ASIAN raised revenue target to 22-23% or Bt11.6b, from 19% or Bt11.2b, on higher growth in pet food, tuna business, weak THB, and gain from 10% AAI stake sale in 4Q, boosting GM to 19%.
Comment: Just outstanding
BRI reaffirms Bt11b FY sales target, 50% of Bt2.19b outstanding backlog to realize in 4Q, will launch 3 SDH projects total Bt4.25b by end of year.
CENTEL sees turnaround this year with 408% revenue growth from recovery in tourism, average OCC, including Dubai, at 45-50% and Bt2,200-2,500 average RevPar, and 20-25% growth in food business.
Comment: This continued rise in performance explains why the share price returned to 2018/2019 levels.
MINT sees meaningful turnaround next year after re-payment EUR100m float rate loan in Aug, additional EUR100m to be paid on Dec ahead of schedule to curb cost, QTD RevPar >FY19 level while average OCC >60%, 2 hotels management contracts in ITA & FR begins operation in December, sets Bt10b capex to open 6 hotels in Indonesia, Maldive, GER, ITA, AU &SW lifting total to 66 property, 14,074 rooms from current 60 hotels in portfolio.
Comment: Tradeable opp came and gone. Though….with Europe continuing to do well…couldn’t they finally recap NH with an equity sale there to pay down the debt. And then would it be a surprise to see MINT back into the high 30s and 40s?
PTG keeps 15-20% EBITDA growth this year, solid 3Q growth at 180%, announcement Bt0.20 dividend, XD Nov 28.
Comment: Great buy if/when oil crashes.
SIRI sees success in horizontal projects with Bt28.5b presales in 10M22, or 84% of Bt34b full year target, +130% yoy, mulls 3 new projects worth Bt3.287b late Nov.
Comment: Rumours have it that the president may run for the PM position under PT. Would be interesting.