Don Mueang commercial area in Terminal 2 up for bid – AOT plans to open bidding for the commercial area in Terminal 2 at Don Mueang airport. (Khao Hoon, 29/04/15)

7-9% loan growth this year – Bank of Ayudhya (BAY), Thailand’s fifth largest bank by assets, expects loan growth of 7-9% this year, primarily from corporate lending, while intending to cap its nonperforming loans (NPLs) at less than 2.5%. President and chief executive Noriaki Goto said the main sources of loan growth would come from the corporate sector, but BAY would be cautious on expanding its retail loan portfolio. (Bangkok Post, 29/04/15)

BJCHI’s shareholders approve cash dividend of Bt0.25/share and stock dividend at 4 existing shares to 1 stock dividend. Payment is on May 26. The company will split par from Bt1/share to Bt0.25/share to gain greater trading liquidity. This year it expects 15% revenue growth and believes it is positioned to get Bt12bn in projects with high potential. (Than Hoon, 29/04/15)
Comment: I generally don’t care more for stock dividends in the thai market because of the way retail investors react. BJCHI still is a decent company despite what is happening with oil prices.

IFEC signs MoU with DPS Group Co., Ltd from Lao People’s Democratic Republic to develop 200MW wind power plant project in Laos. The investment will be ~US$400mn. The company expects revenue of Bt4.0bn this year and expects to list subsidiary iwind next year. (Khao Hoon, 29/04/15)

IRPC expected to report strong net profit in 1Q15 of ~Bt3.6bn backed by strong GIM. 2015 is set to be a good year for IRPC with expected net profit at ~Bt8.0bn. (Khao Hoon, 29/04/15)

ITD expects revenue of Bt15bn this year and will continue to expand hotel and construction business. In 1Q15, ITD received projects with total value of Bt4.9bn and will receive Bt500mn projects from the Provincial Electricity Authority (PEA) in May. (Khao Hoon, 29/04/15)

JAS shareholders approve JAS-W3 not exceeding 3.5bn units. The ratio is 2.04 existing shares for 1 warrant. The company is talking with 5-6 foreign partners to coordinate a 4G project and expects to finalize this in 2H15. The company guides that 1Q15 profit was relatively flat from 1Q14. (Khao Hoon, 29/04/15)

KBS expects revenue growth of 5% this year backed by revenue from 35MW biomass power plant project of Bt550mn. Shareholders have approved a dividend of Bt0.15/share, to be paid on May 22. (Khao Hoon, 29/04/15)
Comment: Usual story from a sugar co, but what’s troublesome is how Brazil (with the currency declining and being one of the largest exporters of sugar) can hurt all of these thai co’s

ML expects strong 1Q15 earnings backed by personal loans (cash-for-car), which will help dilute the impact from slow hire-purchase business and strong NIM from interest rate downtrend. It is waiting for its nano-finance license. (Than Hoon, 29/04/15)

No capital call – At the AGM, shareholders voted against raising capital by 300mn shares. (Khao Hoon, 29/04/15)
Comment: I do wonder if this will hurt NOBLE’s plans to continuing developing and finishing its existing projects.

TGCI will expand into alternative energy and drinking water businesses. This year, the company expects earnings to turn around with the support of SCG group. (Than Hoon, 29/04/15)

Gets Hongsa project – TRT said its JV has been awarded a 4.5-year contract for a project at Hongsa with value of Bt1.3bn. It expects to recognize Bt130mn in revenue from this project this year. It expects 30% revenue growth in 2015 and in 2017 it expects a larger revenue base of Bt5.0bn. (Khao Hoon, 29/04/15)
Comment: A positive for this transformer co, with the government being slow to award new projects, TRT, QTC et al have been struggling domestically.

TSE expects stronger net profit this year boosted by a full year of contribution from 98.5MW solar farms. It plans to spend Bt10bn during 2015-16 to expand its solar farm business in Thailand (100MW) and Japan (50MW) and will wipe out retained loss this year. (Khao Hoon, 29/04/15)
Comment: The growth is obvious with TSE and well priced in already

Exit of BIGC only small impact – VGI believes terminating the contract with BIGC will have only small impact to earnings at 5-8% and it is finding new business to offset this. (Khao Hoon, 29/04/15)
Comment: According to analysts, the loss of BIGC while decreasing earnings for VGI and taking a good part of the story away from the company, does imply that margins should look much better

  1. Jonge. Would it save time to list those companies who are Not diversifying into solar, bio, property/condos/residential and, possibly, non-GMO nuclear-free homeopathic beauty aids (yeah, I know they’re rolling in it) and other equally appropriate fields of dreams and/or endeavour.

    Might it be the case that such diversifications involve Big Trouble Right Here In River City on the learning curve side? As I sit here, GE in the states are divesting themselves of their once ludicrously profitable banking side…until the roof fell in. Doing rather well, they are.

    I did a chart thingy on the “utilities” with that cool comparison button on Bloomberg and guess whose line came out on top. SPCG. MK was right up there in the property sector; and is still under book. Beauty, I didn’t check. I don’t even look at mirrors.

    But maybe it’s just me. They used to say, coupla hundred years ago: “Keep your eye on the ball, kid. Or I’ll come over there and kick your ass.”

    (I realize Berkshire Hathaway is…Berkshire Hathaway. How may Buffetts out there in LOS?) You notice I have not mentioned a certain (former?) Big Agro firm here because I’m a nice guy.

    • A friend did just compile a short list of these names I’ll post it later.

      Well the renewable projects are just that attractive at the right adders that it really was a no brainer to get into them if one had the necessary connections.

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