Tag Archives: bafs

Stocks in the news (auct, bafs, demco, dsgt, ecf, egco, ktb, nep, richy, seafco, simat, super, tsr, tta, vte) 05.09.16

AUCT
AUCT expects to have good news soon. It expects 2H16 to be growth and expects 3Q16 to recovery due to car bidding is recovery; It had bid for a 30k car in 1H16. (Thun Hoon, 05/09/16)
BAFS
BAFS expects 2016 revenue and profit to record a new high, as volume increases with the number of flights. It expects 2H16 to grow due to high season. (Kao Hoon, 05/09/16)
Comment: And with the continued expansion of the Airport this company is sitting pretty
DEMCO
DEMCO expects its business to pass bottom after the budget for repairing Huay Bong 2-3 has been settled. It expects 2H16 to be in the black. It is confident that 2016 revenue will reach its target of Bt6bn, growth of 10-15%, supported by more than Bt6.4bn in backlog waiting to be booked. (Kao Hoon, 05/09/16)
Comment: Should this issue pass, then the last issue will be with WEH potential IPO – if/when that will occur
 
DSGT
DSGT expects 2016 revenue to be better than 2015’s revenue of Bt7.5bn, backed by customer expansion and expansion in Thailand and abroad. It plans to launch a big campaign to stimulate sales. (Thun Hoon, 05/09/16)
Comment: Just out at lunch time was the news that a PE firm has bid for THB 5.00/share for all of DSGT
ECF
ECF expects 2016 revenue growth 12-15% due to furniture business is recovery. It plans to negotiate with partner to invest in power plant in Thailand and abroad which expects to conclude in 3Q16. Recently, It signed MOU with AF to do a factoring loan to members and supplier. (Kao Hoon, 05/09/1 6)
EGCO
EGCO expects 2016 operating profit to exceed Bt8bn, growth of over 5%, after reporting operating profit of Bt4.3bn in 1H16. It continues to expand electricity business in Thailand and abroad and expects capacity to reach 5,000MW by 2019. (Kao Hoon , 05/09/16)
KTB
KTB rejigs loan price formula. Krungthai Bank (KTB), the country’s largest state-owned bank by assets, has revised its pricing formula for government and state enterprise loans to be more competitive after significant falls over the past few years. (Bangkok Post, 05/09/16)

Continue reading Stocks in the news (auct, bafs, demco, dsgt, ecf, egco, ktb, nep, richy, seafco, simat, super, tsr, tta, vte) 05.09.16

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)

Continue reading 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

Stocks in the news (bafs, cnt, ecf, epg, fpi, ifec, jwd, kbank, ksl, mpg, pjw, smt, tks, tog) 08.06.16

BAFS
BAFS is confident that revenue will grow more than 9% in 2016 and expects net profit to be a new high, supported by a 7-8% increase in volume. (Kao Hoon, 08/06/16)
Comment: A natural grower with AOT
 
CNT
CNT expects 2016 earnings to be positive and plans to bid for a new job. It will change strategy to focus on high gross margin job at 4-6% to support earnings. Despite the loss in 1Q16 it targets 2016 revenue of Bt6.5bn. (Thun Hoon, 08/06/16)
Comment: When the entire industry picks up then CNT can finally win decent projects again, until then, I don’t expect much
 
ECF
ECF plans to bid for a 36MW biomass power plant on June 15-30. It expects 2Q16 furniture sales growth of 12-15%. It is confident that 2016 revenue will hit target of Bt1.5bn. (Kao Hoon, 08/06/16)
Comment: If thats the plan, expect to hear a PP or recap coming from them
 
EPG
EPG expects FY2017 earnings to grow over Bt1.6bn supported by more sales and increased capacity. (Kao Hoon, 08/06/16)

Continue reading Stocks in the news (bafs, cnt, ecf, epg, fpi, ifec, jwd, kbank, ksl, mpg, pjw, smt, tks, tog) 08.06.16

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 (bafs, ck, cpn, epg, intuch, ivl, ndr, planb, pttgc, spcg, tog, true) 18.02.16

