CPALL and BEC have been in the news again, this time with Thaipat Institute who “has removed CP All Plc and BEC World Plc from its top 100 listed companies ranked by environmental, social and governance measures, citing the pair’s tainted corporate reputation. ” Normally I would have posted this immediately, but I’ve never heard of thaipat until this news And I doubt many other people had either. But he did have a rather priceless quote “Companies that have good practices but bad performance, and good performance but bad practices are worthless,” Mr Pipat said. If only the world was really that black and white.
ABC expects net profit to be back in the black this year. It expects to launch ABC Residence and ABC Pet World projects, valued at Bt7.5bn, in 3Q16. It plans to wipe out all retained losses this year. (Khao Hoon, 16/03/16)
Comment: I’m beginning to be very bored of the newsflow from this company….
ADVANC ‘Respite’ for AIS’s 400,000 2G users facing cut-off – The Central Administrative Court decided to allow AIS extend the signals for 2G SIM cards on the 900 MHz network until March 21. The signals were due to be switched off at midnight yesterday The court’s decision follows a request by ADVANC for an order to force the NBTC to extend the period for 2G customer retention and ensure service continuity as stipulated in rules set out by the National Broadcasting and Telecommunications Commission (NBTC). (Bangkok Post, 16/03/16)
Comment: Now the question is what will happen to that license if JAS doesn’t pay up?
ASK expects 2016 loan growth of 15% backed by higher truck demand for government projects and stimulus measures. It expects to benefit from AEC. It plans to expand its customer base. (Thun Hoon, 16/03/16)
Comment: While still paying a decent dividend.
BEC has high hopes of sports programmes shoring up TV ratings and advertising revenue on top of top-rated dramas this year after the news-show category experienced a slowdown due to intense competition and the impact from the departure of famous TV host Sorrayuth Suthassanachinda. (The Nation, 16/03/16)
Comment: People slightly misunderstand what is happening with BEC, everyone says that they are losing a fortune but in reality they are still the leading player in the media business, but because of increased supply in the industry their ASP’s have dropped.
BIG expects 1Q16 earnings to be good with net profit of Bt160mn (120% growth) thanks to camera sales. It expects its market share to increase to 63% this year. (Khao Hoon, 16/03/16)
Comment: Much to our surprise, the stock has been on a tear for the past few months
CNT expects 2016 net profit to grow backed by higher revenue from condominium projects. (Khao Hoon, 16/03/16)
Buy(s) THB 175 mn
- BEC – Ohhhh and now they’re back into buying shares – or is just a switch between family members?
- BANPU – It’s not often that we see anyone buying shares here. A bottom forming perhaps for BANPU? It has been a dog of the SET for years….
Sell(s) THB 263 mn
- ITD – Selling more shares again, a recap coming up soon?
- SPPT – Huge sale by the MD but they have announced that it is to another family member
Buy(s) THB 169 mn
- MALEE – Looks like a swap between the Central family members
- RS – And the owner keeps buying and buying
Sell(s) THB 959 mn
- BEC – Another large block sale by the maleenont family
- MALEE – See above
- MINT – Quite rare to see this director sell his shares in MINT, he’s been there for the past….15 or so years
- ACAP – It’s been news in the market that the major shareholders of ACAP have sold out.
- KC – This property company is somehow trading @ THB 2.5 bn mkt cap even though it’s profits have never been higher than THB 40 mn in the past 5 years
- TIPCO – These shares have run up because of its holding in TASCO, no surprise seeing a large sale here.
Buy(s) THB 588 mn
- RS – And he keeps buying and buying and buying
- MTI – The 4th largest shareholder and family member has decided to buy more shares doubling his stake to 4.9% in the company.
- AJ – Looks like a share swap between the shareholders
- COL – The founder/CEO has decided must’ve thought that the price was too cheap @ 36 baht, he effectively marked the low for the company’s stock this year.
- SC – Except for a period during 1Q13, this stock price hasn’t really performed compared to its peers, thus interesting to see management/directors buying some THB 25 mn worth of shares
Sell(s) THB 1.2 bn
- BEC – Ohhh a HUGE sale by the owners, THB 1 bn here
- CSS – Now why would the chairman/ceo sell a stake at these levels? News and rumours had led investors to believe that CSS will be one of the few companies to benefit from the 4G towers
- AJ – see above
The Digital TV Industry has been having its own version of battle royale with the competition for ratings sending bidding prices for new shows through the roof and if you look at every company related to digital tv, all of their earnings were poor in 2014 and 1Q15, as a result of this they have essentially gotten together to sue the NBTC into doing something to save the industry from disaster and it looks like they’ve won the first step.
