BBL says 2018 loans will grow similar to 2017 at 4-5% in tandem with ongoing fluctuations in the world economy. It also says that the BoT deposit policy act will not affect its business. (Thun Hoon, 2/11/17)
Comment: Banks seem to be signaling that the NPL issue is over.
BPP contracted to invest 51% to develop a new solar farm in Japan. This will have production capacity of200 MW and is planned to COD within 2H23. (Khao Hoon, 2/11/17)
GLOBAL reports 3Q17 earnings of Bt338.81mn, growing by 2.82% after booking revenue from Global House International, Global House Cambodia. It currently has 52 branches at home and overseas. (Khao Hoon, 2/11/17)
Comment: But sales dropped by -15% or so
JMART says 2017 earnings will be a new high, as the mobile business has been growing well. It is negotiating with partners as it plans to expand via a joint venture or acquisition, with one deal expected to finalize this year. (Thun Hoon, 2/11/17)
Comment: It’s a remarkable turnaround in the past 12 months for JMART
SCC will budget Bt50-60bn to expand investment in Vietnam and improve its businesses. It expects to finalize Petroindo Phase 2 in mid-2018 and believes 2017 revenue will grow by 3-5% from last year, as demand is continuously growing. It is going to book Bt500mn profit from the sale of a subsidiary in 4Q17. (Thun Hoon, 2/11/17)
SEAFCO got two new projects worth Bt510mn, increasing its backlog to Bt2.5bn. It expects to receive more in 4Q17. (Thun Hoon, 2/11/17)
Comment: They keep winning projects but with a backlog of 2.5, how does this justify current valuation? It would have to increase by 4x
SIRI expects 2017 revenue will reach target of Bt34bn. It is going to launch 10 new projects in 4Q17 and backlog of Bt40bn, of which Bt7bn will be booked as revenue this year. It is also preparing an event, “Sansiri Life Comes Home 2017”, to promote 10 condominiums and stimulate sales. (Thun Hoon, 2/11/17)
WHAUP COD Gulf TS 3 power plant with 125 MW on November 1. This increased its total capacity to 478.40 MW. It also has projects which are in the process of construction and development for 63.60 MW and it plans to COD in 2017-2019. (Khao Hoon, 2/11/17)
Comment: On an earnings basis the story is similar to TPIPP, there will be constant earnings growth until all projects are up and running
WICE’s board approved Bt115mn to buy UWT shares. UTW is a logistics company providing international air and water transportation and it expects this to help drive revenue in the long term and increase revenue proportion from overseas. (Thun Hoon, 2/11/17)
Comment: The 2nd acquisition made by this firm since going public, impressive to see. Now who wants to bet against them doing a third?