Airport departure tax hike stalled — A bid by Airports of Thailand (AoT) to increase airport departure taxes has been stalled by the political conflict but counter check-in fees will go up anyway, by five baht. Department of Civil Aviation chief Woradej Harnprasert said it was unlikely the planned departure tax increase would be approved soon. There had been no meetings called on the issue by the Civil Aviation Committee (CAC). This was because of the absence of political direction, because of the current conflict. The new airport tax increase needs approval from the committee, and then from the transport minister. (Bangkok Post, 04/03/14)
Comment: A temporary delay because of the political situation
Centel defies political woe with gains – Central Plaza Hotel Plc (CENTEL), the country’s largest hotel operator, posted a net profit of Bt1.32bn last year, with strong gains in its hotel and food businesses despite political turmoil and slowing consumer consumption. Profit fell by 17.2% from 2012 due to a Bt579mn extraordinary gain booked in 2012. (Bangkok Post, 04/03/14)
Comment: Met them last week, they will continue to expand outside of Bangkok, hence why their numbers continue to perform well, the issue we saw is that their food business looks crap!
DRT expands to ASEAN market focusing on countries close to Thailand such as Cambodia, Laos, and Myanmar after seeing growth potential from infrastructure investment and property market expansion. It aims at revenue growth of 10% YoY in 2014. (Thun Hoon, 04/03/14)
Comment: The slowdown in upcountry growth has hit DRT strongly Continue reading Stocks in the news (aot, centel, drt, grammy, erw, itd, oishi, pttep) 04.03.14