What happened this week 06/01 – 10/01

Thailand

  • Public hearings on water-management scheme necessary: judge – A judge at the Supreme Administrative Court recommended yesterday that the court should order complete public hearings for all of the project modules under the Bt350bn water-management master plan, but added that it should refrain from scrapping the scheme, or ordering a public referendum to decide on the outcome. (The Nation, 10/01/14)
  • BAAC chairman disagrees with board decision to use BAAC liquidity to advance to farmers. The board is led by ex-Commerce MP. The chairman argues that the cabinet did not specifically approve the use of funds, and if BAAC uses the money to make advance payments it will lead to a liquidity problem and could trigger a bank run. (Post Today, 10/01/14)
  • BoT looks to stabilize the economy and breed new confidence into Thailand at the upcoming policy meeting. It also notes that the government should be able to finance the Bt2trn projects through normal means without the bill. (Krungtep Thurakit, 10/01/14) Continue reading What happened this week 06/01 – 10/01

Stocks in the news (cpf, rojna, synex, tta, wha) 10.01.14

CPF

CPF buys Belgian food processor – SET-listed Charoen Pokphand Foods Plc plans to acquire a food operation in Belgium as part of its attempt to expand food investment abroad. Through its 99.99% owned holding firm CPF Europe SA, the company will next month pay Bt408mn for 80% of Tops Foods NV. The Belgian maker and distributor of ready-to-eat meals is based in the northern province of Antwerp. (Bangkok Post, 10/01/14)

ROJNA

ROJNA expects 2014 revenue of Bt6bn on booking revenue from current backlog. It is continuing to sell new land and will invest Bt500mn to develop an industrial park in Prachinburi to support expansion in new clients. (Tun Hoon, 10/01/14)

SYNEX

SYNEX aims at 2014 net profit growth of 15-20% YoY by cutting expenses and without provisions. It also aims for revenue growth of 10-12% YoY from 2013 revenue at Bt19bn. It will expand to CML markets, which are expected to generate revenue of Bt1bn a year. (Khao Hoon, 10/1/14)

Comment: The shift in consumer buying habits hurt SYNEX badly as it focuses upon PC goods and accessories, operations-wise it is a well-managed co. Continue reading Stocks in the news (cpf, rojna, synex, tta, wha) 10.01.14