Tag Archives: malee

Commentary, Research, Stocks, Updates

Stocks in the news (beauty, bjc, btw, ea, gpsc, itd, malee, ple, pttep, seafco, tfg, top, tpoly, vgi, work) 24.08.16

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BEAUTY
BEAUTY expects 2H16 high season to support its sales. It is confident that 2016 revenue will grow more than 20%. It plans to expand its branches in Thailand and abroad. (Kao Hoon, 24/08/16)
Comment: The odd thing is that we are seeing management sell shares in the market 
 
BJC
BJC expands glass output capacity – BERLI JUCKER(BJC) is investing Bt2 billion in the construction of a new furnace with a production capacity of 300 tonnes of glass a day, in order to cater to rising demand for glass containers. (The Nation, 24/08/16)
Comment: Watch them dominate Thailand and Vietnam along with Central Group
 
BTW
BTW announced a dividend of Bt0.27/share, XD today and payment on Sep 9. It has backlog of Bt1.56bn and expects 2H16 earnings to be good. (Thun Hoon, 24/08/16)
EA
EA plans to COD a 126MW wind power plant at Nakhon Si Thammarat at the end of 2016. This will lift capacity to 404MW, doubled from 2015. It expects 2016 earnings to be a new high. It plans to do five more projects in Chaiyaphum worth Bt20bn to increase capacity to 64MW. (Thun Hoon, 24/08/16)
GPSC
GPSC expects 2016 revenue and profit to jump due to booking revenue from IRPC, Nava Nakorn power plant and more new customers. It announced a five-year plan to have capacity of 2,800MW and expects the board to approve its investment budget of Bt19bn. (Kao Hoon, 24/08/16)
ITD
ITD get a big project worth more than Bt1.28bn to bring backlog up to over Bt200bn. It expects earnings to turn to profit after it reported a net loss in 2Q16. (Thun Hoon, 24/08/16)
Comment: With the recent win @ AOT, will they have to raise capital again?
 
MALEE
Malee Group and Mega Lifesciences will set up a 49:51 joint venture called Mega Malee Company to develop health-related natural foods and beverages for both local and international markets. Initial investment is put at Bt10 million. (The Nation, 23/08/16)
Comment: That added a little pop to both their share prices that day

Continue reading Stocks in the news (beauty, bjc, btw, ea, gpsc, itd, malee, ple, pttep, seafco, tfg, top, tpoly, vgi, work) 24.08.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (ah, arrow, auct, bm, ctw, gel, intuch, k, malee, mc, pace, pf, plat, pttgc, rml, ttcl, tu, vte) 18.08.16

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AH
AH expects 2016 revenue to grow 5% from last year’s Bt15.1bn due to large orders. It will pay a dividend of Bt0.33/share, XD on Aug 26, PD on Sep 9. (Thun Hoon, 18/08/16)
Comment: And the company has been doing share buybacks for the past few months
 
ARROW
ARROW expects 2H16 earnings to be good backed by Bt240mn backlog. It expects 2016 revenue to reach Bt1.4mn with gross margin at 25-30%. Its 1H16 net profit was Bt126mn. It will pay a dividend of Bt0.2/share, XD Aug 23. (Khao Hoon, 18/08/16)
Comment: We’ve questioned whether they have the capacity necessary to fulfill all the potential market demand and their current valuations
 
AUCT
AUCT expects 3Q16 earnings to be good brought by extra items from public bids. It plans to take part in 1-2 bids, and expects to know the results this year. It expects auction 60,000 vehicles this year. (Thun Hoon, 18/08/16)
BM
BM reported 1H16 net profit of Bt23mn, up 68.32% with revenue of Bt384mn, up 5.55%, backed by higher sales, especially from selling racks and conduits. (Khao Hoon, 18/08/16)
CTW
CTW expects 3Q16 earnings to be good supported by cable projects from ITD such as Suvarnabhumi phase 2, MRT Orange, Pink and Yellow lines, the Dawei project, and moving cables underground. (Thun Hoon, 18/08/16)

Continue reading Stocks in the news (ah, arrow, auct, bm, ctw, gel, intuch, k, malee, mc, pace, pf, plat, pttgc, rml, ttcl, tu, vte) 18.08.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (gift, gl, gunkul, ilink, kce, ksl, malee, preb, pylon, sappe, sc, scc, tsr, tvt, uec) 13.07.16

