Stocks in the news (TTA, BTS, SAT) – 27.12.12

BTS

BTS Ridership grows nicely in November — BTS reports high ridership at 566,048 passengers/day, +26% YoY in November. (Company)

Comment: You still have to wait in queue just get on the damn thing in the morning! Essentially looking @ this via the infrastructure fund, easy for the co to hit THB 8/share next year.

SAT

SAT expects record sales in 2012 or 48% growth. The company targets sales growth at 10-15% in 2013. (Khao Hoon, 27/12/12)

Comment: Well, easy enough story, 2012 was a banner year, 2013 we’ll see how the industry performs on an export basis, I don’t expect “that” much growth domestically anymore

TTA

TTA trims fund-raising target — TTA has revised down its fund-raising plan to Bt6bn plus warrants from Bt9bn planned earlier after the bigger amount failed in a recent shareholder vote. It also changed its rights offering ratio from a previous 1:1 to 5:2, as it was one of the main points of contention with investors, plus free warrants with the exercise right within 2.5 years at a price of Bt17. The whole plan will proceed over a period of 30 months. (Bangkok Post, 26/12/12)

Comment: Essentially a win for minority shareholders here, I still think the company is incredibly cheap, but will wait and see post recap

Management Trades 17.12.12 to 21.12.12

Notable Transactions:

Buy(s)

  • BGH – A group of major shareholders/management/directors purchase over THB 45 mn
  • ERW – A family member/director purchases a combination of the stock and the warrant
  • TVD – The CEO purchases THB 16 mn

Sell(s)

  • EMC – K. Chanachai, a well known stock punter, offloads shares in his co
  • IHL – A director offloads a massive amount of shares, THB 63mn, IHL is linked to the auto industry, perhaps a sign that this years massive growth won’t continue into next year.
  • PPC – THB 160 mn shares sold between the founders, not such whats going on here
  • TUF – THB 335 mn sold by a director, one of the largest sells I’ve seen ever!

121225 mgmttrades

Note: ERW and SIRI transactions included warrants hence the lower avg price vs the market price

 

Stocks in the news (EARTH, KTB, MJD, PTT, SCCC, TCCC, VGI) 25.12.12

EARTH
Raises capital to buy mine in Indonesia — EARTH increased its capital by 1.47bn shares to acquire a coal mine in Indonesia. The company said the dilution affect is 10% and it is confident that revenues this year will exceed Bt8 bn from 4 million tons of coal sales. It expects revenue growth of 20% in 2013. (Khao Hoon, 25/12/12)
Comment: I always find commodity plays interesting, this could be worth a look

KTB
KTB charts Myanmar expansion — The state-owned Krung Thai Bank is looking to form a joint venture in Myanmar following the successful launch of its representative office in the neighboring country. (Bangkok Post, 25/12/12)

MJD
Confident in revenue target — MJD is confident that it will reach its 2012 revenue target with revenues of Bt2.7bn. The company plans to launch two projects worth Bt4 bn in 2013. Currently, MJD has backlog of Bt5-6bn and expects to book all of this next year. (Tun Hoon, 25/12/12)
Comment: This company has yet to prove itself as a strong property developer, if anyone is looking at it, don’t consider it more than just a trade Continue reading Stocks in the news (EARTH, KTB, MJD, PTT, SCCC, TCCC, VGI) 25.12.12

Sector Update 17.12.12 to 21.12.12

121224 00sum 121224 01set 121224 02mai

 

 

 

 

 

 

The market continues to rally on the back of the US fiscal policy (although now its turning the other way) and continued fund flow from LTF’s. There’s not much more time left for the year and soon enough funds/research houses will begin to talk about the “January Effect”

Continue reading Sector Update 17.12.12 to 21.12.12

Stocks in the news (BAY, BGH, CK, DNA, PTTEP) 24.12.12

BAY
Japan company wins bid for BAY — Japan’s Mitsubishi UFJ Financial Group Inc won the BAY’s bid from GE Capital International Holding Corporation. BAY will announce the official result to the SET on Dec 26, 2012. (Khao Hoon, 24/12/12)
Comment: I can believe this story far more than any of the Malaysian bank rumours, however khao hoon doesn’t always have the best track record regarding rumours

BGH
Expansion plans — BGH plans to expand the number of its hospitals both in-country and abroad to 50 from its current 29 by 2015 to prepare for the opening of the AEC. It plans to expand into Cambodia and Myanmar and also plans to increase the percentage of foreign patients to support its profit. (Tun Hoon, 24/12/12)
Comment: this company has to keep expanding aggressively to maintain these valuations

CK

Gain from sale of TTW to push earnings up — CK will record Bt2.3bn extra income from selling 438.9mn TTW shares in 1Q13 to BECL at Bt7.55/share, pushing its earning up. (Khao Hoon, 24/12/12)
Comment: already mentioned it, ck’s price action has already recognised this event

DNA
Aiming to pay first dividend — DNA 2002 is preparing to propose its first dividend payment to its board in the first quarter of next year as management is confident in the company’s financial strength. The company’s dividend policy is to pay no less than 40% of its net profit. Revenue is expected to reach Bt1.5bn this year. (Khao Hoon, 24/12/12)

PTTEP
Seeking contractor for LNG plant — PTTEP is preparing to find a contractor to develop its liquefied natural gas (LNG) plant along with installing equipment and building gas pipelines off the cost after it finding more than 65 trillion cubic feet of recoverable natural gas in the offshore fields of Mozambique. (Tun Hoon, 24/12/12)

New forums section

A few minor changes to the site in the past week, one we’ve added in a stock news rss feed that shows key news releases of publicly listed companies here in Thailand

