BAY
BAY targets loan growth of 6-8% this year by focusing on corporate and personal loans. Ittargets NPLs to not be higher than 2.5% with bad debt of 1.4-1.5%. It expects 4Q16 bad debt tobe higher because of adding one more corporate loan. (Kao Hoon, 01/02/17)
Comment: Part of me is still of the viewpoint that this bank should break into the big 4 quite easily with its Japanese shareholder.
BIG

BIG targets 2017 revenue to grow 10-15% aided by a focus on the printing business. It plansto increase this service via BIG camera shops. It is budgeting Bt100mn to open 10 more branches.It plans to launch a marketing campaign to boost sales. (Kao Hoon, 01/02/17)

Comment: So where will the next 50% growth come from here? What else can bring camera sell?

BJCHI

BJCHI plans to hold a roadshow in Asia in order to attract foreign investors by 4Q17. It plansto take part in Bt8bn in bids. It expects 2017 performance to continue to grow from last year onthe back of a positive outlook for the power business. (Thun Hoon, 01/02/17)

BPP

BPP plans to invest in two Japanese solar farms with capacity of 28.9MW each. This willincrease its total capacity to 129.8MW. These are expected to COD in 2017-2019. Its Chinese solarfarm is already operating 100MW. It is interested in taking part in the 2nd phase of solar farmsfor government units. (Thun Hoon, 01/02/17)

CENTEL

CENTEL plans to provide hotel management service for hotels in CLMV where it expectstourism to grow significantly. It is budgeting Bt1.1-1.2bn to renovate its existing hotels. (ThunHoon, 01/02/17)

EARTH
EARTH expects 1Q17 performance to be good thanks to a higher coal price. It targets 2017sales of 12mn tons brought by more customers. It plans to increase new customers to expandrevenue. (Thun Hoon, 01/02/17)

ESTAR
ESTAR targets 2017 revenue to mark a record high of Bt2.2bn. It plans to launch 2-3 projects with a total value of Bt3bn. It expects this to increase presales to Bt1bn. Its backlog isBt2bn. (Kao Hoon, 01/02/17)
ORI

ORI targets 2017 revenue of Bt6bn on the back of Bt4.6bn backlog, which accounts for 77% ofits revenue target. It plans to launch nine projects valued at Bt15bn. It expects this to increase itspresales by 20% to Bt13bn. It expects 2016 revenue to hit its target of Bt4bn. (Kao Hoon, 01/02/17)

Comment: Whilst I applaud management in their ability to continually grow, I don’t understand the valuation of ORI at the moment…

OTO

OTO plans to take part in Bt1bn private and public projects. It expects public projects tocomprise 60%. Its backlog is Bt1bn. It targets 2017 revenue of Bt1.3bn by focusing on integratedprojects, which will expand margin. It is looking for a business partner in order to expand toCLMV. (Thun Hoon, 01/02/17)

PTT

PTT plans to list PTTOR. It expects to hold a shareholders meeting in April. It is budgetingBt10bn to open 1,600 service stations this year. It expects 2016 net profit of Bt82bn. (Kao Hoon,01/02/17)

Comment: They must’ve taken a look at PTG’s growth and start to get worried. I suspect that PTTOR will do more than just supply petrol/diesel/ngv; imagine if each station has a 7-11, a few retail outlets and basic hotel rooms for rent.

SEAFCO

SEAFCO expects 2017 revenue to grow from last year thanks to public projects and itsexisting backlog. (Thun Hoon, 01/02/17)

TNR

TNR targets 2017 revenue growth of 7-8% brought by expansion both at home and abroad. Itexpects to recognize revenue from its larger orders. It expects to increase the portion of OEMabroad. It plans to launch ONETOUCH brand in 2020 with a target market share of 35%. (Kao Hoon,01/02/17)

Comment: Given that I’m rather juvenile at times the one question that pops into my mind is how do they do human testing on this?

TPCH

TPCH expects to complete a hydropower plant deal in Laos soon. It expects 2017performance to be good. It expects to COD a 60MW biomass power plant by the end of this year.It targets capacity of 110MW next year, with a full year of contribution in 2019. (Thun Hoon,01/02/17)

Comment: They’ve been able to quickly expand overseas as a result of the Thai government being slow in awarded new MW’s, so the question here is can the company successfully COD every plant that they have on hand?

TRC

TRC shares begin trading on the main board. It expects to get more projects from PTT (gaspipeline projects). It expects to sign a contract for potash mine construction from ASEAN Potashwhich already got the Letter of Award in 1Q17. (Thun Hoon, 01/02/17)

TSR

TSR targets 2017 revenue to reach Bt2bn. It plans to expand all three business units. It isbudgeting Bt5mn to open five stores. It also plans to expand its electric appliance business unitboth at home and abroad, with a revenue proportion of 10%. It expects to continue its loanbusiness this year with 500,000 existing customers. (Thun Hoon, 01/02/17)

Comment: My analyst came up with 2 questions for this company, how will they manage their cash flows given that they are now providing installments and loans to their customers? And when will the bad debts be cleared up. Management does have to be very prudent in how they are expanding.

TTW

TTW expects 2017 revenue to grow 5.3% from last year boosted by higher demand. (ThunHoon, 01/02/17)

UPA
UPA is budgeting Bt66.7mn to invest in a 25.4MW waste power plant in Ayutthaya andSaraburi with Synova Power Service (SPA). It expects to get a PPA from PEA in March. (Kao Hoon,01/02/17)