Stocks in the news (amata, amatav, aq, biz, bsm, cpf, iii, ori, ptg, top, tsth) 29.08.18
AMATA
AMATA expects land sales to reach 925 rai this year as it already sold 350 rai. It is dealing with customers to sell several hundred rai, especially in the EEC. It expects to revenue contribution from recurring income to rise to 80% from 60% now. It is studying investment projects in Myanmar and Laos. (Thun Hoon, 29/8/18)
Comment: So the EEC still hasn’t materialised 12 months after the share price of both AMATA and WHA have run. At what point will investors/trades just say hmmm nope don’t believe it’s happening for a few more years
AMATAV
AMATAV expects land transfers to exceed target of 20 hectares as it transferred 12.7 hectares in 1H18 and has backlog of 8 hectares, supported by growth of FDI in Vietnam. (Thun Hoon, 29/8/18)
Comment: FDI will continue into Vietnam but AMATAV isn’t able to get the land necessary yet to cater to it
AQ
AQ expects proceeds of more than Bt8.95bn from the auction of land in 4Q18. The proceeds will be used to pay off a loan at KTB and reduce accumulated losses. (Kao Hoon, 29/8/18)
BIZ
BIZ expects 2H18 to grow YoY. It expects to bid for government projects with total value of Bt600-700mn. Backlog is Bt1.61bn which it will gradually book as revenue through 2020. It says the market for radiation treatment machines continues to grow. It is building Cancer Allianz Sriracha Hospital in Chonburi which is expected to complete in 2019. (Thun Hoon, 29/8/18)
BSM
BSM expects 2018 revenue to reach Bt800mn, +30%YoY. Current backlog is Bt1bn. It will launch new products in 3Q18. It plans to raise revenue contribution from real estate to 50% in 2020. (Thun Hoon, 29/8/18)
Comment: That revenue increase is coming from their retirement project in Hua Hin
CPF
CPF increases exports. It plans to set up a broiler processing factory in Vietnam in 2019. It expects 2H18 results to grow HoH, supported by swine price recovery in Vietnam and growth of aquaculture business. (Thun Hoon, 29/8/18)
III
III expects 2H18 results to be good supported by high season for international air freight and shipments. Thai AirasiaX plans to add flights and routes, supporting the freight business. It expects to book revenue from DG Packaging JV and expects revenue to grow 15-20% this year. (Thun Hoon, 29/8/18)
ORI
ORI expects 2018 revenue to reach Bt16bn from Bt15bn and has raised its presales target to Bt24bn. Current backlog is Bt30bn and Bt10bn of its backlog will be booked in 2H18. (Kao Hoon, 29/8/18)
PTG
PTG denies rumors of a share repurchase. Management says it has budgeted Bt500mn to expand nonoil business. Share price fell after local institutional investors were disappointed in 2Q18 results. (Kao Hoon, 29/8/18)
Comment: In the end its their non-oil business that should eventually drive things, but it won’t be significant until 2020. Until then, once marketing margins normalise again you’ll see the price recover as it did in the past.
TOP
TOP’s shareholders approved a Bt160bn budget for the Clean Fuel Project (CFP). This will boost its capacity to 400k bbl/day. It expects to become ASEAN’s energy hub. (Kao Hoon, 29/8/18)
TSTH
TSTH expects 2QFY19 sales to reach 281k tons after it expanded to retail and modern trade market. It expects 2018 sales of 1.35m tons this year, supported by demand recovery and government investment projects. It plans to export to Myanmar and launch new products. (Thun Hoon, 29/8/18)