DELTA
Delta Taiwan upping holding to alleviate trade war risk. The President of DELTA Taiwan reiterated that the increase of the parent company’s holding in DELTA is being undertaken to reduce the risks arising out of a trade. (Thun Hoon, 7/8/18)
Comment: That is the rhetoric from the company…and then the media domestically and internationally have pounced upon this fact that Thailand may be a beneficiary of the trade war between China and the US with manufacturing likely to come here. Well there’s still Vietnam, and Malaysia that could win several companies…
ECF
ECF signed MOU with S-TREK, a big player in the IT market in Thailand, to improve its IT solution business. (Thun Hoon, 7/8/18)
JKN
JKN is negotiating with Jamsai Publishing Co., Ltd. to expand into print media. It will announce the results of the talks in 3Q18. It expects revenue to grow, supported by content exports to many countries for which contracts have already been signed. (Thun Hoon, 7/8/18)
KKP
KKP expects loan growth of 15% this year after 1H18 loan growth broke its target of 5% to 10.2%. 1H18 earnings were Bt3bn. It expects to decrease NPL provisions in 2H18 and to control NPLs to less than 5%. It is focusing on wealth management and loan expansion. (Kao Hoon, 7/8/18)
Comment: Without IFRS9, KKP is also ok for the next 1.5 years
MACO
MACO reported 1H18 earnings of Bt115mn, +31% YoY. 2Q18 earnings were Bt62mn, +22.8% YoY. Revenue rose from rising ad revenue from 35 digital advertising billboards and consolidation of Commas. As a representative of VGI, it plans to expand OOH business abroad. (Kao Hoon, 7/8/18)
Comment: Growth by acquisition and its working for MACO. Current management seems to have a clear vision on how to pull all the different pieces together.
ORI
ORI plans to increase its 2018 revenue targets supported by growth in the property industry and rising demand. It is preparing to launch six new property projects with total value of Bt44bn. (Kao Hoon, 7/8/18)
SCC
SCC has begun the first complex petrochemical project in Vietnam with a budget of Bt180bn. It signed a loan agreement with Mitsui Group in Japan and four Thai commercial banks (BBL, KTB, SCB and EXIM bank) for a total of Bt110bn. The remaining Bt70bn will be sourced from internal cashflow, which will not affect its financial health. The project will start construction in 3Q18 and is scheduled to start up in 1H23. (Kao Hoon, 7/8/18)
Comment: Basically no issues. For the profits, cement is only 1/3 of profits, 2/3’s comes from petrochemicals
SEAOIL
SEAOIL share price rose sharply to Bt2.04 yesterday. Management said there is no change in fundamentals. It has expanded its business in CLMV, raising sales by 20% this year. Management plans to launch new projects to boost its revenue. (Thun Hoon, 7/8/18)
SIRI
SIRI is preparing to issue 3-year debentures of up to Bt5bn with a coupon rate of 3.2% for placement with institutional investors. It will sell the debentures in August through four banks: BBL, KTB, KBANK and SCB. It plans to use the proceeds for refinancing and as working capital. (Kao Hoon, 7/8/18)
SMART
SMART reported a lower loss of Bt10mn in 2Q18. It says lightweight concrete sales recovered. It expects orders to increase in 2H18, backed by construction projects in government and private sectors. (Kao Hoon, 7/8/18)
SMT
SMT targets revenue growth of 40% this year. It maintains gross profit growth target at 19% and expects to sign on 1-2 new customers in 3Q18. (Thun Hoon, 7/8/18)
Comment: Hmmm….they’ve been touting a turnaround for a while..but the major shareholders have been buying the whole way down.
TVD
TVD expects 2H18 results to be strong after the co-production of a home shopping TV program on channel 19 broke even. Earnings are expected to turnaround. It aims to generate profit for the rest of this year with target revenue growth of 17% this year. (Thun Hoon, 7/8/18)

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