BAFS
BAFS reported net profit of Bt957mn in 2015. It will pay dividend of Bt0.85/share, XD on May 3. It will also pay a special dividend of Bt0.25/share, XD on 1 March 2016. It plans to expand its business to hotels, property and renewable energy. (Thun Hoon, 19/2/16)
Comment: A consistent dividend payer and with the Don Muang airport expanding it will continue to see volume growth
CK
CK expects to get a job worth Bt20bn. The company targets 2016 revenue of more than Bt30bn supported by backlog worth Bt90bn. (Khao Hoon, 19/2/16)
CPN
CPN will pay a dividend of Bt0.70/share, XD on 26 April 2016. It plans to issue a debenture worth not more than Bt10bn. (Thun Hoon, 19/2/16)
EPG
EPG is confident that revenue in 2015-2016 will reach Bt8.5-9bn, growing 25-30%. It has budgeted Bt100mn to improve its three product groups with a budget of Bt1.2bn for M&A. (Khao Hoon, 19/2/16)
Comment: The question here is how far will the cost savings and depressed commodity prices take their earnings

Continue reading Stocks in the news (bafs, ck, cpn, epg, intuch, ivl, ndr, planb, pttgc, spcg, tog, true) 18.02.16

Co Visit: Bangkok Aviation Fuel Services (BAFS)

AFS was founded in 1983 under a cabinet resolution to set up an integrated fuel facility for Don Mueang airport.

Bangkok Aviation Fuel Services Plc (BAFS) is the sole provider of aviation refuelling, depot and hydrant services at five airports in Thailand. Managing director Prakobkiat Ninnad discusses the company’s strategy and outlook.

What is BAFS’s business model?

Thai Airways International Plc was assigned to coordinate with the major oil companies and the Airport Authority of Thailand (now Airports of Thailand Plc or AoT) to found the company.

bafs

Prakobkiat: Focus on quality and efficiency

BAFS’s core services consist of three parts: the aviation fuel depot, hydrant pipeline system and aircraft refuelling services. These services are provided to the Don Mueang, Suvarnabhumi, Koh Samui, Sukhothai and Trat airports.

In addition, in 2013 we acquired Fuel Pipeline Transportation Ltd (FPT), which provides multiproduct pipeline transport services from the Bangchak refinery and Chong Nonsi depot to the BAFS fuel depot at Don Mueang and ends at the FPT depot in Ayutthaya’s Bang Pa-in district.

This complements our pipeline service from Makkasan to the fuel depot at Suvarnabhumi airport.

Continue reading Co Visit: Bangkok Aviation Fuel Services (BAFS)

Stocks in the news (advanc, bafs, bjchi, ecf, erw, estar, erw, estar, fsmart, gcap, intuch, malee, ptt, sorkon, stec, thcom) 19.08.15

ADVANC
ADVANC maintains its 3% revenue growth target this year. The company plans to expand to the 4G network in 3-4 months if it wins the 4G auction. (Thun Hoon, 19/8/15)
BAFS
BAFS plans to raise this year’s revenue target in response to high demand. It plans to use Bt600mn CAPEX this year for business expansion. (Khao Hoon, 19/8/15)
Comment: Should AOTs Phase 2 expansion go ahead, BAFS is a natural beneficiary of this.
BJCHI
BJCHI expects QoQ stronger revenue in 3Q15 and targets 15% YoY revenue growth this year backed by baht depreciation and more projects. (Thun Hoon, 19/8/15)
Comment: When oil prices first declined to 50 bbl I still wasn’t worried about the prospects of BJCHI, now with oil @ 40 bbl I still feel the same
ECF
ECF believes its revenue growth target of 12% this year is achievable. Revenue from local and overseas is strong and it expects to boost the proportion of revenue from exports to not less than 20% of total revenue this year. (Khao Hoon, 19/8/15)

Continue reading Stocks in the news (advanc, bafs, bjchi, ecf, erw, estar, erw, estar, fsmart, gcap, intuch, malee, ptt, sorkon, stec, thcom) 19.08.15

Co Visit: Bangkok Aviation Fuel Services PCL (BAFS)

Bangkok Aviation Fuel Services Plc (BAFS) provides aviation refuelling and related services at Suvarnabhumi, Don Mueang and other airports in Thailand. Founded in November 1983, it was listed on the Stock Exchange of Thailand in April 2002.

