GLOW
GLOW reported 2Q18 earnings of Bt1.8bn, down 36.5% YoY. 1H18 earnings were Bt4.4bn, down 6.7% YoY, due to higher maintenance cost and FX loss. (Kao Hoon, 1/8/18)
Comment: Interesting, just as the acquisition is completed does GLOW report weaker earnings.
HMPRO
HMPRO posted 2Q18 earnings of Bt1.3bn, up 16.03% YoY. 1H18 earnings were Bt2.56bn, up 17.62% YoY, supported by SSS growth and the addition of two stores. (Kao Hoon, 1/8/18)
Comment: Watch the malaysia operations, its going to drive the business for years. Question is just what price do you want to pay for all of this?
HPT
HPT expects 2H18 revenue to be better than 1H18, supported by new orders. It maintains its revenue growth target at 10-15% for 2018. It also plans to expand its business in AEC. (Thun Hoon, 1/8/18)
IVL
IVL acquired 100% stake in Sorela. The acquisition is expected to complete in 2H18. Solera is the biggest plastic recycle factory in Europe with capacity of 52,000 tons/year, which will support the demand growth of PET. (Kao Hoon, 1/8/18)
MINT
MINT says it has secured contractual rights to purchase another 5.7% in NHH from Oceanwood with purchase value of Bt5.35bn. When including 8.4% bought from the HNA group, the firm will hold 44% of NHH shares from the previous 29.8%. Total value of investment in NHH will be Bt35bn. (Kao Hoon, 1/8/18)
Comment: Here’s the q for MINT, if you know its EBITDA will effectively double, but the interest and the debt repayments are going to kill the CF, when would you buy it?
SAT
SAT expects to receive new orders from foreign customers in 4Q18, which is expected to boost 2H18 earnings. It expects gross margin to improve to 15.93%. It expects 2018 revenue to grow in tandem with the growth of the automotive industry. It plans to negotiate M&A to expand business. (Thun Hoon, 1/8/18)
SKE
SKE to benefit from high season. It expects new orders to increase and support revenue in 3Q18. Management expects 2018 revenue growth of 15% YoY. It plans to invest in 9.9MW in Maekrating biomass power plant and expects to sell electricity in mid-2019. (Thun Hoon, 1/8/18) SSP SSN is having subsidiary SN invest in 691 kW in two solar rooftop projects with total value of Bt21mn, supporting its business growth. (Kao Hoon, 1/8/18)
TASCO
TASCO reports the restart of KBC refinery in Malaysia after a fire. It resumed asphalt production on July 30. (SET, 1/8/18)
Comment: And is it time for that turnaround?
THG
THG will open Ar Yu International hospital in Yangon, Myanmar in August. The hospital has 200 patient beds with strong international standards and a team of specialists. It expects to get both local and foreign clients. (Kao Hoon, 1/8/18)
TLUXE
TLUXE expects 2H18 earnings to be better supported by growth in the pet food business. It plans to invest in a property project in Vietnam. It also plans to launch a condominium in October, which is expected to receive a good response. (Kao Hoon, 1/8/18)

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.