Tag Archives: tuf

Stocks in the news (bjc, chow, eason, eastw, eforl, gunkul, ilink, kamart, tuf, tvo, ureka, uv, wha) 17.09.15

BJC
BJC expects 2015 performance to be better than 2014 aided by new products and increasing domestic purchasing power. It is talking to a prospective partner to invest in Vietnam and expects talks to be finalized soon. (Thun Hoon, 17/09/15)
CHOW
CHOW is doing a test run of its 3.5MW power plant which it expects to come on line in September (supply 12MW). It expects 3Q15 earnings to be good backed by revenue from power plant and steel businesses. It plans to list a subsidiary soon. (Thun Hoon, 17/09/15)
EASON
EASON expects 3Q15 earnings to be good aided by Bt20mn from selling shares in a subsidiary and high demand. It expects 2015 revenue to grow 10% from 2014’s Bt503mn thanks to high orders. (Thun Hoon, 17/09/15)
EASTW
EASTW reported 1H15 revenue of Bt2.2bn with net profit of Bt805mn (+8.41%). It plans to list subsidiary “UU” in 1Q16. (Thun Hoon, 17/09/15)
EFORL
EFORL has sold 9mn WCIH shares at Bt55/share (9% stake). It will use the funds to increase capital in WCIH and plans to list it soon. (Thun Hoon, 17/09/15)
Comment: Still no idea who the buyer was for the WCIH shares, still rather strange that they would use EFORL to buy WCIH and then have to list WCIH as a separate entity

Continue reading Stocks in the news (bjc, chow, eason, eastw, eforl, gunkul, ilink, kamart, tuf, tvo, ureka, uv, wha) 17.09.15

Stocks in the news (banpu, brock, bsm, dcon, dtac, fire, gl, pjw, s, scc, scn, spa, t, takuni, ticon, tndt, tuf, umi) 09.08.15

BANPU
BANPU plans to list subsidiary Banpu Power (BPP) on the SET in 1Q16. It targets an increase in electricity capacity from 1,878MW to 2,700MW to 4,000MW in the long term. (Khao Hoon, 09/09/15)
Comment: This should change the value proposition in BANPU dramatically.

BROCK
BROCK is talking to three prospective partners to invest in mixed-use property in Phuket, valued at Bt10bn. It expects 3Q15 earnings to be good backed by high orders. It expects 2015 revenue to grow 10%. (Thun Hoon, 09/09/15)

BSM
BSM expects to expand to Australia, finalized within 1-2 months. A JV with KCM proceeds as planned. It expects 2H15 revenue to be good backed by Bt30mn from Myanmar and India. It expects 2015 revenue to achieve target of 20% growth. (Thun Hoon, 09/09/15)
Comment: Always liked this company, never liked its valuation.

DCON
DCON expects 2H15 revenue to be good aided by 16,000 foundation piles for EA’s solar farm and high demand from private power projects and public investment. It has budgeted Bt500mn to acquire land. (Thun Hoon, 09/09/15)
Comment: DCON’s price is returning back to earth as the news of the condominium recognition is well known in the market.

Continue reading Stocks in the news (banpu, brock, bsm, dcon, dtac, fire, gl, pjw, s, scc, scn, spa, t, takuni, ticon, tndt, tuf, umi) 09.08.15

Stocks in the news (anan, atp30, bkd, chg, ecl, forth, fpi, gpsc, intuch, mill, nwr, planb, pttep, ratch, rs, samco, sappe, spcg, super, tasco, thai, tgpro, tk, tpch, tuf, uv) 14.08.15

ANAN
ANAN launches 4 new projects worth of Bt11bn. It has set a presales target of 40% per project within Aug 12-16. It is cooperating with Thai Samsung Electronics. (Khao Hoon, 14/8/15)]
Comment: And they’re spending quite the small fortune on marketing these projects, you can see their advertisements everywhere in Bangkok

ATP30
ATP30 IPO price at Bt0.95/share with 24.59% discount. It plans to invest in a bus. First trading day is Aug 27, 2015. It expects revenue growth of 15-20% in 2015. (Khao Hoon, 14/8/15)
Comment: Looks like another small IPO, watch for the first day bounce

BKD
BKD reported profit growth of 20% to reach Bt63mn in 2Q15. It targets jobs of Bt3.5bn supported by a new client. (Khao Hoon, 14/8/15)

CHG
CHG targets revenue growth of 15-20% from Bt2.71bn last year due to high season in 2H15 and expanding demand. It has budgeted Bt550mn to expand its hospital. (Thun Hoon, 14/8/15)
Comment: We still wonder aloud if this hospital group will ever be taken over.

