Management Trades 23/09 – 27/09

Notable Transactions

Buy(s) THB 1 bn

  • POST – The Chairman and Director both buy THB 41 mn shares
  • TFD – A huge buy by the Exec Chairman @ THB 834 mn done via a combination of shares and warrants. Pre this he held 24% of the co, this should bump him up to 32% (excl warrants)

Sell(s) THB 30 mn

  • CHG – Again the same fellow sell shares here, this time THB 30 mn
  • MINT – Interesting, Anil Thadani has been a long time shareholder/partner/director of MINT, I don’t think these share sales imply much re the valuation.

130930 mgmt_trades

Stocks in the news (gfpt, bbl, mcot, rs) 30.09.13


Earnings to be best in 3Q — GFPT says that 3Q13 earnings will be the year’s best, with 2H13 beating out 1H13. It expects profit to 10% YoY to Bt16Bn. (Khao Hoon, 30/09/13)

Comment: Commented here before, wonderful co, and went through the oversupply situation in the past 1.5 years without issues.


Admits to rise in NPLs, but not alarming — BBL says the economy is slowing and NPLs have been pushed up to Bt45bn from Bt41bn, not yet worrisome. BBL also said that it would not sell its NPLs. (Bangkok Post, 30/09/13)

Continue reading Stocks in the news (gfpt, bbl, mcot, rs) 30.09.13

Random Thoughts: Babushka!

Finally back in Bangkok after two weeks in Europe, one of which was is in Moscow. A fabulous country, a fabulous city, its a properly developed city with wonderful architecture, a history second to none, a culture that is incredibly unique, a metro that is better, cleaner and safer than what I’ve seen in NYC and london, and despite their constant angry look Russians are incredibly friendly. And hey their stock market is incredibly cheap, gazprom is 3x PE, the index is @ 5x..sometimes you have to ask, what are we investing in Thailand for?

Has anything changed in the two weeks I’ve traveled..nope..the news is same with the Fed, the US Government shows how politicians are ridiculous human beings, the Thai Government is still trying to figure out how to push through the infrastructure bill and the Mr T “Please let me come home” bill. The local market has been volatile but essentially hasn’t moved in 2 weeks, its sometimes good to not look at headlines for a while and just sit back and think.

Continue reading Random Thoughts: Babushka!

Quality experience the key to Major’s success

Major Cineplex Group Plc (MAJOR) is Thailand’s leading entertainment lifestyle company, with core businesses in cinemas, bowling, skating rinks, retail space, film distribution and media advertising. Chairman Vicha Poolvaraluck discusses the company’s strategy and outlook.


Plenty of room for growth, says Mr Vicha.

Why is Major defined as a lifestyle company and not a cinema company?

We consider ourselves an entertainment lifestyle company, as we want to provide our customers with the best entertainment experience possible, be it in terms of the best movie screens, the best popcorn, the best bowling, karaoke or ice-skating experience. All of these activities are part of our customers’ lifestyles, and we intend to entertain them and provide the best possible experience.

Continue reading Quality experience the key to Major’s success

What happened this week 23/09 – 27/09


  • BoT will regulate gold trading to curb speculation – The Bank of Thailand is looking to regulate gold trading, as it suspects gold imports have been used to speculate on exchange rates. The central bank also wants to protect retail investors who buy gold-linked financial papers. (Bangkok Post, 22/09/13)
  • Ministry plans 16 measures to boost trade, aim is to lift Q4 exports by US$758mn — The Commerce Ministry has introduced 16 measures to boost exports of food, agricultural-industrial, and industrial goods in the final quarter of the year. (The Nation, 23/09/13) Continue reading What happened this week 23/09 – 27/09

Stocks in the news (chg, cpf, cth, mcot, scc, sena, tta) 27/09/13


Lots of cash, plans to buy hospitals — CHG currently has over Bt390mn cash in hand and plans to acquire 1-2 new hospitals. Its revenue and profit are expected to grow at 20%. (Khao Hoon, 26/09/13)

Comment: Still curious about the management share sales, which have been substantial, first thoughts go to BGH buying in, not sure though.


