Tag Archives: pylon

Commentary, Research, Stocks, Updates

Stocks in the news (bem, kbank, kce, ksl, lhk, mint, nch, pylon, ratch, sena, sgp, smpc, thana, tpch, wice) 25.08.16

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BEM
BEM will negotiate with the BMTA for the Blue Line extension job in September. It accepts that passengers on the Purple Line are not meeting its target and pulling down revenue by Bt0.8mn per month. The BMTA has approved a reduction in average passenger fare of 30% to Bt14-29 and expects this to boost passenger load by 30% from 20K. (Kao Hoon, 25/08/16)
KBANK
KBANK expects leading to rise on recovery of automotive market. It expects new loans of more than Bt75bn or growth of 35% to bring total loans to Bt93bn. It expects profit to be a new high at above target of Bt682mn. (Thun Hoon, 25/08/16)
KCE
A Japanese fund is interested in investing in KCE and expects to make a decision soon. It will spend Bt200mn to renovate its factory at Ayutthaya, with operations starting back up in 4Q16. It targets 2016 revenue growth of 10% from 2015, supported by more orders. (Thun Hoon, 25/08/16)
KSL
KSL targets 2016 revenue growth of 20% thanks to an increase in sugar price (2016-2017) of 30% to US$0.21/pound from US$0.15/pound last year. It plans to expand its sugar mill and is bidding for a PPA biomass power plant. (Thun Hoon, 25/08/16)
Comment: Just as with the comment for KTIS, could it be time for the sugar co’s to perform?

Continue reading Stocks in the news (bem, kbank, kce, ksl, lhk, mint, nch, pylon, ratch, sena, sgp, smpc, thana, tpch, wice) 25.08.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (gift, gl, gunkul, ilink, kce, ksl, malee, preb, pylon, sappe, sc, scc, tsr, tvt, uec) 13.07.16

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GIFT
GIFT is talking to a prospective partner to set up a subsidiary to operate in the power business with a 25% stake. It plans to expand to the utilities business with cash on hand of Bt230mn. It expects to list on the SET, with finalization in a month. It expects 2016 revenue to mark a record high with 10-15% growth. (Thun Hoon, 13/07/16)
Comment: This could explain yesterday’s stock price increase, no idea how a chemical distributor gets into this.
GL
GL got the license from OJK (Otoritas Jasa Keuangan) to provide financial services in Indonesia. It expects this to boost its sales and net profit. (Khao Hoon, 13/07/16)
Comment: We doubt that they’ll be as successful in Indonesia as they were in Cambodia, but this is still great nonetheless
 
GUNKUL
GUNKUL expects 2016 revenue to grow 30% from 2015’s Bt4.87bn. It does not worry about 2Q16 performance as it expects LED business to contribute revenue. It expects revenue to reach Bt300-400mn this year. It expects to take part in many alternative energy projects. (Thun Hoon, 13/07/16)
ILINK
ILINK expects to take part in four project bids, valued at Bt7bn. It expects the bid winners to be announced this year. It expects a Bt2.5bn MEA project to put up for bid on July 21. It expects to get all four projects. (Khao Hoon, 13/07/16)
Comment: And they still have the IPO of their subsidiary coming up

Continue reading Stocks in the news (gift, gl, gunkul, ilink, kce, ksl, malee, preb, pylon, sappe, sc, scc, tsr, tvt, uec) 13.07.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (centel, grand, hmpro, ktb, maco, oishi, pace, pylon, tluxe, tmi, uniq) 07.07.16

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CENTEL
CENTEL plans to take over Thai Foods brand. It targets 2016 revenue to grow at 10%, driven by healthy tourism. (Thun Hoon, 7/7/16)
GRAND
GRAND plans to take over a prestigious hotel in Thailand. It expects to see healthy 2Q16 earnings, driven by booking from Hyde Sukhumvit 11 and hotel businesses. (Thun Hoon, 7/7/16)
Comment: Still have our doubts on their ability to execute…
 
HMPRO
HMPRO expects to see outstanding 2Q16 earnings from Mega Home. It targets 2016 revenue to grow 10-15% from expanding portfolios and a slight change in business model. (Thun Hoon, 7/7/16)
KTB
KTB targets 2016 loans to grow 3-4% from SME and governmental lending. It expects 2Q16 NPL to deceleratedly increase. (Thun Hoon, 7/7/16)
MACO
MACO plans to be number one in the country in 2-3 years with market share more than 40%. It is expanding the business, negotiating for M&A. Its 2Q16 performance is expected to be healthy from advertising signs covering 77 provinces. (Thun Hoon, 7/7/16)
Comment: I’m fairly certain that they are already the largest in what is a very fragmented industry

