Stocks in the news (bay, bec, cpn, hydro, tgpro, tmb) 22.08.13

BAY bullish on SME loans despite economic slowdown – The Bank of Ayudhya (BAY) maintains its 15% growth target for its small and medium-sized enterprise (SME) loans this year on expectations that the country’s economy will return to normal growth in the next six to 12 months. Thailand’s fifth-largest lender by assets typically sets its SME loan growth at two to three times higher than the country’s gross domestic product (GDP) growth. BAY expects its SME loan portfolio will increase to Bt208bn by yearend from Bt196bn now. This year’s target is part of the bank’s aggressive goal to join the top three SME lenders with a portfolio of Bt300bn by 2019. (Bangkok Post, 22/08/13)

Comment: We’re hearing that the majority of banks are going to decrease the amount of “risky” loans on their books

BEC

BEC raising ad rates — Channel 3 will raise its advertising rates by 5-10% on weekend evenings from Oct 1 on the back of brisk demand despite the economic slowdown. The increase will be for the 5.45-7.15pm time slot on Saturday and Sunday. (Bangkok Post, 22/08/2013)

Comment: Small impact on the overall business

CPN

Central Pattana to invest Bt12 bn to Bt14 bn in local, overseas malls – Central Pattana (CPN) has budgeted between Bt12-14bn for investment in new shopping complexes as well as mergers and acquisitions, including possible overseas expansion to Malaysia, Indonesia, Vietnam and Myanmar. (The Nation, 22/08/13)

Comment: They’ve now expanded through the public company to M’asia, I do wonder how they will perform operating outside of Thailand

HYDRO

Good profit recovery in 2H13 — HYDRO says it will turn a profit this year with a dividend payout at no less than 40%. Management sees recovery in the second half of the year and revenues for the year of no less than Bt880mn supported by Bt1.5bn backlog. It also expects to sign for work in Myanmar worth Bt360mn this year. (Khao Hoon, 22/08/13)

TGPRO

High demand to push growth — TGPRO announced that its business is growing strongly in second half of the year, supported by continued high demand. It said there is a possibility it could pay dividends by the end of this year. Profits are expected to grow as targeted at Bt200mn and TGPRO is working to list its trading company. (Tun Hoon, 22/08/13)

TMB

Bidding for JP Morgan stake in Sept — JP Morgan announced that bidding for its 31% stake in TMB is to take place early September. Tender price is set at Bt3.86/share and it expects fierce competition as many players such as Mizuho and Sumitomo group, Maybank and ICBC are all participating in the bidding. (Khao Hoon, 22/08/13)

Comment: Seriously thb 3.86/share? nuts!

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