Clearing up listing misunderstanding — The earlier report that CPF wants to list on the NYSE was a misunderstanding. What it does intent is to list on Dow Jones Sustainability Indexes (DJSI). CPF also said that bird flu will not affect its production, as it retains full confidence in its quality control and production standards. The company restated that poultry exports will grow 15-20%, pushing revenue to grow 5-10%. (Khao Hoon, 26/09/13)


Plans to list next year — Pay-TV operator CTH plans to do an IPO and list on the SET in 2015, although admitting that it might revise its sales target because of some difficulties with set-top box installations and piracy. But it says its long term plan to break even within three years is still on track. (Khao Hoon, 26/09/13)

Comment: A major player, however the impact on True hasn’t been as negative as I initially thought as we’ve found that the majority of people are using CTH as an add on to their existing True service

Continue reading Stocks in the news (chg, cpf, cth, mcot, scc, sena, tta) 27/09/13

Stocks in the news (advanc, dtac, kpn, ktb, nine, mc, tgpro) 25/09/13


AIS moves to become leader in mobile payments – Advanced Info Service (AIS) will launch a new mobile-wallet service for online shopping. Already the largest mobile operator, the move is aimed at becoming the leader in mobile payments. The virtual credit card payment service, which AIS claims is the first in Thailand, lets online shoppers pay with their mobiles. (Bangkok Post, 25/09/13)

Comment: This could be a good cash flow generator for AIS, however I doubt it’s going to make much impact on the bottom line for years if not ever


DTAC’s 4G proposal rejected – The national telecom regulator has rejected a proposal by Total Access Communication (DTAC) to run its fourth-generation (4G) mobile broadband service under the existing concession. (Bangkok Post, 25/09/13)

Comment: Well they had to try!

Continue reading Stocks in the news (advanc, dtac, kpn, ktb, nine, mc, tgpro) 25/09/13

Stocks in the news (cho, intuch, lpn, thcom, vibha, winner) 24/09/13


Dividend this year — CHO is confident that it will be able to wipe out its accumulated losses in 3Q13 and start paying dividends this year, back to its dividend policy of no less than 40% of net profit. It expects 2013 revenues to achieve its targeted growth of 20%. It is waiting for new work worth Bt395mn. (Khao Hoon, 24/09/13)

Comment: Helps to support the stock price


Takes on two new partners — INTUCH has signed on two new partners, “Computer Logie” and “Meditech Solutions” for its new invention project. (Khao Hoon, 24/09/13)

Comment: ADVANC is the key reason for this stock still performing well as well as the upcoming digital TV bids


LPN Development ups presale target on strong condo demand – After witnessing strong demand for condominium projects in the first eight months of the year, LPN Development has raised its 2013 presales target from Bt20bn to Bt24bn. (The Nation, 24/09/13)

Comment: They are just performing incredibly well regardless of what the news says about the property market

Continue reading Stocks in the news (cho, intuch, lpn, thcom, vibha, winner) 24/09/13

Management Trades 16/09 – 20/09

Notable Transactions

Buy(s) THB 388 mn

  • GRAMMY – The owner buys a whopping THB 332 mn worth of his own shares
  • KMC – This seems to be a turnaround property story, recapped sometime last year and/or this year, and the Chairman has bought some THB 21.6 mn

Sell(s) THB 121 mn

  • CHG – There’s been a lot of selling by directors/owners of CHG, I don’t know if they are selling to BGH or just in the market itself.
  • 130923 mgmt_trades

Stocks in the news (cho, dtac, ivl, slc, threl, tmb, ttcl) 23.09.13


Free warrants — CHO plans to offer free warrants to existing holders, in hope to bolster its capital base. The company is to propose and wait for the shareholder’s approval at the Extraordinary General Meeting of Shareholding on Oct 16. (Khao Hoon, 23/09/13)

Comment: Every thai trader/shareholder loves free stuff.


DTAC sees large pent-up demand for 4G wireless broadband service – Total Access Communication (DTAC) said there is broad potential demand from subscribers in its network for a wireless broadband 4G service. (The Nation, 23/09/13)


Recovery in 2H13 — IVL expects recovery in its business in 2H13, supported by seasonality and higher demand for PTA, pushing its revenues up to reach target growth of 15%. The company has increased its capacity from its original 7mn/ton/yr to 8mn/ton/yr and points out that costs have dropped drastically by US$150mn. (Tun Hoon, 23/09/13)

Comment: Its a cyclical game for IVL, some say that have over expanded, we say that they expanded by taking over troubled smaller competitors inorder to boost their global footprint further and have the correct mindset to ensure that they can survive a downturn in their industry for a long time. Continue reading Stocks in the news (cho, dtac, ivl, slc, threl, tmb, ttcl) 23.09.13