BRR
BRR has budgeted Bt1.1bn to add new product lines and to increase power production capacity. It targets sugar sales to increase by 30% in 2018 from 2017 sales of 250,000 tons on a better harvest. It plans to bid for a 20MW VSPP in the next round of bidding. (Thun Hoon, 22/1/18)
Comment: This is supposed to be occurring in Feb, there are a lot of players going for the 280 MW’s that are up for grabs

GULF / WHAUP
GULF’s board has approved a contract with WHAUP and MITG, a joint venture company between Mitsui and Tokyo Gas, to set up a business to sell and distribute natural gas for industrial clients in Hemaraj Eastern Seaboard Industrial Estate 2 and Hemaraj Eastern Seaboard Industrial Estate 4 through Gulf WHA MT Co., Ltd. (Khao Hoon, 22/1/18)

ICN
ICN is going to bid for new projects worth approximately Bt10bn and targets 2018 revenue growth of 30% on backlog of Bt700mn, most of which will be booked as revenue this year. It says it is negotiating with a partner to expand its business, expecting finalization in 3Q18. (Thun Hoon, 22/1/18)

KTB
KTB targets 2018 loan growth of 6-7% and plans to expand its digital banking footprint in order to improve its business and to achieve its strategy “Banking for the Future “. (Thun Hoon, 22/1/18)

PACE
PACE says Apollo and Goldman Sachs is ready to sell their stakes in PP1 and PP3 to new partners who are interested in investing in the Mahanakorn project. The SEC has extended the deadline for PACE to report the fair value of its investment in PP1 and PP3 to January 31. (Khao Hoon, 22/1/18)
Comment: A few things here, its rather clear to me that they were “creative” with their fair value estimates in 3Q17 to prevent the equity going negative, next apollo and goldman will make out like bandits if this deal is closed, if I was one of the buyers I would happily collude with the others to wait for PACE go to under and pick up the assets at a better price. Then again with SCB providing PACE with life support it probably won’t get to that stage.

PTG
PTG launches the first branch of AUTOBACS, a car service center in PT gas stations. It targets opening 48 branches of this car service center annually inside and outside gas stations. It expects this will strengthen its non-oil business growth. It expects the palm complex project to open in 1Q18 and generate revenue of Bt240mn/year for its 40% stake. (Thun Hoon, 22/1/18)
Comment: Just a continuation of their strategy to utilise their real estate on their gas stations and increase non-oil revenues to 60% from 10% today.

RICHY
RICHY expects new highs in 2018 revenue and earnings from last year; it expects 2018 revenue to be at least Bt3bn. It is going to transfer “Richpark@Triple Station”, worth Bt2.7bn. It plans to launch four projects worth Bt2.7bn this year and has budgeted Bt3bn to buy land. (Thun Hoon, 22/1/18)

SYNTEC
SYNTEC is waiting for the results of bidding for 10 projects worth Bt6.5bn; it expects to know the results this year. It expects this will raise its backlog, now at Bt12bn, which will be booked as revenue through 2019. It targets 2018 revenue growth of at least 5%. (Thun Hoon, 22/1/18)

VTE
VTE plans to sell 300mn newly issued ordinary shares through PP in order to strengthen its financial position, as it is going to use the funds to pay a B/E, which will lower its interest burden and improve net profit. It also plans to increase its stake in GEP to 27%, which will increase its revenue. (T hun Hoon, 22/1/18)

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