AIRA setting up AIFUL JV in 2014 and has three acquisition deals coming up. It expects its brokerage business to generate higher net profit than 2013’s Bt90mn as trading volume has recovered. It maintains its 2014 market share target of 1.3-1.5% and expects asset of over Bt20bn in 2016. (Kao Hoon, 08/09/14)
Comment: A friend pointed out, how could AIRA be trading @ the same market cap as ASP despite the fact it has 1/8 the business?

AJD maintains target to triple revenues this year despite the lower coupon than expected for the digital set-top boxes of Bt690. It expects revenue from the sale of set-top boxes to start in 4Q14. 3Q14 earnings are expected to be stronger than 2Q14. (Kao Hoon, 08/09/11)

CEN maintains revenue growth of 10% YoY as its subsidiary expects to obtain construction projects for network towers and high-voltage transmission towers in 3Q14. It also expects to obtain public projects in 2H14 and is negotiating to purchase a renewable energy company at the end of 2014. (Kao Hoon, 08/09/14)

HOTPOT said 3Q14 sales volume will increase sharply upon the return of consumer purchases. The company targets revenue growth of 15% YoY and expects to add 15-16 new branches. It is ready to expand to Laos, Myanmar, and Cambodia. It expects to access into Suki sauce market in 4Q14 supporting revenue growth in the long run. (Thun Hoon, 08/09/14)
Comment: An F grade version of MK Suki Restaurants.

IFEC raising capital by 545mn shares, including PP of 300mn shares at Bt6/share, RO of 194mn shares at Bt4/share, with the rest held back for warrant exercise. The company expects to use the funds to set up a new project and JV. Management expects to finish the acquisition of a power plant in September. (Thun Hoon, 08/09/14)
Comment: IFEC essentially has zero funds and a lot of “business”, they’ll have to continue raising equity forever and ever and ever. But local punters are loving it.

MEGA says 2014 net profits close to last year’s Bt624.02mn since it expects 2H14 performance to be higher than 1H14’s net profit of Bt185.67mn as there will be no new large investment. (Kao Hoon, 08/09/14)
Comment: Met with them in the past week, it is impressive how well they have done to shift from OEM manufacturers to owning their own brands in the past 10-15 years.

N-PARK to start transferring Park Aran, worth Bt200mn, with revenue expected to be booked in October. It will also start construction of a condo at the end of this year. It expects net loss this year to be smaller than last year and targets revenue of Bt12bn within five years. (Kao Hoon, 08/09/14)

Moving on expansion — OCEAN has started buying new machinery and constructing its showroom, which is expected to be the most modern and largest faucet showroom in Thailand. It expects production to start at the beginning of the year and help lead to revenue growth of at least 20%. The managing director says profit will continue to grow in 2H14 and expects sales this year to reach Bt300mn. (Kao Hoon, 08/09/14)

PERM expects net profit growth of 2,000% in 2014 from 2013’s Bt4.28mn on a rise in sales volume and in steel price. The company will invest Bt1.75bn to expand capacity by 30-50% to 45,000-50,000 tons per year. (Thun Hoon, 08/09/14)

All rights taken — KT ZMICO Securities says CEN’s shareholders have exercised their rights for all 60mn RWI shares due to RWI’s strong fundamentals. The rest of RWI’s 90mn IPO shares will be open to subscribe during 10-12h September. The stock will start trading on mai on 18 September. RWI said it is confident in its business growth and expects to see strong interest from investors. (Kao Hoon, 08/09/11)

SEAOIL undertaking study to expand. It is confident that revenue this year will increase by 20%, supported by recovery in 2H14. It says fundamentals have not changed despite the recent surge in share prices. (Kao Hoon, 08/09/14)

TRUE capital increase a success, raising Bt65bn. Bt52bn will be used to repay bank loans this quarter. The capital increase also increased China Mobile’s stake to 18%, making it the 2nd largest shareholder, just behind CP’s 51.30%. China Mobile has assigned three of its people to sit on TRUE’s board. (Kao Hoon, 08/09/14)

Comment: This was expected to pass without issues, now TRUE will have a far lower interest payment every year, hence the stock price shooting up. That is until they decide to expand and do tonnes of silly marketing again.

UV expects large growth in 3Q14 from 2Q14’s Bt166mn, on transfers that will provide revenue growth of 218.51% YoY. Management expects to launch a new project with net margin of 28% and also set up a REIT worth Bt10bn and book extra income of Bt5bn. (Thun Hoon, 08/09/14)
Comment: Similar to a lot of property firms with office buildings in Thailand, the value is purely in their potential to sell their assets to REITS

UWC says 3Q14 will be good, supported by the booking of revenue for telecommunications tower construction of an average of Bt50mn per month, which will carry through to 4Q14. The company also plans to bid for work to construct steel structures for transmission lines for EGAT worth Bt1bn this November. (Kao Hoon, 08/09/14)

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