Co Visit: TRU Plc

Niche focus keeps Thai Rung Union Car rolling ahead of its competitors

Thai Rung Union Car Plc (TRU), a Thai-owned company established in 1967 and listed on the Stock Exchange of Thailand in 1994, is a leading automotive industry operator that offers fully integrated services from product design and development to production of various kinds of vehicles, including its own niche specialty vehicles, and after-sales service. Its customers are leading US and Japanese automotive, industrial machinery and motorcycle manufacturers. Managing director Sompong Phaoenchoke discusses the company’s strategy and outlook.

tru

Managing director Sompong Phaoenchoke shows off the TR Transformer, for which the company sees good potential in provincial markets in Thailand.

What is your business model?

TRU has always focused on product design and development through the production of dies and jigs and the manufacturing of metal and plastic automotive parts, seats, and modification of multi-purpose and specialty vehicles. Continue reading Co Visit: TRU Plc

What happened this week 24/03 – 28/03

Thailand

  • Exports rebound, up 2.43% in Feb — Thailand’s exports in February rose 2.43% YoY to US$18.36bn, supported by growth in the shipment of industrial goods, the Commerce Ministry said on Wednesday. Exports were also up on January, when the value fell by 1.98% YoY to US$17.9bn. Imports in February totaled US$16.60bn, down 16.62%, for a trade surplus of US$1.77bn. Exports of industrial goods rose by 6.8% in February, but shipments of agricultural products dropped by 5.7%. For the first two months of 2014, Thailand’s exports totaled US$36.2bn, 0.20% higher than the same period of 2013. Imports during the period totaled US$37bn, down 16% YoY. The ministry still maintains its export target for 2014 at 5% growth on the assumption that the global economy will expand 3.7% and an exchange rate of 31.50. (Bangkok Post, 27/03/14) Continue reading What happened this week 24/03 – 28/03

Stocks in the news (bcp, becl, bmcl, ckp, epco, spcg, ttw) 28.03.14

BCP

BCP lowers 2014 growth target to 6% – BCP has downgraded its revenue growth target from 10% to 6% this year due to political strife and economic slowdown. It has maintained production output at its Bangkok refinery at 94,000 barrels per day despite declining petrol consumption as products with high demand growth are the main focus. It will invest more than Bt12bn including Bt4bn in petroleum business and Bt3.4bn in the third phase of its solar farm business with a capacity of 48MW, all of which are to start up in the third quarter. (Bangkok Post, 28/03/14)

Comment: Despite this, its still the only firm in the energy sector really doing anything.

BECL

BECL predicts toll revenue gain of 4% — BECL expects its toll revenue to grow by 4% this year because of two new expressways opened in May. Traffic in January declined by 5.92% YoY, followed by a drop of 2.69% last month due to the slowing economy. Even if toll traffic was flat, BECL’s revenue was on track to grow by 4% this year, as tolls were raised from 45 to 50 baht for four-wheeled vehicles last September. (Bangkok Post, 28/03/14)

Comment: BECL is a dividend play more than anything else, and is only attractive @ a certain price

BMCL

BMCL set for 11% income rise – BMCL expects an 11% increase in revenue this year as ridership continues to surge. Management says ridership should show an increase of up to 16% YoY in the first quarter and It is unlikely to break even until the 24-kilometre Purple Line project starts running and adds passengers to the existing routes. (Bangkok Post, 28/03/14)

Comment: Similar in a sense to BTS, but completely different in terms of capital structure @ the moment. Continue reading Stocks in the news (bcp, becl, bmcl, ckp, epco, spcg, ttw) 28.03.14