Luxury condo presales at 70%. ANAN says Ashton Silom, its luxury condominium, has reached presales of 70% of a total value of Bt6.03bn. The target customers of this condominium are both Thais and foreigners enjoying an urban lifestyle. (Thun Hoon, 25/10/18)
Comment: And apparently this is part of their strategy, keep the remaining 30% to sell later at higher prices.
BCH expects 3Q18 results to be a record high supported by high season and many patients. Its World Medical Hospital turned around in 2Q18 and is operating at a profit now. (Kao Hoon, 25/10/18)
NBTC qualified DTAC subsidiary DTN for bidding for 900MHz. The auction is scheduled for October 28. The NBTC expects proceeds of around Bt40bn. (Kao Hoon, 25/10/18)
Comment: Hmmmm why would DTAC want to bid that much?
EA signed a contract with the Taiwan government to hold 70% in Amita Technologies Inc. This gives it full entry to battery manufacture. It targets to develop energy storage technology to support growth in worldwide electric car and electric industries. (Thun Hoon, 25/10/18)
Comment: Still doubt the potential of this investment…
KTB is strictly controlling NPLs. It expects NPLs to come down to below the current Bt100bn and it will thus set 4Q18 provisions similar to 3Q18. It expects loan growth of 6-7% this year. It has budgeted Bt12bn to invest in “Invisible Banking”. It says Krungthai NEXT application already has 1.5mn accounts. It targets 3mn accounts at the end of this year from its total accounts of 30mn. (Thun Hoon, 25/10/18)
Comment: A government bank saying that they’ll do a proper job? Hands up if you believe this.
OCEAN starts palm oil type A trading and revenue will be booked in 4Q18. Its faucet business will grow sales by 10-15% this year and it aims to sell its product via modern trade channels. (Thun Hoon, 25/10/18)
SCC reported 3Q18 earnings of Bt9.473bn, -20%YoY and 9M18 earnings of Bt34.281bn, -19%YoY. It expects sales to grow by 7% this year. It expects growth in the cement and raw material business in 4Q18. (Kao Hoon, 25/10/18)
Comment: Down, but the majority of it was due to a one time write off.
SONIC expects 3Q18 results to be good. It believes it is fundamentally sound with high quality customer service and this will support international freight volume by air and sea transport. It targets revenue of Bt1bn this year. (Thun Hoon, 25/10/18)
TIGER closed above its IPO price despite the market plunge. Its CEO says it has many construction projects down the road. Backlog is Bt600bn. It is bidding for many projects both private and government. It expects to be awarded new projects that will push earnings growth next year. (Kao Hoon, 25/10/18)
Comment: A Small IPO that didn’t have a big bounce? Uh oh…….
WHA expects 2018 revenue to exceed its target as 4-5 clients will buy around 2,000 rai of land. One deal is expected to be completed this year. It expects to expand warehouses for rent to 250,000 square metres. It will present its five-year plan to the board in November. (Thun Hoon, 25/10/18)