AGE
AGE expects 2017 revenue to grow 25-30% on the back of robust earnings for the first four months of the year. It continues to expand to China and expects exports to comprise 30% this year. (Kao Hoon, 09/05/17)

AMC
AMC plans to launch new products to boost 2017 revenue to growth of 10-15%. It expects domestic demand to improve in line with the initiation of public projects. It plans to list its subsidiary in 1-2 years. (Thun Hoon, 09/05/17)
Comment: I’m not sure what this steel product manufacturer can do that will really drive earnings or its value over the coming years.

ASAP
ASAP expects 1H17 performance to be good with both private and public orders. It expects 2017 revenue to grow 30-40% from last year supported by high demand. It continues to invest in Asap Auto Park, which is expected to contribute revenue in 2018. (Thun Hoon, 09/05/17)

BCP
BCP reported 1Q17 net profit of Bt2bn with revenue of Bt43.9bn aided by higher oil price and a 12% increase in volume. The higher gross margin came from higher production. Its refinery margin improved to US$7.07/barrel. (Thun Hoon, 09/05/17)

BRR
BRR is talking to prospective partners at home and abroad to invest in two new plants in Buriram and Surin. It expects finalization at end-2017 or beginning of 2018. It estimates capital investment at Bt10bn. It plans to invest in a power plant. It expects its infrastructure fund to get clarification in 2017. (Thun Hoon, 09/05/17)
Comment: There hasn’t been much commentary on the fact that the government has allowed the domestic sugar prices to be more in line with global prices thereby allowing producers to do far better when sugar prices are higher.

EPCO
EPCO expects to recognize net profit from power business both at home and abroad this year. It expects 360MW natural gas power plant to contribute revenue in 2Q17. It expects printing business to grow 10%. It expects 2017 revenue to grow 50%. It plans to submit filing for EP in 3Q17. (Kao Hoon, 09/05/17)

GFPT
GFPT expects 1Q17 earnings to grow in line with exports. It plans to report financial results on May 11. It expects 2017 revenue to grow 5-10%. (Kao Hoon, 09/05/17)
Comment: No surprises here. In a few quarters you may see headlines about chicken prices declining.

IVL
IVL reported 1Q17 net profit of Bt4.4bn, up 8% on the back of higher HVA production and profit contribution from its M&A. It is budgeting US$1.2bn to support its growth. (Thun Hoon, 09/05/17)
Comment: Continuous purchases of assets. I do wonder what the real return on capital is for all of these investments.

IRPC
IRPC reported 1Q17 net profit of Bt2.36bn, down 22% from last year because of a maintenance shutdown. This was better than it expected because of stock gain and a strong baht. (Kao Hoon, 09/05/17)

JAS
JAS reported 1Q17 net profit of Bt693mn, up 715% YoY on the back of 2.525mn Internet subscribers. (Kao Hoon, 09/05/17)

KBANK
KBANK plans to rebrand K-Mobile Banking plus to K PLUS and also launch K PLUS ME to meet SME client needs. It targets SME loan growth of 4-6%. It also cautious about lending because of economic risk. (Thun Hoon, 09/05/17)

KBS
KBS expects a strong performance in 2017 brought by recovery in sugar price. It continues to operate Project C, which will increase total capacity to 35,000 tons/day. It plans to set up a new plant with capacity of 20,000 tons/day. (Kao Hoon, 09/05/17)

MGT
MGT expects substantial improvement in 2017 performance fostered by implementing cost control. It targets 2017 revenue to grow 20% from last year’s Bt560mn. It is budgeting Bt30mn to invest in a lab for product testing; a decision should be made in May. It plans to focus on paints, cosmetics and food. (Thun Hoon, 09/05/17)

PCA
PCA expects 2H17 performance to turn around with a record high of backlog at Bt400mn, which it expects to book this year. It plans to take part in upcoming bids to improve its performance. It targets 2017 revenue to grow 20% with doubled sales from abroad. (Thun Hoon, 09/05/17)

PTTEP
PTTEP says there has been no environmental impact from the oil leak at Montara. It says that it has yet to receive any documentation from Indonesia. (Kao Hoon, 09/05/17)

SAMTEL
SAMTEL expects to sign a Bt4bn contract in 2Q17 which will increase its backlog from Bt7- 8bn, of which 40% is expected to be booked this year. It expects 2H17 performance to be good bought by large orders. It expects 2017 revenue to be not less than Bt9bn. (Thun Hoon, 09/05/17)
Comment: a continual recovery in their bottom line. Wouldn’t be surprised to see this continue until 2018

THAI
THAI received its AOC and license to transport hazardous material from CAAT. This will increase its customer confidence. It expects 1Q17 earnings to be good. It will release results on May 15. (Kao Hoon, 09/05/17)

TNP
TNP reported 1Q17 net profit of Bt14.55mn, up 32.76%. Revenue from sales and services grew 8.19% YoY from expansion. (Thun Hoon, 09/05/17)

TU
TU reported 1Q17 net profit of Bt1.46bn, up 19.3% with sales of Bt31.43bn. It targets 2017 sales to reach Bt145-150bn. (Kao Hoon, 09/05/17)
Comment: rather anemic growth from the tuna king.

TWPC
TWPC expects 2Q17 performance to be good brought by high demand and higher selling price. (Thun Hoon, 09/05/17)
Comment: rather straightforward company here. Margins relatively stable , it’s only a question of how far and quickly do they want to grow their business.