Bangchak eyes non-oil sales, renewables – Bangchak Petroleum Plc (BCP), a majority state-owned oil refiner and retailer, has earmarked Bt10bn to develop its refineries and expand into non-oil business next year. President Vichien Usanachote said apart from refinery upgrades, Bangchak had looked at non-oil business as a means to rely less on oil revenue, as the retail margin was “really slim”. The company will likely invest Bt5bn a year, he said. (Bangkok Post, 16/12/14)
Comment: The news around BCP’s share price still continues to 1) PTT selling its stake, and 2) The drop in oil prices.

Capital increase for PP approved — On 12 December 2014, the board approved a capital increase of 16bn shares at a price of Bt0.105/share, close to par value of Bt0.1/share, via private placement to 12 investors. The company will ask shareholders to approve the plan on 9 January 2015. (Kao Hoon, 16/12/14)
Comment: The shares aren’t even trading at the moment, a relisting in the future perhaps.

BTS ready to book Bt338mn from the OTP’s plan to sign the implementation of joint ticket system this month. Last survey, the Blue Line extension is expected to start its operations 2018. (Kao Hoon, 16/12/14)
Comment: Why the authorities haven’t gotten together to figure out a one card system is beyond me.

DTAC taps smart farming – The next generation of telecommunications networks and agricultural-related apps will allow more farmers nationwide to run their farms more efficiently via easily accessible web tools, says Total Access Communication (DTAC). Leveraging the advent of the digital economy, the country’s second-largest mobile operator is upgrading its agrarian apps and online payment system to make farming smart. (Bangkok Post, 16/12/14)

IFEC to sign PPA with Cambodia government for its 20MW solar farm on December 18. This will go to the board for approval of the investment budget on December 22. It expects construction to commence 1Q15. It will invest Bt227.91mn to acquire 100% shares in Isenergy Co., Ltd. (Kao Hoon, 16/12/14)

FA selected — FAX’s board has approved the appointment of Grant Thornton Services Limited as Financial Advisor (FA) for the due diligence of Siamese Asset Company Limited (SA). It expects the takeover deal to be completed early next year. It plans to set up a subsidiary to invest in alternative energy business. (Kao Hoon, 16/12/14)
Comment: Since the news that the SET/SEC postponed the backdoor listing, MAX’s stock price has dropped some 50%.

MTLS expects revenue to grow 300% over the next three years. Next year, it expects loan growth to exceed Bt16.5bn supported by nano finance in the retail segment. It said it is confident in the quality of the more than 700,000 accounts that it has. (Kao Hoon, 16/12/14)

NDR planning to list on mai with IPO shares of 65mn. It will use the funds to repay debt and as working capital. The company expects its D/E ratio to be 1x from currently at 2x after the IPO. (Kao Hoon, 16/12/14)

SC launches newest project, Grand Bangkok Boulevard Sathorn, offering a new three storey house in a “modern luxury style@ located on the Kalapapruek road. The project offers 132 units on more than 50 rai. Total project value is Bt2.5bn with house prices starting from Bt17-30mn. (Kao Hoon, 16/12/14)

THCOM signs loan agreement for Thaicom 8. Management plans to launch Thaicom 8 in 1H16 to support growing demand from clients. (Kao Hoon, 16/12/14)

TREIT sells units worth Bt3.4bn and will begin trading on 9 January 2015. The company expects yield of 7% in the first year as it has stable rental revenue. It aims to sell another asset to the fund after a partnership with Mitsui. (Kao Hoon, 16/12/14)

TWZ says 2014 revenue will exceed its target of Bt4bn supported by the high season in IT product sales in 4Q14. It said that next year’s marketing plan will focus on quality and variety. It targets more revenue from the digital life products segment and plans to increase its selling channels. (Kao Hoon, 16/12/14)

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