Tag Archives: pjw

Stocks in the news (banpu, bcp, hmpro, kbank, ktb, mc, mtls, pjw, sat, scc, tcap) 07.09.16

BANPU
BANPU’s last day to get BPP IPO reserve. Today is the last day to buy BANPU and get rights to reserve BPP IPO and dividend of Bt0.25. The stock will be posted as “XB-XD” on September 8. (Khao Hoon, 7/9/16)
Comment: Most certainly one way of ensuring your share price stays elevated 
 
BCP
BCP to IPO BCPG this month. It is issuing ~ 590mn IPO shares with initial price estimated at Bt9.80-10.00 per share. (Khao Hoon, 7/9/16)
HMPRO
HMPRO to add branches. It plans to add more branches and set up marketing campaigns and promotions to attract customers. (Thun Hoon, 7/9/16)
KBANK
KBANK expects 2016 fee income to grow 5-12%, supported by investment banking deals, issuing bonds, M&A, REIT IPOs and extending loans to large corporate customers (expected growth of 4-5%) and SME (expected growth of 5-7%). (Khao Hoon, 7/9/16)
Comment: Looks there is no impact from decrease in transfer fees to KBANK
 
KTB
KTB expects SME recovery in 2H16, aided by government support and loans to construction companies. It targets 2016 loans of Bt25bn. (Thun Hoon, 7/9/16)

Continue reading Stocks in the news (banpu, bcp, hmpro, kbank, ktb, mc, mtls, pjw, sat, scc, tcap) 07.09.16

Stocks in the news (bafs, cnt, ecf, epg, fpi, ifec, jwd, kbank, ksl, mpg, pjw, smt, tks, tog) 08.06.16

BAFS
BAFS is confident that revenue will grow more than 9% in 2016 and expects net profit to be a new high, supported by a 7-8% increase in volume. (Kao Hoon, 08/06/16)
Comment: A natural grower with AOT
 
CNT
CNT expects 2016 earnings to be positive and plans to bid for a new job. It will change strategy to focus on high gross margin job at 4-6% to support earnings. Despite the loss in 1Q16 it targets 2016 revenue of Bt6.5bn. (Thun Hoon, 08/06/16)
Comment: When the entire industry picks up then CNT can finally win decent projects again, until then, I don’t expect much
 
ECF
ECF plans to bid for a 36MW biomass power plant on June 15-30. It expects 2Q16 furniture sales growth of 12-15%. It is confident that 2016 revenue will hit target of Bt1.5bn. (Kao Hoon, 08/06/16)
Comment: If thats the plan, expect to hear a PP or recap coming from them
 
EPG
EPG expects FY2017 earnings to grow over Bt1.6bn supported by more sales and increased capacity. (Kao Hoon, 08/06/16)

Continue reading Stocks in the news (bafs, cnt, ecf, epg, fpi, ifec, jwd, kbank, ksl, mpg, pjw, smt, tks, tog) 08.06.16

Stocks in the news (aot, bjc, ccp, eforl, jas, mk, pjw, ppp, pttep, saw) 23.03.16

AOT
AOT to put Suvarnabhumi airport phase 2 up for auction, This project is valued at Bt16.7bn (Khao Hoon, 23/3/16)

BJC
Berli Jucker Plc’s (BJC) shareholders okay buying BIGC. Shareholders have voted in favour of a $6.2 billion acquisition of hypermarket operator Big C Supercenter Plc from France’s Casino Group, sources told Reuters. (The Nation, 23/3/16)
Comment: Boom and now they have BIGC in Thailand and Metro in Vietnam, don’t be surprised to hear about expansions into Laos and Cambodia next.

CCP
CCP is confident that 2016 revenue will reach Bt2.6bn with Bt2.485bn backlog. It plans to join auctions worth Bt3bn. (Khao Hoon, 23/3/16)

EFORL
EFORL handed letter to SEC regarding internal control of Wutthisak Clinic Inter Group. It is planning to list its subsidiary on the market. (Thun Hoon, 23/3/16)
Comment: Well priced in by the market for years…

Continue reading Stocks in the news (aot, bjc, ccp, eforl, jas, mk, pjw, ppp, pttep, saw) 23.03.16

Stocks in the news (apco, akr, ccp, dcon, dtac, gl, irpc lalin, lph, ori, pjw, pk, qtc, smart, snc, spcg, thana, tpoly) 10.02.16

