Names today: BEAUTY, CHG, DTAC, INET, IRPC, QTC, NUSA, PAF, SAPPE, SCI, THANI, TSTH
Beauty expects 4Q15 earnings to be peak on the back of seasonality. It expects 2015 revenue to achieve target of Bt1.7bn (20% growth). It is considering expanding to Asian countries in 2016. It expects this to raise its exports. (Thun Hoon, 03/11/15)
Comment: Given that management continually says the Chinese tourists are one of their biggest customers, it’s no surprise that 4Q should be peak.
CHG has budgeted Bt200mn to take over a hospital on the outskirts of Bangkok which is expected to be finalized this year. It plans to expand upcountry, with full coverage to handle AEC by 2016. It expects to complete 1-2 deals in 2016. (Thun Hoon, 03/11/15)
Comment: BDMS vs CHG, finally some competition.
DTAC expects 4Q15 earnings to be this year’s highest on seasonality. It has kicked off 4G – 1800MHz (using 10MHz) and 4G-2100MHz (using 5MHz), starting in inner CBD. It expects this to increase 4G subscribers to 2.5mn by the end of this year. (Khao Hoon, 03/11/15)
Comment: Will telenor sell it’s stake? Just wondering aloud if I were to buy DTAC as a company versus just as a dividend play what would I value it at…
INET expects 3Q15 earnings to be good with 30% growth in 2015 revenue backed by increasing demand for internet on 4G plus the efforts towards creating a digital economy. It has budgeted Bt1bn to improve its cloud service because of rising demand especially from corporations. It plans to wipe out retained losses and issue a Bt500mn debenture. It plans to set up Inet3 data center to handle upcountry demand. (Thun Hoon, 03/11/15)
IRPC reported 9M15 net profit of Bt8.954bn (+1546%) with US$13.7 market GRM. It is confident its fundamentals are strong. 3Q15 net profit was Bt887mn (+3936%). (Khao Hoon, 03/11/15)
QTC has gotten a Bt100mn project that raises backlog to above Bt500mn. It expects 4Q15 earnings to reach a new high supported by seasonally high orders. It is confident 2016 revenue will achieve its targeted revenue of Bt1bn. (Thun Hoon, 03/11/15)
Comment: They are naturally limited to THB 1 bn because of scale, but a great well-run company nonetheless.
NUSA reported sales of Bt5bn backed by NUSA ONE. It has launched NUSA GRAND SALE marketing campaign to increase sales for the rest of the year. (Khao Hoon, 03/11/15)
PAF plans to wipe out Bt2.45bn retained losses from retained earnings. It plans to ask board approval for business restructuring and increase product lines for sustainable profit growth. (Thun Hoon, 03/11/15)
SAPPE expects 4Q15 earnings to recover backed by higher exports despite the slowdown in 3Q15 earnings. It targets sales of Bt5bn in 2017 as it enters new markets. (Khao Hoon, 03/11/15)
SCI expects to report 3Q15 earnings on Nov 12. It expects 4Q15 earnings to increase backed by Bt100mn in transfers for the EGAT project. It expects electricity post projects to grow about 5- 10% this year. It expects projects in Laos (phase 2 of an improvement in its electricity supply system) to be concluded at the end of this year. (Khao Hoon, 03/11/15)
THANI expects loan portfolio to reach Bt4bn in 4Q15 aided by higher demand for trucks as logistics businesses grow. It expects 2015 loans to achieve target of Bt15bn and targets 20% growth in 2016 on the back of expanding to border countries. It is confident it has enough working capital and plans no capital increase for at least the next couple years. (Thun Hoon, 03/11/15)
Comment: And they hope that their NPL’s will decrease back to normal levels.
TSTH expects government to apply anti dumpling measures on steel from China and Vietnam. It expects this measure to take care of undercutting steel prices.. 3Q15 sales are expected to be better than 2Q15’s 270,000 tons. It expects demand for steel to increase backed by infrastructure projects, especially MRT and motorways. (Thun Hoon, 03/11/15)