AGE
AGE expects 2014 coal sales to hit target of 4mn tons, supported by strong demand from China. It expects revenue for the year to reach Bt7bn. Next year, it expects to start booking Bt60-70mn in revenue from its biomass power plant in Sukhothai. (Kao Hoon, 03/11/14)
Comment: Nothing exciting happening here anymore.

AKR
Solar firms ask for protection – Ekarat Solar Co, Thailand’s top maker of solar modules, is urging the new government to adopt measures to shield the local industry from unfair competition. Wiwat Sangtian, managing director of the wholly owned unit of the country’s biggest transformer maker, SET-listed Ekarat Engineering Plc (AKR), said Ekarat was joining with other solar module companies in making the request. Mr. Wiwat said the energy regulator should at least require the next round of licence seekers to use locally made modules. Since 2009, solar modules and solar farm components have been hit hard by imported Chinese substitutes.(Bangkok Post, 03/09/14)
Comment: AKR has to change its business model, the only reason we solar plants are becoming viable is because of China.

BKD
BKD expects 20% rise in 3Q14 revenue to Bt317mn. It is waiting to sign on a government project this September worth Bt380mn. Current backlog stands at Bt2.01bn and it expects to book 50% of that this year. BKD will bid for more work worth Bt2bn. It expects revenue to reach Bt1.1bn this year and Bt1.3bn next year. (Kao Hoon, 03/11/14)

BSM

BSM preparing to launch a new product in 3Q14, boosting 2H14 revenue. The company reduced revenue target to Bt600mn, +10% YoY, as it was hurt by the political unrest in 1H14. It is signing a JV agreement with a Myanmar company. (Kao Hoon, 03/09/14)
Comment: A nice little well-run company.

CHO
CHO says 2014 revenue will exceed target, reaching Bt1.2bn supported by the current backlog of Bt1.1bn with Bt800mn expected to be booked this year. It will also bid for NGV buses at the end of this year. It set a target net margin of 8-9% for the year. (Kao Hoon, 03/11/14)

CK
CK says it obtained contract to repair Sri Rat expressway from BECL worth Bt27mn. The company also expects revenue of more than Bt33bn and is waiting for big projects in October. (Thun Hoon, 03/09/14)

DTAC
Abdullah logs off while Brekke tops up at DTAC – Jon Eddy Abdullah, chief executive of Total Access Communication (DTAC), has resigned from his position after three and a half years at the helm. He said his resignation was due to a difference of opinion on how to take DTAC forward. Vice-chairman Sigve Brekke will serve as interim chief executive overseeing the overall management of DTAC until the board can find a permanent leader. He will continue serving as executive vicepresident and head of Telenor Group’s Asian operations. (Bangkok Post, 03/09/14)
Comment: The story here is simple, Telenor wants to keep paying out massive dividends to fund its expansion in India, Jon wanted to keep some $ in Thailand to expand the business further.

ERW
ERW expects 2H14 to be great after political problems eased, stimulating tourism. The company is planning to launch 28 new hotels and 15 Hop Inn hotels to boost revenue. Management expects revenue growth of 30-40% YoY in 2015 and will invest Bt1.8bn to set up hotels in the Philippines and Indonesia. (Thun Hoon, 03/09/14)
Comment: Was the one of the easiest decisions to make buying it in the beginning of this year.

ESTAR
ESTAR to start unlocking hidden value by selling some of its land in prime locations. It expects to book extra income of over Bt1bn. It said a major shareholder is looking to acquire its business to help strengthen the business. It plans to launch a luxury real estate project in order to diversify its rental property business. It expects to book Bt3.8bn in revenue from transfers in 3Q14 and expects core net profit this year at Bt200mn, up 30% YoY. (Thun Hoon, 03/11/14)
Comment: Their value is 100% in their land assets, the projects and profits they generate are of second importance to investors that invest here.

