CPT
CPT plans to budget Bt270mn to build A new factory and offices overseas. It targets 2018 revenue growth of 10% from this year as it has a lot of new projects in the pipeline and plans to get new projects worth Bt2.5bn, to raise backlog from the current Bt500mn. It is going to request approval from the board to pay a dividend of almost 100% of earnings. (Thun Hoon, 26/12/17)
Comment: A small IPO that did not perform on its first day, a rarity. Now why would a newly listed entity want to pay 100% of earnings out as dividends in its first full financial year? Doesn’t make sense…
GLAND
GLAND believes 2018 earnings will grow more than 2017 as G Tower is now 100% rented. It is constructing a new project, Super Tower, which it expects to partially open in 2020 with a full opening in 2021. (Thun Hoon, 26/12/17)
Comment: Hmmm, but they’ll probably it spin it off to their GLANDRT so and then require the funds for the super delayed super tower project  
GPI
GPI targets 2018 revenue to grow by 10% as it is going to raise fees for its events by 7%. It is conducting a Motor Show in Myanmar, and expects to start to book revenue immediately. (Khao Hoon, 26/12/17)
HUMAN
HUMAN is in the process of acquiring a new company related to financial and accounting management with projected investment cost of Bt50mn. It targets 2018 revenue to grow by 20-30%, as it believes mid-sized businesses have potential to increase their human resources and it has signed on a new customer, which has 10,000 employees; it will sign the contract and start the service in January 2018. (Thun Hoon, 26/12/ 17)
Comment: Buying revenues in the IT industry in Thailand…not sure that this strategy will actually work
MM
MM has budgeted Bt364mn to acquire a food and beverage company in Paris, “Le Grand Vefour”, in order to expand its investment overseas. (Khao Hoon, 26/12/17)
Comment: This is a ridiculous acquisition, 1 restaurant for THB 364 mn? I don’t know how on earth this makes sense.  Wtf is management doing with shareholder funds? I would love to hear the rationale for this…
PRM
PRM has budgeted Bt702mn to build four new ships in order to strengthen its shipping capacity; the ships are scheduled to be built by 1Q19. (Thun Hoon, 26/12/17)
PSH
PSH expects transfers to reach Bt56bn in 2018, as it plans to focus on premium condominiums along with real estate development in the three EEC provinces, Chachoengsao, Chonburi and Rayong. It is also researching 23 provinces to find new investment opportunities and plans to launch an application that will make it a 24-hour selling center and in order to penetrate to online market. (Thun Ho on, 26/12/17)
Comment: Plus a hospital, plus an office building, I still wonder where is the limit for the residential market in Thailand (or Bangkok).
SYNTEC
SYNTEC has budgeted Bt1bn to acquire 2-3 hotels and resorts in big provinces in order to increase recurring revenue. It targets revenue to grow by 5%, as it currently has backlog of Bt12bn, of which 60% is expected to be booked as revenue in 2018. It is also in the process of filling bids for new projects worth Bt5bn. (Thun Hoon, 26/12/17)
Comment: Would it be too much of a stretch of the imagination for syntec to add additional real estate assets, package this all up and sell everything into a REIT in the next 3-5 years?
VIBHA
VIBHA targets 2018 revenue to grow by at least 10% after the hospital in which it invested begins to generate earnings. It expects revenue and earnings to be solid. It says it is negotiating with a business partner in Myanmar and 2017 revenue growth has exceeded the target of 10%. (Thun Hoon, 26/12/17)
Comment: Their shift in corporate strategy has been confusing and until it is clearer its probably best to stay away.
  1. Looks like Cho and SCN has won the 489 lot of NGV buses uncontested. Looking at the terms, they have to service these buses for 10 yrs so can’t really supply the cheap stuff that breaks after 2-3 years.

    I wonder if they will just sub buy the Bestlin buses that are already sitting in a yard here and resell them to the BMTA…they deny this but I reckon that’s what will happen.

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