AGE projects revenue proportion from overseas will rise to 30% on an increase in orders from Vietnam and China brought by rising demand for coal. It targets 2018 revenue to grow by 20-25% and currently has backlog of 300,000 tons, all of which will be booked in 1H18. (Thun Hoon, 18/1/18)
LH targets 2018 revenue of Bt36.7bn on current backlog of Bt10bn, which will be booked as revenue over the next two to three years. In 2018 it is going to launch 18 projects worth Bt36.3bn and targets 2018 presales of Bt31bn. It has budgeted Bt13bn to buy land for condominiums. It also plans to issue a new bond worth Bt14bn. (Thun Hoon, 18/1/18)
Comment: The former #1 property developer is back with a bang and huge targets for 2018.
ORI says it will focus on single house and townhouse projects. It currently has backlog of Bt30bn, which will be booked as revenue through 2021. It also believes 2018 revenue and presales will grow more than 50% from 2017 projections. (Thun Hoon, 18/1/18)
Comment: Standard move by a condominium developer to include low-rises
PTT has budgeted Bt585bn for its 5-year investment plan (2018-2022). It estimates crude oil price at US$55/barrel and plans to invest continuously. PTTEP is looking for opportunities to expand its investment in Southeast Asia and targets 2018 petroleum sales volume of 300,000 bbl/day. (Thun Hoon, 18/1/18)
SAPPE expects higher sales growth in 2018 than 2017 as it plans to launch at least three to four products this year. It has budgeted Bt50mn to expand production line and for market expansion in Asia. (Thun Hoon, 18/1/18)
THG is negotiating with a party and expects to finalize a deal within two weeks. It will continue to invest both at home and elsewhere in Southeast Asia as outlined in its business plan and projects an increase in patient beds of 200 in 2018. It plans to focus on hospital management business both domestics and overseas and expects revenue proportion from this business will rise to 30% from 20% in 2017. It says the market for medical services for the elderly is strong, with high purchasing power. (Thun Hoon, 18/1/18)
Comment: One of the few IPOs to not perform for as long as I can remember. From whispers this deal is supposedly a positive. But its still the most expensive hospital stock..
TPCH is focusing on domestic energy business and plans to bid for a 20MW biomass power plant and to request a license for VSPP Semi Firm with capacity of 280MW. It plans to use debt financing for its investment, as D/E is low at 1x. It also plans to conduct a roadshow for investors in domestics and overseas. (Thun Hoon, 18/1/18)
Comment: TPCH had a disappointing in 2017 with its B/E being written off, a few delays, and not participating in the SPP bidding. Regardless the numbers are straightfwd here
TPOLY plans to grow 2018 revenue by at least 10% as it is going to book revenue from backlog of Bt3bn and is going to sign contracts for many construction projects, including the construction of three power plants. It is also going to bid for new projects worth Bt15bn, of which it expects to win 30%. It plans to focus on system installation, for which it expects high margin of 30-40%. (Thun Hoon, 18/1/18)
Comment: See TPCH.
VNG has budgeted Bt2bn to build a particle board plant. It expects to start construction by the end of 2018. It plans to increase production of MDF board, which will start in 2Q18. It targets 2018 revenue to grow by 10-15% and says its 9.9 MW biomass power plant will start commercial operations at the end of 2019. (Thun Hoon, 18/1/18)