AAV
AirAsiaGo taps booming middle class – AirAsiaGo, one of Asia’s fast-growing online travel portals, is expediting its expansion in Thailand to catch in on the trend for online travel booking. Yesterday’s announced launch of a US$10mn technology platform, engineered by travel technology giant Expedia, will be instrumental to its aggressive growth plan. (Bangkok Post, 19/08/14)

ASP
ASP says 2014 net profit will exceed its target of Bt670mn after average trading volume for 2H14 to date has surged to more than Bt40bn per day compared to the Bt31bn in 1H14, spurred by resolved political problems which encouraged investment sentiment. (Kao Hoon, 19/08/14)
Comment: Still overall the best broker/investment house in Thailand today

BCP
BCP says 2014 EBITDA will exceed Bt10bn from Bt5bn in 1H14 as oil price in 2H14 is more stable and the company book will revenue from its biodiesel and solar farm projects. (Post Today, 19/08/14)
Comment: The issue arising from BCP is in regards to their latest E&P expansion, not too sure if they’re overpaying.

CCN
CCN preparing to list on MAI in 3Q14. It will sell 60mn IPO shares and use the funds for working capital to support business growth. (Kao Hoon, 19/08/14)

CHG
CHG to pay interim dividend of Bt0.10/share, XD Aug 25 and payment on Sep 10, after reporting 1H14 net profit of Bt241.36mn, up 33.8% YoY. (Kao Hoon, 19/08/14)

KTC
KTC expects to reach 2014 net profit target after posting Bt826mn in net profit in 1H14. It will also pay a dividend of Bt2.40/share, up from last year’s Bt2.00/share. ROE will be at least 20%, while NPLs have been trimmed to 1.2%. (Kao Hoon, 19/08/14)
Comment: The wonderful turnaround for KTC still continues

MILL
Millcon eyes private placement – SET-listed Millcon Steel Plc (MILL) is approaching investors about subscribing to its capital-increase shares to fund its long-awaited acquisition of assets belonging to Thai Special Steel Industry (TSSI). The company is seeking potential buyers from domestic and international markets but has yet to indicate how much in proceeds it hopes to raise from the recapitalisation, president and chief executive Sithichai Leesawaditrakul said yesterday.(Bangkok Post, 19/08/14)
Comment: Isn’t this the company that has a crime case against senior management for embezzling funds? The mind just boggles.

MINT
More hotel acquisitions — MINT has entered into agreements to acquire hotels in five different countries and eight hotels in South Africa for a combined Bt2.04bn. It sees high growth potential in these projects and says the acquisitions will expand its business further. It also said that revenues in 2H14 will be better than in 1H14. (Kao Hoon, 19/08/14)

MJD
MJD expects earnings to grow sharply in 3Q14 and be highest in 4Q14 on greater revenue. 2014 earnings will be pushed up by the sale of assets of Bt2.1bn. It purchased land near mass transit and these will generate income. Management plans to use a subsidiary for hotel business expansion and set up a plant for hotel construction in Pattaya worth Bt1bn. (Thun Hoon, 19/08/14)
Comment: One day when the two brothers running this co get their act together would it be investable, for now I’d just stay away.

MTI
MTI sets investment return target of 4-5% this year. It plans to continue buying more shares with strong fundamentals into its portfolio, with a focus on telecoms, exporters, transportation and energy. It expects to maintain its equity investment portion of 25%.(Kao Hoon, 19/08/14)

PSTC, TSE, WAVE
Renewable energy firms expect to list on the stock exchange. The Sirivadhanabhakdi family has submitted a filing to list PSTC. The Maleenont family is preparing to list. WAVE says its board approved the purchase of 22mn IPO shares of TSE or 1.2% of total 450mn shares with Bt1 par value. (Post Today, 19/08/14)
Comment: More renewable energy firms!

RS
RS sees a bright outlook for 2H14 aided by booking Bt308.9mn revenue from payment for the free broadcasting of the World Cup and strong revenues from its digital TV business. (Kao Hoon, 19/08/14)

TK
TK expects 2014 net profit to be lower than 2013 on an expected decline in 2014 revenue of 10% YoY. It has faced a slowdown in loan demand since 2H13 and NPLs have risen from 4.4% in 2013 as borrowers face problems. The company expects NPLs of not more than 5-5.3%. (Kao Hoon, 19/08/14)
Comment: You can look at their numbers in two ways 1) earnings are collapsing! or 2) revenue declined 10% profits declined 90% so when will NPL’s improve and this company have a turnaround of performance?

TRT
TRT reduces revenue target to Bt2.63bn and expects revenue of Bt1.8bn in 2H14. The company is ready to bid for projects worth Bt8.1bn and expects to obtain 20-25% of its bids. It sees a bright outlook for 2015 as it has backlog of more than Bt2.3bn.(Kao Hoon, 19/08/14)

UMI
UMI expects property market to recover in 2H14. It expects the government to start investing in its mega projects. It expects sales this year to reach Bt4bn. It also plans to expand its customer base through dealers and projects. The company reported 2Q14 net profit of Bt43mn, up 33% YoY. (Kao Hoon, 19/08/14)