China gives 85% load factor in 1Q15 – AAV reports that higher traffic from China remained the key driver to bring load factor to 85% in 1Q15. Management expects tourist sentiment towards traveling to Thailand to continue to improve over the remainder of the year despite the ongoing martial law. The Tourism Authority of Thailand says hotel bookings in Chiang Mai during Songkran is at over 90% despite the continued air pollution. (Krungthep Turakij, 20/03/15)
Comment: I’ve mentioned this enough times, AAV is the only airline you’d want to bother looking at on the Thai Equity market.
ASIMAR expects 2015 performance to break the record with two projects on hand worth Bt1bn. The company will also benefit from more budget from the Port Authority of Thailand of Bt4.67bn. The company believes it will be awarded new projects from PAT amounting to Bt500mn plus Bt450mn from a private company. (Thun Hoon, 20/03/15)
CGD expects 1H15 performance to improve YoY given its abundant backlog. Management says revenue for 2015 could exceed Bt834mn. (Thun Hoon, 20/03/15)
CNT working to set up a new JV with foreign partner. The company aims to become one of the contractors selected for public sector investment projects. It expects to see greater opportunities in the AEC market which could be finalized soon. CNT also expects to be awarded more jobs from PTT group. (Thun Hoon, 20/03/15)
Comment: A surprising loss last year from this construction co, I do expect for things to improve and am wondering why they can’t bid for the larger projects like UNIQ has.
Continue reading Stocks in the news (aav, asimar, cgd, cnt, cpf, dcon, demco, drt, glow, ichi, itd, jas, kbank, mbket, moong, ndr, pae, ptt, qtc, uac, rs, rwi, samart, mlink, sappe, tsi, uwc) 20.03.15
- BTS – A trade between father and son
- RS – Despite the company selling treasury shares the owner still continues to buy
- NBC – Involved in both NMG and NBC
- IFEC – A share swap between tnhe two major shareholders
- SYNTEC – This “smaller” construction co has been able to increase their project revenues over the past few years consistently. i do worry about their ability to take on larger projects in the future though.
- BTS – See above
- BEAUTY – Sale to an investment fund
- IFEC – See above
- NBC – See above
- WHA – I’ve been hearing rumours the the owner has taken a personal loan to buy the RO shares and is using the recent increase in share price to sell shares.
AAV expects strong recovery this year and targets 14.5mn passengers and double-digit revenue growth. The company said 1Q15 cabin factor will be strong at more than 84%, driven by the influx of Chinese tourists. (Kao Hoon, 24/02/15)
New CFO — AAV has informed SET that the Nomination and Remuneration Committee has approved the appointment of Mrs. Pattra Boosarawongse as Chief Financial Officer and Director of the company, replacing Mr. Pornanan Gerdprasert, effective February 23, 2015. (SET, 24/02/15)
AMATA says investors still interested in investment in Thailand especially Chinese and Japanese, despite the BoI’s changes in privileges. It believes a clear picture will be seen in the next 1-2 quarters. It has set a land sales target of at least 1,000 rai this year and currently has backlog of Bt2bn, of which 90% will be realized as revenue this year. It has budgeted capex at Bt4.5bn, with 85% of that for land acquisition. It expects to list its REIT on the SET by May. Amata VN will conduct a roadshow by July and trade on the SET by yearend. (Krungthep Turakij, 24/2/15)
Comment: The only thing to think about for AMATA this year is it’s IPO of Amata VN and a potential REIT.
CGD expects to turn around to a net profit this year backed by large backlog. It will sell Bt1.3bn in assets to a REIT in 1Q15. It also plans to invest in a riverside hotel worth Bt19bn with completion by 2018. (Thun Hoon, 24/2/15)
Comment: That is the only thing driving CGD at the moment, forget the rest.
Buy(s) THB ~200 mn
- NMG – The Vice Chairman sells off warrants and buys up more shares, this amount implies that he bought some 5% off existing shareholders
Sell(s) THB ~640 mn
- BEAUTY – This was a block sale to a US based mutual fund
- CGD – Once a punters darling, the stock price/warrant have fallen over 50% from its high
- NMG – See above
Waiting for cabinet approval — AOT is waiting for cabinet approval of the backup runway project with Multi-Function Terminal with an investment budget of Bt48bn. The PM has confirmed that the government wants AOT to set up an infrastructure fund to help finance its projects. The company’s board meeting will be held on January 21 and final conclusion is expected to be reached then. (Kao Hoon, 14/01/15)
Comment: This is going to keep AOT’s stock price high and every bank is going to falling over their feet to get their hands on the infrastructure fund.
Denies claim by NMG — AQUA released a statement yesterday saying that the claim by NMG has no basis. The company’s operating performance has been stable and is still growing in contrast to NMG’s operating performance, where earnings have plunged by 77%. AQUA said that NMG claims were intended to damage AQUA’s reputation for NMG’s own benefit. (Kao Hoon, 14/01/15)
Comment: This shareholder fight is becoming quite funny. NMG vs SLC vs AQUA. No wonder drama shows are so popular in Thailand
BKD expects revenue this year to grow by 20-30% supported by its backlog of Bt2bn. It expects the proportion of revenue from the private sector to increase to 50% from 30%. It revealed that it has won a project to develop a housing project in Cambodia worth more than Bt500mn. (Kao Hoon, 14/01/15)
To decide on Metro Vietnam purchase today — BJC will hold its shareholders’ meeting today to consider the acquisition of assets of Metro Vietnam under the new conditions. The IFA states that shareholders should disapprove the purchase as the new conditions pose too high of a risk. (Kao Hoon, 08/01/15)
Comment: Despite the IFA’s comments I would expect the deal to go ahead, don’t think its great for shareholders in BJC in the short term, but in 20 years from now we may all look back and say “Yup that was a good move”
Clarifies PP — BLISS has issued a statement to clarify the inquiry on the capital increase through the private placement to three groups. The company said that although the issuance price is higher than the fair value of Bt0.0793 this will have an insignificant impact on management and the proceeds raised will be used to accommodate business expansion, repayment of loan and as working capital in 1Q15. The company targets 2015 revenues at Bt2.6bn. (Kao Hoon, 08/01/15)
Comment: A guaranteed stock manipulation coming up here.
CGD partners with Four Seasons Hotel and Resort to develop a new project worth Bt32bn. The official launch will be held this month and construction is expected start at the end of 2018. It said that the project will be first private residence to be located on the riverside in Asia. (Kao Hoon, 08/01/15)
Comment: So the project will finally start – only took them 9 years
Given the way December ’14 performed I thought it would be more interesting to present all the transactions that occurred during the month.
Buy(s) THB 6bn
- AAV, RS, CENTEL, BA, LIVE, M-CHAI, NBC, BA, STA, CPF, MC, EARTH, BBL, BLA, EARTH, AKR, PACE, TH
Sell(s) THB 10 bn
- RS, AAV, CGD, AP, NYT, SCC, TUF, KIAT, ABC, NMG, JMART, GRAMMY, ITD, BSM, CEN