AMATA in power JV — AMATA has revealed plans for a joint investment in a small power plant project worth more than Bt500mn with a capacity of 264MW after the board approved the joint venture plan of its two newly set up companies “Amata B. Grimm Power 4 and Amata B. Grimm Power 5”. (Khao Hoon, 15/08/13)
Comment: AMATA has a relatively small stake in this power JV so don’t expect much impact on their bottom line
Banpu cuts capex budget for second time – BANPU is slashing its capital expenditure budget for the second time this year to less than US$1bn (Bt31bn) while refocusing on its financial shape. (The Nation, 15/08/13)
Comment: It will keep falling and falling
To open two branches in Vietnam — BEAUTY aims to open two new branches, Beauty Buffet and Beauty Cottage, in Vietnam in 3Q13, and will open more new branches in Laos, Cambodia and Myanmar in 4Q13. The board has also given the go-ahead for an interim dividend of Bt0.30/share. The company expects profit to reach Bt109.38mn on revenue of Bt480.22mn in 2H13. (Tun Hoon, 15/08/13)
Ch Karnchang secures deal for hydropower plant in Laos – Ch Karnchang signed an agreement with the Laotian government last week to develop the Bt20bn Nam Bak hydropower plant. (The Nation, 15/08/13)
Comment: Having just spent the past weekend in Laos, I can finally understand the amount of hydropower plant projects that are being built there, as for CK, yeah good news for the co.
2Q13 profit jumps 116% YoY — CMO report revenues of Bt276.52mn for 2Q13 with net profit of Bt3.97mn, a 116% increase YoY, supported by continual growth in its museum management business. It will bid for new projects locally and internationally in the second half of the year. Currently, the company has a backlog of Bt400mn. (Tun Hoon, 15/08/13)
M begins trading today — MK Restaurant is to be traded today under the ticker “M”. It is expected to go above its IPO of Bt49/share supported by continual business growth and expansion. Financial experts expect prices to reach Bt62-65/share. (Khao Hoon, 15/08/13)
Comment: Now this is how an IPO should be done!
Panel clears PTTGC of wrongdoing – PTT Global Chemical Plc (PTTGC) correctly handled the oil leak off Rayong last month but bad weather and the customs procedure were the reasons for the spill’s severe impact, an investigation committee said yesterday. The committee set up by Energy Minister Pongsak Raktapongpaisal found PTTGC followed operational procedures appropriately to cope with the accident by using dispersants and attempting to use an airplane in spraying, Vichien Keeratinjakal, a senior member of the National Environment Board, said. However, booms that were used to try to contain the spill did not work well due to strong winds and currents, the committee found, which caused the oil to spread to Ao Phrao on Koh Samet, and the airplane, brought in from Singapore, was held up at customs for many hours, during which the oil spread further. (Bangkok Post, 15/08/13)
All solar farms up and running by September — SPCG says revenues this year will exceed Bt2.5bn and expects all 36 solar farms to be operational by September. The company reported Bt287.23 for 1H13, a 338.12% increase YoY. (Khao Hoon, 15/08/13)
True offering prepaid TV for home, phone – TrueVisions is expanding its pay TV service to offer a prepaid service under the pay-as-you-watch concept, letting viewers get the service on both their TV set and mobile phone with no contract. Prepaid customers are expected to account for up to 70% of the total pay TV market in the next three to five years, he said. Postpaid subscribers, in contrast, are likely to see flat growth. (Bangkok Post, 15/08/13)