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GIFT
GIFT is talking to a prospective partner to set up a subsidiary to operate in the power business with a 25% stake. It plans to expand to the utilities business with cash on hand of Bt230mn. It expects to list on the SET, with finalization in a month. It expects 2016 revenue to mark a record high with 10-15% growth. (Thun Hoon, 13/07/16)
Comment: This could explain yesterday’s stock price increase, no idea how a chemical distributor gets into this.
GL
GL got the license from OJK (Otoritas Jasa Keuangan) to provide financial services in Indonesia. It expects this to boost its sales and net profit. (Khao Hoon, 13/07/16)
Comment: We doubt that they’ll be as successful in Indonesia as they were in Cambodia, but this is still great nonetheless
 
GUNKUL
GUNKUL expects 2016 revenue to grow 30% from 2015’s Bt4.87bn. It does not worry about 2Q16 performance as it expects LED business to contribute revenue. It expects revenue to reach Bt300-400mn this year. It expects to take part in many alternative energy projects. (Thun Hoon, 13/07/16)
ILINK
ILINK expects to take part in four project bids, valued at Bt7bn. It expects the bid winners to be announced this year. It expects a Bt2.5bn MEA project to put up for bid on July 21. It expects to get all four projects. (Khao Hoon, 13/07/16)
Comment: And they still have the IPO of their subsidiary coming up

Continue reading Stocks in the news (gift, gl, gunkul, ilink, kce, ksl, malee, preb, pylon, sappe, sc, scc, tsr, tvt, uec) 13.07.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (bsm, bew, ci, cpf, drt, forth, gland, hpt, ifec, kool, malee, pttep, sf, stpi, super, tcj) 12.07.16

4 Comments
BSM
BSM expects 2H16 earnings to be good supported by high season. It expects to get Bt50mn in orders from Myanmar and Cambodia. It is confident that 2016 profit will be higher than last year and expects revenue of Bt700mn. It is negotiating with a partner to expand its business. (Thun Hoon, 12/07/16)
BEW
BEW has set up a subsidiary, Be Green Development Company Limited, to engage in the property business. It expects to support industrial estates in the renewable energy industry. (Khao Hoon, 12/07/16)
CI
CI doing a commercial project in Cha-am to support its revenue and expects it to conclude in 2017. It has a new Bt4.7bn project of to add to its backlog of Bt3bn. It expects 2016 sales to go over Bt3bn, supported by the tax stimulus. (Thun Hoon, 12/07/16)
Comment: In the past few years their strategy has evolved to provide a more consistent 
CPF
CPF expects 2Q16 net profit of Bt4.11bn or growth of 38%, supported by domestic business growth and booking Bt1.5bn in profit from the sale of CPALL shares. It expects to report earnings on Aug 11. (Khao Hoon, 12/07/16)
Comment: Love the trading gains in CPALL!

Continue reading Stocks in the news (bsm, bew, ci, cpf, drt, forth, gland, hpt, ifec, kool, malee, pttep, sf, stpi, super, tcj) 12.07.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (aot, ap, bsm, centel, cho, fsmart, lh, malee, pk, qtc, sci, spa, tk, tmb, ttcl) 06.06.16

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AOT
AOT plans to open bidding for the APM system at Suvarnabhumi valued at Bt3bn in midJune. It expects to finish the deal in October 2016. (Khao Hoon, 06/06/16)
Comment: AOT has been very quiet recently in terms of their expansion plans.
 
AP
AP got revenue of more than Bt8.55bn, up 20%, in five months. It plans to launch new projects and campaigns. It is confident sales will reach its target of Bt31bn in 2016. (Khao Hoon, 06/06/16)
Comment: Perhaps the last sector left to run in the Thai market.
 
BSM
BSM increase capital to RO and issue warrant (BSM-W2). It expects to funding of Bt150mn for develop property. It sets 2016 revenue target to over Bt1bn. (Khao Hoon, 06/06/16)
CENTEL
CENTEL expects 2Q16 earning to be good supported by tourism tax. It sets revenue target growth 10% from Bt19.2bn from 2015 due to tourism expansion. (Thun Hoon, 6/6/16)
CHO
CHO expects to turn around. It expects 2016 profit of Bt77mn, growth of 113% from 2015, supported by backlog of Bt645mn. It plans to book Bt400mn this year. (Khao Hoon, 06/06/16)
FSMART
FSMART is confident that 2Q16 earnings will grow as it expands the Boon Term top-up machines. At the end of April, it had 75,000 machines and expects to reach 90,000 this year. It is confident that revenue from Boon Term top-up machines will be over Bt28bn. (Khao Hoon, 06/06/16)
Comment: Still a growth machine. 
 