Continue reading Stocks in the news (centel, grand, hmpro, ktb, maco, oishi, pace, pylon, tluxe, tmi, uniq) 07.07.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (chow, ivl, lpn, pylon, scn, spcg, susco, takuni, ticon, tpbi, tsr, tta, uac) 16.06.26

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CHOW
CHOW got EPC project from Primo energy for a 10MW solar farm. (FUKUI project, valued at Bt3bn.) (Khao Hoon, 16/06/16)
IVL
IVL plans to cooperate with Dhunseri, expects this to expand its PET market in India. It expects a decision to be finalized by 2016. It expects 2016 outlook to be good after its capacity reaches 9mn tons. It expects significant growth in 2016 net profit and revenue. (Thun Hoon, 16/06/16)
Comment: I’m looking forward to seeing what else they put in their 2Q16 numbers
 
LPN
LPN expects 2Q16 earnings to mark a record high. It expects 2H16 earnings to be better than 1H16 aided by Bt5bn in transfers and Bt5.8bn backlog. It expects 2016 sales to reach Bt17.6bn. It plans to launch 10-12 projects this year. (Khao Hoon, 16/06/16)
Comment: Well if 2Q is indeed the high, then it should be near THB 6 bn in revenues, otherwise they will have a tough time at matching last years revenue numbers 
 
PYLON
PYLON got a Bt150mn foundation project, expects to sign the contract soon. This raises its backlog to Bt750mn. It plans to take part in Bt2bn bids. It expects 2016 revenue to reach Bt1.2bn as targeted, backed by transfers. (Thun Hoon, 16/06/16)
SCN
SCN expects 2016 revenue to grow 40% thanks to higher demand for NGV. It is budgeting Bt1bn for business expansion. It expects a 5MW cooperative solar farm to start up by the end of this year. (Khao Hoon, 16/06/16)

Continue reading Stocks in the news (chow, ivl, lpn, pylon, scn, spcg, susco, takuni, ticon, tpbi, tsr, tta, uac) 16.06.26 →

Commentary, Research, Stocks, Updates

Stocks in the news (bwg, css, epg, ifec, inet, ivl, ori, pstc, ptg, pylon, ratch, richy, sim, tfg, tpoly) 31.05.16

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BWG
BWG expects 2Q16 net profit to be good backed by revenue from industrial waste management service. It expects 2H16 earnings to be good aided by 9.4MW power plant and RDF (Refuse-Derived Fuel). It expects 2016 net profit of Bt379mn and expects to grow 50% next year backed by its 2nd power plant. (Thun Hoon, 31/05/16)
Comment: And they are issuing warrant after warrant for this. I’ve always liked the idea of industrial waste management but it looks like the focus of the company has shifted to powerplants more and more.
 
CSS
CSS expects to book revenue from communication system projects of ADVANC and DTAC. It expects 2016 revenue to hit its target of Bt5.3bn. It plans to take part in bidding for 15MW solar cell. It plans to expand abroad. (Thun Hoon, 31/05/16)
Comment: A retail darling at one point, could it be time for part 2?
 
EPG
EPG reported FY2016 net profit of Bt1.413bn, up 123%YoY, driven by all three business segments. It will pay a dividend of Bt0.12/share, XD on Aug 2. (Khao Hoon, 31/05/16)
IFEC
IFEC expects 2Q16 net profit to back to the black from net loss in 1Q16 and higher than 2Q15 due to Bt700mn extra gain from debt restructuring at Dhara Dhevi. It expects Dhara Dhevi to exit from its rehabilitation plan in June and list on the SET in 2017. (Khao Hoon, 31/05/16)
Comment: Hmmm. Ok. A renewable hotel owner.

Continue reading Stocks in the news (bwg, css, epg, ifec, inet, ivl, ori, pstc, ptg, pylon, ratch, richy, sim, tfg, tpoly) 31.05.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (bdms, ihl, itd, nusa, pttep, ps, pylon, seafco) 22.04.16

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BDMS
BDMS sets 2018 revenue target to reach Bt100bn supported by foreign customers. In 2016, It budgets Bt6bn to renovate its hospital and buy medical equipment. (Khao Hoon, 22/04/16)
Comment: Given the way that Prasert continues to buyback shares in BDMS he must have a lot of faith in the business’ ability to grow from 70 bn today to 100 bn in 2 years.
 
