Tag Archives: qh

Stocks in the news (bjchi, ck, crane, css, fpi, gland, gpsc, itd, jmart, kwg, loxley, mill, nok, nyt, pps, qh, sf, trt tse) 22.08.16

BJCHI
BJCHI expects to get a new job worth Bt10bn to add to its backlog of Bt3.1bn. It plans to expand to a new market. It expects 2016 revenue to grow 15% from Bt5.75bn last year supported by backlog awaiting booking. (Thun Hoon, 22/08/16)
Comment: Regardless of the oil price decline BJCHI still seems to somehow continue winning projects
CK
CK expects 3Q16 to be good as it will book backlog. It plans to bid for big government projects such as Orange Line worth Bt300bn and expects to get 20-25% of its bids. (Thun Hoon, 22/08/16)
CRANE
CRANE got the job of managing Trang port and providing service for cranes. It expects to book revenue of Bt30-50mn this year. It expects a lower net loss this year because of higher demand from public investment. (Khao Hoon, 22/08/16)
CSS
CSS expects 3Q16 to be good as it expects to get jobs in Suvarnabhumi Phase 2 and from BTS. This will add to its backlog of Bt1.3bn; it also expects revenue from its subsidiaries. It is confident that 2016 revenue will hit target of Bt5bn with revenue of Bt10bn over the next three to five years. (Thun Hoon, 22/08/16)
FPI
FPI is confident that 2H16 earnings will grow strongly and add to profit, supported by a weak baht, low oil price and low plastics prices. It plans to increase painting capacity by 35% in September to support OEM orders. It expects revenue growth of at least 10%. The board approved an interim dividend of Bt0.06/share, XD on Sep 9. (Thun Hoon, 22/08/16)
GLAND
GLAND plans to invest in office building for rent (The Super Tower), valued at Bt18bn in 2017. It believes this will bolster revenue. It expects to book revenue from leasable area at G Tower in 3Q16 after occupancy rate reached 70%. (Khao Hoon, 22/08/16)
Comment: Still part of the longterm master plan, we do suspect a REIT will be announced in due course given the need for capital

Continue reading Stocks in the news (bjchi, ck, crane, css, fpi, gland, gpsc, itd, jmart, kwg, loxley, mill, nok, nyt, pps, qh, sf, trt tse) 22.08.16

Stocks in the news (ap, arrow, bem, cpn, eason, global, jmt, lhbank, ptt, qh, smm, trc) 23.06.16

AP
AP reports presales of Bt10.5bn for the first five months of the year. It plans to launch 13 projects in 2H16, valued at Bt25.3bn. It targets 2016 presales of Bt31bn with revenue of Bt23.7bn backed by Bt14.7bn backlog. (Khao Hoon, 23/06/16)
ARROW
ARROW expects to get 60% market share because of its strength. It is confident it has potential to handle mega projects. It expects to get large orders from MRT, Suvarnabhumi Phase 2, moving cable to underground, motorway, and private projects. It expects 2016 net profit to mark a record high of Bt300mn, up 22.1%. (Thun Hoon, 23/06/16)
Comment: Their stock price has been declining in the past few months despite the continued growth. 
 
BEM
BEM expects to open Sri Rat outer ring road by August. It expects 97,000 cars/day. It expects this to increase revenue by Bt1.7bn. (Thun Hoon, 23/06/16)
Comment: Just have to love oligopolies
 
CPN
CPN expects 2016-2017 net profit to grow 18-20% aided by opening a new shopping mall and increasing rental and occupancy rate. It expects 2016 net profit of Bt9.49bn. (Khao Hoon, 23/06/16)
Comment: And they’ll have a kicker with condominiums

Continue reading Stocks in the news (ap, arrow, bem, cpn, eason, global, jmt, lhbank, ptt, qh, smm, trc) 23.06.16

Stocks in the news (eastw, gold, gpsc, kool, nwr, pttep, qh, qtc, uac, sc, siri, smt, thana, top, yuasa) 19.04.16

