FPT: board approves disposal of 6 warehouses into FTREIT worth Bt 637m, expects to bk Bt 302m gains from assets sales.
Comment: We’re seeing figures that warehouses specifically HREIT (from WHA) are now beginning to see increases in their occupancy numbers as a result of Chinese companies moving to Thailand
MDX: reaffirms solid 2Q from contribution of 52.01% investment in 850mw pp (GMS), mulls to sell 216 acres land in EEC area worth Bt 2b to expand power business in Myanmar.
NVD: team up Christie’s international real estates to sell 50 remaining units of Banyan Tree Residence Riverside worth Bt 2.4b, target to boost sales from current 60% to 80% by end of year.
Comment: This project was supposed to bring in revenues of THB 6bn (its market cap) in the 1Q19, however the company has stated that they want to recognise sales over the year and not asap.
ROBINS: set Bt 200m budgets to upgrade Robinson Lifestyle Suphanburi to increase rentable area by 10k sq.m to 42k sq.m, target completion by December 6.
Comment: Their #s are symptomatic of the economic malaise in Thailand atm
TASCO: expects big jumps 2Q from strong asphalt sales vol and Bt 450m insurance claims from fire incident at asphalt depot.
TCMC: secured 4 carpet tiles installation projects combined 89.7k sq.m worth Bt 65m, kick-off transfer from 3Q.