BAY
Inflow of Japanese investments in EEC benefits BAY. Krungsri bank says the many Japanese investors moving into EEC to make new investment will benefit its business and it plans to cooperate with KBANK, KTB, BBL and SCB to extend loans for big investment projects. BAY had the highest loan growth of peers in 2Q17. (Thun Hoon, 12/9/17)
Comment: Yes should it happen, it won’t be overnight despite the market pricing in these expectations for several names already. Without a doubt I do believe BAY would be one of the major beneficiaries from all the banks for NEW Japanese FDI, not for the existing companies that are already in Thailand
BEM
Steady growth in BEM’s underground train and expressway businesses. The number of passengers reached a new high of 320,000 passengers/day as a result of the opening of the BTS Blue Line extension, while expressway traffic has risen to 1.2mn trips/day. (Thun Hoon, 12/9/17)
BIG
BIG expects revenue in 2017 to grow by 10-15%, with a earnings growth of 10% in 2017 and 13% in 2018, as purchasing power starts to pick up. (Thun Hoon, 12/9/17)
HARN
HARN believes margin will increase to double-digits, as a result of baht appreciation. It targets revenue to reach Bt1.32bn in 2017 with Bt400mn of backlog, of which 80% is expected to be booked this year. (Thun Hoon, 12/9/17)
Comment: That’s for its net profit margins as GPM’s are in the mid 20’s
KBANK
KBANK chosen as a sustainable world standard company in 2017. KBANK is the first and only bank in Thailand and ASEAN chosen to be a member of Dow Jones Sustainability Indices (DJSI) 2017 in the world class and emerging markets class for two consecutive years. (Thun Hoon, 12/9/17)
PRM
PRM plans to add ships to support its operational potential it begins trading on the stock market on September 14. IPO price was Bt8/share. It says that its business is in an upward trend as oil demands in the region increase. It expects its D/E will decrease to 2x. (Thun Hoon, 12/9/17)
S
Singha Estate targets its revenue to increase to Bt20bn in 2020. It is budgeting Bt55bn over four years to invest in offices for rent, hotels and residences. It is retaining its 2017 revenue target of Bt4bn. (Thun Hoon, 12/9/17)
Comment: If that’s the case then they’ll need to raise capital quite substantially.
SIRI
SIRI expects 2017 revenue to reach target of Bt40bn. It is preparing to launch 12-13 new projects. It expects 2017 revenue from foreign buyers will grow to Bt8bn and for revenue to reach Bt34bn as it has Bt34bn of backlog that will be booked this year. (Khao Hoon, 12/9/17)

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