ITD and LOXLEY: Likely to win water projects. The government is expected to announce the winners of the Bt350b water management contracts by end of this month. According to the press report, ITD Group (ITD Power China) may win its bid for five modules worth Bt110b. LOXLEY consortium will likely win one module worth Bt4b. (Source: KhaoHoon)
Comment: As per what I mentioned yesterday, yes good news for the stock prices, however I don’t think any construction firm can maintain its margin on these projects
LPN: Two condo projects sold out last weekend. LPN Development launched two condo projects, including Lumpini Park Rama 9-Ratchada and Lumpini Place Srinakarin-Huamark Station projects with total value of Bt5.5b on 8 June. Both projects were sold out during the launch. Its presales ytd amounted to Bt15.5b, accounting for 75% of the company’s full-year target of Bt20.0b. It is planning to launch five condo projects in 2H13 including Lumpini Suite Sukhumvit 24, Lumpini Township Rungsit Klong 1, Lumpini Park Beach Chaam, Lumpini Ville Chaam, the relaunch of Lumpini Mega City Bangna (Building C), and Lumpini Place Hua Hin Soi 7 projects.
Comment: This company is just amazing with its performance. Continues to confound us all with its ability to constantly sell its projects
SCB: Sees strong IPO pipeline. Siam Commercial Bank (SCB) plans to launch property funds, REITs and IPOs worth more than Bt70b this year. Of these, Bt50b will be property funds and REITs and the remaining Bt20b will be IPOs of five companies. (Source: Bangkok Post)
SCB: Sets SME loan growth at 20% in 2013. SCB’s SME loans reached Bt340b in 1Q13 (exceeding its 3-year lending target ending this year). According to the bank, 50-60% of new loans were refinanced from other banks while provinces represent 55% of its SME portfolio. The bank plans to grow its SME lending to Bt360b-370b by the end of this year, up 20% yoy. (Source: Bangkok Post)