Wins coal orders from China — AGE won new coal orders from China of 300,000 tons and this will help push its international sales for the year to more than 1mn tons. Management expects total 2013 coal sales of 2.5mn tons, with revenue of over Bt5bn. (Khao Hoon, 21/10/13)


Bond issue — CPALL will issue bonds worth Bt40bn to institutions and for the public on Oct 28-30. The life of the bond will be 3-10 years with returns of 4.10-5.35%. (Khao Hoon, 21/10/13)

Comment: Given the current offerings in the bond market, we find their bonds to attractive, shouldn’t be an issue @ all for CPALL


Central to splurge Bt10bn a year on overseas shopping – Central Group of Companies will set aside at least Bt10bn a year on overseas acquisitions as part of the strategy to enlarge its investment portfolio. (Bangkok Post, 21/10/13)

Comment: It’s impressive what they’ve achieved in Thailand and if they apply the same cautious approach overseas we wouldn’t be surprised to see their continued success.


Earnings out Nov 15, property fund to be set up — HEMRAJ will release its 3Q13 earnings on Nov 15, 2013. Gheco-one project has been running since September and the company expects to book full revenues starting 4Q13. HEMRAJ also plans to set up a property fund worth Bt4.5bn. Sales for the year are expected to grow by 40% to reach Bt9bn. (Khao Hoon, 21/10/13)

Comment: Still the best all around industrial estate player in Thailand


Supalai getting ready to enter two more provinces – Supalai Plc (SPALI) is revving up its expansion into two new locations – Nakhon Ratchasima and Ubon Ratchathani – while developing more projects in the provinces to deal with higher competition and limited demand in Greater Bangkok. Managing director Atip Bijanonda said housing development in the provinces will account for 25% of total launches in 2014 and 30% in 2015, up from 22% this year as the company sees strong demand in the provinces. (Bangkok Post, 21/10/13)

Comment: We like the upcountry expansion and given how expensive land has become in Bangkok property developers are running out of options.


September cabin factor up — Tourism continues to flourish, giving THAI a cabin factor of 72.3% in September. Also providing support was the increase in number of domestic and international routes and more new planes. (Tun Hoon, 21/10/13)


UNIQ to bid for Green Line in December —Management expects to win at least one contract worth more than Bt10bn, which would bring its order book to Bt80bn. Profit for the year is expected to jump and dividend payout will be 60-70%. The company is looking for partners for a dam project for the AEC. (Tun Hoon, 21/10/13)

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