Stocks in the news (apco, auct, bm, csl, ivl, j, jmt, lh, max, perm, ple, preb, rojna, smt, solar, super, tpch, tpipl) 05.10.16
APCO
APCO set up three subsidiaries, which it expects to support its 2017 performance. It expects 2016 revenue growth to be higher than 10% because it plans to boost sales in the last three months. It expects 4Q16 revenue to be peak. (Thun Hoon, 05/10/16)
Comment: They haven’t quite been able to do the magical growth stories that they had been predicting a few years back
AUCT
AUCT expects to book Bt6mn/year revenue from an associated company. IT expects 2017 revenue to rise to Bt800mn after used cars reach 160,000. (Thun Hoon, 05/10/16)
BM
BM expects 4Q16 performance to be good driven by public and private projects that are increasing orders both at home and abroad. It is talking to a prospective partner in Japan for more orders, expects this to be clarified within 2017. (Thun Hoon, 05/10/16)
CSL
CSL expects 2H16 performance to be close to 1H16. It expects 2016 revenue to inch up from last year. It expects its second computer center to be finished by the beginning of the next year. It is budgeting Bt100mn for its business expansion. It plans to provide service for software in order to handle the mobile office segment. (Thun Hoon, 05/10/16)
IVL
IVL expects 3Q16 net profit to reach Bt2.4bn, up 400%, after a takeover raised its capacity. (Khao Hoon, 05/10/16)
Comment: They definitely do want to push for the EPS of 4 baht for this year
J
J expects 2016 revenue to grow than 20% despite the economic slowdown. It is continuing its investment plan, with an eye to raising revenue and net profit. It plans to launch JAS Urban Srinakarin which it expects will increase revenue for the rest of the year. It plans to set up an REIT with a value of not less than Bt1bn; a decision will be made this year. (Thun Hoon, 05/10/16)
JMT
JMT expects to benefit from higher NPLs at financial institutions. It expects its debt portfolio to reach Bt110bn by the end of the year. It plans to buy home loans. (Thun Hoon, 05/10/16)
Comment: They would have to raise capital to reach this target methinks
LH
LH plans to broaden its high-end customer base by launching new projects over the rest of the year and next year. It expects this to increase its backlog from the current Bt1.8bn. It expects 2016 revenue to grow 10% from last year as planned. (Thun Hoon, 05/10/16)
MAX
MAX’s board approved acquiring common shares of PPTC in a proportion not exceeding 21.5% of its paid-up capital at a price of Bt454mn. It expects this deal to complete by midNovember if shareholders approve on Oct 6, 2016. It expects 3Q16 performance to be good. (Khao Hoon, 05/10/16)
PERM
PERM expects 2H16 performance to be good brought by higher steel price, the MoC’s moves to battle dumping and high demand from mega projects. It expects large orders to lift utilization rate to 100%. It plans to increase capacity. It expects 2016 revenue to grow 10%. It plans to cooperate with its partner in Australia to offer solar roof. It expects this to be ready for sale in April 2017. (Thun Hoon, 05/10/16)
PLE
PLE is talking to prospective partners in China, Korean, and Japan in order to take part in public project bids. It targets 2016 revenue to reach Bt6bn brought by Bt12bn in backlog. It plans to take part in upcoming bids. It plans to do a capital increase of 1.63mn shares to increase its potential to take part in government project bids. It expects to book Bt370mn revenue from selling STR shares. (Thun Hoon, 05/10/16)
PREB
PREB’s backlog is Bt8.6bn which can cover revenue until 2018. It plans to launch a Bt4bn project. It also plans to list subsidiary “Built Land”, which will support its performance. (Thun Hoon, 05/10/16)
ROJNA
ROJNA’s backlog is 300-400 rai. It expects its performance to return to the black after the 1H16 net loss of Bt29.04mn if it can transfer all backlog. It targets 2016 land sales of 500 rai, with Chinese companies planning to buy land in order to expand plants for electronics and solar cells. (Thun Hoon, 05/10/16)
Comment: ROJNA’s been on the move as a result of the news around TICON
SMT
SMT is budgeting Bt200mn to expand its capacity by 30-40% and plans to launch high margin products after getting large orders. It expects 2H16 performance to be robust brought by new clients. It expects to recognize revenue from solar panel project in 4Q16. (Thun Hoon, 05/10/16)
Comment: Arguably a great turnaround story, however we think its priced in already
SOLAR
SOLAR expects its performance to turn around as it expects 3MW cooperative unit power plant phase 1 to commence operations this year. It plans to take part in phase 2. It is discussing investing in solar roof with a value of Bt50mn/MW. It expects a decision to be made soon. (Thun Hoon, 05/10/16)
SUPER
SUPER made an acquisition to handle production of electricity from solar installations on the ground for government agencies and agricultural cooperatives, a total of 12 projects and total installed capacity of 48.2MW at 49% of registered capital for five transactions, total value of Bt1.25bn. (SET, 04/10/16)
TPCH
TPCH announced that Thung Sang Green Power Plant (TSG), with installed capacity of 9.2MW for sale, is completing its COD. It expects 2016 revenue to grow 200% from last year’s Bt304.96mn. It expects its total capacity to reach 200MW in 2020. (Thun Hoon, 05/10/16)
Comment: Just a continuation of their plans, we do wonder aloud if they’ll list the recently acquired company for waste-to-energy
TPIPL
TPIPL will list subsidiary TPI Polene Power (TPIPP)- the country’s biggest power generator using refuse-derived fuel – on the Stock Exchange of Thailand next month, in order to raise funds to support investment in three new power plants, as well as the repayment of debt. (The Nation, 05/10/16)