AOT fundamentals are strong. It reported 3QFY18 earnings of Bt6.42bn, +19%YoY, and 9M18 earnings of Bt19.9bn, +18%YoY. Passenger pass-through in the first nine months was 106.2mn. (Kao Hoon, 15/8/18)
Comment: The china tourism issue is to me, a short term hiccup. Biggest issue for Thailand will be the country’s infrastructure capacity
EA reported 1H18 earnings of Bt2.9bn, +51%YoY. It expects 2018-2019 earnings to be a record high. It will receive revenue from the 260MW Hanuman wind power plant in 4Q18. (Kao Hoon, 15/8/18)
EPG reported 1QFY18 earnings of Bt305mn supported by new orders and THB depreciation. It expects demand to increase in 2H18. (Thun Hoon, 15/8/18)
Comment: Should oil prices drop this name may spike again
GOLD is preparing to launch 17 property projects in 2H18 with total value of Bt21.3bn. It says the Samyan midtown project is 40% completed and expect completion in 4Q19. It expects presales at Bt14bn this year. Backlog is Bt4.83bn and expects to book 50% of backlog as income this year. (Thun Hoon, 15/8/18)
HMPRO plans to add four Homepro S stores in provincial urban centers in 2H18 and 2-3 MEGA stores in Malaysia in 2019. It plans to launch a new promotional campaign to pump up sales volume at the end of this year. It targets sales growth of more than 5% this year. (Thun Hoon, 15/8/18)
Comment: Their ability to still maintain positive SSSG in Thailand is outstanding given the country’s situation
ITEL expects 2H18 revenue and earnings to grow. It is bidding for USO NET phase 2 projects worth Bt20bn and expects to be awarded 1-2 contracts with a total value of Bt3-4bn, increasing its backlog to Bt6-7bn from the current Bt2.88bn. (Kao Hoon, 15/8/18)
LALIN expects 2H18 results will be better HoH. It plans to launch 5-6 property projects with total value of Bt3-4bn. Its 1H18 earnings were Bt401.8mn, +41%YoY, and 1H18 revenue was Bt2.08bn, +35%YoY (Kao Hoon, 15/8/18)
SKR reported a 2Q18 earnings increase of 117%YoY supported higher billings and cost decrease. Its specialized medical center is popular. Management says it is already treading the correct path. It expects 3Q18 results will be good supported by high season. It is working to reduce cost from 73% of its revenue to 70%. Its PBV is 2 which is below the industry’s 5-7. (Thun Hoon, 15/8/18)
SMPC expects 2H18 results to be good supported by high season. It expects revenue growth of 1520% to Bt5bn this year with the sale of 8mn LPG tanks. The production expansion is expected to complete in August, bringing capacity to 10mn tanks per year in 4Q18. It plans to set up a new factory in Africa. (Kao Hoon, 15/8/18)
SQ has returned to run full capacity at Maemoh 8 conveyor system after it was damaged by a ground subsidence. It expects 2H18 revenue to increase from the full run. The current backlog is Bt35bn. (Thun Hoon, 15/8/18)
Comment: And could this be the turnaround that people are waiting for?

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