CHAYO has set up a subsidiary to provide loans to borrowers in EEC in 4Q18. It will benefit from entering the Pico finance business after the Finance Ministry gave its approval. It expects 2H18 revenue to grow after acquiring debt from banks. It expects its debt portfolio to reach Bt39bn and targets 2018 revenue growth of 10%. (Thun Hoon, 3/9/18)
Comment: They have bought a f-ton of debt, more than JMT at times. Now it will just come down to what price did they pay and how well can they recuperate their investments/purchases.
MACO is working with different parties to expand its media business in ASEAN. It expects 2H18 results to grow, supported by rising advertising demand. It continues to expand both at home and abroad. (Thun Hoon, 3/9/18)
Comment: I just don’t see what can stop this company from continuing to gain market share. A fragmented market, with weak competitors, and with BTS/VGI backing them, there’s no reason they can’t do something.
MVP expects to benefit from high season at the end of this year after it becoming the organizer for “Thailand Mobile Expo”. Mobile sales in this event are expected to reach Bt1.6-1.7bn. It expects revenue growth of 50% this year. (Thun Hoon, 3/9/18)
Comment: Hmmm…ok, well, where’s the value here?
RS is setting up Multi-Platform Commerce (MPC), Thailand’s first. It expects gross margin of 60-65%. It expects earnings to be a record high this year. It targets revenue to reach Bt10bn in 2022. (Kao Hoon, 3/9/18)
Comment: If you believe, you believe, if you don’t, stay away 😛
SKY is bidding for two projects with total value of Bt4bn. The outcome will be known in September. It plans to bid for more government projects worth more than a billion baht. It expects 2018 revenue to grow YoY and next year’s revenue will be even better. It targets backlog of over Bt1bn this year. (Kao Hoon, 3/9/18)
STA has budgeted Bt1.23bn for subsidiary TK to acquire TKG, a rubber glove manufacturer. The acquisition will raise its production capacity to 2.12mn pieces per year. It announced a dividend of Bt0.25 per share, XD on Sep 13 and payment on Sep 28. (Thun Hoon, 3/9/18)
THG plans to set up hospitals abroad. It expects to sign a contract with a party in Laos in 1-2 months. It expects 2H18 earnings to grow HoH, supported by high season. It expects more patients, pushing its revenue growth to 10% this year. It is setting up Jin Wellbeing phase 2 project which targets seniors. (Thun Hoon, 3/9/18)
Comment: Disguised as a senior home living project, in reality it is just a property sale. And I’m not entirely certain that there is a big enough market in Thailand, that can afford this, because if one could already afford these types of services, then the elders would be taken care of at home.
TMI has budgeted Bt80mn to set up a biomass power plant in Surat Thani after due diligence, underpinning business growth. (Kao Hoon, 3/9/18)
TPLAS says it has sold all 70mn IPO shares as investors are interested in the company. The first day of trade is on Sep 5 on mai. Management plans to use the proceeds to set up factories and machines, supporting plastic bag demand. (Kao Hoon, 3/9/18)
Comment: Small float, small IPO, big first day!