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

BBL
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)

GFPT

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

SIRI

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

SRICHA

New project overseas — SRICHA won a new project to construct a steel structure abroad worth at least Bt1bn and its backlog is expected to increase by Bt10bn over the year. Also, after receiving work from TOP worth Bt1.6bn the company expects to pay out higher dividends this year compared to last year’s. (Khao Hoon, 09/01/13)

THCOM

Thaicom speeds up satellite plan — THCOM is accelerating plans to launch Thaicom 8 by early 2016 to keep up with the exponential growth of the full digital industry. The planned 440transponder broadband satellite, also known as iPSTAR 2, will cost about US$200mn and be positioned in the orbital slot at 119.5 degrees said CEO Suphajee Suthumpun. (Bangkok Post, 09/01/13)

Comment: Difficult to invest in this as it is political driven, but the upside is there if one is willing to take the risk

TTCL

TTCL bumps up revenue target — TTCL has raised its 2013 revenue target to growth of 30% from 25% after receiving a Bt6.4 bn project in Qatar, pushing backlog to Bt24.4 bn. The company plans to participate in new bids totaling Bt60 bn. (Khao Hoon, 09/01/13)
Comment: This company has grown magnificently over the past 6 years, worth a look

TUF

Credit rating raised — TRIS announced a credit rating upgrade for TUF, both the company rating and issue ratings, to “AA-” from “A+” with “stable” outlook. The upgrade reflects the company’s improved financial profile and its successful business consolidation of MW Brands Holdings Group (MWB), a vertically-integrated canned seafood producer in Europe. (TRIS Rating, 09/01/13)
Comment: Strong company fundamentals, good management, growth levels will probably stay around 10% p.a. unless it makes another massive acquisition

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