Writing off treasury stock — BANPU announced it will decrease registered capital by writing off the repurchased registry shares worth Bt135.6mn. The decrease will boost EPS and DPS by 5%. (Khao Hoon, 25/12/13)

Comment: Well that’s an easy way to boost EPS


BEC concerned and political situation — It will boost ad rates and invest more than Bt1bn to produce and buy new content. The results of the bidding for digital TV are expected on Dec 26-27. (Khao Hoon, 25/12/13)


Yesterday’s disruption technical not political — BTS said the disruption to the skytrain service yesterday was due to a problem that occurred during the installation of platform screen doors at skytrain stations, which caused the signal control system to malfunction and that it had nothing to do with the current political conflict. It estimated that Bt5mn in revenue was lost. (Khao Hoon, 25/12/13)

Comment: And the day before they had their best revenue ever

ERW ERW not concerned about political unrest —ERW expects 2014 revenue growth of 13-15% with a focus on overseas clients. It will invest 13 new hotels worth Bt2.5bn to bring total rooms to 5,290. (Tun Hoon, 25/12/13)

Comment: And we still think a pickup in the occupancy rates next year is possible


Backlog bulked up by Mozambique projects — ITD backlog increased by Bt250bn after it signed a concession contract for the railway and the port in Mozambique worth Bt120bn. It is looking for a partner for the project by selling 70% of the share while it will invest US500mn. It said there will be no capital increase. (Khao Hoon, 25/12/13)

Comment: ITD, we think, has an incredibly stretched balance sheet still today.


Refinancing — IVL has obtained a loan of US$1bn and is preparing to refinance an older debt. It is ready to do business in the US. (Khao Hoon, 25/12/13)


New orders from China — OCEAN signed new orders from a Chinese customer worth Bt50mn, to begin in 2Q14. It has revised up its revenue growth to 30% from the initial target of more than 20%. It aims to increase production and expand into other markets abroad. (Khao Hoon, 25/12/13)


Subsidiary to by 25% in Myriant — A PTTGC subsidiary will buy a 25% stake of Myriant shares to bring its shareholding to 72%. This will support research and technological development of PTTGC. (Khao Hoon, 25/12/13)


Media business doing well — RS confirms its media business is doing well after a rebrand to COOLISM from Sky-Hi Network. It expects total 2013 revenue of Bt500mn. (Khao Hoon, 25/12/13)

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