ANAN reported strong profit growth of 60% YoY in 2014 to Bt1.3bn. The company will pay a cash dividend of Bt0.068/share, XD on Apr 21. ANAN expects revenue to reach Bt11bn on backlog of Bt27bn. Twelve more projects will be launched with total project value of Bt32bn. (Kao Hoon, 27/02/15)
Comment: And yet still an undercovered/undervalued name by most research houses in Thailand
BCP to invest in 60MW solar farm in Japan. Finalization could be in the next two months. The solar farm is expected to start generating revenue within 12-15 months. The project still requires approval by central and local governments. The company reaffirms the target EBITDA for 2015 at Bt10.4bn. (Kao Hoon, 27/02/15)
Comment: BCP has come up publicly stating that they will only focus on going for large investment projects from now on.
CPN maintained target for revenue growth of 12-13% in 2015 after seeing improvement in purchasing power. The company will develop three new shopping malls in Rayong, Nonthaburi and Bangkok and will raise rents, depending on location. (Kao Hoon, 27/02/15)
EPCO’s 2014 profit surged 69.78% YoY to Bt221mn, driven by more profit from power generating (+Bt88.96mn) and printing (+Bt2.17mn). The company announced a cash dividend of Bt0.18/share with XD on Apr 27. (Kao Hoon, 27/02/15)
ICHI reported 2014 profit of Bt1.2bn, up 36% YoY. With provision for impairment of “Baile” trademark amounting to Bt121.5mn, profit for 2014 was Bt1.079bn, up 22% YoY on revenue of Bt6.209bn. The company announced a final dividend of Bt0.5/share with the XD on May 7. The company will continue to expand both domestically and internationally to achieve revenue of Bt7.5bn in 2015. (Kao Hoon, 27/02/15)
Comment: A fantastic return posted by ICHI, at least the silly noise around its potential to expand and dominate indonesia has died down.
PLANB reported net profit growth of 24% YoY in 2014 to Bt206mn. Revenue rose 6.2% YoY to Bt1.47bn. The company plans to launch seven new advertising projects in 2015 which is expected to generate Bt262mn more revenue. (Kao Hoon, 27/02/15)
Comment: Don’t be surprised to see their numbers perform poorly in 1Q15 when they book all the listing fees.
Bid results soon — PPS expects the results of the bid for project construction management service worth Bt1bn for Green Line extension to be announced soon. The project will be split into five parts, Bt200mn each, distributed to its consortium. The company has capacity to take on more projects, i.e. the Pink and Orange lines. Management expects revenue to rise 10% YoY in 2015 to Bt300mn, driven by new orders and new customers. (Kao Hoon, 27/02/15)
No impact from delay of concession bids — Management of PTTEP is confident that the delay in the 21st round of petroleum concession bids will not impact it. The company expects that inclusion in the DJSI will boost institutional investor interest in the company. (Kao Hoon, 27/02/15)
RATCH to continue to expand its installed capacity by 552MW to 6,117MW by the end of 2015. The company expects Bt600mn in added profit from new power plants in 2015, including Bt200mn from an SPP and Bt400mn from Hongsa, with revenue of more than Bt50bn. (Kao Hoon, 27/02/15)
SAWAD 4Q14 net profit jumps more than 100% with full-year net profit of Bt854mn. Its loan portfolio stood at more than Bt9.6bn at the end of 2014. The company announced a share dividend at the ratio of 50 existing shares to one new share, plus a free warrant at the ratio of 25 shares to one warrant. (Kao Hoon, 27/02/15)
Comment: I never liked seeing a share dividend, its a cop out way to repay shareholders and normally indicates that management realises that their shares are expensively, with SAWAD at 12x PBV wouldn’t you think the same?
2nd cement plant in Cambodia up and running in mid-2015 — SCC says that its second cement plant in Cambodia with capacity of 900ktpa will commence operations in mid-2015. Cement demand in Cambodia is expected to grow by 10% YoY. Another cement plant in Indonesia (1.8mtpa) will also start up in 2H15. (Kao Hoon, 27/02/15)
SPCG confident in new high for profit in 2015 from full-year operations of solar farms (36 sites or 260MW). The company expects revenue to reach Bt5bn in 2015 with more expansion in Thailand and overseas, including a solar farm project in Japan. (Kao Hoon, 27/02/15)
THAI’s performance in 2014 remained weak with a net loss of Bt15bn. Behind this was lower passengers due to political unrest in Thailand and asset impairment of Bt6.3bn caused by the retirement of 19 airplanes. (Kao Hoon, 27/02/15)
TOP expects 1Q15 profit to recover with utilization at 100% throughout the year. The company said with oil price above US$60/bbl it would be shielded from stock loss in 2015. TOP expects the average oil price for 2015 to be at US$53/bbl. (Kao Hoon, 27/02/15)
TRT expects revenue to rise 20-25% to Bt2.7bn. The company’s backlog is now at Bt1.5bn, about Bt1.3bn of which will be recognized in 2015. It expects to be awarded new projects worth Bt10bn, including Hongsa power plant (Bt1.4bn), Bt200mn of which will be recognized in 2015. (Khao Hoon, 27/02/15)
TUF could be investigated by the US Justice Department after acquiring Bumble Bee in the US, which raised its share of the US canned tuna market to 48%. This is to ensure the company does not breach the country’s anti-trust laws. (Post Today, 27/02/15)