BJC subsidiary BJIHK purchased Vina Paper Joint Stock Company for Bt482.66mn from Diana Unicharm Joint Stock Company, entering the paper production and sales business in Vietnam. It believes this acquisition will strengthen its already fundamentals. (Thun Hoon, 25/9/17)
CPN is going to book Bt3.5bn insurance compensation for Central World’s fire, which will substantially increase 3Q17earnings. (Thun Hoon, 25/9/17)
Comment: Great 1 time recognition for CPN.
FTE has adjusted revenue growth target to 20% after achieving backlog of Bt450mn. It is waiting for the results of a bid for a Bt200mn project for EGAT, of which it expects to receive 65%. It also plans to set up a foreign distributor. (Thun Hoon, 25/9/17)
GLAND is launching the Bt1.4bn Belle Grand Rama 9 project. It expects this project to sell out this year. It is launching a joint venture project, Super Tower, and plans to partner with BTS to launch a project in Paholyolthin district, which is expected to execute in 2018. (Thun Hoon, 25/9/17)
Comment: The Super Tower was supposed to be finished by 2019 when they first announced it 2 years ago, delayed, this piece of land at Phaholyothin, I suspect they’ll likely just sell off blocks
ILINK is going to bid for a Bt3.9bn project and expects to increase backlog from Bt1.56bn. Its business high season is also supporting the good outlook for 2H17 revenue. It expects to achieve 15% revenue growth YoY as client portfolios have been expanding. (Thun Hoon, 25/9/17)
LPN prepares to launch three new premium condominiums worth Bt5bn. It plans to launch the first one on September 30 and targets the high-end market. It also expects to increase backlog to Bt7-8bn, which will supply revenue until 2020. (Thun Hoon, 25/9/17)
Comment: LPN going upmarket? That is something odd to see. It just goes to show the weakness in the low-income customer segment for the property industry or the increased competition, or both..
QTC bought a solar power plant, L Solar 1, and is going to book revenue immediately in 4Q17. It says it will continuously expand in the energy business in order to build confidence and a strong revenue structure. (Thun Hoon, 25/9/17)
SCC gains Bt1bn profit from selling Tien Phong Plastic (NTP) in Vietnam. It made the sale after seeing no synergy from the acquisition. (Khao Hoon, 25/9/17)
SKN will trade in the market on September 26. It plans to use IPO funds to pay off loans, expand production capacity and as working capital. It says the MDF factory in Rayong is ready to expand production capacity to 500,000 cum per year in response to the increase in demand. (Khao Hoon, 25/9/17)
THCOM is going to book extraordinary gain of Bt1.36bn from selling 42.07% of its holding of CSL to ADVANC for Bt7.8/share. This will substantially increase 4Q17 earnings. (Thun Hoon, 25/9/17)
Comment: Could you imagine if/when this name will turnaround? What could drive it? Working more close with the government for IPSTAR?