AP reported 11M18 presales of Bt41.5bn, exceeding its full-year target of Bt39.8bn. Revenue from its JV was Bt27.1bn, a record high. (Kao Hoon, 17/12/18)
Comment: So even despite great earnings and pre-sales numbers this stock has also plummeted
ASEFA expects many projects to come up for bidding next year, especially big infrastructure and renewable power plant projects in EEC. It has already bid for Bt3bn in projects, adding to its current backlog of Bt2.2bn. It plans to do a new business, power plant maintenance, and the decision will be made next year. It expects revenue growth of 7-8% this year. (Thun Hoon, 17/12/18)
ATP got a contract for employee transports via ten air-conditioned vans for a four-year service period beginning Feb 26 next year. It expects business to be good next year, supported by projects in EEC. (Thun Hoon, 17/12/18)
CHEWA is setting up a townhome project, Chewa Home Wongwaen – Lamlukka, valued at Bt700mn. The project comprises 274 units of two-story townhomes in a convenient location. (Kao Hoon, 17/12/18)
EPG expects FY2018 revenue to be a record of Bt10bn, supported by growth in all businesses; Aeroflex, Aeroklas and EPP. It set up Aeroklas Duys, a joint venture in South Africa, to enter the market in Africa. (Kao Hoon, 17/12/18)
Comment: Perhaps a winner with the continued decline in oil prices
GULF notified the Energy Regulatory Commission (ERC) that it will set up a 2,500MW power plant, GSRC IPP, valued at Bt51bn and will sign a 25-year Power Purchase Agreement with EGAT. The project will gradually start commercial operations beginning in Mar 2021 through to Oct 2022. (Kao Hoon, 17/12/18)
HMPRO will hold an event, HomePro Fair Chiangmai, December 14-23 at Chiangmai International Exhibition Center. It targets sales of Bt100mn from the exhibition. (Kao Hoon, 17/12/18)
Comment: Top line growth is a massive challenge for HMPRO, everything will be GPM improvement driven
KTC expects 2019 earnings growth of 10% from this year’s expected new high for earnings. It expects credit card spending to grow 15% next year from this year’s growth of 10%. It expects credit card spending and personal loans to be good. It plans to introduce Nano and Fico finance. It will issue debentures of more than Bt10bn to handle business expansion and refinance. (Thun Hoon, 17/12/18)
Comment: Continued to be impressed by their ability to keep expanding the bottom line. Top line has been in line with what we thought, bottom line growth has far exceeded expectations. But how much more accounting tricks can they pull out to drive things in the future?
RJH expects revenue growth of 15% backed by an increase in patients. It targets revenue growth of 10-15% next year. It plans to open a dialysis center in January next year and has budgeted Bt650- 700mn to set up a hospital in Ayutthaya. (Kao Hoon, 17/12/18)
THG expects 4Q18 results to be good, backed by transfers of Jen Wellbeing project in December. Current backlog is Bt765mn. It has budgeted Bt1bn to expand its businesses with expected revenue growth of 10% next year. If the Commerce Ministry requires hospitals to disclose medical charges on their websites, it believes this is a good move, increasing transparency and a benefit to the healthcare industry. (Thun Hoon, 17/12/18)
Comment: Well it hasn’t performed well. And frankly the Wellbeing project is a flop.
WIIK reports that shareholders approved the issue of free warrants of no more than 125mn units at the rate of 3 shares per one warrant. The exercise price is at Bt5 with expiration in three years. (Thun Hoon, 17/12/18)
Comment: Freebies for shareholders!