2S
2S targets steel sales of 180,000 tons/year with an investment budget of about 5% of total assets. It also plans to improve machine efficiency which it expects will boost 1H17 performance. It also plans to expand to CLMV on the back of high demand. (Thun Hoon, 17/02/17)
ACAP
ACAP posted 2016 revenue of Bt468.8mn, up from Bt314.6mn last year, with net profit of Bt212.4mn, up from Bt237.6mn in 2015. It targets loans to reach Bt6bn this year from last year’s Bt4.5bn. (Thun Hoon, 17/02/17)
AMA
AMA took delivery of a new tanker worth Bt449mn. This raises total capacity to 59,660DWT (+27.85%). It expects this to contribute revenue in 1Q17. (Kao Hoon, 17/02/17)
ANAN
ANAN plans to hold a roadshow in Asia to attract foreign investors. It expects this to take place this year. It plans to launch new projects worth Bt36bn that will raise backlog from Bt41.3bn. (Thun Hoon, 17/02/17)
Comment: I’m curious to see how successfully they’ll be able to transfer units.
 
BEM
BEM expects to report 2016 performance on Feb 22. It expects its mass transit business to show a net profit. It expects 2017 revenue to grow 20% brought by 5% passenger growth and revenue contribution from the Purple Line. It expects the Blue Line extension to start operations within two years. (Kao Hoon, 17/02/17)
DRT
DRT expects 2017 revenue growth of 5% by focusing on expanding its distribution channels (full multi-channel). It is budgeting Bt200mn to improve machinery and expand its warehouse. It expects to increase its capacity by 10% when the economy recovers. (Kao Hoon, 17/02/17)
KCE
KCE reported 2016 net profit of Bt3.03bn (+35%) with sales of Bt13.79bn (+10%) mainly driven by higher production efficiency from new plants. (Kao Hoon, 17/02/17)
Comment: Analysts are writing that copper prices have hurt their margins, but by the looks of the latest numbers this manufacturer continues to be doing just fine.

 
KOOL
KOOL expects 2Q17 performance to be good on seasonality and the introduction of products at modern trade outlets. It targets 2017 revenue to grow 40%. It expects exports to comprise 25%. It is budgeting Bt30mn to introduce new products. (Thun Hoon, 17/02/17)
Comment: They have actually be damn successful with their product. 
 
MAJOR
MAJOR expects admission revenue to grow 15-20% this year on the back of a good movie lineup. It is budgeting Bt1-1.2bn to add 70 screens. It recently cooperated with Bangkok University to launch “Movies Boost Up”, which it expects will increase Thai movies to 50%. (Kao Hoon, 17/02/17)
Comment: I’ll say it again and again, its a monopoly in Thailand, it should become one in Cambodia, Laos and maybe even Myanmar.
 
ML
ML expects 1Q17 to be good after steady growth in its loan portfolio. It expects 2017 loan growth of no less than 20% from 2016’s Bt4bn and will keep NPLs at 2.5%. (Thun Hoon, 17/02/17)
NDR
NDR reported 2016 net profit of Bt56mn or growth of 63%, supported by revenue growth of 7.35% to reach Bt855mn, and cost reduction. It expects 2017 revenue to grow 10-15% as it expands abroad. It will pay a dividend of Bt0.097/share, XD on Apr 7. (Kao Hoon, 17/02/17)
PK
PK is increasing capacity by 10%, which is expected to finish in 1Q17. It plans to launch two new products. It will expand its foreign customers and has a 2-3 years (2017-2019) target for export revenue proportion to go over 30%. (Thun Hoon, 17/02/17)
PLANB
PLANB targets 2017 earnings growth of more than 20% driven by its two core businesses: advertising and rights distribution and management for FAT and PLT, for which it receives a fee of 20% of income. It reported revenue from sports marketing of Bt26.7mn in 4Q16. (Thun Hoon, 17/02/17)
RATCH
RATCH has budgeted Bt10bn to increase capacity by 7,500MW. It is negotiating to buy a 250MW power plant in Indonesia and a 1,200MW power plant in the Philippines, with conclusion expected this year. It reported 2016 profit growth of 93% and will pay a dividend of Bt1.25/share, XD on Mar 1. (Kao Hoon, 17/02/17)
SCP
SCP expects 1Q17 to be good, backed by orders from reconstruction in the south and government projects. This will lift its utilization to 80% from 50-60% in 2016. It targets 2017 growth of 20% and plans to study new investment. (Thun Hoon, 17/02/17)
Comment: With the dual track + the floods in the south, SCP should be ok for the next 2 years, silly amount of cash on its balance sheet.
 
SMPC
SMPC is talking to a party to invest in a new plant with expected capital investment of Bt300-40n. It also studying investing in South Africa and Asia Pacific. It targets 2017 revenue to grow 15-20% from increasing capacity to 7.2mn units/year. (Thun Ho on, 17/02/17)
TACC
TACC plans to launch new products to align with 7-Eleven store expansion. It expects sales growth of 10-15%. It plans to launch an energy drink (Jump Start) in Cambodia, which is a large market (Bt10bn). It expects revenue to mark a record high. (Thun Hoon, 17/02/17)
Comment: Well ok. but hmmm it’s now trading at THB 5.3 bn so…..
 
TASCO
TASCO reported 2016 net profit of Bt3.11bn with sales of 2.06mn tons. It will pay a dividend of Bt0.6/share, PD on Apr 29. It continues to expand with low D/E of 0.59X. (Thun Hoon, 17/02/17)
TSR
TSR expects 1Q17 to be good, supported by restorations after the floods in the south. It plans to open five new branches. It is negotiating with a party to launch new product, get into the leasing business and a business in Laos, which will lift 2017 revenue to reach Bt2bn. (Thun Hoon, 17/02/17)
Comment: I suppose people do need new home water filtration systems, washing machines and TV’s. 
  1. I held SCP for 2 years until I needed money in October last for a house. It was consistently disappointing. Will SCP ever be successful for investors?

    • Yes and No
      No:
      1. It’s gone from 1.5 to 9.5 in 5/6 years, I wouldn’t call that a disappointment.
      2. 2012-2014 were great years post flood
      3. 2017-2020 could be another set of goods with the dual track
      4. 1/2 the market cap is in cash and money market funds

      Yes
      1. The last 2 years there hasn’t been much infrastructure, so naturally not much spending nor business for SCP
      2. Management isn’t that open towards investors
      3. Capital allocation isn’t the best in the world given their high cash levels and dividends not being increased.

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