Subsidiary sells shares in Save Drug — BGH says wholly owned Royal Bangkok Healthcare Co, Ltd. has signed an agreement to sell all shares of Save Drug Center Co, Ltd., for Bt380mn. (Kao Hoon, 21/08/14)

BLAND expects to sell the first REIT (for Impact Arena and Convention Center) worth Bt20bn on 8-19 September and do a road show on 1 September. It plans to use the funds for the second phase of Impact; it will book extra income of Bt3bn. (Kao Hoon, 21/08/14)

BMCL expects lower 2H14 net loss and will be in the black from 2016 after the Purple Line begins operating. Management expects revenue growth of 10-12% YoY in 2014 due to higher ticket price and passenger traffic growth of 6-8% YoY to average 260,000-270,000 persons per day. It is preparing to purchase rolling stock and ticket vending machines worth Bt2bn. (Thun Hoon, 21/08/14)
Comment: Hence why the stock price is pricing it in already, Thailand is wonderfully forward looking

CK expects revenue boost from state megaprojects – SET-listed Ch. Karnchang Plc (CK), Thailand’s second-largest construction firm in terms of capital market value, expects annual revenue will exceed Bt40bn after 2015 thanks to the junta’s planned Bt2.4trn infrastructure investment. (Bangkok Post, 21/08/14)
Comment: CK, STEC and ITD should all benefit from the infrastructure investments, the interesting plays are with the smaller companies such as CNT, NWR, PYLON, SYNTEC to see if they will get the subcontracting jobs from the big 3

KBANK to focus on property market after loans grew 1-2% YoY in 7M14 vs. 2014 target of 6% YoY. It expects huge property transfer in 3Q14-4Q14 and targets NPLs at not more than 1.6% YoY. It is also interested in provincial property. (Kao Hoon, 21/08/14)
Comment: The relationship between the top property developers and the top commercial banks is arguably oligopolistic in nature, not that they would ever publicly admit to it

IRPC to set up JV with PTTGC to set up a petrochemical plant. The company may face stock loss in 2H14 as crude oil price has declined. (Kao Hoon, 21/08/14)

Minor adds 8 African hotels to portfolio – Africa’s positive tourism and economic outlook has prompted SET-listed Minor International Plc to pay US$63.9mn for eight more hotels on the continent. Minor had secured a deal with South Africa’s Sun International, which wanted to dispose of a portion of its hotel operations in Botswana, Lesotho, Namibia, Swaziland and Zambia. (Bangkok Post, 21/08/14)
Comment: Becoming less and less a Thailand only play.

PTTEP ready to pump up sales growth – SET-listed PTT Exploration and Production Plc (PTTEP), Thailand’s sole publicly listed petroleum explorer, maintains a sales growth projection of 10% in the second half, up from 5% growth in the first half. Penchun Jarikasem, executive vice-president for finance and accounting, said the company will push for further sales volume to support its revenue for the rest of the year. (Bangkok Post, 21/08/14)

SPCG plans to obtain 20-25% of total 1445.36MW solar projects outlined by the Energy Policy and Planning Office. It is ready to do two JVs in Japan, total 150MW, with 10% ownership. It expects revenue of Bt3.5bn in 2014 and Bt1.8-2bn in 2H14. (Kao Hoon, 21/08/14)
Comment: Little do people know that Thailand is the largest Solar player in SE Asia, and its because of this that companies such as SPCG (Demco, EA et al) are able to invest in solar projects in Japan.

TOP expects slowdown in 3Q14 due to low season for the refinery business. The company expects recovery in 4Q14 and plans to cooperate with PTT to bid for a refinery improvement project in Myanmar. (Kao Hoon, 21/08/14)

Exotic Food PLC. (XO) says it has received good response from investors at its sale of 70mn IPO shares to the public during 18-20 August 2014 at Bt2.2 per share. (Kao Hoon, 21/08/14)


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