Stocks in the news (grammy, ea, itd, mono, pace, ps, tisco, ttt, true) 17.07.13

GRAMMY GMM Grammy issues new shares ahead of license bid – In preparation for its bid to secure digital terrestrial TV licenses, entertainment giant GMM Grammy yesterday issued 106,052,989 new ordinary shares at par value of Bt1 each, to be offered to existing shareholders at a ratio of one new share per five existing ordinary shares at a price of Bt10 each. (The Nation, 17/07/13)

EA 2Q13A up 100% YoY — EA reports strong 2Q13 earnings of Bt55mn, up 100% YoY, bringing 6M13 earnings to Bt130mn, a 125% jump YoY. Earnings were driven by sales of electricity from its solar farms totaling 8MW and growth in sales from its biodiesel business. (Khao Hoon, 17/07/13)

ITD Green light for station bids — ITD is waiting to sign for work to renovate and construct the Khlong 19 – Saphan Klong Luek stations, in a project valued at Bt2.8bn after the board of the State Railway of Thailand gave the okay to the bidding results. The project is an important transit route from Laem Chabang port and also connects to the border of Cambodia, and this will help boost trading. (Khao Hoon, 17/07/13)

MONO Expanding China customer base — MONO will provide content and expand its Chinese customer base by 150mn as cost to enter the business is still low. Gross margin for the first three years is a high 63% and it hopes to pay dividend every quarter. (Khao Hoon, 17/07/13)

PACE Pace plans IPO despite SET volatility – Pace Development Corporation plans to mount an initial public offering of 600mn shares and an institutional roadshow has been organized after approval from the Securities and Exchange Commission on July 2 for listing on the Stock Exchange of Thailand. (The Nation, 17/07/13)

Comment: The biggest white elephant around, we have major doubts on its ability to be profitable with the Mahanakorn project, however this IPO will save them cash wise.

PS

Pruksa’s new team aims for annual growth of 25% – Pruksa Real Estate’s restructured management team aims to focus on all market segments and maintain business growth of least 25% a year, chief executive officer Thongma Vijitpongpun said. (The Nation, 17/07/13)

TISCO Tisco slows lending for used-car purchases – Tisco Financial Group is going slow in financing the purchase of used vehicles as the market situation has changed, with defaults on the rise. (The Nation, 17/07/13)

Comment: We still don’t like Tisco, we only see declining margins, increasing NPL’s and it still has that loan to SSI!

Toyo Tire: Tire subsidiary aims to capture bigger share of market. Toyo Tire (Thailand) Co (TTT), a subsidiary of Toyo Tire & Rubber Co of Japan, plans to grab a 5% share in the Thai automotive tyre market within five years. The company, which was officially launched in April with registered capital of Bt100m, plans to sell 25,000 tyres per month this year, but the figure is targeted to increase to 400,000 units in 2014 and 600,000 in 2015. The company also plans to increase the number of dealerships from the existing 250 to 500 by 2015. Yesterday TTT executives announced that the company would also proactively enhance brand awareness among Thai customers through five new tyre models. This move represents Toyo Tire & Rubber’s confidence in Thailand as a strategic market in Southeast Asia. (Source: The Nation)

Comment: A natural beneficiary from the huge number of new cars on the road in Thailand

TRUE: Sets aside Bt100m for 4G marketing. True Move, the country’s third-largest mobile operator, set a marketing budget of Bt100m this year for fourth-generation mobile broadband services. The company aims to have at least 500,000 4G customers this year, out of a total of 6m 3G subscribers. Kittinut Tikawan, director for device product management of True Corp, said the company is working closely with international handset manufacturers to bring more 4G-enabled phones into the Thai market. (Source: Bangkok Post)

Comment: Can someone please publicly value the company @ its true worth…

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 *