Tag Archives: ppp

Stocks in the news (acap, akr, bkd, chg, gold, ivl, lit, lph, oishi, ppp, siri, spa, tfg, tipco, uac) 25.07.16

ACAP
ACAP plans to expand to Cambodia and Myanmar via subsidiary “Capital OK” and expects to conclude the deals this year. It targets loans to reach Bt3bn after reported 1H16 loans of Bt2.1bn. It plans to issue a new debenture worth Bt600mn in 4Q16. It expects to list a subsidiary on the SET. (Thun Hoon, 25/07/16)
Comment: It isn’t unimagineable to see Thai financial co’s to gain strong market share in Laos and Cambodia, Myanmar however, could be a tougher nut to crack
 
AKR
AKR expects 2016 revenue growth of 25% supported by outstanding 2H16 earnings. It expects 2016 earnings to be expanded by government projects such as mass transit lines, SEZ and property that will support demand. (Thun Hoon, 25/07/16)
BKD
BKD expects 2H16 to be good. It plans to bid for 2-3 new jobs worth Bt3bn, of which it expects to get Bt1.5bn. It has backlog of more than Bt1.7bn and expects to book this in 3Q16. (Khao Hoon, 25/07/16)
CHG
CHG spent Bt600mn to invest in Ruamphat Chacherngsao Hospital. Construction will begin this September and it will open in 2018. (Khao Hoon, 25/07/16)
GOLD
GOLD expects to report good earnings in 2Q16 in mid-August. Its presales hit Bt8.5bn for the first half of the year with Bt3bn backlog. (Khao Hoon, 25/07/16)
Comment: The story for this company is rather well covered, residential property sales with some offices and a REIT.
 
IVL
IVL expects 2Q16 net profit to reach Bt2.5bn driven by higher sales and higher spread between PTA and PET. (Thun Hoon, 25/07/16)
Comment: And another revaluation of an acquisition ?
 
LIT
LIT expects 2H16 earnings to be good from seasonality in 3Q16. It expects revenue, net profit, and loan portfolio to grow not less than 30%. It expects 2016 performance to mark a record high. (Thun Hoon, 25/07/16)

Continue reading Stocks in the news (acap, akr, bkd, chg, gold, ivl, lit, lph, oishi, ppp, siri, spa, tfg, tipco, uac) 25.07.16

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 (acap, ccp, centel, crane, forth, gl, irpc, lit, mjd, ppp, ps, sawad, smart, tasco) 07.01.16

ACAP
ACAP expects 2016 performance to turn around aided by recovery in every business. It expects its loan portfolio to reach Bt2bn this year. It expects 4Q15 earnings to be the best backed by business restructuring and its loan growth. (Thun Hoon, 07/01/16)
Comment: We do wonder what else the new shareholder is going to be doing with ACAP, it does have a decent balance sheet

CCP
CCP targets 2016 revenue of Bt2.6bn (from Bt2.4bn in 2015) with net margin of over 4%. It has budgeted Bt150mn to improve its machinery and increase capacity. Its backlog is Bt2.4bn. (Khao Hoon, 07/01/16)

CENTEL
CENTEL expects 2015 revenue to achieve target of Bt19bn, with more growth in 2016. It plans to expand both food and hotel businesses. It expects to get 8-10 hotel management contracts each year. It will hold a roadshow in Singapore this week. (Khao Hoon, 07/01/16)
Comment: Still a B-grade version of MINT but their hotel side will always continue to perform well.

CRANE
CRANE is budgeting Bt200mn to invest in new equipment. It expects 2016 revenue growth of 25% on the back of a boom in construction. It plans to take part in project bidding. (Thun Hoon, 07/01/16)
Comment: There’s always been hidden value in the CRANE and it’s been well known for monkey years.

Continue reading Stocks in the news (acap, ccp, centel, crane, forth, gl, irpc, lit, mjd, ppp, ps, sawad, smart, tasco) 07.01.16

Stocks in the news (Age, aira, beauty, bh, bsbsm, cpf, emc, hydro, mfec, mtls, preb, ppp, ps, samart, sena, stec, tipco, tmill, tpark, ttw, vibha) 01.10.15

AGE
AGE plans to implement cost control and focus on local industries especially those that have high demand for power. It expects local sales to grow 20% from 2014’s Bt3.58bn. Management expects 3Q15 earnings to recover thanks to cost control. It expects to show net profit in year. (Thun Hoon, 01/10/15)
AIRA
AIRA expects to show net profit in 2H15 from net loss in 1H15 of Bt37.8mn backed by the securities business. It plans to acquire other businesses to diversify (power business, leasing, insurance) which are expected to be clear in 2016. It has set up subsidiary “AIRA Property” to invest in rental business. (Thun Hoon, 01/10/15)
Comment: AIRA is continuing along its aim to become an investment holdco. 
BEAUTY
BEAUTY plans to increase its distribution channels. It targets revenue to grow 27-30% within three years. (Thun Hoon, 01/10/15)
Comment: It’s a business I just don’t understand, and I still don’t see where their competitive advantage comes from other than pure pricing. 
BH
BH plans to set up diagnosis centers in Cambodia, Laos, United Arab Emirates, and Qatar after Myanmar. It has budgeted Bt11bn to invest in a second hospital. It is confident 2015 revenue will grow 10% from 2014’s Bt16bn. (Thun Hoon, 01/10/15)
Comment: BH is expanding! A first since the Asian Financial Crisis. 

