ACAP to sign an MOU to lend more than Bt1.2bn to a company under GGC. It recently gave a Bt400mn five-year loan. ACAP targets Bt6bn in loans in 2017. It expects good growth in both 3Q17 and 4Q17. It plans to list a subsidiary. (Khao Hoon, 29/8/17)
Comment: Since they’ve come under new ownership ACAP has been incredibly aggressive growing its loan book
CENTEL expects better earnings in 2H17 than in 1H17. It believes 2017 revenue will reach Bt20bn, driven by the occupancy rate of 81-82%. It plans to invest Bt2bn to expand its hospitality and restaurant businesses. It aims to have 54 hotels in 2019. (Thun Hoon, 29/8/17)
CHOW has invested in a power plant in Japan, Iwaki, with power production of Bt26.68MW, boosting its total power production to reach 70MW. It plans to boost its COD target by more than 100MW in 2017 to push the power business strongly. (Thun Hoon, 29/8/17)
GL got early repayment of loans. GL said a Cypriot borrower group has pays off its Bt440mn loan, with interest of Bt16mn. ( Khao Hoon, 29/8/17)
Comment: The drama between Kao Hoon and GL will one day be written into a soap opera on CH3
Cashed-up GMM set for content boost. GMM Channel Trading is planning to spend around Bt1 billion of new capital next year on business expansion, including adding new content for its GMM 25 terrestrial digital TV channel. (The Nation, 29/8/17)
Comment: Well..ok, I still view the digital TV industry as a one horse race, Workpoint vs the rest.
KBANK invested Bt600mn to take 9.99% of Bank Maspion Indonesia, which is ranked 72th in terms of asset value. This move is in line with its strategy to expand in AEC+3. (Khao Hoon, 29/8/17)
Comment: It was at a 60% premium to the market price yet and yet Bank Maspion barely moved
PCSGH expects 2017 earnings will grow, driven by a turnaround in the automotive industry. It plans to install a 2MW solar rooftop to reduce electricity expenses. (Khao Hoon, 29/8/17)
PTT says its cooperation and store expansion with 7-Eleven is continuing. It plans to use Jiffy internationally, specifically CLMV. (Thun Hoon, 29/8/17)
TKN believes 2017 revenue will grow more than 10%. It plans to launch two new products and increase production capacity at its new factory by 4000 tons. The first phase is running with production capacity of 2000 tons. (Khao Hoon, 29/8/17)
Comment: Not sure that 10% revenue growth is enough to justify a 36x multiple for this company.