AOT said passengers thru its six airports reached 38m in 1Q19, +4.49% yoy, largely driven by a rebound of Chinese arrivals. Foreigners travelers 23.194m +5.3%, domestic passenger 15.539m -1.2% yoy.

Comment: Just wait for next year’s numbers, I wouldn’t be surprised to see another +20% jump in Chinese tourists

AU target 15% revenue growth this year above Bt1b from positive SSSG, larger stores network at 35 vs 31 in FY18, larger bakery prod capacity, will start selling franchise After You desert café in HK 2H target 6 branches by end of year.

Comment: I am yet to be convinced by their ability to franchise

ITD mulls a multi-billion-baht budget to double rev to Bt30b by 2021, with the bulk of investment to go into hospitality

Comment: On the family’s private books they already have several hotels, I wonder how ITD is going to do this.

KBANK signs Siam Michellin to support Tire Plus franchise financing for SME operators, target Bt1.2b new loans from franchise business this year.

NBTC to hold meeting on remedial plan for digital TV operators today, market expects BEC to return 2 licenses for Bt1.164b compensation, while MCOT to return one for Bt228m, Tabloid.

Comment: Even if this one time payment back to BEC and MCOT does the core industry structure really change? A reduced number of channels = increased market share for the remaining channels? Or is the ad business happy to have shifted away to the internet.

OSP and SAWAD may be added to SET50 index for 2H19 and JAS, BEC, JMT to SET100, Tabloid.

VNG to expand retail sales of MDF, flooring laminate and particle board via DCC’s outlets in 2H, aims to boost margins from current 20-30%.

SYNTEC reports Bt3b construction contracts signed in 1Q, target additional Bt1.5b in 2Q, expects win at least Bt8b by end of year, firms on Bt7.5b full year revenue target.

Comment: Question here is the recognition of margins.

UNIQ firms on Bt16b full year revenue target, Bt13b out of Bt30b backlog (end of-March) to realize this year, will bid additional infra projects combined worth Bt300b, target to win at least 20-25%.

Comment: The pie is so huge @ the moment that UNIQ is still well positioned to win projects, what I’m waiting to see is if they can win a concession project.

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