BCH expects double digit growth in this year. It plans to expand its customer base, focusing especially on SSO and foreign clients. It expects 2016 net profit to be good as WMC breaks even in 2H16. (Thun Hoon, 03/02/16)
Comment: I think I’ve been reading about this WMC breaking even for the past….4-5 years now?
ESSO plans to invest in high return businesses to wipe out retained losses of Bt8.35bn. It targets oil retail sales to grow 9% because of high demand as oil prices fall. It plans to launch Diesel Plus and gasohol E20 in order to raise margin. (Thun Hoon, 03/02/16)
Comment: If you look at what just happened to Shell Malaysia, it makes one a bit worried about touching any oil related names @ the moment (Shell HQ sold their 51% stake in the m’asia listed co @ a 65% discount to mkt price..)
GC is talking to a prospective local partner to launch new products. It expects a decision to be made soon. It targets 2016 revenue growth of 5%, supported by large numbers of orders and a weaker baht. (Thun Hoon, 03/02/16)
JASIF will pay 4Q15 dividend of Bt0.22/share, PD on March 2. This brings 2015 dividend to Bt0.74/share or 8.31% dividend yield. (Khao Hoon, 03/02/16)
Comment: JAS is looking forward to receiving some $
Plans to expand into Cambodia, Laos and Myanmar. The firm has bid for a new project worth more than Bt1bn and expects to do a JV deal in 2Q15. It targets 2Q15 earnings growth of 10% YoY on the transfer of projects and raise in backlog to Bt2.3bn. (Thun Hoon 06/05/15)
1Q15 net profit surged from last year backed by significant growth in exports of “Carabao Daeng”, lower cost of goods sold, with zero interest-bearing debt. It expects to raise earnings gradually. (ASTV 06/05/15)
Comment: We do love the company but have doubts in their ability to add additional products to its existing line
2015 earnings to be good on booking extra gain from selling XPCL of over Bt1bn while revenue is close to last year’s. 1Q15 earnings surged with revenue of Bt7-8bn. It expects to win more than Bt100bn in government projects. The firm expects to win 20-25% of total projects, which will lift its backlog from the Bt100bn. (Thun Hoon 06/05/15)
Plans to invest in crawler crane. It targets 20% revenue growth in 2015 from last year’s Bt1.24bn. It says government policy is encouraging more construction projects. It plans to list a subsidiary soon. (Thun Hoon 06/05/15)
Comment: Crane’s business model is straight fwd, 1) Buy cranes, lease them, get a payback period of 4-5 years, 2) Distribute Cranes
First a slap in the face:
After trying their damnest to keep their stock price up during the past 6 months with its share repurchase program, they have just announced they will sell some 142 mn shares into the market
Tries to kiss & make up
Ah but this was followed by an announcement to give free warrants to shareholders at a ratio of 2.04 shares to 1 unit of warrant (JAS-W3)
Followed by another slap in the face:
But the exercise price is THB 4.30/share in five years (wait so ….. they think their stock price should be around 8.7 in 5 years from ~7 today?)
Then they finished it all with a WTH
They will join the 4G license auction this year, expected investment is THB 30-40bn which JAS plans to finance this new expansion with its remaining THB 11 bn of cash from JASIF, a whole bunch of debt, and potential cash from the warrant exercise. (And they only have an equity base of THB 12 bn)
No wonder the stock cratered some 7% today
Joining with THCOM to provide service to drilling rigs — ADVANC is joining with THCOM to be the first operator to expand a mobile network to drilling rigs in the Gulf of Thailand, using satellite technology. (Khao Hoon, 16/2/15)
AP condo wins case. AP set to continue construction and sales activities for its Aspire Ngamwongwan condominium project after a court ruled in favor of the project’s environmental impact assessment (EIA) and construction permit. The Central Administrative Court also ordered the Bangkok Metropolitan Administration (BMA) to pay 35,503.42 baht in compensation plus 7.5% interest per year to each of seven plaintiffs living near the construction site. (Bangkok Post, 7/2/2015)
AP plans to open new projects worth Bt30bn to boost its backlog by more than Bt10bn in order to secure revenue until 2016. The company is confident its revenue will increase by 10% this year, reflecting a recovery in property market. (Thun Hoon, 16/2/15)
AOT reported an earnings recovery with a net profit of Bt3.9bn (+3.7%) for FY1Q15 (OctoberDecember, 2014), due to a pickup in the global economy and the end of political unrest to drive passengers by 13% to 25.9mn. (Khao Hoon, 16/2/15)
Comment: Passenger growth is driven mainly by domestic travelers, the #’s for international travelers have yet to recover. The main driver of the stock price in the past 12 months have been news of a potential infrastructure fund.
APCS admits to loss for 2014. It expects recovery in 2015, but is uncertain whether it will return to profit in 2015. The company disclosed that orders from automobile sector have started picking up. Meanwhile, the company denied the rumors that it is a takeover target and has not been in talks with any party. (Khao Hoon, 16/2/15)
BBL targets doubling growth for its business in China from 10% growth last year, focusing on domestic consumption. The bank targets to increase its Chinese client base to 40% in the next three years, ready to support China’s investment expansion abroad, with Thailand as a main target. The bank is seeing a migration of Chinese investment from Vietnam to Thailand due to better logistics. (Krungthep Turakij, 16/2/15)
Comment: If you listen carefully to the CEO, he doesn’t seem to want to expand strongly in Thailand anymore, their focus does appear to be purely overseas business.
CHO confident revenue this year will grow no less than 50% due to strong flow in orders. It said that it plans to expand aggressively in overseas markets further through its catering hi-loaders truck business for airlines in markets abroad. The management confirms the exercise date for CHO-W1 is Dec 30, 2014. (Thun Hoon, 04/12/14)
Comment: Should the price of CHO ever decrease then I would consider it attractive based upon its growth – but a lot more homework needs to be done here.
CSS discussing investing in a 14MW power plant in Japan worth Bt1.4bn. A conclusion is expected next year. The company says that 4Q14 earnings will be strong, pushing revenue this year to Bt4bn. It targets revenue growth of 20-25% next year.(Kao Hoon, 04/12/14)
Comment: its quite interesting that how Thai companies are competing for power projects in Japan, a weakening yen versus the Thai Baht does help as well.
DRT targets earnings growth of 10% next yearwith revenue of Bt4.4bn, supported by the more contractor activities. The company plans to fine tune its business strategy after it has received more state projects, plus its plans to sell solar rooftop panels. (Thun Hoon, 04/12/14)
Comment : DRT has underperformed over the past 18 months, a full reflection of how their earnings have performed as well given the slowdown upcountry, with their additional capacity now installed, I am under the impression that they won’t be able to ramp up to full capacity for a number of years.