ADVANC wins favorable court ruling after Central Admin Court dismisses TOT’s petition for rev sharing worth Bt1.38b.

ASIAN sets Bt400m capex to upgrade machines to automate production line for its seafood & pet food productions, aiming to improve hygenic, reduce human involvement & save labor cost.

BAM sets Bt15b capex distressed assets acquisitions, target Bt17b revenue this year.

Comment: That’s not enough demand, new bad debt last year was THB 70 bn, BAM and the 3 big ones only can get THB 50 bn.

BCH’s 50k doses of Covid vaccine from AstraZeneca to arrive in February, remained 150k doses in March-April, sees strong revenue from Covid test from exclusive right to examine cases in 480 fresh markets in 3 provinces including BKK, Nonthaburi and Pathumthani, average 5k cases/day, tailwind from SSO patients and cod of 2 hospitals this year to boost earnings.

Comment: So if I get the vaccine, then what? Can I fly without requiring quarantines? Wtf is this useless government doing? Great for BCH, it’ll drive traffic.

BCP: MOF cuts holding by 5.2957% to 4.8276% of total outstanding last Tuesday (Jan 19).

CPF reports sold-out 5 tranches of CD, paying 1.75-3.8% p.a.

Comment: You can’t beat them on financing costs.

KK eyes 20% FY21 revenue growth target above Bt1.2b driven by strong grocery sales at 28 branches thanks to shopping stimulus, targets FY21 SSSG no less than 5%, will open 3 outlets this year.

ORI signs JV JWD to expand smart warehouse, aiming to branch out from residential developers to commercial/industrial property to capture growth from logistic business.

Comment: I’m impressed by the banks willingness to keep this overleveraged property developer (ORI not JWD) alive.

PIMO sets 20% revenue growth target this year, on rising electric motor demand, seeking partner for its motorbike electric motors.

PTG and partner will open 5 EV charging stations by Feb, target 30 by end of year, mulls setting up ethanol plant with Bt100-200m investment.

Comment: PTT + GPSC vs PTG and the rest of the industry. PTG has the locations in place, and adding charging stations is nothing capex wise.

RBF’s firm on growth momentum this year from 10-12% growth last year on higher orders, to boost exports to Asean to 20-25% of revenue in 3-5 years, on track to invest Bt200-250m in Indonesia plant once the pandemic is under control.

Comment: It’s the margin growth you’ll have to follow.

STGT reaffirms big jump 4Q20 from strong rubber gloves sales, upbeats outlook from healthy backlog to realize over next 3 years, higher selling price yoy and full year recognition of total production capacity 36b pieces p.a. vs 33b FY20.

Comment: The volumes and pricing are confirmed for the next few years, but this name may amusingly become a “value trap”

TNP mulls opening 4-5 grocery shops this year, will add high margins products to capitalize on shopping stimulus.

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