Strong growth in revenues and profits — ANAN announced 4Q12 net profit of Bt27mn, a 124% increase YoY, on an increase in revenue in this quarter to Bt1.343bn, up 109% YoY. (Khao Hoon, 04/03/1)
Comment: No value seen here from our viewpoints
Inflation meets the criteria for toll rate hike on Sep 1, 2013 — Based on MOC, CPI for Bangkok (2011 = 100) in Feb 13 was 104.76, above the level that gives BECL the rights to a Bt5/car toll rate hike from 1 Sep 2013 onwards. This figure will allow BECL to request EXAT to authorize a rise in toll rate. This will take until August to approve, with the tolls raised from 1 Sep 2013.
Comment: BECLs main earnings growth aren’t coming from the highways its from its holding in CK Power and TTW
BTS may invest in Mochit complex — BTS is in the process of studying investing in a large complex in Mochit area worth Bt20-30bn, as the Treasury is to auction off 63 rai of land for the development of a condominium, office, hotel and a shopping complex and make way for a public-private partnership. (Khao Hoon, 04/03/13)
Comment: Given that they will have a gazillion baht worth of funds post the IPO from its infrastructure fund, one can only hope that the firm reinvests the funds wisely.