BGRIM plans to invest in 250MW more capacity in Vietnam, adding to current capacity of 420MW. The results will be known soon. It is also studying investment in Korea and Malaysia. It plans to add total capacity of 179 MW this year and plans to issue a Bt10bn bond. (Thun Hoon, 3/8/18)
Comment: 1GW is on the cards for them
BTW has been awarded a Bt270mn project. Management says it plans to bid for projects with total value of Bt3-4bn. With this, its backlog is expected to increase to nearly Bt1bn from Bt560mn in 1Q18. It expects revenue growth of 10% this year. (Thun Hoon, 3/8/18)
EA believes Hanuman wind power plant (260MW) will start up as scheduled this year. This will raise capacity to 664MW. It will report its 2Q18 financial statement next week. (Kao Hoon, 3/8/18)
Comment: No changes to their core business, however for me there is still a massive question mark regarding their battery tech.
ECF has started op its biomass power plant in Prae. It plans to open another plant in December. The company expects the expansion to boost growth. (Thun Hoon, 3/8/18)
PF reports 1H18 project transfer value of Bt5.88bn. Presales in 1H18 reached Bt8.24bn, +56% YoY. It plans to launch 22 property projects with total value of Bt22.4bn in 2H18. (Kao Hoon, 3/8/18)
PTG expects to book revenue from Jittamas food business in 3Q18, which is expected to generate revenue of Bt60mn per year. The oil business is entering a higher season in 3Q18. It expects oil volume to grow 20-25% this year. It is studying to acquire more food business to increase the contribution from nonoil business. (Thun Hoon, 3/8/18)
Comment: One thought came to mind, given that they have been leveraging to expand throughout the country and with these acquisitions, should interest rates domestically increase, how badly would this hurt their already thin retail margins?
SITHAI expects revenue to recover in 2H18 with rising orders from domestic and foreign markets. It expects revenue to hit Bt10bn this year. The company does not plan to list a subsidiary this year. It plans to take investors to visit its new factory in Vietnam on October 11-13. (Thun Hoon, 3/8/18)
SPALI subsidiary SPM is doing a tender offer to acquire 100% of MK shares from July 25 to August 31. Although Finanza Co., Ltd, one of MK’s largest shareholders, has declined to sell MK shares, SPALI says it is satisfied to become the second major shareholder as it would like to help improve MK’s operations. (Kao Hoon, 3/8/18)
SUN says new orders from abroad increased 20% and 3Q18 is its high season. It expects sales growth of more than 10% this year. It focuses on Japan and Korea customers. (Thun Hoon, 3/8/18)
TNR acquired Box Asia Group, a manufacturer and distributor of paper packaging, to use as a production base for condom boxes and reduce its packaging cost. (Kao Hoon, 3/8/18)
Comment: This formerly loved condom play has fallen far below IPO price. In the end its an OEM driven business.