Eureka Design is expediting negotiations on business prospects in India and Indonesia, which it hopes to conclude by year-end. The company plans to expand its overseas markets to push sales into the top 10 in Asean in the next three years. This year, it expects to achieve its revenue target of Bt400m. Narakorn Ratchapolsitte, chief executive and managing director of Eureka Design, which designs and manufactures machinery for automobile components, said the company had approached Yamaha in Indonesia and Maruti Suzuki in India with proposals. Meanwhile, Eureka is negotiating for new order lots with Toyota, Mazda and Nissan, which it hopes to conclude next month. (Source: The Nation)
Comment: You just have to love a company with the name Eureka, wonderfully 80’s!
Property Perfect (PF) plans to invest Bt19.5b over three years to develop four community malls in Bangkok before putting them into a property fund by 2015. The first two projects, Metro West Town on Kalapapruek Road and Metro East Town in Lat Krabang district, will start construction by 3Q13 and be completed by the end of 2014. Construction of the other two projects, on Ram Intra and Ratchadaphisek roads, will start early next year and be completed in 2015. All projects will be developed by We Retail Plc, an affiliate in which PF holds 90%. Funding will be from project finance, PF’s own cash and the affiliate’s capital, which will be raised from Bt800m to Bt1.3b.(Source:BangkokPost)
Comment: Ambitious project attempted by PF, the stock price had been on a tear in the beginning of the year just purely because of the mentioned potential to sell to a property fund
SCG cements plan of action for Myanmar — SCG will start construction of its first cement plant in Myanmar in the second half of this year after the Myanmar Investment Commission recently gave it the green light. The US$400mn factory markets an important move in Myanmar by SCG. The cement plant will have an annual production capacity of 1.7mn tons. (Bangkok Post, 06/06/13)
Comment: Nice news, but at a cost per ton of USD 235, seems rather high
UOB Kay Hian Securities (Thailand) (UOBKH) sold its 93.47% stake in United Securities (US) to Praphol Milindhachinda for a total of Bt951.37mn. Following completion of the transaction, Mr Praphol is required to launch a tender offer for the remaining shares from other shareholders. US holds four securities licenses for brokerage, securities, but since last October, US temporarily suspended its securities brokerage business while keeping the others operational. Mr. Praphol said his company expects to resume its securities brokerage operations in the next four months. (www.bangkokpost.com, SET, UOBKH)
Comment: Quick numbers suggest cash/share will rise up to THB 2/share