BTW
BTW plans to expand abroad and has no concerns about the US-China trade war. Its CEO says its 1Q18 backlog is Bt567mn and it is waiting to bid for many projects with a total value of more than Bt4bn. (Thun Hoon, 11/7/18)
CRD
CRD was awarded a new project which brought backlog to Bt1bn but it says this year’s revenue will come in below its target of Bt1.5bn due to delays in project completion. It plans to expand its business abroad and is bidding for a Bt400mn project in Laos for which results will be announced this year. (Thun Hoon, 11/7/18)
ERW
ERW plans to operate six new hotels. Renovations at JW Marriott will be completed this year in time for the 2H18 high tourism season. It maintains its 2018 revenue growth target at 10%. (Thun Hoon, 11/7/18)
Comment: Still the best pure play. And despite all the rhetoric about tourism slowing, their hotels are packed.
MTC
MTC expects 2Q18 to be an earnings record, supported by loan growth of 40%. Its CEO revealed that a number of Japanese asset funds are interested in the company and might consider buying some shares. (Kao Hoon, 11/7/18)
Comment: What happens when/if interest rates increase next year?
PF
PF says 2H18 earnings will jump due to booking extra gain of Bt3bn from land sales and presales for of two new projects. It targets revenue growth of 50% to Bt24bn and plans to launch 20 new projects. (Kao Hoon, 11/7/18)
TEAMG
TEAMG says its 180mn IPO shares already sold out. IPO share price is set at Bt2.42 and the first trading day is on July 12. (Kao Hoon, 11/7/18)
Comment: Never heard of them, but looks like the usual story of a small float/small market cap, good first day pop
THG
THG expects 1H18 revenue to grow strongly backed by many patients. It plans a new project “Jin Wellbeing County” as a concept city for retirement. 140 units in the project are already reserved and it will book revenue within a year. (Kao Hoon, 11/7/18)
Comment: I do like the retirement home w/ hospital services concept, but don’t think THG is the best example of it.
TICON
TICON has a three-year plan with a budget of Bt10bn to expand its business. The new businesses in the pipeline are a data center and smart solutions, for which it targets to be number one in ASEAN in 2020. (Kao Hoon, 11/7/18)
TPIPP
The firm reports that it was able to sell additional electricity of 100MW in 2Q18, bringing total electricity sales for 2Q18 to 259MW, a significant jump from 1Q18. For this reason, the firm is confident about the bright earnings outlook in 2Q18. (Kao Hoon, 11/7/18).
Comment: Still on track for a….7% dividend yield next year?
TPOLY
TPOLY continues to receive more high-margin projects, which will further expand its gross margin to more than 10%. It has begun the acquisition of M&E engineer system project. It expects 2018 revenue growth of 10% and Bt4.5bn backlog. It is preparing to bid for many projects in total more than Bt20bn. (Thun Hoon, 11/7/18)
Comment: Well then, the value is still in the holding of TPCH despite the share price declines
WP
WP plans to wipe out its accumulated loss of Bt320mn this year and to start paying a dividend next year. It expects its performance to be strong and 2H18 revenue to grow more than 1H18, supported by rising LPG demand (Kao Hoon, 11/7/18)

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