AMATA, HEMRAJ/ SAT, STANLY, AH
BoI approves 18 new projects, total value Bt90bn. AMATA and HEMRAJ, SAT, STANLY and AH will all benefit, with the latter hoping to receive orders from Eco Car Phase 2 with five automakers so far having been approved. (Kao Hoon, 08/10/14)
Comment: It isn’t necessarily true that the 3 automotive players will benefit because some are more focused on 1 tonne pickups, sedans etc etc.
AP said that 3Q14 presales hit Bt8bn, pushing 9M14 presales to Bt17.7bn. It also aims to launch two new projects worth Bt2.2bn in 4Q14. (Kao Hoon, 08/10/14)
Comment: Every property company has had a decent recovery in the 2H14
Charn Issara bets on market recovery – SET-listed developer Charn Issara Development Plc plans to launch seven new projects in five provinces worth a combined 13.5 billion baht over the next 15 months after market sentiment recovers. (Bangkok Post, 08/10/14)
Comments: CI is surprisingly a decent proxy for investing in property developers focused in the provinces, historically they’ve focused the most in hua hin/cha am and phuket
DEMCO obtains power plant construction worth US$2.7mn in Myanmar and continues to obtain additional projects in 2H14. It is ready to book electrical transmission and system projects nationwide under government investment of Bt120bn. (Thun Hoon, 08/10/14)
Comment: Demco should be able to grab every renewable related construction job there is.
EARTH expects to received new coal orders from a new client in India of ~600k ton. The deal is expected to be finalized soon. It also said that if it receives this order, it will help exports and sales to exceed its target of 9mn tons this year. (Thun Hoon, 08/10/14)
IEC to open waste power plant in Hat Yai this November. The plant has a capacity of 6.7MW and has received a long term contract of 30 years with adder of Bt3.5 per unit. (Kao Hoon, 08/10/14)
Comment: It’s been in the news for a long time, but still this POS is way overvalued.
MCOT asks for B1.4bn allocation – MCOT Plc, the state-run digital TV network provider and broadcaster, seeks to solve its digital TV network expansion delay by asking for 1.4 billion baht from the government. (Bangkok Post, 08/10/14)
PCSGH is looking to expand into producing parts for Eco Car phase 2 and the company is confident that it will receive orders of at least 200-400K units per year. (Kao Hoon, 08/10/14)
PERM expects 4Q14 earnings to be year’s highest due to high season. The company expects 3Q14 earnings growth of 10% YoY, revenue growth of 10-15% YoY in 2014, and growing profit in 2015 as it is increasing production capacity and is negotiating with partner to do a JV for the steel business, to be concluded in early 2015. (Thun Hoon, 08/10/14)
TMC expects earnings for the second half to be better than the first supported by backlog of more than Bt700mn and with all expected to be booked in this year. (Kao Hoon, 08/10/14)
TRC cooperating with Chinese partner to bid for pipeline construction for PTT in the north and northeast of Thailand worth ~Bt10bn. The company will complete the deal worth Bt7bn in October and will sign agreement to set up gas furnace worth Bt900mn, bringing backlog up to Bt7bn. The company expects great earnings in 3Q14. (Thun Hoon, 08/10/14)
IPO avalanche tipped to continue on SET – VPO, one of Thailand’s leading palm oil manufacturers and distributors, plans to allot up to 236 million shares to the public next month to raise funds to repay its debt, widening its profit margin. Some 96 million shares will be owned by the company’s existing shareholders, with the remaining 140 million newly issued shares. (Bangkok Post, 08/10/14)
Comment: I believe they have the largest crushing capacity in Thailand today.