Continue reading Stocks in the news (anan, atp30, bkd, chg, ecl, forth, fpi, gpsc, intuch, mill, nwr, planb, pttep, ratch, rs, samco, sappe, spcg, super, tasco, thai, tgpro, tk, tpch, tuf, uv) 14.08.15

Stocks in the news (bmcl, bts, ccp, cho, crane, dcon, itd, ivl, kcm, lhbank, ndr, pimo, preb, ps, pttep, s, samtel, tgci, tisco, wice, tuf) 24.07.15

BMCL
BMCL expects 2016 to be a turnaround year after EXAT approved the merger with BECL, which will support growth. The company is going ahead with the Purple Line (Taopoon-Bangsue) (Thun Hoon, 24/07/15)
Comment: The story for BMCL is its merger with BECL.

BTS
BTS is in talks with U for a joint real estate development in the Phayathai-Chatuchak area. The company will hold a 35.64% stake. (Thun Hoon, 24/07/15)
Comment: BTS is already the largest shareholder in U (formerly known as N-PARK), so lets apply some guess work and assume that BTS will do condominiums with SIRI and other developments i.e. offices/malls w/ U

CCP
CCP management says delay in mega projects will have no impact on earnings, which are backed by Bt2.3bn in backlog. The company plans to invest Bt100mn in 50-60 rai in Bongsai for new railroad tie plant aimed to reduce cost. (Thun Hoon, 24/07/15)

CHO
BMTA meets today to examine results from truth-finding committee on the purchase of 489 NGV public buses after Minister of Finance approved the deal. (Kao Hoon, 24/07/15)

CRANE
CRANE is talking with a Japanese partner for a JV or PP in order to expand its reach. Management confirms its strategy for M&A overseas. 2015 targets 20% growth YoY. (Thun Hoon, 24/07/15)

DCON
DCON is to report earnings 18 August, which is expect to come in strong, supported by Bt1.5bn worth of new condos. The biomass power plant deal is expected to finalize 4Q15. (Thun Hoon, 24/07/15)
Comment: The key driver behind DCON’s earnings this year was always the condominium transfers, the risk post recognising this is that their earnings will decrease rather dramatically

Continue reading Stocks in the news (bmcl, bts, ccp, cho, crane, dcon, itd, ivl, kcm, lhbank, ndr, pimo, preb, ps, pttep, s, samtel, tgci, tisco, wice, tuf) 24.07.15

TUF postpones it’s capital raising b/c of the DOJ

Last Friday, TUF announced it would issue 795m new shares for a US$400m capital increase to partly fund its acquisition of Bumble Bee (enterprise value of US$1,510m). The capital raising was to proceed through a preferential public offering to existing shareholders at a ratio of 6 existing shares for 1 new share at an offer price of Bt16/share, a 23% discount to the market price. But this morning, brokers, research analysts, ibankers covering TUF are having a hectic morning because the company has announced.

Tri-Union Seafoods LLC (Tri-Union), a subsidiary of the Company operating a packaged seafood business in the United States under the brand Chicken of the Sea, has received a subpoena from the U.S. Department of Justice (the DOJ) requiring Tri-Union to provide relevant information to the DOJ in relation to an antitrust investigation of the packaged seafood industry in the United States

Source: TUF

And now they’ve had to put their capital increase on hold, it’ll be interesting to see if this just a delay in their acquisition plans or something else.

