Partnership may decide if AIS joins 4G auction — The uncertain status of a partnership agreement between TOT Plc and Advanced Info Service (AIS) may put the latter under increasing pressure to join the renewed auction for the 900-megahertz spectrum. (Bangkok Post, 28/3/16)
ARROW expects 1Q16 earnings to be good on the back of recovering in construction and its active strategy. It expects 2Q16 earnings to be better than last year after its backlog reach a record high. (Thun Hoon, 28/03/16)
Comment: And they continue to grow and grow and grow
BEAUTY expects 2016 earnings to mark a record high. It targets revenue of Bt2.1bn (20% growth). It plans to expand its business by supplying its products via 7-eleven and opening new branches at home and abroad. It plans to hold a roadshow at Japan in mid-2016. (Khao Hoon, 28/03/16)
Comment: With growth slowing (but still great nonetheless) will investors decide this company isn’t worth its 30x PE anymore?
CWT expects 2016 revenue to achieve Bt2bn (20% growth) aided by Bt1.5bn backlog, revenue from teak exports of Bt400mn and automotive leather orders from abroad. It is budgeting Bt800mn to invest in power plants. (ASTV, 28/03/16)
Kingsmen CMTI designed for success
Kingsmen CMTI Plc (K) is a retail and corporate interior design company that listed on the Market for Alternative Investment in December 2015. Chief executive Chayawat Pisessith discusses the company’s strategy and outlook.
Please explain K’s history and business
The company was founded in 1989 and originally called CMTI (Creative, Modular, Technical, International), focusing primarily on interior construction work for exhibitions. In 2002, Kingsmen Group became a partner and our company was renamed Kingsmen CMTI. With our new partner we pivoted our business model toward more retail interior construction and today interior work represents more than half of our business. We are recognised as one of the top interior design and construction companies for both retail space and exhibitions.
Who are your target customers?
On the retail side, our customers are typically international brands that are coming to Thailand and need a store presence, or those that are already here and planning to expand further throughout the country and the region. The majority of our work in this area is for high-end and rapidly expanding mid-market fashion retail customers such as Louis Vuitton, Ralph Lauren, Proenza Schouler, Balenciaga, Emilio Pucci, Givenchy, Roger Vivier, Uniqlo, Cath Kidston and so on.
Our ability to deliver a high standard of quality that meets global brand expectations means that our interior design and construction business grows every two to four years, with 50-70% of our business from existing key accounts plus 30-50% new clients. Not only do we have a strong relationship with brands, we also have gained the trust of shopping centre owners in our professionalism and they use us in various locations all over the country.
For exhibitions, we have been doing the Motor Show, Money Expo and many other exhibitions since they first began and we expect to continue doing so. Finally, we have been expanding to offices and hospitality, specifically more complex projects in hotels such as lobbies.
ANAN targets 2016 revenue to reach Bt11bn backed by Bt37.2bn backlog. It plans to launch 12 projects, valued at Bt22bn. (Thun Hoon, 26/02/16)
Comment: Seems to be rather conservative estimates coming out from the management team given their backlog, lets see how things unfold during the year
BANPU expects net profit to return to the black this year aided by US$70mn extra gain on Hongsa power plant and its coal capacity of 46.1mt/year. It plans to acquire a coal mine in Indonesia. It plans to issue a Bt10bn debenture. (Khao Hoon, 26/02/16)
Comment: Well and there’s a supposed listing of BANPU power..
BCP is budgeting Bt20bn for add 60 gas stations. It plans to list a subsidiary in 4Q16. (Thun Hoon, 26/02/16)
BJCHI reported its highest net profit at Bt1.32bn in 2015 supported by continuous construction of FPSO’s P75&77 projects. It targets 2016 revenue to grow not less than 15% thanks to Bt3.7bn backlog. It expects to be awarded new projects in April. (Thun Hoon, 26/02/16)
Comment: Impressive results given the huge drop in oil prices
ANAN expects Bt1.8bn cash from transfer of Ideo Mobi Wongsawang Interchange in 3Q16. It expects this to lift 2016 revenue to its target of Bt15bn. (Thun Hoon, 02/02/16)
Comment: Well that’s only a 50% increase in revenue this year..
BCP has budgeted Bt2.92bn to acquire a 198MW Japan solar power plant. It expects to list its subsidiary by 2016 after its capacity has achieved 410MW. (Thun Hoon, 02/02/16)
Comment: It’s interesting to see that they are acquiring SunEdison Japan…hopefully it won’t be a mess like its recent oil acquisition (pre price drop..)
CI plans to set up a Bt1.4bn REIT. It targets 2016 revenue to grow 15% from last year. (Thun Hoon, 02/02/16)
Comment: Hence why they’ve been engaging in share buybacks
CPF expects 4Q15 net profit of Bt1.66bn (+106%) aided by Bt1.06bn extra gain from selling CPALL shares, bringing 2015 earnings to Bt11.17bn (5% growth). It expects to pay a dividend of Bt0.45/share. (Khao Hoon, 02/02/16)
Comment: Ohhhh again trading CPALL’s shares has given them a profit!
ACC plans to take over a 5.5MW solar farm, valued at Bt320mn. It expects this to contribute Bt33mn net profit/year. It plans to issue warrants at a ratio of 4 shares per warrant. Management says it plans to focus on alternative energy business. (Thun Hoon, 12/01/16)
Comment: Thats a fairly decent valuation given that IFEC just spent a (granted at the stupidest highest price any one has ever seen) 155 mn on 1 MW
CPF plans to focus on box lunches via CP Food World. It plans to open new branches, targets to become a food service provider. It plans to open five food courts and six catering facilities this year. (Khao Hoon, 12/01/16)
CWT got Bt300mn job and expects to sign the contract soon. This job increases its backlog to Bt1.5bn which covers revenue until 4Q16. It expects revenue growth of 25% this year aided by numerous orders and the baht weakening. (Thun Hoon, 12/01/16)
DCON is budgeting Bt300-400mn to buy land. It plans to increase sales at DCON prime project. It targets 2016 revenue of Bt1.2bn by expanding its customer base. It expects its orders to increase backed by public projects. (Thun Hoon, 12/01/16)
Comment: The stock price has returned to where it should be, perhaps when the next condominium project is launched shall we see another xmas tree shape in the stock price