Telecoms 

ITEL, SKY, SIMAT, TRUE and LOXLEY were awarded NET USO Zone C project. ITEL received Group 8 South valued at Bt2.46bn. SKY received Group 6 Central 1 valued at Bt2.20bn. SIMAT received Group 4 Northeast 2 valued at Bt2.25bn. TRUE received Group 1 North 1 and Group 7 Central 2 total valued at Bt4.82bn. LOXLEY-SKY joint venture received Group 3 Northeast 1 valued at Bt2.66bn. (Kao Hoon, 14/12/18) 

Comment: Finally some IT projects are being bidded out.

BEM 

BEM expects passengers to grow 10% next year, supported by the opening of the Blue Line extension (Hualampong-Lak2 and Tao Poon-Thapra). It has budgeted Bt6bn to expand the sky train business. It expects passenger trips to reach 500k-550k trips per day. (Thun Hoon, 14/12/18) 

EA 

EA will join with a large company in Laos with investment budget of Bt40bn to invest in energy systems, battery manufacturing and logistics. It plans to export 400k electric cars to Laos next year. (Thun Hoon, 14/12/18) 

Comment: If its domestic company in Laos then it could be only the government electricity co but even they don’t have the balance sheet to support this. So I wonder which Chinese company it is…

FPI 

FPI says 2018 was its nadir. Next year, it expects revenue growth of 10%, aided by expansion into the US, Europe and Australia. It is working to control internal cost to widen margin to 7-8%. After its roadshow abroad, it has received many jobs. It expects to complete the purchase of a 9MW power plant by the end of this year. (Thun Hoon, 14/12/18) 

NWR 

NWR got two projects from STEC with total value of Bt6.63bn to construct the structure and design the train stations for the Yellow and Pink lines. The jobs have a construction period of 950 days. (Kao Hoon, 14/12/18)

Comment: So the sub-contractor’s are going to finally make a $?

PLANB 

PLANB expects 4Q18 to be the year’s peak supported by high season. It expects revenue of Bt3.8- 4bn this year and load factor of 73-75%. It targets revenue to grow by 15-20% with steady media expansion. It plans to increase digital billboard ad rates by 5%. (Kao Hoon, 14/12/18) 

PRM 

PRM expects revenue growth of 12% next year. It is confident in the solidity of all its businesses. Customers continue to increase, especially Chinese. It bought six vessels for Bt6bn. It is negotiating with 3- 4 companies to cooperate in shipping; the decision will be known at the end of next year. (Thun Hoon, 14/12/18) 

PTTEP 

PTTEP and a partner bag rights to two gas fields. PTT Exploration and Production plc (PTTEP) and its partner Mubadala Petroleum (Thailand) Ltd have won Cabinet approval for their multibillion-baht bids to develop and produce natural gas from two major offshore fields in the Gulf of Thailand. (The Nation, 14/12/18) 

Comment: But now this seems to be up in the air…amazing Thailand

RATCH 

RATCH said that it started commercial operations of the 180MW Mount Emerald wind farm in Australia, adding to capacity from renewable power plants abroad. (Kao Hoon, 14/12/18) 

SONIC 

SONIC targets revenue growth of 20% next year and it believes that this year’s results will beat its target. It is studying an M&A which will be clearer at the beginning of next year. Its logistics unit is growing well, in line with import and export value. (Thun Hoon, 14/12/18)

  1. Id like to think that in times like these, you either have a broken company, a broken stock or a broken market. Best to avoid the first one but right now we have a broken market. Let the dust settle and pick the bones for some bargains.

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