ATP30 expects 2017 revenue to be a record high of Bt350mn, up 15%, brought by Bt320mn revenue contribution from a service contract. It is talking to four new clients and expects to complete one transaction in Feb. It is budgeting Bt120mn to buy more buses to meet greater demand from more clients. (Kao Hoon, 19/01/17)
Comment: A fairly straightforward business, get some clients, buy some buses done.
MRTA’s board negotiating with BEM to handle the one missing station (Tao Poon-Bang Sue) with total value of Bt918mn. It expects to sign the contract in Feb and for operations to start by Aug 12 this year. (Kao Hoon, 19/01/17)
BIZ expects 4Q16 earnings of Bt32.8bn, up 39%. This will bring 2016 net profit to Bt102mn. It plans to sell X-ray machines to private and public hospitals, which will raise its backlog. (Kao Hoon, 19/01/17)
BWG expects substantial earnings in 1Q17, boosted by revenue contribution from 9.4MW power plants. It expects these to contribute Bt80-90mn/year. It expects 2017 net profit to grow 27%. It expects 4Q16 net profit to grow 14% to Bt84mn. (Kao Hoon, 19/01/17)
Comment: A lot of events could come out positive for BWG in the next few months if they actually occur. 1. The COD of their first plant, 2. Winning additional projects from the government
CPF and its Taiwan partner established a JV company. This company will engage in layer chickens abroad. (Thun Hoon, 19/01/17)
EIC acquired “S. Thana Media”, for Bt422mn. It says its fundamentals are strong. It expects this to contribute revenue of Bt100mn/year and support company growth. (Kao Hoon, 19/01/17)
Comment: This is a funny little company, the people behind it are the ones that were going to buy AC Milan (note: it never happened)
ESSO is budgeting Bt1bn to open 35 service stations to maintain its market share and keep it in third place among players. (Kao Hoon, 19/01/17)
FN targets 2017 revenue growth of not less than 20%. It plans to open four stores in 2017-2018 and these will increase revenue. (Thun Hoon, 19/01/17)
Comment: Rather interesting business model in that they still own their brands, 65% of sales is from them, they’re only upcountry, and they’ll go from 8 to 12 branches in the next few years. Shame that it’s quite fairly priced already.
GLOW plans to invest in power business abroad, focusing on Myanmar and Vietnam. It expects a deal to be finalized in 2017. It is budgeting Bt3-5bn to extend the contract for 4 SPPs with a total capacity of 180MW. (Thun Hoon, 19/01/17)
GUNKUL continues to invest abroad, beginning with Malaysia and Vietnam. It targets total capacity of 1,000MW by 2021 with investment budget of Bt30bn. (Kao Hoon, 19/01/17)
Singapore investors are interested in JWD shares because of its strong fundamentals. It is budgeting Bt500mn to support its logistics business. It targets 2017 revenue to grow 7%, underwritten by more customers. (Thun Hoon, 19/01/17)
KBANK reported 4Q16 net profit of Bt10.24bn, up 87.06%YoY. This brought 2016 earnings to Bt40.17bn, up 1.77%. Behind this is 5.49% growth in interest income. Its NIM is 3.52%. (Thun Hoon, 19/01/17)
Comment: I wouldn’t be surprised to see numbers slowly improve from the banks in the coming quarters IF the infrastructure projects continue their roll out from the government.
MJD’s backlog is Bt10bn, which can cover revenue till 2020. It expects this to contribute revenue of Bt2-3bn/year. It plans to launch 2-3 new projects/year to provide sustainable growth. (Kao Hoon, 19/01/17)
NDR targets 2017 revenue growth of 10-15% by expanding both at home and abroad. It is budgeting Bt50-100mn to improve its production efficiency and R&D. It is studying investing in tires for cars and trucks as it believes this will strengthen its growth. (Thun Hoon, 19/01/17)
NWR expects to benefit from its property subsidiary which has had Bt600mn in transfers. It continues to launch new projects, which it expects will raise revenue to Bt1bn in a few years. For the construction business, it is looking for partner in order to take part in the bids for the five dual-track projects valued at Bt10bn. (Thun Hoon, 19/01/17)
PF plans to launch five new projects in 1Q17, valued at Bt7.2bn with a 2017 target of 18 projects with value of Bt24.6bn. It is budgeting Bt3bn to buy land, focusing on Bangkok and outskirts. (Thun Hoon, 19/01/17)
PPS targets 2017 revenue to be a 30-year high of Bt330mn or 15% growth. Its backlog is Bt500mn, with Bt250mn to be booked in 2017. It plans to take part in upcoming bids. It sees a positive outlook from mega investment in both public and private sectors. (Kao Hoon, 19/01/17)
SAMTEL expects to get TOT’s Bt15bn Internet project because TOT is already a customer. It expects to take part in NBTC projects, which it expects will increase its backlog from Bt6.9bn. (Thun Hoon, 19/01/17)
Comment: Could the ICT sector (AIT, SAMTEL, MFEC) finally receive a lifeline?
TCAP reported 4Q16 net profit of Bt1.69bn, up 28%. This brought 2016 earnings to Bt6bn, up 10.61%. Its NPLs dropped to 2.41% with coverage ratio of 146.79%. (Kao Hoon, 19/01/17)
Comment: They’ve done a tonne of provisions in ’15 hence why ’16 numbers look good, and ’17 should as well.
UAC plans to invest in power business in CLMV. It expects to complete the deal for a 20MW power plant in Myanmar and 5MW waste power plant in Laos in 1Q17. It expects 2017 revenue of Bt1.8bn on the back of revenue contribution from biodiesel and power businesses. It plans to list its subsidiary (UAPC) in 2018. (Thun Hoon, 19/01/17)
Comment: The holdco dream that the owner laid out some 3-4 years ago is finally becoming a reality
UPA said Jera Power (Thailand), an expert in investment and the biggest power supplier in Japan, is interested in becoming a partner to invest in a 200MW natural gas power plant in Myanmar. (Kao Hoon, 19/01/17)
VTE is studying three power plant projects in Japan (solar and wind). It expects due diligence to be concluded within 2Q17. (Thun Hoon, 19/01/17)