Stocks in the news (aot, bcp, cbg, demco, singer, ttb) 03.12.22
AOT sees turnaround in profit in 1Q23 (ending Dec 22), as pax recovered to 70% to 270K/day.
BCP sees continued growth in EBITDA, supported by BCPG-OKEA expansions, sets Bt45.6b capex, expects strong 4Q on seasonal.
CBG mulls listing convenience store subsidiary, CJ Express, as soon as next year, aims to raise US$500m for stores expansion.
Comment: CJ express is the king of Eastern Thailand, even 7-11 can’t beat them in their backyard.
DEMCO sets 10-20% FY23 revenue growth target on realizing Bt2,786m backlog, eyes Bt2-3b bids in new projects, to hold talk with NUSA management soon, after becoming a 23% holder.
Comment: Get rid of the existing management of demco. Sell all the renewable assets to gunkul and sell the listco entity to some cannabis player. Done.
SINGER launched hair care & beauty products line, to branch out from home appliances to small appliances and lifestyle products.
Comment: Well I’m not the target customer set, but this is probably going to work out with customers buying lipstick on credit….
TTB raised ttb ME save, digital saving, interest rate by 0.6% to 1.7% effective Dec 1.
Comment: And raised their loan rates by +1%
xavi
Nusa holds just below the mandatory tender percentage, but is that enough power to get rid of some of the useless management inside Demco?
Infuriating just how useless the management has been over there, always talking up a big game and then producing mediocre results. Their core operating loss is projected to hit a quarter billion baht plus this year, and overall performance will deteriorate even more with a shrinking backlog and expiring wind adders.
Pon
They’ll have enough votes at the shareholder meeting to vote out board members and change management if they want to. I’ve gone through after being on 2 boards of listed co’s…it can be a bit messy..but with such a diverse shareholding structure, can be easily pushed through. Though I suspect the thai way of retirements are more likely.