Stocks in the news (bay, earth, mcot, ocean, noble, ratch, spcg) 24.12.13

BAY Expects merger with MUFG to strengthen — BAY expects to be stronger after merging with MUFG, bulked up by that entity’s loan and deposit portfolios. Net profit in 4Q13 is expected to touch Bt4.09bn, a 7.8% YoY increase, supported by the booking of gains from expiration of Vayupak. (Khao Hoon, 24/12/13)

BAY out of MSCI — Effective from 24 December 2013, MSCI will delete Krungsri (BAY) shares from the index due to the substantial reduction in free float. (MSCI)

Comment: This was the primary reason behind the 22% fall in BAY share price yesterday. We saw this last happen with LH, that then had a 30-40% drop over a few days, perhaps BAY could still keep going down.

EARTH Energy Earth budgets Bt3.8 bn for coal mining in Indonesia – Energy Earth has budgeted Bt3.82bn to acquire a coal-mining license in Indonesia to sustain its reserves for 10 years. (The Nation, 24/12/13)

Comment: They still never very rarely open up to investors for visits.

MCOT Revamping primetime programming — MCOT plans to revamp Modernine TV’s primetime programming next year under the Modernine TV Sharing Inspiration concept, which will be launched on 1 January 2014. (Khao Hoon, 24/12/13)

OCEAN Up 28% from IPO on first day — In its first day trading, OCEAN closed at Bt1.15, a 28% increase from its IPO price of Bt0.90. Management said that it will sign a deal for a large order with a Chinese customer today and it reiterate that revenues for 2014 will grow by more than 20% pushing its net margin to 10%. It will also increase its selling price by 15-30%. (Khao Hoon, 24/12/13)

Comment: Pop and drop again?

NOBLE Confident in reaching presales target — NOBLE’s presales in 11M13 reached Bt7bn and it is confident that it will reach its yearend target of Bt7.5bn. The company currently has a backlog of Bt14bn, supporting earnings for 2014-16. Next year it targets presales at Bt8-9bn and aims to launch four new projects worth Bt13bn. (Khao Hoon, 24/12/13)

RATCH eyes fourth wind farm – Ratchaburi Electricity Generating Holding Plc, Thailand’s largest private power producer, is preparing to build its fourth wind farm in Australia after receiving a development license earlier this month. RATCH-Australia Corporation Ltd (RAC) will be the developer of the 165-megawatt Collector Wind Farm project, with construction to begin in 2014 and the farm slated to become operational in 2016. (Bangkok Post, 24/12/13)

SPCG Taking 100% in Solar Power Asset — SPCG is investing Bt90mn to purchase 4.5mn Solar Power Asset shares at Bt20 per share, giving it 100% of the company. It aims to increase returns by investing in two solar power plants with total capacity of 7.46 MW. (Khao Hoon, 24/12/13)

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