GUNKUL is partnering with Kenyor Solar Park Sdn Bhd to build 29.99 MW solar farm in Terengganu, Malaysia for Bt1.350bn. It expects to start commercial operations by December 31, 2020. It targets 2018 revenue to grow by at least 20%. (Thun Hoon, 23/02/18)

IVL targets five-year EBITDA (2017-2021) to reach US$2bn from US$1bn last year and 2018 EBITDA to grow by 25%. It projects an increase in production capacity of 16-17% in 2018 from last year’s 9.1mn tons. It says it is negotiating for an acquisition, which it expects to finalize within 2Q18. (Thun Hoon, 23/02/18)
Comment: And so with the warrants exercised…now what…where else can spreads go from here.

PTG reports 2017 revenue of Bt84.6bn, growing by 31% with oil sales volume growing 18% to 3,377mn liters. 2017 earnings were Bt913.10mn and it announced a dividend of Bt0.17/share, XD on March 6. It says the palm oil complex will start operations in 1Q18 and targets sales volume to grow by 20-25% this year. (Thun Hoon, 23/02/18)
Comments: It’s the growth in non-oil revenues that compound to the excitement of the station growth


PTTEP believes 2018 petroleum sales volume will reach 319,000 bbbl/day backed by the acquisition of the further stake in Bongkot gas field. It says its capital and financial position is strong and it will certainly participate in the bidding for Bongkot and Erawan. (Khao Hoon, 23/02/18)

RS has increased its 2018 revenue target from Bt3.5bn to Bt5.8bn, implying growth of 65%, its highest ever. It projects 2018 earnings to grow by 426% backed by good growth in the health and beauty business, which generated revenue of Bt1.389bn in 2017, growing by 6 times from last year and accounting for 40% of total revenue. (Thun Hoon, 23/02/18)
Comment: And the majority of its profits as well. 

SC’s board approved investment in real estate in the US through subsidiary, SC Alpha Corporation. It also approved a dividend of Bt0.15/share, XD on May 2, 2018 on 2017 earnings of Bt1.256bn. It targets 2018 revenue of Bt17bn, growing 36%. (Khao Hoon, 23/02/18)

SPALI says it will pay a dividend in 2018 at a payout ratio of at least 35% of net profit. It plans to issue a Bt2bn bond in 1Q18. It believes 2018 presales and revenue will achieve target. It currently has backlog of Bt39bn, which will supply revenue for three years. (Thun Hoon, 23/02/18)

TPCH reports 2017 revenue of Bt1bn, growing by 62.5% from last year and earnings at Bt208.10mn. It targets 2018 revenue to grow by 30% backed by the operation of six biomass power plants with total production capacity of 60 MW. (Thun Hoon, 23/02/18)
Comment: And hopefully 1) No more delays in biddings (ha!) 2) No more stupid BE investments (most definitely) 3) No delays in the projects being completed (hmmm….)

WICE reports 2017 earnings of Bt90mn as expected, implying growth of 16% from last year, backed by more clients and the booking of revenue from SEL. It targets 2018 revenue growth of at least 30% to Bt1.8bn. (Thun Hoon, 23/02/18)
Comment: It’s pricing this in as well as the latest acquisition already

    • SC has a decent yield and analysts seems positive on the 2018 outlook. Perhaps you can sit on the yield for a bit?

      So with this Jaymart ICO, I haven’t read anywhere that is has any sort of coupon rate attached to it? So in essence it is an interest free loan to the Jaymart sub?

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