ADVANC FY19 came after close at Bt 31.19b +5% yoy; missed Bt 32.18b consensus, pays interim Bt 7.34 dps, XD Feb 19.

Comment: It’s a dividend payer, if 5G bids and capex are too strenuous it should comfortably maintain its DPS ratio, perhaps even an increase?

AOT: report Feb MTD passenger arrival at SIA drops 60k/d yoy to 140k vs 200k average/day in Feb19; DMK sees Chinese travelers drops by 8k/day from 10k to 2k, flights from China shrink to 38/d from 50.

Comment: AOT’s #s are going to look rubbish for the first few months of this year. Effectively I think the information will be clearer by 

CRC: sets IPO price at Bt 42 apiece, listing on February 20, will be added into SET50 index w/in 3 days following debut.

Comment: And another name will be kicked out. Amazing how quickly the SET changes for the big names…

GPSC: 10mw Rayong waste to power projects on track to cod in 4Q, in talk to buy 9 solar projects combined 39.5mw, expects to wrap up before end of year.

SAWAD: expects to be added into FTSE index upcoming reshuffle announcement on Feb 21, effective March 20,20.

SIRI: report Jan SDH presales topped Bt 1.5b, sees sales turnaround after shift focus to affordable townhome Bt 2m to 3.5m.

Comment: That’s decent. So real demand still exists in the market, but there’s a big question mark regarding their condominiums. 

TCAP: to book Bt 3b gains (Bt 2.7/share) from disposal of Ajinomoto (TH) in 1Q20, Bt 6b buyback prog kick-off Feb 11, will retire 8% of treasury shares to boost EPS.

Comment: If you look over the past 5 years, TCAP has been the best performing bank.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.