Stocks in the news (asian, bch, centel, crd, gl, icn, irpc, scc, stec) 22.11.17
ASIAN
ASIAN targets 2018 revenue to grow at least 10-15% after changing its strategy to expand its premium pet food and aquatic feed markets, replacing the fall in frozen tuna, shrimp and squid sales volume. It has budgeted Bt200mn to build new storage, which will increase storage capacity by 15,000 pallets. (T hun Hoon, 22/11/17)
BCH
BCH saw a new high for number of patients with the support from WMC Hospital. It continues to plan to build four new hospitals worth Bt3bn, funded by cash flow and loans from financial institutions. (Thun Hoon, 22/11/17)
Comment: The new hospitals apparently will be at the same level as its initial hospitals and not an attempt at the mid-high end like they attempted with WMC, so this could be why the markets are expecting a faster ROI.
CENTEL
CENTEL says 4Q17 results will show positive growth thanks to increasing tourists during high season. It is going to open “Cozy Samui” on December 1 and expects “Shop Chuay Chard” campaign to help boost revenue. (Khao Hoon, 22/11/17)
CRD
CRD believes 2017 revenue will reach its target of Bt1.4bn, as it currently has backlog of Bt1.267bn which will be booked as revenue this year and next. It targets 2018 revenue growth of 10%, as it joins bids for all new projects. It expects to receive new projects worth Bt1.4-1.6bn next year. (Khao Hoon, 22/11/17)
GL
GL says it has not yet found a special auditor after being told by the SEC to revise its financial statement as soon as possible. The SEC is keeping an eye on GL and says the requirement to revise GL’s financial statement and the accusations of GL’s ex CEO, Mitsuji Konochita are unrelated issues. (Khao Hoon, 22/11/17)
Comment: What a shit show from this firm.
ICN
ICN targets 2018 revenue to grow by 30-40% and plans to bid for new projects worth around Bt10bn. It believes 2017 earnings will grow strongly by 70-80% and plans to raise 2017 backlog to reach Bt800mn from backlog at the beginning of the year of Bt400mn. It reports 9M17 net profit of Bt44mn, growing by 307%. (Thun Hoon, 22/11/17)
IRPC
IRPC says 2018 earnings will be outstanding, supported by the full year booking of revenue from UHV, PPC and PPE projects, which have reached full runs. It expects to book profit of Bt400-500bn from a power plant joint venture with GPSC and is going to propose an investment plan for the Beyond Everest project at the end of December. (Thun Hoon, 22/11/17)
Comment: I’m thinking that the #’s from the news are incorrect, effectively for IRPC its a spread game, if oil prices stay at these levels then things should continue to be ok.
SCC
SCC has budgeted Bt866mn to buy 75% of Conimex, a leading packaging business in Thailand, in efforts to become a full-service provider in the packaging business in ASEAN. It will target customers who require premium quality packaging such as the cosmetics industry. (Thun Hoon, 22/11/17)
STEC
STEC announced it will continue to bid for new government projects. It currently has backlog of Bt120bn and plans to join bidding worth Bt20-30bn in 4Q17. (Thun Hoon, 22/11/17)