Stocks in the news (aot, asap, bcp, kbank, lh, mono, spali, tu, tvo) 26.06.18
AOT
Yesterday, AOT opened a new domestic terminal at Phuket Airport that will increase passenger capacity to 12.5 million/year. For its 7MFY18, the company reported passenger traffic growth of 10% YoY to 84 million. (Thun Hoon, 26/6/2018)
Comment: Finally this is completed. More expansions coming for AOT
ASAP
ASAP expects revenue to grow 25% this year. The company plans to use Bt4.0bn to add 5,500 cars to its fleet. Management expects 2Q18 revenue to be stronger YoY. (Thun Hoon, 26/6/2018)
Comment: Valuations are nuts for this company. But I do like the management team and their vision and execution thus far.
BCP
BCP plans to recognize revenue from the petroleum field in Norway in 4Q18. The company sees the project’s IRR at more than 15% and it will benefit from a 90% tax exemption. The project will support the company’s petroleum exploration business in the future. (Kao Hoon, 26/6/2018)
KBANK
KBANK sees a strong trend for online shopping with high growth of 30% p.a. KBANK has the largest market shares with ”K PLUS SHOP” users of 1.4 million and targets an increase to 1.7 million by the end of this year. Online transactions via QR code in 5M18 were valued at Bt4.0bn and KBANK targets this to jump to Bt15bn by the end of this year. (Thai Rath, 26/6/2018)
LH
The major shareholder of LH, Anant Asavabhokhin, plans to make a voluntary partial tender offer to purchase 10% of LH’s paid-up shares for Bt11.8/share. Operations are expected to be strong and dividend yield high at 6.5% this year. LH plans to open Terminal 21 in Pattaya in 4Q18. (Thun Hoon, 26/6/18)
MONO
MONO is expanding into home shopping and plans to air a new program “29Shopping” on MONO29. It targets revenue growth of 40% this year. (Kao Hoon, 26/6/18) SIRI SIRI plans to launch a luxury residential project with a value of Bt3.0bn as it sees strong demand in this segment (Kao Hoon, 26/6/18)
SPALI
SPALI expects the better operations in 2H18 as it plans to launch 24 new projects with total value of Bt28bn. The company expects high revenue of Bt8.0bn in 2Q18 and expects 2018 revenue to beat its target of Bt33bn. (Thun Hoon, 26/6/18)
TU
TU has entered into an agreement to acquire 25.1% of Thammachart Seafood Retail Co., Ltd. (TSR) in Thailand for Bt37mn. This will give it market share in frozen products in Thailand via TSR’s 158 outlets. It plans to finalize the acquisition in July-August this year. (Thun Hoon, 26/6/18)
Comment: They are still trying their best to become looked as a consumer name. But this is a small acquisition with little impact on the overall numbers
TVO
TVO sees strong demand and good operations in 2H18. It plans to launch a new product in 3Q18 and plans to expand capacity, which will be ready to operate in mid-2019. (Kao Hoon, 26/6/18)
Comment: But prices are now becoming weaker, so the great #’s seen will begin to decrease