AAV
TAA flies Krabi-Guangzhou – Thai AirAsia (TAA) is strengthening its network in China with the launch of a new route aimed at the renewed surge in arrivals from the world’s most populous country. Thailand’s largest low-cost carrier will begin non-stop daily service connecting Krabi with the southern-Chinese economic hub of Guangzhou on Nov 6. (Bangkok Post, 16/09/14)

AJD
Management: AJD to be the #1 set top box producer. Management is confident the company will lead competitors and expects sales volume of 2mn boxes or Bt3-4bn. It expects 4Q14 earnings to rise sharply to a high not seen in 13 years. The company is negotiating with a partner to set up a subsidiary, focusing on on-line business. (Thun Hoon, 16/09/14)
Comment: Hence their wonderful stock price performance

ANAN
Japanese partner boosts Ananda’s sales – After investing Bt2.5bn in three joint-venture condo projects with SET-listed developer Ananda Development Plc (ANAN), Japan’s largest property developer will inject another Bt2.5bn for projects next year. Tomoo Nakamura, executive director of Mitsui Fudosan (Asia) Pte, based in Singapore, said the joint venture with Ananda was a long-term investment due to the market potential of Thailand and Bangkok. (Bangkok Post, 16/09/14)
Comment: If they can continue to work together, how much longer before ANAN does a PP to Mitsui?

BKD
Bangkok Dec-Con signs Cambodia decoration deal – Bangkok Dec-Con Plc (BKD), a mai-listed interior decorator and made-to-order finished furniture company, has expanded internationally and expects foreign revenue will account for 10% of the total next year. The company yesterday signed a memorandum of understanding with Chip Mong Land, one of the largest property developers in Cambodia, to decorate The Parkland Sansuk, a residential project located on 200,000 square metres in Phnom Penh. (Bangkok Post, 16/09/14)

CSS
CSS XW on 26 September at a ratio of 2.5 (2.5 existing shares : 1 warrant). Management maintains revenue target of Bt4bn in 2014 as it has backlog of Bt2.4bn. (Kao Hoon, 16/09/14)

GFPT
GFPT expects to obtain license for exporting broilers to the Philippines — This will support revenue growth. Management said orders have increased sharply in 2H14 after it added new markets in Japan and Malaysia and demand is strong in Russia, EU and Asia, leading to export volume of 25,000 tons or revenue of Bt20bn. (Thun Hoon, 16/09/14)
Comment: The best pure chicken manufacturer in Thailand.

IRPC
Fears stock loss — IRPC is concerned that declining oil prices in 2H14 will force it to book a stock loss. It is setting up PTT Group CG Day 2014 for anti-corruption campaign. (Kao Hoon, 16/09/14)
Comment: Every oil-related co will have stock losses for the 3Q b/c of the oil price decline.

KSL
KSL reported 3Q14 net profit of Bt358mn (May-July), -42% YoY, as revenue declined by 23% YoY after clients delayed delivery of their sugar orders. It expects large deliveries in 4Q14. (Kao Hoon, 16/09/14)
Comment: Sugar has the same issue that rice & rubber has/had, oversupply in the global market.

PTT
PTT eyes US$22bn Saudi JV – Saudi Aramco, the national oil and gas firm of Saudi Arabia, may enter into a joint venture with energy giant PTT Plc in a US$22bn oil refinery and petrochemical complex in central Vietnam. Atikom Terbsiri, a senior executive vice-president of PTT, said the feasibility study for the new chemical complex was submitted for approval from Vietnamese Prime Minister Nguyen Tan Dung last Friday. (Bangkok Post, 16/09/14)

QH
QH confident 2014 revenue will hit target of Bt19.4bn. It plans to launch 17 new projects in 2H14 with a total value of Bt17.48 and increase marketing to push presales and revenues up further. (Kao Hoon, 16/09/14)

SIRI
SIRI says 2015 net profit will grow 10-11%, supported by its mid-long term business plan. Its shareholders have approved a capital increase of Bt19.82bn and the issuance of SIRI-W2 warrants to support the company’s strategy of “Engineering for Growth”. (Kao Hoon, 16/09/14)
Comment: Waiting for a SIRI part 2 play in a few years.

THCOM
No worries about solar storm — THCOM is confident that the solar storm will not impact its satellites and operations. It is closely monitoring the situation. (Kao Hoon, 16/09/14)

TVD
Proposing cash and stock dividend — TVD is waiting for shareholders to give approval on Sep 24 to a cash and stock dividend of Bt0.21/share, giving a high yield of 38% after it booked extra income of Bt100mn. It plans to raise its 2014 revenue target by 20% to incorporate the boom in digital TV business, leading to expansion in TV viewers. (Kao Hoon, 16/09/14)
Comment: Stock price currently @ 5.05, not sure how this newspaper calculated a 38% yield….

TUF
TUF acquires King Oscar – Thai Union Frozen Products Plc (TUF), the world’s top exporter of canned and frozen tuna and shrimp, says it will continue to make acquisitions abroad with a targeted return on investment (ROI) of at least 15%. TUF president and chief executive officer Thiraphong Chansiri revealed his intention after TUF yesterday announced it would acquire 100% of the assets and the trademark of Norway’s King Oscar, a leading seafood brand. (Bangkok Post, 16/09/14)
Comment: A Short post to come on this shortly.

WHA
WHA is ready to meet its first group of investors, institutional investors, on a roadshow for its REIT that will start at the beginning of October. It expects to start selling in November and said it will be the first industrial REIT. The company also expects to book revenue from sale of assets of Bt4.5bn in 4Q14. (Kao Hoon, 16/09/14)
Comment: WHA continues to grow strongly on the back of cap increases/prop sales to reits/property funds, and while I’ve been impressed there come a point (Similar to ticon) when growth trails off and the price will dwindle down.