Stocks in the news (cpn, delta, dcon, kbank, ps, rml, ticon) 04.04.14

CPN will invest more than Bt50mn in digital platform and release a new CentralWorld App targeted at the new generation. CPN hopes the new app will help push sales up in 2Q and 3Q. (Khao Hoon, 04/04/14)
DELTA to focus on the ASEAN market. It says performance in 1Q14 was very good, with revenue growing from Bt9.5bn in 1Q13, supported by baht depreciation. It expects total revenue growth of 10% YoY in 2014. It is investing in capacity expansion. Its is purchasing a European firm, with the deal expected to finish in late 2014. (Thun Hoon, 04/04/14)
Comment: DELTA and SVI are both saying they want to buy companies abroad, lets see which one actually does it.
DCON confident in higher revenue and profit in 1Q14 YoY, supported by new orders for production and distribution of construction materials. It will also book Bt625mn revenue from transfers at its real estate business. 2014 revenue is expected to grow 20%. (Khao Hoon, 04/04/14)
Comment: The company has good upside from the booking of condo’s over the next 1-2 years, but unless management runs out and buys more land then its EPS will look like a xmas tree
KBANK reported unchanged loans in 1Q14 but expects recovery in 3Q14-4Q14, supported by the agriculture sector. Its NPLs are expected to rise but not to a level of concern. (Khao Hoon, 04/04/14)
Pruksa ups project launches – The SET-listed Pruksa Real Estate Plc (PS) has revised up its number of new project launches this year to at least 60 from 50 after seeing better market sentiment last month, as evidenced by higher first-quarter presales and revenue. (Bangkok Post, 04/04/14)
Comment: A few property firms appear to be confident again after 1Q14
RML says 1Q14 revenues to surpass last year’s Bt1.4bn, supported by the transfer of 185 units in the Rajadamri project worth more than Bt1bn. The company also said that it has Bt13-14bn of backlog on hand that will help support revenues over the next 2-3 years. (Khao Hoon, 04/04/14)
Comment: The stock has rebounded some 70% from its low’s back to what we think is near its fair value 
TICON expects good performance in 1Q14 on continued growth in its warehouse business. It is ready to book Bt540mn revenue from selling assets to TGROWTH and TFUND. It expects 2014 revenue of Bt7bn, +30% YoY. (Thun Hoon, 04/04/14)
Comment: Despite the noise coming from WHA, this is still the better company  
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