BOI applications hit a new record

Applications for Board of Investment (BoI) privileges in 2012 topped 1.46 trillion baht, the highest ever, Industry Minister Prasert Boonchaisuk said on Thursday.

The number of projects rose from 2011 by 29.7%, while investment worth was up 131%. These investment projects would create an estimated 348,866 jobs, the minister said.

 Source: Bangkok Post

Booyah! This silly country still manages to confound itself and achieve new record highs for itself. When I see news like this, first thing I think of is, great for the industrial estates (hemraj, amata, nncl, rojna), second thing is banks (scb, bbl, kbank, ktb) will have more businesses to lend to and third thing is minimum wage impact? what impact?


Temasek sells half of its stake in Shin corp

Want to know know why there has been massive volume in the market over the past week?

Temasek Holdings Pte and its partners sold 20.9 billion baht ($687 million) of Shin Corp. (INTUCH) shares, paring its stake in the company that controls the biggest Thai mobile-phone operator.

Singapore’s state-owned investment company and its partners in Cedar Holdings Ltd. sold 330 million Shin shares at 63.25 baht each, Shin said in a statement. That was a 5.6 percent discount to the close yesterday, and cuts the group’s stake to about 13.3 percent from 23.6 percent, according to Shin.

Source: Bloomberg

So what?

Well its basic mathematics, Temasek made just over 50% in capital gains (excl. divs) in INTUCH, they are halving their investment to be equivalent to its original stake. However if there are continued share sales by the group, don’t be surprised to see further downside in INTUCH as more shares will hit the market.

Stocks in the news (earth, itd, kbank, mint, ps, ptt) – 10.01.13

EARTH 2012 revenue poised to hit Bt10bn —2012 revenue may reach Bt10bn and it is confident that 2013 will continue to show growth with revenue growth of 40-50% and a gross margin of up to 20%. The coal mine in Myanmar will begin operations in 1Q13. (Khao Hoon, 10/01/13)

Comment: Remarkable turnaroud for this company since 2009 when it was losing money to now making Bt. 950 mn in 9M12

ITD – ITD wins another job — ITD has won the contract from the Expressway Authority of Thailand (EXAT) worth Bt131mn for renovation of the Chalerm Maha Nakhon Expressway and the old railway line. It is also accelerating its progress on the Phase 3 of the expressway to the north by using Bt20bn to fund N2 first. The traffic on the road is expected to reach 1.7mn trips per day. (Khao Hoon, 10/01/13)

KBANK – KBANK spreads ASEAN wings further with rep office in Myanmar — Kasikornbank yesterday opened a representative office in Myanmar as part of a plan to become an Asian bank by making its presence felt in all 10 ASEAN countries. (The Nation, 10/01/13)

Continue reading Stocks in the news (earth, itd, kbank, mint, ps, ptt) – 10.01.13