Foreign banks help BJC fund US$6.2bn Big C buy – Berli Jucker Plc (BJC) has tapped foreign banks including BNP Paribas as well as domestic lenders to raise US$6.2 billion for its acquisition of Big C Supercenter Plc, putting it on track to successfully meet a March 31 financing deadline. (Bangkok Post, 4/3/16)
Comment: One hopes for BJC that the support is certain otherwise they’ll be out of pocket to the tune of USD 600 mn
GUNKUL approved a par split from Bt1 to Bt0.25 to increase liquidity. It ready to issue a debenture of not over Bt3bn, age not over 7 years to support further expansion. It will offer the debenture to shareholders on April 26. (Thun Hoon, 07/03/16)
Comment: Well if you want to do a stock split now before the SEC implements the 0.50 minimum ruling.
IRCP set up a JV, “Singhacom intergroup”, with Singhacom enterprise to act as a service provider and improve 4G network. It expects to book revenue in 2016 of Bt100mn. (Kao Hoon, 07/03/16
JWD expects to finish M&A deal in ASEAN worth more than Bt3.5bn. It is interested in logistics business. It targets revenue growth of no less than 10%. (Kao Hoon, 07/03/16)
ANAN targets 2016 revenue to reach Bt11bn backed by Bt37.2bn backlog. It plans to launch 12 projects, valued at Bt22bn. (Thun Hoon, 26/02/16)
Comment: Seems to be rather conservative estimates coming out from the management team given their backlog, lets see how things unfold during the year
BANPU expects net profit to return to the black this year aided by US$70mn extra gain on Hongsa power plant and its coal capacity of 46.1mt/year. It plans to acquire a coal mine in Indonesia. It plans to issue a Bt10bn debenture. (Khao Hoon, 26/02/16)
Comment: Well and there’s a supposed listing of BANPU power..
BCP is budgeting Bt20bn for add 60 gas stations. It plans to list a subsidiary in 4Q16. (Thun Hoon, 26/02/16)
BJCHI reported its highest net profit at Bt1.32bn in 2015 supported by continuous construction of FPSO’s P75&77 projects. It targets 2016 revenue to grow not less than 15% thanks to Bt3.7bn backlog. It expects to be awarded new projects in April. (Thun Hoon, 26/02/16)
Comment: Impressive results given the huge drop in oil prices
AOT expects revenue growth in 2015 to exceed 15% after stronger-than-expected traffic. The cancellation of charter flights to and from Japan and South Korea has not adversely affected it. The firm plans to go ahead with Phase II of Suvarnabhumi airport. (Khao Hoon, 09/04/15)
Comment: Regardless of these cancellations, in the end AOT will still achieve higher traffic as a result of the continued increase in Lowcost airlines and the expansion of both Don Muang and Suvarnabhumi
APURE studying investment in renewable energy projects. It expects 10% revenue growth in 2015 driven by strong orders from Japanese customers. The firm expects to wipe out retained loss this year and be ready to pay a dividend for the first time in many years. (Khao Hoon, 09/04/15)
Comment: Never really trusted the shareholders and management of this company, they’ve been manipulating their own stock since 2005
CGH spends Bt571mn to acquire 15% in PDI. This share acquisition will further its goal to greater diversification. (Khao Hoon, 09/04/15)
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.
Management expects revenue of Bt9bn in 2015 from Bt5bn in 2014 and will invest Bt200mn to increase palm oil production capacity and set up solar power plant with 2.6MW capacity supporting sharp revenue and earnings growth. (Thun Hoon, 20/11/14)
Comment: Another firm that will have a small solar power plant – 2.6 MW means nothing in terms of this company’s bottom line.
Japan, China to finance AoT project — The Japan International Cooperation Agency and a Chinese bank have offered loans for the Phase 2 expansion of Suvarnabhumi airport, Transport Minister Prajin Juntong said yesterday. Funding for the Bt66bn project is expected to come from the Airports of Thailand (AoT) budget and domestic and foreign financial institutions, he said. (Bangkok Post, 20/11/14)
BCP expects oil stock loss in 4Q14 due to declining oil price. The company maintains EBITDA target at Bt10bn and plans to use subsidiary NIDO to find 1-2 new oil wells. It plans to invest in a solar power plant with 100MW capacity. (Kao Hoon, 20/11/14)
Comment: Every oil-related firm had a horrible 3Q14 and 4Q14 b/c of the decline in oil prices – but BCP will still go on to have a great 2015 (should there be no huge fluctuations in oil prices)
Buy(s) THB 2 bn
- AJP – The Chairman buys a whopping # of shares worth THB 665 mn
- DCC – I’ve had to double check this, but its true, DCC’s management/owners bought THB 1.16 bn worth of shares, most likely a swap with an institution
- SRICHA – THB 241 mn shares bought by the director, but see below
Sell(s) THB 847mn
- IRCP – A big sale by the CEO, worth THB 56 mn
- SRICHA – THB 722 mn sold off a director, related to the above perhaps?
AAV’s bookings down 15% due to the coup. The CEO says the airline has seen a significant decline in Chinese clients, but domestic traffic continues to support operations. Khon Kaen, Nakorn Panom, and Naratiwat flights have a load factor of 90%. It will control costs and postpone client base expansion to handle the drop in bookings. It is preparing to cut capacity by more than 15% and will definitely survive. (Khao Hoon, 20/06/14)
Comment: If you think about it, a 15% decrease in bookings despite all the negative news about Thailand, and yet domestic flights are still operating at a 90% load factor, thats not too bad at all!
AIS names new chief executive – Mobile leader Advanced Info Service (AIS) finally named chief marketing officer Somchai Lertsutiwong as its new chief executive after a process lasting several months. His appointment had been expected by many in the company. He has worked at Shin Group including AIS for 23 years. (Bangkok Post, 20/06/14)
BAY adds Japanese flavour to services – Now that Bank of Tokyo-Mitsubishi UFJ (BTMU) has finished acquiring 72% of Bank of Ayudhya (BAY), the local bank is moving towards attracting Japanese investors by setting up desks with fluent Japanese speakers at select branches. Moreover, the Thai bank plans to open more branches in industrial estates where Japanese work and add the Japanese language to its 5,000 ATMs nationwide this year. (Bangkok Post, 20/06/14)
Comment: Since the BTMU has become the majority shareholder in BAY, its stock price has re-rated to valuations levels similar to SCB and KBANK, is this warranted? Perhaps.
IRCP expects both revenue and net profit growth of 30% YoY. It continues to bid for jobs related to digital TV network. It recently received work from CAT and Thai PBS worth Bt100mn, bringing backlog to Bt600mn. It is negotiating with a partner to get into the set-top box business. (Tun Hoon, 04/02/14)
IVL targets 2014 sales growth of 13%. It will buy PHP to help penetrate the automotive market. It has budgeted US$500mn for business expansion. (Khao Hoon, 04/02/14)
Comment: This company will continue to aggressively grow.
KBS confident 1Q14 sugar production and sales will increase. The company will start testing its biomass power plant early in March. It expects the biomass project will help increase revenues by Bt200-300mn this year. It also expects sugarcane sales to grow 5% and sugar by 10% YoY. (Khao Hoon, 04/02/14)
Comment: Sugar is a seasonal business and in Thailand there is a scheme that does limit the spreads sugar makers can generate Continue reading Stocks in the news (ircp, ivl, kbs, loxley, spali, thcom, wha) 04.02.14