Stocks in the news (cpf, hmpro, jmart, ps, siri) – 27.02.13


Aiming at sales growth of 10-15% annually — CPF aims for sales to reach Bt700bn over the next five years, or to increase 10-15% per year. In 2012 sales reached Bt357.175bn, a 73% rise YoY, with net profit of Bt18.79bn, equating to Bt2.59/share. It will pay a DPS of Bt0.50 on 2H12. (Khao Hoon, 27/02/13)


Targets sales growth of 15% — HMPRO target sales growth of 15% as it prepares to invest more than Bt10bn in opening 10 new branches to increase the number of branches to 80 in four years. It expects its three new “Mega Home” stores, targeting contractors and developers, to take in Bt700mn worth of sales per store this year and it plans to open two more stores in Malaysia next year. (Khao Hoon, 27/02/13)

Comment: HMPRO’s revenue breakdown over the past 6 years clearly demonstrates how Bangkok hasn’t been the growth driver for Thailand for quite a while already


Set to expand throughout AEC — JMART is to expand further in the AEC market, with its first store to open this year in Myanmar and next year in Laos and Cambodia, as it plans to expand up to 20-30 stores this year and targets revenue growth of 40% YoY. It will invest Bt250mn in opening new stores and renovating existing ones. (Khao Hoon, 27/02/13)

Comment: Loved this company for years, but not because of the phone business, far more for its debt collection business Continue reading Stocks in the news (cpf, hmpro, jmart, ps, siri) – 27.02.13

Stocks in the news (aot, bay, ccp, ivl, kk, ptt) – 26.02.13


AOT expecting record number of arrivals — AOT estimates the number of passengers passing through Suvarnabhumi this year to reach 50mn, after reaching a record of 170K per day from 150K over the Chinese New Year. It aims to address the airport congestion problem before the completion of Phase 2. (Khao Hoon, 26/02/13)


New campaign to push electronic channels — BAY’s new campaign “Krungsri Roo Jai Dining All Year” is expected to stimulate its customer services and financial transactions through electronic channels. The company expects customer usage to grow by 20% in 2013, pushing it to becoming one of the leading businesses in electronic services. (Khao Hoon26/02/13)


Expects 2013 to break more records — CCP confirms a continuation of record-breaking profit in 2013 and expects to distribute an interim dividend of 40% of its profits after it has cleared all its accumulated losses in 1Q13. It expects to win 2-3 new deals, pushing its work in hand up to Bt3bn. (Tun Hoon, 26/02/13) Continue reading Stocks in the news (aot, bay, ccp, ivl, kk, ptt) – 26.02.13

Management trades (bgh, ait, ple, scc) 18.02.13 – 22.02.13

Notable transaction(s)

Buy(s): THB 43mn

  • BGH – No surprise here, I’m still thinking 200+ 

Sell(s): THB 268mn

  • AIT – A director decides to take profit, stock has been on a tear over the past 1.5 months
  • PLE – Chairman and Vice Chairman sold off a substantial portion, haven’t seen any news regarding this
  • SCC –  A director selling off some shares.

130225 mgmttrades

Stocks in the news (banpu, lpn, nbc, pjw, pttep, pttgc) 22.02.13


Buyback boosts Banpu share price – The SET-listed Banpu Plc, ASEAN’s leading coal miner, announced a Bt6.15bn share buyback plan yesterday, a move that rallied its share price after its net profit dropped last year on weakening coal prices. (Bangkok Post, 22/02/13)

Comment: While good on a ST basis, it doesn’t cloud the fact that Banpu sold off part of its business 2 years ago, hence why EPS can’t return to its former hey days


LPN looks for Bt2bn plus in revenue in 1Q13 — LPN says that it expects more than Bt2bn in revenue in 1Q13 and expects revenue in 2Q13 and 3Q13 to jump to over Bt10bn due to higher number of unit transfers. The company is to launch a large condominium project located in Rangsit Klong 1 worth Bt6bn in 2Q13. (Khao Hoon, 22/02/13)

Comment: Great co, great management, well placed, bloody exp stock price.


Expects 15% growth in 2013 revenue — NBC expects revenues for 2013 to increase by 15% from last year’s Bt547.31mn, supported by strong growth in the media industry. The company has also given the green light to increase capital by issuing 541.84mn new shares at rights of 1 old to 2 new at an offering price of Bt3/share. The proceeds will be used to bid for a TV digital license at the auction that will be held in March. (Tun Hoon, 22/02/13)

Continue reading Stocks in the news (banpu, lpn, nbc, pjw, pttep, pttgc) 22.02.13

Today, you have to choose between a decent return and total safety

Wonderful interview with Howard Marks who runs Oaktree Capital stateside, its a great read and the key points I gather from it are:

  • The level of economic activity, anecdotal as you describe, is not an indication of health in the future. It is an indication of health in the present. The question is, what are the implications for the future?
  • So, what that says to me is that even the Fed and the central banks with all their powers can’t create inflation when they want to.
  • With interest rates as low as they are, if you stick to totally safe investments you can’t make any money. So they are not thinking bullish but they are acting bullish.

