ASAP
ASAP says local funds are interested in investing in its company. Management plans to ask the board to approve a budget for fleet expansion, supporting the growth in car rental demand. It expects revenue growth of 25% this year. (Thun Hoon, 24/7/18)
Comment: Still the same target as set out 2 years ago. Only question is valuation.
AUCT
AUCT expects to auction 50,000 cars this year, +14% YoY, supported by growth of the automotive industry. It expects to auction 10% of its inventory per month. (Thun Huon, 24/7/18)
CSS
CSS expects 2H18 revenue to be good, backed by new orders. It will book revenue from setting up a telecommunication system for DTAC and plans to COD a 50MW hydroelectric power plant in Laos in 2H18. (Thun Hoon, 24/7/18)
DOD
DOD’s major shareholders made a big-lot sale of 10bn of their shares to major partner for Bt13.5 per share, higher than market price, for a total of Bt135mn. This is for future business expansion. (Kao Hoon, 24/7/18)
Comment: Wait they just listed and are now doing a big lot share transaction….
GPSC
GPSC reported that its board approved short-term facilities (not exceeding 12 months) for loans exceeding Bt35bn with PTT and PTTGC, both major shareholders, in order to provide the funds to acquire GLOW. GPSC will hold a shareholders meeting on August 24 to approve the purchase of GLOW and capital raising. (Post Today, 24/7/18)
HUMAN
HUMAN expects 2H18 revenue to be good. It will book revenue from recently-acquired Sigma and is preparing to provide new software in 3Q18. It is considering more acquisitions. (Thun Hoon, 24/7/18)
KTB
KTB stated in its 2H18 operating plan that it will focus on stability. It targets loan growth of 6-7% and sets provisions for IFRS9, the new accounting standard. It said NPLs have already passed bottom. (Krungthep Turakij, 24/7/18)
Comment: I’ve been reading that NPL’s have passed the bottom for .. 3 years now? They haven’t and I still expect to see a lot more provisioning throughout 2H18 and all of 2019 for the banks to clear their books
PSTC
PSTC expects its 2Q18 revenue to be good and expects 2018 revenue growth of 200% (Kao Hoon, 24/7/18)
SR
SR plans to manage Chiangmai Airport’s car park building with a project value of Bt460.21mn. It will sign the contact in August and expects revenue of Bt120mn per year. For Thammasat University’s car park management, it will book revenue of Bt90mn in January next year. Management targets doubling revenue this year to hit a new high. (Thun Hoon, 24/7/18)
Comment: I love the car park business. I believe its one of the best undervalued assets within Thailand at the moment. But who is the best player for this? Central?
TMB
TMB reported a decrease in 2Q18 earnings due to lower fees from selling funds. Management is planning to launch more fund products to match market conditions. It targets loan growth at 8% this year. (Kao Hoon, 24/7/18)

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