Tag Archives: BBL

Commentary, Research, Stocks, Updates

Stocks in the news (a, akr, ama, banpu, bbl, bdms, erw, fsmart, genco, ilink, irpc, kcm, phol, pstc, sat, sci, snc, vng, wha) 29.08.16

4 Comments
A
A plans to open new projects worth Bt6bn to bring its backlog to Bt1bn. It expects 2016 revenue to grow 30% from Bt4.45bn last year, supported by more transfers. (Thun Hoon, 29/08/16)
Comment: One of the most stable stock price charts I have ever seen
 
AKR
AKR expects 3Q16 to turn to profit after booking backlog. It expects to bid for a new job in Thailand in 2H16. It targets 2016 revenue of Bt2.5bn and plans to do a JV with in Indonesia and Vietnam with local partners for power plants abroad. (Thun Hoon, 29/08/16)
AMA
AMA has filed for an IPO with the SEC of 108mn shares. It expects to expand its fleet and vehicles to allow it to get in on potential in Thailand and abroad. (Kao Hoon, 29/08/16)
Comment: No idea who this is, but looking forward to seeing another first day bounce
 
BANPU
BANPU is preparing to increase capital of Banpu Power or BPP to shareholders at a ratio 18-25 BANPU shares to 1 BPP share. It will pay an interim dividend of Bt0.25/share, XD on Sep 8. (Kao Hoon, 29/08/16)
Comment: Another capital increase. Getting ready for the listing of BPP in the near future perhaps. 
 
BBL
BBL will pay an interim dividend of Bt2/share, payment on Sep 23. (Kao Hoon, 29/08/16)
BDMS
BDMS expects 3Q16 to be outstanding due to high season and more customers. It expects 2016 profit to reach Bt9bn, growth of 15%. It plans to expand to 50 hospitals within 2-3 years. (Kao Hoon, 29/08/16)

Continue reading Stocks in the news (a, akr, ama, banpu, bbl, bdms, erw, fsmart, genco, ilink, irpc, kcm, phol, pstc, sat, sci, snc, vng, wha) 29.08.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (abc, age, aot, banpu, bbl, ck, gift, kbank, kce, pap, ptg, sena, sgp, super, vng, thana, tpbi, tvo) 24.06.16

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ABC
ABC targets 2016 revenue of Bt2bn. It plans to wipe out retained losses by launching Above Sukhumvit 39 in 3Q16. It plans to launch ABC Pet World in 4Q16 if its board approves on June 29. (Thun Hoon, 24/06/16)
Comment: Anybody else understand the business model of this company?
 
AGE
AGE expects to take part in 36MW PPA and expects to be a winner. Its cash on hand is Bt600mn which it believes will be enough for investment. It expects 2Q16 earnings to be good thanks to cost control. It expects 2016 revenue and net profit to grow, boosted by Bt300mn from its services business. It expects exports to comprise 50%. (Khao Hoon, 24/06/16)
Comment: It’s likely to be a JV should they win a 36 MW PPA 
 
AOT
AOT reports passengers of 81mn in the first 8 months of its fiscal year (ending Sep), up 12.43%. Flights rose 10% to 519,140. (Khao Hoon, 24/06/16)
BANPU
BANPU expects to benefit from higher coal imports in China, which rose 62.2% in May 2016 compared to May 2015. (Thun Hoon, 24/06/16)
Comment: Could this be Thai Airways part 2 in terms of stock price movement?
 
BBL
BBL targets 2016 loan growth of 3-4%. It expects 2Q16 earnings to move with the economy and government stimulus measures. (Khao Hoon, 24/06/16) BIG BIG says it has risen to a 55% market share driven by expansion. It expects the industry to recover. It expects net profit to grow 71% this year and 12% next year. (Thun Hoon, 24/06/16)

Continue reading Stocks in the news (abc, age, aot, banpu, bbl, ck, gift, kbank, kce, pap, ptg, sena, sgp, super, vng, thana, tpbi, tvo) 24.06.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (aot, bbl, bh, big, ck, gunkul, ifec, jwd, jubile, pttep, spali, sprc, super, tfg, thcom) 29.04.16

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AOT
AOT has revised up its five-year investment plan from Bt140bn to Bt170bn. It expects nonaeronautical revenue to comprise 50% within three years. (Thun Hoon, 29/04/16)
BBL
NBTC seeks more info from BBL on Jas’s failure to pay licence upfront fee – THE NATIONAL Broadcasting and Telecommunications Commission will ask for more information from BBL regarding Jas Mobile Broadband’s failure to pay the initial upfront fee for its 900MHz license by the March 21 deadline. (The Nation, 29/04/16)
Comment: As if BBL really has to say anything…the NBTC is just trying to cover their ar$es for cocking up the auction
 
BH
BH targets 2016 revenue growth of 8-10% from last year’s Bt17.9bn. It expects growth rate to be lower than 12% for 2011-2015 because of the economic slowdown. (Post Today, 29/04/16)
Comment: One interesting tidbit that I learnt was that the medical inflation in Thailand is one of the highest globally @ ~15% p.a.
 
