Stocks in the news (amanah, cpn, earth, pttgc, rs, tpc, vgi)

AMANAH-  AMANAH to expand its hire-purchase business — The company expects 2013 hire-purchase business will reach Bt5 bn, growing 15%YoY. AMANAH partnered with IBANK to capture Islamic customers. (Tun Hoon, 30/01/13)

Comment: Another financing co trying to ride the industry trend.

CPN – CPN plans Bt10 bn ‘super mall’ — Central Pattana Plc (CPN), the SET-listed retail developer of the Central Group, will build what it is dubbing its first “super mall” in Nonthaburi this year, worth more than Bt10bn near the Bang Yai intersection. (Bangkok Post, 30/01/13)

Comment: CPN continues to dominate the retail mall market here in Thailand, valuations still have us shuddering in fear

EARTH – To list in Germany — EARTH plans to be listed in the stock market in Frankfurt. Management sees it as an opportunity to raise funds from abroad as they believe the company has strong fundamentals that will attract foreign investors. Coal sales this year are expected to reach 8mn tons. (Khao Hoon, 30/01/13)

Comment: I do like what I’ve seen with this company so far.

PTTGC – PTTGC aims at doubling total revenue — PTT Global Chemical Plc (PTTGC), Thailand’s biggest petrochemical maker, will spend nearly Bt200bn through 2017 on expansion and greater efficiency. (Bangkok Post, 30/01/13)

RS – RS wants to join fray for TPL broadcast rights – Leading music and entertainment giant RS is keen on bidding for the media rights to the Thailand Premier League (TPL) for the coming three soccer seasons, and this is expected to result in more intense competition for the broadcast rights. (The Nation, 30/01/13)

Comment: RS needs this to stay competitive, only having the Liga broadcast rights isn’t enough

TPC – Announces Bt2.25 dividend — TPC to pay dividend of Bt2.25/share on 2012 performance, with XD on April 2, 2013. 2012 sales fell to Bt29.7bn on a fall in selling price. However, the company had profit of Bt3.33bn, a 33%YoY increase, due to better spread. (Tun Hoon, 30/01/13)

VGI – Plans 10% revenue growth — VGI targets 2013/14 revenue growth of 10%, backed by healthy economic growth and expansion of the advertising industry. For FY9M12, the company reported profit of Bt684mn, jumping 181%YoY. (Khao Hoon, 30/01/13)

Comment: The moment this stock shifts from being viewed as a growth story to a value play, I’d expect a drop to the 60-70 baht levels.

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