ASK expects 2017 earnings to continue to mark new highs. It targets loan growth of 10-15% brought by loans for trucks. It expects to control NPLs to below 1.9%. It plans expansion. (Thun Hoon, 31/03/17)
Comment: What slowdown? What crisis? ASK seems to be ticking along just fine
CBG targets 2017 revenue growth of 20-25% by expanding abroad, launching new products, and increasing its DCs to 31 locations. It plans to increase capacity to 4mn units/year in order to handle market expansion. (Kao Hoon, 31/03/17)
Comment: The #’s don’t match the story for CBG 
EPCO expects 1H17 performance to be good on the back of profit sharing from 240MW cogeneration power plant 2. It plans to acquire power plants both at home and abroad, targets capacity of 400MW before submitting filing for its subsidiary. (Thun Hoon, 31/03/17)
HPT’s backlog is Bt40mn. Its orders have risen substantially after it increased capacity by 20% from 3.6mn units/year to 3.8mn units/year. It plans to hold an exhibition to launch Central Hospitality (distribution center for high quality food and beverage equipment), targets exports to comprise 5%. (Thun Hoon, 31/03/17)
KBS expects 1H17 performance to be better YoY brought by high demand and higher prices. It targets 2017 revenue to be above Bt7.1bn. It is budgeting Bt6-8bn to invest in sugar mills. (Thun Hoon, 31/03/17)
LPH is budgeting Bt400mn to acquire two private hospitals in Bangkok and Chonburi. It expects the deal to be concluded in 2Q17. It aims at  15% revenue growth in 2017 from its specialty centers that will attract foreign patients. (Thun Hoon, 31/03/17)
Comment: What would make someone negative on the hospital industry in Thailand? Things look fantastic across the board for every group. 

NDR will pay dividend of Bt0.097/share, XD on Apr 7. It targets 2017 revenue to grow 15% by expanding to the motorcycle market both at home and abroad. It is looking for a partner to expand overseas. (Kao Hoon, 31/03/17)
PPP is focusing on the power business this year. It plans to take part in alternative energy power plants for government units and is studying investing in alternative energy in CLMV via a subsidiary. It targets 60MW power production in the future. (Thun Hoon, 31/03/17)
PTG launched a new product “PT Maxnitron”, with a sales target of 5-6mn liters this year. It aims this to focus on clients in CBD and outskirts. It expects its palm complex to start operations in 3Q17. (Kao Hoon, 31/03/17)
Comment: Just still a wonderful compounding machine. The big oil players 
PTTEP plans to acquire more business in Southeast Asia using its US$4bn cash on hand. It targets petrochemical sales of 312,000 barrel/day. (Thun Hoon, 31/03/17)
QTC’s board okayed the purchase by its subsidiary of 15% in GEP Thailand with total value of Bt267mn. The objective is to invest in a 220MW solar farm in Myanmar, which it expects to be completed within 2Q17. It is studying investment in hydropower plants in Laos to provide solid growth. (Kao Hoon, 31/03/17)
SCP expects 2017 performance to robust on both private and public projects. It expects this to increase orders for foundation piling. It is studying expanding abroad. (Thun Hoon, 31/03/17)
Comment: The continuous delay in dual track approvals isn’t the best scenario for SCP.
  1. Hospitals: I have avoided this industry, due to my uncertainties over a few issues; namely excessive forward valuations, poor yields and uncertain regional growth prospects
    1. Buying revenue only works if you can achieve savings in restructuring,/integration. What I have heard from insiders in the BDMS Group, they are facing delays and difficulties implementing management software upgrades and, in general integration of management, also a severe lack of skilled staff. I would imagine that their revenue per room is stalled. Revenue from dispensing RX may be increasing, but there is a backlash over perceived overcharging. 2. The THB is overvalued, making the prospect for other ASEAN countries to become more competitive. BDMS as a PEG of 3.0 BGH is the best of show – with an acceptable PEG of 1.5. Excuse the lengthy discourse!

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