Stocks in the news (ete, icn, oishi, psh, seafco, tasco, ureka, vgi, wha) 20.11.17
ETE
ETE received a new project worth Bt131mn and reports 3Q17 earnings of Bt17.57mn, growing 184% with revenue of Bt404.67mn, growing 19.06%, from an increase in revenue from engineering services and energy businesses. (Khao Hoon, 20/11/17)
Comment: And its already pricing this in plus far more…
ICN
ICN says it received a new project worth Bt500mn in 4Q17 which will be booked in 2018. It reports 9M17 earnings of Bt44.27mn, growing by 307.74% and revenue of Bt600.91mn, increasing by 77.34%. It believes 2017 revenue will grow by 80-90% as targeted . (Khao Hoon, 20/11/17)
Comment: It’s becoming quite repetitive saying the same things, already priced this is plus far more….
OISHI
OISHI reports 2017 earnings of Bt1.443bn, growing by 28.50% as a result of better management of costs and expenses in the food and beverage businesses. It declared a dividend in 2H17 of Bt2.30/share, which will XD on November 30 and pay on February 28, 2018. (Khao Hoon , 20/11/17)
Comment: It looks like they are finally fixing their operations, revenue growth hasn’t been anything special over the past 4 years but still decent YoY
PSH
PSH plans to launch 16 new projects in line with its target to launch 60 projects in 2017, worth Bt55bn. It also plans to develop eight projects in EEC worth Bt5bn and reports 9M17 presales of Bt38.067bn, growing by 9.8%. (Thun Hoon, 20/11/17)
Comment: I’m still curious to see what non-residential projects they will be planning to do.
SEAFCO
SEAFCO recently received two new projects worth Bt155mn consisting of the Orange Linage and a project for Landmark in Myanmar. This increased its backlog of Bt2bn. (Thun Hoon, 20/11/17)
Comment: They keep winning winning and winning projects, but its just all priced in and more…
TASCO
TASCO is studying a new investment project to build an asphalt production plant in the Philippines, which it expects to finalize in the beginning of 2018. It projects asphalt sales in 4Q17 of at least 400,000 tons from an increase in domestic demand and government project disbursement. (Thun Hoon, 20/11/17)
Comment: Trading rather fairly at the moment, a former darling of ours
UREKA
UREKA shows solid backlog of Bt360mn, of which 70% will be booked as revenue this year. It is submitting bids for new projects worth Bt250mn, with results for 40-80% expected to be announced this year. It expects 4Q17 to be this year’s best . (Khao Hoon, 20/11/17
VGI
VGI has budgeted Bt105.23mn to buy 25% of PBSB, an OOH media provider in Malaysia. It expects the deal to be done in February 2018. (Thun Hoon, 20/11/17)
Comment: A trip to KL this week just confirmed my fear for the country, if you’re not related to the government you don’t have a domestic business.
WHA
WHA expects 4Q17 results to be the highest this year. It plans to COD 1 power plant in 1Q18 and is in the process of negotiation to sell 40-50 rai of land in Vietnam. It believes 2018 revenue will be higher than the 2017 projected revenue of Bt13bn. (Thun Hoon, 20/11/17)