bafs

Managing director Prakobkiat Ninnad discusses the company’s strategy and outlook.
What is BAFS’ business model?
BAFS was founded in 1983 as a result of a cabinet resolution to set up an integrated fuel facility for Don Mueang airport. Thai Airways International was assigned to coordinate with the major oil companies and the Airport Authority of Thailand to establish the business. BAFS’ core services are separated into three categories — an aviation fuel depot, a hydrant pipeline system and aircraft refuelling services. These services are provided to Don Mueang, Suvarnabhumi, Koh Samui, Sukhothai and Trat airports. In addition, last year BAFS acquired Fuel Pipeline Transportation Ltd, which provides a multiproduct pipeline transport service from an oil refinery and depot in Bangkok’s Chong Nongsi subdistrict to the BAFS oil depot at Don Mueang and ends at the FPT oil depot in Ayutthaya’s Bang Pa-in district. This complements our pipeline service from Makkasan to the fuel depot at Suvarnabhumi airport.

Who are your customers?
Our direct customers are the oil companies, as the oil companies and airlines negotiate directly with one another, while BAFS provides services of storage, hydrant and refuelling on behalf of the oil companies for their airline customers. This is the beauty of BAFS — the system allows open access and thus healthy competition, as the airlines can select their own suppliers. As a service provider, we focus purely on quality and efficiency to ensure delivery of jet fuel safely and on time to the airlines. This year, we expect jet fuel service volume will be 4.95 billion litres. We have also begun to diversify our income by using our storage depots for other products such as diesel. Capacity is not an issue for BAFS, though. Much growth potential remains, as fuel facilities are part of the infrastructure of an airport. Any development or expansion plan must be discussed and communicated closely with airport authorities to ensure capacity can be planned at an early stage. Thus, for Don Mueang we were able to support its additional expansion, while for Suvarnabhumi we have the necessary land to expand our facilities as well thanks to this early-stage planning.

Continue reading Co Visit: Bangkok Aviation Fuel Services PCL (BAFS)

Stocks in the news (abc, as, ah, bafs, bland, ccn, cpn, gunkul, jmart, ktb, ldc, lhk, nok, ps, thai, true, wat) 29.08.14

ABC
ABC’s financial statement reported sharp decline in net profit in 2Q14 due to the slowdown in the property market. It expects the use sale of idle land to repay debt. It is assessing the electronic business and will do a road show with a partner. (ASTV Daily Manager, 29/08/14)

AS
AS expects improving earnings in 2H14 after the company introducing new nine games, bringing it to breakeven in 2014. It expects 2015 earnings to be in the black supported by integrated online media strategy and no license amortization. (Kao Hoon, 29/08/14)
Comment: If you wanted to play an angle on online gaming in SE Asia, then AS is your only option.

AH
AH expects sales and net profit to recover in 2015 after a 10-15% fall in sales volume in 2014. 2015 improving will be supported by normalized utilization rate at 70-80%. The company is preparing to issue a bond for refinancing and working capital. (Kao Hoon, 29/08/14)

Continue reading Stocks in the news (abc, as, ah, bafs, bland, ccn, cpn, gunkul, jmart, ktb, ldc, lhk, nok, ps, thai, true, wat) 29.08.14

Stocks in the news (bafs, bjc, chow, color, dtac, kbank, mbket, thana, tta, tuf, uv) 30.05.14

BAFS

BAFS maintains revenue growth of 10% in 2014, even though it has reduced volume growth of refueling services to 4.5% YoY from 5% YoY after raising refueling services fee. It will invest in the fuel pipeline for Phase 2 of Suvarnabhumi and will conclude its investment plan in Myanmar and fuel pipeline project in north and central Thailand in 2014. (Khao Hoon, 30/05/14)

Comment: BAFS has always been a good dividend growth play, and if the airport expansion goes ahead with Suvaranbhumi then this company will grow along with it as well.

BJC

BJC expects revenue growth QoQ in 2Q14 due to a clearer political situation. It maintains revenue growth target of 10-15% YoY in 2014. It will continue its investment plans of Bt5bn to bring the proportion of overseas revenue to 50% by 2018. (Khao Hoon, 30/05/14)

CHOW

CHOW announces solar power plant of 18MW worth Bt1.8bn in Japan, expected to finish and revenue booked in 3Q14. Management says that it is investing in solar energy to support business and increase equity value in the long term. (Tun Hoon, 30/05/14)

Comment: Another renewable energy play! Add it to the list of EA, SPCG, BCP, DEMCO, IFEC etc etc

Continue reading Stocks in the news (bafs, bjc, chow, color, dtac, kbank, mbket, thana, tta, tuf, uv) 30.05.14