ACD has approved the acquisition of ordinary shares of Orin for Bt195mn, including one condo under development named Origins Bangmod-Rama2 which has already 85% in construction, expects to transfer and contribute revenue by this year. (Thun Hoon, 28/08/15)
Comment: Looks like a reverse IPO for Orin into ACD
AH expects revenue to stagnant this year because of a drop in auto production to 2mn cars. It expects 2H15 performance to improve backed by new orders. (Khao Hoon, 28/08/15)
Comment: It’s been a dog since they took over KPN’s automotive manufacturing business
AQ expects no impact from KTB case as the value of its collateral exceeds the Bt10bn awarded by the court. Management says it plans to open three new projects. (Thun Hoon, 28/08/15)
Comment: Quite the scandal here.
ASEFA expects 2H15 revenue to be better than 1H15. Its backlog is Bt1.5bn and Bt1bn is expected to be booked this year. It is confident 2015 revenue will achieve 20-25% target growth. (Khao Hoon, 28/08/15)
AP expects 2015 net profit to mark a record high of Bt25.3bn. It targets presales of Bt28.3bn and already has Bt18bn. It expects to launch 15 new projects throughout the rest of the year, worth Bt24bn. (Khao Hoon, 27/07/15)
Comment: Quite interesting that despite this economic malaise, AP is able to recognise revenue (the headlines are wrong) at such a high level.
BIGC reported 2Q15 earnings of Bt1.9bn (1.4% growth) backed by adding stores, marketing campaigns and cost control. (Khao Hoon, 27/07/15)
Comment: BIGC themselves admit that Thailand is no longer a growing retail market, it has all the hallmarks of a developed retail market and the only focus that they have is cost cutting cost cutting cost cutting.
BKD expects 2Q15 earnings to be robust (+279%YoY). It is ready for upcoming bids which are expected to raise its backlog to a record high. (Thun Hoon, 27/07/15)
Management says it expects 5-7% revenue growth for the next two years and expects profit to surge in 2018. (Post Today, 27/07/15)
ADVANC expected 1Q15 profit to rise YoY due to greater use of its data services. The company maintains its revenue growth (excluding interconnection fee) at 3-4% YoY in 2015 with new service in high-speed internet (1Gbps) called “AIS Fibre” to attract 100,000 users. (Khao Hoon, 28/04/15)
Comment: This could very well be the end of JAS, and TRUE is going to suffer as well.
Confirms start-up in June – AIE confirms its expansion of biodiesel to 900,000 liters/day will commence operations in June 2015. The company expects to close a deal with business partners soon. (Khao Hoon, 28/04/15)
Management expects sales revenue to rise 50% YoY in 2015 with profit to double YoY due to higher sales of its set-top box for digital TV. (Post Today, 28/04/15)
Comment: A quick look @ the numbers show that while yes there a lot of potential in the market because the set-top boxes penetration rates are still very low but distribution and the coupons scheme for it have been pathetic in its implementation.
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 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.
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 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
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.
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.
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
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 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 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.
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 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 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)
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.
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 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)
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)
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)
AQ plans to write off accumulated loss and is ready to start paying dividends if they can turn a profit in 2015. The firm has set a 2015 revenue target of B2.5bn and will go ahead with the launches of nine projects worth Bt8bn. (Kao Hoon, 25/02/15)
Comment: This is one turnaround story that I have my eye on, still a bit worried about the valuation at these levels though.
The power business will become the new growth engine in 2015 for BANPU as it begins to book revenue from Hongsa, which has capacity of 1,200MW. The board also named Somradee Chaimongkul as the new CEO to replace Chanin Wongsakulkit. (Kao Hoon, 25/02/15)
BCP sets five-year capex of Bt90bn over 2015-2019 to make it a fully integrated operator ranging from refinery to retail, as well as an alternative energy producer and oil production company. (Kao Hoon, 25/02/15)
BSM announced cash plus stock dividend at the ratio of 4 old shares to 1 new share, XD April 29. The firm expects revenue growth of 20% in 2015 due to a better economic condition. (Kao Hoon, 25/02/15)
Comment: Another company doing a stock dividend – reminds me of the beginning of 2013 when a lot of firms were issuing stock dividends, if even owners feel the market is a bit frothy shouldn’t we? I do like the owners of this business, its a nice little niche they’ve carved out for themselves.