AH expects revenue to grow at least 10% this year. It will invest Bt400mn to upgrade its machinery. It is now discussing with business expansion with a potential partner. (Kao Hoon, 16/3/15)
Comment: It has been the worst performing auto manufacturing stock in the past 10 years in Thailand

AQ will expand more in residential property business, after cutting par to Bt0.5/share from Bt20/share and totally clearing all retained loss. In 2015, it will open nine new projects worth Bt8bn. It expects 2015 revenue to be Bt2.5bn. It plans to pay a dividend after turning to profit. (Thun Hoon, 16/3/15)
Comment: AQ still aims to be a turnaround story.

BA targets revenue increase of 20% to Bt25bn this year, expecting higher revenue per seat after cutting promotions. BA has not benefited much from falling oil prices as it has a 60% hedge on fuel. (Krungthep Thurakij, 14/3/15)

BAY saw sluggish credit card spending in the first two months, 5% below its target. However, asset quality improved in 2M15 as a result of bonus season. (Krungthep Thurakij, 14/3/15)

BEAUTY to hold roadshow in Hong Kong and the US. The company confirms that it will not raise capital and expects revenue to grow at least 20% to Bt1.7bn this year. It will invest Bt130mn into branch expansion both domestic and abroad. (Kao Hoon, 16/3/15)

BJC’s board of directors approves investment in Metro Vietnam (100% holding). Funds will come from raising capital via a rights offering as well as private placement. The board also approved issuing 16mn shares for ESOP. (Krungthep Thurakij, 14/3/15)
Comment: And they got want they wanted in the end

DEMCO awarded new project worth Bt4bn, comprising of Bt2bn for EGAT and a Bt1.75bn solar power plant. (Kao Hoon, 16/3/15)
Comment: Again the story here is whether or not the WEH shareholding issue will be fixed.

Board approves DPS of Bt0.07, XD on 24 March, with free warrant at 10 existing shares to 1 warrant. In 2015, it expects revenue from units transferred at The Grand Rama 9 to reach Bt6bn. (Thun Hoon, 16/3/15)
Comment: The warrants aren’t big enough to affect capital for their business, looks more like a way to thank shareholders?

GUNKUL to submit plan to invest in wind power plants to the shareholders meeting on April 10. The company is confident it will boost revenue by 30% to Bt4bn this year. (Kao Hoon, 16/3/15)

HMPRO targets Bt650mn sales at the 21st HomePro Expo during 13-22 March. It expects its revenue to increase 15% this year and will expand both at home and abroad. (Kao Hoon, 16/3/15)

MACO is talking with 2-3 partners to expand in AEC which will be seen this year. It invested Bt500mn for advertising space of 20K sqm in Thailand. It expects earnings to grow 20% in 2015. (Thun Hoon, 16/3/15)

MDX expects its performance to be strong in 2015 with more potential from solar power business for the government sector. Management is confident that its land sales should be in line with the industry with more interest from Japanese investors to buy the remaining 300 rai for Bt900mn. The company expects the price of this land could be raised to Bt1.2bn given the infrastructure of the industrial estate. (Thun Hoon, 16/03/15)

MILL negotiating with partner for investment in 20-30MW solar farm. Management expects to book profit of Bt1bn this year from this project. MILL’s 1Q15 profit should remain strong from more orders for its steel products and higher margin from lower raw material cost. Management expects revenue could reach Bt16bn in 2015. (Thun Hoon, 16/03/15)

Diversifying into power generation – Nava Nakorn Plc (NNCL), an industrial land developer, plans to diversify into power generation. (Bangkok Post, 14/3/15)

NokScoot, JV between NOK and Scoot, to start flying in May with two routes to Nanjing, China (promotional rate Bt888/flight) and Seoul, South Korea (promotional rate Bt2,555/flight). It plans to open routes to Tokyo and Osaka, Japan. NokScoot expects a 80% load factor in the first year of operations. Thai AirAsia X has launched promotional rates for the same routes, aiming to gain more market share and it plans to open more routes to Japan and China. (Prachachart Turakit, 16/03/15)

PPP’s earnings performance has continued to improve during the past three years.Management expects revenue and profit to rise further with support from power generating business comprising 30MW solar and 30MW wind. Management expects revenue for power business to rise to 50% of total revenue. The company will also start an EPC business for solar power plants. (Thun Hoon, 16/03/15)

Cutting capex again – PTT Plc, the national oil and gas conglomerate, plans to reduce capital expenditure between now and 2019 by 10% from the previously planned 327 billion baht. (Bangkok Post, 14/3/15)

ROBINS expected its 1Q15 sales to be around Bt6.68bn. The company is confident it will achieve sales growth of 14-15% this year. It will invest Bt4-4.5bn to open four new branches, in Rayong, Burirum, Nonthaburi, and Tak. (Kao Hoon, 16/315)
Comment: Every broker has been commenting that half of Robin’s EBITDA comes from rental income

SGP expected 1Q15 to turnaround to profit vs. loss in 2014 and 1Q14 after LPG prices increased to US$465/ton in February from the bottom of US$447.5/ton in January. (Thai Post, 14/3/15)

TOG targets 10% growth in revenue with 12% profit margin this year. It will penetrate the US and ASEAN markets. It is paying a DPS of Bt0.23 (XD on April 7). (Kao Hoon, 16/3/15)

TSR signals that 2015 revenue will be above its previous target of Bt1.5bn, as Daikin air conditioner sales are expected to jump to 1000 units this year. After expanding in the domestic market, it will focus on the water filter market in Indonesia and the Philippines over the next three years. (Thun Hoon, 16/3/15)

UWC plans to expand its power business to boost revenue with 3-4 electricity generating projects that could be finalized in the near future. The first power project will be a 60MW hydropower plant. (Thun Hoon, 16/03/15)

VGI plans acquisition and joint venture for outdoor media business. It is now negotiating for 10 deals. (Post Today, 16/3/15)

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