Stocks in the news (BBL, BMCL, BTS, KTB, PRIN, PSL) 10.02.14

BBL

Management aims at 2014 loan growth of 5-7% after 9.2% in 2013. It expects all loans to continue to grow. It aims at SME loan growth at 6-8% to take 28% of total loans. (Khao Hoon, 10/2/14)

BMCL

Targets 20% passenger growth in 2014 — The managing director of BMCL set passenger growth for the year at 20% after figures show an average 300,000 riders per day, with the highest number at 370,000. It is also ready to bid for the Blue Line extension. It is confident that it has advantages over its competitors and is in a strong financial position after its last capital increase and does not need to find a partner. (Khao Hoon, 10/02/14)

Comment: Debt levels are still high for BMCL, if you need a mass transport play then look towards BTS instead

BTS

BTS partnering with China company to bid in China — BTS is partnering with CITIC in setting up “BTS-CITIC Consortium” to bid for a concession for 16 underground train stations in Beijing for a period of 30 years. If it wins the bid, the total investment value that is required for the project is 15bn yuan. Results are to be released within three months. (Khao Hoon, 10/02/14)

Comment: They have a decent dividend pay out for the next few years, this coupled with a potential bid management in Indonesia could bode well for the company

KTB Lowering loan growth target — KTB will revise down its loan growth target after the first quarter since the political situation is taking longer to resolve than anticipated and has hurt investment in both the private and public sectors. However, it said there is no need for special measures as it expects the second half to improve. (Krungthep Turakij, 10/02/14)

PRIN

PRIN preparing to sell Bt450mn bond with 3 year maturity at 6% coupon rate. It will sell the bond to both big retail and institutional investors during 10-12 Feb; it will use the funds to expand. It expects to launch six new projects worth Bt5.7bn and is preparing to buy Bt1bn worth of land. (Khao Hoon, 10/02/14)

PSL

PSL reports 2013 net profit of Bt527mn supported by gain from debt restructure and cancellation of a shipbuilding contract. It has 40 ships. It will pay a dividend of Bt0.1 a share. (Khao Hoon, 10/2/14)

Comment: An easy play for the global rebound in shipping and management does trade its cycles well

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