Stocks in the news (bjchi, centel, cpall, cwt, dtac, kkc, mcot, ml, pae, pjw, pttgc, s, tcj, tcmc, tfd, trc, tuf, tvd, upa, ureka) 20.07.15

BJCHI
BJCHI expects 2Q15 earnings to be better than 1Q15 benefitting from FX gain. It expects 2H15 earnings to increase aided by backlog from Petrobras, worth Bt1.3bn and new projects from TUPI BV, valued at Bt5.4bn. It expects 2H15 net profit of Bt800mn. (ASTV, 20/07/15)
Comment: We do wonder aloud, weakening thb, which other export based or sectors/companies that rely upon Thailand being cheap for labour will benefit in the continued weakening of the THB? The same question of course goes for every other country in the region.

CENTEL
CENTEL expects to benefit from the baht depreciation as it will lead to an increase in tourists. Its average occupancy rate is 80% in 1H15 which is higher than 1H14. (Thun Hoon, 10/07/15)

CPALL
CPALL expects 2015 revenue to grow 11-12%. It expects water sales to grow 15% as people buy more water because of the drought. (Khao Hoon, 10/07/15)
Comment: Who else could in benefit from this? CPALL I’m finding interesting now because it looks like they will sell off part of their makro stake, to pay down their debt

CWT
CWT plans to set a Bt250mn plant in Cambodia for exports, expects this to start up in mid-2016. It targets 1mn capacity in 2019. (Khao Hoon, 10/07/15)

Continue reading Stocks in the news (bjchi, centel, cpall, cwt, dtac, kkc, mcot, ml, pae, pjw, pttgc, s, tcj, tcmc, tfd, trc, tuf, tvd, upa, ureka) 20.07.15

Stocks in the news (cwt, ea, epco, ifec, intuch, kbank, ktc, nwr, pae, preb, rml, solar, syntec, tapac, tisco, ttcl, tmi, tsr, tuf, vte) 14.07.15

CWT
CWT plans to invest in waste power plant, expects to sign PPA next month. It expects 2015 revenue of Bt1.2bn benefitting from cooperation with Japanese partner to expand abroad. (Thun Hoon, 14/07/15)
Comment: CWT has been one of those companies that has at times looked quite cheap, but according to long term market investors, it’s a shareholder group one should stay away from

EA
EA expects to show a good performance in 2Q15 benefitting from seasonality. It is talking to a prospective partner to invest in a biomass power plant which is expected to be finalized soon. The plants in Phitsanulok and Nakhon Si Thammarat are expected to operate in 2016. (Thun Hoon,
14/07/15)
Comment: The story hasn’t changed for EA, and they aren’t looking to expand into the VSPP (very small power producer)

EPCO
EPCO targets 500MW power capacity within 2-3 years, 100MW this year. Management says the deal with a Japanese and European company is expected to be finalized soon. It plans to invest in a biomass power plant in South with a partner, expected to conclude this week. (Khao Hoon, 14/07/15)

IFEC
IFEC has been selected to undertake a solar farm with Royal Thai Navy with a PPA for 60-100MW. It plans to take over other power plants in July. It plans to invest in a wind power plant in Korea. (Thun Hoon, 14/07/15)
Comment: Never hurts to have military connections in the shareholders

Continue reading Stocks in the news (cwt, ea, epco, ifec, intuch, kbank, ktc, nwr, pae, preb, rml, solar, syntec, tapac, tisco, ttcl, tmi, tsr, tuf, vte) 14.07.15

Stocks in the news (ajd, ajp, big, brock, fer, fpi, hemraj, wha, ivl, kcm, mjd, mill, pap, pcsgh, pdi, ptg, ptt, sappe, syntec, tk, tsr, tta, tuf) 09.07.15

