Stocks in the news (centel, kbank, pttep, singer, tmb) 15.03.13


May be setting up REIT — CENTEL announced that it is in the process of studying to set up a property fund under REIT and is negotiating with domestic banks and foreign banks. It expects record breaking revenues in 1Q13, as revenue in the first two months for hotel and food and beverages has already grown by 80%. It is also plans to issue Bt1bn of debentures in April. (Krungthep Turakij, 15/03/13)

Comment: REIT and boom, this stock price will continue to shoot through the roof


Bancassurance premiums up 25% this year — KBANK said it expects premiums from its bancassurance business is to increase by 25% or Bt42bn this year, while fees are expected to increase by 20% from last year’s Bt22bn. (Khao Hoon, 15/03/13)

Comment: BBL, KBANK, and SCB have all benefited from Bancassurance and consumer loan growth, these two segments are their most profitable businesses by far.


PTTEP partners Mitsui to develop Block M3 in Myanmar – PTT Exploration and Production has announced Mitsui Oil Exploration as its partner for the development of Block M3 in Myanmar. (The Nation, 15/03/13)


Targets 15% revenue growth this year — SINGER targets revenue growth of 15% YoY and will invest Bt200mn to buy more cars and expand the number of its branches to better reach customers. It plans to launch new products, with expansion into Laos, Myanmar and Cambodia. It also plans to issue Bt3bn worth of debentures in 2H13. (Khao Hoon, 15/03/13)

Comment: I have fond memories of Singer, my first turnaround pick back in 2007/8 when it was still @ 1.5 / share, I can’t understand the valuation the stock is given, but this is a strong company.


Korea Development Bank interested — The Ministry of Finance (MoF) said it is open to the option of the Korea Development Bank buying up to more than 50% in TMB and reveals that many groups are in the process of negotiating with ING Group. The MoF said it is ready to sell its stake at a price of ~Bt3.80/share after the Korea Development Bank bought more TMB shares at Bt3.00/share from the ING Group. (Khao Hoon, 15/03/13)

Comment: MoF has the issue of being unable to sell below a certain bv ratio, which I don’t remember off the top of my head.

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