AAV is entering high season in 2H17. It says the number of Chinese tourists has picked up since August, lifting its load factor to 84%. It is purchase three new airplanes and will add routes from Don Mueng to Maldives, Jaipur and Tiruchirappalli. (Thun Hoon, 3/10/17)
Comment: Still the best LCC player in Thailand and the region
EPCO signals positive outlook for 2017 revenue after completing the purchase of shares in a 360 MW solar power plant. It is going to book the revenue in full in 2H17 and plans to list subsidiary EP on the stock market in early 2018. Shareholders have approved a stock dividend at a ratio of 20 shares per dividend and a cash dividend of Bt0.03/ share for a total value of Bt63.69mn. (Thun Hoon, 3/10/17)
EPG benefits from a US tax reduction from 35% to 20%. It expects this tax reduction to boost earnings in 2018. Revenue from its business in the US currently accounts for 10% of total revenue and it plans to increase production. (Thun Hoon, 3/10/17)
Comment: Should it happen…
GIFT says 3Q17 revenue will be better than 2Q17. It reports many funds have shown interest in buying its shares. It plans to launch a new product under its own brand in 4Q17 and targets to have four brands in 2018. It expects to raise the proportion of revenue from its own brands to 25-30%. It expects 2017 revenue to grow by 5-10% and plans to increase sales channels. (Thun Hoon, 3/10/17)
Comment: Well they haven’t yet performed as per what they indicated 2 years ago.
SAMART has dropped its mobile phone business and is turning to digital business to be its main source of revenue. It has renamed SIM as SDC and this will operate five businesses. It expects SAMTEL to have backlog of more than Bt10bn and expects 2017 revenue to reach Bt20bn. (Thun Hoon, 3/10/17)
Comment: No surprise for SIM, they only had 1 good year and that was it, the telco’s came in with subsidised handsets and killed SIM.
SPA believes high season of tourism and increasing number of Chinese tourists will significantly expand 2017 revenue and 4Q17 earnings will be the highest in 2017. It expects 2017 revenue to grow by 30% as targeted and to make a new high. It plans to launch three new branches to improve its business fundamentals. (Thun Hoon, 3/10/17)
THANI is planning to expand to CLMV. It believes 2017 earnings will make a new high. It reports that its loan portfolio has reached Bt37-38bn and expects the portfolio to grow by 15- 20% next year, as the outlook for the truck market continues good in line with government investment. (Thun Hoon, 3/10/17)
Comment: And the market is now pricing in this expansion, even though it won’t have an impact on #’s for next … 10 years?
TSE believes 2017 earnings will turn around. It plans to COD another power plant to bring output to 150 MW from 120 MW and will purchase a solar farm in Japan. It reports that it is ready to bid for a PPA for a VSPP Semi Firm in October after making a deal with two partners. (Thun Hoon, 3/10/17)
VTE is going to receive Bt140mn after selling 100% shares of subsidiary VTEC. It plans to use the funds for big construction projects in the future. (Khao Hoon, 3/10/17)