AJD
AJD is talking to a prospective partner which is expected to be finalized in 3Q15-4Q15. This deal will increase AJD’s competitive advantage by broadening its market abroad. It is looking for a partner who has a PPA to invest in a solar farm. (Thun Hoon, 09/07/15)
Comment: Again another PPA/renewable switch
AJP
AJP will ask shareholder okay to change its name to DCORP on August 3. It plans to invest in alternative energy with a budget of Bt3bn. (Khao Hoon, 09/07/15)
Comment: See above
BIG
BIG expects robust earnings in 2Q15. It plans to introduce a new product “Mirrorless” which will have a gross margin of 21%. It targets 2015 revenue to grow 10%. It plans to open five outlets in 2H15. It plans to wipe out retained losses soon. (Thun Hoon, 09/07/15)
BROCK
Property companies are interested in taking over BROCK as it is debt free with strong fundamentals. It is talking with a Chinese partner to invest Bt10bn in property in Phuket. It expects 2Q15 earnings to be good and plans to launch a new project worth Bt400-500mn. (Thun Hoon, 09/07/15)

Continue reading Stocks in the news (ajd, ajp, big, brock, fer, fpi, hemraj, wha, ivl, kcm, mjd, mill, pap, pcsgh, pdi, ptg, ptt, sappe, syntec, tk, tsr, tta, tuf) 09.07.15

Stocks in the news (aav, aira, amata, anan, bay, cfresh, ck, gunkul, intuch, ivl, jas, ktc, rci, seafco, smt, tuf) 24.06.15

AAV
Management is confident there is no impact from ICAO. There is no suspension for any AAV scheduled flights with regards to the ICAO issue. (Thun Hoon, 24/06/15)
Comment: AAV’s core growth market is China, as long as China is ok then it doesn’t matter what ICAO says.
AIRA
AIRA shareholders approved raising capital by 3,160 shares at rights of 5 old shares to 2 new shares priced at Bt1 with AIRA-W1 and AIRA-w2, XR on June 25, selling period on July 10–July 16. The objective of this capital increase is to invest in subsidiaries and for future projects. (ASTV, 24/06/15)
Comment: Must be a typo by the news, 3,160 shares? 
AMATA
AMATA targets sale of 1,000 rai this year. 2015 revenue from selling land is expected to be higher than 2014’s Bt5.34bn thanks to higher average selling price of approximately 3%. It plans to set up a subsidiary with Sodexo. (Khao Hoon, 24/06/15)
ANAN
ANAN and Mitsui have partnered to launch five condominium projects via five subsidiaries. It expects Bt10.5bn in revenue this year. (Thun Hoon, 24/06/15)
Comment: And they have sold all of those projects out

Continue reading Stocks in the news (aav, aira, amata, anan, bay, cfresh, ck, gunkul, intuch, ivl, jas, ktc, rci, seafco, smt, tuf) 24.06.15

Stocks in the news (bwg, cpf, gfpt, kcm, lpn, nusa, oto, ptt, rs, sena, takuni, tcj, thai, thani, tmill, tpch, tuf) 17.06.15

BWG
Investors from Qatar are interested in BWG shares due in recognition of its strong fundamentals from waste power plant. Management says 2H15 performance will be good. It expects 2015 revenue of Bt1.5bn. It expects to book revenue from 9.4MW waste power plant next year. (Thun Hoon, 17/06/15)
Comment: How did this strange company all of a sudden become a darling? Simple the waste-to-energy power plant business has fantastic returns

CPF
CPF expects shrimp business recovery in 3Q15 supported by high season and a weak baht. It plans export shrimp to China. (Thun Hoon, 17/06/15)

GFPT
GFPT’s profit in 2Q15 is expected to be better than 1Q15, benefitting from increasing in chicken price. It expects 10-15% export growth this year. It plans to expand abroad. (Thun Hoon, 17/06/15)
Comment: At the right price this is an amazing buy, great chicken company.

KCM
KCM plans to expand its steel roof customers into the Philippines and expects to finish the deal this year. It plans to push the container office project to get more margin. It expects to get Bt6mn after warehouse for rent in Chiang Mai finished its deal. It expects revenue growth of 15- 20%. (Thun Hoon, 17/06/15)

Continue reading Stocks in the news (bwg, cpf, gfpt, kcm, lpn, nusa, oto, ptt, rs, sena, takuni, tcj, thai, thani, tmill, tpch, tuf) 17.06.15