AKR wins a bid — AKR has won the bidding for a project worth Bt500mn. Management said the company has its backlog of Bt600mn. AKR targets to grow 10%YoY. International orders will increase to 20-25% in 2013. Its deal regarding the solar business is expected to conclude at the end of this year. (Tun Hoon, 6/2/13)
Comment: This company has promised improvements and turnarounds since we first looked at them in 2005, no change in our thoughts with this.
Looks for doubling in sales this year — ANAN expects sales to double to Bt12 bn. Current backlog is more than Bt14 bn and Bt12bn of the backlog will booked as revenue this year. The company targets presales for this year of Bt15bn and plans to launch 13 projects, worth Bt24bn. (Khao Hoon, 6/2/13)
Comment: Given that the mkt cap is already @ THB 14bn, we don’t see much value here.
BAY to upgrade system to maintain e-business – Bank of Ayudhya will spend Bt2bn over three years on information technology, especially customer intelligence, to reinforce its e-business including Krungsri Mobile Application. (The Nation, 06/02/13)
Comment: I’m always happy to hear about a bank that plans to invest in its IT systems, IT insiders know very well that Thailand is incredibly far behind the rest of the world in regards to their systems and safety… Continue reading Stocks in the news (akr, anan, bay, cpn, irpc, pf) – 06.02.13