BIG
BIG will pay a dividend of Bt0.06/share, paid on May 23. It expects 2016 revenue and net profit to be good. It plans to focus on the high-end market. It targets market share of 65% this year and 70% in 2017. (Thun Hoon, 29/04/16)
Comment: Boom! 
 
CK
CK targets 2016 backlog to hit Bt200bn from Bt83bn. It says this will cover revenue for 3-4 years. It plans to take part in Bt480bn in bids, and get 20-25% to add to backlog. It will sign a contract with a Bt21.2bn project. It targets 2016 revenue of 38-40bn. (Thun Hoon, 29/04/16)
Comment: Slight delays in this government infrastructure spending isn’t exactly a negative for the larger contractors like CK, it gives them time and the capacity to bid for more and more projects that they may have not otherwise received if everything was released at one go..

Continue reading Stocks in the news (aot, bbl, bh, big, ck, gunkul, ifec, jwd, jubile, pttep, spali, sprc, super, tfg, thcom) 29.04.16 →

Commentary, Research, Stocks, Updates

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

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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 →

Commentary, Research, Stocks, Updates

Stocks in the news (ajd, banpu, bbl, ckp, drt, gfpt, mill, qtc, samart, sat, scc, sci, sena, tkn, true, ureka, vpo) 20.04.16

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AJD
AJD targets top-up machines of 50,000 at the end of this year after yesterday reaching 10,000 machines. It plans to offer more services via its top-up machines in 2H16, such as ordering merchandise from the 7-Eleven catalog, insurance payments, etc. (Khao Hoon, 20/14/16)
Comment: We still have our doubts on their ability to execute, after all the incumbent FSMART is still continuing to dominate the country
 
BANPU
BANPU plans to take a step into upstream unconventional gas by acquiring 29.4% stake in the low-cost Chaffee Corners Joint Exploration Agreement (JEA) operation in the northeast section of the Marcellus Shale in Pennsylvania in US for US$112mn. (SET, Khao Hoon, 20/14/16)
BBL
BBL reported 1Q16 net profit of Bt8.31bn from Bt9.40bn in 1Q15, affected by higher provisions. This brought EPS to Bt4.36/share from Bt4.93/share in 1Q15. (Khao Hoon, 20/14/16)
Comment: I do wonder how many more times we shall hear, “it’s ok to have rising NPLs because we have provisioned for them already”
CKP
CKP targets capacity of 5,000MW in 2025 from 2,160MW now. It plans to focus on expanding in Thailand, Laos, and Myanmar. Its board approved issuing a Bt10bn debenture, with subscription expected in 2H16. (Khao Hoon, 20/14/16)

Continue reading Stocks in the news (ajd, banpu, bbl, ckp, drt, gfpt, mill, qtc, samart, sat, scc, sci, sena, tkn, true, ureka, vpo) 20.04.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (advanc, bbl, beauty, bem, bsm, css, ea, mc, ori, ptt, smpc, sricha, svi, tacc, true, uv) 29.02.16

3 Comments

ADVANC
ADVANC reports more than 500,000 of its 2G clients have upgraded to 3G. It aims at getting more than 10mn 4G users from 4.4mn now. It has budgeted of Bt40bn to expand its business in 2016. (Kao Hoon, 29/2/16)
Comment: The number we read this morning from the news was 5 mn users already.

BBL
BBL announces a full-year dividend of Bt6.50/share. (Thun Hoon, 29/2/16)

BEAUTY
BEAUTY reported net profit in 2015 of Bt402.5mn, up 33.65% supported by total revenue growth of 29.36% to Bt1.79mn from expanding its branches. It will pay a dividend in 2H16 of Bt0.83/share, XD on April 28. (Kao Hoon, 29/2/16)
Comment: And they keep growing!

BEM
BEM reported 2015 net profit of Bt2.65bn supported by higher toll and fare revenue. It had total revenue of Bt13.1bn with total assets of Bt78bn. It will pay a dividend of Bt0.07/share. (Thun Hoon, 29/2/16)
Comment: At what point will BEM do what BTS did and spin off the assets to an infrastructure REIT?

Continue reading Stocks in the news (advanc, bbl, beauty, bem, bsm, css, ea, mc, ori, ptt, smpc, sricha, svi, tacc, true, uv) 29.02.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (age, bbl, bkd, csp, dcon, drt, htech, j, mc, spcg, synex, thai, tmt, top, true, ureka, wiik) 18.01.16

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AGE
AGE expects to become a holding company engaged in the property business. It expects a return of at least 15%. It plans to export coal to Vietnam, which will increase revenue by 5-10%. It expects 4Q15 earnings to be good. It plans to implement cost control to increase profit. (Thun Hoon, 18/01/16)
Comment: A holding company engaged in property? Wait a minute, they are a coal company! Well better to switch now before its too late i suppose.

BBL
BBL revises up GDP growth to 3.5-4% from 3-3.5% driven by stimulus measures. It targets loans growth of 3.5%. (Thun Hoon, 18/01/16)
Comment: Don’t banks traditionally grow at 2x GDP?

