BANPU plans to list subsidiary Banpu Power (BPP) on the SET in 1Q16. It targets an increase in electricity capacity from 1,878MW to 2,700MW to 4,000MW in the long term. (Khao Hoon, 09/09/15)
Comment: This should change the value proposition in BANPU dramatically.

BROCK is talking to three prospective partners to invest in mixed-use property in Phuket, valued at Bt10bn. It expects 3Q15 earnings to be good backed by high orders. It expects 2015 revenue to grow 10%. (Thun Hoon, 09/09/15)

BSM expects to expand to Australia, finalized within 1-2 months. A JV with KCM proceeds as planned. It expects 2H15 revenue to be good backed by Bt30mn from Myanmar and India. It expects 2015 revenue to achieve target of 20% growth. (Thun Hoon, 09/09/15)
Comment: Always liked this company, never liked its valuation.

DCON expects 2H15 revenue to be good aided by 16,000 foundation piles for EA’s solar farm and high demand from private power projects and public investment. It has budgeted Bt500mn to acquire land. (Thun Hoon, 09/09/15)
Comment: DCON’s price is returning back to earth as the news of the condominium recognition is well known in the market.

DTAC expects 4Q15 earnings to peak thanks to seasonality. It has launched a program “Blue Member”, which it expects will raise subscribers to 4.2mn by this year. (Thun Hoon, 09/09/15)

FIRE expects 2015 net profit to drop from 2014’s Bt60.6mn affected by the weaker baht. It expects 2015 revenue to grow 10% from a target of 15% because of higher cost. It plans to set up a sales office in Cambodia. (Thun Hoon, 09/09/15)

GL board has approved the set up of a JV in Indonesia, named PTJ Trust Finance Indonesia. It expects this to operate by the end of this year. It expects this to be a multi finance company registered to facilitate business expansion in Indonesia. (Thun Hoon, 09/09/15)
Comment: Perhaps the only true small/mid sized company in Thailand that is focused on the region and has utilised capital markets well to grow throughout the region in the past 5 years. Note: PTJ was the main subscriber of its CD last year

PJW expects 2H15 revenue to grow backed by new car models and 100% growth in automotive parts. Its backlog is Bt100-150mn. It expects 2015 revenue to hit target growth of 10%. It is talking to 1-2 prospective Chinese partners and expects these to make a decision this year. (Thun Hoon, 09/09/15)

S plans to buy a property business abroad which is expected to be finalized this year. It expects 2015 earnings to turn around from 2014’s net loss of Bt250.78mn backed by a subsidiary. It plans to sell asset to an REIT and list a subsidiary within three years. (Thun Hoon, 09/09/15)

SCC expects 3Q15 net profit of Bt9.5bn (+21%YoY) thanks to growth in petrochemical and construction and material businesses. (Khao Hoon, 090/09/15)

SCN expects to benefit from the increase in NGV price of Bt0.5/kg to Bt13.5/kg. It expects 2015 revenue to grow 40% backed by expanding abroad. It keep on track on existing construction project, expects this to contribute revenue of Bt600mn this year. (Thun Hoon, 09/09/15)

SPA booked extra gain from a sale of spa franchise agreement of “Let Relax”. It expects this to contribute Bt4mn/year/branch. Management expects 4Q15 revenue to mark a record high. It plans to expand to Vietnam and Cambodia. It plans to acquire a 4-star spa in Thailand. (Thun Hoon, 09/09/15)

T has cancelled the purchase of a hotel business in U.K valued at Bt4.3bn because Fico Holding terminated the MoU. It expects to receive its Bt10mn deposit back. (Khao Hoon, 09/09/15)
Comment: Quite a few people are going to be laughing at this.

TAKUNI plans to focus on oil and gas construction and security check. Its backlog is Bt221mn and will bid for Bt900mn in jobs, with results in 1-2 months. (Bangkokbiznews, 09/09/15)

TICON expects 4Q15 revenue to be this year’s highest with net profit this year aided by Bt3.2bn from selling land. It revised down 2015 revenue to Bt6.16bn. It plans to expand warehouses in Indonesia and Vietnam. (Thun Hoon, 09/09/15)
Comment: But their revenues have been falling continuously in Thailand. It hasn’t been a good period for TICON size the floods in 2011.

TNDT has signed contract for PPA to supply 10MW electricity from coal fired power plant (two units) which is expected to contribute revenue in 2017. It plans to invest in Indonesia, with revenue in 3Q15. It expects 2015 revenue to grow 10% backed by Bt260mn backlog which it expects to book this year. (Khao Hoon, 09/09/15)

TUF has done a JV with Savola Food Company to expand its market in the Middle East. It expects 2015 revenue of US$5bn aided by high demand and broader customer base. (Thun Hoon, 09/09/15)

UMI is looking for prospective partner to invest in alternative energy business as it already has a location for a solar farm and solar roof. It expects sales of tiles to increase in 2H15 on the back of government stimulus measures. (Thun Hoon, 09/09/15)

  1. Pon how do you think the imminent interest rise rate by the FED will impact on the SET and the SGX? Obviously, it’s a great buying opportunity, but should I buy the same day the announcement is made or wait a day or two. In your experience, is it better to buy when the Mr. Market twitches for the first time or wait for a couple more trading days to see what happens and then buy?


    • 4 scenarios
      1. Rates up sharply – dollar strong, risk off, assets classes down
      2. rates up w/ language for steady slow and data dependent – equity market wobble, usd up, us equities up, asean may be down
      3. rates flat – risk on, everything up ST
      4. rates down – who knows?

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