AMATA targets 2018 land sales at 925 rai, with 10% of that ready for contract signing. It currently has backlog of Bt1.9bn, of which 50% will be booked as revenue this year, raising 2018 revenue at least 10%. It is also going to book revenue from three power plants. (Thun Hoon, 06/03/18)
Comment: So not quite the story that everyone is pricing in just yet
EGCO says it plans to build an industrial estate in Rayong, which it expects to finalize this year. It projects 2018 earnings growth of at least 6% and plans to maintain ROE at 10%. It has budgeted Bt12bn to invest in three power plants with total capacity of 544 MW. (Khao Hoon, 06/03/18)
GUNKUL targets 2018 revenue to grow by at least 15% and expects to start commercial operation of 190 MW in solar and wind farms this year. It says it is going to close the deal on a wind farm in Malaysia and targets PPA to reach 1,000 MW in the next three years . (Khao Hoon, 06/03/18)
HUMAN says it is going to close one M&A deal in March out of three deals under negotiation. It has budgeted Bt100mn for investment and plans to launch a new product related to human resources. It believes 2018 revenue will grow by 20-30%. It is going to conduct a roadshow in Hong Kong at the end of March, aiming to increase the shares held by institutional investors. (Thun Hoon, 06/03/18)
Comment: I don’t quite understand why companies such as HUMAN and NETBAY are trading at these ridiculously high valuations. Yes I understand that there is a natural control of Thai IT companies in the market here given the need for the Thai language, but please…even google and facebook are cheaper on a valuation basis.
SC targets condominium presales in 2018 at Bt5.2bn. It is going to launch and open presales for Centric Ratchayothin worth Bt1.5bn on March 10-11, and expects presales to reach 70% of project value. (Khao Hoon, 06/03/18)
SSP expects to close deals for investment in solar farm and biomass power plant with capacity of 5-50 MW in 2-3 countries in 2Q18. It plans to issue a Bt1bn bond in 2H18 and targets production capacity to grow by 55.04% annually on average for the next three years. (Khao Hoon, 06/03/18)
STAR says trading will be its core business after it has restructured, as this has the best margin of its three businesses. It plans to join the dual-track train project worth Bt3bn as a construction materials supplier. It also plans to invest more in recycle and media businesses and expects 2018 earnings will continue to rise after turning around to Bt287mn in 2017. (Khao Hoon, 06/03/18)
Comment: Oh this is back? Dual track construction materials? Media? Recycling? Trading? The players behind this are putting together a good story, its going to use media to recycle the construction materials that it trades, slap a 50x PE on this baby!
STEC has signed contracts for the Pink and Yellow lines worth total Bt7.83bn, raising its backlog. These will provide revenue for the long term. (Thun Hoon, 06/03/18)
WHAUP plans to issue a Bt5bn bond to repay debt of Bt4bn, which will lower its cost of funds from 4.25%. It says this will raise earnings substantially and expects 2018 revenue to grow by 15%, backed by higher utility sales and the booking of profit sharing from power plants. (Khao Hoon, 06/03/18)