Stocks in the news (bcpg, brr, chg, egco, pace, ptt, seafco, susco, thcom, tpch) 24.07.17
BCPG
BCPG to invest in power plant business in Indonesia. The production power is 182 MW. It will record revenue in 3Q17. (Thun Hoon, 24/7/17)
Comment: I do often worry about Thai companies buying commodity/power assets in Indonesia…but should this be a genuinely good purchase it does add to the theory that BCPG benefits as a state company that is expanding throughout the region.
BRR
BRR signals better 3Q17 performance YoY due to higher demand and higher sugar prices. It targets 2017 revenue growth of 30%YoY. (Thun Hoon, 24/7/17)
CHG
CHG said 2Q17 will show growth, driven by an early rainy season and the Social Security program. It expects 2017 revenue growth of 15%. (Khao Hoon, 24/7/17)
EGCO
EGCO progressing in SPP Klong Luang power plant with production power of 121MW. It will record revenue in 3Q17. It also has an off-take contract with EGAT for 90MW for 25 years. (Thun Hoon, 24/7/17)
PACE
PACE signals a turnaround in 3Q17, driven by transactions for Mahanakorn. It plans to build a new condominium worth Bt3.5bn, increasing backlog from Bt15.4bn. It also has a deal with a Chinese partner to strengthen the company. (Thun Hoon, 24/7/17)
Comment: A lot of “deals” that don’t seem to materialise at PACE. Quick numbers indicate liabilities (debt to fincos and customers) to equity is ~27x
PTT
PTT has outlined an investment budget of more than Bt50bn. It plans to add 20 EV car charger sites. It said oil sales grew 3-4% in 1H17. Solar rooftops at its filling stations are being negotiated with GPSC. (Thun Hoon, 24/7/17)
SEAFCO
SEAFCO got two new projects worth Bt245mn, increasing backlog to Bt21bn. It plans to bid for pile drilling for 170 construction projects. (Thun Hoon, 24/7/17)
SUSCO
SUSCO postponed investing in LPG business, reasoning that floating the price may drive up the prices. LPG revenue contracted by 10%. However, it still believes revenue growth will reach its 5% target or Bt20bn, driven by oil exports to CLMV. (Khao Hoon, 24/7/17)
THCOM
THCOM maintains 2017 revenue to close to 2016, with earnings of Bt12.1bn. This is due to no effect from cancellation of Softbank contract in Thai Com 9. (Thun Hoon, 24/7/17)
TPCH
TPCH outlines 2H17 plans. It plans to start up a 10 MW power plant in Satun in 4Q17 that will boost total power output to 60MW. It will make a decision on investing in water power in Laos this month. (Thun Hoon, 24/7/17)
Comment: They’ve been delayed by government delaying bids for the waste to energy plants in Thailand