Stocks in the news (aot, big, cman, cpn, dcon, gold, itel, ivl, mtc, pttep, tvo) 31.07.18
AOT
AOT says Suvarnabhumi Airport phase 2 expansion has progressed to around 30.62%. AOT is speeding up the project and plans to issue the TOR for the baggage belt conveyor and explosives detection system in August. (Kao Hoon, 31/7/18)
BIG
BIG set up a new subsidiary, Camera Holding, to expand its business. It expects 2H18 sales to be better than 1H18. It plans to add 1-2 stores in second half to reach 225 branches this year. It targets 2018 revenue growth of 10-15%. (Thun Hoon, 31/7/18)
Comment: I do still wonder what is the point of buying a camera for the average person given the quality of smartphone cameras these days. For enthusiasts I understand the desire/need for a specialist product but not for the mass market which is BIG’s target customer base…
CMAN
CMAN expects 3Q18 revenue to be good, supported by new orders for quicklime, hydrated lime, chemical limestone and cataclasite. It plans to expand its customer base both in domestic and foreign markets. It expects the factory in India to start operations in 2019. It expects 2018 revenue growth of 10%. (Thun Hoon, 31/7/18)
CPN
CPN plans to invest in a shopping center, office, hotel and property. It plans to open two department stores in 2H18 and two property projects in Ayutthaya are under construction. It will book revenue of Bt2.8bn from condominium projects this year. (Thun Hoon, 31/7/18)
DCON
DCON expects 2018 revenue of Bt1.5-1.6bn. It expects to launch two property projects with total value of Bt2.1-2.2bn. It reported 1H18 presales of Bt200mn, up 20-30% YoY. (Kao Hoon, 31/7/18)
GOLD
GOLD launched a townhome project, Golden Town Ayutthaya, with total value of Bt1.1bn. The project will launch on August 4-5 and presales are expected to reach Bt400mn. It expects revenue from provincial projects to hit Bt2.1bn in 2020. (Kao Hoon, 31/7/18)
ITEL
ITEL targets 2H18 revenue of Bt700-800mn, accounting for 50-60% of its 2018 revenue target of Bt1.4bn. It has been awarded projects from ADVANC and TRUE that will increase its backlog to Bt2.46bn. It plans to bid for USO NET phase 2 project. It targets 2018 revenue growth of 40%. (Kao Hoon, 31/7/18)
Comment: I do wonder what ever happened to the Thailand Data Center project’s that ILINK and ITEL were closely linked to
IVL
IVL completed the acquisition of Avgol Industries, a non-woven fabric product manufacturer. It expects the acquisition will add value and earnings in the future. (Thun Hoon, 31/7/18)
MTC
MTC expects 2H18 revenue to be better than 1H18 supported by shopping season. It expects loan growth of 40% YoY, backed by increasing customers. It confirms that its operations have complied with regulations. (Thun Hoon, 31/7/18)
PTTEP
PTTEP expects 3H18 revenue to grow. It expects sales volume to increase to 300K bbl/day. It expects to maintain its EBITDA margin at 70-75% and it has cash on hand of US$1.241mn. 2Q18 core earnings increased by 100%. It announced a dividend of Bt1.75 per share. (Thun Hoon, 31/7/18)
TVO
TVO expects to benefit from rising soybean and soybean meal prices as a result of the US-EU trade negotiations in which EU has promised to import more soybeans from the US. (Thun Hoon, 31/7/18)
Comment: I’m not entirely sure they do. It’s a spread game for TVO.