AP, Mitsubishi lay out plans – Mitsubishi Estate Group (MEC), one of Japan’s largest developers, plans to launch three to four residential projects next year in partnership with SET-listed developer AP (Thailand) Plc to capitalise on the recovering economy and improved political climate. “Thailand’s fundamentals such as long-term economic prospects and people’s income remain sound,” said Shojiro Kojima, managing director of affiliate Mitsubishi Estate Asia (MEA). “Our investment is truly for the long term.” (Bangkok Post, 24/09/14)
Comment: It’s a good plan for AP, lightens their balance sheet while still being able to continue expansion

Channel 3 talks fail, BEC may sue — The second round of talks to end the dispute between Channel 3 and the broadcasting regulator was another failure, and Bangkok Entertainment Co, holder of the analogue channel’s concession, is mulling legal action. (Bangkok Post, 24/09/14)
Comment: BEC is still facing a potential blackout

CITY sets revenue FY2015 growth target of 5-10% backed by an increase in its customer base. It plans to invest Bt50mn into maintenance and repair on its machinery. It has set up a subsidiary in Hong Kong and hopes to create a brand image for its electronic appliances. The board is also studying plans to expand into alternative energy. (Thun Hoon, 24/09/14)
Comment: CITY is a well-run little company that used to be a very straightforward 5-10% growth with a decent dividend.

DNA partners with One Box Home to penetrate set-top box market. It will start distributing its own free coupons for equipment to set up digital set-top boxes at all its branches, supplementing the digital coupons from NBTC. It aims to sell 500,000 boxes this year, which should help push revenues up by Bt300mn. (Thun Hoon, 24/09/14)
Comment: I’ve had a close look at all these set-top box sellers, and I just dont’ see how any of the stocks are justifying any of their valuations

GEL expects 30% revenue growth in 2014 from last year’s Bt1.6bn. It said earnings will jump further in 2015 after it finishes its restructuring plan for marketing its concrete products and strategy for constructing factories in 1H14. It also plans to get a partner to build a concrete factory in Myanmar. It said it might pay a dividend. (Thun Hoon, 24/09/14)

HTECH: 2014 revenue to reach its target of 10-15% supported by steady expansion abroad. It expects 2H14 to be better than 1H14. It has also revealed its strategic customer base expansion plan. Earnings for 3Q14 will be strong. (Kao Hoon, 24/09/14)

InTouch, Kantana set up TV content firm – InTouch Plc, the parent firm of mobile leader Advanced Info Service, has entered into a joint venture with television production house Kantana Group to produce entertainment programs that will serve rapidly rising demand from digital TV channels. The 50-50 joint venture, called Joint Venture Kantana and InTouch Co, has been set up between Kantana and InTouch Media, which is 99.99% owned by InTouch, formerly known as Shin Corporation. (Bangkok Post, 24/09/14)

Nok Air introduces free broadband gimmick — Nok Air will begin offering what it claims to be the first free in-flight broadband connectivity in Asia for passengers. The service is available on only one of its 16 existing B737-800 jets on a trial basis, as the airline tries to differentiate itself from rival carriers. (Bangkok Post, 24/09/14)

Platinum eyes IPO to fund projects —Platinum Group Plc, the developer of Platinum wholesale fashion mall in Bangkok’s Pratunam area, plans to seek a stock listing early next year to finance four new projects. The company has not disclosed its fund-raising target, saying only that 700 million shares will be floated to the public, representing 25% of total registered capital. (Bangkok Post, 24/09/14)
Comment: Just head over to the SET’s & SEC’s website to see the filings.

Subsidiary gets job to construct LPG terminal — TAKUNI reports that one of its subsidiaries has been awarded a new project to construct a LPG terminal for World Gas (Thailand) Co., Ltd worth Bt137mn. It is confident that revenue and net profit this year will grow. (Kao Hoon, 24/09/14)

TIPCO enjoys higher fruit juice demand in 2H14 due to the vegetarian festival and New Year. It is confident that 2014 revenue growth will be at least 10% YoY as it continues to expand its client base. TIPCO is preparing to launch a new 100% fruit juice to keep its #1 position in the fruit juice market. (Thun Hoon, 24/09/14)
Comment: TIPCO has an investment holding in TASCO (Which everyone in the market knows), so essentially you can buy the stock and get half of its business for free with its current valuation.

TK expects 3Q14 performance to recover as demand for motorcycle loans is expected to accelerate supported by harvest season. It expects its loan portfolio will be Bt9bn in 2014 and NPLs to be less than 5%. (Thun Hoon, 24/09/14)
Comment: IF this is the case then positive numbers should be expected for GL, TK, MIDA, SINGER, THANI, ASK (essentially all the leasing co’s)

TKS continues to bid new projects as demand for printing work will surge in late 2014. It expects to obtain the coupon printing project from NBTC in October and estimates a new high for net profit in 2014 upon 15% revenue growth YoY. (Thun Hoon, 24/09/14)

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