ANAN
ANAN launched IDEO Ratchada-Sutthisan condominium worth Bt1.6bn, boosting sales in 3Q18. Unit price starts at Bt2.49mn. It has contracted CIMBT to issue subordinated debentures at a rate of 8.5% for the first five years. It plans to sell the debentures to local institutions and HNWIs on Sep 20-25. (Thun Hoon, 12/9/18)
Comment: Everything is still firmly on track for this company. Although I am curious about the supposed oversupply of condominium units throughout Bangkok. It’s been a story for years but has yet to materialise for locations near the mass transit stations.
D
D expects 3Q18 results to grow. It will start to book revenue from Dental Vision in 3Q18. Management is working to increase sales and expects revenue growth of 20-30% this year. It has Bt30mn to invest. (Thun Hoon, 12/9/18)
FTE
FTE expects to be awarded a Bt200mn project in 2H18. It targets revenue to reach Bt1.08bn this year. It expects 2H18 results to be better HoH. Backlog is Bt400mn and 60-70% of backlog will be booked as revenue this year. (Kao Hoon, 12/9/18)
JWD
JWD is expanding into cold storage in Mahachai. The new cold storage will use robotic machines instead of manual labor. The project is divided into two phases with budget of Bt460mn. The first phase is expected to complete in 3Q19. (Kao Hoon, 12/9/18)
Comment: A lot of questions regarding this co, their facilities seem to be full domestically but question marks remain over there international investments
MEGA
MEGA targets revenue growth of 6-10% this year. It plans to introduce 6-7 products to raise sale volume. It is looking for a partner to enter Indonesia in 2H18, raising revenue from abroad. It plans to set up a pharmaceutical factory in Myanmar in 2019 to raise production capacity. (Thun Hoon, 12/9/18)
Comment: It’s been a margin expansion story for MEGA, curious to see how far this continues.
SAT
SAT expects 2018 earnings to be record high, supported by cost control and increasing orders. It plans to acquire a domestic auto part manufacturer with Bt1bn cash in hand. It will do a roadshow in Singapore this month. It expects 2H18 results to be better (Kao Hoon, 12/9/18)
Comment: Still one of the best auto manufacturing parts co in Thailand 
SAWAD
SAWAD expects results to reach target. It targets loan growth of 20-30%. It is keeping NPL ratio at below 5-6%, now at 5%. It has raised Bt1.5-2bn deposits through BFIT to reach Bt7bn. (Kao Hoon, 12/9/18)
TKS
TKS expects revenue to reach Bt2.3bn this year, supported by more orders and a growing printing industry. Current backlog is Bt800mn which will be booked as revenue this year. It expects the general election to boost orders in 2019. (Kao Hoon, 12/9/18)
TSR
TSR has revised its strategy to emphasize tele-sales and digital distribution, which will decrease distributor cost and raise earnings. It expects sales volume to increase through tele-sales and digital distribution. Nevertheless, it expects 2018 revenue to be close to last year due to low season. It has kept NPL ratio at less than 5-7%. It has expanded into Laos, Cambodia and Vietnam. (Thun Hoon, 12/9/18)
Comment: Absolutely rubbish management. They’ve achieved nothing they’ve promised in the past 3 years.
UAC
UAC announced a dividend of Bt0.1 per share with XD on Sep 24 and payment on Oct 9. Management says biodiesel has recovered. Backlog is Bt1bn. It expects revenue to reach Bt2.5bn this year. (Thun Hoon, 12/9/18)
WHAUP
WHAUP expects 2018 results to be outstanding. It will raise electricity capacity generation by 33MW this year, increasing its total electricity capacity generation to 553MW. It is dealing with both local and foreign partners to distribute natural gas in Hemraj Eastern Seaboard 3. It is running a solar rooftop business. (Thun Hoon, 12/9/18)

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