Here’s the headlines from companies during the holiday period – no comments

Stocks in the news (crd, itel, ktb, ktc, maco, meta, ocean, ptt, tasco) 24.12.18

CRD expects many jobs next year, especially from private entities. Management targets revenue of Bt1.6-1.8bn next year from the expected Bt1.3bn this year. It expects backlog to reach Bt1.8bn at yearend and it is preparing to sign a job contract soon. (Thun Hoon, 24/12/18)

ITEL expects revenue growth of 30-40% to reach Bt2bn next year. It revised up this year’s revenue target to Bt1.6bn from Bt1.4bn, supported by all businesses. Backlog is Bt6.06bn which is its record high. It is bidding for both government and private projects. (Thun Hoon, 24/12/18)

KTB’s MD confirmed that the board will approve KTC to provide Fico and Nano finance service and file the application with the BoT as soon as possible. The MD says KTB is firmly in support of KTC and trusts its managements’ skills. As for interest rate, it will not raise deposit and loan interest rates right away. It targets loan growth of 5% in 2019 and earnings will be better than in 2018. (Kao Hoon, 24/12/18)

MACO targets revenue growth of 20% next year. While this year it believes revenue will come in over target of 15-20%, supported by changing billboards to digital screens. It is studying the joint venture plan with Sinarmas Group and will make a decision early next year. (Thun Hoon, 24/12/18)

META expects to get many construction projects both at home and abroad next year. It targets revenue of Bt2.5bn next year and expects this year’s revenue to reach target. It continues to deal with companies to invest in biomass power plant projects, hoping to increase electricity production capacity by 50-100MW. (Thun Hoon, 24/12/18)

OCEAN says its oil palm trading is already 100% secured as many customers have placed orders and it expects to book high revenue. It will issue OCEAN-W3 in January. (Thun Hoon, 24/12/18)

PTT set capex of Bt187bn for New S-Curve businesses, more than its main business five-year capex of Bt167bn, reflecting its focus on high-valued-added business. It will engage in not only the energy business, but will expand to businesses that respond to technology change, consumer behavior, clean energy and country development strategy. (Thun Hoon, 24/12/18)

TASCO relieved as its asphalt sales volume will return to normal at around 1.8-1.9mn tons next year. It expects material cost to fall in line with crude oil price. It will receive compensation for the fire. (Thun Hoon, 24/12/18)

Stocks in the news (coman, gcap, ivl, ner, ori, planb, smm, sti, super, tiger) 25.12.18

COMAN has no acquisition deal next year and it will book a full year of revenue from a subsidiary it has acquired. It expects results to grow by 15-20% next year, focusing on low-end hotel customers as it already has readymade software used in hotels. (Thun Hoon, 25/12/18)

GCAP targets loan growth of 20% next year. It will focus on providing loans to Andaman, a boat tour company, and loans to farmers. It has kept NPL ratio no more than 5%. Its joint venture company, Sabaijai Money, is expected to complete this week. GCAP will adopt AI technology to analyze credit and reduce operating cost. (Thun Hoon, 25/12/18)

IVL announced that it has acquired a PET recycle company, a subsidiary of Custom Polymers PET, LLC in the US. This is the 12th acquisition deal of this year. Its venture capital project, Corpus Christi, already received FTC approval. (Kao Hoon, 25/12/18)

NER expects earnings of Bt12-15bn next year. It expects rubber sales volume to reach 260k tons and production capacity will reach 465k tons per year next year. It will expand in Europe, China and Singapore to increase foreign revenue. (Kao Hoon, 25/12/18)

ORI made a surprise announcement of an interim dividend of Bt0.06 a share with XD on Jan 4 to build confidence in its financial solidity and liquidity after investors became worried about the real estate industry. As for next year’s business plan, it expects revenue growth of 18-20% to Bt19bn and will launch property projects with total value of Bt30bn. (Thun Hoon, 25/12/18)

PLANB is dealing with companies to make venture capital, hoping to engage in online media and advertisement in airports. The deal will be concluded in 1Q19. It targets advertisement area growth of no less than 12-15%. It plans to set up a subsidiary to import sports and fashion apparel with target revenue of Bt5bn. (Thun Hoon, 25/12/18)

SMM wrote off its media business, which did not generate profit. It has restructured its business by a backdoor purchase of TAH2 shares; this is a cable manufacturer and contributor. It will issue 20bn shares and take the proceeds to pay Bt12.9bn for the purchase. The transaction will be completed in 3Q19. It will change its stock abbreviation to “STARK”. (Thun Hoon, 25/12/18)

STI expects 2018 results to be outstanding with 4Q18 to be its best quarter of the year. Backlog is Bt770mn and it plans to bid for many projects next year. (Thun Hoon, 25/12/18)

SUPER’s board approved a budget of Bt3.5bn to acquire two solar farm projects in Vietnam with total electricity production capacity of 100MW. It targets PPA to reach 1,200-1,300MW in the next 1-2 years. It expects revenue of Bt6bn this year and it will start commercial operation of the 28MW second phase of the Agricultural Cooperative solar farm. (Kao Hoon, 25/12/18)

