ASK expects 4Q18 loans to grow in line with economic expansion It expects loan growth of 10- 15% from last year’s Bt30bn. It expects NPL ratio to reduce to 2% due to loan quality improvement and strict debt collection. (Thun Hoon, 7/11/18)
BBL targets loan growth of 5% next year driven by government mega projects. It has increased foreign business loans in line with growth in private investment, but it worries about the trade war, which may slow GDP growth to 4.2% and raise NPL ratio next year. It is confident that it is able to control NPL ratio and it will increase provisions for stability. (Thun Hoon, 7/11/18)
DOD entered China. It has signed an MOU with CNR-MALL and CAS ICCB to distribute dietary supplements through TV shopping on CCTV channel. It has become the first – and so far the only – Thai company to gain this channel. It will start with ten products and expects total value of Bt10mn in 4Q18. (Kao Hoon, 7/11/18)
Comment: Well…no not interested, don’t see the upside, they can’t compete.
MACO reported 9M18 earnings of Bt183mn. 3Q18 earnings were Bt68bn. It included Trans Ad-Roctec into its consolidated financial report. It expects 4Q18 earnings to grow, backed by high season for advertising. (Kao Hoon, 7/11/18)
MTC reported 3Q18 earnings of Bt965mn, +48.46%YoY, which was a record high. 9M18 earnings were Bt2.7bn, +54%YoY, with loans increasing Bt21.3bn and NPL ratio below 1.26%. Management is confident that 4Q18 earnings will break Bt1bn and it expects to be included in MSCI index on November 13. (Kao Hoon, 7/11/18)
Comment: Just amazing #’s
NER will start to trade on the SET today. IPO price is Bt2.58/share. 1H18 earnings were Bt167mn, +2,176%, The earnings growth came from cost control which also widened its gross margin. (Thun Hoon, 7/11/18)
Comment: Another massive failure at IPO. Has something changed in the mechanics of the small IPO game?
EA signed MOA with South East Advisory to set up an electric charging station “EA Anywhere” nationwide. It targets to set up 1,000 stations, piggybacking the growth of electric automobiles. (Kao Hoon, 7/11/18)
Comment: Hmmm…
SIRI has budgeted Bt1.9bn to acquire 35% in The Standard, a hotel company. It plans to set up 20 hotels worldwide within five years. Target locations are downtown, resort towns and beaches. It targets IRR at 15-20% and it expects recurring income to contribute 5-10% of total revenue. (Thun Hoon, 7/11/18)
SNC reported 3Q18 earnings of Bt75.73mn, +11.37%YoY. It expects 4Q18 earnings to grow driven by new orders after its products were accredited by SASO. It expects earnings growth of 15% next year. (Kao Hoon, 7/11/18)
SPRC expects 4Q18 earnings to recover as it has no refinery maintenance. It expects refinery margin of US$6-8/barrel in 4Q18. Oil demand continues to grow. It has budgeted US$80mn to increase production capacity to 175k barrels/day. (Thun Hoon, 7/11/18)
TIGER was awarded V Villa Phuket hotel construction project valued at Bt160mn. It expects to be awarded many projects and increase backlog. It confident that revenue will grow by 30% this year. It is waiting for the bidding results of 2-3 projects with total value of almost a billion baht this year, supporting next year’s earnings growth. (Kao Hoon, 7/11/18)
Comment: It was an expensive IPO – hence the rubbish first day performance. But at least they are proving that they can win projects.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.