Tag Archives: ofm

Stocks in the news (earth, egco, fancy, hemraj, hydro, jubile, loxley, ofm, oishi, pcsgh, perk, prin, ps, sanko, seafco, symc, tgci, tpipl) 12.03.15

EARTH
EARTH expects higher region coal price to lift 1Q15 profit above Bt3.8bn. Management remains confident that its sales volume will reach 10mt in 2015 due to higher demand. It plans to acquire more mines with reserves of 40mt, conclusion by 4Q15. (Thun Hoon, 12/03/15)
Comment: The owners have been pledging their shares for a ton of equity financing hence the odd management trades we have seen over the past 2 years.

EGCO
EGCO unveils 5-year plan. This will focus on power plants under development. The company confirms its plan to expand in ASEAN and Asia Pacific region with required equity IRR of more than 10%. (Krungthep Thurakij, 12/03/15)

FANCY
FANCY reports three major shareholders sold 28.46% of total shares via big-lot transaction to two new investors at Bt3.5/share. Management says this will not affect the controlling power of the existing major shareholders and the company’s business plan for particle board production and rubber wood in Surat Thani. (Thun Hoon, 12/03/15)
Comment: It’s been a dying industry for a long time and I don’t see things changing.

HEMRAJ
HEMRAJ says land demand has been recovering since early 2015. Demand is being seen from both existing and new clients. It expects to sell 1,400 this year and is developing new land for potential clients. It plans to restructure after the end of the tender offer by WHA in March. (Thun Hoon, 12/03/15)
Comment: The question is how many assets will be sold by HEMRAJ in order to help WHA fund the acquisition? The Koh Lan is apparently being sold + a REIT will be set up for its factories + their office building could still be sold.

Continue reading Stocks in the news (earth, egco, fancy, hemraj, hydro, jubile, loxley, ofm, oishi, pcsgh, perk, prin, ps, sanko, seafco, symc, tgci, tpipl) 12.03.15

Stocks in the news (anan, aot, cpn, gunkul, iec, ivl, kbank, ktb, lhk, nusa, ofm, samart, sappe, sat, spali, takuni, tuf) 11.12.14

ANAN
ANAN budgets Bt3bn to purchase land to support business expansion. The company targets revenue of Bt12-15bn with presales of Bt22.5-23.5bn in 2015. (Kao Hoon, 11/12/14)
Comment: The upside for me in ANAN is on operational leverage i.e. fixed costs should be stable, thus with revenue growth of 20-30%, i wouldn’t be surprised to see net profit growth increase at a multiple of it.

AOT
AOT predicts surge in traffic — Airports of Thailand Plc (AoT) sees a strong rebound in passenger traffic through its airports in the year to September 2015, due mainly to the improved tourism outlook. The state-controlled company, which operates six airports including Bangkok’s Suvarnabhumi, projects a 12% jump in combined passenger throughput during October 2014 to September 2015 to reach 98.1mn, up from 87.6mn. (Bangkok Post, 11/12/14)
Comment: The amount of Chinese travelers continues to outweigh the decrease from the ROW

CPN
Hopes for 12-13% growth in 2015 — CPN has set its revenue growth target at 12-13% for 2015. (Kao Hoon, 11/12/14)

GUNKUL
GUNKUL interested in taking a stake in “Wind Energy” due to its potential. It has set a revenue growth target for next year of at least 30-50% from this year’s expected revenue of Bt3bn (up 50% YoY). It plans to increase its electricity production capacity to 300-500MW in 2017. (Kao Hoon, 11/12/14)
Comment: GUNKUL continues to rock n roll with its expansion into renewable energy and its holdings in wind power plants, should they take the stake off K. Nopporn in WEH don’t be surprised to see a big bounce back in DEMCO shares.

Continue reading Stocks in the news (anan, aot, cpn, gunkul, iec, ivl, kbank, ktb, lhk, nusa, ofm, samart, sappe, sat, spali, takuni, tuf) 11.12.14

Stocks in the news (cpf, gel, grammy, mill, n-park, ofm, pca, ratch, slc, sst) 23.07.14

CPF

CPF plans to expand into food business in Australia. CPF targets 500 chain restaurant branches, and also looks to sell its ready made meals, which it believes has strong potential. The management estimates CAPEX in the range of AU$200mn spread over five years. (Kao Hoon, 23/07/14)

Comment: CPF is continuing on their mission to be the kitchen to the world, shame about the child labour though.

