BGRIM
BGRIM plans to add 400 MW to production capacity this year. It reported 2017 earnings of Bt2.126bn and announced a dividend of Bt0.3/share, XD on March 20 . (Khao Hoon, 05/03/18)
Comment: Just part of the plan, same story as with GULF, TPIPP

BR
BR targets 2018 revenue growth of 10-12% from 2017 and plans to penetrate new markets in Asia and Hong Kong. It expects to start operations of a food processing plant in 3Q18 and to start the construction of a duck production plant in Indonesia this year; it has already acquired the land. (Thun Hoon, 05/03/18)

DCON
DCON targets 2018 revenue to reach Bt1.8bn backed by higher construction materials sales and growth in its real estate business. It is going to launch s new condominium, DCON Prime Rattanathibet, worth Bt1.6bn on March 31. (Thun Hoon, 05/03/18)

EA
EA plans to restructure to a holding company since it is operating many businesses. It expects to finalize the plan in 2019. It believes revenue will continue to grow strongly and is going to start commercial operations and book revenue from power plants producing 664 MW. It has budgeted Bt700mn to set up 1,000 EV charging stations. It announced a dividend of Bt0.2/share. (Thun Hoon, 05/03/18)
Comment: It will be interesting to see what happens if the EV doesn’t take off, there’s a lot of competition coming for this space.

EPCO
EPCO reported 2017 net profit of Bt207mn, growing 74.5% and announced an interim dividend of Bt0.05/share, payment on May 23. It currently has 435MW electricity production capacity and plans to list Eastern Power Group (EP) on the stock market in 2018; it plans to provide shares to existing shareholders in the proportion of 4 EPCO shares for 1 EP share. (Thun Hoon, 05/03/18)

ERW
ERW targets 2018 revenue to grow by 10% and has budgeted Bt3bn to open nine hotels, six of them in Thailand and three in the Philippines. It plans to reach 85 hotels with 10,000 rooms. (Thun Hoon, 05/03/18)
Comment: Still love the business, but think its fairly traded now.

ITD
ITD’s 2017 earnings turned positive at Bt412mn on an improved gross margin and Bt7.7bn in revenue from services and sales from progress at Suvarnabhumi Phase 2 and east Orange Line. (Khao Hoon, 05/03/18)

JSP
JSP has budgeted Bt3bn to build new projects and to buy land. It plans to launch four projects worth Bt1.5bn and to raise margin from a greater focus on single and semi-detached houses. It also plans to be a leader in the semi-detached house market with a price of no more than Bt5mn. It targets 2018 revenue of Bt4.5bn with current backlog of approximately Bt3.8bn. (Thun Hoon, 05/03/18)

ORI
ORI reported 2017 earnings of Bt2.021bn, growing 217%, with revenue of Bt10bn. It says 1Q18 outlook is positive and projects to add Bt5bn in backlog in 2018 after launching and opening presales for three Knightsbridge projects worth Bt6bn. It targets 2018 presales to reach Bt20bn. (Thun Hoon, 05/03/18)

TRUE
TRUE reported 2017 earnings of Bt2.323, a turnaround from 2016 thanks to solid growth in broadband and mobile operator business and the sale of assets to DIF. It announced a dividend of Bt0.031/share, XD on March 14. It targets service revenue to grow in the double digits in 1H18. (Khao Hoon, 05/03/18)
Comment: No it was purely thanks to the sale to a DIF, no sale = massive loss

  1. Pon, do you know if Demco is in the running for the 5 upcoming WEH wind farms that are expected online in 2019? Given they were a main contractor for HB2 &3 and Khao Kor?

      • It is very low margin work but the low volume work Demco experienced last year has pushed their EPC operation to barely break even last year, the only saving grace was the dividend income from the wind farms.

  2. Why on earth is True paying a dividend when it may end up doing a recap at some point? This is just poor financial management. A Company that has done multiple recaps shouldn’t think about dividends until it can show a consistent core profit for a few years..

  3. Big correction on EA last two weeks, BGRIM also moved much lower, is this EV jitters or something else.

    Which company will make money from the on coming ”Private Electric Grid Systems” that are taking off elsewhere?

    • BGRIM has nothing to do with EV’s
      Private electric grids was an idea touted by GUNKUL a few years ago, haven’t seen anything new on this. Apparently Phuket was supposed to be the first testing ground.

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