Stocks in the news (ah, au, bts, earth, htech, meta, noble, pylon, ticon, tpipp, tmb, vibha) 13.06.18
AH
AH will join with VINFAST to build vehicle chassis factory in Vietnam worth Bt1.8bn. It will start operations in 3Q19. (Kao Hoon, 13/6/18)
Comment: Thats just amazing for AH, if you know whats going on in Vietnam you’ll see that the government is essentially trying their best to mimic the koreans and develop their own car market and car brand.
AU
AU expects to grow no less than 20% this year after adding ten branches. It will sign a franchise license in Malaysia in 3Q18 and open in late 4Q18. It will co-brand with two restaurants in October and one airline in 3Q18. (Kao Hoon, 13/6/18)
Comment: These are rather interesting developments from AU, perhaps at one point the valuation will begin to make some sense if they can continue this form of expansion.
BTS
BTS with a partner will bid for a high-speed train project worth Bt224bn. It said it has talked with PTT and will hold more concrete talks after buying the TOR. (Kao Hoon, 13/6/18)
EARTH
The SEC has accused 11 EARTH board members for lack of transparency about a rise of Bt26bn in liabilities. It is accusing the company of hiding information from investors and lenders. (Kao Hoon, 13/6/18)
HTECH
HTECH expects 2Q18 to be better QoQ, backed by strong orders. It expects revenue growth of 10% this year. It believes HDD demand is rising. It expects to receive orders from potential customers in Europe and the US. It has plans for cost control and aims to maintain gross margin at same level as 1Q18. (Thun Hoon, 13/6/18)
META
META expects to turn around this year with revenue of Bt2.3bn. It has backlog of Bt9.5bn, with Bt1.3bn of that booked as revenue this year. It will announce the results of the bids for a Bt1.7bn contract within two weeks and expects to win 50% of the bid. (Kao Hoon, 13/6/18)
NOBLE
Kitti and Crowne bought a big-lot of NOBLE shares for Bt2.75bn, raising its stake to 49.14%. It will tender for the remaining 42.91% at Bt12.25/share by June 21. Kitti said he bought NOBLE shares to show shareholders that the company is strong and unified. (Kao Hoon, 13/6/18)
Comment: I’ve always thought that NOBLE had some of the best locations for their projects, just that the quality was meh…
PYLON
PYLON expects revenue to be backloaded. It targets revenue of Bt1bn this year. It will bid for a Bt2bn contract. It has Bt1bn in backlog. It admits that 2Q18 results will not be good due to construction delays for two condos and the Yellow Line. (Kao Hoon, 13/6/18)
TICON
Sale of assets okayed. TICON’s board of directors gave the okay for the sale of 17 factories and 41 warehouses to TREIT for a total of Bt3.6bn. (Kao Hoon, 13/6/18)
TPIPP
TPIPP will install waste power plant TG7 in 2H18 and co-fired power plant TG8 in 2H18. This will raise revenue to Bt10bn this year. It is negotiating to take over a large-scale power plant in Thailand. It expects revenue will reach Bt13-14bn next year upon full operations of eight power plants. (Thun Hoon, 13/6/18)
Comment: Same story from this co, at one point in the next 12 months the yield should reach ~5%
TMB
TMB will focus on SME loans with expanded gross margin. It targets loan growth of 8% this year and will sell non-performing loans every quarter. It recently issued a 7-year green bond for Bt1.85bn for lending to green business companies. It aims to grow its portfolio to Bt15bn within five years. (Kao Hoon, 13/6/18)
VIBHA
VIBHA expects good 2018 backed by rising patients. It will invest Bt600mn to build a 9-storey building. It expects revenue growth of 10-15% YoY in 2018. The new building in Vibhavadi hospital will start operations next year, adding to revenue. (Thun Hoon, 13/6/18)
Bo Stenberg
Heavy foreign investor selling in here–offset mostly by “local institutes,” also retail investors. Baht following the others against the dollar. It’s not Manila or Jakarta…but is this the end of life as we previously knew it???
Pon
global instead of a regional trend. don’t expect too much weakness frankly, remember just 3 years the baht was at 35 to the USD, versus virtually every other currency in the region it’s still the best performer despite all of this selling.
Bo Stenberg
Does the BOT publish dollar (foriegn reserves) selling stats? Where would this be?
Pon
Its reported on their website.