Tag Archives: rpc

Stocks in the news (age, ccn, fsmart, pimo, pstc, ptt, rpc, seafco, smt, spali, sta, super, thai, tsr, tvo) 19.09.16

AGE maintain its revenue target growth of 10% supported by more than 2mn tons coal sales. It expects to finish a deal with a partner to do a coal warehouse in Vietnam by the end of 2016. (Kao Hoon, 19/09/16)
CCN expects to get a government job from the Industry 4.0 project. It expects 2H16 earnings to grow, supported by booking backlog of Bt100mn. It is confident that 2016 revenue will reach its 20% target growth backed by Bt150mn from its telecommunication business. It is negotiating with a partner to do alternative power business . (Thun Hoon, 19/09 /16)
Comment: Well not sure how much of an impact the government news will have on this little IT System integrator. I’d turn my eyes to the bigger players SAMTEL and AIT and possible even MFEC
FSMART expects 3Q16 profit record new high of Bt100mn or growth 40% YoY supported by Boon Term Top Up machine. (Kao Hoon, 19/09/16)
Comment: No surprises here, they just keep growing
PIMO expects 2016 profit to jump 92% to Bt46mn supported by more orders. It expects 2017 profit of Bt72mn due to new orders from US customer in 1Q17. It plans to invest in BLDC motor technology. (Kao Hoon, 19/09/16)
Comment: Another small player, THB 1 bn mkt cap, not particularly cheap nor scalable.
PSTC expects 2016 revenue growth and profit to double after booking backlog of Bt300-400mn. It expects revenue from its power plant to grow in 4Q16. It has completed a deal to do a biomass power plant and 50MW cogeneration power plant in ASEAN. (Kao Hoon, 19/09/16)
Comment: There’s a lot of news about biomass and waste to energy expected to be announced within the next few weeks.
PTT expects to bring service stations to 200 this year. It expects revenue of Bt520bn. It has a plan to expand to 500 service stations abroad within five years and sell more Amazon franchises in Japan. (Thun Hoon, 19/09/16)

Continue reading Stocks in the news (age, ccn, fsmart, pimo, pstc, ptt, rpc, seafco, smt, spali, sta, super, thai, tsr, tvo) 19.09.16

Stocks in the news (aeonts, bcp, bem, egco, fsmart, ifec, itd, mcs, mtls, rpc, sport, spa, tasco, thcom, tks, twz) 21.06.16

AEONTS expects 2016 loan growth to be better than last year. It plans to expand its credit card customer base by launching a marketing campaign. It targets to acquire 360,000 new cards. (Thun Hoon, 21/06/16)
BCP says oil sales in the first five months reached 2bn liters. It expects to reach 6bn liters this year driven by high demand from lower prices. It plans to open more filling stations in 2H16 and increase revenue from its non-oil business. (Thun Hoon, 21/06/16)
SRT plans to talk with BEM to become commercial area manager for MRT Purple Line (Bang Yai-Tao Poon). It expects this to be finalized in July. (Khao Hoon, 21/06/16)
Comment: To us it looks like its been in the bag for a while
EGCO expects 930MW Kanom power plant to start up in June. This will boost long-term revenue. It expects 2016 revenue to grow 5% aided by power plants. It has budgeted Bt22bn to increase its capacity. (Thun Hoon, 21/06/16)
Institution investors are interested in FSMART shares. It expects 2H16 earnings to be good. It is talking to a partner to expand top-up machines to 90,000, raising its revenue to Bt21bn from this business. It targets a market share of 11%. It is talking to clients for ads and has signed a contract with one client. (Thun Hoon, 21/06/16)
Comment: If they are clever about this, they have the network, they can cross sell anything with little cost and all straight to the bottom line.

Continue reading Stocks in the news (aeonts, bcp, bem, egco, fsmart, ifec, itd, mcs, mtls, rpc, sport, spa, tasco, thcom, tks, twz) 21.06.16

Stocks in the news (aot, bcp, bem, bsbm, cho, dtac, fsmart, genco, gpsc, ifec, jas, lpn, mcs, rpc, scc, ticon) 07.04.16

AOT expects passenger growth of 16% to 3.98mn passengers between Apr 8–18. (Khao Hoon, 07/04/16)
BCP cuts E&P long-term investment budget of Bt3-4bn (2015-2020). It will use the funds to invest in green power plant instead. (Khao Hoon, 07/04/16)
BEM plans to start running the Purple Line and Srirat-Orr in August 2016. It plans to issue debenture of Bt48bn to restructure debt. (Thun Hoon, 07/04/16)
Comment: And now the financial restructuring begins, if you forgot the main reason for CK deciding to merge BMCL and BECL is to ensure that they can use BECL’s balance sheet to finance BMCL’s expansion
BSBM expects 2016 revenue will grow supported by rising world steel price and government projects to support demand. It plans to launch a new product. (Thun Hoon, 07/04/16)
CHO collaborating with SAP-NETIZEN to install SAP Business Design software. It has budgeted Bt10mn for this purpose. It expects to upgrade to offer one-stop services. (Khao Hoon, 07/04/16)

