AU expects 2Q17 to do better than 1Q17 from stronger demand. The company plans to open seven new branches. (Thun Hoon, 27/6/17)
Comment: Every potential dream looks fully priced in

CK expects to win 20% more projects in 2H17 from new bids worth Bt400bn for five dualtrack train lines and three electric train lines (Purple Line, Orange Line (West), and Red Line). The company has recently gained Bt48bn more work, adding to the backlog of Bt100bn. It expects revenue of Bt30-35bn in 2017. (Thun Hoon, 27/6/17)
Comment: If you look further down the industry chain there are several other listed players that will benefit from this infra spending, perhaps now they will finally begin to perform?

EA recently started its 45 MW wind power project in the south. It expects 2H17 to be strong from total capacity of 404 MW. Management expects record high revenue and earnings this year. (Thun Hoon, 27/6/17)
Comment: And a continuation of what everyone has known for the past 4 years.

ILINK expects 2Q17 to be strong from business growth and backlog of Bt1.7bn, of which Bt100mn will be booked in 2Q17. It is in the process of bidding for more projects this year. The company reported that AOT’s cancellation of the APM bid will not impact revenue this year. It targets 15-20% in revenue growth this year. (Thun Hoon, 27/6/17)

IRPC expects 2017 performance to meet target after operations returned to normal and expects UHV operations to meet goals. EBITDA contribution from the Everest project is targeted at Bt7bn. (Thun Hoon, 27/6/17)

JWD is emphasizing its moving services, which will support its subsidiary JVK. This is expected to support revenue growth of 7% after JVK posted Bt256mn or 11.5% of the group’s total revenue. The company is looking to expand its client base, as well as increase its warehouse area for rent. Currently, the warehouse rental space has a 70% occupancy rate. (Thun Hoon, 27/6/17)

LPN achieved presales of Bt10bn in 1H17 from full year target of Bt20bn. This was supported by the launch of ‘The Selected’ in Kaset and Ngam Wong Wan area worth Bt1bn. The company will launch three new projects worth Bt5-7bn in 3Q17. It targets revenue of Bt10bn this year. (Thun Hoon, 27/6/17)

Comment: Time to wonder if its time for a turnaround in this player

NBTC is asking MCOT for the return of 90MHz bandwidth on the 2600 MHz spectrum. The NBTC bill requires the NBTC to compensate for the return of the bandwidth. NBTC board will set up two committees to replace CAT and NTC. NBTC’s board will finish its term on Oct 7, 2017. (Thun Hoon, 27/6/17)

TKS reports that Singaporean funds have shown interest in the company. The company is in talks for business expansion in neighboring countries and additional capacity for its packaging business. It will also gain equity income from SYNEX. (Thun Hoon, 27/6/17)

TOG expects 2H17 to see 7-10% YoY growth and beat 1H17. It is looking to expand overseas and reach new customer groups. (Thun Hoon, 27/6/17)
Comment: Great little company, but nothing magical happening.


TRUBB expects 2017 revenue to grow 10%. The company is expanding into new markets in South America, Europe and Muslim countries as these countries give better pricing than China. It expects 2Q17 to be strongly supported by rubber prices in the Bt60-70/kg. The company is also getting strong demand for its rubber derivative products. The company’s high season is during the 3Q and 4Q . (Thun Hoon, 27/6/17)

  1. just exited AU, fortunate to have coverage issued by Bualuang yesterday. agree its overhyped.
    any idea is Samtel’s SP weakness a shortterm thing?

  2. I’m bullish on the IT sector mainly Samtel and AIT. I think the weakness in Samtel is just a natural pullback from a run up of close to 35% from its low.

  3. thanks. never checked how far it had advanced. happy to wait for news of more contracts. it seems to have an in with various government arms (duh)

    • The run up before this pullback was actually close to 45% from its low just below 10 baht. I’ve been slowly accumulating since then and am still buying in the mid 12s. Average cost just over 11 baht now but I do think this sector will go on a run at some point.

      I’m staying clear of the parent because of SIM exposure.

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