B will focus more on business restructuring to emphasize its logistics segment to accommodate rising e-commerce. The company targets to double revenue YoY in 2018, from Bt125.64mn in 2017 and expects to record some profit vs. net loss in 2017. It will reduce the proportion of customers in heavy industry from 90% currently to >50% within five years. (Thun Hoon, 4/5/18)
ETE’s management expects to announce new projects awarded and plans to join the auction for other projects worth Bt15bn. The company expects its cost control program to boost earnings in 1H18 and will raise its revenue growth target to >20-30% in 2018. (Thun Hoon, 4/5/18)
GCAP says loan growth in 4M18 is in line the year’s target. The loans were extended mainly for agricultural-related machines. This segment could account for 75% of total loans, higher than 60% previously planned. The company expects new loans could exceed target of Bt1.8bn. (Thun Hoon, 4/5/18)
Comment: I am quite confused by the agricultural sector in Thailand at the moment, one argues that the strength of Thailand is the ability to grow its own agricultural, but with numbers now indicated that 50% of arable land is non-farmer owned, and thus farmers are paying rent rates for this how are they really benefiting from higher prices, and how do they afford machinery from companies such as GCAP?
IVL expects 1Q18 performance to be healthy after its plants in the US resumed operations plus the imposition of anti-dumping on PET imports into the US. The company expects EBITDA growth of 15-20% which could be boosted to US$2bn within five years. There remains more acquisitions in the pipeline. ( Thu n Hoon, 4/5/18)
Comment: Rather confused by IVL #’s, every other petrochem co had a weak 1Q18.
MTC is relieved that the new Financial Act has no 15% interest rate cap and will allow operators to charge additional related fees. There will be a hearing on the new Financial Act on April 30, 2018. (Thun Hoon, 4/5/18)
PRIN plans to launch six new projects in total worth Bt3.77bn, with presales of Bt120mn and backlog of Bt8.1bn. It targets sales growth for 2018 at 5%. (Kao Hoon, 4/5/18)
SPA expects 1Q18 earnings to make a new high after opening two new branches to support rising tourists. The company plans to open two more branches in 2Q18. It expects revenue to grow 25% to Bt1bn this year. (Kao Hoon, 4/5/18)
TACC expects 2Q18 results to be better than 1Q18 after adjusting its beverages to be in line with the sugar tax. It is ready to joint venture with NPP in setting up Siam Gateway to penetrate China. It aims to achieve revenue of Bt1bn in 2019. It expects to finalize an M&A deal within one month. (Kao Hoon, 4/5/18)
TMB’s board chairman disclosed that the bank is studying the possibility of a merger after the issuance of a tax incentive scheme for mergers among banks. Meanwhile, it denied the news that it will merge with KTB. (Krungthep Turakij 4/5/18)
Comment: Nothing special here, move on.
TTCL got two new projects worth Bt1.3bn with a rise in backlog to Bt10bn. It is in the process of bidding for new projects worth a total of Bt90bn and expects to get a new project abroad in 3Q18. (Thun Hoon, 4/5/18)
Comment: Perhaps the japanese left at the right time
TTW expect sales to grow 3.9% in 2018 and plans to expand investment both domestic and abroad in 2H18. (Thun Hoon, 4/5/18)
TWPC expects a rise in sales this year. A rise in fuel price is positive to its cost. It plans to invest Bt12bn both in the country and in CLMV. (Thun Hoon, 4/5/18)
Comment: Fantastic business, don’t expect any amazing growth numbers, just steady steady.