AGE reported that 1H18 coal sales volume broke its target of 1.8mn tons. It expects 2018 sales volume of 3mn tons supported by Chinese imports, which were the highest in 54 months. It has already exported 200k tons coal to China. 2Q18 earnings were Bt46.5mn, +39.25%YoY. (Thun Hoon, 9/8/18)
MGT is negotiating for an investment in Cambodia with a budget of Bt5mn. It expects 3Q18 results will be better. It plans to increase revenue contribution from food-related chemicals to Bt30mn, raising total revenue to Bt730-750mn this year. Backlog is Bt100mn. The board announced a dividend of Bt0.04. (Thun Hoon, 9/8/18)
MTC insists it will not raise interest for at least a year although interest rates are clearly ready to move up. It explains that it has sufficient liquidity, supported by its credit line of Bt9bn from commercial banks. It is applying for a line of credit from several banks. (Post Today, 9/8/18)
Comment: I do wonder if they will do what SAWAD cleverly did which was to secure licenses necessary to conduct their business. MTC doesn’t have any licenses in place, operates in a bit of a grey area. But their numbers look great regardless
PTTGC reported 2Q18 earnings of Bt10.8bn, +64%YoY, supported by strong growth in its petrochemical business. 1H18 earnings were Bt23.2bn. It already booked reserves for the inventory loss at subsidiary GGC in 2Q18. It budgeted Bt4.1bn to acquire a PTA-PET business from SCC-Mitsui. (Kao Hoon, 9/8/18)
SEAFCO expects to book Bt600mn per quarter from The One Bangkok project through 2Q19. it expects revenue growth of 30% this year and expects net margin at over 11.52%. (Thun Hoon, 9/8/18)
SUN expects 2H18 revenue to grow YoY. It targets revenue growth of more than 10% this year, supported by THB depreciation and high season. Sales volume is expected at 120k tons this year. It is negotiating with 2-3 putative partners, expecting some decision next year. (Thun Hoon, 9/8/18)
TAKUNI reported 2Q18 earnings growth of 76.74%YoY, supported by rise of gas & oil construction services revenue. It expects revenue to reach Bt1.9bn this year. Backlog is Bt2.1bn, of which it expects to realize Bt600mn this year. (Thun Hoon, 9/8/18)
THAI expects to sign on a partner to do a joint venture for a maintenance center at U-Tapao airport in November. It expects to sign a contract within this year and estimates investment of Bt2bn in phase 1. (Thun Hoon, 9/8/18)
Comment: And yet they are still losing money….corruption really is just another form of tax. Can you imagine that corruption ceases to exist in Thailand and the earnings of everyone/every computer increases by 20-30%, IRR’s increase, capital markets increase…
TISCO maintained its NPLs at 2.7%. It expects 2018 performance to grow YoY as a result of low provisions and increasing non-interest income. It expects new loans of Bt50bn, mainly car loans. However, total loans are expected to shrink 5% because corporate and SME loan have not recovered yet. (Thun Hoon, 9/8/18)
Comment: NPLs at 2.7? Right…
TPCH reported its 2Q18 financial statement. Earnings grew 123% YoY. Management says both revenue and profit will continue to grow. It expects to record its highest ever earnings this year and targets electric capacity of 200MW from biomass power plant in 2020. (Thun Hoon, 9/8/18
Comment: Similar with every other renewable player that listed in the past few years, earnings are going to continuously increase until all their MW’s are up and running

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