Continue reading Stocks in the news (Age, aira, beauty, bh, bsbsm, cpf, emc, hydro, mfec, mtls, preb, ppp, ps, samart, sena, stec, tipco, tmill, tpark, ttw, vibha) 01.10.15

Stocks in the news (ajd, bsm, cen, emc, dtac, hyrdo, jmt, l&e, mc, nyt, ppp, ptt, s, samart, sorkon, super, the, work) 21.07.15

AJD
Japanese investors are interested in AJD shares, talking with FA to do a takeover.Management is confident 2015 earnings will double, backed by increasing set-top box sales and booking revenue from two subsidiaries. (Thun Hoon, 21/07/15)

BSM
BSM expects to list subsidiary within two years. It is talking to a prospective partner to broaden its customer base. A JV with KCM is expected to be finalized in 3Q15. It targets 2015 revenue to grow 20% backed by a good performance in 2H15. (Thun Hoon, 21/07/15)

CEN
CEN plans to acquire DIMET shares through UWC, its subsidiary, by doing a tender offer priced at Bt3.6 per share. It expects this deal to increase customer base and revenue. (Thun Hoon, 21/07/15)
Comment: This acquisition is going through a few levels, I don’t quite see the value in CEN using UWC to buy DIMET which hasn’t performed well as a company for years.

EMC
EMC expects to sign contract for a Bt2bn BTS station project in 2H15. 2Q15 performance is expected to be positive from 1Q15 losses of Bt23.81mn aided by huge orders and property business. Management guarantees a turnaround performance this year. (Thun Hoon, 21/07/15)

Continue reading Stocks in the news (ajd, bsm, cen, emc, dtac, hyrdo, jmt, l&e, mc, nyt, ppp, ptt, s, samart, sorkon, super, the, work) 21.07.15

Stocks in the news (beauty, cgs, fpi, gfpt, match, mc, mk, pca, ppp, prin, rojna, rs, sam, spa, tipco, tta, upa) 23.06.15

BEAUTY
BEAUTY targets to maintain gross margin of 69%. It plans to introduce a new product in 3Q15. 2H15 is expected to be good thanks to seasonality. The plan to set up a distributor in Indonesia is expected to be finalized in 3Q15. It expects Bt1.7bn revenue from abroad this year. (Thun Hoon, 23/06/15)
Comment: Since templeton bought in, share price hasn’t gone anywhere, a sign of a peak perhaps? 

CGS
CGS is dealing with Neo & Partners Global, a Singapore partner to introduce a new innovation, DMA for investors who trade stocks and derivatives via the Internet. (Thun Hoon, 23/06/15)
Comment: Zzzz no impact on earnings.

FPI
FPI expects 2Q15 earnings to grow, backed by numerous orders and the baht depreciation. It targets 10% revenue growth in 2015. It plans to increase production utilization to 85% after warehouse is finished. (Khao Hoon, 23/06/15)

GFPT
GFPT is confident 2Q15 earnings will beat forecasts. It expects 5-10% export growth and 7-8% revenue growth this year. It plans to expand poultry farms in the second half of the year. (Khao Hoon, 23/06/15)
Comment: Still the best chicken co in town.

Continue reading Stocks in the news (beauty, cgs, fpi, gfpt, match, mc, mk, pca, ppp, prin, rojna, rs, sam, spa, tipco, tta, upa) 23.06.15

Stocks in the news (ah, aq, ba, bay, beauty, bjc, demco, gland, gunkul, hmpro, aco, mdx, mill, nncl, nov, aav, ppp, ptt, robins, sgp, tog, tsr, uwc, vgi) 16.03.15

AH
AH expects revenue to grow at least 10% this year. It will invest Bt400mn to upgrade its machinery. It is now discussing with business expansion with a potential partner. (Kao Hoon, 16/3/15)
Comment: It has been the worst performing auto manufacturing stock in the past 10 years in Thailand

AQ
AQ will expand more in residential property business, after cutting par to Bt0.5/share from Bt20/share and totally clearing all retained loss. In 2015, it will open nine new projects worth Bt8bn. It expects 2015 revenue to be Bt2.5bn. It plans to pay a dividend after turning to profit. (Thun Hoon, 16/3/15)
Comment: AQ still aims to be a turnaround story.