BKD
BKD got a Bt300mn project, decorating Lotte and Marriot hotels. It plans to take part in Bt2bn bids. It targets 2016 revenue and net profit growth of 20%. (Khao Hoon, 18/01/16)

CSP
CSP targets steel sales of 150,000 tons driven by economic recovery. It expects to show net profit in 1Q16 after focusing on valued added products. (Khao Hoon, 18/01/16)

Continue reading Stocks in the news (age, bbl, bkd, csp, dcon, drt, htech, j, mc, spcg, synex, thai, tmt, top, true, ureka, wiik) 18.01.16 →

Commentary, Research, Special Events, Stocks

Management Trades – Dec ’15

3 Comments

Notable Transactions

Buy(s) THB 6.3 bn

-KCE, BA, TTCL, RS, SAM, SPALI, MAJOR, WHA, SCC, IFEC, BBL, DCORP, BLAND, JMART, TU, SOLAR, TVO, NSI, CBG, SUPER, NMG

Sell(s) THB 15.0 bn

-BEC, KCE, SAWD, COL, UNIQ, MAX, AP, SAM, JSP, MAJOR, SRICHA, ITD, BA, TMC, AAV

160104 mgmt_trades

Note: Transactions shown are trades above THB 20 mn

Commentary, Research, Stocks, Updates

Stocks in the news (bbl, bjchi, csp, eforl, ilink, itd, ktc, live, mcs, nch, plat, pylon, rojna, smpc, svi, tae, tasco, tk, tpch, tpipl, tsr) 20.08.15

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BBL
BBL says its loans grew less than its target of 3% affected by economic slowdown. Credit card spending for the first seven months grew 13-14% from target of 10%. It added 200,000 new credit card members. (Thun Hoon, 20/08/15)
Comment: Strange to see BBL finally pushing into the consumer market with its credit cards, as if the Bangkok market was oversaturated enough as it is.

BJCHI
BJCHI expects 2H15 revenue to be better than 1H15 backed by transfers and Bt6bn in bids. (Khao Hoon, 20/08/15)

CSP
CSP targets 2015 revenue of Bt3.2bn. It plans to improve production efficiency. It is talking with a prospective partner to invest in the construction business. (Khao Hoon, 20/08/15)

EFORL
EFORL plans to list Wuttisak to obtain funds to repay its debt of Bt3.4bn. It expects 2015 revenue of Bt4.2bn after achieving Bt2.2bn in 1H15. 1H15 net profit reached Bt153mn (+54%). (Khao Hoon, 20/08/15)
Comment: Interesting but its still trading at a rather ridiculous valuation of THB 9 bn

ILINK
ILINK expects 2015 net profit of Bt300mn on the back of higher sales. It plans to bid for Bt5-6bn in projects which it hopes will raise backlog from Bt150mn. It plans to list a subsidiary on mai. (Thun Hoon, 20/08/15)
Comment: The positive news for ILINK comes from the supposed digital economy, it’s shift to the SET from the MAI and the listing of it’s subsidiary

Continue reading Stocks in the news (bbl, bjchi, csp, eforl, ilink, itd, ktc, live, mcs, nch, plat, pylon, rojna, smpc, svi, tae, tasco, tk, tpch, tpipl, tsr) 20.08.15 →

Commentary, Research, Stocks, Updates

Stocks in the news (aot, arrow, bbl, big, cbg, cpall, ea, gold, ilink, jsp, kcm, kiat, psl, sawad, syntec, tcap, thai, thcom, tog, tmt, true, tse, ttw, wha) 13.08.15

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AOT
AOT says there is no impact from the Chinese yuan depreciation. Growth in Chinese tourist was 10-14% for eight months. (Post Today, 13/08/15)
Comment: For once, I concur with this government enterprise.

ARROW
ARROW reported 2Q15 earnings of Bt56mn (+92%YoY). It plans to pay an interim dividend of Bt0.15/share, XD on Aug 21. It targets 2015 revenue growth of 20%. (Khao Hoon, 13/08/15)
Comment: And somehow this little company continues to rack up decent earnings growth inspite of the overall economic situation.

BBL
BBL sees Chinese corporations becoming some of its major Vietnam customers after seeing greater direct investment activities by them. It targets 2015 Vietnam loan growth of 14% after it achieving 7-8% in 1H15. (Thun Hoon, 13/08/15)
Comment: Perhaps more of a regional play at the moment, without a doubt the Chinese are the largest investors in Vietnam

BIG
BIG reported 2Q15 earnings of Bt70.8mn. It expects revenue and net profit to grow steadily. It plans to launch a marketing campaign to boost sales. It is confident 2015 revenue will achieve its target growth of 10%. (Khao Hoon, 13/08/15)
Comment: Well its a camera retail co, just depends upon how large you believe the market is for them

Continue reading Stocks in the news (aot, arrow, bbl, big, cbg, cpall, ea, gold, ilink, jsp, kcm, kiat, psl, sawad, syntec, tcap, thai, thcom, tog, tmt, true, tse, ttw, wha) 13.08.15 →