Tag Archives: acap

Stocks in the news (acap, centel, chow, demco, epco, epg, ifec, jas, lh, ncl, nncl, plat, prin, rs, spali) 21.09.16

ACAP
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
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
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
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.

Continue reading Stocks in the news (acap, centel, chow, demco, epco, epg, ifec, jas, lh, ncl, nncl, plat, prin, rs, spali) 21.09.16

Stocks in the news (acap, akr, bkd, chg, gold, ivl, lit, lph, oishi, ppp, siri, spa, tfg, tipco, uac) 25.07.16

ACAP
ACAP plans to expand to Cambodia and Myanmar via subsidiary “Capital OK” and expects to conclude the deals this year. It targets loans to reach Bt3bn after reported 1H16 loans of Bt2.1bn. It plans to issue a new debenture worth Bt600mn in 4Q16. It expects to list a subsidiary on the SET. (Thun Hoon, 25/07/16)
Comment: It isn’t unimagineable to see Thai financial co’s to gain strong market share in Laos and Cambodia, Myanmar however, could be a tougher nut to crack
 
AKR
AKR expects 2016 revenue growth of 25% supported by outstanding 2H16 earnings. It expects 2016 earnings to be expanded by government projects such as mass transit lines, SEZ and property that will support demand. (Thun Hoon, 25/07/16)
BKD
BKD expects 2H16 to be good. It plans to bid for 2-3 new jobs worth Bt3bn, of which it expects to get Bt1.5bn. It has backlog of more than Bt1.7bn and expects to book this in 3Q16. (Khao Hoon, 25/07/16)
CHG
CHG spent Bt600mn to invest in Ruamphat Chacherngsao Hospital. Construction will begin this September and it will open in 2018. (Khao Hoon, 25/07/16)
GOLD
GOLD expects to report good earnings in 2Q16 in mid-August. Its presales hit Bt8.5bn for the first half of the year with Bt3bn backlog. (Khao Hoon, 25/07/16)
Comment: The story for this company is rather well covered, residential property sales with some offices and a REIT.
 
IVL
IVL expects 2Q16 net profit to reach Bt2.5bn driven by higher sales and higher spread between PTA and PET. (Thun Hoon, 25/07/16)
Comment: And another revaluation of an acquisition ?
 
LIT
LIT expects 2H16 earnings to be good from seasonality in 3Q16. It expects revenue, net profit, and loan portfolio to grow not less than 30%. It expects 2016 performance to mark a record high. (Thun Hoon, 25/07/16)

Continue reading Stocks in the news (acap, akr, bkd, chg, gold, ivl, lit, lph, oishi, ppp, siri, spa, tfg, tipco, uac) 25.07.16

Stocks in the news (acap, bkd, cpf, major, mint, mtls, pcsgh, prin, snc, ticon, tog, tpch, uac, vgi, wice) 13.05.16

ACAP
ACAP reported 1Q16 profit of Bt16mn, up 244%, after changing strategy to focus on major customers and get new ones. It targets loans of Bt2bn by end-2016. (Kao Hoon, 13/5/16)
BKD
BKD reported net profit of Bt16.59mn, growth of 27%. It plans to reverse doubtful account of Bt28mn and profit on a delayed project of more than Bt20mn in 3Q16. It plans to bid for work worth Bt1bn. (Kao Hoon, 13/5/16)
CPF
CPF expects sales to grow 10-15% in 2016. It reported 1Q16 profit of Bt3.76bn, growth of 27% and revenue of Bt105bn, up 10%. It has an investment budget of Bt10bn. It plans to issue a debenture worth Bt10bn in 2H16. (Kao Hoon, 13/5/16)
Comment: A main reason for the market performing well recently, its GPMs were 400 bps higher than most analysts forecasts
MAJOR
MAJOR expects revenue and profit target growth of 10% in 2016. It expects 2Q16 will be new high. It will report 1Q16 earnings today. It has budgeted Bt1bn to add 100 movie screens in Thailand and abroad. (Kao Hoon, 13/5/16)
MINT
MINT reported 1Q16 profit of Bt3.57bn or growth of 66% supported by booking extra item plus an uptrend in its food and hotel business. (Kao Hoon, 13/5/16)
Comment: It’s just incredible that they have been able to grow this well despite being @ a higher base each and every year

Continue reading Stocks in the news (acap, bkd, cpf, major, mint, mtls, pcsgh, prin, snc, ticon, tog, tpch, uac, vgi, wice) 13.05.16

Stocks in the news (acap, bafs, cfresh, chow, epg, irpc, jubile, kbank, loxley, lph, sam, tfg, tsr, twpc, uac, xo) 21.03.16

ACAP
ACAP expects 1Q16 net profit to back to black and stay there for the remainder of this year. It expects to wipe out retained losses this year. It expects to make a decision on the credit card business with foreign partners by mid-2016. (Khao Hoon, 21/03/16)
Comment: Given that the credit card business is already well and truly saturated in Bangkok, I don’t see how ACAP can make a dent in it.

