BJC
To decide on Metro Vietnam purchase today — BJC will hold its shareholders’ meeting today to consider the acquisition of assets of Metro Vietnam under the new conditions. The IFA states that shareholders should disapprove the purchase as the new conditions pose too high of a risk. (Kao Hoon, 08/01/15)
Comment: Despite the IFA’s comments I would expect the deal to go ahead, don’t think its great for shareholders in BJC in the short term, but in 20 years from now we may all look back and say “Yup that was a good move”

BLISS
Clarifies PP — BLISS has issued a statement to clarify the inquiry on the capital increase through the private placement to three groups. The company said that although the issuance price is higher than the fair value of Bt0.0793 this will have an insignificant impact on management and the proceeds raised will be used to accommodate business expansion, repayment of loan and as working capital in 1Q15. The company targets 2015 revenues at Bt2.6bn. (Kao Hoon, 08/01/15)
Comment: A guaranteed stock manipulation coming up here.

CGD
CGD partners with Four Seasons Hotel and Resort to develop a new project worth Bt32bn. The official launch will be held this month and construction is expected start at the end of 2018. It said that the project will be first private residence to be located on the riverside in Asia. (Kao Hoon, 08/01/15)
Comment: So the project will finally start – only took them 9 years

CHO
CHO waiting to sign a Bt1bn new project with the navy in 2Q15. CHO’s shareholders have exercised 45mn units of CHO-W1. Management reaffirms that there will be no dilution next time. For 2015, the company targets revenue growth of 10% supported by its current backlog of Bt600mn. (Kao Hoon, 08/01/15)

JMT
JMT says 2014 profit will surge 40-50% as the company has steadily bought bad debt and expanded its portfolio to the largest level ever seen. In 2015, net profit is expected to grow 30%. The company targets buying Bt30bn more in bad debt to manage further. It expects debt portfolio under management to increase to Bt95bn by the end of the year. (Kao Hoon, 08/01/15)
Comment: The issue for JMT’s number’s is that they continually have to buy debt in order for earnings growth. Why – whenever you buy bad debt at say 5% of notional value, normally you can recover 2-5% of the notional value very quickly hence the earnings growth, but the remaining portion of the notional value may take up to 7 years, still a great IRR but it doesn’t look great on a earnings growth basis.

MODERN
The company target revenue growth of 15% in 2015 with net profit to grow at a higher rate than 2014, supported by its expansion into new markets. In 2014, it expects revenue growth of 10% from the previous year’s Bt3.6bn and for net profit to grow at record high at above 10% from the previous year’s Bt420.49mn supported by the booking of extra gains from the sale of MFEC shares. (Kao Hoon, 08/01/15)

PTT
PTT happy with energy policymakers’ approval of the new formula for calculating retail prices of LPG that will reflect the current cost of US$448 a ton. The new formula will come in effect on Feb 2, 2015. This should help increase PTT’s net profit instantly by at least Bt4bn, making it possible for net profit for the year to reach Bt100bn. (Kao Hoon, 08/01/15)

STEC
STEC acquires shares of Susco Lubricants Co., Ltd for Bt12mn. The acquisition is expected to help support the company’s business operations. (Kao Hoon, 08/01/15)
Comment: A small small small net impact on STEC

TPCH
TPCH will start trading today with prices speculated to go up to Bt15.00/share from its IPO price of Bt12.75/share. For 9M14, net profit jumped by 390%. The company also said that by 2017 total production capacity is expected to reach 100MW. (Kao Hoon, 08/01/15)
Comment: Well its another renewable energy name, just watch the big jump