ACC plans to take over a 5.5MW solar farm, valued at Bt320mn. It expects this to contribute Bt33mn net profit/year. It plans to issue warrants at a ratio of 4 shares per warrant. Management says it plans to focus on alternative energy business. (Thun Hoon, 12/01/16)
Comment: Thats a fairly decent valuation given that IFEC just spent a (granted at the stupidest highest price any one has ever seen) 155 mn on 1 MW

CPF plans to focus on box lunches via CP Food World. It plans to open new branches, targets to become a food service provider. It plans to open five food courts and six catering facilities this year. (Khao Hoon, 12/01/16)

CWT got Bt300mn job and expects to sign the contract soon. This job increases its backlog to Bt1.5bn which covers revenue until 4Q16. It expects revenue growth of 25% this year aided by numerous orders and the baht weakening. (Thun Hoon, 12/01/16)

DCON is budgeting Bt300-400mn to buy land. It plans to increase sales at DCON prime project. It targets 2016 revenue of Bt1.2bn by expanding its customer base. It expects its orders to increase backed by public projects. (Thun Hoon, 12/01/16)
Comment: The stock price has returned to where it should be, perhaps when the next condominium project is launched shall we see another xmas tree shape in the stock price

DEMCO targets 2016 revenue growth of 10-15% backed by Bt9.45bn work on hand and a portion of the Bt20bn in upcoming bids. It expects to get at least 20%. It expects net profit to be back to normal in 2Q16 without the extra expense for Huai Bong 2 and 3. (Thun Hoon, 12/01/16)
Comment: Not a surprise if you’ve been following the company

EPCO targets power plant capacity of 500MW within 3-5 years. It expects 2016 revenue and net profit to grow 50%. It expects to get 200MW PPA and will have 28.5MW running by the end of this year from the 16.5MW last year. It plans to focus on solar projects in Japan and government units. It expects 2017 net profit to grow 100% backed by listing its subsidiary. (Thun Hoon, 12/01/15)

EPG wound up a roadshow in Singapore with a good response to its strong fundamentals, inclusion in the SET100 and its liquidity. It expects FY2016 revenue of Bt9bn. (Khao Hoon, 12/01/16)
FER expects net profit in 2016. It plans to wipe out retained losses of Bt657.84mn. It plans to focus on alternative energy, targets capacity of 100MW within 3-5 years. It targets capacity of 50MW this year (5-6MW is expected to be operating). It plans to invest in a waste power plant in Chiang Mai and government unit solar farm in Vietnam. (Thun Hoon, 12/01/16)
Comment: Wait what?? Again I hate seeing this type of news because the company doesn’t have the balance sheet necessary to support such a growth path and then an indecent amount of $ will have to be raised, most likely via equity, and minority shareholders get nothing.

GPSC expects to sign contract with Vencorex to supply power for 15 years this month. The contract is valued at Bt2.13bn. (Khao Hoon, 12/01/16)

GUNKUL wound up a roadshow at Singapore where it met good response. It expects 2016 revenue to grow not less than 25% backed by solar and wind power plants. (Thun Hoon, 12/01/16)

IRPC expects its UHV project to complete by 1Q16, increasing its GIM by US$1-2/barrel. It expects the Everest project to contribute profit of Bt10bn this year. It is talking to a partner from Poland which is expected to be finalized by 2Q16. (Khao Hoon, 12/01/16)
Comment: A company that relies on consultants (just look at their past and present project names, phoenix, everest, etcetc) obviously can’t run a company

JMART expects 2016 revenue to grow more than 15% on a rise in smartphone demand to use on 4G. It plans to increase sales by launching a marketing campaign. It targets to maintain gross margin of 19%. (Thun Hoon, 12/01/16)

JWD and RMA group plan to invest in a 7,000 sqm warehouse. They expect this to increase revenue from Laos and Cambodia in 1Q16 and to raise exports to 60-70%. (Thun Hoon, 12/01/16)
Comment: The new WHA, but its already fully valued.

K expects 1Q16 earnings to be good backed by Bt80-120mn in events it will handle. It targets 2016 revenue growth of 20% after achieving its target growth last year. (Thun Hoon, 12/01/16)

LOXLEY expects to benefit from electric bus project after the Ministry of Transport set up a team to take responsibility to provide 20 electric buses. Funding will come from the Energy Conservation Promotion Fund. It plans to take part in the bidding for this project. (Khao Hoon, 12/01/16)

LPN expects transfers of Bt10bn in 1Q16 from Bt11bn work on hand. It expects 2015 revenue of Bt17.6bn (+15%). It plans to launch 15 projects worth a total of Bt20bn. It is budgeting Bt3bn to acquire land in CBD and outskirts. (Thun Hoon, 12/01/16)
Comment: The typical steady growth path of LPN

OCEAN expects 2016 net margin to increase to 6% from last year’s 1-2% after implementing cost controls. It plans to expand abroad with a goal of exports to comprise 15%. It expects Goodyear orders to contribute Bt60mn in revenue this year. (Thun Hoon, 12/01/16)

SAMTEL expects 2016 net profit of Bt757mn (+41%) backed by Bt6.75bn new projects for which it expects to sign contracts in 2Q16. It expects new projects to contribute revenue of 47%. It expects 4Q15 earnings of Bt165mn, which would bring 2015 profit to Bt538mn. (Khao Hoon, 12/01/16)
Comment: Let us hope that there are no Article 112 rumours thrown around this company’s name this year!

SENA plans to launch 7-8 new projects valued at Bt7-8bn. It expects sales of Bt3bn. It expects 2016 revenue growth of 20%. It expects 1Q16 earnings to mark a record high on the back of Bt2.3bn transfers. It is talking to a prospective partner in Japan to invest in power plants which is expected to be concluded soon. (Thun Hoon, 12/01/16)
Comment: Most likely Orix will be their partner

TPCH says the government announcement of an adder is a good sign. It expects a 36MW biomass PPA to be put up for bid in 1H16. It expects 2016 revenue to grow 100% aided by 40MW in new power plants that will boost its total capacity to 60MW. (Khao Hoon, 12/01/16)
Comment: And still on track to hit their targets despite the government’s best efforts to postpone things for the entire industry but being fools

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.