BAFS
BAFS is budgeting Bt8bn to invest in an oil pipeline in the north, expects this to handle 14,000mn liters oil by 2019. It expects 2016 revenue to grow not less than 11%. It targets fuel demand for aviation to grow 6-7%. It is considering investing in the resort business. (Thun Hoon, 21/03/16)
Comment: BAFS aim here is to effectively act as the owner and collect a fee from the amount of oil transported through the pipeline, an oil highway if you will.

CFRESH
CFRESH expects 2016 revenue to grow 10-15% brought by orders from the US and Japan. It expects gross margin to improve from last year to 13-14% after its customers in Europe increased orders. Its subsidiary abroad is having lower net losses after a business restructuring. (Thun Hoon, 21/03/16)

CHOW
CHOW expects the steel industry to recover because it got Bt1.6bn in orders. It expects to benefit from a 30% increase in steel price. It expects 80MW power business to contribute revenue of Bt1.2bn. (Thun Hoon, 21/03/16)
Comment: They’ve been incredibly active on the power front trying to buy plants and investing in Japan

Continue reading Stocks in the news (acap, bafs, cfresh, chow, epg, irpc, jubile, kbank, loxley, lph, sam, tfg, tsr, twpc, uac, xo) 21.03.16

Stocks in the news (abc, acap, drt, earth, iec, jwd, kkc, news, pstc, ptt, sat, sc, sutha, tisco, tks, tmi, top, uac) 13.01.16

ABC
ABC plans to invest in education business. It expects to sign an MoU with Lanna International School in Chiang Mai, valued at Bt150mn. It plans to launch the Bt2.5bn ABC Residence Sukhumvit39. (Khao Hoon, 13/01/16)
Comment: Wait…weren’t they going to do IT? And then renewable energy? And now its an international school and property development, gotta love the consistency here.

ACAP
ACAP expects net profit this year after restructuring its business. It expects 4Q15 earnings to be good. It targets 2016 loan portfolio of Bt2bn. It plans to broaden its SME customer base. (Thun Hoon, 13/01/1)

DRT
DRT plans to export to CLMV+1. It targets exports to comprise 20% of sales. It plans to increase domestic sales via modern trade and property projects upon economic recovery. It expects 2015 net profit to be good. (Thun Hoon, 13/01/16)
Comment: Regardless, growth is minuscule for the company at this point.

EARTH
EARTH plans to acquire a 40mn-ton mine. It targets 2016 revenue of Bt16bn. It expects exports to be good thanks to the baht weakening. (Thun Hoon, 13/01/16)

Continue reading Stocks in the news (abc, acap, drt, earth, iec, jwd, kkc, news, pstc, ptt, sat, sc, sutha, tisco, tks, tmi, top, uac) 13.01.16

Stocks in the news (acap, ccp, centel, crane, forth, gl, irpc, lit, mjd, ppp, ps, sawad, smart, tasco) 07.01.16

ACAP
ACAP expects 2016 performance to turn around aided by recovery in every business. It expects its loan portfolio to reach Bt2bn this year. It expects 4Q15 earnings to be the best backed by business restructuring and its loan growth. (Thun Hoon, 07/01/16)
Comment: We do wonder what else the new shareholder is going to be doing with ACAP, it does have a decent balance sheet

CCP
CCP targets 2016 revenue of Bt2.6bn (from Bt2.4bn in 2015) with net margin of over 4%. It has budgeted Bt150mn to improve its machinery and increase capacity. Its backlog is Bt2.4bn. (Khao Hoon, 07/01/16)

CENTEL
CENTEL expects 2015 revenue to achieve target of Bt19bn, with more growth in 2016. It plans to expand both food and hotel businesses. It expects to get 8-10 hotel management contracts each year. It will hold a roadshow in Singapore this week. (Khao Hoon, 07/01/16)
Comment: Still a B-grade version of MINT but their hotel side will always continue to perform well.

CRANE
CRANE is budgeting Bt200mn to invest in new equipment. It expects 2016 revenue growth of 25% on the back of a boom in construction. It plans to take part in project bidding. (Thun Hoon, 07/01/16)
Comment: There’s always been hidden value in the CRANE and it’s been well known for monkey years.

Continue reading Stocks in the news (acap, ccp, centel, crane, forth, gl, irpc, lit, mjd, ppp, ps, sawad, smart, tasco) 07.01.16

Stocks in the news (acap, akr, brock, bts, epg, fsmart, ifec, jmt, kiat, ticon, tkt, tpoly, tu, tvt, uniq) 24.11.15

ACAP
ACAP reported 3Q15 net profit of Bt3.82mn backed by loan growth. It expects 2016 revenue to be good as it focuses on SME loans. It targets Bt600mn in SME loans in 2016. (Khao Hoon, 24/11/15)
Comment: That is their existing business line, there were talks that it was going to expand into other businesses as well. ACAP had always been a rather cheap company on asset value that every once in a while became popular with retail investors, I am curious to see what the new shareholders will do here

AKR
AKR and Nonthaburi cooperatives take part in 5MW solar farm in government unit bidding. It has bid in the Bt1.5bn transformer project for the PEA, winner of which is expected to be announced by this year. (Khao Hoon, 24/11/15)