IHL
IHL expands its business to high margin. It plans to open a protein factory to support revenue and expects this to be operational in June. It targets 2016 revenue of Bt2.5bn from Bt2.2bn in 2015 supported by more orders and new business. (Thun Hoon, 22/04/16)
Comment: Well if you believe in an automotive rebound and IHL’s ability to shift its product mix then sure.
 
ITD
ITD expects 2016 revenue of over Bt60bn and 2017 revenue of Bt130bn after getting a new job worth Bt200bn. It plans to deal with French investors to bid for the Pink and Yellow lines jointly. (Khao Hoon, 22/04/16)
NUSA
NUSA plans to expand its business to ASEAN. It plans to cooperate with partners to set up JVs as well as invest by itself. It expects to make a decision in 3Q16. It is confident that 2016 revenue will hit the target of Bt2bn, up from Bt1.2bn in 2015, supported by more pending transfers. (Thun Hoon, 22/04/16)

Continue reading Stocks in the news (bdms, ihl, itd, nusa, pttep, ps, pylon, seafco) 22.04.16 →

Commentary, Research, Special Events, Stocks

Infrastructure progress

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Maybank Kim Eng Thailand has these great updates on a weekly basis regarding the Infrastructure Investment, see below for a succinct summary.

Who benefits from this? Well the usual players, CK, STEC, UNIQ, ITD, maybe the smaller ones too hopefully, i.e. NWR, CNT, PYLON, etc…
Investment: Infra investments update
The Cabinet approved construction of a Yellow Line and a Pink Line. The government will now look at the bidding process to ensure it takes place within the next three months. The rail links are needed to reduce traffic congestion in Bangkok, which currently has three skytrain lines and one underground line.

Mass-transit routes in Greater Bangkok: Yellow Line (Lat Phrao-Samrong (a straddle-type monorail line)) (THB52b) (2016-2019 or earlier)
Funding: Some included in FY16 budget. The government will invest no more than THB20b, covering the land expropriation costs and many of the civil works. The private sector will invest in the remaining civil engineering projects, trains, operating systems, and maintenance services, under a 30-year concession.

Current status: Fast-tracking PPP project; feasibility study finished; EIA finished; approved by the PPP committee 29 Feb 2016; approved by the Cabinet 29 Mar 2016; international bidding and private participation selection by May 2016; construction to start in Jun 2016.

PPPs: Yes; construction and operation. The government will invest no more than THB20b, covering the land expropriation costs (THB6.01b) and many of the civil works; the private sector will invest in the remaining civil engineering projects, trains, operating systems, and maintenance services, under a 30-year concession; the private sector must take all risks – under the PPP Net Cost model – if the number of passengers is not as expected.

Distance: 30.4km. The daily ridership for is estimated at 247,900 person.

Continue reading Infrastructure progress →

Commentary, Research, Stocks, Updates

Stocks in the news (advanc, ah, ajd, bkd, ck, gold, loxley, mint, ptg, pylon, siri, tkt) 10.03.16

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ADVANC
AIS asked to review plan to use Jas spectrum for its 2G customers — THE NATIONAL Broadcasting and Telecommunications Commission (NBTC) yesterday asked Advanced Info Service (AIS)to review its plan to protect its 2G subscribers in the part related to Jas Mobile Broadband (JASMBB),citing that the existing plan could not be allowed. (The Nation, 10/3/16) AIS turns down True’s ‘hefty’ B450m payment call for 2G – Advanced Info Service (AIS) has rejected a proposal made by True Corporation for the company to pay what it terms a hefty spectrum fee payment in exchange for retaining its 2G customers on the 900-megahertz network for three months. (Bangkok Post, 10/3/16)
Comment: Again as stated yesterday, ADVANC does already have the deal with DTAC and they don’t need to partner w/ TRUE, especially at this silly high monthly rate

AH
AH sets 2016 revenue target growth 5% supported by recovery in the automotive industry. It plans to control costs and launch new products to bring 2016 net margin to above 2%. It has budgeted Bt400mn for investment. (Kao Hoon, 10/03/16)
Comment: I don’t remember the last time that this company actually met their targets

AJD
AJD and Alibaba will hold a press conference at the end of March. AJD is to partner with Alibaba as a reseller in Thailand. It targets 50,000 customers with revenue of Bt250mn in the first year. It expects to book profit from sales of its online top-up machine. (Kao Hoon, 10/03/16)

BKD
BKD ready to increase domestic and foreigner investment portion to enhance its image. It expects to get a job worth Bt3bn. It expects to get more than Bt300mn from the exercise of BKDW1. (Kao Hoon, 10/03/16)

CK
CK gets a new job worth more than Bt2.1bn after CKP’s board approved CK Laos to construct a substation. (Kao Hoon, 10/03/16)
Comment: With the government now saying they’ll fast track everything, all contractors are shooting upwards.

