Stocks in the news (asefa, bkd, eforl, epco, epg, erw, j, kool, ktb, ktc, mc, ncl, nwr, pdi, sst, spa, thai, top, vpo) 20.01.17
ASEFA
ASEFA plans a roadshow abroad which it hopes will bring in more investment by funds. It will make a decision by the end of January. It has budgeted more than Bt10mn to open seven new branches nationwide. It targets 2017 revenue growth of 15% YoY, with more jobs waiting to be booked and new jobs that will expand backlog from Bt1.8bn, and provide revenue through 4Q17. (Thun Hoon, 20/01/17)
BKD
BKD has a new job worth Bt718mn to do the interior decoration for Chakri Naruebodindra Medical Institute, Rama Hospital. It will book revenue from February. This lifts its backlog to Bt1.6bn. (Kao Hoon, 20/01/17)
EFORL
EFORL has already repaid its Bt200mn B/E to Solaris Asset Management Co., Ltd. It expects 4Q16 to be good, supported by the “Shop for the Nation” program. (Kao Hoon, 20/01/17)
Comment: I never quite understood what has taken EFORL so long to get it’s act together and list wuttisak, its been on the cards for years.
EPCO
EPCO expects substantial growth in 2017 brought by revenue contribution from power plants. It targets capacity to reach 600MW in 2018 from the current 400MW. It expects to conclude an acquisition plan in 1Q17. It plans to submit the filing to list a subsidiary this year. It recently invested Bt443.4mn in a 3.465MW Japanese solar facility. (Thun Hoon, 20/01/17)
EPG
EPG expects 3QFY16 profit of Bt444mn or growth of 25% YoY thanks to more orders from Aeroklas. (Kao Hoon, 20/01/17)
Comment: They still seem to be able to achieve decent numbers w/o the benefit of oil price declining, may be worth a second look.
ERW
ERW expects 4Q16 net profit of Bt105mn, which will bring 2016 net profit to Bt369mn, growth of 86.6%. It expects tourists from Europe, Russia and Chinese to recover. (Kao Hoon, 20/01/17)
Comment: So it’s one of their best years as a public company, but still relatively unloved by the market. It is the only pure hotel play for Thailand with some liquidity.
J
J is negotiating to acquire a department store, expects a decision this year. It launched JAS Urban Srinagarindra, which it expects to contribute revenue of Bt130-150mn/year. It plans to launch a Bt300-400mn condo in mid-2017. It targets 2017 revenue growth of not less than 30% (Thun Hoon, 20/01/17)
Comment: A condo? Sigh ok..
KOOL
KOOL plans to launch new a new mobile air cooler series and other new electric appliance products in May. It expects 2017 revenue growth of 40% and plans to expand to 500 branches from 240 now. It plans to expand abroad, especially in CLMV. (Thun Hoon, 20/01/17)
Comment: This name continues to grow and grow. Single product risk? Who cares obviously.
KTB
KTB targets loan growth to be higher than 5%, above industry growth of 4-5%. It plans to expand loans in every segment, focusing on government units. It does not worry about a lower NIM. It is ready to reduce NPLs in order to lower its provisions. (Thun Hoon, 20/01/17)
Comment: Well with NPL’s higher than these high risk financing co’s like SAWAD and MTLS you have to wonder what is going on at KTB
KTC
KTC reported 4Q16 profit of Bt640mn or growth of 44.8% YoY, bringing 2016 profit to Bt2.49bn, growth of 20%. Behind this is revenue from credit cards and personal loans; NPLs decreased to 1.66% from 2.06% last year. (Thun Hoon, 20/01/17)
Comment: If interest rates rise (though I doubt there will be any substantial hike in rates) what would the impact be on KTC? Regardless management has done a masterful job and fixing this place up in the past 5 years.
MC
MC plans to open branches in Myanmar and Laos in 1Q17. It also plans to expand to Malaysia and Indonesia, where it sees good potential. It targets exports to comprise 30%. It is also looking at the Philippines is another destination. It expects 2017 revenue to grow 15%. (Thun Hoon, 20/0 1/17)
Comment: After years of declining margins, increasing inventory days, will 2017 be a banner year for MC?
NCL
Investors are interested in NCL shares because of its good potential. It expects 2017 performance to turn around, and targets revenue growth of 10-30%. It expects to benefit from its JV. It targets long term revenue to reach Bt3bn. (Thun Hoon, 2 0/01/17)
NWR
NWR plans to take part in Bt180bn bids. Of this it expects to get Bt10bn. It expects to book Bt600mn in revenue from the property business via subsidiary Mana Pattanakarn. It plans to launch two new projects with a value of Bt1.6bn. (Kao Hoon , 20/01/17)
PDI
PDI expects 2017-2019 performance to be good on the back of a higher zinc price and baht depreciation. It is budgeting Bt2.3bn to invest in 140-150MW power plants. It expects to COD two Japanese solar farms. It plans to acquire more power business. It expects to benefit from its scrap recycle and eco business. (Thun Hoon, 20/01/17)
SST
SST expects 1H17 performance to turn around from 2016, boosted by growth in food business and higher demand for warehouse. It expects 2017 revenue to continue to grow from more clients. It plans to list subsidiary Mudman, which it expects will provide sustainable growth. (Thun Hoon, 20/01/17)
SPA
SPA plans to open branches in Laos, with a decision to be made in 2Q17. It also plans to expand in Vietnam and Cambodia as hoteliers are talking with the company to provide spa service in their hotels. It plans to open 10 more branches. (Thun Hoon, 20/01/17)
THAI
THAI expects gradual growth this year. It targets load factor to reach 80%. It expects cabin factor to hit 86% in 1Q17 on seasonality. It will take delivery of seven aircrafts soon. It expects to select its Deputy Director this week. (Thun Hoon, 20/01/17)
Comment: I still expect a capital increase here. They are still effectively a bankrupt company.
TOP
TOP expects 2016 net profit to be a record high of Bt20bn on the back of Bt2bn stock gain in 4Q16 and operating power plants. (Kao Hoon, 20/01/17)
VPO
VPO expects 2017 performance to be better on the back of higher palm oil price. It expects to benefit from flooding in the South, as this will push up demand and price. It plans to expand abroad for higher revenue. (Thun Hoon, 20/01/17)