ASW sets Bt8.7b revenue target this year, Bt19.5b backlog, starts transferring 9 projects worth Bt14.7b, sets Bt17.8b presales, 12 new projects worth Bt25.92b.

CREDIT: Thai Credit Bank debuts IPO 254.12m shares at Bt29 apiece, CIMB (TH) leads.

Thai Credit bank (CREDIT) sets 20-30% loan port growth p.a., 9M23 NIM at 8.2%, highest among peers and 21.8% ROE, Tabloid.

Comment: Yeah it’s overpriced, the IPO will flop, don’t trade it. Should be -30-50% from its price. Let’s see…

FSMART to install 2,000 Ginka Charge Points this year, reaching 10K in 3 years, launches promo for Ginka at BKK EV Expo 2024.

Comment: If there is one group that has a track record to install vending machines/points throughout the country, it’s FSMART.

MINT’s 4Q23np @ Bt984m, missed Bt2.35b estimate mainly due to fluctuation of FX which results in hedging & derivatives losses, operation wise core profit came in at Bt2.501b, +5% yoy, FY at Bt5.4b, +26.15% yoy, missed Bt6.84b consensus, revealed Feb-Mar hotel booking, TH +39% yoy, EU +20% yoy.

Comment: Do you notice that they NEVER talk about how bad the F&B businesses are? (excl Dairy Queen, that’s the main one rocking n rolling)

PTT: results out next week (Feb 15), market estimate Bt 28.05b for 4Q23m, FY at Bt 102b.

RBF eyes 10-15% FY revenue growth target, driven by food odors, flavors & breadcrumb exports to India & China, lower raw material & shipping costs from contribution from Indonesia plant (phase 2).

Comment: The q mark still remains on GPM consistency, but I like this company (exclu all the CBD noise)

SC sets Bt26.5b revenue target this year, Bt15b backlog, transfers of 2 condo project worth Bt7b, sets Bt28b presales target, a record high for the 5th years, plans 17 pjs worth Bt30b, sets Bt25b capex for 2 business segments, real estate and business with recurring income.

THCOM: FY at Bt353m, +738% yoy, thanks to one off Bt301m compensation from dispute with business partner over contractual terms & narrower loss from investment in telco business in Laos, pays Bt0.13 dps, XD Feb 21.

VRANDA anticipates FY24 turnaround after exit loss making dessert business in 4Q23, shifts focus to core business hotels & resorts, will cod 159 guestrooms Veranda Resort Phuket Autograph Collection & expansion phase of Rocky Boutique Resort Veranda Collection Samui this year, firms on 15% FY revenue growth target.

Comment: Well it tried to be a mini-CENTEL/MINT and flopped. VRANDA is a constructor that made enough $ and decide to go into the development of their own resorts – which they have done rather well. But to placate a family member to do an f&b brand was obviously a STOOPID capital allocation decision.

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