ADVANC has budgeted Bt2bn to upgrade 4G client services. It targets expanding to 121 branches by the end of 2016. (Kao Hoon, 29/03/16)
AJD work with Alibaba to service Alibaba members in Thailand. It sets member target at 5,000 members or revenue of Bt250mn in 2016. (Thun Hoon, 29/03/16)
ARROW expects 2016 profit to be a new high. It is confident that revenue will reach Bt1.4bn. It expects 1Q16 earnings to be good supported by more sales, its backlog of Bt250mn and bids for government jobs. (Kao Hoon, 29/03/16)
Comment: And they continue and continue to grow and grow, at what point do they need to increase capacity to maintain this path?
BRR expects revenue and profit in 2016 to grow, driven by rising in sugar price. It expects to get 2.2mn tons of sugar cane and book full-year revenue from its biomass power plant. It expects to increase power plant revenue to 20%. (Kao Hoon, 29/03/16)
Comment: Sugar prices have rebounded from 10 to ~14 now so would 1Q-2Q should begin to look decent for all the sugar names in Thailand compared to last year.
ACC’s shareholders have approved 300mn share capital increase, at par Bt0.25 with warrant at a ratio of 4:1 and an exercise price of Bt1.25. It will use the funds for business expansion. It expects 2016 revenue to turn around on the back of alternative energy and property business. Its power plant business has already contributed revenue in Jan 2016. (Thun Hoon, 14/03/16)
Comment: Another odd (but new!) company that will somehow magically combine alternative energy and property development…
AEONTS plans to expand to 300,000 credit cards this year, focusing on young adults with a monthly income of over Bt30,000 of income. It expects to tighten extending credit to factories given the slowdown in export growth. (Khao Hoon, 14/03/16)
BANPU’s board approved a capital increase of 2.582mn shares, at a ratio 2 old: 1 new at Bt5 with 1 warrant. It will use the funds to restructure its financing and lower debt from Bt12.9bn currently, in the process cutting D/E to 1.23X. (Thun Hoon, 14/03/16)
FSMART expects 2016 revenue growth of 30%. It targets 90,000 Boon-Term Top-Up machines by the end of this year from 71,000 at the end of February. It plans to offer a new service, money transfers via Top-Up machines, in April and an e-wallet in mid-2016. (Khao Hoon, 14/03/16)
Comment: If the top line growth is this high, expect for bottom line to grow at 1.5x multiple…
Names today: CEI, EE, GFPT, GLAND, HMPRO, JSP, MACO, NPP, PTTEP, RS, SCC, TAKUNI, TNDT, TPC
CEI plans to invest in property business through a subsidiary after it has completed restructuring its business model. It plans to open Townline Sattaheep Project, a 32 townhome project valued at Bt200mn. This project will focus on management working in IEs in the east (Chonburi-Rayong). The launch for presales will be on Oct 28. It expects this to finish by 2016. (Thun Hoon, 28/10/15)
Comment: You could argue that they are trying to move up the value chain (note: They manufacture & distribute ceiling fans for OEM’s and branded customers
EE expects 2016 performance to turn around after booking revenue from a 240MW power plant from 2Q16. It expects to get a mega project, which it can handle easily with a D/E ratio of zero. It plans to wipe out losses of Bt684.36mn via retained earnings and pay a dividend with a payout ratio of 40%. It is looking for a partner. (Thun Hoon, 28/10/15)
GFPT expects 3Q15 earnings of not less than Bt286mn (+43%), marking a record high on the back of recovery in chicken price and the weaker baht. It targets revenue growth of 10% in 2016. It plans to expand abroad. (Thun Hoon, 28/10/15)
Comment: Still an amazing chicken co regardless of the industry performance.
GLAND expects 3Q15 earnings to outperform backed by Belle Grand Rama 9 project valued at Bt14bn, which has 26% left to transfer. 2015 revenue is expected to be good aided by rental revenue from The Nine, Unilever, and The Shop. It plans to introduce a Bt6bn condominium and Bt3.8bn GLAND Tower. It also plans to invest more in the hotel business. (Thun Hoon, 28/10/15)
Comment: They are all in with their project @ Rama iX
ASIMAR expects to bid for a Bt1bn ship building contract. It plans to increase capacity by set up a third floating dock. It expects 3Q15 earnings to be good aided by transfers. (Thun Hoon, 05/10/15)
BMCL expects growth in 3Q15 earnings backed by increasing passengers. It expects 300,000 passengers/day. It expects to show a net profit in 2016 after the MRT Purple Line begins contributing revenue in 4Q15. (Thun Hoon, 05/10/15)
Comment: The moment that BMCL can expand its lines from its existing ~20km to just even 30km then it’ll finally become a profitable company.
COLOR expects 2015 revenue to mark a record high thanks to high demand and lower oil price. It expects 5% growth in 2015 revenue. It plans to increase exports to comprise 20% from 18- 19% now. (Thun Hoon, 05/10/15)
CPALL expects 2H15 earnings to be better aided by a marketing campaign, recovery in purchasing power, and seasonality. (Khao Hoon, 05/10/15)
Comment: Again the story here is purely if and/or when they’ll sell their stake in MAKRO to the market.
