Thai AirAsia’s load factor slides in Q2 — Thai AirAsia (TAA) carried 16% more passengers in the second quarter but the growth lagged behind its 23% rise in capacity. Thailand’s largest low-cost carrier recorded 2.8mn passengers between April and June when it had 3.6mn seats. TAA’s load factor was 78%, down from 82% in the same period last year, due mainly to Thailand’s political unrest that led to a slowdown in inbound tourists. (Bangkok Post, 06/08/14)
Comment: Every quarter will continue to improve for AAV (and all the other airlines as well)
Shareholders approve bond issue — BGH’s shareholders approved the issue of a convertible  bond worth Bt10bn to foreign investors. President Prasert Prasarttong-osoth is keeping his target of 50 in 2015. (Kao Hoon, 06/08/14)
Comment: Again I don’t quite understand why they need to do a convertible bond. 
Berli Jucker lines up Metro – German retailer Metro AG is in advanced talks to sell its cash-and-carry unit in Vietnam to Thailand’s Berli Jucker Plc (BJC) for more than US$500mn, The Wall Street Journal reported yesterday. Europe’s fourth-biggest retailer opened its first cash-and-carry store in Vietnam in 2002 and now operates 19 stores across the country with around 4,000 employees, generating sales of US$692mn in the 2012-13 fiscal year. (Bangkok Post, 06/08/14)
Comment: Will comment on this shortly, maybe BJC would have to raise capital.

CSL confirms 2014 revenue growth since its main business is in the ICT segment. It 2Q14 results hit target; results are expected to be released on August 7. The company said that although 1H14 performance was good, 2H14 will be better. It will open a new data center on Aug28.  (Kao Hoon, 06/08/14)
CSS interested in investing in renewable energy at home and abroad. It is studying a solarfarm in Japan and is finding land for construction. It expects total capacity of 10MW or Bt1bn investment and will gradually set up capacity of 2MW. The deal is expected to be concluded this year. (Post Today, 06/08/14)
Comment: It is interesting how Thai firms are able to compete in the solar market in Japan, people don’t realise this yet perhaps, but Thailand is the largest solar market in SE Asia.
KCE reports outstanding 2Q14 results with net profit at Bt478.9mn, up 142.5% YoY and sales at Bt2.82bn, up 24.6% YoY. This is the fourth consecutive month of record-breaking profit and sales. It will pay an interim dividend of Bt0.40/share. It expects continuous growth in earnings in 2H14. (Kao Hoon, 06/08/14)
Comment: And the growth will keep on coming for KCE
KTC expects 15% YoY growth in credit card spending though growth was 6-7% YoY in 1H14. It expects economic recovery in 2H14 and peak credit card spending in 4Q14 will support 2H14 performance. It has launched a new marketing campaign, KTC Total 100 Wellness For A Better Life, focusing on health-conscious people. (Thun Hoon, 06/08/14)
Comment: Missed the second time around, my own fault, silly pride. 
Arrest warrant for MD — Thonburi Criminal Court issued warrant of arrest for MD Sittichai Leeswadtrakul. He is charged with receiving stolen property; he did not report to the court and escaped to a foreign country. The suit will mature on 10 August. (Kao Hoon, 06/08/14)
Comment: Well then, around stock to add to the blacklist.
More investor interest — The CEO of PACE, Mr. Sorapoj Techakraisri, says investors are showing more interest in PACE thanks to increased confidence in its business, supported by backlog of more than Bt7bn. This has led to the recent surge in the share prices. The company is also aiming to set up a REIT with asset, Mahanakorn CUB”, worth Bt1.5bn, within this year. (Kao Hoon, 06/08/14)
Comment: The shifting of its main property to a freehold from a leasehold has made this stock far more valuable.
Major shareholder leaving — Wichi Tongtang says he is exiting as being a major shareholder in RPC as his ideas did not mesh with those of other shareholders. He is ready to sell all 279.25mn shares or 21.40% of outstanding shares on the market. (Kao Hoon, 06/08/14)
Comment: Could mean a couple of things, one perhaps he couldn’t get the contracts required from PTT as a feedstock b/c Mr. T isn’t around or 2 he just simply made a bad investment.
TAKUNI IPO price set at Bt1.60/share, more than a 20% discount from its fair value. Subscription period for the 100mn IPO shares will start Aug 6-8. Country Group Securities will act as the underwriter. (Kao Hoon, 06/08/14)
UNIQ says 2014 revenue to hit a new high of Bt8bn, supported by backlog of more than Bt30bn. It said 2Q14 earnings were good and it is ready to bid for the Green Line once the MRTA issues the TOR on Aug 19. It expects to win one contract. (Kao Hoon, 06/08/14)
VGI reports 1QFY15 (Apr-Jun) net profit of Bt257mn, up 33% YoY, on revenue of Bt762mn, up 19% YoY, driven by more customers for its media advertising. It expects the pick-up in consumer confidence to help continue growing ad revenues and expects revenue growth this year of 13-17%. (Kao Hoon, 06/08/14
Comment: Its monopoly on the BTS routes is the true value here.

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