BANPU
BANPU has an investment opportunity in the natural gas business and is expanding its solar rooftop, with a goal of increasing production to 300 MW in 2020. It also plans to list subsidiary BANPU Infinergy. It expects 2017 revenue of at least Bt85bn and reports coal price has increased to US$70 per ton. (Thun Hoon, 16/11/17)
BCPG
BCPG has budgeted Bt2bn for investment in 2018. It plans to develop solar rooftop and an energy trading system through the Internet with property developers. It expects EBITDA to grow by 10% and is going to COD an additional 150MW. (Thun Hoon, 16/11/17)
Comment: I’m not quite sure how the energy trading system is going to work in Thailand. Regardless this company has a clear backlog of business
BM
BM receives Bt149mn from selling 40mn shares through PP to NITTO at a price of Bt3.73/share. It plans to use the funds for business expansion, buy machines and build a new factory to facilitate growth. (Khao Hoon, 16/11/17)
EPCO
EPCO reports 3Q17 earnings of Bt41.61mn, growing 379% from the booking of revenue from its 360 MW thermal power plant. It believes strong earnings growth will continue in 4Q17 and 2017 earnings will make a new high. It also plans to list subsidiary EP at the beginning of 2018. (Thun Hoon, 16/11/17)
GPSC
GPSC starts operations of IRPC Clean Power phase 2 at full capacity of 240 MW, with steam of 180-300 tons per hour, of which 180 MW is loaded to EGAT’s grid. This increases its total capacity to 1,509MW and will give steady revenue growth. (Thun Hoon, 16/11/17)
MC
MC targets revenue to grow by at least 10% in 2018 after changing its business strategy. It plans to add to the 879 branches it already has and to expand in Myanmar, Laos and Iran, as it targets to raise revenue proportion from overseas to 1% of total revenue. (Thun Hoon, 16/11/17)
Comment: This company has only surprised me by the fact that its share price stays high despite their inability to expand into other segments in the market
PACE
PACE reports 3Q17 loss of Bt961.71mn, increasing by 20.40% from the booking of Bt875mn loss from its food and beverage business. The auditor did not render an opinion on the financial statement as of 30 September 2017. (Khao Hoon, 16/11/17)
Comment: Shouldn’t this be 0? 
PLAT
PLAT says 2017 earnings will make a new high and revenue will exceed Bt2bn this year after entering high season. It says its rental and servicing and hotel business have been growing well. It believes 4Q17 revenue will continue to grow and revenue from Talad Neon will increase to Bt100mn in 2018. (Khao Hoon, 16/11/17)
RS
RS reports 3Q17 earnings of Bt123.8mn, up from 3Q16 loss of Bt60.99mn. It is preparing to move to the Commerce sector as revenue from the health and beauty business is expected to grow by 600% this year. (Thun Hoon, 16/11/17)
Comment: And that is how one can justify a multiple of 100x ? 
TRUE
TRUE shows a decrease in loss in 3Q17 to Bt691mn thanks to better control over expenses; however, 9M17 loss still rose to Bt3.075bn. It has lowered its revenue growth target from 16-20% to reflect 9M17 results. (Khao Hoon, 16/11/17
  1. Mind boggling what a good story to RS can do to a share price. I entered this name when it was 8 baht just as a speculative investment and got out for barely 20% gain. Frankly I think 10 baht was overly expensive let alone 27!

    • You have to believe! :p It’s funnymentals. We could argue for a 14-15 fair value with the beauty business…but nevertheless yes it’s a “bit” expensive.

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