KTB to send legal officers to investigate EARTH after it filed for bankruptcy with the Central Bankruptcy Court with total debt of Bt47.5bn, higher than its assets of Bt31.8bn (Bangkok Biz, 1/8/17)
Comment: “Where did our money go krub?”
FTE signals brighter 2H17 earnings, driven by private and public projects with total backlog of Bt435mn. It plans to expand to CLMV. (Thun Hoon, 1/8/17)
GLOBAL signals outstanding 2H17 earnings, driven by sales of its private brand that has expanded margin. It plans to hold a promotion to stimulate sales this year and is looking to add 2-3 new stores. It expects to have more than 54 stores in Thailand by yearend. (Thun Hoon, 1/8/17)
Comment: Wouldn’t the floods hurt their sales?
GLOW posted 2Q17 earnings of Bt2.8bn, +2.5%. 1H17 earnings are Bt4.7bn, down 14.1% due to lower sales to EGAT. (Thun Hoon, 1/8/17)
ITD reports backlog of Bt175bn, with a steady addition of new projects. It just got the Huahin – Prachuab dual-track project worth Bt7.3bn and expects to sign the contract in August. It is going to join all bids/auctions. (Thun Hoon, 1/8/17)
Comment: They won with a bid 20% below the price…I have my fears for the quality of this project.
ORI announces JV with Nomura Estate or NRED. It targets 2017 sales of Bt14bn with revenue of Bt9bn. It plans to launch 12 projects worth Bt18bn. It targets 5-year (2018-2022) revenue to reach Bt30bn. (Thun Hoon, 1/8/17)
Comment: ORI and ANAN seem to be the most forward looking property developers in Thailand.
Templeton Fund’s Mark Mobius believes in investing in PACE. He says the company has the ability to grow. (Thun Hoon, 1/8/17)
Comment: Well yes, their Thailand fund has a 1.6% holding in PACE. Still think that PACE is bankrupt unless a magical chinese investor appears
SAMART’s business is in a growth period. Subsidiary TEDA got a new project worth Bt298mn. (Thun Hoon, 1/8/17)
SAPPE expects sales to recover, driven by orders from both Thailand and abroad. (Thun Hoon, 1/8/17)
Comment: We have our doubts..
SUPER is negotiating with a partner to invest in power plants abroad. It expects clarification soon. It is going to book revenue from a 30MW solar farm in China within 3Q17. (Thun Hoon, 1/8/17)
Comment: They need the $ first before they can do anything. If there’s no infra fund then nothing will happen for this company.
TPIPP to invest more. It just bought 15% more in TPI Polene Power Investment in Cambodia, giving it 100%. (Khao Sod, 1/8/17)