Stocks in the news (aav, banpu, bmcl, ccp, ktc, smpc, uv, wha) 11.11.13


3Q13 profit Bt290mn — AAV reports 3Q13 profit of over Bt290mn, +59% growth QoQ. This is due to a 30% increase in cabin factor, raising revenue to over Bt5bn revenue. 9M13 net profit is at Bt1.5bn, 70% growth YoY. (Khao Hoon, 11/11/13)

Comment: As long as they stay away from buying planes then ok but we prefer to avoid this one.


Banpu targets high-growth countries – With strong energy demand in India, Indonesia, the Philippines and Vietnam, in line with economic growth and infrastructure development, Banpu Plc plans to boost sales in these countries through its Indonesian coal mines. Banpu chief executive Chanin Vongkusolkit said his company will focus on sales growth in high-potential markets and does not need new investment. (Bangkok Post, 11/11/13)

Comment: Nice but still overvalued


CK-BMCL sign contract with Marubani-Toshiba. — Marubani-Toshiba will provide 63 skytrain cars, and service them for 10 years. The contract is for Purple Line, Bang Yai – Bang Sue (Khao Hoon, 11/11/13)


3Q13 profit Bt49mn — CCP 3Q13 generated over Bt724mnin revenue with profit of Bt49mn, without extraordinary items. 9M13 came to profit of over Bt130mn. It remains confident that 4Q13 will be good as it plans to sell land in Pattaya for over Bt300mn. (Khao Hoon, 11/11/13)

Comment: That land sale is going to make punters love this stock


NPLs slowing — KTC said that NPs in 3Q13 slowed from 2Q13, with full year target set as less than 3.5%. This will generate additional dividend to parent company (KTB). KTC remains confident that increase in household debt will not affect its profit making ability. (Khao Hoon, 11/11/13)

Comment: We used to like KTC but with the turnaround story finished, don’t see much upside left.


Back to trading — SMPC will return to the board today after de-listing. Its board has reassured shareholders that major stake holders will not liquidate their holding. It is setting an AGM for December 13. (Khao Hoon, 11/11/13)


Another capital increase — UV plans to raise capital again (no less than Bt1bn). The proceeds will be use to convert 235.48 GOLD-W1 contracts at strike price of Bt3.00, totaling Bt700mn. This year the firm is still making a loss, however the board is confident coming quarters will be better. (Khao Hoon, 11/11/13)


Roadshow this month — WHA will undertake a roadshow in Hong Kong and Singapore in mid-Nov. It expects revenues for 2013 to reach Bt7.1bn and to raise Bt4.65 from the sale of assets into WHAPF. (Khao Hoon, 11/11/13)

Comment: Still can’t justify its lofty valuations, Ticon is a far better choice.

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