Tag Archives: grand

Stocks in the news (centel, grand, hmpro, ktb, maco, oishi, pace, pylon, tluxe, tmi, uniq) 07.07.16

CENTEL
CENTEL plans to take over Thai Foods brand. It targets 2016 revenue to grow at 10%, driven by healthy tourism. (Thun Hoon, 7/7/16)
GRAND
GRAND plans to take over a prestigious hotel in Thailand. It expects to see healthy 2Q16 earnings, driven by booking from Hyde Sukhumvit 11 and hotel businesses. (Thun Hoon, 7/7/16)
Comment: Still have our doubts on their ability to execute…
 
HMPRO
HMPRO expects to see outstanding 2Q16 earnings from Mega Home. It targets 2016 revenue to grow 10-15% from expanding portfolios and a slight change in business model. (Thun Hoon, 7/7/16)
KTB
KTB targets 2016 loans to grow 3-4% from SME and governmental lending. It expects 2Q16 NPL to deceleratedly increase. (Thun Hoon, 7/7/16)
MACO
MACO plans to be number one in the country in 2-3 years with market share more than 40%. It is expanding the business, negotiating for M&A. Its 2Q16 performance is expected to be healthy from advertising signs covering 77 provinces. (Thun Hoon, 7/7/16)
Comment: I’m fairly certain that they are already the largest in what is a very fragmented industry

Continue reading Stocks in the news (centel, grand, hmpro, ktb, maco, oishi, pace, pylon, tluxe, tmi, uniq) 07.07.16

Stocks in the news (abc, acc, advanc, ajd, anan, ci, delta, global, grand, moong, nwr, ori, thai) 17.06.16

ABC
ABC plans to launch ABOVE Sukhumvit 39 condo, valued at Bt2.5bn. It expects to open for presales in 3Q16, with prices starting at Bt150,000/sqm. It expects sales to reach 60-70% this year. (Thun Hoon, 17/06/16)
ACC
ACC acquired a 5.5MW solar farm in Saraburi, valued at Bt290mn. It expects this to boost its 2Q16 earnings and full year 2016. It says it plans to invest more in order to increase its revenue. (Thun Hoon, 17/06/16)
ADVANC
ADVANC has introduced the prepaid “Zeed SIM 4G YouTube” package to tap teenagers who are heavy data users and has targeted 1.5mn new users with this new package this year. (The Nation, 17/06/16)
Comment: 2Q #’s will be interesting for all players in the industry
 
AJD
AJD expects 2016 revenue to grow more than 15% from last year’s Bt1.76bn on the back of E-commerce and top-up machines. It expects 2Q16 net profit to be better than 1Q16 aided by a bigger customer base. It has signed a contract with KTB that will expand its business. It expects a logistics deal to be concluded in 3Q16. (Thun Hoon, 17/06/16)
Comment: I still don’t believe it yet.
 
ANAN
ANAN expects 2Q16 earnings to be good with sales of at least of Bt3.43bn. It expects revenue of Bt2bn. It expects 2016 revenue to reach target backed by Bt38bn transfers. It plans to launch new projects in 2H16. It is budgeting Bt8.7bn to acquire land. (Thun Hoon, 17/06/16)
Comment: Apparently construction time has now decreased to 12-14 months depending upon the size of a project

Continue reading Stocks in the news (abc, acc, advanc, ajd, anan, ci, delta, global, grand, moong, nwr, ori, thai) 17.06.16

Stocks in the news (bem, big, bigc, gcap, gfpt, grand, gunkul, irpc, ivl, jasif, mint, mtls, pace, ple, richy, rml, sawad, tpc, tsr) 11.05.16

BEM
BEM expects to open MRT Purple Line on Aug 6. It expects this to increase 2016 revenue growth to 15% as it will book Bt500mn/quarter as operating revenue. It expects 60,000 passengers/day. (Khao Hoon, 11/05/16)
BIG
BIG reported 1Q16 earnings of Bt234mn (221% growth) thanks to the boom in digital cameras. It expects revenue and net profit to mark a record high this year. It targets its market share to hit 65% at the end of 2016. (Khao Hoon, 11/05/16)
Comment: Blow out earnings, ignore the fact that its already trading near a market cap of THB 12 bn, retail, research, prop, everyone is loving this.
BIGC
Central Group sells BIGC – Central Group yesterday confirmed it had sold its remaining 25% stake in Big C Supercenter to TCC Group, a holding company owned by tycoon Charoen Sirivadhanabhakdi. (The Nation 11/05/16)
GCAP
GCAP is beginning to offer nano-finance. It expects this to support its performance in 2H16. It expects loans to grow 50% to Bt400mn. It targets nano-finance loans of Bt20mn this year. It targets 2016 revenue to increase 10-15%. It expects to control NPLs to be under 12%. (Thun Hoon, 11/05/16)
Comment: We aren’t quite confident in their ability to grow given that the target customer are farmers…
 
GFPT
GFPT reported 1Q16 net profit of Bt275mn, up 25.99% because of higher revenue and revenue from investment in associates (McKey and GFN). (Khao Hoon, 11/05/16)
Comment: Subs led the way, rev growth was meh, margins in line, where is this increase in chicken price?

