BTC expects to be in the black in 2014 although it faced net loss of Bt35.53mn in 9M14 and a loss in 2013 of Bt235.64mn due to lower spending. The company plans to improve its profitability to bring performance back to profit and is ready to form a partnership. (Thun Hoon, 17/12/14)

To set up animal feed and swine ranch in Russia — CPF says Russia’s livestock depends on imports, so it plans to invest to set up a feed plant and swine ranch. Thailand recently exported pork to Russia for the first time. (Kao Hoon, 17/12/14)

EPG will start trading in the SET on Dec 24 at the IPO price of Bt5.80/share, a 20-30% discount from fair value. Subscription period will be from Dec 17 to 19. The company is confident that it will receive strong interest despite recent market volatility. (Kao Hoon, 17/12/14)
Comment: This looks like the same usual small IPO, perhaps its the last one for this year.

FORTH expects 2015 revenue of Bt5bn as it is ready to bid for Bt20bn in new telecommunications system projects in the public sector. It expects to obtain Bt4-5bn of those. (Thun Hoon, 17/12/14)
Comment: A great little company, but the real bonus is in FSMART

FSMART targets 30% revenue and profit growth next year. It has joined with Tune Insurance to allow provide service in making insurance payment through its Boonterm online top-up machines. It will also sign with CTH to sell package for Football Premier league worth Bt299 through its machines in 1Q15. (Kao Hoon, 17/12/14)
Comment: FSMART is a wonderful business, through its franchise system of the boonterm machines they’ve cleverly realised it can be utilised for other services versus just a top-up.

HEMRAJ sets land sales target next year of more than 1,400 rai. It will invest Bt6bn to expand both its industrial estate and its energy business. It will issue debentures worth Bt3bn in 2Q15 and it said that its new partnership will have no effect on the company’s plans next year. (Kao Hoon, 17/12/14)
Comment: Regardless of what happens with WHA, HEMRAJ is still the best industrial estate developer, plus with its power investments over half of income comes from utilities now.

InTouch expands funding for tech start-ups – SET-listed InTouch Plc has broadened its venture capital funding sources for tech start-ups by providing financial assistance through a debt-to-equity swap scheme. The new source of funds is expected to triple the number of its venture capital deals to 10 next year, said Thanapong Na Ranong, vice-president of InTouch. InTouch yesterday signed its latest deal with online game company Infinity Levels Studio, providing a Bt15mn loan under a debt-to-equity scheme. The loan will be used to develop an animal racing game, Ranch Run, scheduled to be launched next year. (Bangkok Post, 17/12/14)

MATCH expects 2015 revenue growth of 10-15% YoY from the more than Bt690.77mn expected in 2014, as media industry has recovered and the company will expand its client base. It is setting up a new studio that will operate in early 2015. (Thun Hoon, 17/12/14)

PSTC expects to be list in the mai on Dec 19 at the IPO price of Bt0.65/share. The company is confident that investors will show strong interest due to its strong fundamentals and growth potential. It currently has backlog of Bt317mn and sees room for potential growth in its biomass power projects. (Kao Hoon, 17/12/14)

Updates on plans — PTT is to issue a Bt10bn corporate bond and reports solid cash flow. It also will postpone the storage and a wharf for importing LNG after government has adjusted the energy price structure. (Kao Hoon, 17/12/14)

SC: revenue and profit to reach new high this year supported by the high number of transfers of low rise and condo projects. The company expects revenue to reach its target of Bt12bn, with presales of Bt10bn. Currently, it has backlog of Bt10bn and expects to realize 40% of it next year. It also plans to launch seven new projects in 2015. (Kao Hoon, 17/12/14)

Thai Airways in Dutch with Laotian authorities – Laos has warned Thai Airways International (THAI) to stop breaching its air service agreement by deploying its budget airline subsidiary for flights to the neighbouring country that are designated for the parent. (Bangkok Post, 17/12/14)

WHA: WHART will be listed in the market on Dec 18. It says the REIT fund will provide a good yield. All units have been sold to both institutional and retail investors. The sponsor is confident that unit price on its first trading day will not be affected by the downtrend in the market. (Kao Hoon, 17/12/14)

  1. Hi Pon.

    I own CPF, actually it was the first stock I bought in Thailand. Are they turning into a POS company with their recent buying sprees? Why do they put themselves into so much debt and risk, haven’t they learned from their past mistakes? What’s your long-term opinion of CPF? And yes, it is a ten-bagger for me.

    • Which recent buying sprees? Their expansion into turkey was the main catalyst for driving the stock price from its 4-6 baht range to its now high 20’s, so they haven’t been that bad.

      Like any large company, unless there is capacity growth it’s not attractive to me unless the stock is stupidly cheap. CPF for now trades on the changes in their selling price (like every other food co), and I find cheaper things elsewhere so I haven’t really bothered delving deeply into them for the past 2 years.

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.