Asset World Corp (AWC), a property developer owned by Charoen Sirivadhanabhakdi’s TCC Group, looks set to acquire 12 hotels in Thailand to boost recurring income from properties, mulls listing on SET in 2H19 and become the largest IPO this year.
Comment: They will have to list given the amount of leverage that has been used by TCC Group to acquire all of their assets
BPP reaffirms solid 2Q from strong electricity sales on seasonal, higher capacity utilization at Hongsa powerplants in Laos and BLCP powerplants in Rayong, 114mw solar projects on track to cod in 4Q.
CHEWA upbeats 2Q earnings from strong condo transfer and recognition of recently acquired home office developer, Thaicorp Capital, will launch 2 SDH & 2 condos combined worth Bt5.8b in 2H.
Comment: So they acquired another developer/landbank, they seem to have been utilisting this strategy quite well.
ECL expects 1H19 loan growth topped 20% yoy driven by used car & commercial vehicles hire purchase, target loan book reach Bt7.6b by end of-2Q, target Bt10b by end of year
MITSIB keeps 30% revenue growth target, tracking loan port, eyes top market share by 2022.
Comment: This IPO actually performed ok for a first day, however what we found interesting was the move made by ASAP on the same day
TMB launched multi-currency account to capture corporate clients, including THB, USD, EUR, GBP, AUD, JPY in single account.
Comment: TMB appears to have been making all of the right moves in the past few years
TVD ‘s secured rights for 60-70 documentary and Indian series from JKN for 2 years, allowing it to re-sell those contents in CLMV.
Comment: Thats a positive for JKN instead of for TVD
WORK sees strong 2H on program reshuffling with 10 new ones.