AOT

AOT says political unrest is pressuring operations. Passengers in Suvarnabhumi fell 9% but passengers at provincial airports increased supporting it operation. Foreign funds request its business plan to decide whether continue to invest or divest. (Khao Hoon, 05/03/14)

Comment: So as we’ve commented in the past, Bangkok is hurt yes, but the rest of Thailand is still growing

BBL

BBL warns of flat Q1 loan growth – Bangkok Bank, Thailand’s largest lender by assets, expected flat growth in its corporate lending during the first quarter of this year amid internal and external uncertainties, reinforcing signs of weak demand in private investment. (Bangkok Post, 05/03/14)

CPALL

CP All projects 15% revenue gain – CP All (CPALL), the operator of 7-Eleven convenience stores in Thailand, targets 2014 revenue growth of 10-15% driven by its branch expansion plan as its business remains resilient to the ongoing political conflict. It is also counting on a full year of income from Siam Makro (MAKRO) following CP All’s acquisition of the cash-and-carry chain. (Bangkok Post, 05/03/14)

Comment: Only CPALL and MAKRO are still committed to growing this year in the consumer space, perhaps this + the refinancing news will remove the over hang on the stock price. 

HMPRO

HMPRO projects 15% sales revenues growth this year. The company will open eight new branches, 2-3 Mega Homes and a branch in Malaysia, worth a total of Bt8-10bn. It will also hold the “19th Homepro Expo” on March 14-23 and it expects the event to bring in total sales of Bt500-600mn. (Khao Hoon, 05/03/14)

KTC

KTC expects 2014 net profit of Bt1.3bn driven by the strong growth in credit card and personal loans of 15%. It targets new credit card members to increase by 400K this year. It will also issue 3-5-year bonds worth Bt11bn mid-year. (Khao Hoon, 05/03/14)

Comment: It’s a highly competitive segment that KTC are involved in, they think they can beat all the banks, we have our doubts.

PF

PF says presales for the first 2 months reached Bt1.7bn higher than last year’s, despite the political turmoil. It targets Bt1.8bn in presales from its brand, “Perfect Masterpiece” this year and aims to set up a REIT worth Bt500mn in August. (Khao Hoon, 05/03/14)

ROBINS

Robinson reveals expansion details – Robinson Department Store Plc will spend Bt15.45bn to open new branches at home and abroad over the next three years. Some Bt6.05bn under the plan, which starts this year, will be used to open five department stores in Thailand and renovate four existing stores at Fashion Island, Sukhumvit, Rangsit and Jungceylon in Phuket. (Bangkok Post, 05/03/14)

TISCO

TISCO expects 2014 loan growth at 10% YoY from 17% YoY in 2013. It believes that political easing will benefit the loan market. It says retail loans are diminished, so it will focus on big retail loans. It expects to keep NPLs at not more than 1.7% and NIM at 3%. (Khao Hoon, 05/03/14)

TRUE

True Move to end 2G mobile service if it wins auction – True Move, the country’s third-largest mobile-phone operator, says it will shut down its second-generation (2G) mobile service if it wins a spectrum at the auction in August. Suphachai Chearavanont, chief executive of True Corporation, the parent firm of True Move, said the company hopes to win an auction of licenses for 25 megahertz of bandwidth on the 1800-MHz spectrum in order to strengthen its 3G wireless broadband network and services. (Bangkok Post, 05/03/14)