ACG upbeats 3Q earnings from debut of 2 car dealerships in Phuket & Krabi and additional 5k sqm capacity from auto service center.

COL sees 3Q turnaround from wider margins and larger rev from housebrand stationary products sales.

LPN opens presales of Bt1b Lumpini Tower Vibha-Jatuchak (Tower B).

Comment: They have been struggling for 5 years now to generate the same sales as per the past.

MCS signs contract Thai Obayashi Corp to supply 6.7k tons steel module for O-NES tower pj adjacent to BTS nana station.

Comment: So has the owner bought back all the shares he sold when the share price was in the 20s? 

MJD’s firm on Bt11b presales, plans 2 condo pjs worth Bt3.4b.

MITSIB to branch out from Taxi hire-purchase to factoring loans to capture demand for liquidity & working cap from SME and contractors, expects to grant Pico Fin & auto loans operation license w/in 2mth, t/g cod in 4Q.

Comment: Another IPO flop and the new businesses are unlikely to have a serious dent on MITSIB’s #’s for the next few years

NWR m/t Bt18b new pj t/g this yr after achieved Bt9b in 1H, 55% of Bt14b backlog to realize this yr, expects to win additional TH-China rail pj from current Bt11b.

PTTOR, non-listed unit of PTT, in jv with KBZ group to invest in oil & gas depots in Myanmar to be ready in 2021.

PTT urges new Energy Min to float NGV and LPG prx.

SKE reaffirms rec high profit this yr >Bt110m driven by full qtr recognition of 9.9mw biomass pp in 3/4Q, full yr contribution on compressed biometane gas (CBG) station in Nakhonratchasima province, seek to expand station in Northeastern area away from pipeline, will finalize plan in Aug.

SORKON sets up a JV in Myanmar to operate a meat processing plant with Bt60m investment.

Comment: Cheap on asset value, but it’s never been able to go beyond its current business. 

SUPER sets subscription date for SUPEREIF from Jul 22 to Aug 5, max 515m units @ Bt10.

Comment: A decade later it happens!

TK to sell Bt400m CD to expand micro fin & vehicle HP in CLMV, will open 1st branch in M’mar in Aug, t/g 3 outlets by eoy.

  1. SUPEREIF SEC website says Prospectus available only in Thai language. When is this country’s financial industry going to move into the 21st century? Can I assume that the PTTOR Prospectus be available only in Thai language as well? I feel a certain frustration, being 23 years retired resident, but active investor.
    Thanks, Don,

    • Aside from the prospectus, you’ll find (and you probably know this) that everything else is mandated to be both in English & Thai. Thailand is actually ahead of most countries in these matters. And when I look at disclosure requirements, the US is incredible far behind Thailand’s. When will they catch up? :p

        • from one of my brokers:
          For SUPERIF, Bangkok Bank is the issuer. The price of SUPERIF will be 10.00 Baht per unit, minimum buy will be 2000 units. If you want to buy SUPERIF, you can buy it on 22-26 July 2019 and 30-31 July 2019 at any Bangkok Bank branches. When you buy SUPERIF, Bangkok Bank will be asking you where to install SUPERIF. You can put SUPERIF into you SCBS stock portfolio. After SUPERIF is in you stock account, then you can trade. By the way, I tried to search for so many sources, but I cant find any information of SUPERIF in english. But on the mentioned date, on 22 July 2019, the filling will be published or BBL(Bangkok Bank) staff would be able to tell you the information. Cheers, Don.

  2. Pon’s correct. Too may questionable aspects about the parent company (debt to equity is too high). and the major shareholders’ activities. To be honest, if current mgt has allowed shareholder listed value to drop by 50% in the past 13 months, you have to question the credit ability of mgt. Together with this gloomy climate at the SEC, I would not be surprised if this fails to perform, I was looking at speculating. Not so now Thanks for the heads up, Pon.

    • Don, just a couple comments, the current owners bought in a large stake at much higher prices than present, so they too are sitting a more losses than anyone,

      Super has exposure to major leverage risk and business risk given their large use of debt to expand and the fractured nature of their 1000mw generating capacity.

      The SUPERIF was supposed to alleviate alot of the leverage risk but the initial pricing of 9B was just too high for the income rights to only 137mw. So they settled for 5B and probably around 3.5B net proceeds if it gets fully subscribed and they keep 20% of the fund.

      It is a great short term trade stock, but it is not very suitable for long term investment.

      • And to close this…
        Some of my best returns have come from what we politely define as POS companies.
        You can make great returns on any asset, it just depends what price you pay for it.

        • So Mr Renewable has now done a number on Demco and Super, with both collapsing post his exit. We may be looking at a hattrick if he can gain control of WEH from KPN, take it public, and then exit again.

          • I was just thinking that…that KPN family has to be removed for WEH to go through…we had been hearing a potential buyer was lined up for June (which has obviously not materialised) and things have gone silent since.

      • Xavi: update from the SUPERIF prospectus (quote) ‘Offering units at 10.00 baht per unit, minimum subscription amount 2 , 000 units, multiples of 100 units each, which will allocate investment units in the form of Small Lot First’. I spoke with Bangkok Bank on last Friday. they were well informed, and had IPO summary handouts (wish I could read Thai); but wanted to sell me insurance first, ‘I get commission’. 555.

    • The SEC has nothing to do with the share price performance.
      The issue the sector faced was the changes in the PDP last year which effectively killed every small-mid size renewable energy players share price.
      SUPER has had its own set of saga’s as well.

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