BEM sees 10% ridership growth this year to 500K/day from extension of Blue Line, sets 25% revenue growth target next year, free trial run Blue line extension Hua Lamphong-Bang Khae MRT from Jul 29 – Sept 28, expects FY20 ridership +25% yoy.

Comment: For BEM – specific to the MRT – it’s a scale game, the current line isn’t enough at the moment to drive profits. However you’ll see that once a few more lines have opened up how the game will change for them. 

CHAYO reassures solid 2Q driven by debt collection service revenue and Bt39b bad debts under management, to bid Bt2b-4b unsecured loans NPL in 3/4Q, in talk property developers to jointly develop lands in 5-6 locations that seized from bad debts, firms on 15% FY19 revenue growth target.

Comment: So they are going towards secured loans – this is a lower risk/return business. According to what we’ve been told by management they the price of unsecured loans has increased from 5% of FV to 6% of FV hence their shift

FORTH announce stock buy back 5.21% of paid-up cap, max 50m shares under Bt300m budgets from Aug 15 till Feb 14,20.

Comment: Ah so first FSMART (their sub) buys back shares and now the parent does the same. I’ve always said that the real value in FORTH is their holding in FSMART. Based on the #’s you’ll see that you’re buying FORTH at THB 2bn net their holding in FSMART.

SCCC expects bottom out 2Q earnings from one-off employee expense charged and 20 days maintenance shutdown of 2 prod units K4 & K6, maintaining positive outlook for cement from strong demand for infrastructure.

Comment: Well this is definitely more of a pure play than SCC for a cement co.

UTP keeps 10% profit growth target from Bt3.76b revenue and Bt777m NP last year, sees strong 2Q, sets Bt200m capex for new Boiler.

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