Stocks in the news (STEC) 02.05.13


Contract for new Parliament signed — The parliament and Sino-Thai Engineering and Construction Plc (STEC) have signed an agreement for construction of new parliament buildings alongside the Chao Phraya River in Kiak Kai area of Bangkok. The Bt12.2bn contract was signed by House secretary-general Suwijak Nakwacharachai and STEC president and executive director Pakpoom Srichamni. It gives the construction firm 900 days to build Thailand’s new legislative centre – until Oct 18, 2015. (Bangkok Post website, 30/04/13)

Comment: Every construction stock has been on a tear for the past 6 months on the back of expected windfalls from the governments spending. We normally shy away from them, but if a gun was put to my head I would choose ck then STEC over the others any day

Stocks in the news (bts, pttep, ttw) 30.04.13

Skytrain fares up from June — Fares will be raised on the BTS skytrain’s core 23.5-kilometre routes with effect on June 1, Bangkok Mass Transit System Plc (BTSC) announced on Monday. Current fares range between 15 and 40 baht on the original routes from Mor Chit to On Nut and from the National Stadium to Saphan Taksin. The new fares will be between 15 and 42 baht, the first price hike in eight years. Bangkok Governor Sukhumbhand Paribatra last week confirmed that BTSC, the skytrain operator, had the right to increase fares on the BTS electric railway under the company’s concession, valid for the next 17 years. (Bangkok Post website, 29/04/13)

Comment: This will only have a small impact on the company’s numbers


PTTEP profit up — PTT Exploration and Production reported better-than-expected quarterly earnings, thanks to an increase in prices and sales volume. Its quarterly earning rose 11% to Bt20.3bn, up from Bt18.3bn from the same period last year. The company’s CEO Tevin Vongvanich also announced yesterday that the company will issue bonds worth US$1 billion or about Bt30 billion within this year. The dollar-denominated bonds will be offered in a single tranche to foreign investors, to raise funds for business expansion and debt refinancing. (The Nation website, 29/04/13)
Continue reading Stocks in the news (bts, pttep, ttw) 30.04.13