CGD going ahead with its 36 rai Landmark Waterfront project located close to the Chaopraya river. It is ready to open the showroom for this luxury condominium after the go-ahead from Exim Bank, which has approved a loan for the Bt15bn project. CGD will use Beijing Construction Engineering Group as contractor. (Khao Hoon, 18/02/14)
Comment: This family has been waiting to do this project since pre-’97, I’m curious as to how it turns out. Mkt cap today is THB 8 bn, not quite worth a punt yet.
INTUCH reported 2013 net profit of Bt14.57bn, up 5.7% YoY, supported by ADVANC’s rise in net profit. It has announced a dividend of Bt2.16, XD on April 1. The company targets revenue growth of 5-7% this year. (Khao Hoon, 18/02/14)
Comment: Essentially this is just ADVANC but @ a higher yield.
Buys shares in Korat wind power — GUNKUL purchased almost all of a 60MW wind power plant in Nakorn Ratchasima worth Bt432mn. Commercial operations are scheduled to begin in 1Q16. (Khao Hoon, 18/2/14)
Lalin bids to beat stalemate – Lalin Property Plc will place more weight on upcountry markets, cash flow and expense control while maintaining its debt-to-equity (D/E) ratio and managing housing stocks in light of the uncertain political situation. Chief executive Chaiyan Chakarakul said the economy’s fundamentals remain sound and the business sector is ready for an economic recovery. Lalin’s business plan is also flexible to address an upturn or downturn, with a plan to launch 6-8 projects this year worth a combined Bt4bn, depending on the situation. (Bangkok Post, 18/02/14)
THAI sees Bt200 bn revenue for 2014, expects brighter H2 – Thai Airways International will maintain its sales projection this year at Bt200bn and targets earnings before interest, taxes, depreciation and amortization (EBITDA) of at least Bt20bn, though a political cloud still hangs over its business performance. (The Nation, 18/02/14)
TTA expects healthy balance – Thoresen Thai Agencies (TTA) expects its results to turn black this year after two years of net losses. Executive vice-president and chief financial officer Krailuck Asawachatroj said its energy and shipping business will lead growth this year on higher day rates and fully realized revenue from its three jack-up rigs. TTA yesterday announced its best first quarter results in five years, with a net profit of Bt250mn for the period ending Dec 31. Net profit grew 311% YoY, while the group’s consolidated revenue rose 26% to Bt5.3bn. (Bangkok Post, 18/02/14)
Comment: Well it just wrote off all its bad investments, local punters have been waiting for this to finally do something.