Continue reading Stocks in the news (advanc, ah, ajd, bkd, ck, gold, loxley, mint, ptg, pylon, siri, tkt) 10.03.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (ait, ecf, fpi, gfpt, glow, ifec, jwd, mcs, mtls, nok, pranda, pps, pylon, samco, scn, seafco, spa, tpch, tu, twz) 25.02.16

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AIT
AIT is talking to A prospective partner to provide data center service. It expects this to need Bt400mn capital investment. It plans to ask board approval in April. It plans to take part in Bt10bn public bids, of which it expects to get 40-50%. (Khao Hoon, 25/02/16)
Comment: They’ve come out saying a few times that they want to diversify away from being a project based company, and if the government is really adamant on these data centers then it just sounds like another great cash flow for those that are able to win these contracts

ECF
ECF reported 2015 net profit of Bt75mn. It will pay a dividend of Bt0.05/share, XD on April 19. It targets 2016 revenue of Bt1.5bn. (Khao Hoon, 25/02/16)

FPI
FPI targets 2016 revenue growth of 10% as the auto sector bottoms out. Its backlog is Bt600mn. It expects Bt300mn to be booked this year. It is talking to a partner to expand to India. (Khao Hoon, 25/02/16)
Comment: Haven’t they said that the deal in India was already completed?

GFPT
GFPT targets 2016 revenue to reach Bt16-18bn thanks to broiler price recovery and lower cost. (Thun Hoon, 25/02/16)
Comment: Well they have benefited from lower raw mat costs, the only question here is will the domestic price of chicken increase?

GLOW
GLOW’s board approved investing in Vietnam and Malaysia. Its 2015 net profit is Bt8.35bn. It will pay a dividend of Bt4.36/share, XD on April 29, PD on May 26. (Khao Hoon, 25/02/16)
Comment: Don’t be surprised to see GLOW continually offering special dividends every year

Continue reading Stocks in the news (ait, ecf, fpi, gfpt, glow, ifec, jwd, mcs, mtls, nok, pranda, pps, pylon, samco, scn, seafco, spa, tpch, tu, twz) 25.02.16 →

Commentary, Research, Stocks, Updates

Stocks in the news (asefa, bcp, big, bwg, fsmart, lhbank, malee, pca, pttep, ptg, pylon, siam, sr, tsf) 29.01.16

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ASEFA
ASEFA expects its new plant to run this February. This plant will raise its capacity by 50%. It plans to open five more after-sales service centers to handle upcoming large orders. (Thun Hoon, 29/01/16)
Comment: Well the question will turn to utilisation rates, its a new ipo, not much of a public market track record and we still have many questions about it.

BCP
BCP expects 2015 net profit to be over Bt4.1bn (500% growth) despite net loss of Bt99mn in 4Q15 from stock and impairment loss. (Khao Hoon, 29/01/16)

BIG
BIG targets 2016 revenue to grow 10% by offering photography services and solutions. It plans to provide another service, printing photos from mobile phones, targeting the youth. It plans to pay a dividend on its robust 2015 earnings. (Thun Hoon, 29/01/16)
Comment: They say that 1) Margins are stable 2) Growth comes from consumers actually wanting to use cameras and the change in consumer behaviour; I say 1) Ok 2) Don’t see it ccontinuing

BWG
BWG targets 2016 revenue growth of 10-15% backed by increasing waste income. It is working with EGAT to invest in a waste power plant. It plans to cooperate with IEAT to invest in IE for alternative energy, with a decision to be made by April. Foreign investors are interested in its shares via PP. (Khao Hoon, 29/01/16)
Comment: It would be interesting to see how this company develops….if everything they say is true then there could be a decent amount of upside available. No idea why they would need a PP give that their capital base seems solid

FSMART
FSMART targets 90,000 Boon-Term Top-Up machines by the end of this year. It expects these to contribute Bt21bn revenue in 2016. It expects to offers a new platform for its Top-Up machines to make them more user friendly. (Thun Hoon, 29/01/16)
Comment: Just amazeballs

Continue reading Stocks in the news (asefa, bcp, big, bwg, fsmart, lhbank, malee, pca, pttep, ptg, pylon, siam, sr, tsf) 29.01.16 →