Stocks in the news (ah, ivl, jas, rs, singer, spcg, spcg, tta) 19.03.14


Aapico to slim down on costs- Aapico Hitech Plc (AH), the SET-listed automotive parts manufacturer, plans to maintain its 2014 profit margin at 3-4%, the same level as last year, even though its revenue is expected to fall by 5-10% in line with sluggish domestic car sales. (Bangkok Post, 19/03/14)

Comment: AH has a long way to go to matching the operational performance of SAT, STANLY and TRU


IVL: PTA spread increased to 1-year high at US$215 per ton, while cotton price hit a 2-year high, supporting an increase in polyester fiber price. (Khao Hoon, 19/03/14)

Comment: Could this be 2010 again for IVL?


JAS targets to sell assets into infrastructure fund in April. Filings were submitted to the SEC at the end of February. Its 1Q14 earnings are to continue strong, supported by the increase in number of broadband users. (Khao Hoon, 19/03/14)

Comment: An infrastructure fund larger than TRUEGIF?


RS retreats on box sale- RS Plc, the rights holder for this year’s Fifa World Cup tournament, is retreating on the sale of its satellite set-top box and the must-have rule after legal pressure from the broadcasting regulator. (Bangkok Post, 19/03/14)


Singer changes strategy to more focus on net profit than revenue and increase price. It expects just 10% revenue growth in 20104 after political unrest. Its 2014 investment budget is Bt140mn. (Khao Hoon, 19/03/14)

Comment: This is still a wonderful business and well-managed company that had begun as a turnaround story in 2008, to a growth story in 2011 and is now in consolidation mode.


SPCG said it will issue Bt4bn worth of new shares and Bt3bn of the proceeds are to repay back its loan, which will in turn help lower interest expense by Bt180mn per year. The process is to be completed by May-June 2014. SPCG also said that the capital increase will help increase its ability to expand and invest in projects abroad and pay dividends. (Khao Hoon, 19/03/14)


The Mahagitsiri family confirmed that they will not sell their shares from the recent TTA capital increase in order to maintain their majority holding. TTA has announced plans to expand its fleet from 20 ships to 25-30 ships using the Bt4.17bn from the capital increase. It expects profit this year, with 1Q14 earnings to be the highest in five years. (Khao Hoon, 19/03/14)

Comment: Punters are loving TTA at the moment

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