LH
LH expects 2016 transfers to hit Bt28bn as targeted after backlog reached Bt20bn. It plans to launch 14 projects valued at Bt23.5bn. It expects this to increase its presales to Bt28bn at the end of this year. (Khao Hoon, 06/06/16)
MALEE
MALEE expects 2016 revenue growth to be higher than target at 15% aided by the baht weakening and higher sales abroad. It plans to expand to CLMV and ASEAN. It expects its associated company in the Philippines to contribute doubled revenue. (Thun Hoon, 06/06/16)
Comment: The Philippines has done far better than what most people expected. It does raise the question why couldn’t ICHI and SAPPE do the same in their international expansions.

Continue reading Stocks in the news (aot, ap, bsm, centel, cho, fsmart, lh, malee, pk, qtc, sci, spa, tk, tmb, ttcl) 06.06.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (advanc, ajd, amatav, bcp, ccp, delta, ea, ecf, ktc, ktis, malee, wha) 19.05.16

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ADVANC
ADVANC will bid for 900MHz. It is ready to pay the guarantee of Bt3.78bn after getting backing from BBL and KBANK. The bidding will be on May 27 and first payment expected in June 2016. (Thun Hoon, 19/5/16)
Comment: Should be a non-event, my eyes are just turning towards 2Q #’s to see how competitive the fight for subscribers has been.
 
AJD
AJD reported 1Q16 net profit of Bt79.04mn, up 669.08% YoY, supported by more revenue from on-line top-up machines, set-top boxes and continued growth in its electricity ventures. It expects to sell 50,000 on-line top-up machines to support revenue growth 10-15% in 2016. (Thun Hoon, 19/5/16)
AKR
AKR expects 2Q16 earnings to be good supported by a corporate transformer job and bidding for EGAT transformers of more than Bt6bn. It is confident that revenue will grow 50% in 2016. (Thun Hoon, 19/5/16)
AMATAV
AMATAV sets 2016 revenue target of Bt1.4bn. It is confident that It will have transfers of 156 rai. It is negotiating to sell land 60 rai in 2Q16. It plans to develop an area in Vietnam. (Kao Hoon, 19/5/16)

Continue reading Stocks in the news (advanc, ajd, amatav, bcp, ccp, delta, ea, ecf, ktc, ktis, malee, wha) 19.05.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (asefa, bcp, big, bwg, fsmart, lhbank, malee, pca, pttep, ptg, pylon, siam, sr, tsf) 29.01.16

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ASEFA
ASEFA expects its new plant to run this February. This plant will raise its capacity by 50%. It plans to open five more after-sales service centers to handle upcoming large orders. (Thun Hoon, 29/01/16)
Comment: Well the question will turn to utilisation rates, its a new ipo, not much of a public market track record and we still have many questions about it.

BCP
BCP expects 2015 net profit to be over Bt4.1bn (500% growth) despite net loss of Bt99mn in 4Q15 from stock and impairment loss. (Khao Hoon, 29/01/16)

BIG
BIG targets 2016 revenue to grow 10% by offering photography services and solutions. It plans to provide another service, printing photos from mobile phones, targeting the youth. It plans to pay a dividend on its robust 2015 earnings. (Thun Hoon, 29/01/16)
Comment: They say that 1) Margins are stable 2) Growth comes from consumers actually wanting to use cameras and the change in consumer behaviour; I say 1) Ok 2) Don’t see it ccontinuing

BWG
BWG targets 2016 revenue growth of 10-15% backed by increasing waste income. It is working with EGAT to invest in a waste power plant. It plans to cooperate with IEAT to invest in IE for alternative energy, with a decision to be made by April. Foreign investors are interested in its shares via PP. (Khao Hoon, 29/01/16)
Comment: It would be interesting to see how this company develops….if everything they say is true then there could be a decent amount of upside available. No idea why they would need a PP give that their capital base seems solid

FSMART
FSMART targets 90,000 Boon-Term Top-Up machines by the end of this year. It expects these to contribute Bt21bn revenue in 2016. It expects to offers a new platform for its Top-Up machines to make them more user friendly. (Thun Hoon, 29/01/16)
Comment: Just amazeballs

