Stocks in the news (bay, bmcl, cpall, earth, ptt, pttep, samart, tta) 19.09.13

BAY
BAY to issue 1.14bn shares to BTMU — BAY will issue 1.14bn shares at Bt39 each via private placement to the Bank of Tokyo-Mitsubishi UFJ (BTMU) under a conditional branch purchase agreement, according to BAY’s filing to the Stock Exchange of Thailand. (The Nation, 19/09/13)
Comment: Will need to read more into this, however it does help to set a floor under the price for bay
BJCHI
BJC plans 80m IPO shares – BJC Heavy Industries Plc plans to sell 80mn initial public offering (IPO) shares in the fourth quarter. Based in Rayong, the 19-year-old BJC provides large-scale steel fabrication and modularization services as well as precast concrete for heavy industries. The funds will go to financing its planned production efficiency increase and acquiring land for new plants. (Bangkok Post, 19/09/13)
BMCL
Expects 15% rise in passengers — BMCL expects to boost passenger numbers by 15% this year after averaging 300K per day in the first nine months. It expects EBITDA to reach Bt500mn, reducing this year’s loss to Bt800mn. BMCL will announce further plans to return to profit in October. (Khao Hoon, 19/09/13)
Comment: BMCL still needs more scale 
 
CPALL
Costs up to boost Vegetarian Festival sales — CPALL’s costs will rise by 7-10% as it works to increase sales by offering a wider variety of food for those participating in eating vegetarian. The vegetarian festival is expected to bring in sales of Bt500mn as more in the provinces are expected to participate in the festival this year. The company reaffirms growth of 15% this year. (ASTV Manager, 19/09/13)
EARTH
Expects coal prices to rise — EARTH CEO expects coal prices increase to US$80-90/ton from US$60/ton due to increased demand from China. Reports suggest that coal stocks in China will only last till next month, meaning there should be a rapid increase in coal demand from China. (Khao Hoon, 19/09/13)
Comment: I still look at this co as potential dark house given its assets throughout the region, but many questions still surround the company.
PTT
Maintenance closure in Udon Thani — PTT says its facility in Udon Thani is due to close for maintenance and repairs from 20-24 of September 2013. PTT will halt natural gas distribution from the plant, and will transport 245 tons of natural gas from the central provinces to compensate for the disruption. (Khao Hoon, 19/09/13)
PTTEP
Debentures sell out — PTTEP sold all its US$500mn debentures, adding more than US$2bn to its cash. The funds will be invested to expand its capacity in the country. It expects the Zawtika project with production capacity of 300mn cu ft/day to start production next year. (Khao Hoon, 19/09/13)
SAMART
Looking for good 3Q13 — SAMART group expects good profit growth in 3Q13, supported by increase in product prices of the new smart phone from SIM. SAMTEL has added Bt3bn in backlog and expects more to come in with the startup of digital TV. (Khao Hoon, 19/09/13)
TTA
Mermaid wins new contract — TTA has announced that subsidiary Mermaid has won a new contract worth US$55mn, prompting the company to raise capital to add two drilling barges to its fleet. (Khao Hoon, 19/09/13)
Comment: Still think the company has to work on its capital allocation, Mermaid itself has far too many assets purchased at peak prices still
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