BEAUTY expects 2015 revenue and net profit growth of 20% YoY as it will invest Bt150mn in a warehouse and employee development and Bt150-180mn in new branches. (Kao Hoon, 27/11/14)
Comment: The only consumer name in Thailand that has had positive SSSG, a growth machine, a cash machine its positively surprised me, shows how much I know about the cosmetics industry

DTAC urges clear-cut strategies and goals — Pooling infrastructure an essential basis. The government needs to establish clear-cut national strategies and goals for the development of the digital economy if it wants the initiative to get off the ground, says the head of Total Access Communication. Focusing only on the implementation process will not guarantee success, said Sigve Brekke, interim chief executive of DTAC, the country’s second-ranked mobile operator. (Bangkok Post, 27/11/14)
Comment: The news regarding TOT selling its stake in DTAC had pushed the stock price down to levels where the dividend yield is now 6%+

GFPT confident export sales this year will grow 15-20% to growth of 8-10% in 2014 revenue, as targeted. 4Q14 earnings are expected to jump due to lower costs. (Kao Hoon, 27/11/14)
Comment: 2014 numbers were comfortably going to beat 2013 with the rebound in chicken prices

Expects to set up infrastructure fund this year — JAS is confident that it will be able to start selling its infrastructure fund, JASIF, worth Bt55-57.75bn within this year. The fund guarantees a dividend of 8.59-9.02%. It also said that there are no lawsuits involved in the assets sold to the fund. Next year, the company expects revenue to grow by 30%, driven by broadband internet users that are expected to reach 2mn. (Kao Hoon, 27/11/14)
Comment: Yes the fund is going ahead proved me wrong, although the value of assets has been cut in 1/2 and the fund size has remained the same with such a high yield.

SEC starts counting day 1 on KCM’s filing. KCM plans to sell 200mn IPO shares on mai within 2014. The company will use the funds for working capital. Management is confident that the company has growth potential after adding new branches and entering into the ready-to-move-in building lease market. (Kao Hoon, 27/11/14)

MATCH expects 4Q14 to be in the black from a net loss of Bt11.95mn in 3Q14 due to higher demand for equipment leasing. The company is confident that 2014 revenue will grow from 2013’s Bt690.77mn. The company will open a new studio in mid-2016. (Thun Hoon, 27/11/14)

MTLS closed at Bt11.90/share, up 116% from its IPO price. Management said that it targets its loan portfolio to reach Bt26bn within three years. It will expand into nanoFinance. Management said the company has strong fundamentals with a high coverage ratio of up to 280%. (Kao Hoon, 27/11/14)
Comment: Arguably the king of the industry

Court says NO to PP — The Southern Bangkok Civil Court has banned NOBLE from offering 200mn PP shares and has also ordered the SET to refuse to register the new shares, as it has no need to increase capital. (Kao Hoon, 27/11/14)

PCA says 4Q14 will be strong driven by higher completion of work, plus higher sales of digital TV boxes. The company expects net profit this year to reach a new high since the company was established given that 9M14 it has already shown net profit of Bt48.45mn. Next year revenue is expected to jump by 20%. (Kao Hoon, 27/11/14)

SEC starts counting day 1 on PSTC’s filing. PSTC plans to offer 450mn shares on mai. Management expects the company to be the leader of electrical system management and renewable energy businesses. (Thun Hoon, 27/11/14)

SC confident in new high for revenue and net profit in 2014 from revenue of Bt10bn and net profit of Bt1bn in 2013. The company has backlog of more than Bt10bn which will be booked in next 2-3 years. The company is waiting to book revenue from a condo worth Bt2.2bn and lease an office worth Bt900mn in 4Q14. (Thun Hoon, 27/11/14)

TRT expects 4Q14 revenue to reach Bt1.3-1.4bn, bringing total revenue for the year to reach its target of Bt2.6bn. It reports more than Bt3.112bn in work of work on hand. It has signed a purchase contract for transformers with the Metropolitan Electricity Authority worth Bt251mn. (Kao Hoon, 27/11/14)
Comment: In theory this should be a safe dividend payer but with the changes in government TRT (and QTC) were hurt by the lack of new projects. Perhaps a rebound play on the cards?

True in call centre overhaul — True Corporation has overhauled its core contact centre infrastructure with a Bt5bn budget in a move to address the ailing customer satisfaction record industry-wide. The outlay is also aimed at handling increasingly sophisticated convergent services as well as much higher call volumes, said Carl Goodier, chief of customer service for True. (Bangkok Post, 27/11/14)

TSR expects 2015 revenue of Bt1.5bn, +25% YoY from 2014’s Bt1.2bn. The company plans to add five new branches to support business growth. (Kao Hoon, 27/11/14)

VPO reaffirms its strong fundamentals and its focus on bringing in bottom line profit (rather than top line revenue). It targets earnings growth of 30% next year supported by higher palm production and loan repayment, which help lower financial costs by more than Bt20mn per year. It expects 2014 earnings to be similar to that of 2013. (Kao Hoon, 27/11/14)

    • Still a good yield @ these lvls, plus whenever the NBTC decides on the spectrum (and hopefully they won’t be stupid about it) DTAC’s and ADVANC’s earnings/divvys can grow @ 10-15% a year again.

  1. Pon, is it possible for you to do a piece on the energy markets? seems like a rollercoaster ride. I am a bit concerned that depressed energy prices particularly oil will drastically reduce the dividend yields of large cap blue chip energy stocks.

    Thanks Xav.

    • I’m still shorting oil 🙂 and have put’s on the names such as PTTEP and TOP. If you want to think like a conspiracy theorist 1) saudi’s help US hurt russia; 2) saudis ensure that all this shale oil and alternative energies become useless on a cost comparative basis 4) The last time they did this (90s) they then enjoyed 10 years of high prices 5) This is actually a great thing for Thailand b/c its a net importer of oil.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.