Stocks in the news (advanc, cpf, singer, tpipl) 25.03.13

ADVANC

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

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)

SINGER

SINGER embraces strong baht — Singer Thailand has adjusted its business strategy to maximise gains from the strong baht. For starters, it plans to remarket imported finished products alongside sourcing for OEM. CEO said the move will increase sales opportunities and improve competitiveness in the long term. (Bangkok Post, 25/03/13)

Comment: As I wrote about previously, we loved the company back in 2008 when its turnaround was just underway, however we still just sit here and shake our heads at these valuations

TPIPL

TPIPL finally adding long-planned cement line — TPIPL will spend Bt10bn between this year and 2016 to develop a new production line for cement and expand into renewable energy. Half of the total expenditure will go to the fourth cement production line, a project that has been postponed since the financial crisis in 1997. The balance will be used to develop community waste into electricity, he said. (Bangkok Post, 23/03/13)

Comment: Prachai is back!

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