BANPU
BANPU says more than ten investment funds expresses interest in its shares during a roadshow in Japan, supporting its outbound expansion plan. It will continue to do roadshows abroad this year and detail its strategy “Greener & Smarter”, confirming its growth performance and leadership of the integrated energy business in Asia-Pacific. (Kao Hoon, 16/1/19)
Comment Expression of interest does not equal buying. There has been a lack of growth and leadership in Banpu for the longest time…

BEM
The State Enterprise Labour Union of EXAT opposes the dispute settlement. The State Enterprise Labour Union of the Expressway Authority of Thailand is appealing to the Transport Ministry and the State Audit Office of the Kingdom of Thailand to state its opposition to the 37-year extension of BEM’s concession in exchange for settlement of a dispute. (Kao Hoon, 16/1/19)
Comment: Hah!

BGRIM
BGRIM is interested in acquiring the 124MW SPP1 power plant that GLOW is considering selling. The board approved a budget to invest in a 863MW hydropower plant in Laos which is expected to generate electricity this year, enabling it to reach its revenue target of Bt42bn this year. (Thun Hoon, 16/1/19)
Comment: If BGRIM can get it a price which returns it 2x cost of funds, they’ll most likely go for it.

IVL
Canopus confirms that it has arranged sufficient funds via long-term loans from commercial banks in order to redeem all the US$200mn remaining outstanding bonds that expire on Jan 25. (Thun Hoon, 16/1/19)

KTB
Finance Minister says BoT has to take responsibility for KTB executive mistake. Finance Minister Apisak Tantivorawong, with regards to EARTH’s default of loans provided by KTB, said that the BoT must take responsibility since the Finance Ministry is just a major shareholder. The BoT is waiting for more data from KTB before it decides. (Kao Hoon, 16/1/19)

TCMC
TCMC targets revenue growth of 7-10% this year. It intends to take its furniture business to the US market and will list a subsidiary on the UK stock market next year. It plans M&A deals for business expansion and long-term growth. For its carpet and flooring business, it will increase brand awareness in the global market and for its carpet and upholstery business. it will focus on car manufacturers in Thailand. (Thun Hoon, 16/1/19)
Comment: There was a point when I thought this would be a good performing business given the names it bought in the UK however with Brexit, a continued slowdown throughout the world, and rather average management that goes silent all too often the upside disappeared.

TM
TM’s management says it has received huge orders for protective masks and inventory has already run out. It targets sales of Bt665mn this year or growth of 5% in tandem with an industry. It expects margin to widen thanks to cost control and canceled production of unprofitable products. (Thun Hoon, 16/1/19)

VCOM
VCOM expects revenue of Bt2bn this year with an increase in new orders. It will expand its service business, I-SECURE, with expected revenue of Bt140mn this year. It will book full-year revenue from ISECURE this year and expects it to contribute 35% of total revenue from last year’s 30%. (Thun Hoon, 16/1/19)