ANAN had transfers of Bt3.84bn (+72%) and sales of Bt6.685bn (+51%). It maintains its 2018 transfer target of Bt38bn (+152%). It has Bt53.6bn of backlog. (Thun Hoon, 11/5/18)
Comment: But the hangover of Ashton Asoke is going to cap upside regardless of how well the company is performing
CHEWA had net profit of Bt57mn (+281%) and revenue of Bt571mn (+428%) in 1Q18. It has Bt1.4bn of backlog and is confident it will achieve revenue of Bt2.4 (+20%) this year. It is launching seven new projects worth Bt5.915bn. (Khao Hoon, 11/5/18)
Comment: A smaller listed property developer, straightforward to understand.
COM7 reconfirmed its revenue growth target of 15% and plans to invest Bt200mn into branch expansion and events for 2018. It targets increasing the number of branches to 600, of which 100 will be franchises. It plans to set up 12 big events and 10 small events both in Bangkok and upcountry. It will penetrate into the online market and launch a new system in June. (Thun Hoon, 11/5/18)
Comment: The move with KBANK is interesting, it does reduce the fixed opex the firm has
CPN increased its holding in DTC to 22.93%, paying Bt2.14bn, becoming the second largest shareholder in DTC. (Thun Hoon, 11/5/18)
Comment: Increased? No they bought the stake from MBK and another shareholder
EASTW expects synergy from a partnership with Manila Water. It is going to sign a contract to sell water with two large clients, which will add sales of 23 mn cum. (Thun Hoon, 11/5/18)
IVL made a new high net profit of Bt5.81bn (+31%) for 1Q18, from existing business, structural change in the industry, and an acquisition. The company targets net profit to grow 45% by 2019. (Thun Hoon, 11/5/18)
Comment: Just astounding numbers from this company
MODERN plans to expand its business into non-furniture lines. It targets sales to increase 10-15% this year. (Thun Hoon, 11/5/18)
Comment: Always thought that there was a play in the hospital furniture it produces, though proven wrong.
MTC expects its loans to grow 40% to Bt50bn and targets to increase branches to 3,000 this year. It plans to issue debentures worth Bt2bn this year. It sees no impact from the Non-Bank Act and IFRS9. (Thun Hoon, 11/5/18)
Comment: And he’s doing it, its still growing!
PSH plans to launch 20 new projects worth Bt14.8bn in 2Q18 and expects an increase in backlog from currently Bt31.3bn. It plans to invest Bt16bn in land acquisition. (Thun Hoon, 11/5/18)
Comment: A property developer that has been overlooked since it became a holding company
PTG had 1Q18 net profit of Bt269mn (+49%), mainly from a 15% rise in oil sales. The company expects its sales to grow 20-25% this year. It plans to invest Bt4-5bn into business expansion this year. (Khao Hoon, 11/5/18)
Comment: Great numbers during to a poor 1Q17, thus a low base effect, but still QoQ was double digit growth.
PTTGC revised its 2018 sales target upward to Bt500bn from Bt480bn as a result of rising oil prices and a weakening of the baht. The company expects 2Q19 earnings to continue good due to rising spread with a potential stock gain and expects refinery margin to be around US$6/barrel. It expects to finalize investment in a petrochemical complex in the US within this year. (Thun Hoon, 11/5/18)
THCOM saw a 620% rise in 1Q18 net profit to Bt1.864bn as a result of gain from the sale of CSL shares to ADVANC. It had revenue of Bt3.497bn (+62.2%). (Khao Hoon, 11/5/18)
TK may revise its loan growth and revenue target for 2018 upward after the good 1Q18 results. It has no concern about the adoption of IFRS9, reconfirming that it has sufficient loan loss reserve. It is in the process of applying for a micro finance license in Myanmar. (Thun Hoon, 11/5/18)