Tag Archives: tru

Stocks in the news (advanc, bem, br, brr, ecf, egco, pstc, seafco, smt, tcmc, top, tru, tsr) 29.06.16

ADVANC
ADVANC made ITS first payment of Bt8.6bn with A Bt72.3bn bank guarantee for 900MHz. It expects to handle 2G clients before being shut down. It expects higher earnings from less expense of Bt4bn. (Khao Hoon, 29/06/16)
Comment: There’s a lot of analysts expecting 2Q16 to be the peak for ADVANC earnings for the next 2 years
 
BEM
BEM expects 2016 net profit of Bt2.1bn mainly driven by MRT. (Khao Hoon, 29/06/16)
BR
BR expects to revise down 2016 revenue target growth from 10-15% because of higher competition in Europe, and excess supply in Poland and Hungary. (Post Today, 29/06/16)
BRR
BRR expects an increase in revenue from biomass power plants from Bt19mn/month to Bt25mn/month after it changed from adder scheme to FiT scheme. (Khao Hoon, 29/06/16)
Comment: Completely forgot that some sugar companies will benefit somewhat from this as well.

Continue reading Stocks in the news (advanc, bem, br, brr, ecf, egco, pstc, seafco, smt, tcmc, top, tru, tsr) 29.06.16

Stocks in the news (advanc, dtac, gpsc, gunkul, jwd, kcm, kkp, lpn, nch, ptg, pttep, solar, spcg, top, tru, vng) 25.05.16

ADVANC
ADVANC has confirmed that it will be bidding for the 900MHz on May 27 with a bid of Bt75.65bn. (Kao Hoon, 25/5/16)
DTAC
DTAC unfazed by more 4G competition — The country’s second-largest mobile operator shrugged off increased competition from its rivals, saying that Advanced Info Service (AIS) and True Move will also face high licensing-based fourth-generation (4G) spectrum costs similar to DTAC’s. (Bangkok Post, 25/5/16)
GPSC
GPSC is confident that it will have IPP and SPP capacity of more than 1922MW and stream production of 1,582 tons/hour within 2019. ( Thun Hoon, 25/5/16)
GUNKUL
GUNKUL has backlog of Bt1.5-1.6bn. It expects to get more jobs to construct solar farms. It expects 2016 revenue growth of 20-30%. (Kao Hoon, 25/5/16)
Comment: Quite the drop in backlog for GUNKUL but because they already have invested and built/are completing their projects I don’t think management quite cares to focus on new projects .
 
JWD
JWD and JB TRADING are setting up a JV to develop a warehouse in Laos which has area of 3,200sqm and total cost of Bt75mn. It expects to finish and book revenue in 2017. (Kao Hoon, 25/5/16)

Continue reading Stocks in the news (advanc, dtac, gpsc, gunkul, jwd, kcm, kkp, lpn, nch, ptg, pttep, solar, spcg, top, tru, vng) 25.05.16

Stocks in the news (age, beauty, cpf, ea, jas, lpn, qtc, rml, sgp, spa, susco, tog, trc, tru, uac, wha) 26.01.16

AGE
AGE plans to invest in Vietnam this year to meet high demand. It has budgeted Bt40-50mn to invest in new plants after seeing substantial local orders. It expects to focus on SME segment. It expects 2016 revenue growth to achieve its target of 10-15%. (Thun Hoon, 26/01/16)
Comment: And they should be announcing something with UAC and QTC as well, the long dreamed about biomass project
BEAUTY
BEAUTY plans to expand to Indonesia and set up distributors in January. It expects to increase revenue from exports. It targets 2016 revenue of Bt2.1bn with net profit margin of 20%. It expects 4Q15 earnings to mark a record high. (Thun Hoon, 26/01/16)
CPF
CPF expects 4Q15 net profit of Bt2.08bn (+158%) backed by extra gains from sale of investment. It expects this to lift 2015 net profit to Bt11.59bn (10% growth). It expects to pay dividend of Bt0.45/share on 2H15 performance. (Khao Hoon, 26/01/16)
Comment: Will this be the year that this chicken company runs? Still prefer/trust GFPT instead
EA
EA has budgeted Bt30bn to invest in 386MW wind power plants to bring its total capacity to 664MW. It targets 2016 revenue of Bt13bn backed by sale of electricity. (Thun Hoon, 26/01/16)
Comment: Again its the same story, no surprises here
JAS
JAS reported 2015 net profit of Bt15.7bn mainly driven by Bt13.2bn extra gain from selling assets to JASIF. It plans to pay a cash dividend of Bt0.3/share, XD on Feb 25. (Thun Hoon, 26/01/16)

Continue reading Stocks in the news (age, beauty, cpf, ea, jas, lpn, qtc, rml, sgp, spa, susco, tog, trc, tru, uac, wha) 26.01.16