GEL

GEL: revenue growth of 30% from new buyers. The management is confident that due to NCPO policies 3Q14 should see more construction thus additional demand for its products. (Kao Hoon, 23/07/14)

Comment: Another construction materials company that could benefit if the infrastructure plans go ahead.

GRAMMY

GMM Grammy, CTH plan share swap to keep lid on pay TV business loss – GMM Grammy will make a share swap with CTH via its wholly owned subsidiary Z Trading in a Bt1bn transaction as Grammy tries to focus solely on digital television and exit pay TV, while CTH strives to expand its viewership and content. (The Nation, 23/07/14)

Comment: Will post thoughts on this later today.

Continue reading Stocks in the news (cpf, gel, grammy, mill, n-park, ofm, pca, ratch, slc, sst) 23.07.14

Stocks in the news (advanc, bts, cimbt, cnt, erw, ofm, pps, ptg, pylon, spcg, sta, tmi, wha) 03.06.14

ADVANC
AIS rolls out Future Cube for demos – Advanced Info Service Plc (AIS) has unveiled a demonstration centre for a virtual telecommunications experience to make deeper inroads into the future of mobile 3D application storefronts. (Bangkok Post, 03/06/14)
BTS
BTS ready to borrow Bt80bn and is prepared to operate trains on three lines: Green (north and south) and in Beijing. It is confident in its competitiveness because it can maximize passenger comfort at a lower cost. It has Bt31bn cash. (Khao Hoon, 03/06/14)
Comment: You gotta love khao hoon, since when does BTS need this amount of debt? For what?
CIMBT
CIMBT looks for regional revenue enhancement — Pornchai Padmindra, head of wholesale banking, said CIMBT’s regional banking revenue had been gradually rising, supported by restructuring aimed at supporting large and medium-sized corporate clients expanding to ASEAN markets. It is aiming at revenue growth for wholesale banking of 69% this year, which would be helped by corporate loan expansion of Bt10bn or 17% of wholesale banking revenue. (Bangkok Post, 03/06/14)

Continue reading Stocks in the news (advanc, bts, cimbt, cnt, erw, ofm, pps, ptg, pylon, spcg, sta, tmi, wha) 03.06.14

Stocks in the news (bcp, demco, egco, eic, global, mc, ofm, ptt, robins, tog) 27.05.14

BCP

Only slight QoQ fall in EBITDA in 2Q14 — Although its refinery will be shut down for maintenance, BCP expects EBITDA for 2Q14 to only fall slightly compared to 1Q14. Even though EBITDA for refinery business will fall by 30%, revenue from its three solar energy phases plus the attractive adders, will help strengthen EBITDA margin this quarter. (Khao Hoon, 27/05/14)

Comment: The main growth driver here will be from the solar business which is what had analysts all excited for the past 3 months

DEMCO

DEMCO says 2Q14 net profit will be strong supported by dividends of more than Bt116mn from wind projects Huay Bong 2 and 3. Management said its current backlog is Bt4.348bn and it is waiting to sign for a Bt200mn new project. It will also expand into Laos, Myanmar and list “Wind Energy Holding” in the market at the beginning of 2015. (Tun Hoon, 27/05/14)

Comment: The listing of the Wind Energy Holding + its dividends from the wind projects are keeping demco’s valuations at these levels.

EGCO

EGCO confirms investment into electricity business this year at Bt18bn, with at least ROE of 10%. Management said they will expand and invest in both Thailand and abroad. (Khao Hoon, 27/05/14)

Continue reading Stocks in the news (bcp, demco, egco, eic, global, mc, ofm, ptt, robins, tog) 27.05.14

Co Visit: Officemate Plc (OFM)

OfficeMate Plc (OFM) is a distributor of office supplies that uses an omni-channel model and an e-commerce company managing the OfficeMate.co.th, Central.co.th and Robinson.co.th websites. OFM listed on the Market for Alternative Investment in 2010 and joined the SET in January 2013 after Central Retail Corporation (CRC) acquired a major stake in the business. Chief executive Worawoot Ounjai discusses the company’s strategy and outlook.

OFM

What is OFM’s business model?

