Stocks in the news (ajp, apcs, big, btc, bts, cho, cpl, demco, forth, fvc, grammy, kpn, lit, match, mtls, nwr, pae, pap, ps, rwi, sawad, seafco, spi, true, upa) 26.06.15

AJP
AJP plans to launch new TV program on free TV after getting a three-year license for an international sports program. It expects to complete the deal for a waste power plant project at the end of June. It believes it will show a net profit this year, backed by this project. (Thun Hoon, 26/06/15)
Comment: AJP has a TV program channel + a waste power plant, again the synergies here are amazing, can you imaging the future potential of the shows, documentaries on waste power plants!!! You just have to believe. All kidding aside, while this doesn’t have any synergies at all, waste to power can be incredibly lucrative.

APCS
APCS expects no impact from becoming a major shareholder of Advance web studio. It targets 10% revenue growth this year. (Thun Hoon, 26/06/15)

BIG
BIG expects 2Q15 earnings to surge, benefitting from increase in mirror-less camera sales. It plans to introduce a new product to add to its revenue. (Khao Hoon, 26/06/15)

BTC
BTC shareholders approved a capital increase via PP. It plans to invest in three businesses: alternative energy, logistics and infrastructure construction via JV and takeover. (Thun Hoon, 26/06/15)
Comment: So a terminal business switches to power + infrastructure, ok…see AJP comments above

BTS
BTS expects to get a SRT job, developing an 11km area. It plans to invest Bt10bn into a MOT project. (Khao Hoon, 26/06/15)

CHO
CHO says 2015 revenue will grow 15% backed by Bt900mn backlog. It expects to sign the contract for the NGV buses soon. (Khao Hoon, 26/06/15)

CPL
CPL is confident 1H15 revenue will achieve its target although foreign exchange rate fluctuated. It says its D/E ratio is low and it has enough investment capital to expand its capacity. (Khao Hoon, 26/06/15)

DEMCO
DEMCO expects 2Q15 earnings to grow aided by booking Bt6.1bn backlog. It expects to get a Bt780mn EGAT job in July. It is ready to bid for Bt10bn in jobs in the second half of the year. It is confident 2015 revenue will meet its target of Bt6bn. (Thun Hoon, 26/06/15)
Comment: It’s the news below re KPN going into WEH that makes the biggest difference on DEMCO’s short term price performance.

FORTH
FORTH expects to sign the contract for a Bt500mn government project soon which will lift its backlog to Bt1bn. Management plans to bid for a Bt2bn job to increase revenue. It is confident 2015 revenue will achieve its goal of 20% growth from last year’s Bt4.3bn. (Thun Hoon, 26/06/15)

FVC
Management is negotiating an M&A for medical business. Investors are interested in buying FVC shares at Bt3/share but the company does not plan to sell shares. 2H15 performance is expected to surge. It is confident 2015 revenue will achieve 18-20% growth as targeted. (Thun Hoon, 26/06/15)

GRAMMY
GRAMMY to sell 80mn Index shares to WAVE at Bt5/share, which is higher than its book value of Bt3.4. GRAMMY will use the cash from this deal as working capital. (Thun Hoon, 26/06/15)
Comment: And to fund its digital TV channel, management has said they need rates to be thb 300k/min to breakeven, currently they are on thb 15-20k, its a long way to go. Don’t be surprised to see them sell more assets or raise more capital through other avenues

KPN
KPN has become a major shareholder of WEH, taking 59.5% by buying REC shares. WEH is expected to be listed on the SET soon. WEH is applying for loans for a wind power plant from KBANK and SCB. (Thun Hoon, 26/06/15)
Comment: And the saga that is WEH is over, with KPN going in don’t be surprised to see SCB funding the transaction and helping them list. And now DEMCO shares will see some positivity for the first time in months.

LIT
LIT will join “mai Forum 2015” which will be held on July 1 and plans to offer special promotions at this event. Management targets to raising personal loans to 30% of total loans. It expects 2015 loans of Bt1.1bn. (Thun Hoon, 26/06/15)
Comment: Ignoring LIT Completely, this MAI forum should be interesting.

MATCH
MATCH plans to focus on TV program business, expecting to launch 3-4 TV programs for Channel 7. It expects ads to rise in tandem with more TV programs. It plans to expand business to TV program production. (Thun Hoon, 26/06/15)

MTLS
MTLS expects 2Q15 earnings to grow, backed by 50% loan growth. It targets Bt16bn loans with net profit growth of 30%, maintaining spread at 18-19% this year. (Thun Hoon, 26/06/15)

NWR
NWR revised up target backlog from Bt5bn to Bt8bn. It is waiting for Bt20bn in bidding to open. It expects robust earnings in 2Q15. It plans to issue a Bt2.5bn debenture. (Thun Hoon, 26/06/15)

PAE
PAE has issued Bt11.2mn shares in a capital increase, offering rights at 2 old shares for 1 new share, priced at Bt0.2, with a free warrant in the ratio of ratio 3.5:1. The objective of this capital increase is to expand its business. (Thun Hoon, 26/06/15)

PAP
PAP expects 2Q15 profit to be better than 1Q15, backed by sale of 80,000 tons. It is confident 2015 revenue will achieve target of 320,000 tons aided by increasing local steel demand. It expects a net profit this year. (Khao Hoon, 26/06/15)

PS
Management says 2Q15 profit is better than 1Q15 supported by increasing transfers. It expects 2015 revenue of Bt47bn with Bt38bn backlog, Bt22bn of which it expects to book in the second half of the year. The backlog for the first five months of the year is Bt19.5bn. (Khao Hoon, 26/06/15)
Comment: PS is one of the few property companies that has had a good 1H15 for pre-sales

RWI
RWI plans to allocate 300mn warrants at a ratio of 2:1, with three years to exercise; XW is today. (Thun Hoon, 26/06/15)

SAWAD
SAWAD targets Bt500mn in nano-finance loans. It is confident 2Q15 earnings will achieve 30% growth as targeted. (Khao Hoon, 26/06/15)
Comment: Absolute bullshit, the family themselves said they have only done less than THB 1 mn in loans

SEAFCO
SEAFCO got four foundation pile projects worth a total of Bt109.6mn. (Thun Hoon, 26/06/15)

SPI
SPI is joining with a Japanese company to set up a subsidiary, Saha Tokyo Corporation. It plans to launch a Bt900mn rental apartment named “Harmonique Residence Sriracha” which is the first project targeting Japanese clients. (Khao Hoon, 26/06/15)

TRUE
TRUE expects a net profit in 2Q15 from 2Q14 net losses of Bt1.7bn, benefitting from lower costs. It expects net profit of Bt2.83bn in 2Q15 and Bt4.99bn this year with Bt0.12 dividend. (Khao Hoon, 26/06/15)

UPA
UPA expects to show a net profit in 4Q15, aided by revenue contribution from a power plant in Myanmar, buying Andaman power shares and booking revenue from a condominium in Sriracha. It expects to get a 200MW PPA soon. (Khao Hoon, 26/06/15)

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