AQ reported 1Q15 earnings of Bt37.3mn (+378% YoY) from 1Q14’s Bt7.8mn. Management says performance will turn around this year. It will launch nine projects: single house, townhouse, and condominiums, with total value of over Bt8bn. It expects sales of Bt2.5bn. (Thun Hoon, 19/05/15)
Comment: AQ’s stock price has already valued in all of its potential earnings and revenues.
BSM to introduce new product expected to add 20% to revenue. It expects its business to continue to grow in the second half of the year. 3Q15 earnings may hit a record high due to government projects. BSM plans to expand its international market to 25%. (Thun Hoon, 19/05/15)
1Q15 earnings surged 40% with revenue growing 20%, benefitting from increasing international sales and decreasing interest expense. 2Q15 earnings are expect to also rise. It plans to invest Bt600mn to increase capacity and DC. (Thun Hoon, 19/05/15)
Comment: It’s been on a cost cutting basis that CBG has been able to grow this strongly.
CPF announced 1Q15 profit of Bt2.96bn (44% growth). It plans to increase investment in Cambodia after its shareholders approved a raise in stake from 25% to 100%. The deal is expected to finalize in 2Q15. (Khao Hoon, 19/05/15)
Comment: Quite interesting to see that THB 2 bn of profits came from trading CPALL and TRUE and another THB 1 bn came from sales of land, thus in reality they lost THB 1 bn
CWT plans to JV with ZW-Lawi to invest in a 40MW waste power plant, worth Bt8bn. It expects to sign a contract with the municipal government for a refuse disposal project in July 2015. (ASTV, 19/5/15)
1Q15 earnings jumped 26% to Bt580mn after the February startup of the power plant at Lampang. Power plan revenue has reached 90%. Management says 2Q15 profit will continue to grow with 2015 revenue expected to show 30% growth. (Thun Hoon, 19/05/15)
EASON expects better 2Q15 revenue from 2Q14’s Bt128.42mn aided by demand growth. 2015 revenue is expected to grow 5% on market expansion. It plans to invest in a new plant in Indonesia. (Thun Hoon, 19/05/15)
A new job worth Bt500mn expected to be finalized in 2Q15. The company is ready to bid for new projects. It targets Bt5bn in revenue this year (20% growth). FORTH plans to expand “BoonTerm” machines to 60,000 machines within this year. (Khao Hoon, 19/05/15)
Comment: As I’ve said for years, the value in FORTH is really in its associate company FSMART.
1Q15 profit was Bt37.17mn (+1.28% YoY). FPI plans to expand capacity in 2Q15. It is confident revenue will reach Bt2.1bn (15-20% growth) as targeted. It plans to open branches in five countries in five years. (Thun Hoon, 19/05/15)
The CEO says GL set its subsidiary, GL Leasing (Lao) Co., Ltd. (GLL) in order to do business in Laos and it expects to reach break-even point in 6-7 months. (Khao Hoon, 19/05/15)
Comment: If you want exposure to Thailand, Cambodia, and Laos for motorcycle leasing then this company is your best bet, but valuations are a bit rich.
2Q15 earnings grew 20-30% backed by rising telecom business generating 200% revenue growth while its engineering business generates Bt250mn in revenue. ILINK is preparing to bid projects worth Bt5bn that will rise its net profit to Bt280mn and Bt3bn as target. (Khao Hoon, 19/05/15)
Foreign investors interested in KAMART stock. 2015 revenue is expected to beat a record high (50% growth). It plans to invest Bt150mn into advertising and to introduce at least 10-15 new products every quarter. It will expand abroad. (Thun Hoon, 19/05/15)
Comment: I always find it amusing whenever the news reports that foreign investors are interested in a stock, as if it would really make that much of a difference to these smaller names.
It plans to expand to eastern Thailand in order to increase revenue proportion from outside Bangkok metropolis to 25-30%. It will introduce 8-10 projects worth Bt4bn. The company is confident revenue will grow 12% to Bt2.65bn this year. (Thun Hoon, 19/05/15)
4Q15 revenue will be good although PACE showed loss in 1Q15, because it recognized revenue from “Mahanakorn Project”. Backlog is Bt13.5bn (Thun Hoon, 19/05/15)
PLANB targets 40% growth in 2015 revenue after signing a contract for advertising. It is confident earnings will continue to trend up this year while 1Q15 earnings grew 53% to Bt54mn. (Khao Hoon, 19/05/15)
MD says 2Q15 will be better than 2Q14 without last year’s political problems that cut in rental revenue and revenue from hotel business. (Khao Hoon, 19/05/15)
Comment: If you believe in the long term story and development plans of PLAT then yes the stock could be worth THB 10, but that would be in 6 years from now.
2H earnings will be better than last year’s Bt600mn backed by condominium S9. It targets revenue of Bt1.8bn this year, supported by the boom in the property sector. SAMCO will open two projects worth Bt2bn that will increase its backlog from Bt950mn. (Thun Hoon, 19/05/15)
SIAM introduces new product, “portable toilet” for clients in condominium business. The company plans to expand to the hotel business. It plans a JV with a Japanese firm to produce civil engineering products. It expects to sign the MoU this month. (Thun Hoon, 19/05/15)
SIRI to JV with BTS, setting up subsidiary to develop residential projects within 500m from BTS stations. It will launch “The LINE Jatujak-MoChit” project worth Bt5bn in 2Q15. (Khao Hoon, 19/05/15)
It will sell 100,000 sqm of rental warehouse space to an REIT in 2Q15. WHA plans to set up a subsidiary to work in the public utilities and energy business. It expects revenue of Bt26bn this year. (Khao Hoon, 19/05/15)