AKR
AKR expects 2016 revenue to grow 25% from 2015’s Bt2.11bn. It expects revenue to grow an average of 20% annually from 2017 because it is a leader in Thailand with 25% market share as well as numerous orders. It plans to take part in bids for public projects. (Thun Hoon, 11/10/16)
BJCHI
BJCHI plans to take part in Bt8bn bids, and expects this to expand its backlog from Bt3.1bn, enough to cover revenue until next year. It expects transfers to grow 2016 revenue 15% from last year brought by transfers. (Thun Hoon, 11/10/16)
Comment: I’ve been learning more about this industry and BJCHI whilst decent on relative valuations, does have a competitive disadvantage given that their yard is quite the distance from the ports when compared to STPI and BTW
CCN
CCN and its partner plans to take part in Bt200mn bids. It expects 2016 revenue to grow 20% from last year’s Bt205mn. Its public projects on hand comprises 30%. It expects 2H16 earnings to be good on the back of many telecommunication projects. (Thun Hoon, 11/10/16)
DELTA
DELTA expects 2H16 performance to be good after it expanded its market to EV cars. It expects 2016 revenue to grow 10%. (Khao Hoon, 11/10/16)
GFPT
GFPT expects 3Q16 earnings to be good on seasonality. It expects 2016 revenue to grow 4-5%. Behind this is exports, lower raw material cost and better performance of GFN-Mckey. It plans to export to Korea next year. (Khao Hoon, 11/10/16)
Comment: Been a straightforward story, think its quite priced in at the moment and would prefer to wait for when chicken prices fall again in the future before considering this name. Still the best chicken player in Thailand regardless. 

 
GOLD
GOLD expects 3Q16 revenue to grow substantially. Its nine-month presales reach Bt8bn with Bt11bn of sales. It expects 2016 revenue to be above Bt9bn with presales of Bt14bn brought by good location projects. (Khao Hoon, 11/10/16)
ILINK
ILINK has been awarded construction of 115-22KV switching station at Industrial Estate North 2-3 and Power station Lampang 3 project, valued at Bt563mn. It expects to sign the contract with PEA on Nov 1, 2016. It plans to take part in Bt3.8bn bids (to set up underwater cable at Koh Samui – Koh Tao) in October. (Khao Hoon, 11/10/16)
ORI
ORI plans to launch 9 projects this year, revised up from eight projects because of good response. (Thun Hoon, 11/10/16)
Comment: Is this a sign that there is still demand in the bangkok condo market? 
 
SANKO
SANKO expects to get Bt100mn in projects in Europe, expects exports to comprise 4-5%. It is budgeting Bt50mn to invest in equipment. It targets 2017 revenue to grow 10% while it expects 2016 revenue to be close to last year. It is studying investing in new business for diversification. It plans to take over one related business, with clarification at the beginning of 2017. (Thun Hoon, 11/10/16)
SPA
SPA expects 3Q16 earnings to mark a record high on good signs. (Thun Hoon, 11/10/16)
STPI
STPI expects 3Q16 net profit to be higher than Bt572mn. It expects to get a Bt2bn projects. It expects to benefit from approving Pacific Northwest LNG in Canada, expects to get Bt20bn project. (Khao Hoon, 11/10/16)
Comment: See BJCHI
 
THANA
THANA expects presales and sales to grow 20% as targeted this year after presales reached Bt600mn in the first nine months of the year. It expects Bt170mn backlog to be booked in 4Q16. It plans to launch a Bt350mn twin house and TH. (Khao Hoon, 11/10/16)
TICON
TICON, a developer of ready-made factories and warehouses, has initiated the process of selling 735 million shares to Frasers Property Holdings Thailand Co, a subsidiary of Singaporelisted Frasers Centrepoint Ltd. (Bangkok Post, 11/10/16)
Comment: What else is up for sale for this magnet? Is anyone else worried that Thailand will become more of a conglomerate run country versus the SME driven one that we’ve seen since the financial crisis
TPOLY
TPOLY got a Bt273.4mn project which raises its backlog from Bt4.5bn. It expects 2016 revenue to grow not less than 10% driven by its subsidiary. (Thun Hoon, 11/10/16)
Comment: Cheap on its holding value in TPCH but worries persist re it’s own ability to make a profit
TRUE
TRUE expects to show net loss of Bt1.3bn in 3Q16 because of amortization on 900MHz license and cost of English Premier League. (Khao Hoon, 11/10/16)
VTE
VTE expects to get 2-3 power plant construction projects in the Philippines. It expects this to increase its revenue by 4X. Its backlog is Bt600mn, of which 30% is expected to be booked early. It expects to complete the BEC deal this year. Export-Import Bank of Thailand (EXIM Thailand) recently provided $54.45 million (Bt1.9 billion) in financial support to VTE for a 220 MW solar farm project in Myanmar. (Thun Hoon, 11/10/16)
WHA
WHA plans to set up HREIT, valued at Bt8bn. It expects to get funds of Bt6bn, which it will use for debt repayment. This will lower its D/E ratio to 1.89X. It plans for its market cap to reach Bt100bn in five years. It is budgeting US$1bn to set up an IE in Vietnam. (Khao Hoon, 11/10/16)
Comment: They’ve proven to be geniuses at financial market wizardy, would you bet against them going forward?

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.