BROCK
BROCK expects 2015 revenue growth to meet its 10% target. It expects 4Q15 earnings to be good backed by transfers from Bt40mn backlog. It plans to invest in mix-use property in Phuket (500 rai, valued at Bt10bn). It expects 2016 revenue to be good on government property stimulus measures. (Thun Hoon, 24/11/15)

BTS
BTS expects 2HFY16 to be better than 1HFY16 on seasonality. It has budgeted Bt10bn to invest in MRT Green Line. It expects FY2016 revenue to grow 5-10% on the back of 4-6% passenger growth. It plans to sell concessions to BTSGIF. (Khao Hoon, 24/11/15)
Comment: Have a look at their balance sheet and then you’ll understand exactly what BTS’s business model is.

Continue reading Stocks in the news (acap, akr, brock, bts, epg, fsmart, ifec, jmt, kiat, ticon, tkt, tpoly, tu, tvt, uniq) 24.11.15

Stocks in the news (acap, banpu, bjchi, cpall, css, ea, fsmart, kbank, kce, ptt, rp, sawad, scn, sim, sim, sr, tcc, thai) 12.11.15

ACAP
ACAP targets net profit growth of Bt120mn after several years of net. It is ready to enter into debt restructuring like SAWAD. (Khao Hoon, 12/11/15)
Comment: Ahhhhh is that what the new shareholders in ACAP are planning to do? Well then they are going up against SAWAD and JMT

BANPU
BANPU reported 3Q15 net loss of Bt72.27mn due to lower coal price. It plans to list Banpu Power on the SET to expand its electricity business. It expects electricity production to be 2.4MW. (Khao Hoon, 12/11/15)
Comment: Brokers are still trying to push banpu as a buy, I still just don’t see it.

BJCHI
BJCHI reported 3Q15 profit of Bt419mn, growth of 63% YoY. It plans to bid for projects. (Khao Hoon, 12/11/15)
Comment: Shouldn’t this make people less worried about the future of BJCHI?

CPALL
CPALL reported 3Q15 net profit of Bt3.258bn, growth of 20.8%. Its revenue is Bt100.063bn with 9.60% growth YoY. The growth came from expanding 7-Elven stores to 8,618 or 30.7% growth. (Khao Hoon, 12/11/15)
Comment: And we are all still waiting for MAKRO’s share price to rise above THB 40/share so that CPALL may finally sell a stake there.

CSS
CSS reported 3Q15 net profit of Bt191.97mn with 30% growth YoY. Its growth came from business expansion. It expects 4Q15 earnings to be impressive and is ready to enter into telecommunication and energy business. It targets this year’s revenue at Bt4.8-5.0bn or 20-25% growth. (Khao Hoon, 12/11/15)
Comment: It seems priced and we’re rather surprised that the stock didn’t run further on the back of the 4G announcements.

Continue reading Stocks in the news (acap, banpu, bjchi, cpall, css, ea, fsmart, kbank, kce, ptt, rp, sawad, scn, sim, sim, sr, tcc, thai) 12.11.15

Stocks in the news (30.10.15)

Names today: ACAP, COM7, CPN, IFEC, CPN, CSP, IFEC, JAS, KC, NUSA, ORI, PE, RCI, SAMART, SENA, SMART, TSF

ACAP
ACAP expects to show net profit next year on the back of loan extensions and cost control although this year may have a net loss. It is working with AJD to invest in an online loan machine valued at Bt400mn. It plans to acquire more debt to increase its debt collection portfolio. (Thun Hoon, 30/10/15)
Comment: We do wonder who the new shareholders are in ACAP and what their plans will be with this entity in the future

COM7
COM7 expects to show net profit in 4Q15 backed by 4G auction and iPhone6-plus launch. It expects 2015 revenue to achieve its target. It expects 2016 revenue to grow 5%. It plans to open more branches to expand to the SME market. (Thun Hoon, 30/10/15)
Comment: So, wait for the price to decline and buy again when the iPhone 7 releases?

CPN
CPN plans to expand to Myanmar. It targets to open hotel and department stores to cover AEC. It expects 2016 revenue to grow 10-15% backed by tourism. (Thun Hoon, 30/10/15)
Comment: The family already has a foothold there, so this is just a natural extension of the group’s overall business

Continue reading Stocks in the news (30.10.15)

Management Trades 12/10 – 16/10

Notable Transactions

Buy(s) THB 169 mn

  • MALEE – Looks like a swap between the Central family members
  • RS – And the owner keeps buying and buying

Sell(s) THB 959 mn

  • BEC – Another large block sale by the maleenont family
  • MALEE – See above
  • MINT – Quite rare to see this director sell his shares in MINT, he’s been there for the past….15 or so years
  • ACAP – It’s been news in the market that the major shareholders of ACAP have sold out.
  • KC – This property company is somehow trading @ THB 2.5 bn mkt cap even though it’s profits have never been higher than THB 40 mn in the past 5 years
  • TIPCO – These shares have run up because of its holding in TASCO, no surprise seeing a large sale here.

mgmt_trade