OFM has three business, Office Mate which is B2B and supplies tools for work via a omni-channel model which includes , the retail store, catalog call center and online. We have B2S which is an “edutertainment” business, as it combines education and entertainment via books and stationary. The final business is Central.co.th and Robinson.co.th, Central Group has only begun to sell online and the operations of a physical store and an online store are not the same, and because Officemate grew from a non-store we understand this business model very well. The aim will be for every store of Robinson, Powerbuy, Supersport which are all online, to be merged them into these two websites. We are completing a dedicated warehouse for this, specific business units for each website. Ten million Thai people walk through a Central or a Robinson’s every year, they have the experience and trust with the Central brand already and thus transferring this trust to the online portal will be easier because the brand name is there, and this is why we believe Central Online can be successful. Continue reading Co Visit: Officemate Plc (OFM)

Stocks in the news (bcp, cpn, dsgt, ofm, spali, tmb, trc, trueif) 26.03.14

BCP

Bangchak’s solar sprint – The mostly state-owned oil refiner Bangchak Petroleum Plc says its third phase solar project in the Northeast is ready to feed power to the national grid one month ahead of schedule, signaling higher future revenue than expected. (Bangkok Post, 26/03/14)

Comment: The only sunny thing in the entire energy sector

CPN

CPN keeps income growth goal at 15% – Central Pattana (CPN), Thailand’s largest shopping mall developer, is maintaining a 15% revenue growth target this year, banking on the launches of two stores and rent rises amid the faltering economy. The company will commercially open Central Festival Samui on Friday and Central Plaza Salaya in the third quarter, said Wallaya Chirathivat, senior executive vice president. (Bangkok Post, 26/03/14)

DSGT

DSGT aiming at double-digit growth in 2014 from the launch of a new product. It is preparing to invest Bt800mn in expanding capacity and will look to markets on overseas. (Khao Hoon, 26/03/14)

Comment: #1 in adult diapers, #3 in baby diapers, stop giggling, this company has been on a roll for the past 8 years Continue reading Stocks in the news (bcp, cpn, dsgt, ofm, spali, tmb, trc, trueif) 26.03.14

Stocks in the news (hemraj, ktb, lh, ofm, ptt, tpoly) 24.01.14

HEMRAJ

HEMRAJ aims land sales of 1,600 rai and invest Bt6bn in 2014. It will launch the 7th industrial park, Hemaraj Chonburi 2, in 4Q14. It views the political situation as an opportunity to buy cheap land. (Khao Hoon, 24/1/14)

Comment: Still the best company around, if the stock price drops enough as a function of this then it may be attractive again 

KTB

KTB denies rumor it will supply money to pay farmers — KTB denies the rumor flying over social networks that it has agreed to lend Bt160bn to the government to pay farmers in the rice-pledging scheme. (Khao Hoon, 24/1/14)

Comment: This rumour has been bouncing around regarding KTB or the social security office or the etc etc etc… 

LH

LH revised down its revenue target for 2014 to Bt27.5bn and presales at Bt32bn. It will launch 21 new projects worth Bt35bn and invest Bt9bn. It will issue debentures of no less than Bt8bn. (Khao Hoon, 24/01/14)

Comment: A stalwart in the property industry, but only attractive to us whenever there is a market crash 

Continue reading Stocks in the news (hemraj, ktb, lh, ofm, ptt, tpoly) 24.01.14

Stocks in the news (bbl, ofm, tmb) 14.06.13

BBL: Maintains loan growth at 6% yoy in 2013. BBL expects GDP to grow 4% this year, lower than the earlier forecast of 5%. However, the bank still maintains its loan growth target at 6%, supported by resilient domestic demand, especially investment demand. According to the bank, it will be one of the major lenders to IDT which is expected to get the largest pie in the government’s water management project. (Source: The Nation)

Comment: I do like the conservative nature of BBL

OFM: Expects revenue to grow 20% yoy in 2013. OFM expects revenue to grow 20% yoy this year (2012: Bt8.2b) after the consolidation of Office Depot and B2S, two business units from Central Group. (Source: KrunTep Thurakit)

Comment: Fantastic business that OFM has, I love online retailing but it is a damn competitive industry, however given Thailand’s continued penetration with smartphones and internet this coommpany can only benefit.

TMB maintains its growth target : TMB Bank is maintaining its 10-to-15-per cent target for profit, deposit and loan growth, chief executive officer Boontak Wangcharoen said. (Source: The Nation)

Comment: A rumour driven stock, no thank you

Changes in MSCI Thailand Index

This came across my desk yesterday.

MSCI Thailand (MSCI Global Standard)

  • Add : HMPRO, MINT, INTUCH, TRUE
  • Delete : None

MSCI Thailand (MSCI Global Small Cap)

  • Add : ANAN, BMCL, EASTW, EA, GRAMMY, GUNKUL JMART, KTC, MALEE, N-PARK, OFM, OISHI, SAMTEL, SPCG, TFD, THRE, UMI, UV, VGI, WHA
  • Delete : BLA, BTS, VNT