BBL has budgeted Bt200mn to invest in “Thai Payment Network”, increasing its shares to 69.08%. It targets to expand business as the country moves towards a cashless society. (Thun Hoon, 19/9/18)
A mutual fund in the US is interested in BEAUTY due to its strong fundamentals and good future. It expects some good news soon. Its CEO says 2H18 results will be good, supported by high season. He targets revenue of over Bt4.29bn, supported by a rise in demand and store expansion. (Thun Hoon, 19/9/18)
Comment: Again its just a valuation question at the end for this company. People may comment on the share price movement but in the end you should pay the price you think is “reasonable” for the shares….rant aside, never understood why such a business should be rated so highly.
GL expects a turnaround in 3Q18 after last year’s Bt2.6bn loss from provisions for borrowers in Cyprus and Singapore. It expects loans to reach in 2022. Revenue will rise to Bt4.6bn in 2022 as well. It expects foreign revenue will increase to 45% of its total revenue, especially from Myanmar. (Thun Hoon, 19/9/18)
Comment: And those loans? 
GPSC says GLOW acquisition is not contrary to constitutional law. It reiterated that it is a public company, not a state enterprise. It has complied with the Public Limited Company Act. (Kao Hoon, 19/9/18)
INGRS says backlog is Bt4bn and it will book backlog as revenue over five years. Recovery of Malaysia’s automotive industry will support its growth.  (Kao Hoon, 19/9/18)
Finance Ministry agreed to the acquisition of TMB by KTB. The decision is expected to be known in 1-2 months. If the acquisition goes through it will raise total assets to Bt3.65trn, more than BBL, SCB and KBANK. The financial advisor expects to use a share swap method for the acquisition and the value of TMB shares must not be below government capitalization of Bt3.86/share (Kao Hoon, 19/9/18)
Comment: FUNNYMENTALS! Well Cathay just bought into SAWAD at 5x PBV so … who knows, if memory serves correct then the transaction would have to happen @ 2.5 PBV so.. who knows…it’s been in the news for that TMB has been up for sale since I started working in Thailand 14 years ago..
MINT expects 2H18 results to grow, supported by high season. It will ask the board to approve a revision of its five-year strategy plan after it acquired NH Hotel and holds 51-55%. The shareholding proposition after the tender offer will be concluded in October or in 4Q18. (Kao Hoon, 19/9/18)
Comment: 50 year anniversary of MINT. Astounding.
PSH has launched PruksaVille Rangsit – Soi Workpoint project worth Bt945mn. It is comprised of many two-storey townhomes, which use the same high-quality construction materials as single houses. They are designed to save energy. The project is near the Red Line and motorways. It will open for presales on Sep 19-20. (Kao Hoon, 19/9/18)
SAWAD raised capital via private placement with Cathy Finance Holdings, a Taiwan financial institution. It expects returns of 7-8% but it will dilute EPS by 4.4%. The deal will help it to reduce financial cost and support investment in Vietnam and Cambodia. It expects earnings to increase in 2019. It is looking for investors to purchase 10-15% of its shares. (Kao Hoon, 19/9/18)
Comment: 5x PBV, fundamentals! 
SPPT plans to become a big player in digital marketing. It is looking for partners to enter into ecommerce, e-payment and integrated logistics with its strong corporate customer base. It expects Bt60mn earnings from the restructure of an acquired logistics business. It is looking for government and state enterprise customers. (Thun Hoon, 19/9/18)
TACC expects 2H18 results to be good after the sugar tax problem was resolved. It has adjusted its drink ingredients. It plans to launch new products. It expects a profit margin of 30% this year. It is the agent for Rilakkuma and has received a good response. It is negotiating to invest in restaurants both at home and abroad. (Kao Hoon, 19/9/18)
  1. for Beauty, at 7 baht I saw value in the stock, today at 12 baht I’ve decided it has had its recovery and run up to be fairly priced so I have just exited a modest position of 250k, I’ve decided to go more defensive and yield hungry so have increased my Ratch holdings with the proceeds. Thank Beauty for the gains which have helped offset the heavy losses I’ve taken on Demco.

    • Elections are making Thailand great again. Coupled with a strengthening THB and oil prices staying here and interest rates supposedly going up in 1Q19 +ve banks, market could go onwards.

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