Stocks in the news (bbl, gfpt, Siri, Sricha, thcom, ttcl) – 09.01.13

BBL funds CTH with Bt4-bn loan deal, expects strong growth in lending demand from fast-developing sector — Bangkok Bank, which yesterday signed a Bt14bn loan agreement with Cable Thai Holding (CTH), is confident that lending demand from the cable- and satellite-television sector will now begin to flourish due to the development of broadband services. (The Nation, 09/01/2013)


10% growth goal — GFPT targets to grow 10%YoY from the expected Bt15bn in 2012, with gross margin improving to 8-10% from last year’s 6-7%. It plans a 25k broiler farm expansion, valued at Bt400mn, and expected to complete at the end of this year. (Khao Hoon, 09/01/13)
Comment: I think this stock has been overly punished by the short term over supply in the domestic market last year, wouldn’t be surprised to see it finally move once quarterly earnings improve


Sansiri turns focus upcountry, to launch 45 projects covering all segments — Property developer Sansiri will focus its business this year upcountry and introduce new products to cover all segments, with housing units ranging in price from Bt1.5mn to Bt20mn. (The Nation, 09/01/2013)
Comment: every broker is out this morning with an upgrade in target price to mid 4 ish Continue reading Stocks in the news (bbl, gfpt, Siri, Sricha, thcom, ttcl) – 09.01.13

Europe’s Crisis of Values

Lovely op-ed from Soros regarding Europe and the Euro issue today, see below for more

By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

By contrast, less developed countries that borrow in foreign currencies may run out of currency reserves. When a fiscal crisis hit Greece, the financial world suddenly discovered that eurozone members had put themselves in the position of developing countries.

There is a close parallel between the euro crisis and the Latin American debt crisis of 1982, when the International Monetary Fund saved the international financial system by lending just enough money to the heavily indebted countries to enable them to avoid default. But the IMF imposed strict austerity on these countries, pushing them into a prolonged depression. Latin America suffered a lost decade.

Source: Project Syndicate