AKR expects net profit to grow in 2014 as it has backlog of Bt1.1bn. It expects 2015 revenue growth of 15% YoY on rising electric inverter sales supported by demand from renewable energy sector. (Kao Hoon, 18/09/14)
Channel 3, NBTC meeting fails to reach compromise – The dispute between Channel 3 and the broadcasting regulator is likely to face a deadlock after initial talks between the two sides on Tuesday failed to reach a satisfactory conclusion. (Bangkok Post, 18/09/14)
Comment: There’s not much time left for BEC until their channels go dark.
Bt4bn expansion eyed for Bangkok Hospital – 300 new beds will serve foreign patients. Bangkok Dusit Medical Services Plc (BGH), Thailand’s largest hospital group, plans to spend Bt4bn to expand its flagship Bangkok Hospital to tap rising demand for medical tourism among foreign patients. (Bangkok Post, 18/09/14)
Comment: It will continue to be an expanding & acquiring co for the foreseeable future, I still shake my head at their convertible bond.
BMCL expects operating plan for Blue Line extension to conclude within two weeks. This will be done via direct negotiations rather than bidding since BMCL can run at lower cost and setup will take less time. (Kao Hoon, 18/09/14)
EPCO adds 1.5MW solar rooftop in 3Q14 and is confident that 2H14 will show continued growth, as it has signed an agreement for 33MW and has more power plant projects in Thailand and Japan. It expects revenue growth of 30% YoY and net profit growth of 90% YoY. (Kao Hoon, 18/09/14)
Comment: EPCO has had an impressive movement into the power plant business over the past few years hence their amazing growth.
JMART expects 2H14 revenue of Bt5.5bn as mobile sales have reached 120,000 unit/month and 2H14 is high season. The company is ready to put out its own smartphone priced at below Bt3,000, on which it will enjoy a high margin. It expects revenue and net profit growth of 15% YoY. (Kao Hoon, 18/09/14)
Comment: JMT is the key growth driver for JMART, their mobile sales will not be as fantastic as it was in the past, I’m not too sure releasing their own smartphones are going to make much of a difference.
MILL buys 7 hectares in Myanmar to set up a 60,000 ton p.a. steel factory at a cost of US$14mn in late 2014. It expects to obtain 13-year tax privileges. The company expects to get a partner soon and expects to conclude the TSSI acquisition within 4Q14. (Thun Hoon, 18/09/14)
PPM and a Chinese partner YINGLI to JV with solar PV panel producer with 600MW capacity. It expects revenue of Bt8bn in 2014. The company expects to conclude the JV in late 2014 and set up in 2015. (Kao Hoon, 18/09/14)
Comment: There is huge demand for solar panels in Thailand and most likely coming in the rest of SE Asia too, but I don’t see the cost advantage here.
PRIN cuts revenue target to Bt2.2bn as its presales and transfers have not met target. The company expects revenue of Bt1.3bn in 2014 on backlog of Bt1bn. (Kao Hoon, 18/09/14)
Q-CON says 3Q14 will be better than 2Q14 as politics is calm and confidence has recovered. It expects flat revenue YoY as volume will grow but margin decline. It plans to invest Bt600mn to set up a factory to be completed in 4Q15. (Kao Hoon, 18/09/14)
NBTC pays Bt369mn compensation for the broadcast of the final FIFA 2014 match, slashed by Bt57mn from its earlier promise. RS is filing an appeal with the court. (Kao Hoon, 18/09/14)
Comment: This is higher than what the NBTC had initially said they would pay RS so it’s still an improvement
RWI expects price to close at above Bt3 today on the strong fundamentals of its steel business. Management is confident that revenue will reach Bt1bn in 2015 and will use the funds from the IPO to buy machinery and as working capital. (Kao Hoon, 18/09/14)
UNIQ increased capital by Bt1.6bn via private placement at a price of Bt9 to support large projects in 2014. The company allocated 168mn shares to institutional investors and four big retail investors. (Kao Hoon, 18/09/14)
Comment: UNIQ should be able to benefit from the infrastructure spending and with the increase in capital they can take on larger sized projects, my contacts tell me that the owner of WHA is one of the big subscribers to the PP