Source: Business Outlook

SET Opportunity Day

Its that time of the year again when companies on both the SET and MAI present themselves to investors/analysts, we’re sitting here most days listening to each and every company to see if there is something interesting. This quarter there are some 100+ companies over the next 1.5 months, See the link for the times or video link of their presentations.

Stocks in the news (bts, ccp, cpall, gold, intuch, seafco) – 21.02.13


BTS group infrastructure fund on — BTS Group Holdings looks to have cleared the way for a brighter future, with the green light to go ahead with its infrastructure fund and a possible rise in skytrain fares. (The Nation, 21/02/13)

Comment: Looks like there’s been some sell on the news, we all know that this DSI investigation was rubbish.


CCP expects new high for earnings this year — CCP expects earnings for 2012 to be strong and better than for other years. It says 4Q12 earnings were strong, supported by price adjustments and demand increase and better cost controls. The company expects growth of 15-20% next year. Its subsidiary company, SMC, is also expected to be listed, which will push its profits up by Bt150mn. It expects 2012 profits to grow by almost 500%. (Khao Hoon, 21/02/13)


Expects 30% growth in catalog business — CPALL targets its 7-Catalog business to grow by 30% by adding new product lines and expanding its market. Moreover, the company will invest Bt120mn in two warehouses in Sriracha and upgrade its software. It also aims to increase the number of warehouses in Khon Kaen in the next 1-2 years. (Khao Hoon, 21/02/13) Continue reading Stocks in the news (bts, ccp, cpall, gold, intuch, seafco) – 21.02.13

BOT Maintains rate @ 2.75%

For the past few weeks the government has been “pressuring” the BOT to cut rates in the aim of preventing the Thai baht from getting any stronger. We’ve been against this thought as Thailand has so much liquidity flying around as it is and with the Government’s spending coming through next year any further rate cuts are unwarranted as GDP growth is fine, inflation is still there hovering just about 3% and we think any increase in liquidity could push things into a “bubble” state for the financial and property markets.

So well done BOT you’ve proven you have a spine!

The Bank of Thailand’s Monetary Policy Committee (MPC) has kept its benchmark interest rate unchanged at 2.75%.

The committee members on Wednesday afternoon voted six to one not to cut the policy interest rate because they believed the current rate was in line with the overall economic situation.

The MPC said the global economy was more stable and Thailand’s gross domestic product growth was higher than expected in the fourth quarter of 2012, while the inflation rate continued to increase because of fuel prices.

Source: Bangkok Post

Stocks in the news (amata, anan, ap, ratch, tisco) – 20.02.13


AMATA to set up property fund this year — AMATA aims to set up a real estate property fund this year. It said sales have grown by 10-20% from last year’s 2,800 rai. It has also secured a backlog of land worth Bt7.6bn, which is expected to be recognized this year. The company will invest Bt2bn on infrastructure in its industrial estates. (Khao hoon, 20/02/13)

Comment: Welll…another one jumping on the property fund train, they don’t have that much rental income generating assets to facilitate a decent sized property fund at the moment, not sure what amata is planning to sell into it


New condo on Sukhumvit 64 — ANAN is to launch the Bt4.6bn “Elio Condo” located on Sukhumvit 64, with starting unit price at Bt1.29mn. The company plans to launch 13 new projects with a total value of Bt24bn this year, to push sales up to its goal of Bt14.9bn. (Khao Hoon, 20/02/13)

Comment: Yawn…zzzzz….over priced…


Asian Property’s upscale condo with a difference on Sukhumvit – Asian Property Development hopes to cash in on the limited availability of upscale condominiums on Bangkok’s Sukhumvit strip by introducing its first top-end tower, Galerie Rue de 39, worth Bt3.3bn. (The Nation, 20/02/13)


RATCH allots B10bn for 2013 projects, investments – The SET-listed Ratchaburi Electricity Generating Holding Plc (RATCH), Thailand’s largest private power producer, has set aside Bt10bn this year to fund ongoing and new projects, both at home and abroad. (Bangkok Post, 20/02/13) Continue reading Stocks in the news (amata, anan, ap, ratch, tisco) – 20.02.13