Stocks in the news (big, cig, csl, drt, dsgt, gpsc, ilink, jts, rojna, smt, spcg, tgpro, tk, tnp, uwc, vnt) 07.11.16
BIG
BIG reported 9M16 net profit of Bt546mn, up109%YoY, boosted by mirrorless cameras. It expects a strong performance in 4Q16 brought by new products and higher sales thanks to many events. It expects 2016 revenue and net profit to mark a record high. Its board approved an interim dividend of Bt0.07/share. (Thun Hoon, 07/11/16)
Comment: Every thing will continue to look great YoY until 4Q16 thats the last great YoY quarter and then it’ll be interesting to see what management can do to take things further
CIG
CIG expects 2017 revenue to double to Bt2bn, fuelled by its air condition solution services. It expects 4Q16 performance to be a record high brought by earlier investment. It is studying to invest in a new business. (Thun Hoon, 07/11/16)
CSL
CSL reported 3Q16 net profit of Bt85.15mn which brought 9M16 net profit to Bt248.21mn. The drop in performance came from lower sales in its yellow pages business that overwhelmed the higher revenue from the IT business. (Kao Hoon, 07/11/16)
DRT
DRT expects revenue to grow 5% in 2017 after 8% growth this year. It plans to expand its customer base abroad, especially in CLMV. It has expanded to Taiwan already. It targets revenue from abroad to comprise 20%. It expects its existing capacity to handle large orders. It is talking to a prospective partner in Cambodia. (Thun Hoon, 07/11/16)
Comment: 20% in how many years? 5? 10?
DSGT
DSGT posted 3Q16 net profit of Bt1.5mn compared to a 3Q15 net loss of Bt94.1mn and 2Q16 net loss of Bt40.2mn. (Kao Hoon, 07/11/16)
GPSC
GPSC reported 3Q16 net profit of Bt724mn, up 17%YoY. This brought 9M16 net profit to Bt2.28bn, up45%. It booked dividend income from RATCH of Bt240mn. (Kao Hoon, 07/11/16)
ILINK
ILINK plans to bid for a Bt250mn PEA project (fiber optic project) and a Bt400mn project (fiber optic maintenance). It expects the cabinet to approve a Bt3.8bn project (underwater cable project). Winning the bid will contribute revenue to the company. (Thun Hoon, 07/11/16)
Comment: Every potential project for ILINK is well known, and because they are one of the few players in Thailand focused on this their probability of winning is rather high
JTS
JTS says approving an interim dividend during a tender offer period is okay. It says shareholders will benefit because it has unappropriated retained earnings of Bt115mn and cash on hand of Bt551mn against a total dividend of Bt70.65mn. (Kao Hoon, 07/11/16)
ROJNA
ROJNA approved Bt100mn for a buyback program of 22mn shares. It expects to start the program on Nov 21, 2016. Its board has approved investing in two companies and expects the deal to complete this year. (Thun Hoon, 07/11/16)
SMT
SMT expects 2017 performance to be good after it increased capacity for IC packaging and wafer dicing. It expects a strong margin on numerous orders. It plans to cooperate with a partner from the U.S to increase solar panel capacity to 200MW from 40MW. (Thun Hoon, 07/11/16)
Comment: It’s the manufacturing and potential sales of the solar panels that SMT is going to be focused on doing
SPCG
SPCG reported 3Q16 net profit of Bt503.4mn, up 6.47% from 3Q15’s Bt472.78mn. This brought 9M16 net profit to Bt1.68bn, down 1.03% from 9M15’s Bt1.7bn. (Kao Hoon, 07/11/16)
Comment: The question now is what will K. Wandee do with the potentially huge amount of cash she’ll accumulate over the next few years
TGPRO
TGPRO expects 2017 performance to be good after increasing capacity. It expects sales for furnibest tube to increase to 3,000tons/month from 1.4-1.5tons/month. It expects demand for stainless steel to be boosted by MRT projects and sugar plants. (Thun Hoon, 07/11/16)
TK
TK expects motorcycle sales to recover and expects leasing to grow along with the market. It plans to issue a Bt300mn debenture to support loan growth at home. It also plans to implement active strategy in Laos and Cambodia. (Thun Hoon, 07/11/16)
TNP
TNP reported 3Q16 net profit of Bt13.96mn, up 81.73%. It expects a good 4Q16 performance with revenue growth of 10-15% in 2016. It plans to open four branches in 2017, with the first branch opening in 1Q17. (Thun Hoon, 07/11/16)
UWC
UWC expects 17MW in biomass power plants to COD by this year. It plans to continue acquiring more power plants to raise capacity to 185MW within 2017. It targets power business to contribute 70% of total revenue within three years. It expects 2016 performance to turn around. (Thun Hoon, 07/11/16)
VNT
VNT expects 2016 revenue to be close to last year’s Bt16.6bn backed by average petrochemical-PVC spread of US$300. It expects higher demand for PVC from infrastructure investment. It is studying to invest in related business, with a decision to be made next year. (Thun Hoon, 07/11/16)