Stocks in the news (arrow, bjchi, cig, cwt, drt, eason, fsmart, jmt, kbank, modern, ndr, nwr, siam, siri, spa, t, trt, tru) 01.09.15

ARROW
ARROW expects net profit to reach new high over next three years. 2015 revenue is expected to achieve target growth of 20%. It expects no impact from the yuan devaluation. (Khao Hoon, 01/09/15)
Comment: And it’s still continue to grow strongly regardless of everything NOT happening in Thailand during the past 12 months
BJCHI
BJCHI expects to growth from adding to its customer base. Management expects 2015 revenue to grow at least 15%. It expects to get a Bt6.5bn job soon. (DBBNews, 01/09/15)
CIG
CIG expects 3Q15 earnings to rise from new products and more customers at home and overseas. It expects exports to comprise of 50% of revenue this year and rise to 80% next year. It backlog is Bt300mn which it expects to book in 2H15. (Thun Hoon, 01/09/15)
CWT
CWT expects to net profit in 3Q15 from 3Q14’s net loss of Bt1.55mn thanks to high demand and the baht depreciation. It expects 2015 revenue of Bt1.2bn on the back of transfers. Its backlog is Bt800mn and it expects to add more. It is talking about investing in a waste power plant and expects a decision to be made by 4Q15. (Thun Hoon, 01/09/15)

Continue reading Stocks in the news (arrow, bjchi, cig, cwt, drt, eason, fsmart, jmt, kbank, modern, ndr, nwr, siam, siri, spa, t, trt, tru) 01.09.15

Stocks in the news (aot, bec, centel, ci, dtc, epg, gc, jas, mlink, pca, samart, ttcl, tru, twz) 26.03.15

AOT
APPS moving forward – AOT’s board has approved the hiring of 2S Consortium to operate the Advance Passenger Processing System (APPS), an online passenger-information exchange system, to improve customs and immigration services and shorten entry time at airports. The consortium consists of Somapa Information Technology and Samart Comtech. AOT will charge Bt35/passenger and expects to start this system on October 1, 2015, applied only to passengers passing through Suvarnabhumi. (Daily News, Bangkok Post, 26/03/15)

BEC
BEC plans to raise ad rate this year after no rate hike for the past three years. However, it depends on how intense the competition from digital TV is. (Kao Hoon, 26/03/15)
Comment: BEC is still the number 1 channel operator in thailand today in terms of ad rates, but digital tv is definitely going to be an issue for them with the increased competition

CENTEL
CENTEL expects Bt20bn revenues this year (from Bt18bn last year). 1Q15 earnings should be strong from high occupancy rate. The company is studying JVs in Myanmar and Sri Lanka. (Thun Hoon, 26/03/15)

Comment: Still is and forever will be a B grade, no wait C grade version of MINT

Continue reading Stocks in the news (aot, bec, centel, ci, dtc, epg, gc, jas, mlink, pca, samart, ttcl, tru, twz) 26.03.15

Stocks in the news (aav, ajd, cbg, cgh, dcon, erw, hmpro, pace, pttgc, rs, s, samart, sappe, sat, tk, tru) 26.02.15

AAV
AAV’s net profit was Bt183mn in 2014, down 82% YoY, dragged down by weak operations in 1H14 from the political unrest. (Kao Hoon, 26/02/15)
Thai AirAsia will open new route Bangkok-Burirum on April 2, its eighth route into the northeast of Thailand. Thai AirAsia will then cover all major cities in the northeast. It expects a high load factor at more than 80% for this route. (Krungthep Thurakij, 26/02/15)

AJD
AJD operations turned around with Bt100mn profit in 2014 backed by revenue from sale of set-top boxes. The company announced a par split to Bt0.1/share (from Bt1.0/share) and expects revenue to double this year. (Kao Hoon, 26/02/15)

CBG
CBG will invest Bt400mn to expand capacity to serve more orders from new clients. The company will expand in ASEAN and targets export sales to hit 50% of total sales in 2018. In 2015, it expects revenue growth of 20% YoY. (Thun Hoon, 26/02/15)
Comment: The company believes that it can do very well in Cambodia/Myanmar/Laos with its single product. I have my doubts on the distribution capabilities but am curious to see what happens.

Continue reading Stocks in the news (aav, ajd, cbg, cgh, dcon, erw, hmpro, pace, pttgc, rs, s, samart, sappe, sat, tk, tru) 26.02.15

Indonesia Seen Beating Thailand in Auto Sales

Indonesia has a wonderful problem when compared to Thailand they can invest and invest and experience a huge growth in the automotive sector, similar to what Thailand has had in the past decade. Once their infrastructure  is completed and on an acceptable level for automotive manufacturers to invest and for the automotive eco-system to exist there as it does in Thailand, then Thailand can worry, but that may be another…10 years away. So when I see that Indonesian sales are doing well I can actually spin this positively as the majority of car parts for Indonesian are manufactured in Thailand, so for now NYT, AH, STANLY, SAT can all relax.

