Stocks in the news (a, bgt, earth, fsmart, lalin, lhbank, q-con, max, mcs, mint, pttep, thani, world) 29.07.16
A
A expects 2016 net profit to mark a record high despite the slowdown in 2Q16 sales. It plans to launch 3-4 new projects, valued at Bt2bn. It expects 2016 sales to reach Bt6bn. It targets revenue to hit Bt10bn within three years. (Thun Hoon, 29/07/16)
Comment: It is rather incredible how this property developer started with effectively nothing back in ’97 to achieve these levels of revenues
BGT
BGT expects to show a net profit this year thanks to strong growth in sales in 1H16. It plans to launch new products throughout the rest of the year. It targets revenue to grow 15%. It plans to expand to Myanmar with two new branches. (Thun Hoon, 29/07/16)
Comment: A forgotten consumer brand retailer if there was one. One can guess that they’ve struggled with the advent of the new brands hitting the Thai market in the past 5 years
EARTH
EARTH expects 2H16 earnings to be good backed by numerous orders and seasonality. It plans to expand to China where it is getting orders amounting to Bt4-6bn/year. (Thun Hoon, 29/07/16)
FSMART
FSMART expects to report its earnings on Aug 11. It expects 2Q16 revenue and profit to record a new high, supported by more top-ups and the addition of 78,000 on-line top-up machines. It will sell 2018 FIFA World Cup Russia tickets on Aug 1. (Kao Hoon, 29/07/16)
Comment: And this compounding machine continues to grow
LALIN
LALIN plans to launch new projects to handle demand in 2H16. It expects demand to grow from public transportation. It expects 2016 revenue to grow 15%. Work on hand of Bt700-800mn is expected to be booked this year. (Thun Hoon, 29/07/16)
LHBANK
LHBANK expects loan growth of 10-12% by focusing on corporate loans. It expects NPLs to not go over 2%. It says dealing with CTBC is in process, expected to be complete in 3Q16. It will receive funds of Bt16bn from this deal. (Thun Hoon, 29/07/16)
Comment: In theory they shouldn’t have an issue with NPL’s like the traditional local banks because their customers are from LH and single detached housing is a market of “real buyers” versus speculators
Q-CON
Q-CON expects substantial earnings in 2H16 aided by public projects and new products. It expects to take part in MRT and road projects as a subcontractor. (Thun Hoon, 29/0 7/16)
MAX
MAX used Bt190mn of its Bt450mn investment budget to buy 9.9MW waste power plant R-EEP. It will use the remaining Bt260mn to buy 80% of MJC shares to support future revenue growth. (Kao Hoon, 29/07/16)
MCS
MCS expects 2Q16 net profit of Bt171mn, growth of 12%, thanks to a jump of 56% in exports. (Kao Hoon, 29/07/16)
Comment: Backlog is not an issue for them for the coming years only the Yen/THB
MINT
MINT expects 2H16 performance to be good on the back of seasonally high tourism. It expects 2Q16 earnings to reach Bt607mn, up 12%, mainly from good hotel and food businesses. (Thun Hoon, 29/07/16)
PTTEP
PTTEP reported 2Q16 net profit of Bt2.66bn, up 102%, aided by cost control. Its average selling cost dropped as well as crude oil but volume was stable at 320,000 barrels/day. It will pay a dividend of Bt0.75/share, XD on Aug 9, PD on Aug 25. (Thun Hoon, 29/07/16)
THANI
THANI expects 2016 loans to reach Bt16-17bn. It expects demand for loans to move up in the rest of the year because of harvest season. It expects total loan portfolio to hit Bt33bn. It plans to issue a debenture to get a lower interest rate. (Thun Hoon, 29/07/16)
WORLD
WORLD reported FY2016 net profit after deducting reserve for Western University Fund of Bt187mn, an increase of 76.79% on total revenue of Bt1.23bn, up 61.61%. (Kao Hoon, 29/07/16)
don McMahon
LH BANK – any information available, as to why the private placement with CTBC BANK is at 2.20 baht/share, a 20% premium. ? Thanks.
Pon
because they wanted it to happen.
Don’t forget that the Thai banking market is restrictive to foreign institutions.
don McMahon
Thanks, K. Pon. after 20 years living in Thailand – still learning something new every day 🙂