AJD and partners set up two subsidiaries and is taking a stake of over 50%. It expects this to provide growth as well as lower risk from core business. (Thun Hoon, 25/01/17)
AOT expects passenger pass-through to reach 3.87mn with 23,000 flights on Chinese New Year. It says tourists from China dropped to 2.27mn in the last four months. (Kao Hoon, 25/01/17)
Comment: I’m still of the viewpoint that the decline in Chinese tourists is temporary. I wouldn’t be surprised to see the total # of tourists continue to increase substantially over the coming years.
AKR targets 2017 revenue to grow 50% to Bt2.5bn, Bt1.9bn from the transformer business and Bt7bn from MEA and PEA projects. It is watching BOI for solar roof top and tax incentive which will attract more investors. It expects the solar business to provide revenue of Bt2bn for 200 clients (setting up solar service). (Thun Hoon, 25/01/1 7)
AP targets 2017 revenue growth of 10-15% with presales of Bt26bn. It plans to launch 20 projects valued at Bt35bn. Of these projects, 17 are low rise. (Kao Hoon, 25/01/17)
ATP will provide buses for Aisin Thai Automotive Casting. It expects to increase buses by 10. The contract period is May 1, 2017-April 30, 2022. It is preparing the service agreement and the buses. (Kao Hoon, 25/01/17)
BTC expects turnaround in 2017 performance. It targets 2017 revenue to hit Bt180mn thanks to cost controls and increasing service routes (Sriracha and Bangpakong). It plans to invest in other businesses to increase its revenue. It plans to wipe out retained earnings losses of Bt1.4bn. (Thun Hoon, 25/01/17)
CGH expects 2017 performance to be better than last year, backed by more investment in other businesses. It is budgeting to acquire a property business in Europe with a value of over Bt10bn. It expects clarification in 2Q17. (Thun Hoon, 25/01/17)
Comment: Still a rather odd company here. There is value in its holdings and assets, but I’m not quite sure I would be a happy minority investor with this group.
GPSC expects to COD this year with total capacity of 378MW. It expects a project in Laos to COD within 2017-2018. It is waiting for some progress in its project in Myanmar. (Thun Hoon, 25/01/17)
K plans to open an office in Cambodia to broaden its customer base; it expects this to be finalized in July. It sees a positive outlook for Cambodia’s economy. It targets 2017 revenue to grow 30%. (Thun Hoon, 25/01/17)
Comment: They don’t really need to expand to Cambodia for business I think there may only be a few small projects there because theoretically in thailand they should be incredibly busy with the number of new malls that are slated to be launched in the coming years.
KTB expects 1Q17 earnings to reach Bt8.26bn, up 11%QoQ. Behind this is lower provisions. It targets 2016 net profit of Bt34bn, up 5.6%. (Thun Hoon, 25/01/17)
Comment: a new CEO, a government that says “ktb will provide loans to the projects that the other banks won’t” realllllly makes me confident in their future.
MBKET targets 2017 revenue to grow not less than 15% with 25,000 new accounts. It expects this to push up its market share to 9-10%, keeping it at #1. It has 10 more IB deals valued at Bt25bn. (Kao Hoon, 25 /01/17)
PPP is studying investing in biomass and solar power plants via its subsidiary (PPG). It plans to take part in PPA bids from ERC (about 1,000MW). It is talking to a partner in CLMV to invest in 15-20MW after already starting up 15MW. It targets to have 60MW within 3-5 years. It is talking to 4-5 hoteliers about setting up water treatment facilities. (Thun Hoon, 25/01/17)
SCB targets 2017 loan growth of not less than 4-6%. It expects NPLs to be lower because of better asset quality. It expects 2017 net profit to be better than last year. (Kao Hoon, 25/01/17)
SCC will report 2016 earnings today with an estimated net profit of Bt54bn. It expects to pay dividend of Bt8.5/share. (Kao Hoon, 25/01/17)
Comment: Some ST drop is expected with the petrochemical margins being worse on a yoy basis. In the end this is still one of the best managed large cap companies in thailand.
SELIC targets 2017 growth to hit double digits thanks to economic recovery, the introduction of new products and expanding to CLMV. It is budgeting Bt60mn for R&D and machinery improvement. (Kao Hoon, 25/01/17)
SIRI has transferred 100% of The XXXIX by Sansiri condo with a total value of Bt2.86bn. It plans to focus on the high-end market and will launch the 98 Wireless project in March. (Thun Hoon, 25/01/17)
Comment: He’s buying shares again..
SUTHA is in line for Bt1bn in projects from local and Indonesian clients. It expects a decision to be made soon. It expects to have opportunity to get more public projects. It plans to increase capacity via a third plant. (Thun Hoon, 25/01/17)
TPC reported 2016 net profit of Bt3.72bn, up 65%YoY. Behind this is PVC business which benefited from better spread of PVC-EDC/ethylene and PVC-VCM. Its 2016 revenue growth is 2%. It plans to pay a dividend of Bt1.75/share. (Thun Hoon, 25/01/17)
TPIPL says it will be affected by TPIPP’s inability to sign the PPA for its 90MW power plant at Saraburi on time. However, the company has already appealed to ERC. The ERC postponed the signing of the PPA for 290 days. (Kao Hoon, 25/01/17)
Comment: This is a blow to tpipl. The tpipp ipo will most likely be postponed. But if it’s only for 6 months then it’s not the end of the world.
TRT plans to take part in EGAT bids. It expects this to push up its revenue to Bt3bn as targeted. Its backlog is Bt862mn which it expects to book this year. It targets exports of Bt600mn. It recently ramped up capacity at both its old and new plants by 80%. (Thun Hoon, 25/01/17)
TRUE targets Internet broadband subscribers to grow 15% this year on high demand. It is budgeting Bt33bn to improve its coverage as well as launching a marketing campaign to attract customers. (Thun Hoon, 25/01/17)
Comment: a friend commented that perhaps the CEO of true isn’t the fool that I’ve been saying he is for the longest time. He’s just up against the best in the world and that isn’t easy.
TVO expects to benefit from soybean price which increased to US$11/bushel. It believes this reflects the growth of the US economy. (Thun Hoon, 25/01/17)
VGI is cooperating with Alibaba to get ad slots on that company’s e-commerce platform on Alibaba.com . ( Kao Hoon, 25/01/17)
Comment: Ohhhhhh, this could be a game changer in time.