Tag Archives: pcsgh

Stocks in the news (advanc, ba, bafs, btw, ccn, csl, fpi, gunkul, ihl, kbank, kbs, kool, mk, pcsgh, planb, ptt, synex, thcom, true, twpc, upa) 19.08.16

ADVANC
ADVANC plans to increase 2016 revenue target to accommodate greater revenue from services and a campaign to stimulate sales. It expects the 900MHz license to cut EBITDA margin in 2H16 to an average of 38-39% in the year. It expects maintain its 100% dividend payout. (Thun Hoon, 19/08/16)
Comment: While the dividend payout ratio remains, it will probably followed the trend of DTAC’s i.e. declining
 
BA
BA is preparing a roadshow in Hong Kong for November. It targets an annual average revenue growth of 10-15%. It has budgeted Bt12bn to expand its airport and buy more airplanes. It expects passenger growth of 20% to more than 1.2mn passengers supported by high season. (Thun Hoon, 19/08/16)
BAFS
BAFS expects 2H16 to grow on high season. It expects aviation fuel services to increase 8% and expects revenue to grow more than 9% to a new high compared to last year. (Thun Hoon, 19/08/16)
Comment: A great “little” monopoly
 
BTW
BTW will pay an interim dividend of Bt0.27/share or return of 6.46%, payment on Sep 9. It expects 2H16 to be good supported by bids for new jobs. (Thun Hoon, 19/08/16)
CCN
CCN plans to bid for jobs of more than Bt200mn. It expects 2016 revenue growth of 20%. It plans to expand to the energy business, closing a deal by the end of 2016. It reported 2Q16 profit growth of 1,009% due to cost management and expects continued growth in 3Q16. (Thun Hoon, 19/08/16)

Continue reading Stocks in the news (advanc, ba, bafs, btw, ccn, csl, fpi, gunkul, ihl, kbank, kbs, kool, mk, pcsgh, planb, ptt, synex, thcom, true, twpc, upa) 19.08.16

Stocks in the news (acap, bkd, cpf, major, mint, mtls, pcsgh, prin, snc, ticon, tog, tpch, uac, vgi, wice) 13.05.16

ACAP
ACAP reported 1Q16 profit of Bt16mn, up 244%, after changing strategy to focus on major customers and get new ones. It targets loans of Bt2bn by end-2016. (Kao Hoon, 13/5/16)
BKD
BKD reported net profit of Bt16.59mn, growth of 27%. It plans to reverse doubtful account of Bt28mn and profit on a delayed project of more than Bt20mn in 3Q16. It plans to bid for work worth Bt1bn. (Kao Hoon, 13/5/16)
CPF
CPF expects sales to grow 10-15% in 2016. It reported 1Q16 profit of Bt3.76bn, growth of 27% and revenue of Bt105bn, up 10%. It has an investment budget of Bt10bn. It plans to issue a debenture worth Bt10bn in 2H16. (Kao Hoon, 13/5/16)
Comment: A main reason for the market performing well recently, its GPMs were 400 bps higher than most analysts forecasts
MAJOR
MAJOR expects revenue and profit target growth of 10% in 2016. It expects 2Q16 will be new high. It will report 1Q16 earnings today. It has budgeted Bt1bn to add 100 movie screens in Thailand and abroad. (Kao Hoon, 13/5/16)
MINT
MINT reported 1Q16 profit of Bt3.57bn or growth of 66% supported by booking extra item plus an uptrend in its food and hotel business. (Kao Hoon, 13/5/16)
Comment: It’s just incredible that they have been able to grow this well despite being @ a higher base each and every year

Continue reading Stocks in the news (acap, bkd, cpf, major, mint, mtls, pcsgh, prin, snc, ticon, tog, tpch, uac, vgi, wice) 13.05.16

Stocks in the news (as, asefa, ask, bgt, cpn, drt, dtac, ivl, paf, pcsgh, samart, stpi, tpbi) 11.03.16

AS
AS expects a turnaround in 2016 after a business restructure. It sets revenue target growth 30% which mainly from smartphone market. (Kao Hoon, 11/03/16)
Comment: I’ve always liked management here but their industry has been turned upside down by the advent of smartphone technology and they’ve been incredibly slow to keep up with the changes, one wonders if it is too late…

ASEFA
ASEFA targets 2016 revenue growth of 15%, supported by backlog of Bt1.7bn. It is bidding for new jobs in total worth Bt2-3bn. It will maintain its gross margin at 22.35%. (Kao Hoon, 11/03/16)

ASK
ASK will focus on truck loans as it expects the AEC will increase logistics demand. It is confident that 2016 loans will grow 10-15% and maintains NIM at 22.35%. (Kao Hoon, 11/03/16)
Comment: Everyone is banking on the infrastructure spending Thailand, and leasing companies such as ASK and THANI are no different

BGT
BGT expects outstanding earnings in 1Q16 supported by sales from Myanmar. It plans to add 1-2 branches in Myanmar. It expects revenue of Bt11mn from abroad. It expects 2016 to grow 10% supported by new products. (Thun Hoon, 11/03/16)
Comment: They were finally able to eek out a small amount of profit in 2015 after the losses in 2014.

