AJD says 2Q14 revenue above Bt363mn, supported by stronger sales of electrical appliances due to its promotions. It reaffirms that it expects revenues this year to triple from last year’s Bt1.65bn with Bt4bn to come from sales of set-top boxes. (Thun Hoon, 01/08/14)
Comment: Their stock price has been performing incredibly well over the past 6 months purely on the back of set-top boxes expectations

BCP buys into foreign explorer – Refiner Bangchak Petroleum Plc (BCP) will pay A$22.2mn (Bt661mn) for a nearly 20% stake in Australian oil and gas explorer Nido Petroleum. The move is aimed at expanding its international portfolio and leverage business risks. (Bangkok Post, 01/08/14)
Comment: This will have a small impact on BCP’s bottom line in the end so don’t expect from it.

CK sheds subway shares – SET-listed Ch. Karnchang Plc (CK) is divesting some of its stake in subway operator Bangkok Metro Plc (BMCL) for nearly Bt1.7bn, giving it a Bt1bn profit to be used in repaying debt and serving future investments. (Bangkok Post, 01/08/14)
Comment: If I were CK I would do the same due to the run up in BMCL shares which is now pricing in its turnaround in earnings in 3-5 years from now.

CP All mulls debentures to refinance Makro purchase – CP All Plc is considering issuing another Bt50bn worth of debentures to refinance its mixed-currency long-term loans taken out to acquire Siam Makro Plc last year. Apart from Bt50bn in long-term loans, the company earlier issued two tranches of bonds worth a combined Bt90bn, in October 2013 and March 2014, and will offer a further Bt40bn this month. (Bangkok Post, 01/08/14)
Comment: CPALL has to refinance its loans to avoid the currency risk and with the demand in the local market available it shouldn’t be an issue for the firm. What’s interesting is that eventually CPALL (as they have announced) will look to reduce their holding of MAKRO to 50%.

Board okays investment in three solar power plants in Japan with a production capacity of 8.068MW. The total value of investment is Bt904mn. It expects the power plants to be completed by the end of this year and expects to book profit by the end of this year. (Kao Hoon, 01/08/14)
Comment: Overall a small impact on EPCO’s total ownings but it is interesting how thai firms are able to acquire assets in Japan in the solar sector.

IRPC: 2Q14 profit turnaround since it does not need to set up provisions for the fire at the factory in Rayong anymore. For the second half, although the company expects the petrochemical and refinery business to be weak, it is confident that revenue this year will grow from last year while GIM is expected to hit its target of US$8.00 per barrel. (Kao Hoon, 01/08/14)

JAS buys back 21.7mn shares for Bt175.61mn. The purchases have been made over the past eight days. This is equivalent to 0.30% of its paid up capital. The buy-back prices ranged from Bt8.50-7.35/share. (Kao Hoon, 01/08/14)
Comment: Supporting their own share price until the dream of their IFF comes?

MBK said profit for 1H14 will be close to 1H13 and it is confident 2H14 will be better than 1H14. It expects revenue this year to grow by 4-5%. It is also ready to open a new mall, “HaHa”, at the end of this year and open 1-2 new restaurants. (Kao Hoon, 01/08/14)

SABINA launching new campaign, “Modern V Size by Sabina”, to target woman workers. It will spend Bt40mn on a promotion campaign for brand awareness to get in on an expected pick-up in the lingerie market in the second half of the year. It targets sales of Bt500mn, 20% YoY, with an increase of 10% YoY in revenues this year. (Kao Hoon, 01/08/14)

Supalai eyes 20% rise in land budget – SET-listed developer Supalai Plc (SPALI) plans to raise its spending for land acquisition by 20% next year, because its financial liquidity is healthy and land prices are soaring. (Bangkok Post, 01/08/14)

TSTH reports turnaround in profit of Bt18.32mn for 1QFY15 (Apr-Jun). The turnaround came from better cost management and better spreads between selling price and raw material prices. Sales increased to Bt5.6bn. (Kao Hoon, 1/08/14)
Comment: I’ve been following TSTH for the past five years waiting for a turnaround, although I’m not sure that its sustainable.

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