CBG struggles to control costs. It cut expenses in subsidiary ICUK. It is focusing on increasing revenue in the Australian market with minimum sales of Bt100mn. As for market strategy in Thailand, it is focusing on marketing through “Cash Van” and “cheer ladies”. It expects this strategy will grow its sales by 10% next year. (Kao Hoon, 11/10/18)
Comment: Other than Cambodia, this management team can’t figure out how to do international business.
CK is preparing to bid for mega projects with total value of nearly Bt1trn. It is joining with BEM and CP group to bid for the three-airport high-speed railway project worth Bt236bn. Next year, it plans to bid for U-Tapao airport, expressway and monorail construction projects. (Kao Hoon, 11/10/18)
Comment: So the lines are set, which big families will win? BTS + STEC vs CK & CP
COM7 changed its plan. As the new iPhone was not as popular as hoped, leading Apple to cut production, it has increased orders of other brands, including Vivo, Oppo, Samsung and Hua Wei. It expects 4Q18 results to be good, supported by customer expansion. It targets revenue growth of 20% this year. It believes that the opening of the first Apple “App Store” in Thailand will be a benefit. (Kao Hoon, 11/10/18)
Comment: So the iphone trade is over? Will the share price and business of COM7 go the way of JMART?
EASTW signed a 30-year contract worth Bt3.5bn with Amati City Rayong to sell water. It will construct a potable water production plant with total production capacity of 100K cubic meters per day at the beginning of next year and will begin to book revenue in May 2020. (Kao Hoon, 11/10/18)
MTC’s CEO will lead its management team to do a road show in Singapore and Hong Kong Nov 23- 26. It expects to increase foreign fund shareholders to 11% from the current 9% with total capital of Bt2bn. It targets minimum loan growth of 35% next year, supported by spending during the election. Its shares will be included in the MSCI index on Nov 30. (Kao Hoon, 11/10/18)
PSTC’s board approved investment in an oil pipeline transportation system in the northeast worth Bt9.2bn. It expects Bt1.5bn revenue each year with minimum IRR of 12% and breakeven in 13 years. (Thun Hoon, 11/10/18)
PTTEP expects oil sales volume to reach 320k barrels/day next year. It will book full year equity income from Bongkot gas field in 2019. It is bidding for gas fields in UAE and Malaysia. The results will be known early next year. (Thun Hoon, 11/10/18)
SIRI will launch one condominium worth Bt1bn this year. It has budgeted 1.3bn to set up a precast factory to increase production capacity. The new factory is expected to complete at the end of next year. (Thun Hoon, 11/10/18)
TAPAC notified the SET that it has set up Kerse, a real estate company. It is joining with SPALI to launch a property development project in Phuket worth more than Bt1bn. The new project will open for booking early next year. As for plastic parts manufacturing, it expects sales to hit its target. (Thun Hoon, 11/10/18)
Comment: Say what? A plastics part manufacturing co…doing real estate…diworseification
TRT targets revenue growth of 10-20% next year. It plans to bid for projects with total value of Bt12.24bn and expects to be awarded Bt3bn. It expects earnings to turn around this year after working to control cost. Backlog is Bt1.6bn and Bt1.1bn of backlog will be booked as revenue in 4Q18. (Thun Hoon, 11/10/18)
Comment: It’s been a long time since this name has been in the news. Historically a stable straightfwd business.