AP is confident to achieve revenue of Bt22bn for 2014 vs. Bt17.13bn in 9M14, as a result of a recovering economy and rising consumer purchasing power, particularly landed properties. (Kao Hoon, 2/02/15)
Comment: The revenue growth is misleading because they have multiple JV projects, thus not all the recognised revenue %’s go straight to the bottom line

CENTEL will close JV deals of two hotels in ASEAN in Vietnam and Myanmar by 1Q15. It expects revenue to reach Bt22bn this year, backed by the tourism turnaround. It will spend Bt1bn to expand its food business. In 2014, its revenue was Bt18bn. (Tun Hoon, 2/12/15)

CK got a credit rating upgrade to A- from BBB+ for its new debenture worth Bt4bn, by TRIS, helping to ease its cost of funds. The new debenture will replace the old one and support business expansion. (Post Today, 31/1/15)
Comment: Plus with its new structure, all of its subsidiaries should, in theory, receive higher ratings as well

CKP to finalize JV for hydropower plant with a capacity of 160MW in 2Q15, which will boost its capacity from the current 750MW. The company is studying a waste power plant. It expects to grow revenue to Bt7.35bn this year. n addition, it will benefit from Xayaburi Power project. (Tun Hoon, 2/2/15)

DEMCO expects backlog and net profit to increase substantially in 2015 from continued flow of projects. The latest two projects include infrastructure projects in Laos worth Bt1bn and construction of a wind power plant at Khao Khorr worth Bt1bn. It is also close to signing an agreement with EA worth Bt1.7bn. Its projects on hand are totally worth Bt8bn comprising its current Bt4bn backlog and Bt4bn new projects awarded at the beginning of this year. (Kao Hoon, 2/02/15)
Comment: Again the key issue for Demco is the holdings in WEH and the progress of its IPO.

EPCO expects to realize revenue from the 7MW Japan power plant in 3Q15 and will expand power plant business into Malaysia and the Philippines to increase capacity to 20MW per year. In addition, its printing business is expected to have at least 10% revenue growth from an expansion of client base. (Tun Hoon, 2/2/15)

EPG will benefit from a fall in oil and petrochemical prices as it has to import petrochemical products as its raw material. (Kao Hoon, 2/02/15)

FIRE targets to increase revenue by 15-20% in 2015 vs. 10% for 2014. It will open a new branch in Rayong to expand its client base in the petrochemical, oil and power plant business. It has been selected as a distributor for fire extinguishers from Spain and is in negotiations with a foreign partner to import 2-3 products. (Kao Hoon, 2/02/15)

ILINK targets to grow net profit by 10% in 2015 from an estimated Bt220mn net profit in 2014. It also targets to increase revenue by 15% to Bt2.8bn from Bt2.5bn in 2014. (Kao Hoon, 2/02/15)

MPIC expects to turn up to profit in 2015 after several years of loss, as a result of no more write-offs as seen in 2014. Plus, it has a joint venture in two movie companies – M39 and Transformation Film that will make several Thai movies this year. (Kao Hoon, 2/02/15)

Still waiting for nano license — MTLS is still waiting for the Bank of Thailand (BOT) to issue nano-finance licenses as it believes the return from this business is interesting. For its existing business, the company continues to target Bt16bn in loans this year as demand for motorcycle financing remains high. The company also says it will keep NPLs below 1.6% and within 1Q15 will add at least 170 branches, especially in the South. (Tun Hoon, 2/02/15)
Comment: I haven’t had an indepth look at MTLS but I do like the sound of its business and its ability to grow with its distribution network and balance sheet

PACE expected its real estate business to do well with backlog worth Bt7bn, planning to launch one new project this year. It will also realize revenue from the food business after investing Bt4bn to acquire Dean & Deluca. (Tun Hoon, 2/2/15)

NGV losses to be eased — PTT says a hike in NGV price to Bt13/kg will ease its loss from selling NGV. (Kao Hoon, 2/02/15)

SALEE targets to increase its revenue for 2015 by 25% and to maintain its gross margin at 30%. (Kao Hoon, 2/02/15)

SCG CEO says company will pursue M&As domestically or internationally as it enlarges its core businesses, including construction material, petrochem, and paper. The company is planning to change its M&A strategy and purchase 70% in the target company rather than 100%. It will keep the existing management of the acquired company instead of replacing with a new management team. (Post Today, 2/02/15)

SPCG targets to have revenue no less than Bt5bn, increasing 25% from last year, mainly coming from its expansion into solar power both domestic and internationally and a full operations of 36 solar power plants with total capacity of 260MW for the first year. (Kao Hoon, 2/02/15)
Comment: The only solar company that has all of its plants up and running

THAI says losses in 2014 were due to a reduction in number of tourists. Its cabin factor was above 80% in January. Analysts say its outlook is better in next few years after completion of transformation plan. Its share price is below book value. (Tun Hoon, 2/02/15)
Comment: Transformation plan, meh, show me a cash profit then I’ll believe the dreams.

TMC interested in a Vietnam joint venture. The deal will be confirmed within this year. It expects to turn to profit this year, targeting revenue of Bt800mn. (Tun Hoon, 2/2/15)

TPCH targets to increase capacity by 50MW to 150MW in the next 3-5 years, expecting net profit to skyrocket for the next two years. (Tun Hoon, 2/2/15)

TRT is confident that it will have profit in 2014 from Hongsa Power Plant which started up in November-December 2014, despite a loss of Bt60.99mn in 9M14. (Kao Hoon, 2/02/15)

VNG targets to grow revenue by 15-20% in 2015 from Bt10bn in 2014, by adding more products this year. (Kao Hoon, 2/02/15)

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