Stocks in the news (bam, banpu, bh, ktb, pttgc, scc, tpoly, true, vgi) 01.08.13

BAM on target for stock listing in 2014 – Bangkok Commercial Asset Management (BAM), the state-owned debt management firm, confirmed its plan to seek listing on the Thai stock market by mid-2014. President Krit Sesavey said it is waiting for its parent Financial Institution Development Fund (FIDF) to allow it to move forward with its listing plan, and it expects approval later this year. (Bangkok Post, 01/08/13)

Comment: I am bloody interested in seeing the assets on this company’s balance sheet!

BANPU announces par split from Bt10 to Bt1 — Banpu Plc has informed the SET that the Board of Directors has approved the change of par value of the shares from Bt10 to Bt1. The registered ordinary shares will be changed from 354,050,479 shares to 3,540,504,790 shares and the paid-up ordinary shares will be changed from 271,747,855 shares to 2,717,478,550 share. This requires shareholder’s approval in the extra general meeting (EGM) to be held on 9 Sep 2013. (SET)

Comment: Well that’s one way to try and support and sagging stock price, however the fundamentals just aren’t there yet

BH Expansion in place in 2H13 — BH expects 2Q13 profits of Bt540mn and aims to expand the number of hospital and ICU beds in its old hospital in Nana in the second half of the year to help increase the number of patients and push its profits for the year to Bt2.34bn. (Khao Hoon, 01/08/13)

KTB forges ahead with B10bn in NPA sales – Krungthai Bank (KTB) is maintaining its Bt10bn target from selling its non-performing assets (NPAs) this year, despite weaker-than-expected economic growth resulting from lackluster domestic consumption. The country’s second-largest bank by assets already received Bt5bn for its NPAs during the first six months this year, said Suchart Dejittirut, the bank’s executive vice-president. (Bangkok Post, 01/08/13)

PTTGC PCD says PTTGC used excessive amounts of dispersant – The Pollution Control Department says PTT Global Chemical Plc (PTTGC) used excessive amounts of dispersant in its attempt to clean-up the Samet oil slick. Pollution Control Department chief Wichian Jungrungreon told the Bangkok Post yesterday that his agency gave permission for the firm to use only 5,000 litres of the dispersants Slickgone NS Type II/III. Mr. Wichian said PTTGC had asked for permission to use 25,000 litres of the dispersant on Sunday but the amount was restricted to only 5,000 litres. (Bangkok Post, 01/08/13)

Comment: As mentioned, a trading opportunity.

SCC 2Q13 beats estimates — SCC reported better than expected 2Q13 earnings, with profits of Bt9.92bn, up 132% YoY, pushing its 1H13 profit up to Bt18.72bn. The company is to pay dividends of Bt5.50/share and has raised its target revenue for the year to Bt43.7bn. (Khao Hoon, 01/08/13)

Comment: Hands down the most consistent best performing, well managed large cap company out there.

TPOLY Two new projects won — TPOLY won two new projects, “Central Samui” worth Bt520mn, and the Faculty of Medicine building for the University of Narathiwat – Phase 2, worth Bt182.5mn. It targets backlog of Bt4bn by year end and plans to bid for more projects worth more than Bt8bn to help push its revenue growth for the year to 15-20%. (Khao Hoon, 01/08/13)

TRUE True vows no delay in Bt70bn fund – True Corporation is determined to move ahead with a planned Bt70bn infrastructure fund despite an unsettled dispute with its concession owner, CAT Telecom. (Bangkok Post, 01/08/13)

Comment: Well they need the cash!

VGI BTS media arm to split par – VGI Global Media Plc plans to split the par value of its shares to 10 satang from one baht, it said in a filing on Tuesday. The plan is pending shareholders’ approval on Sept 19. The media arm of the skytrain operator reported a reviewed second quarter net profit of Bt308mn, up by 91.8% YoY. For the three months ended June 30, total revenue rose by 31.8% YoY to Bt861mn. (Bangkok Post, 01/08/13)

Comment: Difference between this and Banpu’s? VGI is a growing company with fantastic margins.

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