EARTH expects higher region coal price to lift 1Q15 profit above Bt3.8bn. Management remains confident that its sales volume will reach 10mt in 2015 due to higher demand. It plans to acquire more mines with reserves of 40mt, conclusion by 4Q15. (Thun Hoon, 12/03/15)
Comment: The owners have been pledging their shares for a ton of equity financing hence the odd management trades we have seen over the past 2 years.
EGCO unveils 5-year plan. This will focus on power plants under development. The company confirms its plan to expand in ASEAN and Asia Pacific region with required equity IRR of more than 10%. (Krungthep Thurakij, 12/03/15)
FANCY reports three major shareholders sold 28.46% of total shares via big-lot transaction to two new investors at Bt3.5/share. Management says this will not affect the controlling power of the existing major shareholders and the company’s business plan for particle board production and rubber wood in Surat Thani. (Thun Hoon, 12/03/15)
Comment: It’s been a dying industry for a long time and I don’t see things changing.
HEMRAJ says land demand has been recovering since early 2015. Demand is being seen from both existing and new clients. It expects to sell 1,400 this year and is developing new land for potential clients. It plans to restructure after the end of the tender offer by WHA in March. (Thun Hoon, 12/03/15)
Comment: The question is how many assets will be sold by HEMRAJ in order to help WHA fund the acquisition? The Koh Lan is apparently being sold + a REIT will be set up for its factories + their office building could still be sold.