AGE will issue Bt1bn worth of debentures sometime in 1Q15. It plans to use the proceeds to invest in 10 biomass power plant projects with a total capacity of 100MW. It also set a revenue target of Bt9bn for 2015, up from the expected Bt7bn in 2014. (Kao Hoon, 06/01/15)
Comment: This a positive development for AGE, for the longest time I haven’t cared much for the company because it is effectively a trader of coal and only makes a margin per transaction and without capacity increase there has never been a chance for growth. With the expansion into more power plant projects the company’s earnings in 3-5 years from now will be far more stable. It looks like punters have taken this news to heart today with the stock already up 7% as of writing.

BAY completes integration with BTMU – Bank of Ayudhya (BAY), a member of Mitsubishi UFJ Financial Group (MUFG), has completed its integration with the Bank of Tokyo-Mitsubishi UFJ (BTMU) Bangkok branch after one year of preparations. After the integration, MUFG’s ownership of BAY through BTMU increased from 72% to 76.88% as a result of the issuance of 1,281,618,026 common shares by BAY, commonly known as Krungsri, to BTMU. (Bangkok Post, 06/01/15)

BGH’s share surged on reports Malaysia-based IHH will be acquiring 11.5% in the company. The financial industry estimate total acquisition to be more than Bt20bn. BGH’s management reaffirmed that major shareholders, the Prasarttong-Osoth family, have no plans to sell their shares. (Kao Hoon, 06/01/15) IHH says not true — IHH Healthcare Berhad, after having made due enquiries with all its directors and relevant major shareholders, wishes to announce that IHH has no intention of buying an 11.5% associate stake in Bangkok Dusit Medical Services Pcl at this juncture. If this changes, IHH will make the appropriate announcement to Malaysia’s stock market. (Bursa Malaysia, 05/01/15)
Comment: I’ll buy BGH again when there is another crisis, at these levels the growth, revenue/bed whatever metric you look at, it’s still too expensive.

Gains from deal in 4Q14 — BTS is expected to book more than Bt3bn in extra gains from the NPARK-SIRI deal in 4Q14. (Kao Hoon, 06/01/15)

IFA says purchase not wise — The Independent financial advisor (IFA) of BJC states that BJC’s shareholders should not approve the purchase of METRO Cash & Carry Vietnam Limited under the new conditions as these may carry risks and be negative to BJC both in financially and legally. (Kao Hoon, 06/01/15)

BLISS expects to sell shares in Bliss Thai Asset for Bt89mn and also received a debt repayment plus accrued interest of Bt25mn, amounting to a total of more than Bt114mn from the transaction in February. The company plans to use the proceeds as working capital. (Kao Hoon, 06/01/15)

BSM expects 2015 revenue to grow by no less than 20% to reach its target of Bt600mn. It said it plans to launch a new product targeted at office, hospital and health clinic clientele, plus expand its client base in Myanmar further to help support revenue growth. (Thun Hoon, 06/01/15)

CSS plans to take over an electrical cable and wire manufacturing company. It has appointed a financial advisor to help complete the deal. The CEO of CSS confirmed that the deal is large and is expected to help increase the company’s revenue by many billions of baht. The company’s net profit is also expected to reach record highs, with 4Q14 earnings highest in 2014. (Thun Hoon, 06/01/15)
Comment: Well ok….not too sure a CEO should state such things before the acquisition is finanlised, but ok…

CFRESH expects to be in the black in 2015 after an estimated loss of Bt335.47mn in 2014. It said it plans to expand into a new business in 2015 to help support revenue and profit growth. (Thun Hoon, 06/01/15)

CWT expects a turnaround in profit in 2015 supported by a clear recovery in the automotive industry. It currently has Bt1.2bn backlog on hand and expects to book revenue from the backlog through 4Q15. Mr. Weerapon, the managing director, also said that company is planning to expand into alternative energy to help lower costs and increase revenue sources further. (Thun Hoon, 06/01/15)

EARTH expects 1H15 coal sales to touch 4mn tons supported by a high number of orders from Chinese and Korean clients. It said that it is confident that coal sales with reach the targeted 10mn tons in 2015, driven by continual growth in client portfolios. It will move ahead with its plan to acquire its third coal mine in Indonesia of 40mn tons. The deal is expected to be finalized this year. (Thun Hoon, 06/01/15)

ECF in discussions to join with a company in Japan. It expects the deal to be concluded next week. It plans to revise its initial revenue target growth to more than 15% in 2015 after expanding into a new business line. It plans to focus on expanding its client base both at home and abroad. (Thun Hoon, 06/01/15)

ITD expects to sign the concession for the development of Dawei industrial estate this January after the Thai and Myanmar committees meet for discussion on January 7-9 on expanding the land area for development. (Kao Hoon, 06/01/15)

SAWAD to join with four banks to issue Bt2bn worth of debentures this January, to be offered to institutional and major investors at the rate of 4.50% with a term of payment of 2 years and 30 days. The company said that it expects net profit and revenue and its loan portfolio in 2015 to all grow by 30%. (Kao Hoon, 06/01/15)
Comment: One of the rare companies that continues to grow YoY despite everyone else faltering in the industry.

TPCH expects to benefit from the Eppo decision to apply a new a new feed-in tariff program instead of the adder program. Management said the new system will help quicken the payback period for its investment and allow the company to invest in new projects faster, making its net profit double. (Thun Hoon, 06/01/15)

  1. Interesting day in the markets as a ptt group shareholder was very surprised to see all the ptt companies up considering brent has tumbled 7% in the last 2 days.

    I get the feeling there is “funny” business going on in the market either that or fundamentally stupid speculation…Pon any thoughts?

    • PTTEP – didn’t rebound
      PTTGC – is trading at “fair value” given where the oil price is
      PTT itself – yes its up – institutional buying perhaps who knows.
      TOP – basically flat

      • Sorry, I meant they were back up after starting the day in the red. It really is interesting to see that Energy shares holding up well this week even though oil is crashing through the floor.

  2. Perplexing indeed.

    This is slighly off topic but here me out fellas. Do you have nay views on the new Maybank EFTs MUS/MEU/MJP/MEM? I’m looking to diversify more in 2015 and would rather not pay offshore prices. Any thoughts on the new ETFS? Or is there a better alternative?


      • I can’t invest in Vanguard from my brokerage account in Thailand. But Schwab is equally as good and you can get in the game for as low as 0.04% per year. Also, if you are on hunt for tasty dividends try SCHD with an expense ration of 0.07%. Bargain if you ask me. However, I just wondered if anyone knew any more about the new Maybank ETFs.

        Any ETF fans in here?


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