Continue reading Stocks in the news (as, asefa, ask, bgt, cpn, drt, dtac, ivl, paf, pcsgh, samart, stpi, tpbi) 11.03.16

MSCI Thailand Changes

MSCI’s latest review of indices was announced during the week and here are the key details:
Effective date: December 1, 2015
MSCI Thailand Index – None
MSCI GLOBAL SMALL CAP INDEXES – Thailand (+5 / -8)
  • Additions: GPSC, IMPACT, PLAT, TIPCO, VNG
  • Deletions: DSGT, LOXLEY, MBK, MONO, NOK, PCSGH, PTL, SIM

Stocks in the news (bkd, brr, ccet, ccp, chow, drt, jwd, lhsc, kcm, pcsgh, pttgc, spa, super, svi, tae, tasco, top, tpch, xo) 11.11.15

BKD
BKD reported 3Q15 earnings growth of 107%. It expects 2015 revenue to mark new high. It has completed up a roadshow in Hong Kong with CLSA with good feedback. (Khao Hoon, 11/11/15)
Comment: I just don’t understand how they were able to grow as well and whether or not it is sustainable.

BRR
BRR says investors from Singapore are interested in its shares because of its strong fundamentals. It will hold a site visit on December. It has budgeted Bt800mn to invest in ethanol and biogas power plants. It expects 2015 revenue to reach new high backed by high sugar orders and the power business. (Thun Hoon, 11/11/15)
Comment: Nobody loves sugar no matter how sweet it is.

CCET
CCET reported 3Q15 net profit of Bt479.24mn (+124.47%YoY). 9M15 net profit is Bt1.09bn (+138.47%YoY). (Post Today, 11/11/15)
Comment: A weakening thai baht is +ve for all of electronic manufacturers, except perhaps SVI as the majority of their customers are based in Europe (albeit Scandinavia)

CCP
CCP expects 2H15 earnings to be good after the rainy season has passed. It plans to expand to neighboring countries as it
has got order from Cambodia. It backlog is Bt2.3bn. It plans to take part in Bt1bn biddings of which 50% is expected to be awarded. (Thun Hoon, 11/11/15)
Comment: It appears for CCP that a lot of the potential future projects have already been priced in for quite a while

CHOW
CHOW expects 3Q15 earnings to grow 1200%YoY on the back of revenue from construction and power business. It expects 3Q15 revenue of Bt800mn with Bt65mn net profit. 4Q15 is expected to be good backed by solar farm phase2. It expects 2016 revenue of Bt3bn with Bt500mn net profit. (Thun Hoon, 11/11/15)

Continue reading Stocks in the news (bkd, brr, ccet, ccp, chow, drt, jwd, lhsc, kcm, pcsgh, pttgc, spa, super, svi, tae, tasco, top, tpch, xo) 11.11.15

Stocks in the news (29.10.15)

Names today: BSM, DELTA, IEC, ILINK, KSL, NWR, PCA, PCSGH, SAWAD, SMT, SORKON, SVI, SYNEX, TMB, TPOLY, WORK

BSM
BSM expects 2015 revenue of Bt600mn (+20%), meeting target. It plans to cooperate with KCM to increase distribution channels, especially for high margin products. It targets 2016 revenue growth of 15-20%. It expects exports to comprise 30%. (Khao Hoon, 29/10/15)

DELTA
DELTA expects its performance to be good over the next two years backed by high margin products and a bigger customer base. It has budgeted Bt1bn to expand to India. (Thun Hoon, 29/10/15)

IEC
IEC expects 3Q15-4Q15 earnings to be good backed by its plastics plant. It expects 2015 net profit of Bt162mn. It targets power capacity of Bt23.59MW by the end of this year. It plans to increase capital by 24bn shares via PP, raising Bt700-800mn. (Khao Hoon, 29/10/15)

ILINK
ILINK expects to get a Bt957mn PEA project which will be put up for bid on Nov 12. It expects 4Q15 revenue to be good backed by signal lines and telecom rather than engineering. It expects 2015 revenue of Bt3bn. (Khao Hoon, 29/10/15)
Comment: Still one of the most obvious beneficiaries from the 4G/digital economy..if it ever goes ahead that is.

