Joining with THCOM to provide service to drilling rigs — ADVANC is joining with THCOM to be the first operator to expand a mobile network to drilling rigs in the Gulf of Thailand, using satellite technology. (Khao Hoon, 16/2/15)
AP condo wins case. AP set to continue construction and sales activities for its Aspire Ngamwongwan condominium project after a court ruled in favor of the project’s environmental impact assessment (EIA) and construction permit. The Central Administrative Court also ordered the Bangkok Metropolitan Administration (BMA) to pay 35,503.42 baht in compensation plus 7.5% interest per year to each of seven plaintiffs living near the construction site. (Bangkok Post, 7/2/2015)
AP plans to open new projects worth Bt30bn to boost its backlog by more than Bt10bn in order to secure revenue until 2016. The company is confident its revenue will increase by 10% this year, reflecting a recovery in property market. (Thun Hoon, 16/2/15)
AOT reported an earnings recovery with a net profit of Bt3.9bn (+3.7%) for FY1Q15 (OctoberDecember, 2014), due to a pickup in the global economy and the end of political unrest to drive passengers by 13% to 25.9mn. (Khao Hoon, 16/2/15)
Comment: Passenger growth is driven mainly by domestic travelers, the #’s for international travelers have yet to recover. The main driver of the stock price in the past 12 months have been news of a potential infrastructure fund.
APCS admits to loss for 2014. It expects recovery in 2015, but is uncertain whether it will return to profit in 2015. The company disclosed that orders from automobile sector have started picking up. Meanwhile, the company denied the rumors that it is a takeover target and has not been in talks with any party. (Khao Hoon, 16/2/15)
BBL targets doubling growth for its business in China from 10% growth last year, focusing on domestic consumption. The bank targets to increase its Chinese client base to 40% in the next three years, ready to support China’s investment expansion abroad, with Thailand as a main target. The bank is seeing a migration of Chinese investment from Vietnam to Thailand due to better logistics. (Krungthep Turakij, 16/2/15)
Comment: If you listen carefully to the CEO, he doesn’t seem to want to expand strongly in Thailand anymore, their focus does appear to be purely overseas business.
Interested in large developer projectss— BROCK is interested in projects launched by several large listed property developers, hoping to open new projects in Phuket soon. The company expects revenue to grow 10% this year, with backlog lasting through 2Q15. (Thun Hoon, 16/2/15)
BTC says it has appointed a financial advisor to help it source financing, hoping to push its business ahead after 8 years of losses. Meanwhile, its shareholders are concerned whether the stock will be de-listed. There is also a rumor that a Chinese nominee is accumulating shares ahead of talks for a takeover of an energy business. (Thun Hoon, 16/2/15)
CPALL expects its revenue to grow 12% or no less than Bt200bn this year (excluding revenue from Makro), aiming to add 700 branches to its 7-Eleven network to its current 8,100 branches. (Thun Hoon, 16/2/15)
CFRESH returned to profit of more than Bt300mn for 2014 after a Bt335.47mn loss in 2013, as a result of increasing sales, rising shrimp prices and baht depreciation in 4Q14. he company believes that its business has passed the worst and expects a turnaround in 2015. (Thun Hoon, 16/2/15)
Comment: If you want a “leveraged” play on the industry, then smaller firms like CFRESH are the way to go, if you want a “safer” play then TUF and CPF are the ones you should aim for.
EFORL targets revenue increase to Bt4bn this year, leading to a jump in net profit to more than Bt200mn. It will penetrate into CLMV countries. Its board will approve a dividend on February, 27 with a payout ratio no less than 40%. It plans to have a roadshow abroad. (Khao Hoon, 16/2/15)
Board approves dividend of Bt0.20/share, XD on 17 April 2015. Net profit rose 62% yp Bt153mn and total revenue increased 39% to Bt1.16mn. It targets expansion of its online top-up machines to 15,000. (Kao Hoon, 16/2/15)
Comment: I still like this business, just worried about valuations are these levels.
GRAMMY expects to realize Bt297mn from selling SE-ED stock in first quarter. However, this is insufficient to cover the loss from digital T. It expects to turn around this year after ratings from TV digital improve. (Post Today, 16/2/15)
INTUCH shows net profit Bt14.76mn in 2014 supported by profit from its satellite business and businesses abroad. It plans to pay a dividend of Bt2.23/share, XD on 31 March 2015 and payment on 24 April 2015. It targets revenue growth of 5-7% from 2014. (Kao Hoon, 16/2/15)
JASIF begins trading today. It has issued 55bn units with par of Bt10 and guaranteed yield of 9%. (Kao Hoon, 16/2/15)
Comment: If you have a look at the shareholders, 33% is JAS, 33% is MS (on behalf of….? the owner?) and the rest investors such as (bangkok bank, bangkok life assurance), how much did JAS really raise? potentially only 34%
MTLS to acquire leasing company and expects to grow after booking revenue. It is negotiation to acquire SAWAD. The board will meet on 19 February and expects to pay a dividend of 50% of net profit. (Kao Hoon, 16/2/15)
Comment: The rumours are becoming a bit ridiculous. I doubt that MTLS is silly enough to pay these heady valuations of SAWAD.
The IPO shares of S11 was fully subscribed, reflecting investor confidence in the business and growth outlook. The stock’s debut on the SET is scheduled for 25 Feb. (Khao Hoon, 16/02/15)
Comment: If you want to understand S11, have a look at GL and TK
SCC plans to increase proportion of high-value added products in its portfolio in 2015 to 29% via its subsidiary, SCC Chemicals. Management revealed its investment plan for 2015, emphasizing a petrochemical complex in Vietnam worth US$4.5bn. (Khao Hoon, 16/02/15)
SF announced net profit of Bt700mn for 2014, surging from only Bt511.86mn in 2013. The company will pay out stock dividend at a ratio of 5:1 plus cash dividend of Bt0.2222/share. The Xdividend date was set for 27 Apr 15. (Thun Hoon, 16/02/15)
Comment: SF loves their stock dividends which does affect its attractiveness to retail investors despite the firm’s continued wonderful performance.
SMPC split par to increase liquidity of its shares. The company plans to pay out cash and stock dividend. (Khao Hoon, 16/02/15)
Comment: And retail investors will love this (the stock divvy not so much)
TCMC to diversify to renewable energy into solar farm and waste power plant. (Thun Hoon, 16/2/15)
Comment: Another firm in renewable!
TSE studying investment in solar farm in Japan and expects this to be final soon. It set up a subsidiary in Singapore with capital 50,000 SGD to support its business abroad. (Krungthep Turakij, 16/2/15)
UNIQ confirmed that profit and revenue in 2015 will be outstanding supported by Natee Panichewa, the executive of UNIQ, order to bid for work worth more than Bt100bn. It is confident that t backlog will grow 25-30% from Bt30bn after government opens bidding for the mass transit railway system. It plans to list a subsidiary and expects this year to be outstanding. (Thun Hoon, 16/2/15)
Asking for oil palm concession — VPO disclosed that it has submitted an application for a concession for planting oil palms on 19,000 rai. This is now under consideration by the Forestry Department. (Post Today, 16/02/15)