Tag Archives: bkd

Stocks in the news (amata, banpu, big, bkd, dcon, ekh, kiat, modern, ncl, pace, pf, pimo, rjh, sena, spcg, tcmc, tmill, vibha) 02.09.16

AMATA
AMATA expects 2016 land sales to hit target of 1,000 rai. It has land of 1,000 rai to support investment. It is confident that total revenue will grow no less than 5% supported by its backlog of more than Bt1.3bn. (Thun Hoon, 02/09/16)
BANPU
BANPU plans to COD 118MW this year, with full year capacity of more than 2000MW. Recently, it worked with twelve universities to install solar roofs. It expects 2016 revenue to reach target of Bt120bn backed by coal price recovery. (Thun Hoon, 02/09/16)
BIG
BIG expects 2H16 profit of more than Bt560mn, increasing 200% YoY, supported by introduction of a new mirrorless camera and a Big Pro Days event to raise sales. (Kao Hoon, 02/09/16)
Comment: Looking forward for next year, if they can’t expand their network then growth numbers may drop to single digits
 
BKD
BKD plans to book extra item of Bt400mn from sale of land in 2Q17 after the board approved the sale of 19 rai at Krungthepkritha for Bt487mn. If the company does not reinvest the money, it will use it to pay a dividend. (Kao Hoon, 02/09/16)
Comment: Well if they pay out the entire proceeds from the land sale then it would be more than a 10% special dividend
 
DCON
DCON expects 4Q16 to be peak supported by more orders and booking revenue from the sale of land. It is confident that 2016 revenue will be better than last year. It expects 2016 revenue of no less than Bt1.1bn. It plans to expand production lines and list a subsidiary in 2018. (Thun Hoon, 02/09/16)
EKH
EKH expects 2016 revenue and profit to be a new high. It expects revenue growth of 15% backed by more patients and expects 2H16 earnings to grow more than 1H16 due to high season. It expects 3Q16 earnings to be a new high. It plans to build a new pediatric center next year. (Kao Hoon, 02/09/16)

Continue reading Stocks in the news (amata, banpu, big, bkd, dcon, ekh, kiat, modern, ncl, pace, pf, pimo, rjh, sena, spcg, tcmc, tmill, vibha) 02.09.16

Stocks in the news (beauty, bkd, chewa, cho, cpall, focus, glow, pstc, ptg, rjh, sgp, siri, tgpro, thai, tluxe, tm, yuasa) 01.09.16

BEAUTY
BEAUTY expects 2016 revenue and profit to be a new high due to revenue growth of more than 45% in 2H16. It is negotiating with a partner to set up distributorship in Hong Kong and Taiwan; it expects the deal to be concluded in 4Q16. It expects revenue growth of no less than 20% for the next three years. (Kao Hoon, 01/09/16)
Comment: I have sat down with management and I suspect they just got lucky with the international business. Regardless its still growing and growing and growing
 
BKD
BKD will ask its board for approval to sell land for Bt500mn. It plans to take part in Bt1.5bn in bids. It expects 2016 revenue to grow not less than 20%. (Thun Hoon, 01/09/16)
CHEWA
CHEWA is confident that 2016 revenue will grow 20% from last year supported by backlog of more than Bt300mn waiting to be booked and transfers of more than Bt1.3bn. It plans to launch two projects in 2H16 valued at Bt1.94bn. (Kao Hoon, 01/09/16)
CHO
CHO expects 2016 revenue growth of more than 10% backed by backlog of Bt586mn, with Bt310mn of this booked as revenue this year. It has a new job worth Bt300mn and expects to sign the contract and book revenue this year. It has budgeted Bt800mn to expand by eight fullservice maintenance centers. (Kao Hoon, 01/09/16)
CPALL
CPALL expects SSS growth to reach 3-5% brought by 7-Eleven stamp campaign and higher purchasing power from better farm income. It targets 12,000 branches within three years, with plans to open 420 stores this year. It expects a better margin from high margin products. (Thun Hoon, 01/09/16)
Comment: And just wait for the MAKRO turnaround + debt reduction 
 
