AOT
Ministry of Transport has given AOT one month to finalize the project to manage four airports to be transferred from the Department of Airports. The proposal will then be sent to the cabinet for approval. If the project is approved, the transfer of operations of these airports to AOT will be completed within one year. (Kao Hoon, 10/7/18)
ASAP
ASAP is preparing to open ASAP Auto Park phase 1 (an auto showroom) on July 20 to support the growing auto rental business. It has more than 1,200 used cars available this year. It expects 2018 revenue growth of 20-30%. (Kao Hoon, 10/7/18)
Comment: Still the same plan in place despite the volatility in the share price. But still an expensively rated auto leasing car.
BCH
BCH expects good 2Q18 results backed by rising cash patients. It expects record revenue in 3Q18 due to high season. It expects 2018 revenue and earnings will grow in the double digits. (Kao Hoon, 10/7/18)
BEAUTY
Treasury stock approved. BEAUTY’s board approved the repurchase of no more than 64mn shares or 2.13% of issued shares for no more than Bt950mn in a period running from July 24, 2018-January 23, 2019. (Post Today, 10/7/18)
Comment: But it hasn’t had a positive impact, perhaps just the usual sell on fact event. In the end it is positive for a company to buyback shares but the narrative is that the owner sold some THB 8 bn of shares over the years and is now using company capital (instead of personal) to buy back THB 950 mn
COMAN
COMAN expects to close a takeover deal in 3Q18. Its management says high season will support 2H18 earnings to be better than 1H18. It expects revenue growth of 15-20% this year. (Thun Hoon, 10/7/18)
EA
EA has started building phase 1 of the 1 GW battery factory. Operations are expected to start in 3Q19. Potential clients are those in CLMV who have high electricity demand. 2018 revenue and earnings are expected to be a new high after the commercial operation date (COD) of a new 664 MW project. (Kao Hoon, 10/7/18)
Comment: I still see a lot of issues with their business plan…
GULF
Court accepts case. GULF says the Central Administrative Court has accepted its appeal of the case with the Energy Regulatory Commission (ERC), which did not issue a LNG shipper license even though GULF had complied with the requirements. It is preparing to bid in the final round for a 300MW gas-fired power plant in Oman this month. (Thun Hoon, 10/7/18)
NDR
NDR revealed is 2H18 business plan. It targets expansion in both local and foreign markets. It has budgeted Bt30-50mn to invest in an automation system to reduce cost and raise production efficiency. It targets to reduce manual labor by 30-50% and raise revenue by Bt1bn. (Thun Hoon, 10/7/18)
SAT
SAT is preparing to receive new orders from foreign customers with a total value of Bt100mn in 4Q18. It expects 2H18 earnings to be better than 1H18 and confirmed that the automotive industry is continuing to grow well. Gross profit is likely to improve with no loss contribution from subsidiaries. (Thun Hoon, 10/7/18)
SKN
SKN says THB depreciation will support its 2Q18 earnings. 2018 revenue target is Bt1.58bn, backed by many orders and addition of production capacity. It is going to start an MDF splat manufacturing line in 3Q18. (Thun Hoon, 10/7/18)
TICON
TICON has entered into a JV with JustCo Singapore to set up JustCo Thailand to operate a coworking office and other related services in Thailand. (Thun Hoon, 10/7/18)
WHA
WHA expects record revenue in 2H18 supported by the government promotions for foreign direct investment. It maintains its land sales target at 1,400 rai this year. It will acquire more land in EEC for future development. It is also investing in the logistics business in Myanmar and an industrial estate in Vietnam. (Thun Hoon, 10/7/18)
Comment: But the CFO keeps selling, then again he has been for years…
ZIGA
ZIGA started up its new factory which has increased its capacity to 79,000 tons/year, supporting 2H18 performance to improve from 1H18. The company says it will book Bt200mn in orders in hand this year and plans to expand B2C distribution in 3Q18. (Thun Hoon, 10/7/18
  1. BEAUTY: I guess we will see the realistic valuation and pricing of the shares only as soon as the 2Q2018 results are published…

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