ANAN says the new BoT mortgage loan rules does not impact its business because its condos are priced below Bt10mn and it targets mid-income customers who are able to pay a high down payment. It also says all hybrid bonds are sold and met target proceeds of Bt2bn. (Thun Hoon, 8/10/18)
Comment: The one positive of the BOT’s recent ruling is that it isn’t as stringent as what one sees in HK and Singapore, then again the market dynamics here are different.
ATP30 expects to benefit from investment promotion in EEC. It expects many new customers. It targets revenue growth of 20% this year and expects to see more growth in 4Q18. (Thun Hoon, 8/10/18)
BANPU is investing in Vietnam. It expects to be awarded a wind power plant project by the Vietnam government. It expects to sell coal in Vietnam and to this end, will deal with coal power plants in Vietnam. It expects strong demand for coal. Average coal price is expected to be US$85/ton this year, higher than last year. It says coal sales volume in 2H18 will be better than 1H18. The THB appreciation is a benefit. It plans to develop SMART CITY and become an integrated energy provider. (Thun Hoon, 8/10/18)
Comment: Banpu starts to sound too much like a “metoo” company.
CHAYO signed a Bt188mn debt purchase contract with TMB, increasing its total loans to Bt9.2bn. It targets total loans of Bt10bn this year and is negotiating to purchase six batches worth a total of Bt8bn. It targets revenue growth of more than 10% this year. As for its real estate business investment, a decision will be made next year. (Thun Hoon, 8/10/18)
CHG expects 4Q18 results to be a record high, supported by an early and longer rainy season which has raised bed utilization to 70-80%. It has operated Chularat 304 hospital for a full quarter as well as the first phase of Chachoengsao Central hospital. It expects revenue growth of 15-20% this year. It has budgeted Bt250mn to establish two new hospitals. (Thun Hoon, 8/10/18)
FPI cancelled a deal with TSE to invest in a 176.52MW solar farm in Japan after FPI canceled the purchase of 40% in TSEO, TSE’s subsidiary. It says the bank is not supporting the deal. TSE says the cancellation will not affect its fundamentals and it is looking at another company. (Kao Hoon, 8/10/18)
Comment: So…FPI…what are you doing? TSE needs a partner for this, b/s isn’t large enough to do a project this size on their own
HMPRO is continuing to develop its private brand and is highlighting the good design, features and function at an inexpensive price. It hopes to meet demand from all customer segments. It targets revenue from its private brand to reach 25% of total revenue in the future. (Kao Hoon, 8/10/18)
Comment: These private brands drive the margins
HUMAN has budgeted Bt70mn to acquire software companies both at home and abroad. One acquisition will be clear by yearend. It expects 4Q18 revenue to grow YoY, supported by an expanded customer base. It plans to introduce five new products at end-November to early December, increasing its revenue growth by more than 20%. (Thun Hoon, 8/10/18)
LPN expects to launch four property projects in 4Q18 with total value of Bt6.5bn, boosting presales to reach its target of Bt180bn. 9M18 presales are Bt14bn. It believes the new BoT mortgage rules will affect client decisions. (Kao Hoon, 8/10/18)
VGI is expanding advertising locations rapidly. It is focusing on Kerry, a delivery company, and plans to expand abroad in the future. It targets revenue growth of 15-20% in FY2018. It expects a net profit margin of 20-25% and utilization rate of 56%. (Thun Hoon, 8/10/18)