Issuing bonds — BGH will issue unspecified currency convertible bond worth no more than Bt10bn with a tenure of ~5 years. The company will use the cash to fund investments. (SET, 19/06/14)
Comment: Why?! They are net cash, why would the company bother to do this, wouldn’t a normal bank loan be cheaper? Nuts someone go slap the CFO
CGD is confident of profit in 2014, backed by sharp revenue growth from booking phase 1 and 2 of Element Condo at Srinakarin and the setup of an REIT worth Bt1.4bn in late 3Q14. It recently began to construct the Land Mark project. (Khao Hoon, 19/06/14)
Comment: CGD is going to become popular in the news, announcements of their new massive project, booking revenues from their massive project in Srinakarin and now a REIT (but with what?) towards the end the year.
CIMBT keen on transfer – CIMB Thai Bank (CIMBT) aims to annually double its transactions and fee-based income from its international money transfer service, SpeedSend, over the next few years. This is because of expected growing remittance demand with the launch of the ASEAN Economic Community in late 2015. (Bangkok Post, 19/06/14)
FORTH says 2Q14 performance good after it booked revenue from a telecommunication project and growth of its top-up mobile phone vending machine. It is signing installation agreements for 2-3 projects and will list its subsidiary in 3Q14. (Tun Hoon, 19/06/14)
Comment: The subsidiary that FORTH will list is an incredible cash machine, it will do v. well.
GL finalises Tanabun buyout – Group Lease Plc (GL) is projected to rise by 30% after it completes a planned buyout of motorcycle lender Tanabun from the Thai Credit Retail Bank in a deal worth up to Bt1.5bn. An extra benefit for GL is a new window of opportunity to expand into the motorcycle-for-cash and used motorcycle finance business in the provinces by using Tanabun’s operating systems. (Bangkok Post, 19/06/14)
Comment: So GL has a stock buyback scheme in place, is actively acquiring competitors in Thailand and maybe in neighbouring countries, plus NPL’s for motorcycle’s are likely to decline, no surprise in the 50% stock price increase 🙂
ITD asks for postponement of bridge — ITD has asked the Ministry of Transport to put off building a railway bridge across the Thai-Cambodia border at Klong Leug because it is concerned about safety after the coup. (Khao Hoon, 19/06/14)
New joint venture in India — MINT subsidiary, MFG International Holding (Singapore), set up a joint venture with Devyani International in India to operate a food business. Investment was Bt60.5mn. It expects net profit growth of 15-20% YoY a year during 2014-2018. (Tun Hoon, 19/06/14)
SC expects better performance in 2H14 on the transfer of 2-3 projects. Presales in 2Q14 have reached Bt3bn, bring 1H14 presales to Bt4bn. It is preparing to launch 4-5 new projects worth Bt7bn in 2H14. (Khao Hoon, 19/06/14)
STEC expects 20-25% of total infrastructure projects or Bt25bn from three projects worth a total of Bt100bn in 2014. It may get a Bt15bn new project in 2H14 and is signing with The Mall Group for a project worth Bt1.5bn. (Khao Hoon, 19/06/14)
TNDT expects better performance in 2H14 than 1H14 supported by growing energy business and a bright overseas market. It is confident in revenue growth of 10% YoY and says 2Q14 is continuing to grow on gradual delivery of projects. (Tun Hoon, 19/06/14)
TSR is confident good response from investors and continues to access the provincial water purifier market. It has found a partner and agent to access the AEC market and expects revenue of Bt4bn in 2017. It expects 2014 revenue growth of 20% YoY and net profit of Bt100mn. (BangkokBiz, 19/06/14)