Stocks in the news (cpn, fns, pttgc, siri, tpark) 31.07.13

CPN At CPN, B53.2bn for new Rayong mall – Despite the gloomy global economy, leading local retailers vow to maintain their business plans in order to meet sales projections this year. Central Pattana Plc (CPN) is the most active, intending to use Bt3.2bn to build a new shopping mall in Rayong and capture rising spending power in the industrial eastern province. (Bangkok Post, 31/07/13)

Comment: Still a growing region of Thailand because of the industrial estate growth

FNS Extra gain to boost 3Q13 — FNS is to book in revenues from the sale of FSS shares worth Bt625.4mn to Finansa Securities, one of its subsidiaries. This will give it high profit in 3Q13. Moreover, Finansa Securities is expected to raise capital by Bt200mn. (Khao Hoon, 31/07/13)

Comment: Short term one time pop for the stock

PTTGC Plodprasop vows PTTGC will pay – Thailand is ill-equipped to handle the Rayong oil spill, Deputy Prime Minister Plodprasop Suraswadi admitted yesterday. He also said the government must set up a committee to handle the catastrophe. Mr Plodprasop conceded that Thailand lacked sufficient equipment to deal with the situation and prevent the oil slick from reaching the shore. Mr. Plodprasop said authorities should seek help from Singapore, which has proper equipment to contain oil slicks. The deputy premier said PTT Global Chemical Plc (PTTGC) would be “paying every baht” to cover the cost of damages, according to Mr. Teerat’s tweet. (Bangkok Post, 31/07/13)

Comment: PTTGC has been hurt with the stock dropping from 73 to 67 as of now

SIRI D-Condo – six more in six provinces — SIRI is to launch six projects for its new brand ‘D-Condo’, in six provinces worth Bt6.38bn, to expand its customer base in provincial areas. Presales for all six projects are to start Aug 3rd at “d-Gallery” in Sukhumvit 77. (Khao Hoon, 31/07/13)

Comment: Their presales are down 70% QoQ, it’s a worry and something we’ve expected

TPARK TPARK buys 180-rai plot for expansion in free-trade zone – Ticon Logistics Park, otherwise know as TPARK, has inked a deal with Prospect Development to purchase 180 rai of land in the Bangkok Free Trade Zone (BFTZ). (The Nation, 31/07/13)

If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.

Leave a Reply

Your email address will not be published. Required fields are marked *