Stocks in the news (beauty, bcp, ecf, egco, loxley, pttgc) 14.03.13


Targets 20% YoY growth this year — BEAUTY targets revenues this year to exceed Bt1bn, growing no less than 20% YoY. It plans to invest Bt300mn to expand the number of branches at home and abroad and also open a new brand in 3Q13. (Khao Hoon, 14/03/13)

Comment: Saw this company at SET’s Opportunity Day, while the numbers are impressive, I’m not convinced on the firm’s ability to maintain its market position. Perhaps a potential trade-sale in the future..


Solar phase 2 operating full out in April — BCP’s solar farm phase 2 of 32MW will operate at full capacity by April. Management states that the operating capacity of the phase 2 project will increase EBITDA by Bt1.4bn. (Khao Hoon, 14/03/13)

Comment: Straightfwd business here, numbers will continue to improve


IPO price at Bt1.20/share — ECF has set its IPO price at Bt1.20/share with subscription period March 15 and 18-19 and expects to trade on mai on March 26. Price is said to have been discounted by 30%. It is waiting for board approval of its 2012 dividend, as its dividend policy is to pay no less than 40% of its net profit. (Khao Hoon, 14/03/13)


Growth continuing this year — EGCO expects growth to continue this year, supported by profits from its Quezon Power plant along with full-year operations of its coal mine in Indonesia. It will invest Bt15bn to develop projects and acquire two new power plants looking particularly at Indonesia or Hong Kong/Macau. (Khao Hoon, 14/03/13)


Loxley intends to keep lottery – Loxley Plc has set aside an extra Bt300mn for the launch of the online lottery, with the installation of lottery machines to be completed by year-end. (Bangkok Post, 14/03/13)

Comment: A license to print $$$ 


PTTGC to join massive Indonesian project — PTTGC has been chosen by the Indonesian state-owned PT Pertamina (Persero) as an investment partner for its US$5bn petrochemical complex. The complex will include an olefins plant with a capacity of 1mntonnes and downstream polymer plants. CEO Anon Sirisaengtaksin said this project will supply the domestic Indonesian market, where demand for polymers is increasing sharply and the government wants to curb imports. He said PTTGC and Pertamina are expected to sign an agreement next month to conduct a joint study of the project details and business model including the possibility of a joint venture. The olefins plant is expected to come on line by 2017, he said. (Bangkok Post, 14/03/13)


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