AP: report 7mth presales at Bt 24b account for 57% of Bt 41b full year target, target new launch 17 projects (8 SDH, 9 townhome) worth Bt 26.8b for remaining 5 months, Bt 15.52b out of Bt 54.89b backlog to realize this year, maintaining Bt 35.9b FY19 revenue target.
Comment: That’s impressive.
ERW: to open 6 hotels in Oct (4 Hop Inn, 1 Mercure & 1 Ibis), Ibis Sathorn to re-open full scale after renovation in December, expects meaningful turnaround 2H from low base, eyes 7-10% full year revenue growth target.
Comment: I’ve always used to say that you buy ERW during a tourism crisis and sell it in the recovery. Before that would be buy ~3-4 baht sell 5 and up. And this generally worked from 2004-2014. Now I don’t know if we’ll see ERW return back down to 3-4’s given the simple fact that they’ve grown.
ILINK: to submit bid for 2 submarine cable projects worth Bt 1.76b on Aug 27, Bt 500m out of Bt 2.4b backlog to realize in 2H, eyes Bt 1.03b revenue target.
ITEL: wins fiber optic projects for Provincial Electricity Authority (PEA) worth Bt 127m.
JWD: anticipates solid 3Q from strong OCC (95%) of new cold storage in Mahachai opened in July, refrigerated warehouse in Bangna to cod in November, sees upside from logistic management services for Burger King Malaysia on plans to add 85 branches in 2H from current 55 outlets, firms on 20% revenue growth target.
Comment: I think that logistics is the only way to go in Thailand atm
SUPEREIF: Super Energy Power Plant Infrastructure Fund debut IPO 515m units at Bt 10 apiece.
Comment: An impressive debut, the chase for yield continues.