BWG expects to win numerous waste disposal contracts after Department of Industrial Works vows to tighten its pollution control enforcement. Its 500MW PPA is expected to be finalized by 1Q16, leading to income turnaround going forward. BWG also plans to list its subsidiary, the Earth-Tech Environment co., ltd. (Thun Hoon, 21/01/16)
Comment: It’s quite interesting to see BWG’s turnaround over the past few quarters, from what was one poorly managed company they’ve somehow transitioned well to the waste to energy and waste disposal businesses (which are incredibly hard to break into…)
FORTH expects a big earnings jump in 2015 from Bt337mn the previous year, backed by numerous orders and its subsidiary. Bt900mn has been earmarked for an investment in Top Up machine which will be deployed at home and abroad. It plans to increase backlog from the current level of Bt300mn. (Thun Hoon, 21/01/16)
Comment: Again the real value in FORTH is FSMART
FSMART plans to partner with KBANK to provide money transfer service via Boon Term Top Up machine. It sets Bt600mn investment budget for the deployment of 25,000 additional Top Up machines this year, after installed 65,000 machines last year. It expects revenue and net profit to hit new high in 2015, followed by 30% growth in 2016. (Thun Hoon, 21/01/16)
Comment: They are continually finding more and more ways to add more value to their top-up machines, just a wonderful business model.
GUNKUL expects 2016 revenue of Bt6bn (25% growth) aided by 143MW power plant. It plans to kick start 1Q16 with additional 10MW. Company believes it has enough capital to expand its investment as planned. (Thun Hoon, 21/01/16)
Comment: So for now it looks like all of the capital increases are done.
ICHI targets 2016 revenue of Bt7.5bn on the back of cost control, market expansion, launching more marketing campaign and new products. 2015 revenue is a miss, registered only Bt6.4bn due to market slow down and increasing competition. (Khao Hoon, 21/01/16)
Comment: They have “missed” a lot since their ipo…
CHO expects to sign NGV bus contract, worth Bt1.735mn in mid-October. It expects to bid for more electric bus projects. It maintains 2015 revenue growth of 10% with Bt600bn backlog. (Khao Hoon, 28/09/15)
Comment: Again wonderfully positioned to benefit from this NGV bus , BUT post these sales earnings will decline to what they normally are.
CK says it is ready for upcoming mega projects valued at Bt200bn which is expected to be approved by the cabinet soon. It expects the M&A between BECL and BMCL to be done after the PPP Act has been approved. (Thun Hoon, 28/09/15)
Comment: Every contractor is loving these mega projects and in reality there isn’t a capacity constraint.
EGCO expects 2H5 earnings to be better than 1H15. It expects 2015 net profit to be close to 2014’s Bt7.7bn. It plans to construct more 6-7 projects, 1,700MW in capacity from the existing 3,700MW. It targets capacity of 5,000MW in 2019. (Khao Hoon, 28/06/15)
EFORL expects 2H15 to turn around on the back of large orders, decreasing cost, and extra gain from selling WCIH shares. It expects 2015 net profit of Bt255mn. (Khao Hoon, 28/09/15)
Vietnam government has approved AMATA investment in Amata City Long Thanh, valued at US$258mn. It expects this to open in 2017 and attract US$500mn in foreign investment intially. Management expects Chinese companies to set up plants in this industrial estate, with value reaching US$4bn within ten years. (Thun Hoon, 27/08/15)
Comment: Vietnam has a few things going for it in terms of FDI, American guilt from the war, China looking to control its southern “younger” brother, Korea and Japan looking for a cheaper manufacturing base.
CPF has budgeted Bt10bn for treasure stock of about 5.17% of its shares. It expects 2015 revenue to grow 10% from 2014’s Bt426bn aided by high orders from home and abroad. (Thun Hoon, 27/08/15)
Comment: Boom, another sharebuyback, and why? Simple its holding’s in CPALL effectively mean you’re buying CPF’s business for free
CSS expects stable growth in 2H15 thanks to the telecom business. It expects 2015 revenue of Bt4.8-5bn (20-25% growth). It has opened new offices and a warehouse, preparing for business expansion. (Khao Hoon, 27/08/15)
Comment: Digital economy beneficiary?
GCAP is looking for a business partner, expects to conclude a deal by the end of this year. It expects to get a nano-finance license soon and expects to lend in 2H15. It targets 2015 loans of Bt900mn with revenue close to last year’s Bt186.22mn. (Thun Hoon, 27/08/15)