Stocks in the news (ircp, ivl, kbs, loxley, spali, thcom, wha) 04.02.14


IRCP expects both revenue and net profit growth of 30% YoY. It continues to bid for jobs related to digital TV network. It recently received work from CAT and Thai PBS worth Bt100mn, bringing backlog to Bt600mn. It is negotiating with a partner to get into the set-top box business. (Tun Hoon, 04/02/14)


IVL targets 2014 sales growth of 13%. It will buy PHP to help penetrate the automotive market. It has budgeted US$500mn for business expansion. (Khao Hoon, 04/02/14)

Comment: This company will continue to aggressively grow.


KBS confident 1Q14 sugar production and sales will increase. The company will start testing its biomass power plant early in March. It expects the biomass project will help increase revenues by Bt200-300mn this year. It also expects sugarcane sales to grow 5% and sugar by 10% YoY. (Khao Hoon, 04/02/14)

Comment: Sugar is a seasonal business and in Thailand there is a scheme that does limit the spreads sugar makers can generate 


LOXLEY confident after getting many jobs in early 2014. It expects to get the job of setting up the digital TV system for Channel 5 in 1Q14. It hints says it plans to bid for new projects worth Bt18bn. Its current backlog is Bt10bn, 60% of which will be recognized in 2014. (Tun Hoon, 04/02/14)

Comment: Another beneficiary of the digitial TV scheme


SPALI targets 2014 revenues Bt20bn, presales Bt22bn. It has presales of Bt39bn ready to be transferred. The company aims to launch 26 new projects worth Bt33bn this year. Management says it missed its revenue target of Bt13.5 last year due to the political turmoil that affected transfers in 4Q13. (Khao Hoon, 04/02/14)


Thaicom 6 in full service since Feb 1, 2014, after completing its signal quality test and ownership transfer to the ICT ministry. (Khao Hoon, 04/02/14)

Comment: This firm has done incredibly well since the new CEO took over in 2011, something to watch perhaps with the Digital TV


WHA announces solar rooftop project. It is preparing to sell electricity to the Provincial Electricity Authority within the next two months and book the first revenue in 2Q14 and ~Bt9mn/MW per year. It expects to transfer ~50,000 square meters in factories in 1Q14. (Tun Hoon, 04/02/14)

Comment: A small impact on the overall profitability of the firm

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