Secondly, given that the number of unique visits to this site has increased tremendously over the past 12 months (thank you all!), we’ve decided to create a forum section where readers can open forums and begin discussions on companies/stocks in Thailand that are of interest, I’ve started by creating the first two with content to be added in shortly. I do hope you all join in the discussion and hopefully we can all learn more about potentially interesting co’s here.

forum

What happened this past week 17.12 – 21.12

Summary of the past week’s key events

Positive(s)

  • Thai Nov car exports exceed 100,000 units
  • Japan held elections last weekend which saw the Liberal Democratic Party (LDP) come to power with an overwhelming victory. LDP’s Shinzo Abe is expected to replace prime minister Yoshihiko Noda and had campaigned promising more monetary and fiscal stimulus.
  • BoJ adds another 10T yen to its program, Nikkei trades above 10,000 intraweek as exporters get breather with weaker yen.
  • China held its Central Economic Work Conference this weekend which sets forth monetary policy for 2013. Policymakers agreed to spend more to shore up the economy if necessary but are unlikely to announce a large stimulus. Policymakers also said that “expanding domestic demand will be a strategic basis for China’s development next year,” according to Xinhua.
  • Spain sold €1.9 billion of short-term debt with yield of 1.195 percent on the 3-month bills, down from 1.254 percent the previous month. Borrowing costs also declined for the six-month bills.
  • November home prices climbed 0.3 percent month-over-month in 70 major Chinese cities, after rising 0.05 percent the previous month. Home prices were up in 53 of 70 major cities, up from 35 in October. Meanwhile, Beijing continues to maintain curbs on its property sector.
  • India’s central bank left interest rates unchanged. The repurchase rate was maintained at 8 percent, and cash reserve ratio was maintained at 4.25 percent. Central bank governor Duvvuri Subbarao has ignored called from the finance minister to lower interest rates and support the economy.
  • Germany’s Ifo business climate index rose to 102.4 in December, from 101.4 the previous month, beating expectations.

Negative(s)

  • 74 billion baht would be given out in rebates under the first time car-buyers programme, how is the Thai government going to pay for all these populist policies?
  • Euro-area exports fell 1.4 percent month-over-month in October and imports climbed 0.6 percent. The trade surplus narrowed to €7.9 billion.
  • FDI in China in Nov falls 5.4% y/o/y, more than expected and negative for the 12th month in the past 13
  • UK CPI in Nov holds at highest level since May at 2.7%, above the 2% BoE target for the 36th straight month.

Stocks in the news (CK, DTAC, KAMART, SCC, TRT) 21.12.12

CK
Sale of TTW stake gives huge one-time-gain; good news already priced in — CK’s Board of Directors approved the sale of 11% of its holding in TTW at Bt7.55/sh to BECL. This is subject to shareholders approval, with meeting scheduled on Feb 5th.

Comment:
It’s a Bt3.3bn transaction, CK will be left with 19% stake in TTW. Since CK also holds 15% stake in BECL.

DTAC
3G coverage accelerates — 80% penetration seen a year ahead of plan.Total Access Communication (DTAC)has earmarked 25 billion baht for installation of its third-generation (3G)mobile network over the next three years as it accelerates its time frame for covering 80% of the population. (Bangkok Post, 21/12/12)

KAMART

KAMART expects boost from New Year sales — KAMART expects its sales to grow 30% in 4Q12 due to the New Year season. Management plans to expand the store and distribution channels to support its revenue and earning growth. (Tun Hoon, 21/12/12)
Comment: despite what I’ve read from analysts reports and the news, I’ve never seen any of their shops full…

SCC

SCC buying ceramic tile company in Vietnam — SCC has entered into an agreement with the current shareholders of Prime Group (ceramic tile business in Vietnam) to acquire 85% worth Bt7.2bn. This transaction is set to complete in 1Q13. Prime Group operates six ceramic tile plants with a total capacity of 75mn sqm, and is one of Vietnam’s leading domestic producers with a domestic market share of 20%. Post transaction, SCG will have total ceramic tiles production capacity of 225mn sqm, of which 48% is in Thailand, 33% is in Vietnam, 14% is in Indonesia, and 5% is in the Philippines. (Bangkok Post, 21/12/12)

TRT

Expects sales to reach Bt5bn in five years — TRT has outlined a five-year plan to reach Bt5bn in sales, 20–25% growth YoY, from the current Bt2–2.1bn. It has backlog of Bt1.3bn and plans to bid for projects worth Bt3.6bn, expecting to win 20–25% of total bids. TRT has begun its expansion into the broader AEC market with a Bt300mn project in Myanmar. (Khao Hoon, 21/12/12)
Comment: I’ve met management here a while ago, and did walk away impressed however the company hasn’t performed as well for the past 2 years and I’ve seen management selling share over the past 6-12 months

Stocks in the news (ANAN, KC, SENA, THCOM, TOG, TRUE, TUF) – 19.12.12

ANAN

Buys land for condo on Sukhumvit — ANAN acquires the land to develop a condominium in Sukumvit worth Bt825mn, using the funds from its IPO. The company expects to launch the first phase in 1Q13 with construction finished in 1Q14. (Tun Hoon, 19/12/12)

Comment: They needed to IPO to raise capital and I’m not convinced regarding their product however I have been wrong on property stocks before…

KC

KC signals a good 2013 — KC will partner with new alliance to expand to the high rise segment and expects to turn profit next year. It will book Bt250mn land sales in 2013. (Tun Hoon, 19/12/12)

Continue reading Stocks in the news (ANAN, KC, SENA, THCOM, TOG, TRUE, TUF) – 19.12.12