APCO
APCO expects 2016 revenue to grow not less than 10% despite the slowdown in domestic purchasing power. It expects 2016 revenue to reach Bt450mn with a gross margin of 25%. It plans to increase its distribution channels through local retail stores. It is looking for a partner to build its network in Singapore, Malaysia, and Indonesia. (Thansetthakij, 10/02/16)
AKR
AKR targets 2016 revenue growth of 25% backed by robust earnings every quarter after it adjusted its strategy. It plans to focus on marketing campaigns and increase inventory in 1Q16. It plans to take part in PEA and MEA bids, valued at Bt6bn, in 2Q16. It expects the government to approve solar projects in March. (Thun Hoon, 10/02/16)
Comment: Again the issue with AKR is that there are just better companies doing the same business in the market. 
CCP
CCP got concrete orders on motorway project (Pattaya-Mabtaphut), valued at Bt500mn. This will increase its 2016 backlog. It expects 2016 revenue of to Bt2.6bn. It expects to benefit from public projects and property projects. (Khao Hoon, 10/02/16)
Comment: A Definitely beneficiary from all this infrastructure spending, but it seems rather priced in already
DCON
DCON expects 2016 revenue to reach Bt1.15bn aided by a larger customer base. Its management is okay with a capital increase as it will support fundamentals and decrease its D/E ratio to 0.2X. It is budgeting Bt400mn to buy land. It plans to pay a dividend at a payout ratio of not less than 25%. (Thun Hoon, 10/02/16)
Comment: Is DCON shifting further and further away from being a pure manufacturer of construction material to a property developer? 

Continue reading Stocks in the news (apco, akr, ccp, dcon, dtac, gl, irpc lalin, lph, ori, pjw, pk, qtc, smart, snc, spcg, thana, tpoly) 10.02.16

Stocks in the news (age, apco, cen, ci, dcc, ifec, jwd, mcs, pjw, pttep, sawad, tfg, tk, tpch, uwc, wha) 16.12.15

AGE
AGE plans to expand to Vietnam and Cambodia where demand is high. It expects 2016 revenue to grow 10-20% from this year’s Bt4bn. It plans to expand its seaport, which is expected to increase its capacity by 30%. (Thun Hoon, 16/12/15)
Comment: The coal industry isn’t going anywhere and AGE is suffering with it

APCO
APCO plans to expand its market at home and overseas and will launch a new product, “Refreshing Spray”. It expects 4Q15 sales to increase by 50%. It expects to recognize revenue from abroad within 2016. (Khao Hoon, 16/12/15)
Comment: Effectively a listed MLM firm. If you believe that there are enough silly consumers out there to overpay for POS products then you can go ahead and believe in APCO

CEN
CEN expects to show net profit next year from net loss this year backed by its subsidiary and whole year of revenue from its power plant. It plans to expand abroad and acquire more power plants. (Thun Hoon, 16/12/15)

CI
CI expects 2016 revenue growth of 100% backed by transfers, rental revenue, and selling Bt1.2bn assets to REITs. It expects 2015 revenue to be higher than Bt2bn. (Khao Hoon, 16/12/15)
Comment: This will mainly be from the REIT, the issue with a property company this size is that earnings will be lumpy, great for a year or 2 and rubbish for the next few years and CI is no different.

Continue reading Stocks in the news (age, apco, cen, ci, dcc, ifec, jwd, mcs, pjw, pttep, sawad, tfg, tk, tpch, uwc, wha) 16.12.15

Stocks in the news (banpu, brock, bsm, dcon, dtac, fire, gl, pjw, s, scc, scn, spa, t, takuni, ticon, tndt, tuf, umi) 09.08.15

BANPU
BANPU plans to list subsidiary Banpu Power (BPP) on the SET in 1Q16. It targets an increase in electricity capacity from 1,878MW to 2,700MW to 4,000MW in the long term. (Khao Hoon, 09/09/15)
Comment: This should change the value proposition in BANPU dramatically.

BROCK
BROCK is talking to three prospective partners to invest in mixed-use property in Phuket, valued at Bt10bn. It expects 3Q15 earnings to be good backed by high orders. It expects 2015 revenue to grow 10%. (Thun Hoon, 09/09/15)

BSM
BSM expects to expand to Australia, finalized within 1-2 months. A JV with KCM proceeds as planned. It expects 2H15 revenue to be good backed by Bt30mn from Myanmar and India. It expects 2015 revenue to achieve target of 20% growth. (Thun Hoon, 09/09/15)
Comment: Always liked this company, never liked its valuation.

DCON
DCON expects 2H15 revenue to be good aided by 16,000 foundation piles for EA’s solar farm and high demand from private power projects and public investment. It has budgeted Bt500mn to acquire land. (Thun Hoon, 09/09/15)
Comment: DCON’s price is returning back to earth as the news of the condominium recognition is well known in the market.

Continue reading Stocks in the news (banpu, brock, bsm, dcon, dtac, fire, gl, pjw, s, scc, scn, spa, t, takuni, ticon, tndt, tuf, umi) 09.08.15

Stocks in the news (bjchi, centel, cpall, cwt, dtac, kkc, mcot, ml, pae, pjw, pttgc, s, tcj, tcmc, tfd, trc, tuf, tvd, upa, ureka) 20.07.15

BJCHI
BJCHI expects 2Q15 earnings to be better than 1Q15 benefitting from FX gain. It expects 2H15 earnings to increase aided by backlog from Petrobras, worth Bt1.3bn and new projects from TUPI BV, valued at Bt5.4bn. It expects 2H15 net profit of Bt800mn. (ASTV, 20/07/15)
Comment: We do wonder aloud, weakening thb, which other export based or sectors/companies that rely upon Thailand being cheap for labour will benefit in the continued weakening of the THB? The same question of course goes for every other country in the region.

