MD says political situation hurting passenger traffic — In January, passengers in its six airports increased 7.35% YoY, failing to meet expectations. It continues to expect passenger growth of 10% YoY in 2014, supported by provincial airports. It will open bidding for phase 2 of Suvarnabhumi airport construction in April. (Khao Hoon, 11/02/14)
Comment: Hurting traffic is a polite way of putting it, have you been to the airport lately? Its empty.
BAY expects loan growth of more than 9% supported by big retail clients, small retail clients, and SME clients. It is preparing to expand into Cambodia, Laos, and Myanmar. (Khao Hoon, 11/02/14)
Comment: We’re guessing that it will be corporate loan growth to Japanese firms in the neighbouring countries
BLAND will book Bt10bn extraordinary gain from corporate bond, which will soon mature, and gain from setting up its REIT. Its 2013 net profit is expected at Bt4.141bn, +77%YoY. (Khao Hoon, 11/02/14)
Comment: Well it’s a story that most people know about already, so everything should be priced in already.
January traffic volume down — BECL reported a contraction in traffic volume of 5.9% YoY to 1.03mn cars/day in Jan 2014, the third month of contraction. (Company, 10/02/14)
Comment: There were less cars on the roads for a period of time because of the blockages.
PYLON won five new projects worth Bt115.95mn, pushing its backlog up to Bt1.1bn. The company will bid for projects worth more than Bt1bn and expects to win Bt300-400mn. It targets revenues this year at Bt1.2bn and said there is a possibility that it may revise its target up in the middle of the year if the outlook of the economy is better. (Khao Hoon, 11/02/14)
Comment: We don’t see the attractiveness in this company, decently run, but limited for growth
Buys 100% of Australian company — THCOM reports the acquisition of 100% of Orion Satellite Systems Pty Limited for AUS$13.37mn. It bought the company to expand into new areas and further increase its rental growth for bandwidth in Australia. (Khao Hoon, 11/02/14)