EASTW
EASTW expects 2Q16 net profit to be peak because of seasonality. It expects 2016 revenue to grow 5% from 2015’s Bt4.65bn brought by continuous demand growth. It plans to list its subsidiary by 4Q16. (Thun Hoon, 19/04/16)
Comment: We’ve been waiting for this UU IPO for quite a while now.
GOLD
GOLD is talking to a prospective partner to invest in property business abroad, with a decision to be made within next year. It targets 2016 revenue of Bt9.77bn driven by transfers. (Thun Hoon, 19/04/16)
GPSC
GPSC expects 1Q16 earnings to be above Bt600mn (+28%YoY, +117%QoQ) mainly driven by Bt180mn dividend from subsidiary RPCL. (Thun Hoon, 19/04/16)
KOOL
KOOL targets 2016 revenue to grow 40% on the back of a marketing campaign and higher sales because of the high temperatures. (Bangkokbiznews, 19/04/16)
NWR
NWR expects to sign contract for motorway (Bang Pa-In – Korat) valued at Bt2.5bn soon. It plans to take part in Bt30bn in bids. It is studying investing in new business which is expected to raise revenue in 2017. (Khao Hoon, 19/04/16)
Comment: The issue here is that they can’t do more than what their balance sheet permits despite their best efforts

Continue reading Stocks in the news (eastw, gold, gpsc, kool, nwr, pttep, qh, qtc, uac, sc, siri, smt, thana, top, yuasa) 19.04.16

Stocks in the news (amata, aot, bmcl, cho, hmpro, kkp, ktb, plat, qh, qtc, stpi, ttw, vih, wha) 27.11.15

AMATA
AMATA expects 4Q15 revenue to be healthy even though it cannot reach the target of selling 1000 rai of land this year. It has sold only 493 rai of land in 9 months. (Thun Hoon, 27/11/15)
Comment: It’s the usual cycle for industrial estates in Thailand.

AOT
AOT expects 4Q15 profit of at least Bt3.2bn (51% growth). It expects revenue for the whole of this year to be Bt17bn backed by peak season. (Thun Hoon, 27/11/15)

BMCL
BMCL expects the cabinet to approve the M&A with BECL on December 8. (Khao Hoon, 27/11/15)

CHO
CHO expects to gain revenue from an 11-year project. Next year it will focus on maintenance services and expects to get a project worth Bt400mn. (Thun Hoon, 27/11/15)
Comment: If it is similar to their Tesco contract then its a steady cash flow generator for the firm

Continue reading Stocks in the news (amata, aot, bmcl, cho, hmpro, kkp, ktb, plat, qh, qtc, stpi, ttw, vih, wha) 27.11.15

Stocks in the news (22.10.15)

Names today: AIT, ILINK, BKD, CHOW, DELTA, DEMCO, EASTW, EPCO, FORTH, LIT, MCS, QH, SAMCO, SUSCO

AIT
AIT cooperating with ILINK to invest in a data center. It has got a Bt600mn job which is expected to start up in 2016. It expects this to boost performance next year. It expects 2015 revenue of Bt5.2bn with Bt3.2bn work on hand. (Thun Hoon, 22/10/15)
Comment: Quite clever that these two firms are going to work together with the data center’s.

BKD
BKD expects 2016 revenue to be good on the back of Bt2.7bn backlog. It expects 2015 revenue of Bt1.3bn. (Khao Hoon, 22/10/15)

CHOW
CHOW expects 2016 net profit of Bt350mn. It plans to list its subsidiary soon. 3Q15 performance is expected to grow from 2Q15 because of numerous orders and revenue contribution from solar farm in Japan. (Thun Hoon, 22/10/15)
Comment: The expansion to Japan is will begin full contribution next year, and I am curious to see how the Thai firms GUNKUL and CHOW deal with the currency fluctuation.

DELTA
Hong Kong investors are interested in DELTA shares because of its strong fundamentals and good financial status. It expects this deal to be finalized soon. It expects 2015 revenue to grow 5-10% from 2014’s Bt45bn backed by high demand and the weaker bath. (Thun Hoon, 22/10/15)

Continue reading Stocks in the news (22.10.15)

