Names today: AIRA, AJD, AIRP, CK, GLOBAL, J, JWD, KKC, KTC, ML, PDF, PLANB, PTTGC, SC, SPI, STA, TOG
The company targets private loan portfolio of over Bt2.5bn in 2016. It has opened four new branches this year and plans to reach total of 15 branches next year, with an additional 50 booths in 2016. (Thun Hoon, 5/11/15)
AJD announced it has begun preliminary investment talks with Alibaba Group, but has not yet reached any agreement. It is engaged in another investment deal in the logistics business with YTO Express which should be concluded by end-2015, after which it will be submitted to the board for approval. (Thun Hoon, 5/11/15)
The company is confident it will turn to profitability by 4Q15, driven by Thailand Com Mart exhibition before yearend. (Thun Hoon, 5/11/15)
The company said it has backlog of Bt90bn and plans to realize revenue of Bt8-9bn in 4Q15. It is confident it will secure more backlog from government infrastructure projects, expecting to win 20-25% of a total value of Bt100bn. (Thun Hoon, 5/11/15)
Comment: Two things, 1) Infra projects 2) BMCL and BECL merging
Suwanee Homecenter plans IPO in Lao Securities Exchange. Executives plan for roadshow in November. (Thun Hoon, 5/11/15)
Comment: This could explain some of the strength in the stock price despite earnings being average at best. Still consider it to be a poor version of HMPRO, it’s inventory turnover is atrocious
IPO book building a success. It sold out the entire 120.39 million shares at Bt2.77 each. (Thun Hoon, 5/11/15)
Comment: Expect an amazing first day as per usual.
JWD targets 2016 growth of 10% from this year’s revenue of Bt2.2bn, driven by new customers from AEC. It also has a plan to set up an REIT in the future. (Thun Hoon, 5/11/15)
Comment: Was quite interested in this company, kicking myself for missing it’s recent run.
Earnings hit a many-year high at Bt258mn (350% growth), after a strategic investment of more than Bt300mn in an additional production line for compressor motors (high margin product). THB depreciation also helped boost profit. (Thun Hoon, 5/11/15)
Comment: Stock appears to have priced this in already
KTC issues Bt1bn debenture with 1-year maturity, offering a rate of 3.9%, targeting local institutional and high net worth investors. TRIS rates this issue at A-. (Thun Hoon, 5/11/15)
ML reaffirms strong margin in 2015, after expanding auto loan business. This year margin should be higher than 10%, despite a slowdown in the finance business caused by the economic slowdown. It is confident that 2016 loan growth should return to a normal growth rate of 10%. (Thun Hoon, 5/11/15)
The company expects 3Q15 profit to growth 100% driven by a new customer base, making 2015 a year of strong growth. It plans to expand abroad via local player partnership, starting with Cambodia next year. (Thun Hoon, 5/11/15)
PLANB’s board approved subsidiary’s purchase of acquire 40% of Sanctuary Billboard to expand its media business to Malaysia. (Krungthep Turakij, 5/11/15)
Comment: MACO had been talking about expanding regionally for years but never did it, good to see PLANB actually execute on its plans.
PTTGC invested US$100 million in a complex in the US. Further details will be released in mid-2016. The company is expected to announce its 3Q15 earnings on November 9. (Thun Hoon, 5/11/15)
SC expects to post stronger earnings growth in 4Q15 due to a higher transfer rate. The company expects to book 20% of its Bt9bn backlog. It also launched two new projects in 4Q15. (Thun Hoon, 5/11/15)
SPI expects to see stronger sales in 2016 compared to this year’s weak data. The company says it has new investment projects but it will wait a little while for the economy to show further improvement. The company views that the Thai economy has bottomed out. (Thun Hoon, 5/11/15)
STA hints that it will post strong profit this year after implementing cost reduction measures. Note that the company posted net profit of Bt1.903bn in 2014. (Thun Hoon, 5/11/15)
TOG is in the process of expanding its client base to include wholesale, large retailers and OEM. The company believes this will lead to stronger income. It is thinking about cooperating with Myanmar and Indonesia to strengthen its business base. (Thun Hoon, 5/11/15)