AGE plans to implement cost control and focus on local industries especially those that have high demand for power. It expects local sales to grow 20% from 2014’s Bt3.58bn. Management expects 3Q15 earnings to recover thanks to cost control. It expects to show net profit in year. (Thun Hoon, 01/10/15)
AIRA expects to show net profit in 2H15 from net loss in 1H15 of Bt37.8mn backed by the securities business. It plans to acquire other businesses to diversify (power business, leasing, insurance) which are expected to be clear in 2016. It has set up subsidiary “AIRA Property” to invest in rental business. (Thun Hoon, 01/10/15)
Comment: AIRA is continuing along its aim to become an investment holdco. 
BEAUTY plans to increase its distribution channels. It targets revenue to grow 27-30% within three years. (Thun Hoon, 01/10/15)
Comment: It’s a business I just don’t understand, and I still don’t see where their competitive advantage comes from other than pure pricing. 
BH plans to set up diagnosis centers in Cambodia, Laos, United Arab Emirates, and Qatar after Myanmar. It has budgeted Bt11bn to invest in a second hospital. It is confident 2015 revenue will grow 10% from 2014’s Bt16bn. (Thun Hoon, 01/10/15)
Comment: BH is expanding! A first since the Asian Financial Crisis. 

BSBM expects 2H15 earnings to turn around backed by implementing cost control. It expects demand in steel to increase aided by mega projects (property, building, road, rail, dam, irrigation systems). It expects to get a job from SCC. It expects to show net profit in 3Q15. (Thun Hoon, 01/10/15)
CPF expects chicken and shrimp price to recover. It expects to benefit from the weaker baht (Bt36.4/$US). It expects net profit to rise 0.25% for each 1% weakening in the baht. (Khao Hoon, 01/10/15)
Comment: Buy 1 CP Group company and get the other (CPALL) for free
EMC’s board has approved a capital increase of 6,822.53mn shares, offered to existing shareholders at a ratio 1:1 at Bt0.25/share. Some of the shares will be used to accommodate the exercise of EMC-W5. It has cancelled an allotment of 550mn shares offered as private placement. (Khao Hoon, 01/10/15)
Comment: One of the dodgiest shareholders in Thailand
HYDRO plans to ask approval from shareholders in November to sell subsidiaries to UAC. It expects to get more projects over the rest of the year. It expects 3Q15 earnings to be good. It expects 2015 revenue to grow 30% with positive net profit. (Thun Hoon, 01/10/15)
Comment: Hydro’s promise of becoming a water company with projects throughout Thailand and Myanmar haven’t quite panned out as management has promised.
MFEC expects 3Q15 earnings to grow aided by Bt1.2bn backlog. It expects the government to accelerate public investment over the rest of the year. (Thun Hoon, 01/10/15)
Comment: A confused B grade version of AIT
MTLS expects 3Q15 earnings to grow 70% and mark a record high thanks to growth in leasing. (Khao Hoon, 01/10/15
Comment: And they will continue to grow and grow and grow, we think its priced in.
Local institutions are interested in PREB shares in view of its strong fundamentals and a steady growth in net profit. Management expects 2015 revenue of Bt6.7bn. It expects to get new projects of Bt4bn. (Thun Hoon, 01/10/15)
Comment: I’ve said many a times over the years that PREB is the perfect example of a construction company that learnt how to sell property projects as well
PPP expects 2016 earnings to recover backed by activities at home and abroad. It is talking to a prospective partner to set up subsidiaries. It plans to supply green products, building materials, and power. It plans to increase power capacity from 15MW to 30-60MW. It expects 2015 revenue to be stagnant because of economic sluggishness. (Thun Hoon, 01/10/15)
PS expects 3Q15 earnings to be good. It expects 2015 revenue of Bt47bn, meeting its target. (Khao Hoon, 01/10/15)
SAMART is dealing for huge projects both at home and abroad which is expected to be concluded this year. (Thun Hoon, 01/10/15)
SENA has approved a capital increase. It will issue not more than 262.76mn shares as a rights offering, priced at Bt2.10/share and a ratio 3.335 old: 1 new. The offering period is November 3-9. It plans to utilize this cash to invest in solar farms. (Khao Hoon, 01/10/15)
Comment: Retail investors don’t like capital increases, and it seems the story of solar projects didn’t work its magic for SENA’s stock price. 
STEC says it set up provisions for the new parliament building in 2Q15 so it will not need to make extra provisions in 2H15. It has been awarded a contract to build in water pipe tunnels for Bangkok Metropolitan valued at Bt4.5bn. (Khao Hoon, 01/10/15) TIPCO
Comment: STEC and UNIQ are the only players in town that may still have upside.
TIPCO expects 2015 net profit to be over Bt1bn (+1,100%) backed by extra gain from TASCO. It expects to book a dividend from TASCO of Bt110.96mn (Bt0.30/share) in 3Q15. It plans to invest in a new business by the end of this year. (Thun Hoon, 01/10/15)
Comment: Similar to CPF, you buy Tisco and you effectively get its juice business for free
TMILL expects gradual growth in 3Q15 earnings backed by increasing wheat production to 500 tons/day. It plans to increase capital by offering 57mn share (5 old share:1 new share at Bt3/share). The selling period is Oct 5-9. (Khao Hoon, 01/10/15)
TPARK has budgeted Bt400mn to invest in 10,000 sqm warehouse phase 1 in Khon Kaen. It expects this warehouse to act as a distribution center for AEC. (Khao Hoon, 01/10/15)
TTW expects 2015 revenue to grow 5%. It has budgeted Bt3.4bn to increase capacity. It plans to invest in a new business after completing the tap water treatment plant in Krathum Baen district. (Thun Hoon, 01/10/15)
VIBHA expects 2015 revenue to grow not less than 10% backed by a broader customer base (focus on workers and social security patients). It has budgeted Bt200-300mn to add one hospital every year. It plans to attract Chinese patients to Thailand rather than set up a hospital in China. (Thun Hoon, 01/10/15)

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