Stocks in the news (asap, bjc, epg, irpc, jsp, kce, ktc, lit, mtls, pf, planb, plat, pttgc, top, tsf, ureka) 16.02.17
ASAP
ASAP plans to offer an IPO of 210mn shares, with subscription in the third week of March and trading on the SET on Mar 30. It will use the funds to build “ASAP Auto Park”, a full-service automotive center at Bangna. (Kao Hoon, 16/02/17)
Comment: Love the ticker, no idea on the business yet, if anyone knows something add it to the comments
BJC
BJC expects the full year of revenue from BIGC will support 2017 profit growth. It plans to open four new store to bring up revenue. It expects the glass furnaces at Saraburi to start up this year and bring capacity to 3,100 tons per day. (Thun Hoon, 16/02/17)
Comment: BIGC came out with so-so numbers, -ve SSSG and FY net profit’s -7%
EPG
EPG reported 9MFY17 profit of Bt1.1bn supported by Aeroklas business. It packaging business (EPP) will launch a new brand “Eici” to the market in March. (Kao Hoon, 16/02/17)
IRPC
IRPC board approved a dividend of Bt0.23/share, XD on Feb 27. It reported 2016 net profit of Bt9.7bn or growth of 3.4%, but revenue decreased 21% due to lower selling price. (Kao Hoon, 16/02/17)
JSP
JSP is confident in 2017 revenue and sales growth of 20% with revenue reaching Bt5bn. It plans to open 17 new projects and will rebrand to attract a new customer group. (Kao Hoon, 16/02/17)
KCE
KCE reported 2016 profit of Bt3.03bn, or growth of 35.7% YoY, and sales of Bt13.7bn or growth of 10.8%, backed by more volume from higher utilization rate. (Thun Hoon, 16/02/17)
KTC
KTC plans to focus on high-end and “new gen” customers. It targets credit card spending growth of 15% and NPLs at 1.7%. It expects 2017 profit growth of no less than 10%. (Thun Hoon, 16/02/17)
Comment: I’ve been wrong on their ability to continually grow revenue in the past few years. So I wouldn’t bet against this management at the moment.
LIT
LIT reported 2016 profit of Bt100.66mn, rising 42.88%, backed by more customers from government investment. It expects to be the leader in full-service SME loans and targets revenue, loan and profit growth of more than 30% with NPLs not over 3%. (Kao Hoon, 16/02/17)
MTLS
MTLS says its Bt2.6bn debenture sold out with a good response from investors. It plans to focus on motorcycle loans. It targets a 2017 loan portfolio of Bt10bn (+50%). It expects revenue and net profit to continue to grow to record highs. (Thun Hoon, 16/02/17)
Comment: And they still have lower NPLs than the banks
PF
PF offered 700mn shares via PP at Bt1/share. It plans to use the funds for future construction projects and as working capital. (Kao Hoon, 16/02/17)
Comment: No surprise, I’m still expecting to see a lot more of this happening with the smaller companies
PLANB
PLANB targets 2017 revenue growth of not less than 20%. It has budgeted Bt315mn to expand its media in airports. It said Hello Bangkok got a good response as can be seen from higher ad area reservation. This pushed up its utilization rate to higher than 65%. (Thun Hoon, 16/02/17)
Comment: With VGI and MACO reporting average #’s, I’m not expecting anything great from PLANB
PLAT
PLAT posted 2016 net profit of Bt704mn, up 12%, on the back of 6% growth in rental revenue after it increased its rental rate for leasable area and hotel room rate. It plans to pay a dividend of Bt0.18/share, XD on May 3 and PD on May 23. (Kao Hoon, 16/02/17)
PTTGC
PTTGC expects 2017 revenue growth of 25% brought by higher selling price as oil prices go up. It is budgeting Bt26.3bn to buy shares in six petrochemical companies under PTT. It expects this to contribute earnings of Bt2.4bn/year. It expects GGC to be listed and traded this year. (Kao Hoon, 16/02/17)
TOP
TOP reported 2016 net profit of Bt21.22bn mainly driven by refinery business and stock gain. It plans to pay a dividend of Bt3/share (4% dividend yield), XD on Feb 27. (Kao Hoon, 16/02/17)
TSF
TSF expects to book Bt480mnm extra gain. It plans to wipe out retained earnings losses of Bt206mn. It expects 2017 performance to turn around. It targets to expand ad spots in front of 7-Eleven stores from 1,300 to 2,400. It sees a positive outlook for out-of-home media. (Thun Hoon, 16/02/17)
Comment: It’s a strange little company here, but if they can execute well it could be a decent cf generator
UREKA
UREKA got Bt29.45mn chiller management projects from Rama Hospital via subsidiary UREKA Automation. This increases its backlog to Bt122mn. It expects this to contribute revenue in 3Q17 and account for 12% of total revenue this year. It plans to take part in upcoming bids. (Thun Hoon, 16/02/17)
xavi
Does anyone have any info on why PSH is omitting their dividend? The reason given regarding negative equity is just a timing issue regarding the restructuring, is it a technicality that they will breach some lending covenants if they pay out under current circumstances?
Thanks
Xav
Pon
payment is delayed because the structuring of PSH was completed in late ’16. PSH has to wait for the nonlisted pruksa real estate to pay the dividend to the holdco before PSH can payout divvy’s. People are expecting that PSH will be a div in mid ’17
xavi
Thanks Pon for confirming my thoughts.
Xavi.