Several brokers sending this out this AM
FTSE Global Equity Index Series Asia Pacific ex Japan Regional Index and Japan Regional Index Semi-Annual Review.
Constituent changes can be accessed via the attachments below. The changes will be effective after the close of business on Friday, 16 September 2016 (i.e. on Monday, 19 September 2016).
Inclusion: SCC-R, KBANK-R
Inclusion: GPSC, VIBHA, IMPACT
Exclusion: BEM, THRE
Inclusion: SCC-R, KBANK-R
Inclusion: SCC-R, KBANK-R, GPSC, VIBHA, IMPACT
Hospital stocks in Thailand are now trading at nosebleed levels with the sector average at ~50x PE, but what I’ve learnt from the past, just because a company has a high PE doesn’t mean you should ignore it if the compounded growth potential is there. Here are some snippets and the link to the rest of the article
That’s clouding the outlook for Thailand’s health-care shares, which surged more than 800 percent over the past seven years, as valuations start to look stretched amid the falling demand. Bangkok’s Bumrungrad Hospital Plc, known as the grandaddy of international clinics, has slumped 16 percent since early March after patient volumes from the United Arab Emirates, its second-biggest source of overseas visitors, fell 20 percent in the first quarter.
Sitting at the apex of the industry is Bumrungrad, which attracts more than half a million foreign patients a year and has a network of 32 referral offices everywhere from Mongolia to Ethiopia. Sixty-seven percent of revenue came from overseas visitors last quarter, company figures show. Myanmar residents were the biggest source, accounting for 8.4 percent of total patients, followed by 8.3 percent from the U.A.E. and 5.9 percent from Oman
BWG plans to expand waste power plants by 50MW. It targets 100MW within five years. It expects 2016 revenue to be good backed by Bt100-200mn revenue from selling electricity, beginning in 3Q16. It plans to list its subsidiary. (Thun Hoon, 15/12/15)
Comment: They do seem to have a lot of momentum behind over the past few years. I do remember a decade ago BWG had several issues w/ environmentalists and local residents but it seems to have been able to move on.
ILINK expects to get projects from ADVANC, DTAC and TRUE (rental of fiber optic cable). It expects 2015 revenue to be higher than Bt3bn and expects to grow significantly next year. It expects to get Bt10bn new projects. (Thun Hoon, 15/12/15)
Comment: ILINK’s stock, like several others, just collapsed in the last 2 weeks but there are still going to benefit from all this IT expansion that Thailand has.
IRPC expects UHV project to start up in 2Q16. It expects this to increase its refinery efficiency. It is talking to PTTGC about an M&A. (Khao Hoon, 15/12/15)
KSL expects 2016 revenue growth of 5-10% backed by increase in sugar cane production from 8.6mn tons to 9mn tons. It expects sugar price to be stable at US$0.14-0.15/lb. It plans to invest in the power business with TSE. It has budgeted Bt800mn to expand ethanol plants. (Thun Hoon, 15/12/15)
NCL expects 4Q15 net profit to be positive. It expects to get Bt100mn in domestic freight. It is considering investing in Indonesia, Vietnam, and Cambodia. It expects exports to comprise 50%. It expects 2016 revenue to grow 30%. (Thun Hoon, 15/12/15)
ACD expects to show net profit in 3Q15 backed by property management fees of Bt35mn. It plans to buy three hotels in Phuket, expected to be finalized in 4Q15. It plans to acquire more property business in Laos and Cambodia. It is confident 2015 revenue will be higher than Bt1bn and expects to wipe out retained losses within two years. (Thun Hoon, 15/07/15)
ANAN expects 2H15 revenue of Bt10bn backed by revenue recognition. Management says it plans to launch new projects that will contribute revenue for the next three years. (Thun Hoon, 15/07/15)
Comment: I think the journo’s don’t understand what they are writing here, ANAN isn’t going to have THB 10 bn in revenue in its 2H15, perhaps an additional THB 10bn of new backlog to be recognised in the future.
DCC plans to open new outlets in Cambodia and Laos. It expects exports to double this year benefitting from numerous orders from Sri Lanka, the Philippines, and Malaysia. It targets sales of Bt7bn with profit in the double digits. (Thun Hoon, 15/07/15)
Comment: Every thai co in this segment has to expand overseas, the domestic market is dead for them, until agricultural prices increase …
ERW expects tourist sector to continue to trend up in 2H15. It expects 2015 revenue to grow 30-35%. It plans to open 5 HOP INN hotels in 3Q15-4Q15 and 10 in 2016. (Thun Hoon, 15/07/15)
Comment: Always liked this company, but its a asset heavy business and despite their best attempts it isn’t easy to increase value.
ADVANC and TOT plan to invest in mobile-broadband business which is expected to be finalized in 3Q15. ADVANC expects 2H15 revenue to grow 4% which consists of 30% growth from data service revenue. (Khao Hoon, 02/07/15)
Comment: I do think this will kill JAS and most likely hurt True substantially as well.
AIRA plans to set subsidiary “AIRA Property” with registered capital of Bt200mn. Management says the company plans to invest in the property business with a focus on high rise buildings. It expects the set up in the second half of the year. (Thun Hoon, 02/07/15)
Comment: A brokerage business expanding to property, well why not? Up next alternative energy?
AMATA expects to book Bt2bn extra gain from selling assets to AMATAR in 3Q15. It plans to sell Bt3bn assets to AMATAR next year. (Khao Hoon, 02/07/15)
Comment: It listed and the response was weak. But overall still a positive step for AMATA
BDMS buys Muangraj Hospital for Bt1.43bn It expects the deal to be concluded by September. (Khao Hoon, 02/07/15)
Comment: And the acquisition machine continues.
CI expects 2015 revenue to grow 15% from 2014’s Bt1.69bn, benefitting from booking revenue from condominiums. Its backlog is expected to increase from Bt5bn. Its Bt1.15bn REIT is expected to be finalized next year. (Thun Hoon, 02/07/15)
CHOW expects strong earnings in 2015 backed by full-year contribution from power plant business and rising steel price. Shareholders have approved listing its subsidiary on mai. (Khao Hoon, 08/04/15)
Comment: The steel business is nothing for CHOW nor its value, everything here is fully related to its power plant.
CSS expects strong 1Q15 backed by more projects to set up telecommunication towers. The company believes the acquisition of NWC will enhance its capability to serve more projects. It will pay cash and stock dividend, with XD on May 12. (Khao Hoon, 08/04/15)
EFORL talking with two partners to launch new cosmetic product this year. It expects strong 1Q15 earnings backed by contribution from Wuttisak. EFORL plans to list Wuttisak next year. (Thun Hoon, 08/04/15)
Comment: With the number of branches on hand, any new product they launch can easily be sold through them, just imagine a 7-11 format for skin care clinics