Revenue will turn around and reach Bt3bn in 2015 due to the property business. The firm is working on development some land in Hua Hin, after which it will sell the land. The firm will have a campaign with financial institutions for point reduction. (Khao Hoon 27/04/15)
AEONTS expects loan growth of 8-10% in 2015-2016 from Bt100bn in 2014. It expects domestic consumption to recover if the government pushes its investment. (Thun Hoon, 27/04/15)
Comment: Analysts have been saying that AEONTS is a perfect play for ASEAN, in reality Thailand still represents 99% of all business, the rest of ASEAN won’t be a factor for another 5 years at the earliest.
1Q15 earnings may miss on higher inventory loss. However, BCP stock is still interesting as there is upside to valuation. Its earnings fluctuate less than other stocks in the sector and it has opportunity to grow from its solar power plants in Thailand and Japan, with capacity rising from 118MW to 250MW in 2015. (ASTV 27/04/15)
BKD signs contract with Mercure Hotel for interior; the contract with Mah Fah Luang University, worth Bt1bn, will be signed soon. It also has a Plaza Athenee Hotel in the U.S. for which it plans to sign the contract in 1Q15. Revenue and earnings in 1Q15 are expected to rise about 10%. (Khao Hoon 27/04/15)
Comment: A smaller construction player, this contract doesn’t justify the valuation though, market cap still @ THB 2.8 bn
Investors in Japan and Thailand interested in joining to do alternative energy project, with DCON, solar power plant for Japanese investors and waste power plant for Thai investors. DCON will do a JV with two property firms to build a precast factory that will bring a turnaround in both
revenue and earnings. (Thun Hoon 27/04/15)
Comment: DCON has gone from a construction material manufacturer, to a part time condo developer and now an alternative energy player.
Plans to increase in investment in response to government projects that will improve the economy and investment in the eastern area. Earnings in 1Q15 were lifted by a 10% rise in water sales. (Thun Hoon 27/04/15)
Comment: A very straightforward utility player.
Revenue in 1H15 to grow to more than Bt321mn with expected 20% growth in 2015 revenue due to economic recovery. The firm plans to invest Bt500mn into expanding its coverage area to 100,000sq.m. (Thun Hoon 27/04/15)
Comment: It’s a very fragmented industry that MACO operates in, I’ve always liked their business as an mini-landlord
Plans to acquire packaging firm in Thailand, and add clients, which will rise its revenue. It will book revenue from adverts in JIFFY shops in May. Sales are expected to reach Bt80-100mn this year. The firm believes 2015 revenue will beat 2014’s Bt217.81mn. (Thun Hoon 27/04/15)
PJW plans to push revenue from auto to 15% and is confident that revenue will achieve target, supported by Bt100mn in revenue from its paint factory. (Thun Hoon, 27/04/15)
SENA plans to increase capital via PP. It has entered into negotiations with several entities to partner with it to invest in renewable energy to diversify its portfolio. The deal will be finished this year. It maintains its 2015 target revenue at Bt3bn. (Thun Hoon, 27/04/15)
Comment: Another solar player! But one with an actual property business trading @ 7x earnings.
Money enough for expansion despite no PP – Although TLUXE shareholders did not give the nod for a PP, the firm has enough cash from the rights offering to undertake its expansion. Earnings should turn around with revenue of Bt3bn from agriculture. (Thun Hoon 27/04/15)
TPCH shareholders approve contract with TPOLY – Shareholders will allow subsidiaries Patalung Green Power (PGP) and Satun Green Power SGP to a sign a Bt2bn contract with TPOLY to build a biomass power plant. The firm is confident that it will be granted a PPA (power purchase agreement) of up to 150MW this year. This project will grow revenue 30-40%. (Khao Hoon 27/04/15)
TRT plans to expand abroad. The company is ready to sign a power plant contract in Laos to support revenue in 2Q15. (Thun Hoon, 27/04/15)
Wiping out accumulated loss – TRUE shareholders approved wiping out the accumulated loss of Bt37.1bn by transferring share premium and legal reserve and reducing number of shares by cutting par value from Bt10 to Bt4. Earnings will reach Bt4bn in this year because there is no more depreciation of 2G. (Khao Hoon 27/04/15)
Comment: It is interesting how playing with one’s financials can wipe out the accumulated loss and allow the firm to pay a dividend in the future.
1Q15 profit to rise sharply from selling more electricity. The solar farm power plant in Japan is progressing, waiting an agreement from the Japan government, expected to be cleared in 2Q15. The firm expects to do 30-40MW in projects this year. (Khao Hoon 27/04/15)
TSR plans to increase capital by 258mn shares at par of Bt1 to support its warrant of over 200mn units. It will pay a stock dividend at 0.1667/share and a cash dividend of Bt0.02/share. The company believes that high household debt will not affect business in 1Q15. It plans to open a new branch in Khon Kaen at the end of April. (Thun Hoon, 27/04/15)
Institutions interested – Both local and foreign institutions are interested in investing in UNIQ because they expect more government budget expenditure and a chance to add more value. It will have two new projects in 2Q15 worth Bt9bn. (Thun Hoon, 27/04/15)
9-month earnings up 62%. The firm plans to invest in more property projects and a health center this year. The firm has started the foundations at a condominium at Watcharapol, worth Bt1.2bn, with Phase1 having 600 units worth Bt600mn. 2016 revenue will grow dramatically because the dental and health center will open at the end of 2015. (ASTV 27/04/15)