DNA – DNA to distribute hit Chinese movie — DNA, a home entertainment retail and distribution company, will distribute “Lost in Thailand” movie to more than 100 cinemas. Management is confident that its gross margin will be 40-50% if it distributes 10-12 movies. Revenue is expected to grow 40%. (Khao Hoon, 7/2/13)

Comment: On a numbers basis alone the stock is “cheap” by today’s standards

HEMRAJ Earmarks Bt8bn for 2013 business expansion — Hemaraj Land and Development plans to spend Bt8bn on expanding its industrial estate, utility, power and property businesses in this first year of its five-year, Bt40bn investment plan.(The Nation, 7/2/13)

Comment: We’ve always preferred Hemraj over every other IE developer in Thailand, and its utilities business/investment is fantastic given the recurring income (half of net income will be recurring). We saw it a few years ago, but have already since exited…oh well brokers are having fun releasing papers on it now.

KK Merger boosts Kiatnakin’s fee income — Kiatnakin Bank (KK) experienced a sharp rise in fee income, mainly from brokerage and investment banking fees, following its merger with finance company Phatra Capital. Fee income surged 60% last year after it consolidated Phatra’s four-month earnings into its balance sheets. The proportion of net interest to net fee incomes last year was 75:25, or Bt7.11bn and Bt2.81bn respectively. (Bangkok Post, 7/2/13)

PTT PTT venture to build condensate splitter in Timor — PTT International will own around 70% of the venture and petroleum firm Timor Gap will own the rest. The companies also agreed to jointly engage in condensate trading activities, he said, adding that the two deals require a combined investment of Bt5bn (US$168mn). (Dow Jones Newswires, 7/2/13)

ROJNA Sells land to Honda — ROJNA sold 1,600 rai to Honda to build an assembly and engine plant in Prachin Buri, worth Bt17.2 bn, with the annual capacity of 120,000 cars. This has pushed ROJNA above its 2013 land sales target of 1,500 rai. The company plans to raise its 2013 target. (Khao Hoon, 7/2/13)

Comment: ROJNA doesn’t have as a compelling a case as a business like hemraj or amata, its a simple rebound play from the floods and growing along with Thailand’s investment boom

TGPRO Aiming high — TGPRO aims to become one of the largest stainless steel plants in Thailand in the next two years. It will triple capacity from 1.2-1.5 thousand tons per month. (Tun Hoon, 7/2/13)