CPW maintained 20% FY21 revenue growth target supported by new IT & gadget products launch during the year, larger contribution from online sales, wider margins from IoT & smart home products.

Comment: A C-grade version of COM7

ECF sees recovery in furniture mkt on seasonal and weak THB, while Minbu solar PP in Myanmar have started to contribute, 20% stake, and 3rd and 4th phase are expected to complete by end of 2022, keeps 10-12% revenue growth target this year.

EFORL sees solid 2Q from medical equipment sales, Oxygen high flow and rapid test kits, worth >Bt500m.

Comment: This is a proven to be rubbish company over the past decade when it first came to my radar. Unless there’s a change in business/owners, treat every news from it as an attempt to pump it.

GLOCON’s firm on profit in 2Q, thanked to WFH trend, confident that FY21 would see 30% growth in revenue to >Bt2,100m.

GROREIT: Grande Royal Orchid Hospitality REIT with Buy-Back conditions, debuts IPO 315m units at Bt10 apiece, ONEAM is Fund manager.

LH to launch 8 horizontal pjs in 2H21 worth Bt5-6b, boosting this year presales to Bt28b, firms on Bt30b revenue target this year, supported by Bt7-8b ready to transfer.

Comment: They are still the real estate king of Thailand, consistent earnings over the past decade. A few years up/down due to market share shift in the condominiums when new firms pop up.

NOBLE expects to wrap up building acquisition in Manchester within 3Q, will stretch overseas investment to 25% of portfolio by end of FY24.

Comment: Wow.

RS teams up OTT TV partners including WeTV, AIS Play to supply contents, series, varieties, sports via VDO streaming, aims to broaden viewership with domestic & international allies, strengthen income and reduce reliance on particular source of income.

STGT anticipates rubber gloves demand accelerate from rapid spread of Delta variant, expects another record high profit this year.

Comment: This is amusing news, the company allocates its inventory to sellers, and they lock in the volume/price sold for 1-5 years depending upon the size of the order and therefore there is not going be any impact on this years profits inspite of the curry version of the wuflu.

Edit Comment 22/07/21: Had a few emails/phone conversations about this. Thus I’m going to correct the comment. “The company does allocate its inventory/capacity to agents/sellers whom have a contract to fulfil a certain amount of volume annually. The price is determined by the company’s internal pricing mechanism which can change. In addition to this the company does have a fast-track business (no idea what % business this is), where they will sell on spot prices which are typically 15-20% above market. Now the agents can resell their allocation to other agents and create their own pricing above what the company sets, and profit themselves. And therefore the company MAY benefit from this recent situation due to the fast-track business segment.

TM seeks permit from FDA to sell Rapid Antigen Test kits, target Bt50m in sales, boosting overall this year to Bt650-700m.

Comment: Another one joins.

VGI signs shares subscription agreement with Fanslink to obtain 51% of the co, for Bt306m, aims to expand e-commerce channel, access sources of IT & gadgets products from China and its own brand, Pando Selection.

Comment: Not sure that retail is the best move for VGI, but ok.

XPG: Viriya Insurance raised holding to 9.38% of total outstanding on July 16

Comment: Let’s see how this unfolds…

ADVANC, DTAC, and TRUE announced closure of its service centers in shopping malls until Aug 2, as malls are ordered closed in latest measures.

  1. XPG; they are rather quiet about their plans; just generic commentary at website. in case you missed it, there is a rights issue, coming up shortly. register has closed. If the rights do trade, it could be fun. XPG is the only Thai equity I have left. I moved everything into Crypto, for a better FX exposure (US$) to what will continue to be a weakening baht.

    • Sure fun times could very well come.
      I know the key players, I know their gameplan.
      Though a supposed USD 600 mn valuation, which may become a USD 2 bn valuation for a company that “may” be successful in an industry that is still in its infancy, natural to have some question marks.

      Edit: And if you wanted to play this trend, Overstock in the US is the one to look at.

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