Tag Archives: tsr

Stocks in the news (drt, dtac, ea, ichi, kc, ldc, match, oishi, ptt, rcl, richy, rs, samco, tsr) 13.01.15

DRT
DRT expects sales this year to be better supported by the recovery in the construction material and real estate markets as the government continues to inject investment to help stimulate the economy. The company plans to launch new products and expand in markets at home and aboard. (Kao Hoon, 13/01/15)
Comment: We do wonder aloud when DRT’s numbers will improve, market share wise they are still dominant thus any recovery in their earnings would demonstrate growth again upcountry

DTAC
DTAC opens new service center located in the basement floor of the Big C V Square Plaza, the commercial heart of Nakorn Sawan. The new service center is expected to help meet the needs of customers located in the lower north provincial region. (Kao Hoon, 13/01/15)

EA
EA expects 2015 earnings to double 2014’s expected profit of Bt1.6bn supported by its 90MW power plant project located in Lampang, which should start selling electricity by the end of this month. It will also invest Bt18bn to develop a new power plant in Pitsanulok and one in the southern region with a total capacity of 126MW. (Thun Hoon, 13/01/15)
Comment: There’s no surprise on what is happening with EA’s earnings, they have everything laid out for the next 3-4 years. The problem is that the stock price is already full valuing everything.

Continue reading Stocks in the news (drt, dtac, ea, ichi, kc, ldc, match, oishi, ptt, rcl, richy, rs, samco, tsr) 13.01.15

Stocks in the news (beauty, dtac, gfpt, jas, kcm, match, mtls, noble, pca, ptsc, sc, trt, true, tsr, vpo) 27.11.14

BEAUTY
BEAUTY expects 2015 revenue and net profit growth of 20% YoY as it will invest Bt150mn in a warehouse and employee development and Bt150-180mn in new branches. (Kao Hoon, 27/11/14)
Comment: The only consumer name in Thailand that has had positive SSSG, a growth machine, a cash machine its positively surprised me, shows how much I know about the cosmetics industry

DTAC
DTAC urges clear-cut strategies and goals — Pooling infrastructure an essential basis. The government needs to establish clear-cut national strategies and goals for the development of the digital economy if it wants the initiative to get off the ground, says the head of Total Access Communication. Focusing only on the implementation process will not guarantee success, said Sigve Brekke, interim chief executive of DTAC, the country’s second-ranked mobile operator. (Bangkok Post, 27/11/14)
Comment: The news regarding TOT selling its stake in DTAC had pushed the stock price down to levels where the dividend yield is now 6%+

GFPT
GFPT confident export sales this year will grow 15-20% to growth of 8-10% in 2014 revenue, as targeted. 4Q14 earnings are expected to jump due to lower costs. (Kao Hoon, 27/11/14)
Comment: 2014 numbers were comfortably going to beat 2013 with the rebound in chicken prices

Continue reading Stocks in the news (beauty, dtac, gfpt, jas, kcm, match, mtls, noble, pca, ptsc, sc, trt, true, tsr, vpo) 27.11.14

Stocks in the news (cbg, cho, demco, erw, mtls, nch, oishi, pdi, seafco, scc, slc, tfd, trc, tsr, tsth, vpo) 24.11.14

CBG
CBG closed at Bt32.50/share, above its IPO price of Bt28/share. The company plans to lead the energy drink market within five years and expects revenue of Bt10bn in 2017. (Kao Hoon, 24/11/14)
Comment: We still think its going to trade in a similar manner to ICHI for the next few months

CHO
CHO reports backlog of Bt800mn and will book more than Bt300mn in 4Q14. The company has adjusted its 2014 revenue target to Bt1.3bn or +50% YoY from +15% YoY after its 9M14 was higher than expected. It continues to bid for additional projects. (Kao Hoon, 24/11/14)

DEMCO
Management ready to sell DEMCO shares to anyone who is interested. The company has 40mn shares for private placement and some warrants. There are many investors showing interest as DEMCO is cheaper than peers. (Kao Hoon, 24/11/14)
Comment: Demco has been one of the star performers of the past few years with the expansion into renewable energy, this PP and warrant is most likely going to be well received by investors and the market.

Continue reading Stocks in the news (cbg, cho, demco, erw, mtls, nch, oishi, pdi, seafco, scc, slc, tfd, trc, tsr, tsth, vpo) 24.11.14

Thailand’s IPO Frenzy

Want to feel like a rock star investor? Get into the small IPO’s. Anyone who was able to get IPO’s this year has been feeling that way, excluding IPO’s where commercial bank’s were the underwriters (here’s looking at you KBANK and SCB). The basic framework for IPO’s performing well on their first day hasn’t changed, if the market cap, free float are small enough, first day returns were and are likely to continue to be amazing given the market environment.

On the flip side, is this really a good thing? Shouldn’t IPO prices remain somewhat constant on their first day? If we’re seeing such high positive first day movements then the investment bankers aren’t doing their jobs properly on behalf of their clients (the listing companies) and are mispricing everything thereby missing a lot of potential capital..meh as if people care…

IPO FrenzhSource: Bangkok Post

 

Stocks in the news (aav, advanc, bay, dna, gunkul, ircp, kbs, ktc, pps, spali, tsf, tsr) 20.06.14

AAV
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!

ADVANC
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
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.

