Stocks in the news (ck, dtac, kbank, mcot, nncl, nok, ps, robins, susco) 07.02.14

CK

To issue debentures — CK will issue debentures worth Bt3bn this month and has appointed KTB as its underwriter. TRIS rates CK’s new unsecured bonds at “BBB+”. (The Nation, 07/02/14)

DTAC

TAC TriNet allowed to launch 4G LTE service – Telecom committee of the National Broadcasting and Telecommunications Commission (NBTC) on Wednesday approved DTAC TriNet to launch 4G-Long Term Evolution wireless broadband service on its 2.1GHz spectrum band. (The Nation, 07/02/14)

Comment: Its removed one of the headaches for DTAC

KBANK

KBANK targets middle class for insurance arm — KBANK, the leader in bancassurance, is chasing after middle income customers to maintain double-digit growth in premium income amid the political uncertainty. KBANK targets first-year premiums to rise by 21% to Bt26bn and total premiums by 24% to Bt50bn this year. These growth targets are down from last year, when the bank achieved first-year premium growth of 28% to Bt22bn and total premium growth of 29% to Bt40bn. (The Nation, 07/02/2014)

Comment: Non-loan income is the only way banks can grow this year

MCOT

Misses target in 2013 — MCOT said its net profit in 2013 missed target because its clients postponed placing ads during the political unrest. It expects 2014 revenue of Bt6bn and net profit growth of 3-4% YoY. (Khao Hoon, 07/02/14)

NNCL

NNCL negotiating to buy 800 rai in Nakorn Ratchasima — It expects the deal to wind up within 2-3 months. Its current total land is 3500 rai. Although the political situation has impacted its operations, it expects to grow in the medium to long term. It said revenue in 2013 surpassed 2012’s. (Khao Hoon, 07/02/14)

NOK

Huge drop in passengers — NOK reports a 77% drop in passengers for the past month due to the political situation. It will not change its operational plans or cut back on flights, but will work to efficiently manage costs to handle the situation and will reevaluate the situation after the political situation eases. (Bangkokbiz, 07/02/14)

Comment: 77% drop! Nuff said

PS

More SDH — PS says that in 2014 it will invest more in SDH to bring it up to 28% of total revenue. It expects to launch 9-12 new projects worth Bt11.5-12.6bn. It reports SDH sales of Bt8.36bn or 20% of total revenue in 2013. It will launch two new projects, Delight brand, in February. (ASTV, 7/2/14)

Comment: This will help the company with issues around transfer issues, SDH’s do have far less speculators/investors when compared to condo’s

ROBINS

Robinson heads to Vietnam — The Central Group of Companies, Thailand’s largest retail conglomerate, is expanding its presence in Vietnam with next month’s launch of a Robins Department Store aimed at local shoppers in Hanoi. A second store will be opened in Ho Chi Minh City by the end of 2014. (Bangkok Post, 07/02/14)

Comment: Central is testing the market and consumer purchasing power with robinson’s first

 

 

SUSCO

Susco plans big Petronas station refit — SUSCO will spend Bt200mn to upgrade nearly 100 Petronas petrol stations in a bid to boost company sales by 10% this year. The Malaysian national oil firm sold all assets, including Suria convenience stores, to SUSCO in December 2012 for US$46mn. The deal increased SUSCO’s nationwide service stations to 224 from 139. Last year, sales nearly doubled to Bt23bn from Bt14bn as a result of the consolidation. (Bangkok Post, 07/02/14)

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