AUCT is working with a new partner to bring cars to auction. It expects car auction volume to grow by 20% this year from 60k cars last year. It says YTD auction volume is good and business is recovering. (Thun Hoon, 11/9/18)
Comment: But their vision of being the auction house of every asset doesn’t appear to be playing out…in the end its still a great car auction company.
BAFS targets 2018 revenue growth of 4-5% in tandem with an increase in passengers and flights. Oil demand is expected to grow 5-6% this year. It expects profit margin to be normal at 28-29% after last year’s 26.6% because of no extra loss. It is proposing o supply fueling services at U-Tapao Airport. (Thun Hoon, 11/9/18)
BEM says passenger volume has risen strongly. Passengers volume grew 5.5%YoY in August to reach 330k per day. It expects passenger volume grow 5-8% this year and revenue is expects to grow as well. It expects to open blue line extension in 2019 and Taopoon-Thapra in 2020, raising passengers to be more than 500k per day. (Thun Hoon, 11/9/18)
CPN opened Central Department Store in Phuket worth Bt20bn, the store with the highest budget ever. Many of the well-known stores are holding promotions now to Oct 14. It calls itself the first luxury shopping center in Asia. It expects traffic and sales to double. (Kao Hoon, 11/9/18)
Comment: And they’ll continue to expand and perform well. A lot of locals in Bangkok are curious about the next project near the Suvarnabhumi airport
DEMCO is bidding for projects with total value of Bt18.6-18.7bn, raising its backlog from the current Bt3.13bn, which is expected to be booked as revenue for the next two years. It expects earnings to grow this year and it targets high margin projects. (Kao Hoon, 11/9/18)
Comment: Company is performing well, but the 2 issues remain and both are in regards to WEH, when will the foundations be fixed and when will WEH IPO
NBTC provides information to the court after DTAC filed a petition for an emergency injunction for temporary protection for its 850MHz customers. The issue will be raised at the NBTC board meeting on Sept 12. The Journalist and Media Association filed a complaint against DTAC with the Office of the National Anti-Corruption Commission (NACC). (Kao Hoon, 11/9/18)
Comment: So the game of chicken continues, so far DTAC has been playing the game incredibly well.
PTT is choosing BTS or BEM as partner to bid for the project linking the three airports high-speed rail. The decision will be made before filing in November. Its CEO says that the purchase of GLOW shares by GPSC will not result in a monopoly. The CEO is using “CHANGE for the futures of Thailand 4.0” to move its long-term growth in six dimensions. (Kao Hoon, 11/9/18)
Comment: Well yes it is an effective monopoly in Thailand for the majority of their businesses. And does it make sense for a national oil company to be the firm deciding upon the three airport rail link?
SEAFCO expects 2018 revenue to beat its growth target of 25% to Bt2.5bn because of increase in booking revenue from backlog. It is waiting for the result of projects it has big for with total value of Bt56bn in 2H18. It expects to keep backlog at more than Bt1.8bn through this year. (Thun Hoon, 11/9/18)
Comment: And they keep growing and growing and growing
SPALI expects revenue to reach Bt26bn this year and expects transfers in 2H18 to be better HoH. YTD sales were Bt20bn and it expects sales to beat its target of Bt33bn. It plans to launch Supalai Veranda Ramkhamhaeng worth Bt6bn on Sep 28-30. (Kao Hoon, 11/9/18)
SUPER expects 2H18 results to be good, supported by high season. Several power plants will start commercial operations in 2H18 and raise its electricity generation capacity to 800MW by the end of this year. It has no plan to increase capital. It expects to generate cash of Bt6bn each year. It expects revenue to double in 2021. It will propose setting up an infrastructure fund this month. (Kao Hoon, 11/9/18)
Comment: The board has already approved it…now its just a question of when
TAPAC has budgeted Bt119.6mn to acquire 23% of PTC, a fuel warehouse service company. The deal is expected to complete in October and it will book revenue immediately. It plans to list PTC on mai after the acquisition. It expects results to be good this year. It expects a property deal in EEC to be finalized this year. (Thun Hoon, 11/9/18)
Comment: You can’t book revenue on a 23% holding…anyways, lets see if there is something positive regarding this company…
THANA is speeding up the sale of Bt1.6bn in projects in hand. It expects low-rise demand to grow. It plans to launch promotions and keep margin at 30%. It expects revenue to be close to last year’s Bt836mn. Backlog is Bt200mn and 80% of its backlog will be booked as revenue in 3Q18. (Thun Hoon, 11/9/18)