CENTEL
CENTEL expects to benefit from the baht depreciation as it will lead to an increase in tourists. Its average occupancy rate is 80% in 1H15 which is higher than 1H14. (Thun Hoon, 10/07/15)

CPALL
CPALL expects 2015 revenue to grow 11-12%. It expects water sales to grow 15% as people buy more water because of the drought. (Khao Hoon, 10/07/15)
Comment: Who else could in benefit from this? CPALL I’m finding interesting now because it looks like they will sell off part of their makro stake, to pay down their debt

CWT
CWT plans to set a Bt250mn plant in Cambodia for exports, expects this to start up in mid-2016. It targets 1mn capacity in 2019. (Khao Hoon, 10/07/15)

Continue reading Stocks in the news (bjchi, centel, cpall, cwt, dtac, kkc, mcot, ml, pae, pjw, pttgc, s, tcj, tcmc, tfd, trc, tuf, tvd, upa, ureka) 20.07.15

Stocks in the news (aq, arrow, bcp, beauty, css, drt, emc, erw, estar, gunkul, kkc, ktb, malee, match, mdx, mill, pjw, samart, sithai, tmb, uwc) 08.07.15

AQ
AQ says AQ Aria Asoke, valued at 1.6bn, sold out within 1 week after launch. It plans to launch new projects focused on single detached houses and townhomes. (Khao Hoon, 08/07/15)
Comment: Location is still the most important part of property regardless of the brand name, AQ has done a decent job getting its projects up and running but still worried re its valuaton

ARROW
ARROW expects 3Q15 earnings to mark a record high with 25% gross margin backed by implementing cost controls and stable materials cost. It expects 2015 revenue to achieve target. It expects to get Bt20mn from selling pipe for underground cable in 3Q15. (Thun Hoon, 08/07/15)
Comment: Arrow has been on such a run for the past few years, we do wonder aloud if they have the necessary capacity to match all the potential projects

BCP
BCP expects 2Q15 earnings to grow aided by refinery margin and stock gain. It targets power plant capacity of 200MW this year. (Khao Hoon, 08/07/15)
Comment: Just like every other industrial related co, they’ll have profits in 2q as a result of stock gains, 3q however now looks to be unfolding the other way

BEAUTY
BEAUTY plans to broaden its market to Indonesia, expected to be clear in 2H15. It expects 2015 revenue to increase 20% thanks to strong demand. (Thun Hoon, 08/07/15)

Continue reading Stocks in the news (aq, arrow, bcp, beauty, css, drt, emc, erw, estar, gunkul, kkc, ktb, malee, match, mdx, mill, pjw, samart, sithai, tmb, uwc) 08.07.15

Stocks in the news (ajd, arrow, brr, gc, genco, iec, jsp, pjw, qtc, sena, true, tuf, tvd) 27.05.15

AJD
AJD benefiting from 5.4mn digital TV coupons distributed by NBTC. It targets set-top box sales of 2mn with 50% revenue growth this year. (Khao Hoon, 27/05/15)
Comment: It is obvious with the carnage going on in digital TV that the coupon sales has been poor.

ARROW
ARROW says pipeline system business continues to trend up in 2H15 and the company plans market expansion to diversify revenue from both domestic and international. It targets 2015 revenue of Bt1.2bn (20% growth) with a gross margin of 23-25%. (ASTV, 27/05/15)
Comment: Their 1Q15 numbers were amazing.

BRR
BRR plans to invest Bt500mn to increase capacity by 22,000 tons/day and the third biomass power plant is its next investment. (Khao Hoon, 27/05/15)
Comment: Again the same story for any sugar company

GC
2Q15 profit expected to exceed 2Q14’s Bt934mn backed by increasing orders and introduction of new products. It expects 2015 sales growth of 10% YoY, benefitting from a larger customer base. The depreciation of the baht does not impact the company because it has a forward contract for FX. (Thun Hoon, 27/05/15)

Continue reading Stocks in the news (ajd, arrow, brr, gc, genco, iec, jsp, pjw, qtc, sena, true, tuf, tvd) 27.05.15

Stocks in the news (abc, aeonts, bcp, bkd, dcon, eastw, maco, npp, pjw, sena, tluxe, tpch, trt, true, tse, tsr, uniq, world) 27.04.15

ABC
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
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.

BCP
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
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

 

DCON
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.

EASTW
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.

MACO
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

NPP
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
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
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.

TLUXE
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
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
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)

TRUE
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.

TSE
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
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)

UNIQ
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)

WORLD
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)