AH
AH expects revenue to grow in line with growth in the automotive industry. 4Q18 revenue is expected to be better, backing its revenue growth target of 5% this year. (Thun Hoon, 27/11/18)
KBANK
KBANK continues to expand in ASEAN+3. Laos is its potential target. Private sector growth in Laos will help underwrite loan growth. It says it has had services in Laos for four years and it has no NPLs. It expects loan portfolio to reach Bt3bn in 2019. It is preparing to provide a business matching service for customers, which it expects will lead ROE into growth of 10%. It expects its loan portfolio to reach Bt2.4bn this year. (Thun Hoon, 27/11/18)
MACO
MACO board approved the purchase of 60% of GSG for Bt240mn. It continues to provide full services, from consulting to media planning, production and installation as well as marketing. It will renovate its advertising on street furniture around BTS pillars with a budget of Bt39mn. (Thun Hoon, 27/11/18)
Comment: And the expansion of MACO continues
ORI
ORI is studying a share repurchase program after a plunge in share price. P/E ratio is attractive at a low 4.7-4.8x. It expects performance to be better. In 4Q18, it will launch two condominiums with total value of Bt3bn, pushing revenue to reach Bt16bn this year. (Kao Hoon, 27/11/18)
Comment: Management has been buying shares back in the market .
PTL
PTL expects FY2018 (April 2018 – March 2019) sales volume to grow by 2-3%. It expects 2HFY18 to slow because of low season. However, 6% growth in global plastic film demand will push up its business. (Thun Hoon, 27/11/18)
Comment: Before we called PTL the baby IVL, now its more of the ant-sized version of IVL
SIRI
SIRI has budgeted Bt3bn to do a 1,486mn share repurchase during December 2018 – June 2019 as it is confident in its solidity. It says its presales were a 34-year high. It expects earnings growth to increase ROE, EPS and dividend. It confirms its 50% dividend payout ratio with attractive dividend yield of 9% now. (Kao Hoon, 27/11/18)
Comment: The second property company to launch a share buyback, first was LPN.
THAI
THAI speeds up airplane purchase plan to ask for board approval in December. It plans to buy 23 airplanes for Bt100bn. If approved, it expects the procurement process will be completed in two years. Management admits that the company has lost 10% of its market share. Average cabin factor is expected to be 80%. It is trying to increase revenue from supporting businesses. (Thun Hoon, 27/11/18)
Comment: New planes, lets see how far above market prices they are paying for these…
VCOM
VCOM was assigned a Bt200mn job. It expects to complete this job soon. Management says it plans to provide I-SECURE service in CLM countries which have high demand. It will send its 2019 business plan to the board for approval on Dec 12. It targets revenue to reach Bt1.6bn this year. It expects 4Q18 performance to be better. (Thun Hoon, 27/11/18)
WICE
WICE is dealing to acquire logistics companies in Asia, hoping to expand its transportation business. The conclusion will be known next year. Management expects revenue to reach Bt3.3bn in 2021 and this year’s revenue target is Bt1.8bn, driven by business expansion (Thun Hoon, 27/11/18)
Comment: I have been impressed by their continued ability to find acquisitions throughout the region 

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.