AMATA
AMATA signs contracts with Chinese and Japanese customers to sell a total of 200 rai of land. It expects to sign more contracts for 500 rai in 4Q14. Although it admits that revenues for the year will be lower than last year’s Bt7.605bn, it says land sales this year will reach its target of 1,000 rai. (Kao Hoon, 22/10/14)
Comment: Without a doubt, 2014 is going to be a poor year for AMATA, 2015 will have the usual improvements and the IPO listing of Amata Vietnam

ANAN
ANAN reports success of its “IDEAO URBAN PULSE” campaign. The company has presold almost 2,100 condominium units with a total value of more than Bt13bn. (Kao Hoon, 22/10/14)
Comment: Next year ANAN is expected to transfer close to THB 15 mn in revenues, they have been doing an good job in building up their presales and backlog visibility for the next 2-3 years.

BSM
BSM to enter Cambodia in 2015 to expand client base. The company is focusing on Myanmar in 2014 and expects to receive orders in 4Q14. It expects 2014 net profit to be a record high after net profit of Bt13mn in 1H14 and expects revenue growth of 20% YoY. (Thun Hoon, 22/10/14)
Comment: The problem for BSM is that they have to expand internationally just to grow, and revenues are still minimal today.

CHOW
CHOW reports continued progress on 18MW solar power plants in Japan. It expects 4MW to start operating in 4Q14 with construction on the remainder finishing this year. Management said the company is focusing on solar power in Japan and has set up an office in Japan to handle operations. (Thun Hoon, 22/10/14)

GOLD
GOLD reports 3Q14 net profit growth of 170% YoY, an increase for the third consecutive quarter. The company expects 2014 total profit of Bt800mn, making it a turnaround stock after its acquisition of KLAND. It plans to set up a REIT next year. (Kao Hoon, 22/10/14)

GUNKUL
GUNKUL says 3Q14 performance was good and expects total revenue of Bt3bn in 2014 on backlog of more than Bt1.2bn. The company is ready to bid for new public projects and expects a solid performance in 2015 after beginning to book revenue from wind power plants. (Thun Hoon, 22/10/14)

L&E
L&E targets sales growth of 15-20% — SET-listed Lighting & Equipment Plc (L&E) is upbeat about the future. It is aiming for 15-20% growth in sales revenue in the coming years, seeing strong demand in local and overseas markets and after the formation of the ASEAN Economic Community (AEC) at the end of next year. (Bangkok Post, 22/10/14)

NUSA
Board approves issue of 7,972mn new shares. It sells 5,000mn of these at Bt1.3/share via private placement and will reserve the rest for exercising NUSA-W1, NUSA-W2, and NUSA-W3. The company will ask for shareholder approval at a meeting on December 8. (Kao Hoon, 22/10/14)
Comment: NUSA constantly has to raise capital because of project mismanagement, this isn’t a good sign for a property developer.

NWR
NWR signs agreement with EGCO for construction in Ratchburi worth Bt1bn. It is waiting for bidding results from EGAT on the Mae Moh power plant construction worth Bt1bn. (Kao Hoon, 22/10/14)

RML
RML announces 9M14 presales of over B3bn. It plans to launch a town home project at the end of this year and will continue acquiring more land. (Kao Hoon, 22/10/14)
Comment: Herein lies the problem with RML, revenues/earnings peaked with the transfers of The River and 185 Rajadamri

SPGC
SPCG says 2014 revenue this year to hit Bt3.5bn, supported by revenue from 36 solar farms. Next year, it expects revenue to exceed Bt5bn. It plans to jointly invest in a 2MW solar farm in Myanmar and will bid for a 30MW solar farm project in Nepal. (Kao Hoon, 22/10/14)
Comment: The first major solar player to have all their projects up and running

SVI
SVI expects sharp growth in 3Q14 sales and net profit due to high season. The company is confident that sales will reach US$300mn in 2014. (Thun Hoon, 22/10/14)
Comment: SVI has the necessary capacity to still increase revenue by 20% p.a. for the next 2-3 years.