The National Broadcasting and Telecommunications Commission (NBTC) board has agreed to postpone digital TV operators’ second licence fee payment for another year.
Secretary–general Takorn Tantasith said the telecommunications regulator yesterday decided to postpone the second licence fee payment, totalling 8.7 billion baht and due on May 24, for a year to help reduce the financial burden on digital TV operators.
Thus it’s good news for WORK, RS, GRAMMY, BEC, MCOT, MONO, NMG and several other players.
Source: Bangkok Post
APPS moving forward – AOT’s board has approved the hiring of 2S Consortium to operate the Advance Passenger Processing System (APPS), an online passenger-information exchange system, to improve customs and immigration services and shorten entry time at airports. The consortium consists of Somapa Information Technology and Samart Comtech. AOT will charge Bt35/passenger and expects to start this system on October 1, 2015, applied only to passengers passing through Suvarnabhumi. (Daily News, Bangkok Post, 26/03/15)
BEC plans to raise ad rate this year after no rate hike for the past three years. However, it depends on how intense the competition from digital TV is. (Kao Hoon, 26/03/15)
Comment: BEC is still the number 1 channel operator in thailand today in terms of ad rates, but digital tv is definitely going to be an issue for them with the increased competition
CENTEL expects Bt20bn revenues this year (from Bt18bn last year). 1Q15 earnings should be strong from high occupancy rate. The company is studying JVs in Myanmar and Sri Lanka. (Thun Hoon, 26/03/15)
Comment: Still is and forever will be a B grade, no wait C grade version of MINT
AoT to seek Dec nod for new terminal – Airports of Thailand (AoT) Plc will ask the cabinet as early as December to approve the construction of a second terminal at Suvarnabhumi airport to serve more passengers. AoT board chairman Prasong Phunthanet will meet Transport Minister ACM Prajin Juntong today to discuss the construction plan which will replace the costly second-phase development of the crowded airport. (Bangkok Post, 30/09/14)
Comment: In reality AOT has to reopen Terminal 2 in Don Muang as well as expanding Suvarnabhumi Airport.
AQ approves to buy Villa Nakarin shares worth Bt176.6mn and expects payback period of 2.5 years. It believes the investment will increase its competitive advantage and profitability. (Kao Hoon, 30/09/14)
BEC refuses to accept NBTC’s latest ruling – Bangkok Entertainment Co (BEC), the concession holder that operates Channel 3, has again refused to comply with the broadcasting regulator’s latest resolution requiring it to migrate its analogue TV programming to the digital platform via a simulcast. (Bangkok Post, 30/09/14)
Comment: Well BEC has been given an additional period to still continue broadcasting, looks like the NBTC won’t be able to force BEC to shift to using digital TV 100%
AP, Mitsubishi lay out plans – Mitsubishi Estate Group (MEC), one of Japan’s largest developers, plans to launch three to four residential projects next year in partnership with SET-listed developer AP (Thailand) Plc to capitalise on the recovering economy and improved political climate. “Thailand’s fundamentals such as long-term economic prospects and people’s income remain sound,” said Shojiro Kojima, managing director of affiliate Mitsubishi Estate Asia (MEA). “Our investment is truly for the long term.” (Bangkok Post, 24/09/14)
Comment: It’s a good plan for AP, lightens their balance sheet while still being able to continue expansion
Channel 3 talks fail, BEC may sue — The second round of talks to end the dispute between Channel 3 and the broadcasting regulator was another failure, and Bangkok Entertainment Co, holder of the analogue channel’s concession, is mulling legal action. (Bangkok Post, 24/09/14)
Comment: BEC is still facing a potential blackout
CITY sets revenue FY2015 growth target of 5-10% backed by an increase in its customer base. It plans to invest Bt50mn into maintenance and repair on its machinery. It has set up a subsidiary in Hong Kong and hopes to create a brand image for its electronic appliances. The board is also studying plans to expand into alternative energy. (Thun Hoon, 24/09/14)
Comment: CITY is a well-run little company that used to be a very straightforward 5-10% growth with a decent dividend.