Stocks in the news (bm, bsm, cpf, cpn, itel, ori, robin, seafco, spvi, sta, ticon, top) 14.09.18
BM
BM expects 3Q18 results to be outstanding, supported by new orders. It is confident that revenue will grow by 10-20% to reach Bt1bn. Backlog is Bt500mn, all of which will be booked as revenue this year. It plans to launch a new product. It was awarded a project bid from DTAC to set up more 1,000 towers. It is working with a partner to set up a holding company and build a factory in Myanmar. (Thun Hoon, 14/9/18)
BSM
BSM plans to launch one property development project each quarter. It targets real estate revenue to reach Bt400mn next year, 40% of total revenue. It expects real estate revenue to reach Bt120mn this year. (Kao Hoon, 14/9/18)
Comment: So they are becoming a property company? I always liked their construction materials business even though they #’s don’t show it..
CPF
CPF has been included in the Dow Jones Sustainability Index (DJSI) in EM category this year. It has been selected for four consecutive years, confirming its world class sustainability. (Kao Hoon, 14/9/18)
Comment: Biggest joke…which is odd given how well the indonesian listed entity performs…
CPN
CPN says the acquisition of GLAND is consistent with its business strategy to generate long-term income for shareholders. (Kao Hoon, 14/9/18)
Comment: From what we’ve learnt CPN hasn’t spoken with the major partners/shareholders in GLAND. I’m not sure how this is going to cleanly play out given that now 2 REITs exist that are owned by CPN (which is not allowed by SEC regulations)
ITEL
ITEL is focusing on a bid for USO net phase 2 project worth Bt20bn in October. It expects 9M18 results to be outstanding. Backlog is Bt2.8bn. It expects 2H18 results to grow. It targets revenue growth of 40% this year. (Thun Hoon, 14/9/18)
ORI
ORI unveiled 2H18 plans. It will launch a property development project in 3Q18 and several more in 4Q18, widening its margin and raising earnings in 2H18. (Thun Hoon, 14/9/18)
Comment: He has a vision to hit the THB 100 bn market cap…well…ok.
ROBIN
ROBIN unveils four dimensions for its business strategy: brand management, customer information management, branch expansion and sales area management, and business development. It hopes the new strategies will underwrite its growth leadership in Thailand’s retail market. (Kao Hoon, 14/9/18)
SEAFCO
SEAFCO is bidding for projects with total value of Bt6-7bn and expects to be awarded 30-40% of the total. Backlog is Bt2.8bn. It is confident that revenue will reach Bt2.5bn. It believes that the clear path to the next general election will raise investment confidence and keep the government domestic infrastructure investment on track to the roadmap. (Thun Hoon, 14/9/18)
Comment: And will they still keep going and going? Wouldn’t bet against it…
SPVI
SPVI will benefit from the debut of three new Apple iPhone models. The products are expected to be put on sale in Nov-Dec and will raise its sales in 2H18. It targets revenue growth of 10% this year. (Kao Hoon, 14/9/18)
Comment: This one and COM7…same trades every 2 years..
STA
STA expects 2H18 earnings to grow, supported by peak for rubber glove orders in 4Q18. It expects to be the third biggest rubber glove manufacturer within 3-5 years. It expects earnings to turn around this year after it has focused on high-margin products. (Kao Hoon, 14/9/18)
TICON
TICON expects revenue growth of more than 15% this year. 3Q18 revenue will be better than 2Q18 as it will gain Bt1.8bn from the sale of assets to TREIT. It expects rental income of factories and warehouses to rise as well. It has budgeted Bt10bn for business expansion for the next three years. (Kao Hoon, 14/9/18)
Comment: I do wonder when/if this will be delisted…
TOP
TOP has budgeted Bt156bn to set up an instant fuel manufacturing project, especially jet fuel, to supply logistics companies in EEC. (Thun Hoon, 14/9/18)
don
BSM came to my attention, when I read their NR’s about 2 retirement home projects – Hua Hin and Mynamar. wish they were a more established and financially secure company.
r
Pon
Their balance sheet is ok, but their valuations have always been high since they ipo’ed