ASAP
ASAP expects growth in 4Q18, supported by high tourism season. It targets revenue growth of 30% backed by an increase in customers. It is dealing with a Japanese company to add “asap GO” car rental centers around the factory zone. The deal will be concluded in December. (Thun Hoon, 18/10/18)
Comment: Now GRAB is offering car rental services + a driver at decent rates…
OSP
OSP share price closed at Bt27.25, above its IPO price of Bt25. Management is confident that revenue and earnings will grow YoY and it plans to export products to China and Vietnam. Niti Osathanugrah, the major shareholder, sold a big lot of 135.16mn shares at IPO price, gaining Bt3.38bn. (Kao Hoon, 18/10/18)
Comment: A rather poor performance considering it is a “consumer” play
SEAFCO
SEAFCO expects 4Q18 earnings to be good. It plans to bid for projects with total value of Bt6-7bn. It was awarded four projects with total value of Bt750bn, bringing backlog to Bt2.95bn. (Thun Hoon, 18/10/18)
Comment: They keep winning projects left right and center
TICON/ROJNA
TICON-ROJNA venture capital won 4.3K rai land auction from AQ at the auction price of Bt8.9bn. ROJNA plans to set up an industrial estate and warehouses on this land. It says investors will be interested in this project, supported by EEC promotion and an elected government. (Thun Hoon, 18/10/18)
TMB
TMB booked Bt12bn extra gain from TMBAM divestment and will use it as advance provisions for IFRS9 and prudent NPL management. Its share price fell sharply yesterday because investors took profit and worried about the rise of bad debt. (Kao Hoon, 18/10/18)
Comment: Well, yes…
TPCH
TPCH expects 3Q18 performance to be good. It plans to acquire biomass power plants and increase electricity production capacity to reach 200MW in 2020. TRIS rating maintains its credit rate of BBB. (Kao Hoon, 18/10/18)
Comment: No surprises here, the question for them is the ability to grow beyond what they have in the pipeline
WHA
WHA completed a deal with Alibaba for 130K square meters warehouse rental. The contract will be signed soon. It is negotiating with another client for the purchase of 300 rai of land in October, allowing it to reach this year’s land sales target of 1,400 rai. (Kao Hoon, 18/10/18)

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