BGRIM eyes 3,000MW gas-fired PP, while GULF target wind, solar and LNG to power, and SUPER for Bt250MW wind Powerplant, following a new 150,489MW VN power development plan.

Comment: What’s amusing is that yesterday, gulf themselves said that wind & solar are unreliable power generators…

CK upbeats FY earnings visibility from Bt140b construction backlog pending to realize, higher contribution from BEM from higher tollway traffic & MRT ridership.

IHL sees growth this year on higher upholstery orders, launches Momo & Friends pet-food, distributing thru modern trade channel.

MAKRO sees double digit revenue growth in sales at Lotus branches in tourist towns in 2Q, single digit growth at Makro wholesale, sets Bt20b capex to ramp up branch expansion on optimism post-election.

Comment: Still stupidly expensive, still has an awful float, still has a questionable balance sheet, but they don’t have any real competition.

MINT sees solid 2Q, despite low seasonal, thanked to recovery in TH & EU hotel operations, double digit growth in TH food biz, firms on 12-15% revenue growth target, sets Bt10-13b capex p.a. over next 3 years, 71 new hotels with 13,207 rooms total.

Comment: And they are buying out the remaining shares of the listed NH hotel entity (6% free float) which is odd…I thought they would sell equity in order to strengthen their balance sheet…

RBF sees recovery in 2Q, on exports and lower costs, boosting GM, sees higher growth momentum in 2H, firms on 15-20% revenue growth target this year.

Comment: Curious if we’re seeing a bullwhip effect here, saw it in the equivalent player in the Philippines.

SFLEX mulls tapping in med soft packaging segment, aims to expand segment coverage from food, personal care & consumer products to boost sales & margin, seeking holders approval to invest up to 25% of Star Print Vietnam Joint Stock CO., (SPV) in Jun, sees upside from SPV key clients including Uniliver, Colgate, Nestle, P&G, Heineken, Crayola, Mondelez and Walmart.

TASCO expects 8.3% sales growth this year to 1.3m tons, on higher sales in domestic mkt, China and Indochina, from 1.2m last year.

TCMC expects revenue to be stagnant this year due to unfavorable global econ outlook. It reported Bt466m 1Q23 revenue, vs Bt680m in 1Q19 pre-pandemic.

Comment: Doesn’t matter, this company is a poor performer and poorly managed.

TOG target 12% FY sales growth yoy >Bt3b driven by new clients from middle east, Africa, NZ & AUS, new Rx lens production line to start from 3Q, sets Bt800m capex to add solar rooftop, invest in lens casting & IT to accommodate larger orders.

Comment: Unlike TCMC, TOG has been consistent in their business model and have successfully and continuously expanded since I first met them in 2006.

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