BCP
BCP projects 2018 gross refining margin will be close to 2017’s at US$6-7/bbl and average production volume of 111,000 bbl/day. It believes demand will still be high and plans to list BBGI in the stock market in 4Q18. (Thun Hoon, 23/11/17)
Comment: They don’t really talk much about the failed investment in the oil company they bought years ago and it looks like they are utilising the current wonderful performance to write it off
CHO
CHO plans to join the new round of BMTA’s bidding for 489 NGV buses. It believes 2017 earnings will turn around, as it has solid backlog of Bt2.366bn, part of which will be booked as revenue in 4Q17. (Thun Hoon, 23/11/17)
ECF
ECF says 4Q17’s result will continue to grow and it believes 2017 revenue will achieve target, as both furniture production and distribution and energy businesses have a good outlook. It plans to COD a 2 MW biomass power plant in Phrae in 1Q18. (Thun Hoon, 23/11/17)
KTB
KTB’s loan growth turned positive at 3.2% in October 2017 from lending to government projects. It believes loans will grow by 7% in 2018 in tandem with economic recovery. It expects NPLs to come down in 4Q17 after selling Bt8bn in NPLs. (Khao Hoon, 23/11/17)
LH
LH plans to launch 20 projects in 2018; it will focus on single house and town house projects for the high-end segment and increase the launch of condos adjacent BTS lines. It also plans to raise the proportion of property for lease to 20% to build on its successful move to buy and develop properties for rent and resale, providing a high profit margin of 25%. (Thun Hoon, 23/11/17)
ORI
ORI targets 2018 revenue to reach Bt14bn; current backlog is Bt29.3bn, a portion of which will be booked as revenue in 2018. It also targets 2018 presales of Bt18bn, growing 50% from this year. It plans to launch 12 new projects worth Bt25bn and raise the revenue proportion from foreign customers. It is budgeting Bt5bn to buy land and build storage units and plans to list its subsidiary Primo in the next two years. (Thun Hoon, 23/11/17)
PTG
PTG targets 2018 revenue to exceed Bt100bn with a projected growth in sales volume of 20% and an increase in the number of gas stations to 2,000. It is budgeting Bt5bn to expand its businesses as it plans to acquire and do 2-3 joint ventures deals in 1Q18. (Khao Hoon, 23/11/17)
Comment: I think that this company is just going from strength to strength.
TVO
TVO has bottomed out with 4Q17 looking more positive, with selling prices picking up and orders rising. It expects 2018 earnings to grow 55% from this year’s projection of Bt1.21bn, as the decline in global supply has raised demand significantly. (Thun Hoon, 23/11/ 17)
Comment: Part of me thinks that this could be a decent time to relook at TVO if things really have turned around, thats the problem with commodity related names, trying to figure out where the industry is in the cycle
VIBHA
VIBHA is expanding its foreign customer base and plans an acquisition to strengthen its business. It targets 2018 earnings to grow by 20%. (Thun Hoon, 23/11/17)
Comment: Despite being the second largest hospital group in Thailand I’m not quite impressed by their corporate holding decisions. It’s a messy shareholder structure amongst the entire group and their moves aren’t necessarily positive for minority shareholders 

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