ASP says it has at least 32 IB deals. 18 are IPO deals and 14 are M&A. This will secure a good revenue stream for the next two years. The firm expects 15% revenue growth this year. (Kao Hoon, 10/03/15).
Comment: Still the best complete IB house in Thailand today.
MTLS sets the loan growth of 30% this year to Bt16.5bn. The firm also expects to expand into personal loans and nano finance within 3Q15. (Kao Hoon, 10/03/15)
MODERN says Thai economy overall remains sluggish especially in the first two months of the year, resulting in poor performance in the retail business including its own. Fortunately, it has been able to secure orders from residential property customers worth Bt3bn. (Kao Hoon, 10/03/15).
NUSA expect a stellar growth in revenue of 57% to Bt2bn in 2015 underpinned by revenue recognition from backlog of Bt2.27bn. The firm also plans to buy new land worth Bt2bn and open at least four new projects worth Bt23bn. (Kao Hoon, 10/03/15)
PACE expects 2015 to be a turnaround year, expecting to turn profitable this year after losses in 2014. This will be fuelled by a jump in revenue to Bt7bn from booking revenue from Mahanakorn–Mahasamut project and full revenue recognition of Dean&Deluca restaurant in 2015. (Kao Hoon, 10/03/15)PLAT
Comment: It’s all based around mahanakorn for pace still, Dean&deluca is a nice addition to earnings but the stock price will be driven by the transfers of mahanakorn for the next few years, after that who knows?
IPO price should be in the range of Bt7.40/share with good response from investors. The firm plans to raise about Bt5bn from the IPO, selling around 700mn shares. The proceeds from the IPO will be used to fund business expansion. Book-building will held on March 12-13, and 16. The first day trading is expected to be on March 24. (Kao Hoon, 10/03/15)
Comment: Don’t have much information on this company, but given it’s size its considered slightly “large” by local standards, I don’t expect much of a first day bounce.
TUF expects revenue of US$5bn in 2015. The firm also will propose a capital increase to the board in the amount of US$400mn in April 3 to fund the purchase of Bumble Bee. Following the capital increase, D/E ratio is expected to be 1.1x. (Kao Hoon, 10/03/15).
WHA will join HEMRAJ management team next week following the acquisition of 60% of HEMRAJ’s stake. WHA also plans to sell land in Koh Lan worth Bt3bn and plans to set up an REIT worth over Bt10bn. (Kao Hoon, 10/03/15).
Comment: Watch for more and more news coming out from HEMRAJ/WHA about asset sales and spin offs, WHA needs the cash to pay off the acquisition