Stocks in the news (aq, banpu, ck, com7, cpn, egco, gulf, spali, thai, tvo) 26.09.19
AQ files lawsuit against KTB and its board, seeking Bt3.9b for breaching compensation payment terms.
BANPU to cod additional 2 powerplants projects combined 71mw before end of year.
CK wins contract to build integrated medical and public health center building for Thai Red Cross Society worth Bt2.16b.COM7 sees 4Q earnings from newly launched Apple products, contribution from Kerry Express (TH), larger house brand prod portfolio, will add more gadgets & home appliances to boost sales on holiday season.
Comment: With the “cheaper” iPhone at a lower price point, one could argue that all these IT retailers may see larger volumes
CPN sees 3Q turnaround from higher transfer of residential property projects, absence of extra ordinary expense booked in 1H, expects to finalize plan on Bt8-12b assets sales to CPNREIT in 4Q.
Comment: The malls just look dead quiet and Central Retail seems to constantly have “sales”
EGCO spent Bt3b for 44.6% stake in TPN from BIGGAS, entering oil transportation pipeline to Northeastern provinces.
GULF raised holding in solar power co, SPCG, by 0.1619%, lifted total to 10.0761%, SEC filing.
Comment: SPCG is “cheap” but I wonder what else GULF sees here.
SPALI launches presales of Bt1.184b Supalai Ville Rangsit September 28-29, single-detached and new models.
THAI board rejects plan to acquire 38 planes worth Bt156b, ordering a review to suit current econ environment, then resubmitting within 6 months
Comment: Well then, some common sense! Or am I missing something?
TVO upbeats earnings from surging soybean cooking oil sales ahead of Vegetarian festival from September 29 till Oct 7, eyes 10-20% full year sales volume growth target, firms on Bt25b revenue target this year.
Comment: TVO is more of a volume + margin game, only look at the gross profits for this co.
Xavi
Just bought 50,000 shares in Demco at sub 3 baht. I think the market has fallen asleep on some of these small caps.
Pon
On a lot of them, we’ve had names at 4x fcff, that are now 3 years later at 3x fcff. it’s a strange world.
Xavi
Interesting tidbit, MAX has just bought about a 6% stake in Eastern Power majority owned by EPCO at a total current valuation of 8.8Billion baht almost 4 times book value. Eastern Power is scheduled to IPO in 2020 and I’m assuming it will IPO above the 3.7baht pershare MAX paid for the latest stake.
My guess is it will IPO at around 4.5 baht which puts the value at over 11 billion baht market cap. Well is the company worth 11 billion, no where close to that IMO, but thats what it will probably end up as. Eastern Power is the same company that recently sold off a Viet solar farm to BCG 3 months after its COD.
It is interesting when you see how the elites can turn 1 baht into 10 baht at the flick of a switch or in thailands case by robbing the retail investors blind.
Pon
It’s funny money at EPCO. Just look at the directors and shareholder list.