IFS
IFS supported by recovery in domestic consumption. The company is confident that factory loans will reach Bt30bn, +5-10% YoY in 2014. It sees a bright earnings outlook for 2014 with low NPLs reducing the burden of loan loss provisions. (Thun Hoon, 03/09/14)

ILINK
ILINK targets 2014 profit of Bt220mn, revenue Bt2.4bn, with strong growth in all four business segments. It will sign for more work worth Bt700mn, raising 2014 backlog to Bt1.7bn. It will also bid for setting up an underwater cable system from TOT worth Bt5bn. (Kao Hoon, 03/11/14)
Comment: It’s a great company, in a burgeoning sector that has experienced constant growth over the past few years.

IMPACT
Press conference β€” Today, BLAND and Maybank Kim Eng Securities, its financial advisor, will hold a press conference on IMPACT Growth REIT. Management of Maybank Kim Eng said yield for the REIT is estimated to range between 6-7% and the initial offering price at Bt10.30-10.60/unit. (Kao Hoon, 03/11/14)
Comment: Hence why MBKET keeps putting out papers on BLAND for the past 6 months.

LDC
LDC share price surged 200% to close up at ceiling price of Bt4.50/share on its first day of trading. There is a high chance that price will continue up, with pending orders for 60mn shares. Management expects 20% revenue growth this year and the company will continue expanding the number of branches to help lower overall costs. It also expects to close an acquisition deal within this year. (Kao Hoon, 03/11/14)
Comment: No surprise here.

NNCL
NNCL expects to be in the black in 2014 despite the 1H14 net loss of Bt35mn. It is confident that it will see sharp growth in 2H14 and expects land sales of 400 rai in 2014. It is preparing to expand area in two industrial estates and aims to set up a 2nd power plant with 125MW capacity worth Bt5.8bn. (Thun Hoon, 03/09/14)
Comment: The industrial real estate side of the business has always been average at best, its the powerplants that are intriguing for NNCL

PF
PF vows to keep KLand stake – SET-listed developer Property Perfect Plc (PF) insists it is maintaining a 20.22% stake in Krungthep Land (KLand) following a report that a company owned by liquor tycoon Charoen Sirivadhanabhakdi had spent Bt1.4bn to acquire additional shares in KLand. (Bangkok Post, 03/09/14)

PJW
PJW expects 2014 revenue growth of 10%. Management expects to see a recovery in business in 2H14 supported by improvement in the economy. It will start operating its painting plant in 3Q14. (Kao Hoon, 03/11/14)
Comment: They’ve expanded their capacity a lot in the past 2 years but utilisation rates have remained very low still, management is still expecting that they can reach full utilisation over the next few years from the automotive sector, whether it happens or not I have no idea.

PTT
PTT is adjusting NGV gas allocation as Sin Phu Hom well will be idle for maintenance during 8-12 September, affecting 37 gas stations in northeastern Thailand. (Kao Hoon, 03/09/14)

QTC
QTC expects 2014 revenue to reach Bt1bn supported by orders still waiting for delivery worth more than Bt200mn. It is still waiting for the bidding results for a Provincial Electricity Authority (PEA) project worth Bt1.5bn, of which it hopes to win Bt200mn. (Kao Hoon, 03/11/14)
Comment: Similar to TRT, they have to wait for the government agencies to be working before projects can come in again.

TMB
TMB offers cheque pickup – TMB Bank, the country’s seventh-largest bank by assets, has launched a free cheque pickup service for small and midsized enterprises (SME) to increase its customer base. The service targets SMEs with annual sales of Bt50-500mn, said senior executive vice-president Trirong Butragaht. It picks up cheques from customers and deposits them to accounts opened at the bank. The service will cover 27 provinces initially. (Bangkok Post, 03/09/14)

TRUE
True ups online speed 50% β€” True Online, the broadband internet arm of True Corporation, is increasing the country’s minimum broadband speeds for home internet access to 15 megabits per second (Mbps). The move by the country’s largest high speed fixed-line broadband service provider aims to lift demand for higher internet speeds. Mr. Manat, chief commercial officer of True Online, said True gained 72,111 new broadband subscribers in the second quarter, a record high since its inception. The company expects 300,000 more subscribers this year, bringing the total to 2.2mn. The company projects its broadband revenue to grow by 30% this year. (Bangkok Post, 03/09/14)
Comment: I’m on TOT! maybe its time to switch. Still don’t care much for the stock.

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