FOCUS
FOCUS is talking to a prospective partner in France to take over a waste management business and expects to invest in the power business. It expects 2016 earnings to be good and for revenue to be higher than last year. It expects to take part in Bt800mn bids, of which it expects to get 50%. (Thun Hoon, 01/ 09/16)

Continue reading Stocks in the news (beauty, bkd, chewa, cho, cpall, focus, glow, pstc, ptg, rjh, sgp, siri, tgpro, thai, tluxe, tm, yuasa) 01.09.16

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 (aot, bkd, cpn, cwt, dtac, erw, gfpt, irpc, ktc, pap, ps, salee, sat, sccc, thai) 26.07.16

AOT
AOT expects 3QFY16 net profit to hit Bt4.9bn, up 21%, giving 9MFY16 net profit of Bt15bn, up 17%. This came from higher passenger pass-through of 90mn passenger in the first nine months (+12%). (Khao Hoon, 26/07/16)
Comment: Altogether now, 1, 2, 3, amazing thailanddddd.
BKD
BKD expects to get jobs worth Bt300bn in 2H16 which will increase its backlog to 1.8bn. It expects 2H16 net profit to be good because of seasonality. It expects to recognize Bt400mn revenue in 2H16. (Thun Hoon, 26/07/16)
CPN
CPN yesterday announced the launch of its first mixed-use property project in Nakhon Ratchasima at the cost of Bt10bn. (The Nation, 26/07/16)
CWT
CWT expects 2H16 earnings to be good driven by automotive and exports. It expects 2016 revenue to pick up from Bt1.38bn to Bt1.5bn aided by numerous orders. It plans to take part in upcoming PPA bidding. It expects to complete a power plant deal in the north by 4Q16. (Thun Hoon, 26/07/16)
DTAC
DTAC chief marketing officer Sitthichoke Nopchinabutr aims to make the company the No 1 digital brand in Thailand by 2020 through revitalising its brand image, providing digital services that meet the needs of all market segments, and enhancing relationships and partnerships with local and global partners. (The Nation, 26/07/16)
Comment: Well it isn’t happening in the numbers

Continue reading Stocks in the news (aot, bkd, cpn, cwt, dtac, erw, gfpt, irpc, ktc, pap, ps, salee, sat, sccc, thai) 26.07.16

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

Management Trades 10/07 – 15/07

Notable Transactions

Buy(s) THB 86.6 mn

  • CK – And the owner is back to buying shares
  • BLAND – K. Anant has never sold any shares for as long as I can remember
  • BDMS – A director buys more shares

Sell(s) THB 1.1 bn

  • BKD – The MD sells some 10% of total listed shares, to whom?
  • IHL – The CEO sells off ~4% of total listed shares, again to whom?
  • VNG – The family sells off shares, to our understanding these are block sales to investors

mgmt_trades

Stocks in the news (aot, bjc, bkd, ivl, lph, lpn, maco, mcs, nwr, pca, ps, rs, tf, vgi) 04.07.16

AOT
AOT is confident that FY2016 profit will be a new high. It reports 1H16 profit of Bt10.1bn supported by tourism recovery. It targets 2016 passengers of more than 12.5%. It will increase its investment budget to Bt194bn to develop six airports and increase non-aeronautical ratio to 50%. (Thun Hoon, 04/07/16)
BJC
BJC announces a second rights offering of not over 807,779,000 shares. It will indicate the number of shares that will be issued for a PP on July 8, 2016. (Kao Hoon, 04/07/16)
BKD
BKD expects 2016 net profit growth of 245.8% after booking an extra item of Bt410mn from the sale of 20 rai. It expects average revenue growth of 38.5% per year. It expects 2016 revenue to exceed Bt1.45bn. (Thun Hoon, 04/07/16)
IVL
IVL confirms that Brexit will not affect its business. It expects 2Q16 to show continued growth, supported by more orders and booking profit from acquiring a business. (Kao Hoon, 04/07/16)
Comment: One of the few commodity related names to not yet have rebounded post “brexit”

