ADVANC Advanced Info Service: Planning 3-year capex of Bt70bn— Advanced Info Service PCL (ADVANC.TH), Thailand’s largest mobile phone service provider by subscribers, is planning a three-year capital expenditure of Bt70bn (US$2.35bn), mainly to expand its third-generation service on the 2.1 gigahertz spectrum. The company expects service revenue to grow by 6%-8% this year, driven by strong demand for mobile Internet services on the back of rising popularity of devices such as smartphones and tablets, according to a filing to the Stock Exchange of Thailand Thursday. (Dow Jones Newswires, 8/2/13)

Comment: The ICT sector has struggled this year, not surprising given its outperformance last year.

BTS Gains from sale of VGI not on P&L this quarter — BTS updated that, based on the auditor view, the gain from the sale of VGI in IPO at Bt1.6bn might not be recorded as extra gain on this quarter’s P&L (from its existing control via current 70% stake in VGI), but it would be recorded as a part of equity on the balance sheet. (Company information)

Comment: Doesn’t play much into our viewpoint, was an easy trade @ Thb 5 til now, still awaiting the infrastructure fund news completion.


2012 grows 51.8% YoY — DELTA posted 2012 earnings of Bt435bn, increasing 51.8%YoY. It announced a dividend of Bt2.4/share, equal to 6.57% dividend yield. (Khao Hoon, 8/2/13)


ITD signs new contract — ITD signed a contract with Sumitomo Corporation Thailand to proceed with the North Bangkok Combined Cycle Power Plant Block 2 for 800 MW, Nonthaburi Province, worth Bt2.87bn. (SET, 8/2/13)


N-PARK to raise capital — N-PARK board passed a resolution approving a capital increase of 60,212.57mn shares to existing shareholders in the ratio of 2 old stocks for 1 new stock at Bt0.029/share. The new capital will be used for working capital, debt repayment, and developing existing and new projects. (Khao Hoon, 8/2/13)

Comment: What the US calls penny stocks, we eloquently called N-PARK a satang stock, we’ve always thought N-PARK was undervalued when it was at 0.01-0.02 per share, but wouldn’t dare put this in client portfolios

WHA Big lot sale under market price — The Anan Prayoon group sold a big lot 20mn shares of WHA shares, equal to 3.9% of total number of shares, at an average price of Bt46/share, below the market price of Bt48.25/share. (Khao Hoon, 8/2/13)

Comment: I’ll post something on WHA shortly, this thing is stupidly overpriced.

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