Stocks in the news (ap, bem, big, gpsc, hmpro, port, tk, uniq, vgi, wha) 04.04.18
AP
AP posted 1Q18 presales growth of +168%, reaching Bt10bn or 30% of its presales target of Bt33.5bn. It plans to open 34 new projects worth Bt49bn. It aims to be in the top 3 in Thailand’s property sector. (Thun Hoon, 4/4/18)
BEM
BEM says that auction documents for motorway projects Bangpa-in-Korat and BangyaiKarnchanaburi will be sold this month. The documents for the South Purple Line will be sold this year. It will be ready to open the Blue Line extension in 2019. (Thun Hoon, 4/4/18)
Comment: Let’s see if this marvelous government decides to postpone anything related to these big infra plays
BIG
BIG is going for the mirrorless market with new campaigns and new products to stimulate sales. It hopes to see margin growth of 8%. (Thun Hoon, 4/4/18)
Comment: The main positive for BIG is that the supplier’s take the hit on the campaigns and not the company.
GPSC
GPSC to propose a project to supply electricity to PTTGC’s 3 new project worth 200-300MW. This will be clear in 2Q18. (Khao Hoon, 4/4/18)
HMPRO
HMPRO says 1Q18 sales will be impressive, driven by economic and purchasing power recovery. It targets 2018 revenue growth of 5% with same-store sales growth of 3-4%. It plans to invest Bt6-6.5bn to add new stores and renovate current ones. (Thun Hoon, 4/4/18)
Comment: It’s the Malaysia expansion story that is more interesting at the moment
PORT
PORT got a new customer, Ocean Network Express, which will open for service in April 2018. (Thun Hoon, 4/4/18)
TK
TK targets loan growth of 10% to reach Bt10bn. It says it will be able to keep NPLs below 4%. It targets investing Bt60mn to expand branches abroad. It also plans to issue bonds of no more than Bt1bn. (Thun Hoon, 4/4/18)
UNIQ
UNIQ has a new high backlog of Bt41bn. It expects to get new projects after joining auctions worth Bt300bn. It is certain that its revenue this year will reach Bt14bn with net margin higher than 6%. It plans to invest Bt500mn to invest in new equipment. (Thun Hoon, 4/4/18)
Comment: And yet it’s stock price has somehow decreased by ~20% or so
VGI
VGI announces plan to expand its media business to Malaysia, via buying 25.1% of Meru Utama Sdn. Bhd, which is a media provider in major and minor airports. (Thun Hoon, 4/4/18)
WHA
WHA says there are investors in the EU and China interested in EEC land, and believes this will lift 2018 to a new high. It is certain that its land sales this year will be as expected. (Thun Hoon, 4/4/18)
Comment: Interested vs buying are two different things.
Peter
@ UNIQ: most of the major construction companies’ stocks have suffered big declines during the last few months and except in the cases of STEC (big 4Q17 loss) and ITD not really understandable, I’d say…
Xavi
I think a combination of poor sentiment over immigration crackdown. Rising minimum wages and steel prices coupled by the more stringent e-auction rules causing bidding delays.
Pon
Plus the bulge bracket brokerages downgraded the construction sector in 4Q17 citing delays in new projects.