BAFS maintains revenue growth of 10% in 2014, even though it has reduced volume growth of refueling services to 4.5% YoY from 5% YoY after raising refueling services fee. It will invest in the fuel pipeline for Phase 2 of Suvarnabhumi and will conclude its investment plan in Myanmar and fuel pipeline project in north and central Thailand in 2014. (Khao Hoon, 30/05/14)

Comment: BAFS has always been a good dividend growth play, and if the airport expansion goes ahead with Suvaranbhumi then this company will grow along with it as well.


BJC expects revenue growth QoQ in 2Q14 due to a clearer political situation. It maintains revenue growth target of 10-15% YoY in 2014. It will continue its investment plans of Bt5bn to bring the proportion of overseas revenue to 50% by 2018. (Khao Hoon, 30/05/14)


CHOW announces solar power plant of 18MW worth Bt1.8bn in Japan, expected to finish and revenue booked in 3Q14. Management says that it is investing in solar energy to support business and increase equity value in the long term. (Tun Hoon, 30/05/14)

Comment: Another renewable energy play! Add it to the list of EA, SPCG, BCP, DEMCO, IFEC etc etc


Recovery to boost 2Q14 — Kwanchai Nuttased expects business recovery to boost 2Q14 revenue and net profit after the easing of the political turmoil. It expects to achieve revenue growth target of 10% YoY. It will increase its share of the consumer market. (Khao Hoon, 30/05/14)


DTAC joins with HTC to launch HTC Desire 816, a low price smartphone, to support TriNet 4G and access the teenage market. It expects total active smartphones of 1.5mn in 2014. (Khao Hoon, 30/05/14)


KBank sees rebound in SME loans – Loan demand from small and medium sized enterprises (SMEs) has improved slightly, particularly for those in farming businesses following rice pledging payments. The payouts have restored consumer confidence and spending, says Kasikornbank’s executive vice president Patchara Samalapa. (Bangkok Post, 30/05/14)


Expects revenue growth QoQ in 2Q14 — Montri Sornpisarn, CEO of MBKET, says revenue and profit in 2Q14 will beat 1Q14’s Bt707mn and Bt128mn, respectively, backed by recovery in average turnover to Bt30-40bn per day. It expects the political situation to continue to ease. (Khao Hoon, 30/05/14)

Comment: Daily turnover has improved a lot since the doldrum period a few months ago when it was down to THB 30 bn lvls.


THANA says large orders in 2Q14 to boost sales growth. It says current backlog has reached Bt200mn from Bt120mn. It is confident that revenue will increase 10-15% YoY in 2014 from Bt729.41mn in 2013. It is ready to launch new projects. (Tun Hoon, 30/05/14)


TTA back in profit after cutting costs – Thoresen Thai Agencies Plc (TTA) expects to maintain profitability in the latter half of the year as the low season for its shipping and energy business comes to an end. (Bangkok Post, 30/05/14)

Comment: If TTA has a massive amount of Overhead Costs, just go to their offices you see empty spaces everywhere, not a sign of a well managed co.


TUF maintains revenue target of US$4bn and is confident that orders will increase sharply in 3Q14, the high season. It expects recovery in the shrimp business and believes the tuna margin will remain stable. It will invest Bt3.5bn to adjust factory and add machines. It expects to do an M&A. (Khao Hoon, 30/05/14)


UV maintains revenue growth of 50% YoY to Bt9bn and expects more than Bt175mn net profit. It has backlog of Bt4.3bn and land purchase budget of Bt3.8bn. (Khao Hoon, 30/05/14

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