Stocks in the news (bkd, bland, ea, m, major, prin, pttep, ptt, pttgc, ticon, tta) 16.08.13

BKD Listing on mai this quarter — Bangkok Dec-Con (BKD) is to conduct an IPO to sell 180mn shares and be listed in the mai index in 3Q13. Proceeds will be used to expand its business and to help push revenues up by 10-15% from last year’s Bt942.60mn. The company has a current backlog of Bt800mn. (Khao Hoon, 16/08/13)

BLAND Impact first to set up REIT in Q4 – Impact Exhibition Management, a business unit of the SET-listed Bangkok Land Plc, is to launch the country’s first real estate investment trust (REIT) in the fourth quarter with a size of Bt20bn to finance Impact Exhibition’s second phase. (Bangkok Post, 16/08/13)

Comment: It has been 10 years in the making but finally they are doing it!

EA Strong year on solar profits — EA is confident that profits for 2013 will grow strongly, supported by its solar business, after net profit of Bt60mn in 2Q13, a 114% increase YoY. Management also said that a 90MW solar farm will be operational next year and help increase profit by Bt915mn. (Khao Hoon, 16/08/13)

M MK heats SET to a frothy boil – Shares of the sukiyaki restaurant chain operator MK Restaurant Group Plc (M) rose as much as 13.3% on their market debut yesterday, indicating investors remain hungry for public offerings. (Bangkok Post, 16/08/13)

Comment: Well hungry for IPO’s that make sense, eh-hem pace!

MAJOR Buying more licenses — MAJOR says it plans to acquire more licenses, after recently acquiring a character license for “Hello Kitty” to use on moon cakes. The company expects concession revenues to exceed Bt1.2bn, growing by 25% YoY. (Khao Hoon, 16/08/13)

PRIN Bt2.9bn in 2013 revenues expected — PRIN estimates that revenues for 2013 will stand at Bt2.9bn as the company expects to continue launching more single-detached house and townhome projects in 2H13. On August 17, the company will be launching three projects: Zerene, INONATURE, and Citysense, worth a total of Bt2.6bn. (Khao Hoon, 16/08/13)

PTTEP to raise petroleum production 10% in 2014 – PTT Exploration and Production (PTTEP), Thailand’s sole publicly listed petroleum explorer, expects its petroleum production will rise by 10% next year to between 365,000 and 370,000 barrels of oil equivalent per day from 340,000boed at present. (Bangkok Post, 16/08/13)

PTT/PTTGC Lightning strike forces GSP shutdown — PTT’s gas separation plant unit 5 (GSP#5) has to be closed unexpectedly for 3-5 months due to an accident at its Waste Heat Recovery Unit (WHRU) caused by a lightning strike. This will cut gas feedstock to PTTGC’s olefins cracker (I4-2) with the capacity of 450ktpa. PTTGC’s preliminary assessment suggests that this unplanned shutdown will cost it Bt400/mn in net profit lost. (Company press release)

Comment: Nothing seems to be going PTT Group’s way these past few months

Ticon earmarks Bt12 bn to buy land for rental factories, warehouses : Ticon Industrial Connection has budgeted Bt12 billion this year to buy land for the construction of additional ready-built factories and warehouses for rent ahead of the expected growth in demand when the Asean Economic Community becomes effective in 2015. (Source: The Nation)

Comment: Still the best managed rental factory business

TTA Forex cited as one cause of TTA net loss in fiscal Q3 : Coal inventories and foreign-exchange losses affected Thoresen Thai Agencies’ financial results in the third quarter of this fiscal year, with a net loss of Bt273 million and loss per share of Bt0.28 for the quarter, which ended on June 30. (Source: The Nation)

Comment: While I’ve liked the idea by the CEO to diversify its businesses away from pure shipping, its investments thus far haven’t performed, Mermaid had overpaid for too many assets, unique mining hasn’t performed for years, etc etc… It may still be years before this company ever performs

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