No growth hormones — CPF says that its chicken is safe and that it does not use growth hormones. It said the more rapid growth comes from an improved strain and better use of technology, along with better farm management and disease prevention. (Khao Hoon, 13/12/13)


Investing Bt25bn in solar and wind farms — EA will invest Bt25bn in solar and wind farms and is in the process of studying setting up an infrastructure fund. It is still negotiating with its Chinese-European partners for alternative energy projects. It expects the deals to be concluded next year and for revenue growth of 40%. This year’s revenues are in line with target with net profit to reach Bt200mn. (Khao Hoon, 13/12/13)

Comment: You’ll see the same story for just about every company that is doing these huge alternative energy projects


Expects outstanding 4Q13 — GUNKUL says 4Q13 performance will be outstanding after it delivered projects worth Bt1.7bn. Management is certain of 10% YoY revenue growth in 2013. It will report good news about the gas engine project in Myanmar soon and expects to book revenue from the project next year. (Tun Hoon, 13/11/13)

Comment: This company has yet to be exhibit a consistency in its growth and profitability, quarterly numbers just bounce around far too much


KCE targets 15% revenue gain next year ¬- KCE Electronics Plc, ASEAN’s leading manufacturer and distributor of printed circuit boards (PCB), targets 15% growth in revenue next year from over Bt9bn this year as its new factory starts operation. President and chief executive Pithan Ongkosit said KCE has been on track to boost revenue by 35% this year to a record Bt9bn, thanks to increasing demand for PCBs and expansion to new markets. (Bangkok Post, 13/12/13)

Comment: First met them in the beginning of ’11 and thought wow wonderful story, flood happened, our focus shifted away and now we’re banging our heads against the wall. Oh well.


Final quarter the best of the year — MC says that its 4Q13 will be the year’s best, supported by high season. It expects 2013 revenue growth of 10% YoY from Bt2.5bn in 2012 thanks to solid demand. It aims to get a new dealer in Vietnam in December. (Tun Hoon, 13/11/13)

Comment: We think MC will mimic MINT in its acquisition strategy and they have to, with only one brand in such a competitive industry we doubt its longevity

OCEAN IPO price at Bt0.9/share — OCEAN has set its IPO price at Bt0.9 a share. Shares will be sold December 16-18 and it will begin trading on mai on December 23. It will use the funds to increase capacity and as working capital. (Khao Hoon, 13/12/13)


Expanding abroad — UMI plans to expand overseas, anticipating many orders after AEC is implemented. It is studying setting up factories in neighboring countries. Its local orders continue strong, keeping it running at 80% of capacity. (Tun Hoon, 13/11/13)

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