ACAP reported 3Q15 net profit of Bt3.82mn backed by loan growth. It expects 2016 revenue to be good as it focuses on SME loans. It targets Bt600mn in SME loans in 2016. (Khao Hoon, 24/11/15)
Comment: That is their existing business line, there were talks that it was going to expand into other businesses as well. ACAP had always been a rather cheap company on asset value that every once in a while became popular with retail investors, I am curious to see what the new shareholders will do here

AKR and Nonthaburi cooperatives take part in 5MW solar farm in government unit bidding. It has bid in the Bt1.5bn transformer project for the PEA, winner of which is expected to be announced by this year. (Khao Hoon, 24/11/15)

BROCK expects 2015 revenue growth to meet its 10% target. It expects 4Q15 earnings to be good backed by transfers from Bt40mn backlog. It plans to invest in mix-use property in Phuket (500 rai, valued at Bt10bn). It expects 2016 revenue to be good on government property stimulus measures. (Thun Hoon, 24/11/15)

BTS expects 2HFY16 to be better than 1HFY16 on seasonality. It has budgeted Bt10bn to invest in MRT Green Line. It expects FY2016 revenue to grow 5-10% on the back of 4-6% passenger growth. It plans to sell concessions to BTSGIF. (Khao Hoon, 24/11/15)
Comment: Have a look at their balance sheet and then you’ll understand exactly what BTS’s business model is.

EPG targets FY2016 revenue of Bt10bn (+20%growth) from 2015’s Bt8.5-9bn. It plans to take over five companies overseas which will increase its growth. (Thun Hoon, 24/11/15)
Comment: Just incredible performance from this company (bang head against the wall for missing it)

FSMART expects net profit to reach a new high after 9M top-up revenue surged above Bt10bn. It targets 57,000 top-up machines this year. It expects 2016 revenue to be good because of expansion upcountry. (Thun Hoon, 24/11/15)
Comment: Their opp day just passed and it’s the same story for them. I do wonder if/when they can replicate this performance in other countries.

IFEC has entered into share purchase agreement for a 33MW wind power plant at Jeju Island, South Korea. It expects to sign the MoU for the 28MW Vietnam wind power plant (from total 210MW). It expects to win the bid for a 106.5MW wind power plant in Australia. It expects 2015 net profit of Bt400mn. (Khao Hoon, 24/11/15)
Comment: Wait…with what cash? And where are these magical profits?

JMT has budgeted Bt1.6bn to buy bad debt and add new branches. It expects 2015 net profit to grow 20-30% from last year’s Bt120mn backed by increasing debt collections and support from personal loans. (Thun Hoon, 24/11/15)
Comment: Far lower than what people expected, perhaps they don’t want to raise the capital required in order to continue their revenue growth

KIAT has acquired 8.8MW biomass power plant which is expected to contribute revenue in 2016. It targets 15% revenue growth next year aided by large orders from Laos and Vietnam. It reported 9M15 net profit of Bt107mn (+61.68%YoY). (Thun Hoon, 24/11/15)

TICON targets 2016 revenue growth of 5-10%. It has budgeted Bt4.28bn to expand its RBF and WH. Its five-year capex plan is Bt33.17bn. It expects to report net profit this year after selling assets to an REIT. (Khao Hoon, 24/11/15)
Comment: If you want to understand what has happened to Thailand’s export sector, look at Ticon’s utilisation rates.

TKT got a Bt300mn project from an automotive company that increased backlog from Bt250mn. It expects this backlog to cover revenue for the next three years. It expects 2015 revenue of Bt1.3bn on the back of large orders. It reported 3Q15 net profit growth of 700% from last year. (Thun Hoon, 24/11/15)

TPOLY got Bt700mn in public projects that raised its backlog to Bt4bn. It expects to take part in more project bids. It expects 2015 revenue to achieve target of Bt2.5bn backed by numerous orders. (Thun Hoon, 24/11/15)
Comment: Combine this with the fact that they have a stake in TPCH AND management is rather confident they will not have losses anymore.

TU expects to complete the Bumble Bee deal in December. It expects 2015 revenue to grow only 7% affected by lower tuna price and euro depreciation but it expects net profit to be good backed by recovery in shrimp and feed. (Thun Hoon, 24/11/15)

TVT reported 9M15 net profit of Bt24.9mn (+484%). (Thun Hoon, 24/11/15)

UNIQ’s backlog is Bt27bn and it expects to be awarded more. It expects 2015 revenue to be no less than Bt12bn. It expects to pass the qualification stage for the dual-track project (Jira – Khon Kaen) for which qualified bidders will be announced on Nov 24 and the winner on Dec 8. (Thun Hoon, 24/11/15)
Comment: We do wonder if/when they’ll be able to bid for concessions

  1. Hi Pon.

    I am thinking about buying Ticon’s new offer TREIT.
    I have been on the phone for the last hour trying to find out the answer to a simple question; what is the projected dividend yield for TREIT? Do you have any idea of what it will roughly pay? Thanks for any comment or information you can give.

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