AAV expects to lose 300,000 Chinese passengers during 1Q20, as flights to China make up 30% of its total rev, to ramp up India and Japan routes.
Comment: Well given the Thai government’s response to the virus I doubt that the international travelers from India and Japan are going to make up for the short term losses from Chinese travelers.
CHAYO expects to wrap up NPLs acquisition deal worth Bt1b from JPN finance institution within 1Q, aims to buy Bt10b bad debts from Bt500b in the system this year, mulls M&A to boost inorganic growth.
Comment: These group of companies are having fun with the amount of bad debt that the banks have.
GOLD upbeats FY earnings from strong OCC rate above 95% at Samyarn Mitrtown mall, better than expected traffic at 70k-80k average/day.
KKP sets 7-9% loan growth target, rev boosted by CRC and PTTOR IPOs, while NPLs falls, strong NIM from lower interest costs.
Comment: That is quite an ambitious growth target set by KKP and this is without real estate, so would the loan growth be driven by the face that larger commercial banks are stricter with their loans?
LPH expects record high revenue at Bt2b, +25-30% yoy from 10 medical centers, rise in SSO’s contribution, mulls listing of AMARC in 3Q.
SEAFCO wins foundation work projects for Shrewsbury int’l school and Rama-3 tollway extension worth Bt323.4m.
SPALI plans 30 new pjs worth Bt30b, targeting Bt26b presales and Bt24b revenue, supported bt Bt38.655b backlog, of which Bt10b to be booked this year.
Comment: That’s a massive number of projects, what real estate slow down?
Cabinet signed off 35.9km West MRT Orange line projects (Cultural center – Bang Khun Nont) total 28 stations, worth Bt128b, positive STEC, CK, SEAFCO, PYLON.
Comment: More positive for BTS and BEM than the contractors, though I do think the construction material players should benefit as well. .