CI expects revenue to reach Bt6bn in three years. It reported revenue growth of 15% to Bt2.7bn in 2015 supported by backlog of Bt3-4bn. It plans a deal with a China partner to set up a 5-star hotel. It plans to set up a Bt1.5bn REIT for Sripanwa Hotel in 2H16. (Thun Hoon, 1/3/16)
Comment: It’s a fairly straight forward story here for CI, they have the assets on hand to switch into the REIT, they’ve already done one (property fund) for Sri Panwa’s first phase of assets and it’s a basic continuation, doesn’t hurt that they have done a sharebuyback over the past 21-18 months either.

EA sets target revenue growth og 30% from Bt9.2 in 2015 supported by booking profit from a 90MW solar farm in Pitsanulok and COD of a wind power plant around midyear. It reported profit growth of more than 67% or Bt2.7bn in 2015. (Kao Hoon, 1/3/16)

EARTH will pay a dividend of Bt0.10/share, XD on March 14. It reported profit in 2015 of Bt1.03bn. Management target revenue growth of at least 10% supported by coal sales of more than 11mn tons. (Kao Hoon, 1/3/16)

ERW expects earnings in 1Q16 will be good supported by high season and occupancy rate up to 85%. It expects revenue growth of more than 15% in 2016. It has budgeted Bt1.7bn to open seven new hotels in Thailand and the Philippines. (Thun Hoon, 1/3/16)
Comment: We do wonder, in the future will ERW follow the footsteps of all the other major asset owners and decide to shift from being asset based to doing more management contracts

HMPRO budgeted Bt2bn to expand and hold its 23rd “Homepro Expo”, which it expects will support sales. It targets revenue growth of 15% from 2015, supported by expanding its customer base and economic recovery. (Thun Hoon, 1/3/16)

IFEC reported net profit in 2015 of Bt332mn, growth of 418%, on booking extra gain from restructuring its hotel business debt of Bt320mn. Revenue from sales and services increased 29.9% to Bt521mn. (Kao Hoon, 1/3/16)
Comment: Well yeah if you can recognise a lot of profit from accounting changes then why not.

ILINK targets revenue growth of 10-15% in 2016 on the expectation of a good year for business. It will know the results of its bids in June. Subsidiary “Interlink Telecom” will file for listing in March and expects to be ready to trade in 3Q16. (Kao Hoon, 1/3/16)
Comment: And just like anyone else, they’ve been hurt by the delays of government project.

JMART expects revenue growth of 30% in 2016, supported by sale of more than 1.5mn handsets. It plans append Bt100mn for acquisitions. J targets revenue growth of 30% supported by expanding rental space. It is studying entry into the property business and an acquisition. (Kao Hoon, 1/3/16)
Comment: 10x in 5 years, that’s their target, can they achieve it?

MTLS expects revenue and profit growth in 2016 of no less than 50% supported by expanding to 1,750 branches. It expects earnings in 1Q16 to grow 50%, supported by more loans. (Thun Hoon, 1/3/16)

PRIN reported 2015 revenue of Bt2.66bn, with net profit of Bt66.4mn (-10.86% QoQ) It expects revenue of more than Bt2.9bn in 2016. (Thun Hoon, 1/3/16)

PTG reported net profit growth of 33% to Bt651mn, achieving its targeted oil sales volume growth of 21%. It will pay a dividend of Bt0.20/share, XD on March 8. It targets revenue growth of 30-40% in 2016. (Kao Hoon, 1/3/16)

S Board approved increase capital by 1.62bn shares, with 1.22bn shares offered at rights of 14 old shares to 3 new shares and exercise price of Bt5 plus a PP of not over 300mn shares. It plans to use the funds to repay loans, as working capital and for land purchases by a subsidiary. (Thun Hoon, 1/3/16)
Comment: No surprise given their capex requirements, I wouldn’t be surprised to see more capital increases over the comign years

SCI to cooperate with PF and partners to expand utilities systems both in and outside Thailand. It is confident that revenue in 2016 will continue to grow, supported by its backlog of more than Bt1.6bn, with Bt1.2-1.3bn of that booked this year. (Thun Hoon, 1/3/16)

SIRI reported 2015 net profit of Bt3.5bn, up 3.32%, on revenue of Bt38.5bn, growth of 30.23%. The board approved a dividend of Bt0.12/share, XD on March 15. (Kao Hoon, 1/3/16)
Comment: With the president buying shares…it has thinking of SIRI part deux..(look @ 2012) but we don’t see the backlog this time to support it.

THAI reported a net loss in 2015 of Bt13.1bn, worse than the Bt15.6bn loss in 2014. It expects to open new routes in ASEAN and to bring back its Moscow flight. (Kao Hoon, 1/3/16)

TRUE has obtained a bank guarantee and is ready to pay the first payment on the 900MHz license worth of Bt8bn by March 10. It reported profit in 2015 of Bt4.4bn and is confident that revenue in 2016 will continue to grow. (Kao Hoon, 1/3/16) Thai telecom firm True 2015 profit surges, expands mobile market share — True Corp Pcl said on Monday net profit surged nearly two-thirds in 2015, boosted by rising income from its mobile business and a substantial drop in interest expenses. The company is due to sign a contract of credit guarantee facilities for the licence with banks on Tuesday. (Reuters, 29/2/16)

TSR reported net profit growth of 55.75% to reach Bt146mn in 2015 on total revenue of Bt1.6bn, up 43%. It will pay a dividend of Bt0.12: a stock dividend of 10 old shares to 1 new share and cash of Bt0.02. It expects revenue in growth of 30% in 2016, supported by setting up distributors in Laos and Vietnam in 2Q16. (Kao Hoon, 1/3/16)

UAC reported profit in 2015 of Bt94mn or growth of 84%. It will pay a dividend of Bt0.10/share, XD on April 28. The company is confident that earnings will continue to grow, supported by booking a full year of revenue from UAPC. (Kao Hoon, 1/3/16)
Comment: Fairly disappointing #’s out of UAC…

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