ANAN says 1Q15 will be good, backed by large backlog. It will spend Bt4bn for land acquisition and double new launches to Bt31.5bn. It plans to grow backlog to grow revenue over the next five years. It believes the property and building tax will raise developers’ cost. (Thun Hoon, 23 Mar 15)
Comment: And this property company continues to grow quietly without the industry really noticing. The biggest question I’ve noted about this firm is that it has yet to fully prove that it can transfer all units from its successfully sold out projects.

BKI and TIP will benefit from the Bt3trn infrastructure projects, particularly Green Line worth Bt8bn which is expected to open for bidding in 2Q15. (Than Sethakij, 23/3/15)

BSM targets revenue growth of 20% this year. It expects earnings to remain sluggish in 1Q15 and recover in 2Q15. (Kao Hoon, 23/3/15)
BSM will set up a joint venture in Myanmar and expects to win a contract worth Bt100mn. It targets revenue to reach Bt1bn in the next three years. It will expand its customer base, both domestic and overseas. It says that 1Q15 revenue will be similar to 1Q14. Its full year revenue will reach Bt600mn and net profit will grow more than 20%. (Thun Hoon, 23/3/15)
Comment: I’ve always liked BSM’s business model and management, never liked it’s stock price.

CBG says 1Q15 good despite weak economy. It expects revenue will grow by 20% this year. It will expand its customer base and widen distribution. It aims to be number one in terms of market share in the next five years. It has Bt1bn cash, enough for business expansion. (Thun Hoon, 23/3/15)

CYBER invested Bt340mn to acquire Andaman Power and Utility with a 20 MW power plant, expecting to start generating revenue in this April. (Kao Hoon, 23/3/15)

DRT not concerned about weaker building materials prices. Its production cost has also been reduced by lower fuel price plus it is getting strong orders during high season. It expects revenue to exceed Bt930mn in 1Q15. It will continue to expand modern trade and targets revenue growth of 25%. (Thun Hoon, 23/3/15)

FORTH expects revenue to reach Bt4.8bn, planning to add 20,000 cash top-up machines. (Kao Hoon, 23/3/15)
Comment: FSMART is the driver of value in FORTH.

GUNKUL adds new items to agenda for the annual general shareholder meeting on Apr 10, i.e. the new equity investment in Korat Wind Energy of Bt4.6bn, development of a wind power plant for Bt6.1bn and a solar farm in Japan. (Khao Hoon, 23/03/15)
Comment: AGM’s are the best way for retail investors to really have a sit down, listen to management and actually ask questions.

IFEC will focus on renewable energy. It expects net profit will grow by 630% YoY this year. It currently has power capacity of 20.5MW and will raise this to 837MW by 2017. As such, its revenue and profit will grow at a CAGR of 122% and 150% respectively. (Thun Hoon, 23/03/15)
Comment: As a friend says IFEC is the dog’s bollocks, they don’t have the ability to access 837 MW!

JSP expects to achieve revenue of Bt4bn this year underpinned by Bt7.2bn backlog of which Bt4bn will be booked this year. It plans to open a new project worth Bt4bn in 4Q15. (Kao Hoon, 23/3/15)

PCA awarded Bt100mn project to install a land network for the satellite system of Aeronautical Radio of Thailand. The company expects its revenue to increase 20% this year. (Kao Hoon, 23/3/15)

PT expects record-high net profit with revenue growth of 10-15% after the 4G bidding in August, with the digital economy supporting its data center. (Thun Hoon, 23/03/15)

RWI gets railway tie project worth Bt1.6bn, and expects its revenue to grow 10-15% this year. It is ready to penetrate into the AEC market. (Than Sethakij, 23/3/15)

SENA is confident that its 1Q15 result will be good after it speeded up the transfer of Bt1.5bn backlog and expects to achieve Bt3bn in presales this year. (Thun Hoon, 23/03/15)

SPCG accelerating rooftop solar for household in partnership with HMPRO to sell the equipment and installation service via 72 branches nationwide. The company is urging household customers to ask for permits from MEA and PEA before the offer closes on 30 June. (Khao Hoon, 23/03/15)
Comment: In a perfect world, you could see SPCG garnering another 200MW when the licenses are going to be reoffered by the government

SYNTEC expects little change in 1Q15 profit from 4Q14, in which it reported revenue of Bt1.9bn and net profit of Bt397mn, thanks to its backlog of Bt10.5bn. It expects to win 30-40% of its bids for 18 projects worth Bt15bn. (Thun Hoon, 23 Mar 15)
Comment: SYNTEC has been traded as if it were going to win infrastructure projects whilst in reality they are focused far more on the condominium portion of the industry.

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