ADVANC
ADVANC is talking to TOT to become a business partner; it expects this to be finalized in August. ADVANC is ready to bid for both 1800 and 900 spectra in the 4G auction. It plans to expand its market in 2H15. It targets 2015 revenue growth of 3%. (Khao Hoon, 11/08/15)

BCP
BCP targets run at rate of 110,000 bpd despite the fall in oil price. It targets 2014 EBITDA of Bt10.4bn as it achieved 72% of its target in 1H15. (ASTV, 11/08/15)

CCP
CCP’s backlog is Bt2.3bn and it expects to bid for more, especially local government jobs and private projects. It expects 2015 revenue to be close to 2014 Bt2.6bn. It expects to benefit from dual track and high speed train projects. (Thun Hoon, 11/08/15)
Comment: Another beneficiary from the potential infrastructure projects

CKP
CKP has accelerated construction of Bang-Pa-In and Xayaburi hydroelectric power plants. It expects 2Q15 earnings of Bt131.02mn compared to 2Q14’s Bt35.38mn. (Thun Hoon, 11/08/15)
Comment: We still believe that its fairly priced despite all this earnings growth, there’s nothing really new to report from this co for the time being

CPN
CPN reported 2Q15 net profit of Bt2bn (+9%YoY) aided by cost control and less interest expense after debt repayment and refinancing. Its gross margin and operating margin are expected to be better than last year. (ASTV, 11/08/15)

CSS
CSS board has approved an interim dividend of Bt0.1/share. CEO says 2H15 revenue is expected to be higher than 1H15 backed by large orders. It expects 2015 revenue to achieve its target of Bt5bn supported by power and IT businesses. (Thun Hoon, 11/08/15)

DRT
2Q15 net profit grew 14.5% from 1Q15’s Bt95.39mn aided by numerous orders. Management targets 4% revenue growth in 2015, backed by a broader customer base. It plans to expand in CLMV for overseas market. (Thun Hoon, 11/08/15)
Comment: From an incredibly low base, they still have quite a way to go just to return to previous levels

DTAC
DTAC raised its investment budget from Bt14bn to Bt20bn to increase its coverage to 95%. It targets to maintain market share of 25%. It revised down 2015 revenue. (Bangkokbiznews, 11/08/15)
Comment: And will dividend payments be cut?

GUNKUL
GUNKUL targets power business to become its strength. Its backlog is Bt3bn. It is confident 2015 revenue will grow 40%. It reported 2Q15 earnings of Bt173.99mn (+67.49%YoY). (Thun Hoon, 11/08/15)

HMPRO
HMPRO is confident 2015 revenue will grow 10-15% backed by a good SSS growth in Bangkok. It expects 4Q15 revenue will be peak, aided by marketing campaign. It expects 2015 gross margin of 25% as consumers switch to low margin products. It lowered its investment budget from Bt8bn to Bt6bn after resizing eight of its planned new stores. (Thun Hoon, 11/08/15)
Comment: They are very conservative with their forecasts and the latest quarterly earnings have shown that they are doing better than expected.

IFEC
IFEC has budgeted Bt326mn to acquire a 3.08MW solar plant in Mae Hong Son province. (Thun Hoon, 11/08/15)
Comment: This POS should continue to drop and drop, even with all of its plans, it isn’t worth more than 7/share

IRPC
IRPC expects to sign the contract for a Bt200mn job. Revenue contribution is expected in 3Q15. It expects 2H15 performance to be better than 1H15 supported by Bt3bn in open bids of which it expects to be awarded 50%. It expects to get the PPA for a waste power plant soon. (Thun Hoon, 11/08/15)

IVL
IVL expects 3Q15 revenue to grow 8% aided by high demand. It plans to do a takeover to add value to the company. It is confident 2015 net profit will be higher than 2014’s Bt1.4bn. It is budgeting US$1.1bn to expand its business. (Thun Hoon, 11/08/15)

MTLS
MTLS reported 2Q15 net profit of Bt183.42mn (+56%YoY). It is confident loan growth will achieve target of 45-50%. It plans to focus on nano-finance scheme and loans for land. (Thun Hoon, 11/08/15)
Comment: A modern day loan shark that is valued @ THB 39 bn.

OCEAN
OCEAN plans to expand abroad in 2H15. It expects to increase selling price by 10-15%. It targets revenue from Goodyear of Bt60mn this year. (Thun Hoon, 11/08/15)

QH
QH says the slow economy has led consumers to be less eager to buy a new home. Its condominium transfers dropped. 1H15 net profit was Bt1.2bn (-23%) and revenue was Bt8.5bn (-13%). (ASTV, 11/08/15)

SGP
SGP expects to show a net profit in 2H15 aided by a stable gas price and cost control. It targets 2015 revenue of Bt60bn. It has budgeted Bt500mn to broaden local customer base. (Thun Hoon, 11/08/15)

SINGER
SINGER expects 2Q15 earnings to be better than 1Q15’s Bt47.99mn aided by high demand. Management is confident 2015 revenue will achieve its 15-20% target growth benefitting from becoming a stakeholder in JMART. (Thun Hoon, 11/08/15)
Comment: I do see the synergies here with JMART, but without a doubt these will be challenging times for SINGER.

SNC
SNC expects 2015 net profit to be good backed by electric appliance business. 2015 revenue is expected to mark a record high compared to 2011’s Bt8.35bn. It plans to broaden its business growth by a takeover. (Thun Hoon, 11/08/15)

Comment: A takeover by SNC…we used to like this co a decade ago haven’t really seen a reason to go back to it for years.

SPCG
SPCG reported 2Q15 net profit of Bt750mn (+77%YoY). 1H15 net profit was Bt1.38bn (+86%) backed by revenue contribution from 36 solar farms. (Khao Hoon, 11/08/15)