Stocks in the news (bem, egco, gl, grammy, ilink, irpc, ori, susco, svi) 25.08.17
BEM
BEM to pay dividend of Bt0.06/share, XD on September 5. (Thun Hoon, 25/8/17)
EGCO
EGCO says 2H17 performance will grow. It expects to maintain ROE at above 10%. It also plans to expand abroad into Laos, Indonesia and Vietnam. Domestically, it will begin to book revenue from Klong Luang power plant from 3Q17. (Khao Hoon, 25/8/17)
GL
GL said major shareholder APFH will sell shares in GL. They will sell 13.39mn shares or 0.87% of their holding of 10.42%. (Khao Hoon, 25/8/17)
Comment: Kaohoon is back on the anti-GL rampage
GRAMMY
GMM Grammy sells half of subsidiary. The sons of tycoon Charoen Sirivadhanabhakdi have bought into GMM Grammy Plc’s TV arm in a 1-billion-baht deal. GMM Grammy told the Stock Exchange of Thailand on Thursday Adelfos Co Ltd, owned by Mr Charoen’s two sons — Thapana and Panot — had bought the new shares issued by GMM Channel Trading Co Ltd, GMM Grammy’s wholly owned TV subsidiary. (Bangkok Post, 25/8/17)
Comment: Grammy has to keep selling assets just to stay afloat. These arguably are decent purchases made by BDMS and Charoen’s group given the price paid.
ILINK
ILINK to join government auctions to boost revenue by Bt2bn. It believes 2017 revenue will grow 15-20%. (Thun Hoon, 25/8/17)
IRPC
IRPC believes it can gain 2017 EBITDA of Bt18bn, driven by a Bt7bn boost from the Everest project. (Khao Hoon, 25/8/17)
ORI
ORI to enter into a JV with Nomura Real Estate to develop four condominiums worth Bt8.6bn. It will start selling three projects worth Bt6.1bn on September 16-17. It expects to sell 50%. ( Khao Hoon, 25/8/17)
SUSCO
SUSCO to corporate with BANPU to install solar farms in gas stations. (Thun Hoon, 25/8/17)
Comment: Still a b-grade version of PTG and perhaps every other petrol station operator for that matter.
SVI
SVI says 2H17 sales are better than 1H17 due to backlog and new orders from Europe, boosting margin. (Thun Hoon, 25/8/17)
Comment: Not sure that is a fact, margins aren’t increasing at all.