PDRC targets AIS in anti-Shinawatra bid- The People’s Democratic Reform Committee (PDRC) kicked off its campaign yesterday targeting businesses believed to be owned by the Shinawatra family. PDRC leader Suthep Thaugsuban announced at a Silom Road rally it was necessary to “destroy” the Shinawatras’ funding sources and the group targeted Advanced Info Service (AIS), a leading mobile phone network operator. (Bangkok Post, 21/02/14)

Comment: As I posted yesterday, this is fairly ridiculous, Singtel/Temasek are the majority shareholders of ADVANC and INTUCH


AGE expects coal sales at 4mn tons in 2014. It will focus on overseas clients. Its 2013 net profit was reported at Bt95mn with sales of 2.4mn tons. (Khao Hoon, 21/02/14)

Comment: The company has struggled to maintain its targets over the past 2 years


No targets yet — AMATA says it has not yet set revenue and land sales targets for this year due to the political situation. However, it said that if politics calms down within 1H14, it is confident that total land sales will be higher than last year’s. It will go ahead and set up its REIT fund in June 2014 and said that it is currently undertaking a study on investment in industrial estates in Myanmar. (Khao Hoon, 21/02/14)

Comment: If this stock ever drops to single digits levels then we’ll be licking our lips


CPALL expects Bt600mn in MAKRO dividends after MAKRO announced a DPS of Bt0.30, XD on March 6, 2014 with payment on May 23, 2014. CPALL announced a DPS of Bt0.90 even though 2013 net profit fell to Bt10.5bn. (Khao Hoon, 21/02/14)

Comment: A small drop in the bucket for CPALL’s earnings, but the inclusion of MAKRO to its overall bottom line is more important and once the debt overhang on CPALL is finally absolved this counter may be attractive again to investors


Delta turns focus abroad – Delta Electronics (Thailand) is considering the acquisition of a related business abroad, with a deal expected to be concluded this year. Board director Anusorn Muttaraid said Delta is in talks with two foreign companies about acquiring 100% of one of them. (Bangkok Post, 21/02/14)


Coal company will double sales with mine purchases — Energy Earth Plc, a SET-listed coal miner and distributor, will acquire three mines in Indonesia’s portion of Borneo to support a goal of more than doubling coal sales to 20 million tonnes by 2016. The company currently operates a mine in Myanmar through a joint operating agreement with a local partner. The mine, for which Energy Earth is the operator and distributor of the coal, has reserves of 40 million tonnes. Energy Earth will issue debentures worth 5 billion baht to buy a fifth mine in 2016. The company’s five-year plan through 2016 envisions five mines operating and coal sales more than doubling to 20 million tonnes a year, up from 8 million tonnes last year. In January, Energy Earth moved from the Market for Alternative Investment to the SET. (Bangkok Post, 21/02/14)

Comment: These guys are just doing amazing and keep growing, but we still can’t seem to get a hold of management


KTB explains rice miller loans. KTB says loans given to the rice millers were from earlier lines of credit from last year worth more than Bt40bn; Bt25bn of this remains undrawn. It also said it expects to be a leader in bancassurance business in 2015 after fee income from this channel grew 75% YoY. (Khao Hoon, 21/02/14)


KTC ploughs ahead with growth plan – Krungthai Card expects annual profit growth of 20% in the coming years, paving the way for KTC to become the biggest player in the industry by 2018. The target has been set despite the faltering economy and heightened political uncertainty. (Bangkok Post, 21/02/14)

Comment: It appears to have a good divided yield, issue is the potential increase in provisions and NPL’s in the 1H14


Sansiri cuts condo plans over turmoil – Sansiri Plc (SIRI), the SET-listed property developer, plans to launch only nine new condominiums worth a combined Bt17.6bn this year, blaming the low number largely on the country’s political instability. Last year, Sansiri launched 29 condo projects worth a combined Bt42bn. (Bangkok Post, 21/02/14)

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.