Continue reading Stocks in the news (aav, advanc, bay, dna, gunkul, ircp, kbs, ktc, pps, spali, tsf, tsr) 20.06.14

Stocks in the news (cimbt, forth, gl, itd, mint, sc, stec, tndt, tsr)

BGH

Issuing bonds — BGH will issue unspecified currency convertible bond worth no more than Bt10bn with a tenure of ~5 years. The company will use the cash to fund investments. (SET, 19/06/14)

Comment: Why?! They are net cash, why would the company bother to do this, wouldn’t a normal bank loan be cheaper? Nuts someone go slap the CFO

CGD

CGD is confident of profit in 2014, backed by sharp revenue growth from booking phase 1 and 2 of Element Condo at Srinakarin and the setup of an REIT worth Bt1.4bn in late 3Q14. It recently began to construct the Land Mark project. (Khao Hoon, 19/06/14)

Comment: CGD is going to become popular in the news, announcements of their new massive project, booking revenues from their massive project in Srinakarin and now a REIT (but with what?) towards the end the year.

CIMBT

CIMBT keen on transfer – CIMB Thai Bank (CIMBT) aims to annually double its transactions and fee-based income from its international money transfer service, SpeedSend, over the next few years. This is because of expected growing remittance demand with the launch of the ASEAN Economic Community in late 2015. (Bangkok Post, 19/06/14)

Continue reading Stocks in the news (cimbt, forth, gl, itd, mint, sc, stec, tndt, tsr)

Stocks in the news (aav, ap, cgd, css, dtac, earth, ocean, lpn, pf, ptt, tsr) 17.06.14

AAV

Thai AirAsia X: Maiden flight to Korea today. CEO says it has a load factor of 100% and 80% of them booked three months age. It will begin flights to Tokyo and Osaka early next month and is confident that the Thai political scene is not a problem. (Khao Hoon, 17/06/14)

Comment: AAV – still the best airline play in Thailand within the airline space and a recovery idea to boot. 

AP

AP posts 26% sales growth January-May — During the first five months, AP posted Bt7.5bn in presales and expects Bt8.7bn in presales in the first half. In the second half of this year, AP plans to launch eight new projects worth a combined Bt7.86bn. It targets achieving Bt21bn in presales for the full year. (Bangkok Post, 17/06/14)

Comment: Their JV’s with the japanese firm have made a lot of sense for their balance sheet

CGD

CGD to launch Bt10bn Landmark Waterfront on 18 June and will hire Thai Bauer and PYLON to do the bored pile work. The board approved a warrant issue at a ratio of 3:1 and 300mn private placement shares. (Khao Hoon, 17/06/14)

Comment: We’ve been waiting to see how CGD would pay for this massive project, well there you go, raise some THB 500 mn via a PP.

CSS

Strong 2014-15 — CEO Sompong Kangsawiwat expects strong growth of revenue and net profit in 2014-15, with revenue of Bt4.4bn in 2015 from Bt4bn in 2014. It has backlog of Bt2.3bn and will bid for installation of 4G network in August. (Tun Hoon, 17/06/14)

Continue reading Stocks in the news (aav, ap, cgd, css, dtac, earth, ocean, lpn, pf, ptt, tsr) 17.06.14

Stocks in the news (becl, bjchi, irpc, lpn, maco, ptt, sawad, sena, tsr, uac) 10.06.14

BECL

BECL reports traffic cut by curfew. Its traffic volume contracted 2.5% in May and is expected to be negative in 2Q14. It expects traffic growth of 0.5% in 2014. (Khao Hoon, 10/06/14)

Comment: This along with the “black market” businesses are all hurt by this curfew in Bangkok

BJCHI

BJCHI is waiting on results for new work in Australia and Brazil worth Bt6bn. This will help bring up current backlog of Bt4.4bn. It expects to book 75% of its backlog this year. It said 2Q14 revenues will be better than the previous quarter and revenues are expected to grow by 15% YoY this year. (Khao Hoon, 10/06/14)

Comment: Still trading at valuation discount to STPI despite it being involved in the same industry.

IRPC

Fire damages diesel unit at IRPC’S Thai Rayong refinery – A fire damaged a diesel production unit on Monday at the Rayong plant operated by Thai refiner IRPC. The fire broke out at the preparation area to supply feedstock to a diesel cracking unit. The blaze at the refinery, on the coast of the Gulf of Thailand, was brought under control, said IRPC CEO Sukrit Surabotsopon. (Reuters, 10/06/14)

Comment: IRPC…a constant disappointment.

Continue reading Stocks in the news (becl, bjchi, irpc, lpn, maco, ptt, sawad, sena, tsr, uac) 10.06.14

Stocks in the news (ajd, bec, bkd, ktb, ocean, scc, spcg, tae, thai, tsr, vibha) 02.06.14

AJD
AJD maintains triple revenue growth in 2014. It is confident it will be in the black in 2Q14 with higher revenue supported by seasonality. It will book revenue from set top box sales in 3Q14 and is aiming to do a joint venture with a Chinese company to access the game market this quarter. (Khao Hoon, 02/06/14)
Comment: So this another company that will benefit from the digital tv, still not quite confident on its foray’s into this “game” market. 
BEC
Ordered to send more info to court — The Administrative Court has ordered the National Broadcasting and Telecommunication Commission and BEC to send more information about the Must Carry lawsuit by June 6. The BEC says that if the court will not protect it, the losses will hurt its business and the 16mn subscribers of its 3rd channel on cable TV. (Khao Hoon, 02/06/14)
BKD
BKD says 2Q14 will be better after the National Council for Peace and Order eased political turmoil, supporting business recovery. It has obtained a dormitory project valued at Bt120mn and is preparing to sign new work overseas worth Bt2bn. It will bid for three to four additional projects worth Bt2bn and expects 100% growth net profit with 50% YoY revenue growth to Bt1bn. (Tun Hoon, 02/06/14)
Comment: This interior decorator has some lumpy earnings, there is no surprise that net profit may grow over 100%, especially given that it dropped some 95% in 2013.

Continue reading Stocks in the news (ajd, bec, bkd, ktb, ocean, scc, spcg, tae, thai, tsr, vibha) 02.06.14