Stocks in the news (aot, ea, intuch, nok, global, qh, scc, true) 03.03.14


AOT to pay dividends of Bt4.6bnand expects revenues for the year to exceed Bt100bn.(Khao Hoon, 03/03/14)


As expected, EA reported strong net profits at Bt268mn, 150% YoY, supported by its solar farm business that continued to grow strongly.(Khao Hoon, 03/03/14)

Comment: An infrastructure fund next for this group?


Tight lips— Temasek Holdings, the major shareholder of InTouch Plc, is keeping its lips tightly sealed over the anti-government movement’s allegation that the Thai telecom giant is still linked to the Shinawatra family, reiterating that the information was wrong.(Bangkok Post, 03/03/14)


NOK targets 8mn passengers in 2014with cabin factor at 80%. It will open a new route to Ho Chi Minh. Although the political turmoil in Thailand has dragged cabin factor down to 75-80%, NOK still reported net profit of Bt1.075bn, a 113% increase YoY.(Khao Hoon, 03/03/14)

Comment: We still don’t see NOK being able to compete with AAV (air asia)


GLOBAL reported 2013 net profit of Bt885mn, +40.96% YoY, with revenue of Bt14.3bn, +32.64% YoY. It will a pay stock dividend in ratio of 6 existing shares to 1 new share with a cash DPS of Bt0.185, XD 13 March and payment on 29 April.(Khao Hoon, 3/3/14)

Comment: Astounding growth numbers.


Quality Houses cuts growth forecast- Quality Houses Plc has revised down its business growth forecast from 10% to only 5% this year due to the country’s prolonged political turmoil.(Bangkok Post, 03/03/14)

Comment: a trend that we will see all the until 3Q14, it does put property companies back on our watchlist again if valuations become ridiculously attractive


SCG Paper unwraps greater capacity- SCG Paper, wholly owned by Siam Cement Group, has expanded the production capacity of its packaging business in the hope that new high-value-added (HVA) products will cushion the impact of declining sales in conventional paper. The company has added 400,000 tones of capacity, bringing the total to 2.3 million tons a year. Combined with an overseas capacity of 1.03 million tons from acquisitions in Vietnam, the Philippines, Indonesia and Singapore, the firm bills itself as the biggest packaging and paper company in ASEAN.(Bangkok Post, 3/3/14)


TRUE reported 2013 net loss of Bt9.1bn, 22% worse than the net loss of Bt7.4bn in 2012 after it booked a Bt2bn impairment of 2G assets and booked sale of assets to TRUEIF of Bt6.3bn.(Khao Hoon, 3/3/14)

Comment: So, I have yet to hear a fact based argument that this company shouldn’t be bankrupt yet

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