Random Thoughts – Philippines, markets, share buybacks

  • The Philippines would be a bankrupt country if it weren’t for 2 factors 1) The 2-3 million overseas Philippino’s sending their money back home (OFW’s) to support their families – according to the Philippines Statistics Office*, Overseas Filipino Workers During Six Months Prior to the 2013 Survey by Area, transferred 163 billion pesos, that is ~USD 3.6 bn within 6 months, an amazing number, and strangely other studies that estimate some USD 25bn was remitted back to the Philippines in 2014**, this all translates into consumer spending, real estate purchases and so forth. 2) BPO’s – This industry makes ~USD 17 bn p.a. revenues, has been growing @ ~20% p.a. for the past 7 years, allows people a higher average salary than was previously available and is on track to overtaking India – again this leads to more consumer spending than previously existed 10 years. Now if weren’t for these 2 factors I would have serious doubts about ever investing there b/c 1) Their government has little control of anything (utilities, infrastructure, etc etc are all under the control of private entities) 2) As a physical location, to be a manufacturing hub is close to impossible, plus the fact it is made up of 7,000 islands makes doing any type of business rather difficult. 3) ~80% of the market capitalisation is dominated by ~6-7 families. However despite all of these negatives, just like anywhere in the world, you can find some wonderful ideas to invest in over there, and there are some amazingly well run enterprises, just look at URC and BDO as simple large cap examples.
  • Volatility has returned, well if you had closed your eyes for the past 1.5 weeks, then nothing much has really changed other than energy bouncing back a little bit, going forward what can we expect? More volatility? A year end rally? A potential fed rate increase? Fun times ahead.
  • CPF announced a huge buyback – because it’s holding in CPALL is equal to its existing market cap, PTTGC has announced a huge buyback, analysts are now writing that QH is trading at its holding’s value thus you’re getting its business for free, which other companies could do the same? I’d start looking at which companies begun buying back shares in 2009 and see if those names are trading at levels that would entice management/boards/majority shareholders to propose the same

Source: * PSA, ** HKDC

Stocks in the news (advanc, bcp, ccp, ckp, cpn, css, drt, dtac, gunkul, hmpro, ifec, irpc, ivl, mtls, ocean, qh, sgp, singer, snc, spcg) 11.08.15

ADVANC
ADVANC is talking to TOT to become a business partner; it expects this to be finalized in August. ADVANC is ready to bid for both 1800 and 900 spectra in the 4G auction. It plans to expand its market in 2H15. It targets 2015 revenue growth of 3%. (Khao Hoon, 11/08/15)

BCP
BCP targets run at rate of 110,000 bpd despite the fall in oil price. It targets 2014 EBITDA of Bt10.4bn as it achieved 72% of its target in 1H15. (ASTV, 11/08/15)

CCP
CCP’s backlog is Bt2.3bn and it expects to bid for more, especially local government jobs and private projects. It expects 2015 revenue to be close to 2014 Bt2.6bn. It expects to benefit from dual track and high speed train projects. (Thun Hoon, 11/08/15)
Comment: Another beneficiary from the potential infrastructure projects

CKP
CKP has accelerated construction of Bang-Pa-In and Xayaburi hydroelectric power plants. It expects 2Q15 earnings of Bt131.02mn compared to 2Q14’s Bt35.38mn. (Thun Hoon, 11/08/15)
Comment: We still believe that its fairly priced despite all this earnings growth, there’s nothing really new to report from this co for the time being

Continue reading Stocks in the news (advanc, bcp, ccp, ckp, cpn, css, drt, dtac, gunkul, hmpro, ifec, irpc, ivl, mtls, ocean, qh, sgp, singer, snc, spcg) 11.08.15

Stocks in the news (ais, ait, beauty, css, emc, forth, genco, hmpro, ivl, itd, mdx, nbc, nlc, pstc, pttgc, qh, scn, sgp, smart, spcg, tfd, thai, thcom) 10.08.15

AIS
AIS pushes for joint venture with TOT, Mobile leader wants to rent telecom towers – Mobile leader Advanced Info Service Plc (AIS) has submitted a joint-venture proposal to TOT Plc to operate telecom tower sites after its mutual second-generation (2G) mobile concession expires next month. (Bangkok Post, 10/8/15)
Comment: Well they need it given the expiration of its concessions and in the case that 4G may (or not) be postponed

AIT
2Q15 earnings dropped 13%QoQ and 56%YoY hit by decreasing backlog and inefficient cost control. It plans to pay an interim dividend of Bt0.55/share. (ASTV, 10/08/15)
Comment: AIT – once a darling, it’s being hurt along with anyone else that relies upon government projects for their revenues, but it doesn’t change the fact that once the government becomes operational AIT will be a major beneficiary given the continued investment in IT by Thailand.

