Stocks in the news (ajp, apco, bjchi, cpall, mono, nok, nusa, sam, siri, vgi) 30.07.14
AJP
AJP to maintain core business, provision and production of television satellite programs. It said politics did not impact 2Q14 earnings. (Kao Hoon, 30/07/14)
APCO
APCO accesses Chinese market after China approved three cosmetic products. The company and partnership will focus on China, Taiwan, Macao, and Hong Kong and book revenue from these markets in 4Q14. It expects gross margin of 55-60% and will continue to add to the number of agents in Asian markets. (Kao Hoon, 30/07/14)
Comment: Great story, tough competition in those markets, but great story nonetheless.
BJCHI
BJCHI gets eight new projects from Brazil worth Bt1.25bn, bringing backlog to Bt6bn. Seventy percent of backlog will be booked in 2014. It expects to obtain new projects worth Bt6.5bn. (Kao Hoon, 30/07/14)
Comment: One day the market will re-rate this firm to be the at the same level as STP&I, but who knows when.
CPALL
CPALL preparing to sell corporate bond worth Bt40-50bn. It maintains its target revenue growth of 12% YoY. It will add 600-650 branches to bring the total to 8,000 at the end of 2014. (Kao Hoon, 30/07/14)
Comment: Massive refinancing is needed for CPALL because of the MAKRO acquisition, no surprises here.
MONO
MONO’s digital TV business good, receiving rating of 5. The company expects the coupons from the NBTC will lead more households to watch digital TV. Its expects a better 2H14 than 1H14. (Kao Hoon, 30/07/14)
NOK
Scoot, Nok Air sign pact — NOK and Scoot, part of Singapore Airlines, have strengthened their partnership with an agreement allowing the Thai and Singaporean budget carriers to feed passengers into their respective networks. Scoot can offer seats on NOK flights between Don Mueang and 21 cities in Thailand, while NOK passengers can fly on Scoot’s international network including Singapore, Sydney and Perth. Scoot only operates a daily flight between Bangkok and Singapore using a B777-200 jet. NokScoot, 49% owned by Scoot Pte and 51% by NOK and four of its senior executives, is expected to take to the skies in the next couple of months with service to Japan’s Narita airport. (Bangkok Post, 30/07/14)
NUSA
NUSA expects to be in the black in 2014 after last year’s loss of Bt49.85mn. It plan to raise its increase revenue target of Bt2bn as it has backlog of Bt3bn. It is ready to launch new projects. (Kao Hoon, 30/07/14)
SAM
SAM expects flat 2Q14 net profit QoQ from 1Q14 of Bt38.32mn. Although sales declined, it worked to make up for this by value-added product sales. It will focus on the northeastern and southern markets in 3Q14, bringing 2014 revenue to Bt3.5bn. (Kao Hoon, 30/07/14)
SIRI
Sansiri alters focus to profitability – SIRI has vowed to shift its focus from presales to profitability in a bid to raise its net margin to at least 10% this year. Despite reporting presales of Bt43bn last year, the highest since it opened 30 years ago, Sansiri’s profitability was weak compared with two of its largest peers – Land and Houses Plc and Pruksa Real Estate Plc. It targets a net profit margin of 10% this year, 12% next year and 16% in 2016, closer to the levels of the two peers. (Bangkok Post, 30/07/14)
Comment: This feels like a redux of 2010-2012.
VGI
VGI not buying TH shares yet. It says it is still studying the purchase of TH shares. TH canceled its plan invest in Springnews Television because it wants to use the funds for another project. The SP was removed by the SET. (Kao Hoon, 30/07/14)