Continue reading Stocks in the news (bem, big, bigc, gcap, gfpt, grand, gunkul, irpc, ivl, jasif, mint, mtls, pace, ple, richy, rml, sawad, tpc, tsr) 11.05.16

Management Trades 29/06 – 03/07

Notable Transactions

Buy(s) THB 71.6 mn

  • BA – And the owner still continues to buy back his shares in the market

Sell(s) THB 404 mn

  • ITD – And the exact opposite of BA, here K. Premchai continues to sell his shares!
  • ACD – The President and major shareholder sells over 10% the co, to who and why?
  • GRAND – Is the family thinking that this deal with PF isn’t wonderful?
  • ROCK – A director sells off some shares, must’ve been an off the market transaction

150706 mgmt_trades

Stocks in the news (abico, ajd, amc, ccet, cpn, epco, grand, gunkul, kiat, ksl, seafco, sgp, tasco, trc, tvt, u, vgi) 18.06.15

ABICO
ABICO expects 2Q15 profit to be good, benefitting from increasing in international customer base. It says 68% capacity is enough for handling the new orders. It does not have any investment plan. (Thun Hoon, 18/06/15)
Comment: An interesting holdco with a stake in MALEE, now the question is how do value a cow? (they own some ~300 cows)

AJD
AJD says foreign investors are interested in its shares due to strong fundamentals. Management is confident 2015 revenue will be surge (+50%) with 2mn set-top boxes sold. (Thun Hoon, 18/06/15)

AMC
AMC’s 1H15 performance is expected to be better than 1H14 losses of Bt17.54mn backed by higher orders from public and private mega projects. 2Q15 revenue is expected to be near 2Q14’s at Bt1.13bn, with net profit of Bt6.81mn. (Thun Hoon, 18/06/15)
Comment: Perhaps one of the cleaner steel companies in the market

CCET
CCET expects a stable growth in 2Q15 earnings aided by robust sales in April and May. 2015 revenue is expected to mark a record high compared to last year’s Bt150bn. It plans to expand abroad. (Thun Hoon, 18/06/15)
Comment: A well performing company in a rubbish industry, in the end this industry is dominated by scale, something which CCET has.

Continue reading Stocks in the news (abico, ajd, amc, ccet, cpn, epco, grand, gunkul, kiat, ksl, seafco, sgp, tasco, trc, tvt, u, vgi) 18.06.15

Stocks in the news (akr, amata, aot, bcp, beauty, brr, cpf, epco, fire, grand, hemraj, kcm, pcsgh, rml, siri, tpch, tpoly, tta, uniq) 21.01.15

AKR
Solar license soon — AKR’s management said that the state should decide on the licensing of the total 800MW of solar license sometime in February-March. It expects to receive license for 20-30MW, which should help profit. (Thun Hoon, 21/01/15)

AMATA
AMATA sees good 2015 ahead as it expects to book Bt4bn in revenue from its backlog. It is also in negotiations with Chinese and Japanese clients to sell more land. It plans to invest Bt3-4bn to develop land in industrial estates both at home and abroad. (Thun Hoon, 21/01/15)
Comment: Only two things to care about for AMATA this year, one the IPO of Amata Vietnam, two its REIT.

AOT
AOT to name new head today – The new president of the Airports of Thailand Plc (AOT) should be announced today, while the agency continues to go ahead with its plan to expand airports nationwide and launch promotions to deal with the rebound in the travel industry. (The Nation, 21/01/15)

BCP
Employees trying to halt PTT sale of shares — BCP employees have drafted a letter to the PM in hopes of halting the sale of BCP shares held by PTT. The employees say they do not want BCP shares to fall in the hands of other investors and confirm that they have no plan to buy more BCP shares themselves with their own money or via loans, which the board had proposed earlier. (Krungthep Turakij, 21/01/15)
Comment: If management was incredibly confident in the future of BCP, an MBO should be an option but I suppose their recent purchase of an oil co pre oil price crash doesn’t instill much confidence in the banks.

Continue reading Stocks in the news (akr, amata, aot, bcp, beauty, brr, cpf, epco, fire, grand, hemraj, kcm, pcsgh, rml, siri, tpch, tpoly, tta, uniq) 21.01.15

Stocks in the news (cbg, esso, grand, itd, jas, isp, pae, pdg, ps, siri, spvi, takuni) 10.11.14

CBG
CBG sets IPO price range of Bt26-28/share and subscription period during 12-14 November. The company will list on the SET on 21 November and expects to use the funds from the IPO to repay debt and expand, focusing on CLMV markets. (Kao Hoon, 10/11/14)

ESSO
ESSO plans to invest Bt2.2bn to increase refinery and petrol station efficiency. The company expects to take second place in terms of market share in the retail market. It confirms that it has no plan to divest its refinery. (Kao Hoon, 10/11/14)
Comment: The sleepy ESSO has finally woken up!

