BA
BA signals 3Q17 earnings will turn positive from 2Q17, as number of passengers and load factor have increased significantly. It is going to open a new route, Bangkok-Phu Quoc to expand its presence in CLMV and increase revenue in the long term. Flights are expected to start on October 29. (Thun Hoon, 4/10/17)
Comment: Phu Quoc is supposed to a wonderful island destination in Vietnam. Now I do wonder if BDMS is utilising BA’s routes to have more hospital visitors.
BGRIM
BGRIM signed a contract to sell electricity to Veteran’s Organization from five solar farms, with total production capacity of 23.58MW. (Thun Hoon, 4/10/17)
COL
COL targets 2018 revenue to grow by 10% from expected 2017 revenue of Bt1.2bn. It plans to have one of its subsidiaries to into the online business and believes 4Q17 revenue will reach Bt400mn. (Thun Hoon, 4/10/17)
Comment: I’m still of the viewpoint that the online business isn’t worth much in Thailand despite its supposed potential, and the fact that even COL got rid of the online business (shifted to a private entity) should rather obviously show this.
EGCO
Startup at 256 MW Baan Pong power plant announced. EGCO reports this plant has started commercial operations and it will book revenue in 4Q17. This power plant has expanded EGCO’s domestic portfolio. (Thun Hoon, 4/10/17)
ERW
ERW believes 2017 earnings will grow by 10% as targeted on a rising number of Chinese and Russian tourists and steady growth in domestic tourists. It expects more Chinese tourists in 4Q17 than in 3Q17, which was still suffering from the clampdown on zero-dollar tours from China. It also plans to open four new HOP INN hotels, giving it a total of 32 HOP INN hotels in 2017. (Thun Hoon, 4/10/17)
Comment: Its China week! But with their business model still solely focused on being asset owners versus operators, or a combination of the two, their ROIC will pale in comparisons to CENTEL and MINT
IVL
IVL reports the purchase of a business in Mexico that will strengthen its HVA products in the automobile sector by expanding its customer base. It says that IVL has purchased 39 factories over the past five years. (Thun Hoon, 4/10/17)
Comment: Are they going to revalue this acquisition as well?
KTC
KTC is progressing in the digital segment to strengthen its business and to prepare for a cashless society. It believes 2017 earnings will grow from 2016’s as it has added more clients. It plans to change its strategy to focus on clients that have a monthly income of over Bt30,000. It also says it will not be affected by the new accounting standard IFRS9, as it will increase reserves to meet this standard by the end of this year. (Thun Hoon, 4/10/17)
SIRI
SIRI is entering high season in 4Q17. It is going to launch 11 new projects worth Bt26bn and targets presales to reach Bt16bn. It reports presales of Bt24bn over the past nine months, growing by 20% from last year. It just closed presales for The Deck Pathong, worth Bt1.5bn and expects this will support 2017 presales to reach Bt40bn. (Thun Hoon, 4/10/17)
SUPER
KBANK approves Bt945mn loan for SUPER subsidiary. The funds will be used to invest in a waste power plant in Srakeaw province with production capacity of 9.9 MW. It plans the COD this year and expects revenue of Bt400mn per year. It targets a 2017 PPA of at least 809 MW. (Thun Hoon, 4/10/17)
TWPC
TWPC reports that its subsidiary Thaiwa Biopower purchased 166,668 shares in Sumpalhung Pattana, giving it a stake of around 33.33%. The purchase was done to support production capacity expansion. It expects this purchase will strengthen its earnings growth in the future. (Thun Hoon, 4/10/17)
Comment: A great little company, at times I do think one should just close their eyes and just buy it..

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