BBL partners with AIA for business collaboration agreement for 15 years, allowing BBL to be able to offer AIA’s life insurance products through its network and other service points all over the country. (Thun Hoon, 16/10/17)
Comment: This is a big middle finger towards BLA. So either you think that BBL is doing this to ensure that the groups market share in insurance can be maintained or grow, or that they don’t care at BLA especially after the fact that management was caught insider trading.
CMAN submitted filing for an IPO of 280mn shares to list on the stock exchange. It plans to use the funds for business expansion, pay back loans and as working capital. (Thun Hoon, 16/10/17)
Comment: Usual story, small ipo small float good first day performance.
ITEL signals 4Q17 earnings may be the year’s peak. It will book additional revenue of Bt120- 150mn from NBTC’s border internet project and plans to bid for the second phase worth Bt14bn in early 2018. It believes 2017 revenue will reach Bt1bn as targeted and grow by 30-40%. (Thun Hoon, 16/10/17)
Comment: Now the question for this group is what other projects can they win?
SPALI believes its presales will go over target of Bt27bn this year, after reaching presales of Bt25bn in 9M17, growth of 44% from last year’s Bt17.4bn. It plans to launch 7-8 new projects, worth Bt4bn in 4Q17 and currently has Bt37.4bn in backlog. (Thun Hoon, 16/10/17)
TISCO targets 2017 earnings to make a new high after 9M17 earnings exceeded target, supported by Standard Chartered Thailand’s portfolio. It expects 2017 loan growth of 10% from last year and plans to strengthen its digital banking. (Thun Hoon, 16/10/17)
Comment: I’ve only been right one time on TISCO and thats when the SSI issue reared its ugly head. Since then the company has bought SCBT’s portfolio for effectively nothing and can therefore show great numbers of the next 2 years. Interesting comments from those in the industry…with the existing CEO likely to step down in the next 2-3 years no one expects any additional acquisitions from TISCO and thus everything will be organic going forward.
TMILL says high season will give a strong boost to 4Q17 revenue. It says higher demand for wheat flour has increased orders. It also believes 2017 earnings will grow significantly. (Thun Hoon, 16/10/17)
TSR is negotiating with partners to penetrate CLMV, focusing on Vietnam and Myanmar, in order to raise the proportion of revenue from overseas. It expects to finalize the plan in early 2018. It sees a positive outlook for 4Q17 earnings and expects revenue will achieve target. It also believes 2017 earnings will reach target. (Thun Hoon, 16/10/17)
Comment: That plan was supposed to have been done earlier this year, I suppose better late than never, the question here is whether or not they can drum up enough marketing campaigns for their products.
VTE reports that it has completed its phase 1 construction on 220 MW solar power plant in Minbu, Myanmar. It plans to COD in mid-2018. (Thun Hoon, 16/10/17)
WICE plans to close the deal on the purchase of an international logistics business this year as planned, to increase business growth. It says that it is in the process of writing up a new investment proposal and business plan to submit to the boards in October. It also believes 2017 revenue will grow by 30% as targeted and plans to increase the proportion of revenue from overseas from 30% to 50% in 2-3 years. (Thun Hoon, 16/10/17)
Comment: Another acquisition for WICE? That’s quite the bold move by this management.