Continue reading Stocks in the news (29.10.15)

Stocks in the news (aav, ait, age, ba, bmcl, chuo, demco, drt, kbank, pcsgh, phol, samtel, vgi, vng) 11.09.15

AAV
AAV will pay its first ever dividend at Bt0.10/share, XD on September 14, paid on September 29. It expects 3Q15 earnings to be better on the back of recovery in tourists and lower oil price. It plans to open a new route soon. It expects 4Q15 earnings to peak thanks to seasonality. (Thun Hoon, 11/09/15)
Comment: Without a doubt, a continued beneficiary from the increase in Chinese tourists to Thailand
AIT
AIT has budgeted Bt700mn to invest in data centers in Thailand and Cambodia via setting up a joint venture. It expects the decision to be finalized this year. It plans to participate in the Bt11.36bn public projects up for bid in 2H15. It expects 2015 revenue to be less than 2014’s because of fewer public projects. (Thun Hoon, 11/09/15)
Comment: With the digital economy likely a go, then data centers are an easy money making
AGE
AGE expects 2015 net profit of Bt100mn after profit reached Bt34mn in 1H15. It expects 2015 revenue of Bt5bn. It plans to expand abroad. It is budgeting Bt50mn to invest in a coal screening machine which will raise capacity by 30% and allow it to take on the many orders. (Thun Hoon, 11/09/15)
BA
BA has budgeted Bt9bn to acquire more 43 aircraft by 2018. It plans to open a new route (Phuket-Hat Yai) this October, which will increase its passengers. It expects 2015 net profit to reach a new high backed by increasing passengers and cost control. It expects to pay an interim dividend. (Thun Hoon, 11/09/15)
Comment: The monopoly airline of Samui that has a decent holding in BDMS, can they translates their success to airports where they aren’t a monopoly?

Continue reading Stocks in the news (aav, ait, age, ba, bmcl, chuo, demco, drt, kbank, pcsgh, phol, samtel, vgi, vng) 11.09.15

Stocks in the news (ajd, ajp, big, brock, fer, fpi, hemraj, wha, ivl, kcm, mjd, mill, pap, pcsgh, pdi, ptg, ptt, sappe, syntec, tk, tsr, tta, tuf) 09.07.15

AJD
AJD is talking to a prospective partner which is expected to be finalized in 3Q15-4Q15. This deal will increase AJD’s competitive advantage by broadening its market abroad. It is looking for a partner who has a PPA to invest in a solar farm. (Thun Hoon, 09/07/15)
Comment: Again another PPA/renewable switch
AJP
AJP will ask shareholder okay to change its name to DCORP on August 3. It plans to invest in alternative energy with a budget of Bt3bn. (Khao Hoon, 09/07/15)
Comment: See above
BIG
BIG expects robust earnings in 2Q15. It plans to introduce a new product “Mirrorless” which will have a gross margin of 21%. It targets 2015 revenue to grow 10%. It plans to open five outlets in 2H15. It plans to wipe out retained losses soon. (Thun Hoon, 09/07/15)
BROCK
Property companies are interested in taking over BROCK as it is debt free with strong fundamentals. It is talking with a Chinese partner to invest Bt10bn in property in Phuket. It expects 2Q15 earnings to be good and plans to launch a new project worth Bt400-500mn. (Thun Hoon, 09/07/15)

Continue reading Stocks in the news (ajd, ajp, big, brock, fer, fpi, hemraj, wha, ivl, kcm, mjd, mill, pap, pcsgh, pdi, ptg, ptt, sappe, syntec, tk, tsr, tta, tuf) 09.07.15

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 for the week

Note: Scroll down to see commentary for the past 3 days.

Stocks in the news (amata, arrow, bay, bkd, cbg, ecl, kbs, ldc, pf, ptg, ptt, spali, super, tcap, thai, ttcl, wha) 27.01.15

AMATA
AMATA plans to invest in industrial estate in Myanmar, in addition to its existing investment in Vietnam to prepare for the inception of AEC. The company will also increase investment in an information technology system to add more value to its IE. The investment plan should be ready soon. (Krungthep Turakit, 27/01/15)
Comment: It’s a natural development for AMATA to have look at Myanmar however I can also say that I’m planning to expand to investments in Myanmar and raise $ even though its still years away.

ARROW
ARROW expects revenue growth of 20% and margin of 23-25% this year. The company plans to use capex of ~Bt30mn to build a new plant to serve more pipe conduit orders. (Post Today, 27/01/15)

BAY
No ‘trading alert’ — Despite a sharp 118% rally in the stock price since the beginning of this year, the SET says it does not meet the criteria for a “Trading Alert” sign, because the volatile share price movement was due to low liquidity. BAY denies the news about de-listing. (Krungthep Turakit, 27/01/15)
Comment: Everyone regrets not having these shares, I do wonder if local institutions (i.e. mutual funds) have benefited given that it traditionally isn’t among the top holdings.

Continue reading Stocks in the news for the week