GRAND
GRAND reported 3Q14 net profit of Bt45.4mn from net loss of Bt68.3mn in 3Q13 as it booked revenue from Hyde Sukhumvit. The company is studying to form a partnership with domestic and overseas hotels after board approval. (Thun Hoon, 10/11/14)
Comment: The Hyde Sukhumvit is all that GRAND has going for it at the moment, most of their other major assets are leaseholds which only have a few years left.

Continue reading Stocks in the news (cbg, esso, grand, itd, jas, isp, pae, pdg, ps, siri, spvi, takuni) 10.11.14

Stocks in the news (apco, bec, eureka, grand, gunkul, intuch, ps, pttgc, sappe, sawad, spcg, takuni, thai, thcom, thai, thcom, tog, tta, wha) 14.08.14

APCO
APCO to do a PO of 28mn shares. The proceeds will be used to develop BIM Healthcare this year. It also plans to move to the SET early next year. It is confident that net profit this year will grow no less than 60%. (Kao Hoon, 14/08/14)
Comment: With such a performance i too would take advantage of my stock price raise and raise capital.
BEC
BEC risks losing share of Channel 3 analogue — After Sept 1, BEC World Plc, the operator of Channel 3, could risk losing its share of the analogue channel as it needs to follow the must-carry rule after the Central Administrative Court dismissed its request for exemption from the rule implementation. (Bangkok Post, 14/08/14)
EUREKA
EUREKA says backlog is over Bt100mn and expects to realize all of it this year. It is also in the process of bidding for new projects both at home and abroad worth more than Bt200mn. (Kao Hoon, 14/08/14)

Continue reading Stocks in the news (apco, bec, eureka, grand, gunkul, intuch, ps, pttgc, sappe, sawad, spcg, takuni, thai, thcom, thai, thcom, tog, tta, wha) 14.08.14

Stocks in the news (bts, ecf, grand, mlink, mpg, nyt, pylon, tcap, tpch, trc) 17.07.14

BTS
BTS reveals passenger traffic growth of 4-5% YoY in 1QFY15, below the estimate of 7% YoY, because the government has adjusted the Thai school semester to be in line with AEC. The company is waiting for bidding to open for the Green Line and expects the NCPO to support all train line projects. (Kao Hoon, 17/07/14)
Comment: BTS will continue to grow and grow and grow, line extensions are coming soon.
ECF
ECF reports 1H14 growth meets goals supported by the continual flow of orders. It expects performance in 2H14 to be better as it moves towards high season for the furniture business. It expects revenue growth of 15% this year. It expects to book Bt500mn of its backlog this year and expand its Elega showroom. It also plans to move ahead in negotiating with its new partner in Japan and expects orders to start flowing in September and revenue to be booked in 4Q14. (Kao Hoon, 17/07/14)
GRAND
GRAND is confident net profit growth in 2Q14 after it booked revenue of Bt2.3-2.5bn from the Hyde Sukhumvit project. It expects 1H14 net profit of Bt1bn and is considering paying an interim dividend for the first time. It plans to use Bt1bn to buy a hotel in Pattaya and set up two new projects. Its net profit growth is expected to grow sharply in 2015-16. (Thun Hoon, 17/07/14)
Comment: GRAND’s value is in the Hyde Sukhumvit and when that will be transferred across.

Continue reading Stocks in the news (bts, ecf, grand, mlink, mpg, nyt, pylon, tcap, tpch, trc) 17.07.14

Property Perfect M&A, here’s the full story

There have been a few corporate deals in the past 2 weeks, True, Property Perfect and WHA come to mind, today we’ll talk about Property Perfect, only because a friend/reader came up with a potentially wonderful gameplan for the company (should they pull it off) and lets go through the steps here.
Note: This is a long post, get a cup of coffee ready
Here is the information in a nutshell with a full description after the break.
What happened?
On the 16th June 2014, Property Perfect (“PF”) announced that it plans to acquire Thai Property Plc (TPROP).
Deal Structure:
PF intends to make a tender offer of TPROP using share swaps or cash payment
Implications:
If PF successfully acquires all of TPROP’s shares it will have a controlling stake in Grande Asset Hotels and Property Plc (GRAND) because TPROP currently owns 40.62% of GRAND and is the controlling shareholder. Now if PF acquires TPROP, they will have to make a tender offer for all the outstanding shares of GRAND.
Who the hell is TPROP?
  • TPROP owns 2 office buildings, namely One Pacific Place and Two Pacific Place where are both located near the BTS Nana station. Currently these 2 buildings generate about THB 245 mn with a GPM of 63.7% in 2013. The other major investment of TPROP is in GRAND.
  • GRAND has two property components on their portfolio, first up are the hotels; 3 of them, The Westin Grande Sukhumvit, Sheraton Hua Hin Resort & Spa and Sheraton Hua Hin Pranburi, it has a fourth hotel on the way which is currently under construction, the Hyatt Regency. On the residential side it has The Trendy Condominium, Hua Hin Blue Lagoon and Hyde Sukhumvit (which is worth about THB 5.0 bn, 454 units and 90% sold). 
When will the deal be done?
Its expected to be completed within the 4Q14 (Nov/Dec according to the company)
Ok now for the nitty gritty details of the above

Continue reading Property Perfect M&A, here’s the full story