AOT says it will build a second terminal at Suvarnabhumi airport although the Office of the National Economics and Social Development Council (NESDB) has not yet given its okay. It says the terminal is needed to accommodate excessive passengers. The proposal will be submitted to the board for approval again on Feb 20 before sent to the NESDB. it is confident that the prepared information will be able to answer every doubt. (Kao Hoon, 30/1/19)

Comment: Well it is required given the constant increase in traffic.


BTS will bid for the Orange Line. The bid applications will be sold in March-April. It will bid for the construction of the Bangna-Suvarnabhumi light rail as well. It expects revenue and earnings growth to average 30%/year through the next five years. It expects passengers to reach 1.5-2mn per day in 2021. (Thun Hoon, 30/1/19)


CPN targets revenue growth of 12% this year supported by increase in rental area and growth in the real estate industry. It plans to open two department stores this year. It is joining with Right Man to set up the Triphum theme park in Phuket, hoping it will attract tourists. (Thun Hoon, 30/1/19)

Comment: Despite CPN not admitting it, tourism is a massive for them, I would presume its now close to ~30% of their business and for them to be expanding into tourism related industries makes sense.


ILINK is bidding for Koh Samui submarine cable project valued at Bt2.13bn after the cabinet approved the plan by the PEA. It has already bid for projects with total value of Bt4-5bn and expects to receive Bt2bn. It targets revenue growth of 30% to Bt5bn this year with current backlog of Bt2.7bn. Around Bt1bn of backlog will be booked as revenue this year. (Thun Hoon, 30/1/19)

Comment: And perhaps all of the issues that caused ilink problems have now been resolved. AOT is in the past, the submarine cable project is back on the cards. Time for the IT sector to move again?


Thai government will kick off Thai E-VISA on Feb 15. SAMART will benefit from this as it is the system integrator. Management says it will receive Bt525/person/time and expects to receive service charge of Bt1bn from Chinese tourists. It expects to receive Bt500-600mn in revenue from this service this year lifting performance substantially. (Thun Hoon, 30/1/19)

Comment: This is part of the group’s move to try and have more recurring businesses.


SSP will start commercial operation of a 16MW solar farm in Mongolia. It expects earnings to be outstanding in 1Q19 as its electricity production capacity will increase by 90MW. This year, it will start commercial operations of two power plants with total electricity capacity of 65MW. It expects earnings growth of 25% this year. (Thun Hoon, 30/1/19)

Comment: A thai firm with a solar farm in Mongolia


THAI said that it will complete the write-off of eight airplanes in 1Q19 and the Bt4bn proceeds will be booked as revenue immediately. There will be no impairment loss in 1Q19. As for the purchase of 38 airplanes, the Office of Transport and Traffic Policy and Planning agreed to the plan and sent the deal to the Transport Ministry for approval. (Kao Hoon, 30/1/19)


State Enterprise Policy Office (SEPO) will submit the proposed TMB-TBANK acquisition to the Finance Minister for approval next week. It said the government must benefit from the deal. TBANK is afraid that the deal may be canceled after the change in government. Management has told employees to not panic. (Kao Hoon, 30/1/19)

Comment: I still have doubts on this happening despite the rather obvious attempts by a few parties to push it through.

  1. Still the question with Samart is how do they stop the hemmorhaging from The mobile business? I have just increased my position in Samtel recently at 7 baht as i think we are seeing signs of recovery in the IT sector and AiT and Samtel are well posiiotned to reap the benefits here.

    Would like to add more names but dont want to over balance into such a volatile sector.

    On another note, look at the bounce from DDD, up some 65% from the bottom, trading similair to Beauty and would expect the price to settle down into the high teens when the euphoria ends.

    • They got rid of the mobile business last year. Issue for SAMTEL is that some of the potential future biz that typically goes to SAMTEL is being routed to SDC.

      DDD going to BBB status *hahaha* ok i’m done.

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