Stocks in the news (bcp, bts, ck, cpf, csl, loxley, ptt, qh, samart, thai, thcom, thbev, wha) 27.02.14

BCP

BCP aims at EBITDA of Bt25bn in 2020, brought by a focus on projects with 15% IRR. It expects 2014 EBITDA of over Bt10bn, supported by solar farms. (Khao Hoon, 27/2/14)

Bangchak to issue up to Bt8bn in bonds — BCP will issue Bt50-8bn worth of debentures in the second quarter of the year to finance its investment. President Vichien said the company is seeking new investments together with local and international partners in solar farms, ethanol and upstream businesses in mineral and oil. (Bangkok Post, 27/02/14)

Comment: Perhaps one of the few bright spots in the Energy sector

BTS

BTS goes to Beijing on invite from Chinese government. It is one of two candidates to operate a rail system for 30 years. VGI is also preparing to expand to overseas. BTS dividend is estimated at Bt0.15 per share. (Khao Hoon, 27/2/14)

Comment: They’ve already paid out a dividend earlier in the year, this is the second one.

CK

CK will pay stock dividend at a ratio of 40:1 (existing stock : new stock) XD 7 May 2014. 2013 net profit was more than Bt7.6bn due to gain from subsidiary such as TTW,CKP, and BMCL. It has cash of ~Bt8.4bn. (Khao Hoon, 27/2/14)

Comment: Stock dividends, no matter what management says, is crap for a stock in the short term, plus CK’s value is in its subsidiaries, the construction business is just a headache for its margins.

CPF

CPF eyes export-led recovery — CPF looks set to achieve sales growth of 10% this year with Bt450bn in revenue. The surge will be driven by higher domestic meat prices, more poultry exports to Japan and foreign expansion. Sales from exports and CPF’s businesses abroad account for 66% overall, while domestic sales make up the balance. (Bangkok Post, 27/02/14)

CSL

CSL to invest Bt350mn in new data center — CSL is building a new Bt350mn data center in a bold move to capitalize on growing demand. The facility is set to begin operations in April. (Bangkok Post, 27/02/14)

Comment: Does increased data usage by smartphone and tablet users = more profits for CSL? Its a question we still can’t quite answer

LOXLEY

Loxley inks deals worth over Bt1bn — LOXLEY will install digital TV network equipment valued at more than Bt1bn for Channel 5. The company recently signed two digital TV network and studio contracts with Channel 5 valued at Bt1bn. (Bangkok Post, 27/02/14)

Comment: Another beneficiary from the digital tv projects

PTT

PTT ploughs US$3.3bn into Myanmar — PTTEP is set to spend US$3.3bn in Myanmar over the next five years. President and CEO Tevin Vongvanich said 20% of the US$16bn capital expenditure between now and 2081 will be allocated to Myanmar to support operations and long-term growth. Currently PTTEP is investing in seven oil and gas exploration and production projects in Myanmar and is also an operator of some. (Bangkok Post, 27/02/14)

QH

QH reported 2013 net profit of Bt3.3bn, +35% YoY, supported by growing revenue of Bt20bn. It will pay a dividend of Bt0.16 per share and issue corporate bond worth Bt10bn with 10-year maturity. (Khao Hoon, 27/2/14)

SAMART

SAMART reported 2013 net profit of Bt1.47bn, a 5-year high, with revenue of Bt22bn. It will pay dividend of Bt0.45 per share in May. It expects 2014 revenue of Bt30bn. (Khao Hoon, 27/2/14)

Comment: One of the main beneficiaries in the digital tv scheme

THAI

Thai Airways reports third straight net loss – Thai Airways booked a third successive quarter of losses after a falling baht hit revenue and pushed up its foreign debt and the political unrest in Thailand deterred visitors from abroad. For the full year, the airline booked a net loss of Bt12bn, which compared with a profit of Bt6.2bn in 2012. (Airwise, 27/2/14)

THCOM

THCOM to offer high speed internet via iPSTAR with world standard of SkyEdge II-c VSAT. It aims to cover the Asia-Pacific area. (Khao Hoon, 27/2/14)

ThaiBev

ThaiBev announces rejig — Thai Beverage has regrouped its diversified business into three units to increase competitiveness and efficiency. The new units are beer, liquor and food and beverages rather than two units for alcoholic and non-alcoholic beverages. Included in the food and beverages unit is Sermsuk, Oishi, F&N and Chang drinking water. (Bangkok Post, 27/02/14)

WHA

WHA targets 2014 revenue growth of 50% YoY. 2014 net profit is expected to be stable from 2013 at Bt1.46bn. It expects to conclude a JV in 2Q14. (Khao Hoon, 27/2/14)

Comment: Means more sales to its property fund/reit

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