AOT entered into joint venture with SAL to improve parking service and airport equipment. It will hold 49% of the JV. It is looking for new investments. (Thun Hoon, 12/10/18)
BGRIM signed its Power Purchase Agreement (PPA) with Vietnam’s government. The 257MW plant will start commercial operations on June 30, 2019, boosting revenue growth to 15-20% next year. (Thun Hoon, 12/10/18)
Comment: And boom it continues
CMO was awarded contract to organize the Icon Siam opening. Management says it has backlog of Bt470mn. There are many events in the last quarter of every year and the economic growth is leading businesses to do more marketing promotions. It expects results to beat its target of Bt1.4bn this year. (Thun Hoon, 12/10/18)
EASTW expects to be awarded a project to develop a water supply system and wastewater management for the Navy. It expects to be awarded a project to recycle water in U-Tapao International Airport as well. (Thun Hoon, 12/10/18)
Comment: It is interesting to see how this water supply company is expanding its businesses via other water related industries. The reason they are doing this and TTW isn’t is because TTW benefits from having CK as a major shareholder
ECF share price fell and its MD plans to do a stock repurchase. The MD has denied the rumor about ties with Super Trader’s CEO. It plans to ask the board to approve IT investment on Nov 9. It expects revenue to reach Bt10bn in 2023. (Thun Hoon, 12/10/18)
GPSC barred from acquiring electricity producer GLOW. The energy regulator has blocked a move by a PTT affiliate, GPSC, to take over Glow Energy Plc (GLOW), to ensure continuing competition in the energy sector. (Kao Hoon, 12/10/18)
Comment: WOW! That is incredible, quite unexpected, bankers are probably crying, but its positive to see that the regulator is ensuring that there is some form of competition within the market.
JMART expects 4Q18 earnings to turn around, backed by high season and introduction of Apple’s new iPhone. It expects earnings and revenue to grow in 2019 as it plans to restructure its subsidiaries and import robots to sell in Thailand. (Kao Hoon, 12/10/18)
Comment: Hmmm, a lot of this will be based upon JMT’s ability to quickly buy more bad debt this financial year and quickly collecting it, because the mobile phone isn’t what it used to be a decade ago for JMART.
JWD expects 2H18 results to grow YoY from last year’s Bt1.81bn, supported by high demand in the freight and food business. It targets revenue growth of 30% this year, backed by an increase in customers and cooperation with a Chinese partner. (Thun Hoon, 12/10/18)
Comment: I can actually see this happening for JWD. They have done a decent job in their expansion throughout the region and within the country.
KTC reported 3Q18 earnings of Bt1.396bn, +65% YoY. Its 9M18 earnings were Bt3.911bn. It says the results beat its year’s target. (Thun Hoon, 12/10/18)
Comment: Great #’s yet again, and yes it is because of lower provisions.
SPA is preparing to handle fewer Chinese tourists in 4Q18 after the Phuket boat accident. Even though it is not yet affected by this event, it is tracking the situation. It plans to open six branches to give it 50 branches by the end of this year. It will provide “Stretch me by Let’s Relax” service in early November. It targets revenue growth of 25% this year. (Kao Hoon, 12/10/18)
TISCO reported 3Q18 earnings of Bt1.815bn, +15.4%YoY. 9M18 earnings were Bt5.29bn, +15.8%YoY. It says the growth came from all businesses. (Thun Hoon, 12/10/18)
Comment: And magically lower provisions…
TRUE group has budgeted Bt300mn and entered into a JV with Axion Ventures from Canada to set up “True Axion Interactive”, which is a game studio. The JV is creating premium games, with the first being Invictus. It expects revenue of Bt100mn this year from the JV and targets a market share of 10%. (Kao Hoon, 12/10/18)
Comment: How does this make business sense? Maybe this could become a magical profit center for True Group allowing for them to continue growing and taking market share from AIS and DTAC and … nope I just can’t continue with this line of thinking…