Stocks in the news (br, city, fte, ori, pk, pm, ptg, super, toa, tpoly) 22.09.17
BR
BR plans to expand overseas in order to increase selling channels and improve revenue structure. It also plans to list its subsidiary in the Hong Kong stock market. (Thun Hoon, 22/9/17)
CITY
CITY’s 4Q17 revenue looks to be strong due to an increase in steel price. It targets 2017 revenue to reach Bt525mn. It reports high demand with many orders coming in and expects to receive new government projects that will bring in a number of orders in the near future. (Thun Hoon, 22/9/17)
Comment: Amazingly cheap when looking at it’s balance sheet, but earnings have been an issue.
FTE
FTE says 3Q17 earnings will be a new high. It has raised its revenue growth target to 20% and reports backlog of Bt450mn, of which 60% will be booked this year. It is also preparing to bid for new projects worth Bt200mn. (Khao Hoon, 22/9/17)
ORI
ORI 3Q17 presales a reached new high after new project launches and supportive marketing campaigns to increase backlog. It also partnered with Nomura to do joint venture project. It believes 2017-2019 earnings will continuously grow. (Thun Hoon, 22/9/17)
Comment: They’ll look amazing for the next 12 months
PK
PK says 4Q17 sales will make a huge jump, after entering high season. It targets 2017 revenue to reach at least Bt4bn. It expects to finalize the purchase of land for a new factory this year and plans to expand its market to overseas, aiming to increase revenue proportion from foreign markets to 30% within three years. It also targets revenue to reach Bt5.5bn in the next three years. (Thun Hoon, 22/9/17
PM
PM believes 2H17 revenue will grow contributed by the canned tuna and taro snack market. It expects 2017 revenue growth to beat 2016’s and plans to take its taro snack products to the Chinese market in early 2018; this plan will be finalized in 4Q17. (Khao Hoon, 22/9/17)
Comment: A lot of questions were thrown to me about this company, I used to like the price..a decade ago, but given where it is priced I doubt they’ll be able to achieve what people are expecting. Now if you’re thinking that it will grow at high single digits both on the top and bottom line, what would you pay for it?
PTG
PTG to issue a Bt1bn (maximum) bond with 3-year maturity and interest rate of 3.38% per year on September 25-27. It plans to use the funds for business expansion. (Thun Hoon, 22/9/17)
Comment: Still a great compounding machine which only benefits from these lower interest rates
SUPER
SUPER is in the process of increasing capital of subsidiary “Super Earth Energy4” by Bt119.90mn from Bt100,000 in order to support future waste power plant expansion. Its SUPERW4 also begins to trade in the market today. (Thun Hoon, 22/9/17)
TOA
TOA has set its IPO price at Bt22-24/share. It will open the subscription for retail investors on September 27-29. It plans to use the funds from the IPO for business expansion in-house and overseas. It says it is currently building three new factories in Indonesia, Cambodia and Myanmar, which are expected to start operations in second to fourth quarter next year. (Thun Hoon, 22/9/17)
Comment: People, especially institutions, will go gang busters for this
TPOLY
TPOLY got two new projects worth Bt859.4mn, increasing projects on hand to Bt2.8bn. It is preparing to bid for new projects worth Bt2bn over the rest of the year. It believes 2017 revenue will grow 10% to reach Bt3bn. (Thun Hoon, 22/9/17)
Comment: It’s been a great turnaround year for TPOLY, with the projects they receive from TPCH wouldn’t be surprised to see it continue to next year