ADVANC
ADVANC has budgeted Bt7bn to expand to fixed broadband and plans to be a big player within 3-5 years. It expects 2016 revenue to be close to 2015’s Bt156bn with EBITDA growth of 37- 38%. It guarantees a dividend of 100% of net profit. (Thun Hoon, 08/03/16)
Comment: 1) I think the news meant EBITDA margin 2) This is lower, as expected, versus last year ~40% 3) Now the only issues that remain are in regards a) How much revenue will be lost from those subscribers that haven’t crossed over b) How will the agreement look w/ TOT

AKR
AKR expects the government to conclude solar farm projects on March 11. It plans to invest in 40MW in renewable energy. The company will invest in 20MW and EPC in 20MW. It targets revenue growth of 50% to Bt3.2mn, backed by bids for transformer work to add to its backlog. (Thun Hoon, 08/03/16)

DCORP
DCORP is confident it will have a profit this year, supported by the startup of a 300 MW solar cell factory in 2H16. It expects shareholders to approve the investment in YINGLI. (Kao Hoon, 08/03/16)

GOLD
GOLD is confident that profit in 2016 will higher than last year. It targets revenue of Bt9.8mn and will book profit from sale of assets to a REIT of over Bt130mn each year. It expects to open 15 new projects worth more than Bt16.4bn. (Kao Hoon, 08/03/16)
Comment: Well of course with the sale to REIT!

IFEC
IFEC will sign a 100MW power plant contract in Japan by the end of March. It has budgeted Bt10bn to start operating phase 1, which has capacity of 10MW, with the next phase in 3Q16. It expects profit to double in 2016, supported by taking over 500MW in renewable energy. (Thun Hoon, 08/03/16)
Comment: I still just don’t understand why Thai companies are able to beat Japanese companies in investing in renewable energy in Japan, they have a lower cost of capital in Japan, better access to information, is there something that we are all missing?

JAS
JAS announces share buyback – Jasmine International (JAS), a fixed-line broadband operator, stunned the market yesterday by announcing a 6-billion-baht share buyback. The announcement comes as the company is reportedly struggling to secure the 76 billion baht needed to pay for a 900-megahertz spectrum licence as the deadline for the first instalment looms. (Bangkok Post, 08/03/16)
Comment: It’s going to be a fun day watching this unfold….I’ll comment more on this one later

LDC
LDC expects net profit in 2017 with revenue reaching Bt1bn, with 2016 continuing in the red. However, it is confident that revenue will grow 60% from 2015. It plans to increase capital by Bt380mn to add more branches, pay a B/E and to use as working capital. (Kao Hoon, 08/03/16)
Comment: I have always wondered why this dental company can’t make a profit?

OISHI
OISHI announces investment budget. OISHI Group, a subsidiary of Thai Beverage, yesterday announced a 2016 investment budget of about Bt1.5 billion. (The Nation, 08/03/16)

SC
SC expects earnings in 1Q16 continue to grow, supported by its backlog worth more than Bt8bn. It plans to launch three new projects aimed at high end customers. It is confident that presales will hit its target of Bt15bn. (Thun Hoon, 08/03/16)

SMT
SMT expects to turn around this year. It expects to eliminate retained losses of Bt48mn in 2Q16 and will ask the board to okay a dividend. It targets revenue of Bt8bn with an investment budget of Bt200mn in 2016. (Kao Hoon, 08/03/16)

SPALI
SPALI sets target presales in 1Q16 at Bt5bn after achieving Bt3.1bn in the first two months. It will expand upcountry and increase sales from outside Bangkok to 25%. (Kao Hoon, 08/03/16)

SPCG
SPCG Last chance to buy to get a dividend of Bt0.81/share, yield 3.6% before XD on March 10. (Kao Hoon, 08/03/16)
Comment: Yes and in a few years I doubt they’ll be able to maintain this yield when the adder runs out…

SPRC
SPRC is confident that GRM will be higher than market consensus at US$5-8/bbl. It has an investment budget of US$20mn to increase profit and capacity. (Kao Hoon, 08/03/16)

TSR
TSR opens new branch in Buriram. It plans to expand 5-7 branches upcountry. It expects revenue to grow 30% supported by special promotions for “SAFE” strainer. (Kao Hoon, 08/03/16)
Comment: We do wonder what will the impact to margins be with their new multi-product approach