Stocks in the news (bay, bla, hmpro, ptt, ticon, uv) 19.12.13


Targets SME loan growth 2-3x GDP — BAY targets SME loan growth in 2014 of two-three times GDP growth, which is expected at 4%. It plans to expand its customer base to include more Japanese with a greater focus on trading business. NPLs are expected to be below 1%. Mr. Nariaki Koto has been appointed as the new CEO and BTMU says the voluntary tender offer (VTO) left it holding 72%. (Tun Hoon, 19/12/13)

Comment: BAY only has a couple percentage points of free float now, will this force the stock to be delisted from the big indices b/c of liquidity requirements?


In first ten months take in more than Bt9.3bnn in business premiums or up 30% YoY, higher than market’s expectations of 20%. It targets business premium growth next year of 10-15%. It also plans to raise investment in equities and reduce its holding in bonds. (Khao Hoon, 19/12/13)

Comment: The argument we’ve read constantly is that Thailand is still an underinsured country


New store in Loei — HMPRO is investing Bt480mn to open a new branch in Loei, which will bring total branches to 64. It expects the Loei branch to generate revenue of Bt40mn per month. (Khao Hoon, 19/12/13)


PTT power unit plans 2014 SET listing -PTT Plc, the national oil and gas conglomerate, plans to list its wholly owned Global Power Synergy Co (GPSC) on the Stock Exchange of Thailand next year. (Bangkok Post, 19/12/13)


Expects 25-30% net profit growth next year — TICON expects net profit will grow 25-30% in 2014. It plans to convert TGROWTH into a REIT in 3Q14 and expand the fund value to Bt12bn. It expects a sharp growth in 4Q13 on the sale of Bt5.5bn in assets to a property fund. (Khao Hoon, 19/12/13)

Comment: TGROWTH was originally planned to be a REIT w/ Ticon already forming a REIT Management company, but b/c of the Revenue Department and the SEC unable to get their act together it had to be postponed 


 2014 revenue growth target of 20% — Univentures is aiming at 2014 revenue of Bt6bn, up 20% YoY, and expects net margin to be better at over 10%, because it will not be pressured by the performance of GOLD as it has been in 2013. It aims to launch six new projects worth Bt10bn. (Khao Hoon, 19/12/13)


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