Continue reading Stocks in the news (aot, bcp, bem, bsbm, cho, dtac, fsmart, genco, gpsc, ifec, jas, lpn, mcs, rpc, scc, ticon) 07.04.16

Stocks in the news (aav, bgh, bjc, csl, css, kce, ktc, mill, pace, rpc, takuni, unique, vgi) 06.08.14

Thai AirAsia’s load factor slides in Q2 — Thai AirAsia (TAA) carried 16% more passengers in the second quarter but the growth lagged behind its 23% rise in capacity. Thailand’s largest low-cost carrier recorded 2.8mn passengers between April and June when it had 3.6mn seats. TAA’s load factor was 78%, down from 82% in the same period last year, due mainly to Thailand’s political unrest that led to a slowdown in inbound tourists. (Bangkok Post, 06/08/14)
Comment: Every quarter will continue to improve for AAV (and all the other airlines as well)
Shareholders approve bond issue — BGH’s shareholders approved the issue of a convertible  bond worth Bt10bn to foreign investors. President Prasert Prasarttong-osoth is keeping his target of 50 in 2015. (Kao Hoon, 06/08/14)
Comment: Again I don’t quite understand why they need to do a convertible bond. 
Berli Jucker lines up Metro – German retailer Metro AG is in advanced talks to sell its cash-and-carry unit in Vietnam to Thailand’s Berli Jucker Plc (BJC) for more than US$500mn, The Wall Street Journal reported yesterday. Europe’s fourth-biggest retailer opened its first cash-and-carry store in Vietnam in 2002 and now operates 19 stores across the country with around 4,000 employees, generating sales of US$692mn in the 2012-13 fiscal year. (Bangkok Post, 06/08/14)
Comment: Will comment on this shortly, maybe BJC would have to raise capital.

Continue reading Stocks in the news (aav, bgh, bjc, csl, css, kce, ktc, mill, pace, rpc, takuni, unique, vgi) 06.08.14

PTT vs RPC Still ongoing

This tit-tat David vs Goliath battle is still ongoing. If you remember we wrote something earlier here Quick Comment: RPC Plc

Its appears as though RPC’s management and shareholders want to fully payout all of their retained earnings thereby rendering PTT unable to collect on overdue payments, it’ll be quite interesting to see what the outcome of this will be.

Satja Janetumnugul, PTT’s chairman, said his company should have filed the injunction before RPC’s shareholders at an extraordinary meeting on May 11 approved the dividend of 98 satang a share or 498 million baht.

Mr Satja said the dividend is from retained earnings totalling 512 million baht. RPC had total assets of 3.5 billion baht on March 31 including a refinery and biodiesel facilities.

Source: Bangkok Post

Quick Comment: RPC Plc

It’s been one hectic week with the holidays and updates to send out to clients, thus sorry for the slow updates here.

Just wanted to make a quick comment on Rayong Purifier Plc which had shot up quite high intraday today on rumours:

“As appeared in “Thun Hoon” newspaper on April 17, 2012 that “Petron Crop., Major
Oil Company in the Philippines is interested in the acquisition of Rayong
Purifier Public Company Limited (PCL) or “RPC” at the Book Value of 2.91 Baht””

Source: RPC SET page

This was quickly debunked by the company at just at the start of the afternoon session.

A quick background as to what is going on here:

PTT was RPC’s sole supplier of raw material and decided to magically stop supplying RPC at the end of 2011 which has put the company under quite a fair amount of distress.

“On 30 September 2009, PTT sent a letter to the Company to terminate the Agreement upon the completion of the 15-year term on 31 January 2012. The Company objected such termination letter, since both parties intended that the Agreement be made on a long-term reciprocal basis with no end date. Clause 2.1 of the Agreement clearly stipulates that the Agreement is reciprocal and made on a long-term basis with no end date (or on an evergreen basis).”

Source: RPC SET News

Since then the case is now in the arbitration process with RPC Plc suing PTT Group for breaching the contract (its fairly obvious PTT just wants to buy RPC’s refinery on the cheap, cheeky buggers…)

My very first client [the lovely lady that she is :)] had asked me about RPC a few weeks ago and we did a quick back of the envelope analysis on it.

Mind you this is a very quick n dirty calc, that only takes 10 mins to do, but if any of you are interested in trading on rumours this would help to provide a reference point.

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