AKR
AKR is confident that performance in 2Q18 will turn around with continual negotiation on power supply projects with both the government and private sectors .Backlog value is Bt300mn .The company aims to join the solar rooftop project with Bt500-600mn value and expects to know the outcome by 2H18. (Thun Hoon, 4/6/18)
Comment: Ridiculously low backlog for the firm
AP
AP plans to launch 43 projects this year with total value of Bt64.75bn .Of these, the launches of 35 projects with total value of Bt54.38bn will be in 2H18 .5M18 presales was Bt14.64bn. (Kao Hoon, 4/6/18)
Comment: That’s a huge number of projects coming up from AP. If they all work out then yes its cheap. 
BCPG
BCPG was selected to install the solar rooftop for Chiang Mai University with total capacity of 12 MW to supply electricity to the university for 20 years. (Kao Hoon, 4/6/18)
BGRIM
BGRIM says the new ABPR4 project will come on line soon, adding 133 MW to bring its portfolio to 1,912 MW .Management said the company was ready for a steady stream of startups with a target of reaching 2 GW. (Kao Hoon, 4/6/18)
Comment: A lot of noise around the potential delay/cancellation/move of the 240 MW’s
BJCHI
BJCHI expects 2H18 performance to improve YoY with a number of projects in the pipeline . Management said that the company will join new project bids with total value of Bt10bn and expects to win two projects with total value of Bt3.0bn in 3Q18. (Thun Hoon, 4/6/18)
COL
COL expects 2Q18 performance to improve from 1Q18 from strong order flows. It has an investment budget of Bt500-600mn to add 7-8 branches .The company is currently negotiating 3-4 M&A deals with the conclusion expected this year .Revenue growth target is 15%. (Thun Hoon, 4/6/18)
Comment: So its proven that this is no longer an ecommerce company. Does it just imply what we all know, ecommerce whilst sexy, doesn’t work yet in Thailand
DDD
DDD is expected to benefit from China’s reduction of import duty on cosmetics and skin care items .According to management, 10 product items already are marketed in China and there are more to come. (Kao Hoon, 4/6/18)
ICN
ICN is waiting for a Bt2.0bn project auction outcome which it hopes will be by next month. It is also joining other project bids .If the company wins projects, the revenue growth target would be revised up to 30-40 .%Current backlog value is Bt580mn, with 80-90% expected to be recognized this year .2Q18 performance is likely to be similar to 1Q18, according to management (Thun Hoon, 4/6/18)
SSP
SSP currently has 74.4 MW capacity based on operating assets with the expectation of startups of 90 MW capacity this year, which would raise portfolio to 193.8 MW, up 160 %from current level .1Q18 earnings increased 4 %YoY to Bt106.55mn .2018 revenue growth target is 10) .%Thun Hoon, 4/6/18(
SUPER
SUPER share price fell to the floor last Friday .There was the rumor that Mr .Pradej Kitti-itsaranon, one of the major shareholders, sold shares in order to get funds to invest in wind energy. (Kao Hoon, 4/6/18)
Comment: Well he did sell the shares, it was announced by SUPER today, to the Chairman of SUPER, and yes he is a major shareholder of WEH @ 40%ish 
SYNEX
SYNEX targets revenue growth of no less than 15 %this year to Bt37.5bn, supported by an expanded customer base. It will add 5-6 brands to its portfolio this year .2Q18 performance is expected to be strong. (Thun Hoon, 4/6/18)
TGPRO
TGPRO’s 2Q18 performance looks good with the baht depreciating against US dollar and strong order flows .This year’s revenue growth target is 10-20 .%New production line with 2,000-ton capacity will start operations in 3Q18 to raise total capacity to 20,000 tons by end of this year. (Thun Hoon, 4/6/18)(
TMB
TMB has revised up its GDP growth forecast for 2018 to 4.5 %from 4.2 %as the global economy is steadily improving. It expects Thailand’s policy rate to increase to 1.75%, in line with the global interest rate trend .The Thai baht should continue to appreciate to Bt31.15/US$ .The bank forecasts overall loan growth in the Thai commercial bank system at 5.5%, up from 5.3 %previously expected, after retail and SME loans recover. (Thun Hoon, 4/6/18)
Comment: This is the first bank that is actually forecasting a strengthening of the THB.
TPOLY
TPOLY reports backlog orders of Bt3bn that will be recognized in 2018 .This should boost its revenue growth by >10 %this year as targeted .The company will continue to increase backlog orders by participating in auctions to supply equipment to six power plant projects )60MW (worth Bt3bn .It will attempt to maintain gross margin of 25.85%. (Thun Hoon, 4/6/18)
Comment: Hurt along with TPCH due to the comments from the Energy Minister
TRT
TRT estimates that its revenue from exports could reach Bt500mn in 2018 after receiving orders from Singapore worth >Bt402mn .It expects to get more overseas orders from Australia .Management is confident that its earnings performance will turn around this year with revenue growth of 15-20 %to Bt2.9bn from the current backlog of Bt2bn and increasing .More backlog will be added from new auctions worth Bt10bn with the company expecting to get 20-25%. (Thun Hoon, 4/6/18)
TVD
TVD says it will get more Bt30mn more in revenue from Spring News Channel, which will boost 2Q18 performance .It expects an earnings turnaround this year with revenue growth of 17 %to Bt3.99bn .It plans to improve gross margin to 48-49 %and to spend Bt10mn to expand outlets. (Thun Hoon, 4/6/18)
WHA
WHA is able to close the sale of land of >100 rai to date and sale of 600 rai to 5-6 more customers will be concluded in the near future, including European automakers .The company targets to sell 1,400 rai in 2018 with more positive news to be announced in the next 1-2 months .It will accelerate the deal with customers in the logistics industry and will continue to expand to Vietnam and Myanmar. (Thun Hoon, 4/6/18)
  1. Pon, what was the rumour? Was it that he wanted to increase stake in WEH possible try to take a controlling stake?

