BEAUTY’s confident of turning around to profitable this year, sees 5% revenue growth on cost cutting and hemp-based cosmetics.

Comment: Another “hemp player”. No one is trusting BEAUTY given that there are no Chinese tourists in town.

CPN firms on plan to open 2 malls this year including Central Plaza Ayudhaya & Sriracha, Central Plaza Chanthaburi to cod FY22, will book Bt1-2b gains from disposal of assets (Central Marina Pattaya & Central Lampang) to CPNREIT in 1Q21.

Comment: They are building destinations throughout the country and the rest can’t keep up. No one is better at mass retail locations.

PJW keeps 5-10% revenue growth target this year, on recovery in 4 core business at home and in China, sets 20.5% GPM target, and Bt150-170m capex to upgrade factories.

PLANB sets 10-15% revenue growth target to Bt5.4b, with Bt4.8b from out of home media, confident that Tokyo Olympics would not be canceled.

JUBILE sets 10% revenue growth from higher SSSG, new collections and promotion, mulls 3-5 new shops and expand e-commerce channel.

Comment: When people can’t fly they are buying all their “luxury” items within the country, I can’t see any other reason why else JUBILE had such a decent 2020.

MALEE studies downstream hemp products, to add cannabis drink mixed to juice product line, will add healthy beverages to ride health-conscious trends.

Comment: Judging by the share price performance today it doesn’t look like retail investors believe in this one as much as they do in TIPCO and ICHI

SINGER’s expected to report new record high NP this year at Bt637m, +44% yoy, on interest income from car title mortgage, at 15-16% p.a., Tabloid.

Comment: The poor trade continues. Note that the car title mortgage business model begun 2 years ago. Likely for this business unit to continue showing good numbers for the next 2 years and then we’ll see if there are issues in NPL’s.

TNP upbeats 1H earnings from strong foods sales & household products supported by cash handout stimulus, recovery SSSG & larger supermarket network yoy, will add home appliance to boost margins, eyes 10-15% revenue growth target >Bt2.4b.

Comment: Always liked the numbers from this small retailer, however it’s small, and I do always wonder 1) when CPALL, BJC, MAKRO and friends will just go in there and wipe them out and 2) What is the market limit for them?

  1. peter satrapa-binder

    @BEAUTY: well, they did turn slightly positive for the quarter in 4Q20 (after 3 quarters of losses) , although it is still much to be seen whether they can continue to be in the black in 1Q21, without any end-of-the-year holidays business in that quarter.

    regarding chinese tourists: i’d guess that those will be among the first to arrive again in thailand once 1.) vaccinations have been proceeded with more than now and 2.) china has lifted their ban on tour groups…

  2. Was the subsequent little pop in MALEE a delayed reaction of potential marijuana CBD offerings, and do you see any value in this company based on management, operations, competitive products?

    • Management was in the Thai news 2 days ago saying they will turnaround this year and are looking into cbd products.

      As for the rest of your q’s, too much to answer. Short response – decent management, ops are fine, products are nothing special (though what is special?), industry killed by sugar tax (though coke can still be sold w/o issues… Financially missing the ability to do OEM exports for new hit products – what drove their share price in the past was 1) Getting the coffee mfg contract post the thai floods in ’11, then 2) the coconut drinks boom in ’17. If CBD kicks off and they can do oem exports, then wouldn’t be surprised to see this 4-5x from here.

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