Continue reading Stocks in the news (aot, bjc, bkd, ivl, lph, lpn, maco, mcs, nwr, pca, ps, rs, tf, vgi) 04.07.16

Stocks in the news (big, bjc, bkd, ci, epg, hana, ndr, prin, richy, rp, samart, tks, tmill, tpch, trc, tsr, tvd) 27.05.16

BIG
BIG expects 2Q16 earnings to be good with high margin of 32.4% backed by the mirrorless camera. It plans to open shops to provide photo printing in June, which will boost its net profit. (Thun Hoon, 27/05/16)
Comment: Their YoY growth numbers do look fantastic, the question then becomes, is it sustainable? What product can they push next to continue this growth or is there a natural limitation before the market becomes saturated.
 
BJC
BJC plans to increase its registered capital and issue debentures to refinance loans and repay bank creditors after acquiring BIGC .  (The Nation, 27/05/16)
Comment: Boom massive recap, more info to come
 
BKD
BKD plans to sell 20 rai of Krungthep Kreetha land. A listed company offered Bt600mn but it is holding out for a price of above Bt700mn as a road is coming that will provide access. (Khao Hoon, 27/05/16)
CI
CI expects 1H16 earnings to be good thanks to property stimulus measures. It expects 2016 revenue of Bt3.15bn backed by transfers and Bt3.4bn in new projects. It expects this to increase its backlog from Bt3bn, covering revenue through 2018. (Thun Hoon, 27/05/16)
EPG
EPG expects to report FY2016 earnings today. It expects net profit to be higher than Bt1.5bn, 140% growth, backed by large orders for every business. (Khao Hoon, 27/05/16)

Continue reading Stocks in the news (big, bjc, bkd, ci, epg, hana, ndr, prin, richy, rp, samart, tks, tmill, tpch, trc, tsr, tvd) 27.05.16

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 (advanc, bjchi, bkd, bm, cho, eason, epg, fsmart, gfpt, ihl, jsp, mtls, nwr, pace, ptg, pttgc, richy, samco, solar, tk, trt, tsth) 23.05.16

ADVANC
ADVANC and TOT set to launch service under a joint trial – ADVANCED Info Service and TOT are expected to sign a contact signalling the launch of a joint-trial commercial service on the state agency’s 2.1 gigahertz spectrum shortly after the reauction of a 900 megahertz licence on Friday, Information and Communications Technology Minister Uttama Savanayana has said. (The Nation, 23/5/ 16)
Comment: There’s still another 4 more days to go before the auction, I do wonder what else could happen?
 
BJCHI
BJCHI expects 2Q16 earnings to be good aided by mega projects. It expects 2016 revenue to grow 15% thanks to numerous orders and bidding for new projects. It expects to get new projects that will increase its backlog from Bt1.7bn. (Thun Hoon, 23 /05/16)
Comment: Thus even with the volatile movements in oil prices BJCHI is still able to maintain their backlog. How?
 
BKD
BKD plans to ask board approval to invest in a new business on May 24. It expects 3Q16 earnings to mark a record high aided by government projects. Its backlog is Bt1.5bn, of which 70% is expected to be booked this year. It expects 2016 revenue to increase not less than 20%. (Thun Hoon, 23/05/16)
BM
BM reported substantial 1Q16 earnings growth aided by higher revenue from sales and lower cost with net margin of 7.05%. Core revenue came from metal trunking and electrical conduits. (Thun Hoon, 23/05/16)

Continue reading Stocks in the news (advanc, bjchi, bkd, bm, cho, eason, epg, fsmart, gfpt, ihl, jsp, mtls, nwr, pace, ptg, pttgc, richy, samco, solar, tk, trt, tsth) 23.05.16