ADB expects adhesive and sealant demand to grow in 2H18. It plans to expand both in domestic and foreign markets. It is controlling cost to keep gross margin stable. It reported 1H18 earnings of Bt16.43mn, +1,225%. (Thun Hoon, 17/9/18)
Comment: Magical numbers…
ADVANC expects service revenue to grow 5-7% this year. It is raising its fiberoptic customers and expects to reach 800k clients this year. It expects EBITDA margin of 45-47%. It has Bt80bn cash, of which Bt6bn will be used to pay for the 1800 MHz license on Sep 19. The license expense will not affect overall operating income. (Thun Hoon, 17/9/18)
Comment: Given the crap that True and DTAC are going through, isn’t it obvious that AIS will be the clear winner?
CRANE was awarded a groundwork project worth Bt110mn and will sign the contract soon. Backlog has increased to Bt900mn and will be booked as revenue this and next year. It is bidding for projects with total value of Bt300mn. It hopes that general election will support construction demand. It has budgeted Bt200-300bn to purchase new machines. (Thun Hoon, 17/9/18)
Comment: Going into SEAFCO’s market, but there is enough demand for this type of service..
DTAC relieved about expiring concession after Court ruling. The Central Administrative Court on Friday issued an injunction against the telecom regulator, allowing customers of DTAC to continue using the 850MHz mobile phone spectrum for another three months. (Thun Hoon, 17/9/18)
Comment: And so no issues in the end…
EPCO unveils business plan after a capital increase and distribution of warrants. It plans to use the proceeds to set up two solar farm projects in Vietnam with total electricity generation capacity of 109.76MW. It expects return of over 18%. It plans to acquire a publisher. (Kao Hoon, 17/9/18)
FSMART is unconcerned about new competitors in front of 7-Eleven convenience stores. Its Boonterm top-up machines offer more than 79 services and it plans to launch a new service, the sale of mobile phone SIM cards this year. It expects 2H18 earnings to grow. It plans to set up 5,000 more Boonterm machines this year. It expects revenue to grow in double digits with top-up volume growth of 20% (Kao Hoon, 17/9/18)
Comment: No they are going to get hurt. It was only a matter of time for True to come and do the same…plus squeezed margins….will there still be value in FSMART? Sure but not at the high rates there used to be.
GULF signed a contract with EGAT to provide engineer consulting services. It plans to set up a 500MW IPP power plant, with completion in 2024. It expects the power plant to generate revenue of Bt140-150bn per year. It has set up a subsidiary in Mauritius to support foreign expansion. (Thun Hoon, 17/9/18)
PSTC will start operations of a 5.6MW biomass power plant in 4Q18, increasing electricity generation capacity to 35.6 MW. Management plans to bid for installation of government electrical system. It believes that government will spend substantially. (Thun Hoon, 17/9/18)
PTTEP expects 3Q18 earnings to turn around to more Bt10bn because of a rise in sales volume to 308k bbl/day and FX gain. It says the Bt2.4bn loss of Montara gas field will have little effect on its fundamentals. (Kao Hoon, 17/9/18)
SELIC expects 2H18 results to be supported by high season. It plans to launch new products. It is speeding up the search for new customers as well as keeping old customers. It hopes the general election will help bring investment recovery and raise demand for adhesive products. It expects revenue growth of 10% this year from last year’s Bt595mn. (Thun Hoon, 17/9/18)
TRITN board approved private placement and issue of warrants to Asia Alpha Equity Fund 3-BROOK. The PP will consist of 1,600mn shares, priced at Bt0.35/share. It will use the proceeds to support construction of mega projects. (Kao Hoon, 17/9/18)
Comment: Hmmm, there’s been a lot of “funny” things happening at this company
WHA says it is revising its five-year business plan after the announcement of a general election and support from the EEC. It expects revenue growth of 20% this year. Land sales are expected to reach 1,400 rai this year. IRPC and WHA will co-develop an industrial estate that will open for sale in 2020. (Kao Hoon, 17/9/18)