CPALL
CPALL expects 8,100 7-Eleven branches in 2014from currently 7,900. It expects the Thai economy to continue to grow. The company is preparing to launch a large campaign in December. (Kao Hoon, 13/10/14)

EASON
EASON to focus on foreign markets by setting up factories in Vietnam and Indonesia and a trading company in Malaysia. The company expects the factory in Indonesia will operate in 4Q14 and give some support to profits, but expects declining revenue and net profit from 2013. (Kao Hoon, 13/10/14)

LH
LH reports presales of Bt10bn in 3Q14, the highest in several years. The company expects 2014 presales will be more than Bt32bn after reaching Bt26bn in 9M14. It will launch four new projects worth Bt5bn and is confident that revenue growth will be 9% YoY in 2014, supported by backlog of Bt17bn. It is preparing to do a road show in Singapore in late October. (Thun Hoon, 13/10/14)
Comment: Every property company in Thailand is going to have fantastic presale numbers coming out within the next 3-6 months, very simply, a shift of demand from the 6 months of political rubbish in 2H13-1H14

NIPPON
Asking for capital increase— NIPPON will ask shareholders at the meeting on 27 Nov to approve the issue of 544.09mn shares and 148mn units of NIPPON-W2. Of the new shares, 122.06mn will be sold to existing shareholders for Bt1 and 250mn shares are slated for private placement at Bt1.8. Another 120mn shares will be privately placed with KPN Group. (Kao Hoon, 13/10/14)
Comment: Its quite incredible the amount of deals that are going around with smaller co’s these days, and even more incredible how local investors assume that private placement = massive upside…

PTT
PTT reports resumption of GSP 5 and is ready to improve security. Marubeni, EGAT, and the company will invest in a coal power plant in Myanmar. (Kao Hoon, 13/10/14)

SPA
SPA preparing to sell 170mn IPO shares this week and a roadshow it held brought a good response. The company will use the funds for additional branches. (Thun Hoon, 13/10/14)
Comment: Looks like another small name coming to the market, expect the usual first day bounce.

STEC
STEC hopes for a Bt17bn private project in 4Q14.Management says it expects a good performance in 2015 as it expects to obtain public project worth Bt30bn. It has backlog of Bt47bn and is bidding for new projects overseas. The company is looking for land on which to develop a property business.(Thun Hoon, 13/10/14)

TAE
TAE wins lawsuit for Bt180mn in damages and will get Bt7mn back. It is finding a way to protect against raw material risk in the future. Management said performance in 3Q14 was good and 2014 revenue will be as expected. (Thun Hoon, 13/10/14)

TPOLY
TPOLY to sign new agreement worth Bt900mn in October and will start to book revenue from Mae Fah Luang University project worth Bt698mn in 4Q14. The company maintains its 2014 revenue target of Bt3.4bn and is will list TPCH on mai in 2014. (Kao Hoon, 13/10/14)
Comment: This will keep the stock price buoyant until the IPO

TUF
TUF reports bond conversion— TUF reports that Standard Chartered Private Equity Limited has used converted its convertible bond to 45.4mn common shares worth Bt2.4bn, improving financial strength for both domestic and overseas businesses. (Kao Hoon, 13/10/14)
Comment: Personally I don’t understand why business owners such as TUF or BGH for that matter would ever issue a convertible bond, there is a higher associated cost to equity dilution, then again bankers are pushing it because of the higher fees that can be earned.

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