BSM expects revenue of more than Bt1bn, up sharply from 2018 expected revenue of Bt640mn. It will enter into the property development business and plans to launch one project each quarter with value around Bt350-400mn per project. It will focus on Central Business District (CBD). (Thun Hoon, 17/1/19)
Kittiphun Anutarasoti temporarily suspended as CIMBT’s CEO until March in order to prepare and defend accusations by KTB about loans to EARTH. He has already appealed to the BoT to be mediator and verifier. (Thun Hoon, 17/1/19)
Comment: How deep does this go?
EGCO completed the acquisition of 49% shares in 1,823MW Paju ES power plant at a cost of Bt26.2bn. (Kao Hoon, 17/1/19)
IRPC announced the appointment of a new CEO, Mr. Noppadol Pinsupa, replacing Mr. Dukrit Surabotsopon. He will start work on Feb 1. He targets to make the company a leader in the petrochemical business in Asia within 2020. (Kao Hoon, 17/1/19)
IVL buying again. It has budgeted Bt2.58bn to purchase shares in IRSL, a polyester manufacturer in India. It already spend Bt1.44bn to buy the shares and the rest will be used for a tender offer. It expects to complete the deal with in 2Q19. (Kao Hoon, 17/1/19)
Comment: Ok I will just refer to IVL as Cookie Monster from now on.
JKN plans to produce Siam Ramayana series. The decision will be made this year. Management expects revenue growth of 15-20%, supported by increase in content sales and customer expansion. (Thun Hoon, 17/1/19)
Comment: Share price has dropped below its IPO price.
LH targets presales of Bt37bn this year with current backlog of Bt10bn. It expects revenue of Bt6bn and it Bt56bn in properties ready to be transferred. It will launch 16 property projects with total value of Bt30bn this year. (Kao Hoon, 17/1/19)
PTG expects revenue to be a record high at Bt150nm. It targets gas sales volume to increase by 5bn liters and it expects marketing fee to be better. It has set capex of Bt3.5bn to add 200 gas stations and will continue to move into more non-oil business. It expects an acquisition deal to be concluded this year. (Thun Hoon, 17/1/19)
Comment: This number can’t be correct for PTG’s revenue. But all time revenue highs are to be expected, the questions on peoples minds I believe are now 1) Marketing margin recovery? 2) How are the non-oil businesses performing? 3) What is going on with this palm business?
SANKO working hard to control cost. It is working to reduce waste and widen margin to 17-20%. Management targets sales of Bt600mn this year; it expects more orders and will quickly add production capacity if needed. (Thun Hoon, 17/1/19)
Fiscal Policy Office (FPO) rejected TCAP request to transfer tax exemption for acquisition of TMB. The deal must comply with defined rules, it said. About the request for a capital increase, TCAP must ask the cabinet for approval first. If TMB shares are not diluted, the FPO may accept the proposal. The Finance Ministry says there has been no contact from TMB. (Kao Hoon, 17/1/19)
Comment: This is a mess of a deal and news, I’m not entirely convinced that either institution wants this merger to happen.