GLOBAL
GLOBAL’s 2015 net profits grow 20% from last year’s Bt701mn, driven by numerous orders. It targets 2016 revenue to grow 10%. A plan to invest in Myanmar will be finalized within 1H16 (Thun Hoon, 17/2/16)
Comment: And yet they still have one of the worst inventory turnover’s I’ve seen…

KCE
KCE’s 2015 net profit was Bt2.24bn (+6.2% YoY) with sales growth of 10.3% to Bt12bn. 4Q15 net profit was Bt630mn, hitting a new high. (Khao Hoon, 17/2/16)
Comment: No surprise if you’ve been following this company for the past few years..

KTC
KTC expects to see 2016 financial performance to be in line with 2015. NPL is expected to reduce to 2.1%. It plans to do business aggressively to boost market shares. (Khao Hoon, 17/2/16)
Comment: We’ve said this since last year, the issue for KTC now is no longer operational, its sales, growing revenue and I doubt that they’ll be able to do more than 2x the industry growth rate unless they shift into other products.

MAJOR
MAJOR looks more to non-film revenue – MAJOR will renovate some of its cinemas nationwide in a bid to achieve almost 12% revenue growth from group bookings and events. It expects 11.8% growth in group bookings to Bt190mn this year. It believes this business has great potential despite contributing only a small proportion of total ticket sales. (Bangkok Post, 17/02/16)
Comment: I’ve always liked this company, perhaps for the first time in a while it may be time to relook at it if they can monetise their assets better..

MINT
MINT said that BTL will do a cash call. MINT will hold 94.99% (Thun Hoon, 17/2/16)

NOK
NOK: We mismanaged pilots – Mismanagement of pilots and other internal problems have rocked NOK, resulting in Sunday’s chaos at Don Mueang airport, CEO Patee Sarasin has admitted. The government, meanwhile, issued a warning to Nok Air and threatened to suspend and revoke its operating license if such an incident happened again. Patee said the airline is undergoing a restructuring of its flight operations in compliance with the IATA’s operational safety audit. He said the restructuring will separate the roles of pilots and management, negatively affecting pilots who currently hold dual positions, adding that the airline is facing a critical shortage of pilots and copilots for its average 1,600 flights per month. (Bangkok Post, 17/02/16)
Comment: Well….there’s a reason the stock price has collapsed since IPO..

PLAT
PLAT 2015 net profit Bt630mn (+44% YoY), driven by recovery in tourism. 2015 revenue was Bt1.7bn (+22%YoY). (Khao Hoon, 17/2/16)
Comment: PLAT’s story is going to be purely around their new assets over the next 5-10 years. The only question is when will they do it.

PTT
PTT plans to invest Bt210bn in building gas pipelines and in its LNG business to serve higher demand in the future. It also plans to negotiate with Petronas to do LNG business. (Thun Hoon, 17/2/16)

SMG
SMG will be delisted since It was bought by ACE Group. It might be renamed CHUBB. (Khao Hoon, 17/2/16)

SPRC
SPRC 2015 net profits Bt8.23bn, rising from last year’s net loss of Bt6.36bn. (Thun Hoon, 17/2/16)

SSI
SSI rehabilitation plan ‘almost ready’ – The business rehabilitation plan of SSI will soon be finished, says SCB, one of SSI’s major creditors. “We expect to finish the plan in March,” SCB’s CEO told the Bangkok Post after the SET suspended trading in SSI yesterday. (Bangkok Post, 17/02/16)
Comment: Hey K. Arthid, we all know you pushed for the loan deal that cost the bank 1/2 of a year’s profits. How could he still be in charge? If this was any other bank within the developed world shareholders would’ve kicked him out in an instance.

TSTH
Loss-ridden Tata Steel upbeat on profit outlook – TSTH expects its 2015-16 fiscal balance sheet to return to the black after suffering losses for several years. President and CEO Rajiv Mangal said steel demand and prices bottomed out late last year. But rising demand at home from government infrastructure projects as well as in ASEAN are likely to help prices rebound, he said. (Bangkok Post, 17/02/16)
Comment: I’ve been waiting for this turnaround since 2010…and i still don’t think its going to happen!

    • Exactly: BBL and any other banks whose managements don’t drink breakfast. The consequences are worth considering in connection with other very large conglomerates which were too big to nail.

      • What I don’t understand is why they are even considering this. JAS has no customer base, no experience and no network, basically starting from scratch. What will the collateral even be considering JAS is only “valued” at half of the loan amount. Will they pledge their IF shares?

        • Well BBL did come out saying that they were willing to support THB 40 bn and I suppose that was on the basis that JAS did have a potential partner.

          JAS doesn’t have the $ for this…unless they pull a magical rabbit out of their backsides no one sees how they will be able to pull this off.

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