ASEFA
ASEFA expected 2H18 results to be good supported by high season. It targets 2018 revenue growth of 10-15%. It is working with a partner to set up a subsidiary “Smart Grid International” to increase revenue. It continues to reduce energy cost. (Thun Hoon, 8/8/18)
COM7
The Taiwan manufacturer of iPhone chips A11&A12 was hit by a computer virus, which caused a slowdown in iPhone production and delayed the launch of a new model. COM7 management expects the problem will affect the foreign market first and has not yet been able to assess the impact on COM7. It maintains its revenue target growth of 15% this year. (Thun Hoon, 8/8/18)
DELTA
DELTA says 3Q18 results will be better, supported by THB depreciation and plenty of orders. Its 2018 revenue is expected to grow by 10%. DEISG reiterated that it will not delist DELTA after the tender offer for Bt71 per share. (Kao Hoon, 8/8/18)
FORTH
FORTH expects 2Q18 results to be better. 1H18 revenue is expected to Bt3.6bn. Backlog is Bt2.8bn. It expects 2018 revenue to Bt8bn. It plans to bid for projects with total value of Bt10bn in 2H18. (Kao Hoon, 8/8/18)
Comment: The entire IT sector related to government projects has been rubbish since the military came in
HARN
HARN was awarded a project worth Bt60mn. It has numerous orders from Chinese and Japanese customers. Management expects 2H18 results to be good, supported by high season. Its backlog is Bt400mn, of which 80% will be booked as revenue this year. It expects earnings growth of 10% this year. (Thun Hoon, 8/8/18)
IRPC
IRPC expects 2H18 results to be better. It expects 2018 revenue to be more than Bt216bn. 2018 GIM is expected at US$14/bbl and crude oil price is expected to be stable at US$70/bbl. (Thun Hoon, 8/8/18)
MVP
MVP’s share price rose 71.58% to Bt3.26 from its IPO price of Bt1.90 on its debut. Management says 2H18 performance will be better, backed by more events. It plans to organize tourism events in the provinces for the government. It expects revenue growth of 40-50% this year. (Kao Hoon, 8/8/18)
Comment: Same story small name, big first day performance, now I am curious about how they are going to maintain their sales given the slowdown in mobile phone sales
SNC
SNC says 3Q18 results will be this year’s lowest because of low season. 4Q18 is expected to recover as orders came back. It expects 2018 earnings growth YoY supported by cost control and internal restructure. (Kao Hoon, 8/8/18)
TMB
TMB expects to book extra gain from the sale of TMBAM to PCAL this year. It maintains its loan growth target of 8-10% this year after 1H18 loans grew by 1.6% YoY. SME loans are expected to support 2H18 loan growth. It expects NPL ratio of 2.4%, close to the current level of 2.37%. (Thun Hoon, 8/8/18)

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