BWG Revenue target achievable — BWG is confident that revenues will reach its target of 30% growth this year due to the higher volume of customers, especially industrial customers, driven by increases in waste and better unit prices. Sales to PTTGC, a customer, will depend on the amount of waste generated by its oil spill. (Khao Hoon, 02/08/13).
HMPRO/LH/QH QH, LH may divest 50% Home Pro stake – The housing developer Quality Houses Plc and its shareholder Land and Houses Plc are in talks to sell their combined 49.98% stake in the building materials retailer Home Product Center Plc to foreign investors. “We have been in talks with several foreign partners. The timing will depend on when we can conclude the negotiations,” Quality Houses (QH) president Rutt Phanijphand told Reuters yesterday. “We want to sell the entire stake if the price is attractive.” (Reuters, quoted in Bangkok Post, 02/08/13)
Comment: Ok aside from the fact that both LH and QH may book 1 time gains, are both companies foreseeing a period of slowing growth for HMPRO?
KKP Loan growth to meet 19% target — KKP expects loan growth to grow as targeted at 19% after loan growth for 1H13 grew by 8%. The company also said it will provision against the higher NPLs, average of Bt400-500mn per quarter, expected to arise out of the first-car scheme. The company said its NPLs are expected to be under control this year at 3-3.5%. (Tun Hoon, 02/08/13)
Comment: We can only see loan growth slowing for KK along with NPL’s gradually increasing.
PTTGC eyes one-week clean-up – PTT Global Chemical Plc (PTTGC) expects to wrap up the oil clean-up operation at Ao Phrao within a week. The company believes the island’s general environment should return to normal within a month, chief executive Pailin Chuchottaworn said. The waste created by the clean-up oil sorbents to soak up oil from the water, and oil slick collectors will be taken to the mainland today. He said the cleaning of sand on the beach has been done but scrubbing oil sludge that clings to rocks along the beach is still continuing. (Bangkok Post, 02/08/13)
Comment: Stock still lacking support, crappy 2Q13 numbers expected along with this fall out
QH subsidiary plans 2 new condos – The Confidence Co, a subsidiary of Quality Houses, plans to launch two new condominium projects worth a total of Bt1.23bn in the second half as it pursues full-year revenue of Bt5bn. (The Nation, 02/08/13)
SMM Expansion to underwrite profit growth of 10% — SMM targets revenue of more than Bt800mn and with profit growth of 10% YoY, undergirded by continual business expansion. In the third quarter, the company expects to publish new comic books and pocket notebooks, up to 30 covers, and to expand the number of its SMM Book Friend bookstores by ten. (Khao Hoon, 02/08/13)
TUF becomes first Thai food producer to join Global Compact : Thai Union Frozen Products (TUF), Thailand’s leading seafood producer and exporter, has joined the United Nations’ Global Compact, an initiative that encourages businesses worldwide to adopt sustainable and socially