AGE will issue Bt1bn worth of debentures sometime in 1Q15. It plans to use the proceeds to invest in 10 biomass power plant projects with a total capacity of 100MW. It also set a revenue target of Bt9bn for 2015, up from the expected Bt7bn in 2014. (Kao Hoon, 06/01/15)
Comment: This a positive development for AGE, for the longest time I haven’t cared much for the company because it is effectively a trader of coal and only makes a margin per transaction and without capacity increase there has never been a chance for growth. With the expansion into more power plant projects the company’s earnings in 3-5 years from now will be far more stable. It looks like punters have taken this news to heart today with the stock already up 7% as of writing.
BAY completes integration with BTMU – Bank of Ayudhya (BAY), a member of Mitsubishi UFJ Financial Group (MUFG), has completed its integration with the Bank of Tokyo-Mitsubishi UFJ (BTMU) Bangkok branch after one year of preparations. After the integration, MUFG’s ownership of BAY through BTMU increased from 72% to 76.88% as a result of the issuance of 1,281,618,026 common shares by BAY, commonly known as Krungsri, to BTMU. (Bangkok Post, 06/01/15)
BGH’s share surged on reports Malaysia-based IHH will be acquiring 11.5% in the company. The financial industry estimate total acquisition to be more than Bt20bn. BGH’s management reaffirmed that major shareholders, the Prasarttong-Osoth family, have no plans to sell their shares. (Kao Hoon, 06/01/15) IHH says not true — IHH Healthcare Berhad, after having made due enquiries with all its directors and relevant major shareholders, wishes to announce that IHH has no intention of buying an 11.5% associate stake in Bangkok Dusit Medical Services Pcl at this juncture. If this changes, IHH will make the appropriate announcement to Malaysia’s stock market. (Bursa Malaysia, 05/01/15)
Comment: I’ll buy BGH again when there is another crisis, at these levels the growth, revenue/bed whatever metric you look at, it’s still too expensive.
Continue reading Stocks in the news (age, bay, bgh, bts, bjc, bliss, bsm, css, cresh, cwt, earth, ecf, itd, sawad, tpch) 06.01.15