BAY targets corporate loans and deposits to grow by 6-8% this year in tandem with projected GDP growth of 4%. It targets SME loan growth of 14% in 2018 and expects this growth to reach 20% in three years. It says its NPLs remain low compared to peers and views the establishment of banking agents will facilitate and benefit its clients. (Thun Hoon, 21/02/18)
Comment: It’s effectively taking market share from other players in the market with this strategy. And similar to what has been with other banks in the past there should be an increase in NIM by targeting the SME segment
GCC projects sales growth of 10-15% of methyl esters in 2018 to 100,000-150,000 tons. Production capacity of fatty alcohol will remain stable from last year at 110,000 tons. It plans to open four new projects this year. (Thun Hoon, 21/02/18)
PLAT has set a five-year investment budget of Bt9.9bn to develop shopping centers and hotels, aiming to raise total leasable area to 100,000 sq.m. It targets 2018 revenue to grow by 5% from 2017 revenue of Bt2.059bn as it plans to raise rents in its fashion mall by 3-5%. (Khao Hoon, 21/02/18)
PSH launched six new projects in January, generating presales of Bt3.7bn. It currently has backlog of Bt27bn, of which Bt14.8bn will be booked as revenue this year. It has budgeted Bt16bn to buy land. (Thun Hoon, 21/02/18)
Comment: The #1 player in the market has been struggling to show growth in the past few years, a function of the market and the size of the business today.
PTT announced a par split from Bt10 to Bt1 and a dividend of Bt12/share after it reported 2017 earnings of Bt135bn, rising by Bt40bn or 42.9% from last year. It projects average Dubai crude oil price at US$60-65/barrel. (Thun Hoon, 21/02/18)
Comment: BOOM! Up +5% as of writing. Why? Just oil prices last year and a par split. Nothing magical
SPALI’s 2017 earnings made a new high of Bt5.81205bn, implying growth of 19% after many clients transferred titles and including a Bt451mn extra gain from the sale of an office building in the Philippines. It currently has backlog of approximately Bt40bn, of which Bt12.527bn will be booked as revenue this year . (Thun Hoon, 21/02/18)
TASCO plans to budget US$150mn to increase production capacity of its refinery in Malaysia to 2.4mn tons, which it expects to finalize in 3Q18. It targets 2018 asphalt sales at 1.9-2mn tons, stable from last year. It expects the government will budget Bt10bn more for public investment this year. (Khao Hoon, 21/02/18)
Comment: A spread game for TASCO.
TU reported 2017 revenue of Bt136.535bn and earnings of Bt6.021bn, a new high on good growth of sales in overseas markets in North America, Europe, Japan and China. It announced a dividend of Bt0.34/share, XD on March 6. (Thun Hoon, 21/02/18)
UV plans to issue a Bt1bn bond to fund land purchases. It expects the plan to finalize within 1H18. It also plans to launch new projects worth Bt12bn in order to raise backlog from Bt400mn now. It targets 2018 presales to reach Bt10bn from both new and existing projects. (Thun Hoon, 21/02/18)