AAV
Management is confident there is no impact from ICAO. There is no suspension for any AAV scheduled flights with regards to the ICAO issue. (Thun Hoon, 24/06/15)
Comment: AAV’s core growth market is China, as long as China is ok then it doesn’t matter what ICAO says.
AIRA
AIRA shareholders approved raising capital by 3,160 shares at rights of 5 old shares to 2 new shares priced at Bt1 with AIRA-W1 and AIRA-w2, XR on June 25, selling period on July 10–July 16. The objective of this capital increase is to invest in subsidiaries and for future projects. (ASTV, 24/06/15)
Comment: Must be a typo by the news, 3,160 shares? 
AMATA
AMATA targets sale of 1,000 rai this year. 2015 revenue from selling land is expected to be higher than 2014’s Bt5.34bn thanks to higher average selling price of approximately 3%. It plans to set up a subsidiary with Sodexo. (Khao Hoon, 24/06/15)
ANAN
ANAN and Mitsui have partnered to launch five condominium projects via five subsidiaries. It expects Bt10.5bn in revenue this year. (Thun Hoon, 24/06/15)
Comment: And they have sold all of those projects out

BAY
BAY is focusing on corporate loans, aiming at 6% loan growth. BAY and MUFG plan to introduce more financial products to raise client business opportunities. (Thun Hoon, 24/06/15)
Comment: According to insiders, with the new Japanese management things are taking far longer to execute.
CFRESH
CFRESH expects  performance to recover in 2Q15 with sales of Bt1.87bn (6% growth) and Bt96mn net profit (124% growth) thanks to seasonality. (Khao Hoon, 24/06/15)
CK
CK has raised its 2015 revenue target from Bt35bn to Bt40bn after booking 1H15 revenue of Bt2bn. CK will book extra profit, worth Bt1.2bn from selling 30% of Xayaburi share to CKP in 2Q15. (Post Today, 24/06/15)
GUNKUL
GUNKUL’s board has approved investment in three  power  plants: Bt6.33bn in a wind power plant by Greenovation, Bt3.53bn in GK Sendai solar power plant in Japan and Bt276mn in Infinite Alternative Energy shares. Asset Pro Management is the financial advisor. (ASTV, 24/06/15)
Comment: And that’s an impressive move by GUNKUL, however don’t be surprised to see a future capital increase
INTUCH
Management says INTUCH is dealing for a JV worth than Bt200mn. It is confident there is enough cash on hand to use as funding. (Post Today, 24/06/15)
IVL
2Q15  profit is expected to surge to Bt2.27bn (+53%), supported by a stock reversal and potential acquisition. HSBC has approved US$100mn in loans to purchase a 600,000-ton PTA plant. (Khao Hoon, 24/06/15)
Comment: Every petrochemical company will report a decent 2Q
JAS
JAS announced a buy-back of 142mn shares to decrease capital. It will be XW on June 25, at a ratio of 2.04 old shares for 1 warrant. (Khao Hoon, 24/06/15)
Comment: And yet the stock price still catered, its a POS company with some of the worst cash flows you’ll see.
KTC
KTC is concerned about credit card growth because of a slowdown in purchasing power. It targets 400,000 new credit cards this year but achieved only 120,000 in the first five months. It plans to urge revolving credit in the high end segment. (Than Setthakij, 24/06/15)
Comment: Once a great turnaround and operational improvement story, KTC now is more of a steady value play. 
RCI
RCI is confident it will achieve target of 8-10% sales  growth in 2015 backed by robust performance in 2H15 backed by economic recovery. Its new strategic plan is introducing more valued added products which it expects to raise revenue. RCI is ready for AEC. (Thun Hoon, 24/06/15)
SEAFCO
SEAFCO expects to get Bt200mn foundation pile job in Myanmar which is expected to be finalized in July. Its backlog is Bt970mn which will be booked this year. It expects to add Bt2bn in new jobs. (Thun Hoon, 24/06/15)
Comment: Can the best foundation piling co in Thailand do the same in Myanmar?
SMT
SMT expects 2Q15 revenue to be close to 1Q15’s but expects to recover in 3Q15. It expects a net profit this year. It plans to eliminate retained losses and pay a dividend for the first time in 3-4 years. (Khao Hoon, 24/06/15)
Comment: Something that local punters will love, but I’m still not totally convinced on this company’s turnaround
TUF
TUF plans to raise capital via PP. It will use the funds to pay for the purchase of Bumble Bee. (Thun Hoon, 24/06/15)
  1. I own INTUCH shares. I read recently the Thai government was preparing to enter the satellite business in the not to distant future . If the government does goes ahead with its plan, what sort of long-term negative downside will this have on INTUCH? Have you read or heard anything about this yet?

    • I have a large chunk of intuch shares in my portfolio also, Thcom makes up a very small part of their total value around 5% so any impact will be negligible. My real concern is the clowns at the Nbtc or ncpo will find some way to stuff up the 4g auctions rendering them either void or further delayed which will be devastating to Intuch..

      • @ Tony – See Xavi’s comments, he’s spot on; INTUCH basically is a cheaper option to have access to ADVANC’s dividends
        @ Xavi – It won’t be devastating, never has been, just postpones the growth path. And really does give us short term buying opps.

        • Pon, may I ask why there is such a huge discount for intuch to AIS given one is basically a derivative of the other? I read somewhere that it has something to do with unrealised tax liabilities on the balance sheet? That gap at times has widened to almost 20%…

          • Another reason is ROE: 90%+ for ADVANC vs 60%+ for INTUCH.

            I’m left holding just THCOM now, waiting for it to pop next year at the earliest. Not very interested in the rest of the ICT sector, but TRUEIF and SYMC are my other long-term plays.

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