BA
BA targets revenue increase of 20% to Bt25bn this year, expecting higher revenue per seat after cutting promotions. BA has not benefited much from falling oil prices as it has a 60% hedge on fuel. (Krungthep Thurakij, 14/3/15)

BAY
BAY saw sluggish credit card spending in the first two months, 5% below its target. However, asset quality improved in 2M15 as a result of bonus season. (Krungthep Thurakij, 14/3/15)

Continue reading Stocks in the news (ah, aq, ba, bay, beauty, bjc, demco, gland, gunkul, hmpro, aco, mdx, mill, nncl, nov, aav, ppp, ptt, robins, sgp, tog, tsr, uwc, vgi) 16.03.15

Stocks in the news (ai, ba, brock, bts, n-park, gold, kland, jas, ppp, rich, rs, sam, smit, spa, susco) 06.10.14

AI
AI expects good 3Q14 net profit of Bt21.85mn due to a higher margin for its porcelain insulator business and no stock loss from the biodiesel business. Management expects revenue of Bt6bn in 2014 and aims to expand overseas. It hopes to obtain power plant construction of Bt1bn. (Thun Hoon, 07/10/14)
Comment: AI has been a strong performer over the past few years because of their expansion into biodiesel and what effectively is a monopoly in their industry for their core products

BA
Airline’s big hope in IPO – Privately-owned Bangkok Airways expects to raise up to Bt14bn in what will be one of Thailand’s largest initial public offerings (IPO). The anticipated proceeds would be 16.5% lower than the amount analysts speculated would be raised based on the expected Bt30/share versus a range of Bt23-27 officially announced yesterday. (Bangkok Post, 07/10/14)
Comment: It looks like appetite for this IPO is waning.

BROCK
BROCK expects higher profit in 3Q14 QoQ as demand for housing has recovered. The company expects revenue of Bt100mn in 2014 due to growing property market. Management said that BROCK will conclude the hotel construction deal with a Korean company in 2015. (Thun Hoon, 07/10/14)

Continue reading Stocks in the news (ai, ba, brock, bts, n-park, gold, kland, jas, ppp, rich, rs, sam, smit, spa, susco) 06.10.14

Stocks in the news (aec, pca, ppp, rs, thai, thre, umi) 23.06.14

AEC

Purchase of AAMC Asset Management approved — AEC says the shareholders approved the purchase of AAMC Asset Management Co., Ltd. It will take 90% for Bt28.12mn. The purchase is being made to expand the variety of the business it is engaged in and create growth opportunities. (Naew Na, 23/06/14)

Comment: The regulatory environment in Thailand requires all these silly licenses before any firm can manage funds on behalf of clients.

PCA

First day of trading. PCA is expected to close its IPO price of Bt2.8 to over Bt4. CEO Prapat says the company has strong fundamentals and high growth due to a fast change in technology. It expects revenue growth of 15-20% YoY and is ready to produce set-top boxes. (Khao Hoon, 23/06/14)

Comment: Well…it’s a small IPO, so the it’s the same story.

PPP

PPP has fundamental strength and low D/E, and is preparing to enter alternative energy. Suradej Boonyawatana aims to get into all forms of alternative energy and hopes to obtain a minimum of 30MW per deal in 2014. It expects to set up a joint venture with a foreigner to enter power plant business in Japan, Myanmar, and Laos. It says 2Q14 performance will be good and support 2014 revenue growth target of 10% YoY. It expects sharp growth in 2015. (Tun Hoon, 23/06/14)

Comment: This isn’t a surprise they had set up PP Wind Energy Co last year to explore this deal potential.

Continue reading Stocks in the news (aec, pca, ppp, rs, thai, thre, umi) 23.06.14

Stocks in the news (bmcl, noble, ppp, rs, seafco, wha) 05.09.13

BMCL – Purple Line deal agreed – BMCL expects construction of the Purple Line extension will be up and running 40 months from now, two years behind the original schedule of 2015. BMCL, which operates 20km of subway trains and 18 stations from Hua Lamphong to Bang Sue, yesterday signed a Bt82.6bn contract with the Mass Rapid Transit Authority of Thailand (MRTA) for the procurement, installation, operation and maintenance of the Purple Line. The route is expected to boost ridership by another 200,000 per day on the subway, which started in 2004. (Bangkok Post, 05/09/13)

Comment: We think this news has already been priced in for a while.

Noble plans return to single-house projects- The SET-listed developer Noble Development Plc plans to resume single-house development with a new project in northern Bangkok next year. Next year will also see Noble enter the low-end condo segment for the first time. It plans to launch a project in northern Bangkok with 700-800 units priced less than Bt2mn. On Sept 29, Noble will launch Noble Revolve Ratchada 2, a condo project worth Bt2.8bn with 755 units sized 22-50 square metres. Prices will range from Bt2.6-7mn or Bt130,000 per sqm. (Bangkok Post, 05/09/13)

Comment: Noble had caught the trend well for mid/high end condominiums in Bangkok over the past 5-6 years so to see them return to SDH’s is a surprise, perhaps even a positive one.

Continue reading Stocks in the news (bmcl, noble, ppp, rs, seafco, wha) 05.09.13