AOT will complete ToR for duty-free space in December 2018 – January 2019. The TOR includes renovation of Suwannabhumi, Phuket, Hatyai and Chiangmai airports. The Cabinet is preparing to launch tourism promotion measures including visa fee exemption and “Passport privilege”. Private entities are also planning to offer discount prices. (Thun Hoon, 6/11/18)
Comment: This will be interesting.
BIG subsidiary, BIG Camera Holding, joins with Vietnamese company to set up Big Digiworld, a joint venture company, with 50% holding. Big Digiworld targets the retail camera market in Vietnam. It plans to open the first BIG camera store in Ho Chi Minh. BIG reported 3Q18 earnings of Bt94mn, – 27.90%YoY. (Kao Hoon, 6/11/18)
Comment: Not the craziest idea. Vietnam consumer spending is going through the same boom that Thailand experienced from 2005-2013
CHO’s board approved the setup of Amorn Rattanakosin or AKR with 99.97% holding. ARK provides “genius” bus management service, SMART BUS. It expects to spend Bt100mn to set up AKR. It expects revenue growth of 15% this year. (Kao Hoon, 6/11/18)
Comment: There’s interesting things going on, as long as the government and special interests get out of the way.
D shareholders approved issue of 20mn shares for private placement. The proceeds will be used to set up a dental hospital and other investment projects. Management expects the new dental hospital to boost revenue and earnings next year. (Thun Hoon, 6/11/18)
GFPT has set up an investment budget of Bt4-5bn for the next four to five years. It plans to add slaughter capacity to 450k chickens/day. It also plans to increase exports to China with revenue contribution of more than 10% next year. Negative elements began to be resolved in 3Q18 and it expects 2H18 to be better HoH. (Thun Hoon, 6/11/18)
GPSC reported 3Q18 earnings of Bt899mn. 9M18 earnings were Bt2.87bn, +17%YoY, driven by revenue from the second phase of IRPC-CP and ISP1 power plantS. It has three power plants which will start commercial operation next year. (Kao Hoon, 6/11/18)
NUSA’s board approved THE resale of 1.27mn shares of WEH (Wind Energy) to DD Mart Holding with total value of Bt886.34mn after it was unable list WEH within three years. Payment will be made by July 15, 2019. (Kao Hoon, 6/11/18)
Comment: This was interesting. So one could speculate that if a major shareholder of WEH was willing to buy back shares at this value/share. That there should be a liquidity event coming for them soon?
SENA is preparing to launch a condominium Niche MONO Mega Space Bangna valued at Bt2.2bn on November 17. (Kao Hoon, 6/11/18)
SMART reported 3Q18 revenue of Bt92.08mn, +16.23%YoY. 3Q18 loss decreased by 86.93%YoY. It expects earnings to turn around in 4Q18. It expects demand for lightweight concrete blocks to increase, driven by government construction projects and private investment in EEC. (Thun Hoon, 6/11/18)
TU reported 3Q18 core profit of Bt1.73bn, the highest in three years. Operating profit increased by 33%YoY, driven by a decline in tuna cost and efficient cost control. Operating profit margin was 15.71%. 9M18 sales were Bt97.314bn. (Thun Hoon, 6/11/18)
XO targets utilization rate of 70% from the current 50%. Management expects 2018 earnings growth of 10-15% as it is expanding markets both at home and abroad. It expects margin to widen after fixing material costs. (Thun Hoon, 6/11/18)
Comment: Somehow they are performing quite well. I first began noticing their products on the shelves in Bangkok a few years ago but it appears that the international push is what is driving their sales.