CKP revises revenue growth this year to 30% from 20%. The revision came as the company expects to book full-year revenue from its BIG1 plant. CKP will invest more than Bt22bn over the next three years in BIC2 and Nam Bak. It is also undertaking a study on solar farms in eight different places. (Khao Hoon, 14/03/14)
Loxley secures tidy net profit gain of 12% – Loxley Plc, a trading and systems installation service provider, posted a net profit increase of 12% to Bt590mn last year on healthy growth of three core business lines, particularly services. Loxley expects earnings to continue to rise this year because of its backlog of Bt11.3bn, allowing it to book revenue of 77% of the total backlog value this year. Most of the backlog is led by ICT turnkey projects supporting clients in electronic sub-transmission stations and the booming broadcasting industry. (Bangkok Post, 14/03/14)
Comment: Not sure on their customer breakdown, i.e. if a government institution is a major client of LOXLEY, would there be any budget for new ICT projects?
Nok touts new structure – Nok Air and its top management executives have adopted a shareholding structure to hold the majority stake in the joint venture with Singapore’s Scoot to establish a long-haul low-fare carrier based in Thailand. The endorsed structure sees the creation of a Nok Air subsidiary, tentatively known as Nok SPV, and a private firm owned equally by four senior Nok Air executives, to take up the 49% and 2% stakes, respectively in NokScoot, the new joint venture airline. (Bangkok Post, 14/03/14)
Comment: Well buying two 777’s to launch in 2H14 is going to hurt NOK’s bottom line no matter how you look at it.
SRICHA obtained twoprojects worth Bt1bn, bringing backlog to Bt4bn, contributing revenue of Bt2bn in 2014.(Khao Hoon, 14/03/14)
Comment: Well done to SRICHA, this little construction company continues to grow.
New vessels, higher rates in TTA plan – Thoresen Thai Agencies Plc (TTA), the SET-listed holding company with shipping and energy interests, aims to expand its dry bulk fleet to as many as 30 vessels this year, citing the expected recovery of the global shipping industry. Demand for dry-bulk shipping has begun to exceed supply, resulting in freight rates edging upward, said president and chief executive Chalermchai Mahagitsiri. (Bangkok Post, 14/03/14)
Comment: Compared to PSL, this company is rubbish, but punters are loving it at the moment.
TUF predicts sales bounce as foreign markets recover – SET-listed Thai Union Frozen Products Plc (TUF), the world’s biggest tuna company, projects sales to rise 9% this year to US$4bn on an economic rebound in international markets. (Bangkok Post, 14/03/14)