ACC’s shareholders have approved 300mn share capital increase, at par Bt0.25 with warrant at a ratio of 4:1 and an exercise price of Bt1.25. It will use the funds for business expansion. It expects 2016 revenue to turn around on the back of alternative energy and property business. Its power plant business has already contributed revenue in Jan 2016. (Thun Hoon, 14/03/16)
Comment: Another odd (but new!) company that will somehow magically combine alternative energy and property development…
AEONTS plans to expand to 300,000 credit cards this year, focusing on young adults with a monthly income of over Bt30,000 of income. It expects to tighten extending credit to factories given the slowdown in export growth. (Khao Hoon, 14/03/16)
BANPU’s board approved a capital increase of 2.582mn shares, at a ratio 2 old: 1 new at Bt5 with 1 warrant. It will use the funds to restructure its financing and lower debt from Bt12.9bn currently, in the process cutting D/E to 1.23X. (Thun Hoon, 14/03/16)
FSMART expects 2016 revenue growth of 30%. It targets 90,000 Boon-Term Top-Up machines by the end of this year from 71,000 at the end of February. It plans to offer a new service, money transfers via Top-Up machines, in April and an e-wallet in mid-2016. (Khao Hoon, 14/03/16)
Comment: If the top line growth is this high, expect for bottom line to grow at 1.5x multiple…
Buy(s) THB 441 mn
- TK – Just looks like a switch amongst family members, preparing for the inheritance tax perhaps? A lot of these trades have been happening.
- BDMS – And he’s still buying!
Sell(s) THB 746 mn
- EA – Why would he sell now?
- TK – See above
- PSTC – Quite something to see such a large sale, although should we really be surprised given that its trading at 100x PE?
- MAX – So the crook has sold his shares…not a bad 5x return, although it never did quite reach their rumoured THB 1 / share target price
Buy(s) THB 6.3 bn
-KCE, BA, TTCL, RS, SAM, SPALI, MAJOR, WHA, SCC, IFEC, BBL, DCORP, BLAND, JMART, TU, SOLAR, TVO, NSI, CBG, SUPER, NMG
Sell(s) THB 15.0 bn
-BEC, KCE, SAWD, COL, UNIQ, MAX, AP, SAM, JSP, MAJOR, SRICHA, ITD, BA, TMC, AAV
Note: Transactions shown are trades above THB 20 mn
Bangchak eyes non-oil sales, renewables – Bangchak Petroleum Plc (BCP), a majority state-owned oil refiner and retailer, has earmarked Bt10bn to develop its refineries and expand into non-oil business next year. President Vichien Usanachote said apart from refinery upgrades, Bangchak had looked at non-oil business as a means to rely less on oil revenue, as the retail margin was “really slim”. The company will likely invest Bt5bn a year, he said. (Bangkok Post, 16/12/14)
Comment: The news around BCP’s share price still continues to 1) PTT selling its stake, and 2) The drop in oil prices.
Capital increase for PP approved — On 12 December 2014, the board approved a capital increase of 16bn shares at a price of Bt0.105/share, close to par value of Bt0.1/share, via private placement to 12 investors. The company will ask shareholders to approve the plan on 9 January 2015. (Kao Hoon, 16/12/14)
Comment: The shares aren’t even trading at the moment, a relisting in the future perhaps.
BTS ready to book Bt338mn from the OTP’s plan to sign the implementation of joint ticket system this month. Last survey, the Blue Line extension is expected to start its operations 2018. (Kao Hoon, 16/12/14)
Comment: Why the authorities haven’t gotten together to figure out a one card system is beyond me.