AOT expects its six airports to have 17,550 flights during Songkran, +11.9%YoY, with total passengers of 3.01mn, +14.4%YoY. It plans to draw up a TOR for an auction for the commercial area in Suvarnabhumi airport. It plans to select a winner this year. (Thun Hoon, 9/4/18)
Comment: Still one of the best performing industries in the country, the airports and all related businesses are perhaps some of the few that are doing ok during the past few years.
BAFS to invest Bt9.5bn to expand oil transport system in Pichit-Lampang and Suvarnabhumi phase 2. It expects fuel sales for flights during Songkran to rise +1%. It believes full-year sales will grow 4-5%. It also signals 1Q18 sales growth of 4.7%. (Thun Hoon, 9/4/18)
Comment: See above
BGRIM plans to sign a contract with partners to build 420 MW solar farm in Vietnam in April. (Khao Hoon, 9/4/18)
Comment: The advantage of being a larger player is that you don’t have to rely on Thailand and it’s ridiculous changes in policies to do business.
DDD says 2Q18 earnings will be strong, driven by CFDA from China. It plans to launch a new antiaging product to boost 2018 revenue growth to its 30% target. (Khao Hoon, 9/4/18)
DELTA signals 2Q18 earnings growth of 10%. It plans to invest US$300mn to buy a power supply business in Germany. (Khao Hoon, 9/4/18)
FSMART reveals strategic plans, targeting an additional 20,000 Boon-term machines. It plans to expand to new customers by launching “BE Wallet”. It just completed a share buyback of 20mn of shares or 2.5%. (Thun Hoon, 9/4/18)
Comment: 1) Share buy back 2) An additional expansion of its machines but a) Decreasing margins and increasing capex on the new boonterm machines b) Threat of decreasing transaction rates given the recent developments by commercials => not an overly rosy outlook
PERM said it is receiving a flood of new orders, supported by the EEC. It plans to increase production to serve new domestic and international orders and to push revenue to increase by 10%. (Thun Hoon, 9/4/18)
SUPER just bought back 50mn of its shares. It targets a PPA this year of 1000 MW with revenue growth of 25%. (Khao Hoon, 9/4/18)
Comment: Ignore the news, it wasn’t the company that bought this, it was an individual
Watch TTCL today since the Myanmar government might cancel a 1280 MW coal power plant worth more than Bt100bn after 172 organizations signed a paper protesting against the project. (Khao Hoon, 9/4/18)
Comment: TTCL’s situation is going from bad to worse