CK optimistic — Thailand’s third-largest contractor by market value expects the cabinet to approve today a contract worth over Bt20bn to supply trains and operation system of the Purple mass-transit rail line. Following the endorsement from the cabinet, the SET-listed subway operator Bangkok Metro Plc will sign the contract with CK this month for the route running from Bang Sue to Rat Burana, the contractor said in a statement yesterday. The contract will take 40 months to complete, said Plew Trivisvavet, CK’s president and chief executive. (Bangkok Post, 20/08/13)
Jaymart plans MAI listing for JAS Asset next year — Major handset retailer Jaymart plans to list its subsidiary JAS Asset on the Market for Alternative Investment in the third quarter of next year to raise funds for expansion of its IT community mall business. (The Nation, 20/08/13)
Comment: I still love this business and this is only going to be a catalyst for the stock price next year
Says good 3Q13 ahead — SIRI confirms that earnings 3Q13 will be bright with backlog of Bt64-65bn and the launch of six new projects worth Bt6.4bn in August. Revenues for 2013 are expected to reach Bt35bn. SIRI also plans to issue debt worth Bt1bn in order to set up a foreign subsidiary for new projects. (Tun Hoon, 20/08/13)
Comment: Repeat after me..I…don’t…trust…you
Profit to continue growing in second half — THCOM expects continued profit growth in 2H13 and will book profit from the Synertone and Thaicom 6 deal in 4Q13. It targets revenue growth for the year at 8-10%. (Khao Hoon, 20/08/13)
Mizuho said to be sizing up TMB Bank — Mizuho Financial Group Inc’s fruitless search for profit growth in Japan is pushing the lender on an acquisition hunt through ASEAN that may lead to Thailand’s TMB Bank or PT Bank Pan Indonesia. Burdened with the lowest loan margins of Japan’s three biggest lenders, Tokyobased Mizuho may spend as much as US$5bn on deals to improve earnings, said BNP Paribas SA. Japan’s decision to fight deflation with low interest rates has already turned the country into Asia’s least lucrative lending market. (Bangkok Post, 20/08/13)
Comment: So is the Finance Ministry’s stake finally going to be sold?