Indonesian sales will total about 1.2 million in 2014, versus 1 million in Thailand, said Tim Zimmerman, the Singapore-based president of Southeast Asia operations for General Motors Co., the world’s second-biggest carmaker. Vehicle sales in Indonesia rose 6.6 percent in the first half, while they slumped 40 percent in Thailand, according to data compiled by Bloomberg.

bloomberg-car

Source: Bloomberg

Stocks in the news (bgh, cpn, robins, ccp, css, jmt, nok, oishi, ptg, samco, ssi, ticon, trt, tru, ttcl) 29.05.14

BGH

Buys new hospital in Nakorn Pathom — BGH has announced the acquisition of Sanamchan Hospital, a 198-bed private hospital in Nakorn Pathom, plus its two hospitals. The investment cost is Bt3.66bnn (SET)

Comment: And the growth machine for BGH continues, still think it can comfortably go to THB 20/share, just wait for the day it does REITs 

CPN/ROBINS

Central Group pins hope on mid-year sales bonanza – Four business units under the Central Group of Companies have come together to stimulate consumers’ purchasing power during the mid-year period and attract more tourists. Central Department Store Plc, Central shopping complexes, Robinson Department Store Plc and The 1 Card will allocate Bt400mn to launch the Greatest Grand Sale from June 6-July 15 at 53 shopping centers and department stores nationwide. (Bangkok Post, 29/05/14)

CCP

CCP expects new high performance in 2014, continuing from 2013, because political problems are easing. It expects more investment in the public sector and more new work. It maintains revenue growth target of 10% YoY and has backlog of Bt1.86bn. It is negotiating for a joint venture. (Khao Hoon, 29/05/14)

Continue reading Stocks in the news (bgh, cpn, robins, ccp, css, jmt, nok, oishi, ptg, samco, ssi, ticon, trt, tru, ttcl) 29.05.14

Random Thoughts: Ze Germans are coming!

So the automotive industry in Thailand is dying?

Well the largest automotive car maker in Europe, Volkswagen, has recently applied to set up its first plant in Thailnd under the government scheme that requires car makers to invest at least THB 6.5 bn and that annual production must reach 100,000 cars in the fourth year (not later than 2019) once operations commence.

The simple fact remains that Thailand has a domestic appetite for cars of 1 million cars per year, that could comfortably grow over the next decade to 2 million cars/year and despite all this political rubbish, it would be crazy for any automanufacturer to miss out on this market.

vw

Following on from this the shipment of car parts for Thailand last year grew by +6% to USD 12 bn and is still expected to grow by another 10% this year.

Now in all of ASEAN, there were 4.4 million cars produced in 2013, Thailand represents just over 50% with 2.4 million cars manufactured last year

The Eco-Car Phase II attracted a helluva lot of interest, there were 10 car makers (5 existing ones) that applied for this and that equates to THB 139 bn worth of potential investments.

As of Feb ’14, the 5 existing eco car manufacturers produced 800,000 eco-cars, of which only 20,000 units were for domestic sale and the rest export, this second phase will result in an additional 500,000 vehicles manufactured in the next few years (because as with Volkwagens case, the BOI requires automakers to produce 100,000 units/year by the fourth year of operations)

So who benefits from all this?

Manufacturers: SAT, STANLY, TRU, AH

Others: IHL, NYT

Industrial real estate: TICON, WHA, HEMRAJ, AMATA, RJANA

I’m sure I’ve forgotten one or two others, as there are several other businesses that gain from the continued growth in automanufacturers ranging from petrochemical suppliers, plastic suppliers, utility providers and so forth. And again, the fact remains that Thailand has a large domestic demand for autos, thanks to the Japanese there is already a massive automotive cluster (from manufacturers to suppliers) that exist in Thailand today that car makers can plug into. I’m not worried about the automotive sector for Thailand for the next 5 years at all.

Continue reading Random Thoughts: Ze Germans are coming!

Co Visit: TRU Plc

Niche focus keeps Thai Rung Union Car rolling ahead of its competitors

Thai Rung Union Car Plc (TRU), a Thai-owned company established in 1967 and listed on the Stock Exchange of Thailand in 1994, is a leading automotive industry operator that offers fully integrated services from product design and development to production of various kinds of vehicles, including its own niche specialty vehicles, and after-sales service. Its customers are leading US and Japanese automotive, industrial machinery and motorcycle manufacturers. Managing director Sompong Phaoenchoke discusses the company’s strategy and outlook.

tru

Managing director Sompong Phaoenchoke shows off the TR Transformer, for which the company sees good potential in provincial markets in Thailand.

What is your business model?

TRU has always focused on product design and development through the production of dies and jigs and the manufacturing of metal and plastic automotive parts, seats, and modification of multi-purpose and specialty vehicles. Continue reading Co Visit: TRU Plc