AAV opens two new routes, Bangkok-Chengdu and Phuket-Kunming, to expand its presence in China. It also has increased the frequency of flights from Bangkok to cities that have high potential in tourism in both domestics and overseas. (Thun Hoon, 7/11/17)
Comment: I do wonder if there will be a natural spillover to the other airline operators within the country and the region from this, or will AirAsia just capture the entire market?
AP signals 2017 presales will reach Bt35bn after 9M17 presales reached target of Bt28.3bn. It plans to launch six new projects worth Bt16.7bn over the rest of the year. (Thun Hoon, 7/11/17)
CKP is researching hydropower plants along the Mekong River in Myanmar and Laos, in order to increase its income sources in the long term. It also researching the possibility of other renewable energy projects. It believes Xayaburi hydropower plant will be able start operations in 2019 as scheduled. (Thun Hoon, 7/11/17)
EA is budgeting Bt300mn to buy an additional 15.49% of Amita, increasing its stake to 50.69% as it plans to fully enter the battery business. (Khao Hoon, 7/11/17)
Comment: With the Thai government apparently focused on battery storage for energy, EA is going all out with Amita.
GPSC reports 3Q17 net profit of Bt888mn, increasing by 22% from 3Q16’s Bt724mn and by 9% from 2Q17’s Bt814mn. (Khao Hoon, 7/11/17)
SKY says backlog has made a new high of Bt1.78mn, which will be booked as revenue through next year. It is going to bid for new projects from the government and to join the bidding for projects worth several hundred million baht with a partner. It also believes 2017 revenue will grow by 50-70% as targeted. (Khao Hoon, 7/11/17)
Comment: I’m guessing there’s a decimal point in the wrong place here.
SPRC says 4Q17 gross refining margin will reach US$8.91/bbl as it enters the high season for demand. It also says that 2018 gross refining margin will reach US$8/bbl, higher than its earlier forecast. It plans to budget US$470mn to increase production capacity. (Khao Hoon, 7/11/17)
TLUXE is preparing to receive A big order from Malaysia of 20-40 tons in November after steadily increasing its presence in markets outside Thailand. This will expand 2017 revenue by 20% it said. It believes 3Q17 sales will be a new high and believes all 19 power plants will COD within this year. It expects revenue will grow to Bt1.8bn as targeted. (Thun Hoon, 7/11/17)
TU reports 3Q17 new high revenue of Bt35bn with net profit of Bt1.7bn, supported by revenue from Red Lobster. It will continue to expand both at home and abroad. (Thun Hoon, 7/11/17)
Comment: I still wonder when it will be considered a consumer brandco