18 years,” said Tos Chirathivat, CEO of Central Group. He said Big C Vietnam had 43 stores nationwide, comprising 33 hypermarkets and 10 convenience stores, and 30 shopping malls. “Total revenue in 2015 was approximately 586 million euros.” (The Nation, 30/4/16)
Comment: Boom!

DTAC

DTAC urges full spectrum allocation road map – TOTAL ACCESS Communication (DTAC) has recommended that the government draw up a spectrum road map for the allocation and auction of the 700-, 850-, 1,800-, 2,300- and 2,600-megahertz bands to support affordable and universal access to fixed and mobile broadband Internet. (The Nation, 30/4/16)
Comment: Of course DTAC needs a clear roadmap, but since when has any Thai government (ex thaksin) been able to stick to a clear plan and execute it? And if there is no clear roadmap, what will happen to DTAC?

Continue reading Stocks in the news (aav, age, bigc, dtac, jas, pk, prin, sam, sci, sena, spali, super, tog) 03.05.16

Stocks in the news (aav, bbl, cho, cpf, dtac, earth, planb, scc, sena, tacc, tfg) 25.04.16

AAV
Rumors that King Power has completed the deal to buy AAV stock from Tassapon group for Bt4.15/share, which is double book value. They are not buying over 25% to avoid a tender offer. (Kao Hoon, 25/04/16)
Comment: Another rumour re AAV, I don’t quite see why King Power would do this transaction. 
BBL
Regulator to sue BBL for payment — The broadcasting regulator will sue Bangkok Bank (BBL), the guarantor of cash-strapped Thai TV Co, after the bank failed to show up and pay 1.78 billion baht on behalf of the digital TV operator on April 18. (Bangkok Post, 25/4/16)
Comment: Then in theory JAS should be sued as well. This lawsuit could take decades to be sorted out.
CHO
CHO board approved a dividend of Bt0.0308/share. This will be both cash (Bt0.0058/share) and stock (10 old shares to 1 dividend). It plans to change its company name. It targets 2016 revenue growth of no less than 5-10% from last year. It has backlog of Bt650mn. (Thun Hoon, 25/04/16)
CPF
CPF targets average sales growth of 10% for the next five years. It expects sales to reach Bt700-800bn in 2020. It plans to expand its debenture to Bt100bn from Bt80bn. It plans to acquire a business in Brazil. (Kao Hoon, 25/04/16)
Comment: That would be quite the achievement, growing revenues by 40% over 4 years for such a large co, several acquisitions would have to happen
DTAC
DTAC will not bid for 900 MHz. It reported net profit in 1Q16 of Bt1.3bn, down 45% due to fall in EBITDA, higher depreciation and costs. (Kao Hoon, 25/04/16)
Comment: So how much would you pay for their market share?

Continue reading Stocks in the news (aav, bbl, cho, cpf, dtac, earth, planb, scc, sena, tacc, tfg) 25.04.16

Stocks in the news (aav, cwt, eforl, hmpro, kbank, kiat, maco, ori, planb, ptt, stec, tfd, wiik, win) 31.03.16

AAV
AAV sets 2016 passenger target of more than 16.9mn passengers from 14.8mn. In THE first two months, the number of passengers grew 20%. It has budgeted Bt500mn to buy five planes and for oil price hedging. (Kao Hoon, 31/03/16)
Comment: Without a doubt they are the #1 airline carrier in town. 
CWT
CWT increases revenue target growth to Bt1.7bn supported by wood export business. It expects to get a new customer in the automotive business to increase its backlog by Bt1.5bn. (Thun Hoon, 31/03/16)
EFORL
EFORL reports subsidiary “Siam Snail” plans to open the first snail eco farm in Asia after completing a study. (Thun Hoon, 31/03/16)
Comment: I have no idea how this will add value to its business…a most rather curious case of diversification
HMPRO
HMPRO expects profit in 1Q16 of Bt819mn or growth of 12% supported by positive SSS growth, new stores and profit at the Mega Home format. (Kao Hoon, 31/03/16)

Continue reading Stocks in the news (aav, cwt, eforl, hmpro, kbank, kiat, maco, ori, planb, ptt, stec, tfd, wiik, win) 31.03.16

Thailand is #1 for China Tourists

And here you go…I wouldn’t be surprised to see 50% of all tourists in Thailand come from China within the next 5 years. So who benefits? It is isn’t necessarily just the airport (AOT), airlines (AAV, BA, NOK, THAI) nor the hotels (ERW, MINT, CENTEL, DTC) but names like BEAUTY have said that they’ve benefited from Chinese tourists, so the question is who else will benefit and be next sector/company that will grow?

Thailand is #1 for Chinese Tourists

Source: Bloomberg