Government to hold meeting today to assess strategy to deal with rising oil price, may consider raising natural reserve to >60d currently and look for ways to delay paying subsidies to oil traders to preserve state oil fund’s cash.
Comment: Not company news I know, but these fukwits rejected the opportunity to buy more oil and to reduce the tax on oil to consumers in 2020.
BANPU expects FY22 rev >Bt134b last year from higher coal ASP, some of forward selling contract logged close to US$400/t while hedging capped at 50% should enable co to cope with price swing, mulls invest in Nickel mine in AU & Indonesia to secure feedstock for battery business.
Comment: Numnuts. But ok, they are going to benefit regardless, realise that their major sub is in Indonesia, which had banned exports in Jan and will probably do it again 1 more time later this year. Domestic prices in Indo are now USD 200/ton.
PRINC upbeats 1Q earnings from strong OCC at hospitel unit, additional capacity from newly added 800 beds tally total to 3,300 beds, new hospital in Srisaket province turns breakeven, firms on 40% revenue growth target >Bt6.8b.
PTG maintained 15-20% FY22 EBITDA growth target, expects fuels sales volume growth +8-12% yoy from 5m liter in FY21, LPG sales volume growth +50-60% yoy on absence of virus curbs, non-oil +80-90%, sets Bt4b capex to add 80-100 stations, expand non-oil & new business to reduce earnings volatility.
Comment: They have to somehow ramp up the non-oil portion faster. You can see how badly squeezed the retailing margins are at prices this high. Though should oil prices crash = PTG’s margins will look amazing during that drop.
STPI expects to secure O&G EPC projects on jump start investments, 40% of Bt4.7b outstanding backlog to realize this year, firms on 10% revenue growth target.
Comment: Ahaaaaaaaa O&G service providers coming back into the spotlight? I’d love getting a global basket of these names, they’ve all been pummeled since the peaks in 2013.
TM sees record high revenue this year >Bt700m, +10% yoy supported by ATK, PPE, disposable med supplies & sanitizing products, tailwind from health supplements TM herb and online sales via TM care shop, elderly care unit (The Parents) to cod 3Q22.
TPOLY wins new construction projects for Wattanapat Samui hospital building total Bt200m.
VIBHA acquires 10% stake of Thonburi Rangsit hospital for Bt270m, THG will hold 30%, RAM 40% & Group Dr. Noppasin Takerngdej 20% post transaction.
Comment: That explains the pump in THG