BIZ signed a contract to sell cancer treatment machine, a Low Energy Medical Linear Accelerator, to Chonburi Cancer Hospital for Bt98.60 and contact period of 300 days. This raises its backlog to Bt1.36bn. (Thun Hoon, 16/1/18)
Comment: If that is the case and the firm maintains it’s NPM @ 10%, then its at 10x PE at the moment. Finally a small company that isn’t trading at crazy valuations
CKP targets 2018 revenue to grow by 15%, as it is going to book revenue from Cogeneration phase 2 power plant (BIC2), with capacity of 120 MW. It is researching on a project of hydro power plant in Laos, which it expects finalize in the mid-2018. It has budgeted Bt1.5bn to increase capacity in solar farm and Xayaburi project. (Thun Hoon, 16/1/18)
CPT expects 2018 revenue to grow by at least 10%. It got a new project at the beginning of 2018. It is going to sign contracts for four projects for Bt140mn, all of which will be booked as revenue this year. (Thun Hoon, 16/1/18)
DTAC has budgeted Bt100mn to invest in 12-13 start-ups. ZmyHome, website to buy, sell and rent property from Dtac Accelerate Batch 3 project, has recently received investment funding of US$400,000 from a Japanese fund, the KK Fund. (Khao Hoon, 16/1/18)
Comment: If you look at the evolution of the start-up space in Thailand you will see that it was the telco’s that started this.
INGRS is hastening to improve technology to support EV and SUV markets and plans to find a partner to fully penetrate into Vietnam and India. It is going to receive revenue from full-year car production of Bt1.1bn and expects earnings will recover. (Thun Hoon, 16/1/18)
PTT views 2018 crude oil price will move between US$54-55/barrel. It says it will continue to push the usage of biodiesel (B10) following government policy. It projects benzene sales will grow by 10-20% from 2017. (Thun Hoon, 16/1/18)
RS expects health and beauty revenue will skyrocket within three years. It has launched a new business, Lifestar BIZ, in order to support the expansion of Lifestar, now with 700,000 customers, which it expects to more than double 1.5mn by the end of 2018. (Thun Hoon, 16/1/18)
Comment: We’ve played around with the financial models to see what RS has to achieve to maintain its currently valuation and well…their beauty business will have to grow by 5-7x, then again if you just apply the multiple from BEAUTY and DDD to their health and beauty business then where it is today isn’t totally farfetched…
SPALI targets 2018 presales to reach Bt33bn and plans to launch 35 projects worth Bt40bn. It says it will launch a project overseas this year. It also targets 2018 revenue of at least Bt26bn on backlog of Bt39.8bn, of which Bt10.9bn will be booked as revenue this year. (Thun Hoon, 16/1/18)
WHA plans to acquire a logistics business in Malaysia, which it expects to finalize in 1H18. It plans to raise 2018 revenue by 25% after all of its businesses are growing and targets land sales of 1,400 rai, backed by EEC. WHAUP is going to take over a solar farm in Japan in 1Q18. (Khao Hoon, 16/1/18)
Comment: If there are any delays in the EEC…WHA and AMATA stock prices are going to be hurt.