Stocks in the news (auct, mcot, mono, pttgc, qtc, ticon, true, ttw) 29.07.13

AUCT IPO of 110mn shares — Mr. Aekpittaya, CEO of AUCT, said the company will be offering 110mn IPO shares at par value of Bt0.25/share and at an offering price of Bt2.00 on July 31 and August 1- 2. It is expected to be traded on MAI on August 9, 2013. (Khao Hoon, 29/07/13)

MCOT Declining ratings likely to hit MCOT revenue in first half : Falling TV ratings hurt the first-half performance of MCOT Plc, the broadcaster of Modernine TV, as it expects revenue of 2.8 billion baht for the period, 20% lower than its projection. (Bangkok Post, 29/07/13)

Comment: A continued decline in their revenue growth is expected given the amount of new competition arising from the Digital TV era

MONO wins Liverpool content contract — MONO won the right to offer content through mobile for a period of three years with “Liverpool” and expects this to support revenues and profits supported by the high number of football fans of up to 14mn. (Khao Hoon, 29/07/13)

PTTGC PTT, navy insist oil slick safe – On Saturday, 50,000 liters of crude oil spilled into the sea off Rayong, threatening a major tourist beach. The leak location is about 20km southeast of Map Ta PHut. Marine Department director-general Sorasak said the slick should be cleaned up in the next few days and it will take no more than a week to remove all of it. He also said the company must be responsible for paying for the cleanup costs. On Sunday, PTT Global Chemical Plc (PTTGC) and the Royal Thai Navy say the oil slick off Rayong province has been contained and is unlikely to cause environmental damage. Locals along Mae Ramphung Beach of Muang district and nearby beaches said yesterday there was no longer an oil odor noticeable in the air, as there had been on Saturday. (Bangkok Post, 29/07/13)

Comment: Likely minimal impact on the company, but if the stock price takes a dive, could be a worth a trade 

QTC Bidding for Bt3bn PEA/MEA projects — QTC will bid for projects from the PEA and MEA worth over Bt3bn and is confident it will get 10% of the work. It expects no less than Bt200mn worth of work in 2H13 to boost its 2013 earnings growth by 10% YoY. It plans penetrate into international markets and expand its capacity by 50% in the future. (Khao Hoon, 29/07/13)

Comment: QTC and TRT operate within a similar space and while the stability of the cash flows is interesting, the amount of competition in in this sector is quite scary for TRT 

TICON Rental space approaching year’s target — TICON said rental space for factories and warehouses was up to 200,000 sqm, close to its target of 370,000 sqm for the year. It expects 2H13 to be strong, as it will book sales from selling assets worth Bt6bn into its REIT in 4Q13. (Khao Hoon, 29/07/13) 

TRUE: To settle dispute with CAT over telecom tower ownership. According to a source from CAT Telecom, TRUE has reached a preliminary agreement to transfer to the state agency 4,500 of the 7,000 telecommunications towers it utilises under its concession with CAT. Ownership of the 4,500 towers is at the centre of an arbitration dispute between CAT and TrueMove. TrueMove has also proposed buying back the 4,500 towers from the state agency and including them in the infrastructure fund’s assets (Source: The Nation) 

TTW 1H13 profit up 21% YoY — TTW’s management reports revenues for 1H13 at Bt3bn, a 16% increase YoY, with profit growth of 21% YoY, supported by higher water sales. The company is to pay a dividend of Bt0.25/share. (Tun Hoon, 29/07/13)

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