Comment: A sign of things to come? With news from Europe not improving at all, and the recent Cyprus rubbish continuing to damp business sentiment. I can’t see exports improving that strongly anymore.
Exports for February were down 5.83% on the same month last year, with a total value of US$17.92 billion, permanent secretary for commerce Watcharee Wimuktayon said on Thursday.
She said exports over the first two months of the year (Jan-Feb) rose from the same period last year by 4.09%, with total value of US$36.196 billion, while imports totalled US$43.24 billion, resulting in a trade deficit of US$7.04 billion.
Source: Bangkok Post
Another quiet quiet day regarding Thai corporate news
Berli Jucker to go full throttle in Vietnam — BJC will start its retail business in Vietnam in the first half of this year. BJC is also considering whether to invest Bt1bn to expand its tissue paper production capacity in Vietnam or Thailand this year. (Bangkok Post, 29/03/13)
AOT to press govt. for Don Muang upgrade — The AOT board is to ask the cabinet to make Don Muang a fully functional airport. Don Muang airport currently serves low-cost carriers with point-to-point international and domestic services. AOT board chairman Sita Divari said yesterday the board had approved a proposal to upgrade Don Muang airport to serve all airlines, not only budget ones, because of a sharp increase in air traffic at Suvarnabhumi airport. Oneworld, one of the world’s global airline alliances, has expressed an interest in relocating services to Don Muang he said. (Bangkok Post, 28/03/13)
Comment: AOT, the wonderfully efficient organisation that it is, has to increase capacity asap Continue reading Stocks in the news (aot, scc, top) 28.03.13
ECF surges on listing — Shares of East Coast Furnitech (ECF), which began trade on the mai yesterday, doubled from their IPO price, surging 101.67% to close the day at Bt2.42 in trade worth Bt837.65mn. (Bangkok Post, 27/03/13)
Comment: No comment. Ok no i will, ECF IPO’ed @ about THB 600 mn mkt cap, of which some 20% was floated…so thats THB 120 mn of liquidity available in the market. As we’ve seen with every “small” IPO this year it doubles on the first day, enticing more and more retail investors in the market. And while I’m sure the company makes a lovely product etc etc, to make a stock double on the first day by 100% when there’s only THB 120 mn worth of shares is honestly not that difficult. Just be wary if you ever want to chase these things.
InTouch plans six joint ventures this year — INTUCH says it will enter into joint ventures with six companies this year. INTUCH, through its venture capital arm InVent, last September signed its first deal by acquiring a 25% stake in digital publication firm Ookbee for Bt57.8mn. The diversification is part of the group’s strategy to reduce its heavy reliance on the telecom business. (Bangkok Post, 27/03/13)
Comment: We think INTUCH will benefit the most from this digital satelitte change, they are the only company with the balance sheet capable of bidding across the board Continue reading Stocks in the news (efc, intuch, lpn, ptt, ssc, ssi) – 27.03.13
Quiet Quiet day for news
PNG to grant gas concessions to Thai firms — Papua New Guinea Prime Minister Peter O’Neill has agreed to grant natural gas concessions to the Thai private sector during talks with hi Thai counterpart Yingluck Shinawatra. (Bangkok Post, 26/03/13)
TPT mulls early end to concession — TOT may end its mobile concession contract with ADVANC this year, two years before the expiration date, to enable the state telecom to early a final sum of Bt40bn from ADVANC. The proposal is part of TOT’s survival plans after its concession revenue vanishes at the end of this year. Under Section 84 of the Frequency Allocation Act of 2010, TOT must return concession revenue and revenue from frequency-related services to the NBTC starting this December 20. The NBTC will then pass the revenue to the state. (Bangkok Post, 25/03/13)
Comment: And in between the period that TOT receives the funds from ADVANC and is supposed to pass it on to NBTC, 20% will magically disappear into offshore bank accounts hahaha
CPF lays out US$100mn Vietnam expansion — CPF is gearing up to produce more processed foods in Vietnam in preparation to serve domestic demand and greater consumption expected from the coming single market in ASEAN. Its CP Vietnam Corporation unit is investing US$100mn in several core businesses to support the production of processed food under the CP brand. (Bangkok Post, 25/03/13) Continue reading Stocks in the news (advanc, cpf, singer, tpipl) 25.03.13
The site was down for a few days and honestly I didn’t feel the need to get the blog up and running immediately. There has to be a point to running this site, and whether or not my colleagues and I want to be ranked #1, broaden the type of content currently put on etc. etc..
What I don’t want to do is give financial advice or tell anyone what to invest in, time frames, risk-return frameworks really are very different depending upon the person/group/celestial being. I don’t want for this to feel like a chore. Thus as my first boss would ask, what’s the So What? What is the point of this site?
Well it’s a slightly selfish endeavour as it does allow us to synthesize our thoughts upon what we see in the news, markets, books and so forth, and the majority of the content is what I find to be interesting, market specific or not. And in the end, it shall remain to be so!
So expect more ramblings, less stats (unless I find someone else willing to do the work to make things look presentable), oddball commentary, a chart here and there, perhaps even a cartoon. Hope you enjoy it :)
Wonderful week it was with the market giving up of half its total return this year on the back of Cyprus and local politics making some noise.
Continue reading Sector Update (25.03.13 – 29.03.13)
HMPRO to raise cash — HMPO plains to issue debentures worth Bt4-5bn to raise funds for branch expansion. Wannee Juntamongkol, a senior vice president, said the company will spend up to Bt10bn this year, twice as much as last year, to add hardware and home improvement stores across the country. Half of the spending will be funded by proceeds from the new debentures of 3-5 years’ maturity to be issued in the second or third quarter. The remaining funding will come from cash flow. (Bangkok Post, 22/03/13)
Comment: Access to funding at low rates and expanding more upcountry, HMPRO’s #’s will continue to look good for a long time
TPIPL Boosting cement production — TPIPL is moving ahead with its new cement production line, with an ambitious plan to make it the world’s first zero-emission cement production. CEO Prachai Leophairattana signed an MoU with the executives of three Belgian companies for the €15mn fourth cement production line, that will have a capacity of 12,000 tones per day using the waste heat recovery technology. (Bangkok Post, 22/03/13)
Comment: TPIPL has been considered a dead stock for the longest time by investors given its history from 15 years ago. Personally I just think K. Prachai did what anyone else would do when it comes to protecting ones own assets.