    Xav

    • just that he sold his shares in super to buy weh at 500-600 / share. its on kaohoon’s website.

      if its true is a different question because you can see from super’s release today that he did sell ~THB 2.8 bn worth of shares. Not quite enough to take a controlling stake in WEH.

      • Sorry what I meant was to buy WEH to increase his holdings to that of a controlling stake. Very interesting if he paid that price for WEH, what will it IPO at I wonder?

        • i still suspect 700 for the ipo should it ever be filed…

          although today kaohoon “reports” that he initially borrowed funds to pay for the stake in WEH, hence why he had to sell a stake in SUPER. who really knows…

          • An interesting fact, Nusa has the right to return the 1% of WEH purchased for a full refund plus interest if WEH doesn’t IPO this year…

          • Who would buy it back? The company? I’m guessing this is part of the news release they had years ago when they took the stake.

  2. Yes the seller, which from memory is DD Mart I think?!? is obligated to buy it back or refund the purchase funds plus interest if the IPO doesn’t take place by middle of this year, it was in the original terms and conditions..

    • Ok I went hunting for the info, here you go

      http://nusa.listedcompany.com/newsroom/301020150815090027E.pdf

      Who owns DDMART?
      The lists of major shareholders’ name of DD Mart Holding Company Limited as of 15 July 2015 are as follows: Mr.Kamthorn, Ms.Jenjira, and Ms.Nanthida Kitti-Itsaranont each holds 25.40 percent of shares. Mr.Pradet Kitti-Itsaranont holds 3.46 percent of shares.Therefore, the Kitti-Itsaranont Group holds 79.66 percent of shares

      But couldn’t find the sharebuyback clause

      • I believe it may be a note in Nusa annual report but I’m certain I have seen the buyback clause somewhere mentioned by Nusa.

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