AAV
New Sapporo route affected – Thai AirAsia X chief executive Nadda Buranasiri said the airline’s Bangkok-Sapporo route would be affected by the JCAB’s ban. The airline will be able to offer service on this route for only two months, from May 1 to June 30. (Thun Hoon, 01/04/15)
Comment: All of this news about Thai airlines being subpar in quality is one of the silliest things ever done by the airline operators here in Thailand, it is just plain stupid stupid stupid.

BCP
BCP confident that 1Q15 will be better than 1Q14 as the firm is running at a higher utilization rate and refining margin is also trending up. The solar power plant in Japan will begin to book revenue in 2017. (Kao Hoon, 01/04/15)

BIG
BIG expects 10% revenue growth in 2015 in line with the continued recovery in tourism. The firm expects a better margin in 2015 than 2014’s 5.23%. (Thun Hoon, 01/04/15)

BKD
BKD expects impressive 1Q15 earnings driven by strong revenue recognition from more delivery of projects to customers. Currently, the firm has backlog of Bt2bn and expects to bid for new projects worth Bt5bn. (Kao Hoon, 01/04/15)

BTS
Adding CEO to management structure – The Board of Directors’ passed a resolution to add the position of Chief Executive Officer (CEO) to its management structure. It appointed Mr. Kavin Kanjanapas, the Executive Director, to also hold the CEO position. (Kao Hoon, 01/04/15)

CWT
CWT to restructure into a holding company – It will list more of its subsidiaries, with greater contribution from the energy business to account for more than 70% of revenue growth. The company plans to announce a joint investment with a leading EPC player in a 4MW solar rooftop and 40MW waste power plant. The first 10MW will be concluded soon. (Thun Hoon, 01/04/15)
Comment: Another player going into renewable energy!

EARTH
EARTH signs MOU for feasibility study of 300MW coal-fired power plant in the Philippines. The power project will secure 25 years of coal with EARTH or around 20mt. The company is confident that a capital increase is not necessary if the project goes through. (Kao Hoon, 01/04/15)
Comment: EARTH has been a company that piqued my curiosity for the longest time, a dual listing, one of the larger coal players in Thailand and now this project.

INET
INET will join with allies to strengthen its business. Management expects revenue in 2015 to be higher than Bt600-700mn and performance could turn around to the black after net loss of Bt6.82mn in 2014. Management is also confident that the 4G auction will be positive for the company’s business outlook. (Thun Hoon, 01/04/15)

MAJOR
MAJOR’s revenue for 2015 is expected to rise 15% YoY due to strong lineup of box office hits. It has budgeted Bt1.5bn to expand in 2015. (Kao Hoon, 01/04/15)

NOK
NokScoot to use Singapore license to fly to Japan to bypass the uncertainty about the ban of Thai-based airlines. Thai AirAsia (AAV’s subsidiary) assures consumers that the airline’s current scheduled flights are not affected. Thai AirAsia’s scheduled flights, particularly to/from China, are able to continue its service as usual. All scheduled routes have been granted flight permission. Currently, Thai AirAsia does not have any charter flight services to China. (Kao Hoon, 01/04/15)

OCEAN
OCEAN confirms plan to invest in power project. The company plans to issue a Bt300mn debenture plus sign with joint venture partners to finance the project. The company targets to hold 20% in every project. For its existing business, the company expects revenue growth of 20% in 2015 from new products and expansion of its retail and overseas business. (Kao Hoon, 01/04/15)

PJW
PJW confirms improved performance YoY after more revenue contribution from painting plant with backlog of nearly Bt100mn. Management expects revenue recognition for 2015 to reach Bt100-200mn. The company believes the worst has passed for the company with target sales growth of more than 10% YoY and improving margin from lower feedstock cost. (Thun Hoon, 01/04/15)
Comment: The issue for PJW is that they have all this new capacity but are unable to increase its utilisation, and management doesn’t have a real answer as to why it hasn’t happened yet.

SYNTEC
SYNTEC targets sales revenue of Bt21bn, up 8-10% YoY. This will be driven by higher sales volume and extra gain from the write-back of bad debt in 2012 of Bt150mn. The company plans to spend Bt100-150mn for M&A this year. (Kao Hoon, 01/04/15)
Comment: I think the news has the target sales revenue completely off.

UNIQ
UNIQ expects strong operation backed by expected strong backlog from government projects. This year, the company expects revenue of more than Bt10bn. (Thun Hoon, 01/04/15)

VPO
VPO expects weaker operation this year on lower palm price. This year the company plans to use Bt100mn to improve business and find a new opportunity. (Krungthep Turakij, 01/04/15)