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
MCOT to appeal over Sorayuth payment – MCOT will appeal against the Central Administrative Court’s order for it to pay over Bt55mn to Rai Som Co, the company owned by well-known news program host Sorayuth Suthassanachinda. (Bangkok Post, 27/09/13)
Looks for 10% growth in domestic cement demand — SCC expects domestic demand to grow by 10% due to government investment in infrastructure and in response SCC has cut its export target by 1mn tons. It also plans to restructure its plan to raise capital for petrochemical plants in Vietnam to cope with rising cost of borrowing. (BangkokBizNews, 26/09/13)
CIMB Thai offers floating-rate loans to SENA clients – CIMB Thai is offering mortgages with a floating interest rate throughout the tenor of the loan to customers of SENA Development. The partners are touting the scheme as a way to resolve the problem of high mortgage rejection rates among low-income earners. (The Nation, 27/09/13)
Comment: Erm, good for the bank, good for the develops but I think bad for the customers.
TTA names Chalermchai as new CEO – The board of Thoresen Thai Agencies Plc (TTA) has appointed executive vice chairman Chalermchai Mahagitsiri as president and chief executive. (Bangkok Post, 27/09/13)
Comment: So its takeover is complete, honestly doubt there will be any major impact on TTA going forward