AOT expects 2018 earnings to be a record high Bt20bn. 10M18 passenger pass-through grew 12%YoY. It proposes adding four airports under its management: Udon Thani, Sakon Nakhorn, Chumphon and Tak. It is waiting for cabinet approval, expected in September. (Thun Hoon, 28/8/18)
Comment: What Phuket issue? Ignore the news regarding all this tourism rubbish, its continuing, a long term trend.
BIZ expects 3Q18 results to be good. It will book transfers of Bt1.6bn this year. High season for medical equipment purchases will support revenue. It is bidding for new orders with total value of Bt500600mn and hopes to get many. (Thun Hoon, 28/8/18)
BJC expects 2H18 to grow YoY on continued expansion of BigC stores and the startup of a new glass bottle production machine. It expects revenue growth of 7-9% this year from last year’s revenue of Bt164bn as it has more customers increased. It is budgeting Bt10bn to renovate and expand its commerce business. It plans to issue Bt20bn debentures to redeem debentures expiring in 2019. (Thun Hoon, 28/8/18)
Comment: So we all knew that YoY growth was going to look good from 3Q17 to 2Q18 given the restructurings that took place when BJC took over BIGC. Going forward a lot of people are assuming the best case scenario, perhaps relieved that they won’t do what MAKRO has done with their india expansion and instead keep BIGC as a Thailand only play.
FSMART adds new service. It will sell mobile phone SIM cards through its Boonterm automatic top up machines. It is developing KYC and identification process through Boonterm. It plans to partner with one bank in 4Q18. It has budgeted Bt150mn to add more Boonterm machines to reach 5,000 this year. (Thun Hoon, 28/8/18)
Comment: Still a compounding machine but at a lower pace and a lower ROIC, thus even though there’s a share buyback in place the price hasn’t gone anywhere
KTIS expects 3Q18 earnings to turn around if it receives Bt750-850mn compensation from the cane and sugar fund. It expects to revenue contribution from electricity generation to rise to 50% from 25% now. (Kao Hoon, 28/8/18).
PTTEP aims to acquire JDA oil field from Hess Corp in Southeast Asia. It expects 2H18 revenue to grow as it expects to be awarded the Bongkot and Erawan gas fields at the auction. (Kao Hoon, 28/8/18)
SPCG expects 2018 revenue to reach Bt6.7-6.8bn as it will book revenue from solar rooftop projects of Bt1.7-2bn, +30%YoY. It is developing two solar farm projects in Japan; 480MW in Nagasaki and 65MW in Fukuoka. Construction will start at the end of this year. (Kao Hoon, 28/8/18)
Comment: Perhaps the only renewable energy company to have all their MW’s up and running.
THG has budgeted Bt700mn to build Thonburi Health Village. The project targets mid- to highincome seniors in the Thonburi area and will offer a full healthcare service. (Thun Hoon, 28/8/18)
Comment: They haven’t performed very well with this plan…
TPCH says its two power plants were awarded top performers for renewable energy at the Thailand Energy Awards 2018. Management targets the company to be a leader in renewable energy in ASEAN. It will start commercial operation of four power plants with total capacity of 49MW next year. (Kao Hoon, 28/8/18)
Comment: Hasn’t mattered how well they perform, the stock price is still in the doldrums as a result of the Thai Energy Minister saying no more renewable energy earlier this year.
MRTA is working to accelerate the decision on the management of concession area in the Purple Line stations. BEM expects to get the deal, as it has the contract for maintenance and repair of Purple Line trains. BEM plans to add more shopping area after getting a good response from well-known shops. (Thun Hoon, 28/8/18)
TVD says it is recording profit from all sales channels, such as TV online. Home shopping on the Spring News channel just turned around. It expects 2H18 results to be good. It expects sales to grow 17% this year to reach Bt3.99bn after 1H18 sales of Bt1.8bn. (Thun Hoon, 28/8/18)