Continue reading Stocks in the news (asefa, bcp, big, bwg, fsmart, lhbank, malee, pca, pttep, ptg, pylon, siam, sr, tsf) 29.01.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (aqua, atp30, bmcl, chow, col, epg, ilink, ktc, malee, ndr, pstc, siri, sricha, svoa, syntec, tasco, the, trc, tsr, tta) 17.11.15

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AQUA
AQUA reported 3Q15 net profit of Bt69.61mn (+108.16%). 9M15 net profit was Bt221.96mn (+114.74%) backed by a growth in sales of electricity, warehouses, and ads. (Khao Hoon, 17/11/15)

ATP30
ATP30 has three new customers. It will supply 30 cars that will contribute revenue from the beginning of 2016. It reported 3Q15 net profit of Bt2mn. 9M15 revenue grew 14.81%. It is confident 2015 revenue will reach Bt270mn (+15%). (Khao Hoon, 17/11/15)

BMCL
BMCL reported 3Q15 net loss of Bt148.18mn (-7%). Ridership rose to 300,000, raising revenue from fares by 9.66% while commercial development revenue rose 6%. (Khao Hoon, 17/11/15)
Comment: CK has decided to merge BECL and BMCL they need the clean balance sheet of BECL to finance all of BMCL’s future growth

CHOW
CHOW reported 3Q15 net profit of Bt36.27mn backed by implementing cost control, revenue from power business and FX gain. (Thun Hoon, 17/11/15)
Comment: We do wonder at what point will CHOW begin to recognise its expansion into Japan

COL
COL expects 2016 revenue to grow 15% from Bt10bn this year. It plans to switch online sales to market place. It has budgeted Bt1bn to broaden its market at home and abroad. (Khao Hoon, 17/11/15)
Comment: A switch from online sales to market place? Wait isn’t this an ecommerce business? I have often thought aloud that for this company to be the equivalent of, say, Amazon, a change in management and mind set would be needed.

Continue reading Stocks in the news (aqua, atp30, bmcl, chow, col, epg, ilink, ktc, malee, ndr, pstc, siri, sricha, svoa, syntec, tasco, the, trc, tsr, tta) 17.11.15 →

Commentary, Research, Stocks, Updates

Stocks in the news (ait, azay, bsm, cho, cm, eforl, epco, gunkul, irpc, malee, mc, ncl, plat, ps, pstc, pylon, sci) 16/11/15

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AIT
AIT reported 3Q15 net profit of Bt148.84mn (+69.17%). Its 9-month net profit is Bt416.68mn. It expects to finish projects to reach target. (Thun Hoon, 16/11/15)
Comment: Astounding numbers from AIT, although given that Thailand’s government spending in this sector has been a bit slow last year it isn’t a surprise to see a decent recovery

AZAY
AZAY reported 9-month performance of 7% growth YoY. It expects to use digital system to increase sale efficiency. (Khao Hoon, 16/11/15)

BSM
BSM reported 3Q15 net profit of Bt7mn (+20%) YoY after an increase in sales. (Thun Hoon, 16/11/15)
Comment: I’ve always liked this company but never found the valuation to be attractive…

CHO
CHO is likely to not get its main expected NGV bus project since the project is expected to be canceled. (Khao Hoon, 16/11/15)
Comment: Quite the surprise for the CEO, he seemed rather adamant that he was going to be able to successfully win.

Continue reading Stocks in the news (ait, azay, bsm, cho, cm, eforl, epco, gunkul, irpc, malee, mc, ncl, plat, ps, pstc, pylon, sci) 16/11/15 →

Commentary, Research, Stocks, Updates

Management Trades 12/10 – 16/10

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Notable Transactions

Buy(s) THB 169 mn

  • MALEE – Looks like a swap between the Central family members
  • RS – And the owner keeps buying and buying

Sell(s) THB 959 mn

  • BEC – Another large block sale by the maleenont family
  • MALEE – See above
  • MINT – Quite rare to see this director sell his shares in MINT, he’s been there for the past….15 or so years
  • ACAP – It’s been news in the market that the major shareholders of ACAP have sold out.
  • KC – This property company is somehow trading @ THB 2.5 bn mkt cap even though it’s profits have never been higher than THB 40 mn in the past 5 years
  • TIPCO – These shares have run up because of its holding in TASCO, no surprise seeing a large sale here.

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