Stocks in the news (ap, auct, bjchi, ccn, cho, epco, erw, gpsc, ktc, ktis, mint, pl, ptt, richy, sena, tndt, top, tpoly) 25.08.15
AP
AP expects Thailand economy to be impacted by China and US troubles but it believes public investment will keep the economy on track after cabinet reshuffle. AP has achieved presales of Bt19.88bn over the first seven months with Bt13.54bn backlog. It plans to launch Baan Klang Muang Rama 2 with selling price Bt7-9mn. (ASTV, 25/08/15)
AUCT
AUCT will hold Customs auction of 579 high-end cars including Bentley, Porsche, Audi, Mercedes Benz, Ferrari, BMW and Lexus. It expects this to contribute Bt500mn to Customs. (Khao Hoon, 25/08/15)
Comment: Remember the AUCT only receives a fee per transaction, it doesn’t benefit as much as people believe on such a sale
BJCHI
BJCHI expects 2015 revenue growth to achieve its 15% target backed by Bt6.5bn backlog and nine upcoming bids. (Khao Hoon, 25/08/15)
CCN
CCN is looking for a partner to invest in IT system business overseas. It plans to bid for Bt100mn in public projects. (Thun Hoon, 25/08/15)
CHO
CHO expects 2015 revenue to grow 80%. It will sign an NGV bus contract with BMTA on September 16 after the court has given its ruling, allowing the deal to move forward. (Khao Hoon, 25/08/15)
EPCO
EPCO targets power plants of 300-500MW within 2-3 years by acquisitions at home and abroad. It expects 2015 revenue to grow 10% with 15% net profit growth as its solar farm in Japan is expected to contribute revenue in 4Q15. It plans to list subsidiary (Bo-Ploy Solar) next year. (Thun Hoon, 25/08/15)
ERW
ERW revised down 2015 revenue target growth from 35% to 28% to incorporate the effects of the bomb at Ratchaprasong that has cut occupancy rate to 75%. It has budgeted Bt900mn to open 15 new hotels. (Khao Hoon, 25/08/15)
Comment: And they’ve bounced back continuously after every crisis that has hit Bangkok
GPSC
GPSC will pay interim dividend of Bt0.35/share, payment September 9. (DBBNews, 25/08/15)
KTC
KTC reported 1H15 net profit of Bt1bn (+26%). Credit card spending grew 12% compared to market average of 7%. NPLs dropped to 2.2%. It plans to launch a marketing campaign to increase credit card members via new KTB branches. (DBBNews, 25/08/15)
Comment: Very impressive NPL management by KTC, then again if a company does make money from people paying late, how impressed should we really be?
KTIS
KTIS targets to more revenue from power business. It has set up a subsidiary, KTIS Research and Development. (Khao Hoon, 25/08/15)
Comment: Nothing new here, it’s the exact same business model with every sugar company
MINT
MINT targets net profit to grow 15-20% for next five years. It targets revenue from overseas to comprise of 50% of revenue. It expects tourism to recover in 4Q15. (Khao Hoon, 25/08/15)
Comment: Regardless of what is happening in the world or Thailand, MINT still continuous to achieve its lofty goals
PL
PL expects revenue to grow with the economy after the cabinet reshuffle. It plans to issue a Bt500mn debenture in 3Q15. (Thun Hoon, 25/08/15)
PTT
PTT believes the global economy now is better than during the subprime crisis. PTT is confident 2015 net profit will be higher than 2014’s Bt57bn thanks to a better refinery margin. (ASTV, 25/08/15)
RICHY
RICHY expects 2015 net profit to be lower than last year because of higher advertising expense for new projects. It expects 2015 revenue of Bt1.3-1.4bn as Bt991mn backlog is expected to be booked. It plans to issue a Bt500-600mn debenture in September. (Khao Hoon, 25/08/15)
SENA
SENA says presales of The Niche Pride Thonglor condo have reached Bt800mn. It plans to increase prices by 5% as costs for condos on Petchaburi and Ratchada rose 28% in 1H15. (Khao Hoon, 25/08/15)
Comment: Only question for SENA is when will they do the cap increase for its solar power business
TNDT
TNDT plans to invest in two 10MW coal power plants in Myanmar after getting a PPA. It expects construction to take 18-24 months, with commercial operations starting in 2017. (Thun Hoon, 25/08/15.
Comment: Quite the shift by TNDT, this is a wonderful move by the company, 2 decades building up the necessary equity and now expanding into a recurring income stream in a fast growing economy
TOG
TOG expects 3Q15 net profit to be higher than Bt437mn thanks to the baht depreciation. Management is confident 2015 revenue will achieve its 5% target growth backed by high demand. It plans to expand customer base. (Thun Hoon, 25/08/15)
Comment: Still a wonderful little business.
TOP
TOP expects a net profit this year after achieving Bt10.72bn in 1H15 aided by cost controls. It expects GIM to increase gradually to US$9/barrel. (Khao Hoon, 25/08/15)
TPOLY
TPOLY expects 2H15 performance to be better backed by high margin jobs. It is confident it will achieve 2015 revenue target of Bt2.5bn aided by an uptrend in construction and increasing backlog. (Thun Hoon, 25/08/15)
Comment: It is effectively left pocket right pocket for TPOLY and TPCH