ASIAN management expects a 2Q18 earnings turnaround supported by strong order flows, a new production line and baht depreciation against the US dollar. The company has Bt1bn budgeted for M&A for business expansion and long-term growth. Its dog and cat food under the new “Maria” brand is expected to bring Bt100mn in revenue next year. (Thun Hoon, 21/5/18)
BAY’s board of directors approved a budget of US$30mn or around Bt1.0bn to invest in technology funds all over the world, primarily in startups and fintech that focus on AI and blockchain. (Post Today, 21/5/18)
BSM aims to grow its property business with the plan to launch three new property projects with total value of Bt1.2bn. 2019 revenue target is Bt1.0bn. Revenue contribution from the property business is targeted to rise to 50% in 2020 from currently 20%. (Thun Hoon, 21/5/18)
Comment: That would mainly be driven the by the project in Hua Hin at Black Mountain
CIMBT management targets to micro-finance loans growth of 10% YoY this year (from 6-7% last year) with Bt30bn in new loans, consisting of housing loans, personal loans, car loans and motorcycle loans. It has already extended Bt7-8bn in new loans in 4M18. Management aims to maintain NPL level at 4%. (Post Today, 21/5/18)
EKH will launch a new fertility center to support women who have difficulty in getting pregnant both local and from China. Management plans to raise room rate by 10% and expects earnings to grow by no less than 10% this year. (Thun Hoon, 21/5/18)
GULF targets to conclude an acquisition in Thailand to add 300-400 MW capacity by 3Q18 with investment of US$450mn. It expects continued growth in 2Q18 with full earnings recognition of GNC. 2018 revenue is expected to grow 120%. After 2025, dividend revenue is expected to be around Bt10bn per annum. (Kao Hoon, 21/5/18)
Comment: The new and only acquisition machine in Thailand today?
JSP targets 10% earnings growth this year with current order backlog at Bt2bn. The company will open four new projects with total value of Bt2bn. Its 2018 sales target is Bt6.8bn. (Kao Hoon, 21/5/18)
K is focusing on projects with relatively high profit margin. 2H18 outlook is bright, supported by the company’s plans to join project bidding in Myanmar, Vietnam, Cambodia and Laos. Revenue growth target is 25-30% for this year with Bt852.5mn order backlogs: 70-80% is expected to be recognized this year. The company aims to get 10-15% of its bids of Bt1.6bn. (Thun Hoon, 21/5/18)
Comment: I expect to see a flurry of positives numbers coming through right before Icon Siam opens.
PTT expects 2Q18 earnings performance to remain strong on higher oil price which could be in the range of US$66-71/bbl. Also, its GSP#2 has resumed normal operations after its planned shutdown in 1Q18. The company will revise up its revenue from non-oil business to 30% in five years. It will invest Bt342bn to expand its gas pipeline network to transmit more LNG. (Kao Hoon, 21/5/18)
SKE expects 2Q18 performance to better than in the same period of last year, supported by rising gas orders. The company’s sales growth target is 15% this year. A new biomass power plant with 9.9 MW capacity is expected to start commercial operation by mid-2019 to support long-term cash flow. (Thun Hoon, 21/5/18)
Comment: Just like any other renewable player, hurt by the comments from the energy minister.
TRUE announced on Friday that it will not participate in the 1800MH license auction. Despite TRUE’s exit, the National Broadcasting and Telecom says the auction will be held even if there is only one bidder. (Thun Hoon, 21/5/18)
Comment: Because they have no money!
WHA is talking with potential partners to jointly develop new industrial estates with no less than 2,000 rai with the expectation of concluding the deal by 2H18. For the joint venture with IRPC, revenue is expected to be in 2021. 2018 revenue is expected to grow by 20%. (Kao Hoon, 21/5/18)