BAY

BAY target 6-8% loan growth, NPLs below 2.5%, NIM within 3.4-3.6% for FY19.

JWD

JWD in talk partner to expand F&B business, aims to branch out from food supply chain management & cold storage, expects to close deal in 2H, new cold storage facility in Mahachai to cod in June, firms on 15% revenue growth target.

Comment: They have an incredibly interesting set of businesses and partnerships here

KTB

KTB expects to sign banking agent agreement with Thailand Post Office by end of-Febuary, target e-commerce operators.

RS

RS anticipates big jump 1Q from strong contribution from Shop1781 online business as shopper steer away from outdoor haze.

Comment: And pigs will put on lipstick and fly

TMB/TCAP

Fin Min asks related parties to speed up TMB/TCAP proposed merger deal, wants as much as Bt2.5/share for TMB in the swap in exchange for tax incentives for new entity, Tabloid.

Comment: I’m still doubting that this will proceed

TRC

TRC to sign Bt2.3b underground wiring contract for Metropolitan Electricity Authority (MEA) before end of-1Q lifts backlog >Bt8b, upbeat outlook from turnkey automate warehouse contractor as demand for Automated Storage Retrieval System (AS/RS) grows on improved efficiency.

Comment: It’s the AS/RS system that should be the profit and margin driver for TRC

TU

TU’s partnered with 2 establishments to set up “SPACE-F”, aimed at building an ecosystem for food tech startups and supporting biz expansion into the non-seafood segment.

  1. Hi Pon,
    I see this merge very positive as it will create a bigger group (4th of thailand)… why you have doubt about this operation happening?

    • I don’t see either board/management thinking its the best move.

      I see this as a move by the Finance Ministry to exit their shareholding in TMB. The number eludes my memory atm but the Fin Ministry can’t exit TMB shares unless it is above a certain multiple which is ridiculously high. A merger of these two entities or any entity with TMB for that matter, is a way around this clause and thus allows the Fin Ministry to exit.

  2. Anan just paid a 20% premium to acquire 5% of DTC? Not too happy with this move as a shareholder of Anan. Does not instil much confidence in the property sector going forward.

    • A few thoughts…
      from DTC’s viewpoint – I doubt that the founders were happy to see CPN have such a large stake and therefore this is positive for DTC that it isn’t looked at as a CPN vehicle. I can see DTC utilising their brand for residences/serviced apartments in the future which is what ANAN is currently doing and expanding into.
      from ANAN’s viewpoint – at this morning’s meeting they wouldn’t shed much light upon it until a joint conference was given together. They say its a strategic/financial move. Plus a part of me thinks that DTC is still stupidly cheap depending upon one’s time horizon of course…

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