ASIMAR says it is looking for a partner. It targets 2015 revenue of 15-20% as it expects to get two more jobs in 3Q15-4Q15. It expects to book revenue from two Cambodian ships. It plans to focus on ship maintenance jobs to increase margin from 10-30% to 50%. (Thun Hoon, 24/08/15)
Comment: ASIMAR has been looking for a partner for…years now.

Management is considering investing in an aircraft maintenance depot offering area for
rent at Suvarnabhumi airport with a budget of Bt500-1000mn. It expects this to be finalized in 2015. (Post Today, 24/08/15)
Comment: Again the only value in BA, other than its monopoly in Samui is it’s holdings in BDMS, similar to CPF and CPALL

CCP is confident 2H15 net profit will be higher than 1H15. Its backlog is Bt2.3bn, of which it expects to book 60-70% this year. It is talking with a prospective partner to export to Myanmar and Laos, expecting this to be finalized in 4Q15. (Khao Hoon, 24/08/15)

CI expects to revise up 2015 revenue growth to 20% from 2014’s Bt1.69bn aided by transfers. It plans to launch three projects with a total value of Bt3bn, which it expects will raise backlog from Bt5bn. It plans to set up a Bt1.5bn REIT in 2016. (Thun Hoon, 24/08/15)

EFORL targets 2015 revenue of Bt4.5bn after achieving Bt2.2bn in 1H15. It expects Siam Snail to contribute revenue in July. It expects to book extra gain from selling Wuttisak shares in 2H15. It plans to list Wuttisak next year. (Khao Hoon, 24/08/15)
Comment: Effectively they are now just fully recognising all of Wuttisak’s revenues

GFPT expects 3Q15 to be the best of the year aided by seasonality and the baht depreciation. It targets 2015 revenue to grow 7-8% from 2014’s Bt18bn backed by high demand. It has budgeted Bt1bn to increase broiler capacity. (Thun Hoon, 24/08/15)
Comment: Looking into our crystal ball, you could do far worse than gfpt.

KIAT plans to expand in North of Thailand and focus on the power business after it has
gotten an LPG field. It expects its power business deal to be cleared in 3Q15. It expects 2015 net profit to be good after it profit of Bt441mn in the first half of the year. (Thun Hoon, 24/08/15)
Comment: Perhaps its worth a closer look into this company, the owner loves a stable cashflow business.

KTB is confident loan growth will achieve its target of 5-6% thanks to the cabinet reshuffle.
It expects to focus on mid to small loans in 2H15 for loan portfolio diversification. (Thun Hoon, 24/08/15)

LANNA expects 2015 net profit to be good and targets 6mn tons of coal in 2016 aided by high demand. It expects to get a job from Hongsa power plant. (Thun Hoon, 24/08/15)
Comment: Every dog eventually has its day

MATCH has added Bt400mn to its investment budget of Bt769mn to add more integrated
studios. It expects construction to be finished in one year and expects it to be able to open part of it for rent in 2016. (Thun Hoon, 24/08/15)

NCL expects to show a net profit next year on the back of expanding abroad. Its operations in Cambodia are expected to start up this year. It targets revenue from overseas of 90%. It is talking with a prospective partner in Indonesia to add more routes. It is confident 2015 revenue will achieve its target of Bt1bn (+30%). (Thun Hoon, 24/08/15)

PAF’s board has approved wiping out the accumulated loss of Bt2.44bn by transferring
the statutory reserve and premium on ordinary shares and will reduce authorized and paid-up capital by reducing par from Bt5/share to Bt0.51/share. It expects to pay a dividend soon. (Thun Hoon, 24/08/15)
Comment: Every retail investor should be jumping on the band wagon for this, I do wonder if there will be a change in shareholders, however if ICC/Sahapat group I doubt it.

PLE expects to sign a contract with STEC for a Bt3.3bn job this month for construction of
the EMU depot for the MRT Green Line North. This project will raise its backlog from Bt9bn and it expects will increase 2015 revenue to Bt10bn. (Khao Hoon, 24/08/15)
Comment: A lot of the smaller players should, in time, begin to win subcontracting work from the larger players

SOLAR has signed an MoU with Phra Nakorn Rajabhat University to invest in a 5MW solar farm. Management says this will benefit both SOLAR and PRU. It plans to bid for 800MW more in power production from the government sector. (Thun Hoon, 24/08/15)

STPI has been awarded a portion of the US$92mn Ichthy project. It plans to bid for
Bt250bn, and expects to win 25%. STPI reported 2Q15 net profit of Bt712.8mn. It targets 2015 revenue of Bt12bn. (Thun Hoon, 24/08/15)
Comment: STPI is 100% all in and dependent upon the Ichthy project

TASCO expects 2015 earnings to reach Bt4.8bn after the robust performance in 1H15 backed by public investment and high demand for asphalt, especially in China, Vietnam and Indonesia. It expects this to be good for over two to three years. (ASTV, 24/08/15)
Comment: With Vietnam, Myanmar, Indonesia, the Philippines, and Thailand, all focusing on infrastructure development and spending, naturally TASCO will benefit.

TICON expects to show net profit in 2H15 from 1H15’s losses of Bt29.62mn aided by selling assets and rental revenue. It plans to set up a Bt3bn REIT in 4Q15. It has budgeted Bt6bn to add more ready-built-factories and warehouses. (Thun Hoon, 24/08/15)
Comment: A growth investors darling from 2007-2008, a value investors darling from 2008-2012, and now its just a “if only”

TRUE expects to pay a dividend this year after wiping out retained losses in 3Q15. It expects a stable growth in 2H15 earnings with 8-9% revenue growth this year. It says it is ready for the 4G auction. (Khao Hoon, 24/08/15)

VNG expects 2H15 earnings to be good backed by the baht depreciation. Management
expects 2015 net profit to be robust supported by a good performance in every business
segment. (Thun Hoon, 24/08/15)

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