TIGER has gotten jobs. Subsidiary TEC signed an MoU with PTA Construction to process Sadao real estate project in Songkhla worth Bt550mn, raising its backlog to Bt1.34bn. Backlog will be booked as revenue through 2020. Management is confident that revenue and earnings will be a record high next year. (Thun Hoon, 25/12/18)

Stocks in the news (aot, ifec, psh, sisb, tmill, top, ziga) 26.12.18

AOT expects 3.1 million travelers for the holidays. Airports of Thailand Plc (AOT) estimates that 3.1 million passengers will use its six international airports during the year-end holiday, with airlines set to operate a total of 18,300 flights. (Bangkok Post, 26/12/18)

IFEC shareholder voted in to take over company. A group affiliated with Thavich Taychanavakul, a shareholder of SET-listed Inter Far East Energy Corporation Plc (IFEC), has taken control over the company’s business operations after shareholders voted yesterday to appoint seven new directors. (Bangkok Post, 26/12/18)

Pruksa signals caution in 2019. With a sluggish housing market forecast for next year, SET-listed developer Pruksa Holding Plc (PSH) aims to beef up investment in new recurring-income business and raise total revenue to Bt100bn over the next decade. (Bangkok Post, 26/12/18)

SISB insists that it complied with the SEC and SET rules. It is waiting to see if Mr. Juti Krairerk will appeal after the Administrative Court dismissed his action. If he does not appeal within 30 days, the lawsuit will be dropped. SISB targets more than 4,000 students in the next 3-5 years, an increase of 250 each year. It targets revenue growth of 15-20% next year and plans to enter CLMV. (Thun Hoon, 26/12/18)

TMILL is focusing on SMEs, adding to customers to reach 300 nationwide in a highly competitive environment. It vowed to keep gross margin at 15-18%. It will set capex at no more than Bt10mn to purchase a manipulator. The conclusion will be known in January. (Thun Hoon, 26/12/18)

Thai Oil poised for margin growth in 2019. Thai Oil Plc, Thailand’s largest capacity oil refinery, expects sharp growth for its margins in 2019 thanks to global crude oil prices remaining lower, making the spread between raw materials and finished oil wider (Bangkok Post, 26/12/18)

ZIGA expects to increase production capacity in 2Q19, hoping to widen profit margin. It targets sales of Bt1bn next year and it plans to introduce its new business, I-Retail. (Thun Hoon, 26/12/18)

Stocks in the news (bgrim, ddd, gpsc, glow, icn, intuch, ori, kbank, pttgc, tndt, upa) 27.12.18

BGRIM expects to start commercial operation of four solar farm projects on Dec 28 with total electricity production capacity of 20 MW, bringing total electricity production capacity to 2,076MW. It expects revenue of Bt42bn next year and it plans to start commercial operation of a 677MW solar farm in Vietnam. (Kao Hoon, 27/12/18)

DDD expects revenue growth of 20% next year. It is preparing to introduce new four new products, hoping to expand its customer base and distribution channels. It has set capex at Bt40mn to enter new foreign markets. It targets becoming the top skincare product manufacturer with expected revenue growth of 20% a year. (Kao Hoon, 27/12/18)

GLOW takeover gets nod. The Energy Regulatory Commission (ERC) on Wednesday approved the takeover of Glow Energy Plc by Global Power Synergy Plc (GPSC), with the proviso that Glow must sell some of its power plant assets at Map Ta Phut to a third party before the acquisition takes place. (Bangkok Post, 27/12/18)

ICN’s board approved taking 51% Expert Engineering and Communication (EEC). The transaction will be completed in January. It expects revenue growth of no less than 10%. (Thun Hoon, 27/12/18)

INTUCH expects earnings growth, underwritten by subsidiaries ADVANC and THCOM. It has budgeted Bt200mn as venture capital and is negotiating with three companies. It plans to do roadshows in Hong Kong and Singapore to build its credibility. It maintains dividend yield at 6%. (Thun Hoon, 27/12/18)

ORI entered into a joint venture with KBANK to invest in Digital Butler, “BUTLER” mobile application platform developer. Digital Butler’s application provides many services such as housekeeper, home care, laundry, legal entity-home owners linkage etc. The company plans to provide more services through the application in the future (Kao Hoon, 27/12/18)

PTTGC signed a loan agreement to invest in the PA9T-HSBC project, a specialty chemical plant, valued at Bt15bn with production capacity pf 29,000 tons per year. (Kao Hoon, 27/12/18)

TNDT signed an MOU with CGN Dasheng to adopt new technology in its business. Management says the company already passed its bottom. It will book revenue from a 3MW solar rooftop project and it plans to enter new business. (Thun Hoon, 27/12/18)

UPA is working with a partner to study solar farm projects in Thailand, hoping to increase revenue. Its three Agricultural Cooperative solar farm projects with total electricity production capacity of 7.95MW started commercial operation over Nov-Dec. It expects earnings to turn around this year. (Thun Hoon, 27/12/18)

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