2H13 to be good — AP expects second half performance to be strong and will book revenue of Bt10bn from its backlog of more than Bt30bn. It expects sales in 2H13 to reach Bt13bn. It has raised the number of project launches this year to 28, a total value of Bt32bn. (Khao Hoon, 11/09/13)

Comment: Generally don’t like property stocks, with AP its no different


15-20% sales growth this year — BJC expects sales for the year to grow by 15-20% after the planned expansion of its distribution channels and greater focus on international markets, especially for retail sales. Deals in Laos and Myanmar will be concluded in 4Q13, and in Vietnam in 2014. (Khao Hoon, 11/09/13)

Comment: Stock price is still absurdely expensive


BMCL is looking for solutions to raise more capital — Management says BMCL is looking for ways to raise cash and has also completed its negotiation on the repayment of debt worth Bt10bn with four banks, KTB, TMB, BAY, and KBANK, and said that it will pay 4% interest, with principal repayment to start only after the Purple line is completed. (Khao Hoon, 11/09/13)


CP: May buy Saha Farm Group. According to local press reports, CP is rumoured to be interested in taking over the financially-ailing Saha Farm Group (Thailand largest chicken farm operator). The group, heavily in debts (over Bt30b) with both bank creditors and suppliers, is suffering from a severe liquidity problem which led to a shutdown in its operations recently. This has caused concerns among creditors, especially KTB which has lent nearly Bt10b to the group. If the rumour is true, this will be positive news for KTB.(Source: Khao Hoon)

Comment: Clever company, first dump chicken prices so low in 2012 so that Saha Farm teeters on bankruptcy and now try to buy them so as to get their assets cheap.


Raising revenue target — PS said it is raising target revenue from the current Bt34bn after the release of 3Q13 earnings. It expects net profit of no less than Bt5bn with revenues of Bt24bn from units sold and waiting for transfer worth Bt42bn in the second half of the year. (Khao Hoon, 11/09/13)


Cuts revenue target — SENA has cut its revenue target for the year down to Bt1.7bn from Bt2bn due to delay in transfers. Sales were also below expectations of Bt2.5bn due to delays in projects. The company expects to book revenues of Bt1bn in 2H13. (Khao Hoon, 11/09/13)


Gets SEC okay for infrastructure fund — SPCG said the SEC has given it the green light for its infrastructure fund worth Bt5.6bn. It expects the booking period to start mid-Oct. The company also raised its target revenues for the year to Bt3bn as it will be booking revenues from the solar roof project of Bt1bn in 4Q13. (Khao Hoon, 11/09/13)

Comment: I hate the solar industry in general, however I can see the story that this stock has playing out for it.


Bidding for total of Bt70bn in jobs — TTCL plans to bid for both domestic and international projects with a combined value of Bt70bn and expects to get Bt20bn in work this year, boosting work on hand of Bt32bn. It said it also plans to ask for two solar farm rooftop projects with a capacity of 10MW and 20MW. (Tun Hoon, 11/09/13)

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