ASAP
ASAP insists that it will not increase capital, even though D/E ratio is high. The jump in interest expense pushed share price down, but it said this is the nature of a leasing company. It says customers trust it and banks provide support. It is studying the issue of debentures of a minimum of Bt500mn to refinance its debt. It expects revenue to reach Bt3bn next year, supported by more customers. (Thun Hoon, 21/11/18)
Comment: It was just an expensive stock, nothing wrong with their business thus far.
CENTEL
CENTEL expects performance to be better next year. Its hotel occupancy rate is 83-85%. It believes the government will continue to support tourism. It expects revenue from the food business to grow 3-4% this year. It plans to budget Bt7bn to acquire companies both at home and abroad. (Thun Hoon, 21/11/18)
COM7
COM7 fell by 3% to Bt18.30 per share on concerns of a fall in revenue after Apple announced it was cutting back on three new iPhone models because of lower demand than expected. (Kao Hoon, 21/11/18)
EKH
EKH targets revenue growth of no less than 8-10% driven by revenue from its infertility clinic. It plans to set up a pediatrics center and health care center in 1Q19. It targets revenue growth of more than 15%. (Thun Hoon, 21/11/18)
EPG
EPG expects 3QFY19 results to be outstanding, supported by the fall in oil price and THB depreciation. Management expects revenue growth of 10-15% to Bt10bn this year, driven by an increase in customers. It has budgeted Bt650mn for long-term investment. (Thun Hoon, 21/11/18)
Comment: We were doing some work on which companies would benefit from a drop in oil prices, EPG, PTG, TASCO were what we expected to see but there isn’t a high correlation for this.
IVL
IVL board approved a new dividend policy and it will now pay a dividend every quarter. The new policy will begin in 3Q18 with a dividend of Bt0.35 for a total of Bt2bn. XD is on Dec 3. Accumulated profit is Bt71.8bn now. (Kao Hoon, 21/11/18)
Comment: More positive momentum for this acquisition machine, now what will happen if/when interest rates go up next year and their cycle turns…then again this may not occur for years…
LPN
LPN board approved a budget of Bt400mn to repurchase 42mn shares over Dec 4, 2018 – Jun 3, 2019 after share price fell sharply below its fundamentals. (Krungthep Turakij online, 20/11/18)
Comment: Finally some movement! It’s not in the best 
SUPER
SUPER signed a private Power Purchase Agreement (PPA) to distribute 33.24MW electricity to EASTW. It targets electricity distribution under PPAs of 1,200-1,300MW. It continues to invest in renewable energy. (Thun Hoon, 21/11/18)
TICON
TICON reported 9M18 earnings of Bt667.7mn, +170.69%YoY driven by growth in all businesses and extra gain from disposal of TREIT valued at Bt2.21bn. The board approved a dividend of Bt0.27 per share with XD on 24 Dec. (Kao Hoon, 21/11/18)
UAC
UAC expects 4Q18 results to be better driven by an uptrend in its trading business. Its customers have increased orders. It expects EBITDA of no less than Bt350mn this year, supported by additional production capacity from the PPP project. (Kao Hoon, 21/11/18)
Comment: Maybe worth a look again, it’s had some ups and downs over the past 5-6 years

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