BCP expects fall in profit in 1H14 because it plans to shut its refinery for 45 days, reducing capacity to 95K barrels. Revenue from solar farms will bring EBITDA to Bt9.6bn, stable YoY. (Bangkokbiz, 13/2/14)

Comment: A potential trading opportunity if anything


DPS Bt2.55 — BIGC will pay a dividend Bt2.55, XD on 17 April. Its 2013 net profit was Bt6.97bn with revenue of Bt118bn, +14.8% YoY and 5.4% YoY, respectively. It is preparing to add new branches to bring the total to 212. (Khao Hoon, 13/2/14)

Comment: A 1.5% dividend yield, declining growth outlook. We haven’t been interested in this for a long time


2013 profit falls on asset impairment — DTAC reported a drop in 2013 net profit and it is not paying a dividend for the first time. The fall was caused by booking asset impairment. Management expects intense competition and revenue growth of 3-5% this year. (Bangkokbiz, 13/2/14)

Comment: Similar to BCP above, a potential trading opportunity


KBANK to help clients suffering from political situation by sector, especially tourism and agriculture. It is preparing Bt2bn to help the tourism sector. (Bangkokbiz, 13/2/14)


Nok Air announces commitment to order 15 Boeing aircraft – Boeing says Thai budget carrier Nok Airlines has committed to order 15 B-737 jets in a deal valued at US$1.45bn, the latest order from fast-growing low-cost carriers in Southeast Asia. (Reuters, 13/2/14)

Comment: We don’t quite understand what NOK is doing, leasing like AirAsia is makes far more sense.


PTT uses TOP to expand in ASEAN — It is working with Pertamina in the WAX business in Indonesia. It is ready to develop a refinery in Myanmar and is investing in improvement in TOP’s refinery unit. It will release its 4Q13 financial performance today. (Khao Hoon, 13/2/14)

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