BEAUTY
BEAUTY expects 2Q15 earnings of Bt61mn. Its CEO says 2015 revenue will achieve 20% target growth backed by high demand locally and overseas. (Thun Hoon, 10/08/15)

CSS
CSS’ board has approved an interim dividend of Bt0.1/share, XD on Aug 21, PD on Sep 7. It reported 2Q15 earnings of Bt68mn (+44.92%YoY). 1H15 net profit was Bt131mn (96% growth). (Khao Hoon, 10/08/15)

Continue reading Stocks in the news (ais, ait, beauty, css, emc, forth, genco, hmpro, ivl, itd, mdx, nbc, nlc, pstc, pttgc, qh, scn, sgp, smart, spcg, tfd, thai, thcom) 10.08.15

Stocks in the news (advanc, aira, ajd, anan, bjchi, dcc, epg, gunkul, kbank, kkc, mono, perm, qh, ptt, rs, ticon, tndt, true, uniq, uwc, work) 03.08.15

ADVANC
ADVANC expects to report 2Q15 net profit of Bt9.1bn which will raise 1H15 earnings to Bt19bn. It expects to pay an interim dividend of Bt6.57/share (2.8% yield). It expects to gain benefit from the 4G auction that will be held before the end of this year. (Khao Hoon, 03/08/15)
Comment: Perhaps still the only decent telecom player in Thailand given how DTAC has fallen by the wayside

AIRA
AIRA is talking to prospective partner and targets to have 12 subsidiaries in 2020 from six now to increase its profit growth. It expects to diversify to property business for regular income. It plans to list subsidiary AIRA Propery” next year. It is confident 2017 revenue will grow significantly aided by higher revenue from its subsidiaries. (BangkokBiznews, 03/08/15)
Comment: AIRA is trying its damnest to be a mini financial conglomerate with the securities, lending, leasing, property businesses

AJD
AJD expects to report to the SET today of the signing of an MoU with YTO Express to set up a new company to undertake the logistic business. (Khao Hoon, 03/08/15)

ANAN
Japanese investors are interested in becoming business partners to ANAN in view of its strong fundamentals. It expects 2015 revenue will achieve target of Bt11bn aided by transfers. It plans to invest Bt17.8bn in new projects which is expected to lift its backlog to Bt34bn. (Thun Hoon, 03/08/15)
Comment: I’ve heard about this since last year, naturally the first name should be its existing JV partner

Continue reading Stocks in the news (advanc, aira, ajd, anan, bjchi, dcc, epg, gunkul, kbank, kkc, mono, perm, qh, ptt, rs, ticon, tndt, true, uniq, uwc, work) 03.08.15

Stocks in the news (advanc, amata, becl, bmcl, fsmart, beauty, hft, ilink, irpc, lanna, lh, loxley, ml, ple, ptg, ptt, ratch, qh, synex, ttw, wave, work) 25.06.15

ADVANC
ADVANC says 2Q15 profit is expected to grow to Bt9.1bn (+7%), with 1H15 growth of 6% to Bt19bn. It expects to pay interim dividend of Bt6.54/share, higher than last year’s Bt6.04/ share. (Khao Hoon, 25/06/15)
Comment: Analysts have now begun downgrading ADVANC’s potential profit growth for this year and next, but its still a good dividend payer

AMATA
AMATA is confident there is no impact from the drought. It says both its industrial estates have good water management. (Khao Hoon, 25/06/15)

BECL/BMCL
MOT tells EXAT to study the merger between BECL and BMCL to ascertain if it would be against the concession. This will be considered at the board meeting on July 14. (Khao Hoon, 25/06/15)
Comment: We doubt that there would be any negative impact here.

FSMART/BEAUTY
FSMART signed a contract with BEAUTY to invest in E-Commerce. It plans to set up 1,000 coin-operated scales and expects each one to contribute Bt500 per month. (Thun Hoon, 25/06/15)
Comment: Well, depends a lot on the revenue-sharing here.

Continue reading Stocks in the news (advanc, amata, becl, bmcl, fsmart, beauty, hft, ilink, irpc, lanna, lh, loxley, ml, ple, ptg, ptt, ratch, qh, synex, ttw, wave, work) 25.06.15