AAV
Srivaddhanaprabha family sold back 1,761.58mn or 36.30% of AAV shares to Mr. Tassapon Bijleveld FOR Bt4.70/share, which give it a profit of approximately Bt880mn. After the sale, Mr. Tassapon holds 41.32% and is going to do a tender offer, pricing the shares at Bt4.70. (Khao Hoon, 28/12/17)
Comment: Wait they did what? Why buy it in the first place? 
D
D says 4Q17 revenue will make a new high, backed by increasing foreign customers. It targets 2018 revenue to grow by 10-20% and plans to open four outlets, with estimated investment cost of Bt5-10mn/outlet. It expects to close the deal on acquisition of a dental equipment distribution business in 2Q18. It expects this acquisition will double its revenue and earnings. It also expects its dental hospital will open in April 2019. (Khao Hoon, 28/12/17)
Comment: Unlike LDC it seems that this dental company knows how to make a profit
MONO
MONO says its digital TV business is doing well, with ratings for MONO29 channel rising to 3rd place on December 4-17, backed by the outstanding content of its TV programming . (Khao Hoon, 28/12/17)
S
S signed a contract with Regus center to rent a building, The Office at Singha Complex. Singha Complex is a mixed-use project, with an area of 1,172 sqm. It expects to open this project in 2Q18. (Khao Hoon, 28/12/17
SIRI
SIRI closed the sales of two projects in Chiang Mai and Phuket and is going to close two more projects worth Bt2.1bn this year. It says this will raise presales to its target of Bt40bn. The proportion of revenue from foreigners has increased to 49%, with Thais taking the rest. (Thun Hoon, 28/12/17)
Comment: And that’s what is keeping a developer like SIRI alive, their ability to win customers from Singapore, Hong Kong and China.
SPALI
SPALI says 4Q17 revenue will make a new high, with a high amount of transfers. It reports backlog of Bt40bn, which will be booked as revenue in 2018-2020. It believes the real estate market will grow significantly in 2018. It plans to launch new projects and believes presales at the end of this year will reach its target of Bt27bn. (Th un Hoon, 28/12/17)
SUN
First day of trading for SUN. IPO price was Bt5.85. It reports 9M17 earnings of Bt111.49, which is equal to 2016’s whole year earnings. It believes earnings will continue to grow by at least 10% annually and plans to expand its sweet corn machine in order to support orders from overseas. (Thun Hoon, 28/12/17)
TKS
TKS projects 2018 revenue growth of 8-9% in tandem with economic recovery and increasing packaging orders. It reports current backlog at Bt700mn and plans to bid for new projects as they come up. It also plans to expand in both domestic and overseas markets and expects to increase the proportion of revenue from overseas to 10%. (Khao Hoon, 28/12/17)
UTP
UTP believes 2018 revenue will reach Bt2-3.5bn backed by increasing orders and economic recovery. It plans to expand storage area in its current factory to support rising orders. It projects domestic sales will rise by more than 20,000 tons per month. (Khao Hoon, 28/12/17)
Comment: Plus there has been an increase in capacity this year that, if filled up, should drive revenue, still think its rather fairly valued.
  1. Perhaps the king power family needs to raise cash to pay an upcoming large tax bill?

    On another note, good to see Demco starting to win some significant projects. These types of EPC projects traditionally much better margins than renewable works from the likes of EA and WEH.

    • I’m guessing its to cover payments for the new duty free contract they just paid for, but this is all speculation at best.

      Agreed on Demco revenues do decline by 1/3 but margins double so net-net a slight +ve

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