AOT reported 1QFY17 profit of Bt5.1bn or growth of 10%, supported by 6.11% passenger growth to 30.6mn passengers and an increase in flights of 6.94% to 204,000 flights. (Kao Hoon, 15/02/17)
Comment: So stock split is done & then its gone ahead and declined on fears of slowing passenger growth and capex of THB 200 bn coming. Or you could think, cashflow isn’t a problem, king power will have to finally pay a far higher market rate (or someone else will) soon, and the # of chinese travelers coming to thailand is only going to double over the coming 5 years.
The cabinet has given BEM the nod to operate the missing link (Tao Poon-Bang Sue) on the Blue Line rail route, worth Bt918mn. It expects this will increase ridership by 15,000/day/trip. (Thun Hoon, 15/02/17)
BIZ expects to sign contracts for 2-3 government projects in 2Q17, raising its backlog to Bt160mn. It expects 2H17 performance to be good as it plans to launch new products. It expects to get projects in Myanmar in 2Q17. It expects to get Bt100mn in service projects. (Thun Hoon, 15/02/17)
CWT said its 4.9959MW solar farm has contributed revenue since Jan 9 after starting operations in Dec. Management confirms that the company has no B/Es outstanding. (Thun Hoon, 15/02/17)
EPG reported 9MFY17 profit of Bt1.11bn with growth in every business (Aeroflex, Aeroklas, and EPP). It plans to launch a new brand, EICI, to engage in business in overseas, including AEC. (Thun Hoon, 15/02/17)
FPI is working with ECF in a venture named SAFE to invest in biomass power plants. It signed a purchase agreement for a 7.5MW power plant in Narathiwat. It expects this to start operations in 2Q17 and operate for 20 years. It is studying investing in other projects before listing SAFE. (Thun Hoon, 15/02/17)
GFPT expects 1Q17 sales to be strong backed by higher domestic demand from Chinese New Year. It expects 2017 revenue to grow 8-10% to reach Bt19bn. It expects to expand its export market in order to maintain export revenue portion at 20%. (Thun Hoon, 15/02/17)
Comment: Here the only question is chicken price. That’s it.
GL is budgeting Bt3bn to do acquisitions to increase its overseas portfolio. It plans to expand to 13 countries in Africa and East Europe. It expects 2017 performance to be good. (Thun Hoon, 15/02/17)
Comment: Its only trading at 100x trailing earnings and a potential 50x on 2017 earnings, but if you believe you believe.
PHOL launched a three-year plan with revenue target of Bt2bn or growth of 25% CAGR. It will bid for 3,000 projects for tap water for community units. It expects to get 100 projects per year worth Bt4mn/project. It expects revenue portion from the water business to reach 55%. (Kao Hoon, 15/02/17)
Comment: If that’s the case, thats 400 mn baht in revenue, minimal management costs and a double of revenue over the next 3 years. Could be something here..
PTTGC reported 2016 profit of Bt25.6bn or growth of 25%, supported by stock gain and the petrochemical business. (Kao Hoon, 15/02/17)
SELIC expects exports to comprise 30% this year and targets 50% soon after it begins to supply products in CLMV. It sees high potential in Vietnam and Myanmar. It expects double digit growth this year brought by good economic outlook. (Thun Hoon, 15/02/17)
SIRI plans to launch eight condos worth Bt22bn under the “PropTech” concept. It plans to broaden its customer base, especially for clients from Japan and Dubai. It targets condo presales of Bt21bn this year. (Thun Hoon, 15/02/17)
SNC expects robust earnings this year on the back of a positive industry outlook. It is studying an investment in a waste power plant at a cost of Bt240mn. (Thun Hoon, 15/02/17)
TOP is budgeting Bt5-6bn to invest in infrastructure and increase lorry loading. It plans to expand refinery production to 400,000 barrels/day. It also plans to increase LAB capacity to 120% this year. It expects high demand to expand its domestic market. It expects to book extra gain in 2016-2017. (Thun Hoon, 15/02/17)
TWPC is budgeting Bt70mn to invest in a new plant in Vietnam. It plans to do business line extension and targets leading the market in CLMV. (Thun Hoon, 15/02/17)
Comment: A branded commodity player, or a food company or a combination of both?
WIIK reports that subsidiary (WW) obtained the design, construction, and installation of clean water system work at Wellgrow IE, worth Bt40bn. It is negotiating with more clients for tap water supply, expects a decision soon. (Thun Hoon, 15/02/17)