AAV

Political turbulence delays Thai AirAsia X inaugural flight –Thai AirAsia X, the country’s first medium- and long-haul low-cost carrier, has delayed the launch of its inaugural flight from the current quarter to later this year, because the skies are not clear enough due to the ongoing political tension. (The Nation, 20/02/2014)

Comments: The entire airline business has been tremendously hurt by these protests, plus the weakening baht isn’t helping matters either for the companies involved.

BCP

BCP expects 2014 EBITDA to hit Bt10bn supported by the operational startup of Phase 3 of its solar farm project. (Khao Hoon, 20/02/14)

Comment: despite the temp shut down, earnings for this company is fairly resilient

BMCL

MRTA allows fare rise — BMCL will be able to increase its fares by Bt2 on July 2 this year after approval by the MRTA. It expects no problem from Election Commission because it is in line with the existing contract. (Khao Hoon, 20/2/14)

Comment: Marginal impact upon its bottom line, still an asset that isn’t proper utilised 

CSL

CSL expects revenue and net profit growth of 3-5%. It expects its ITC business to grow 4-5%, mobile to grow by 3% and its advertising business in the yellow pages to help put the company’s net profit back in the green. It will invest Bt350mn to develop a new IDC center. (Khao Hoon, 20/02/14)

EPCO

EPCO targets 40% revenue growth in power plant projects this year — Revenue this year is expected to grow 15% YoY, with net profit growth of 90% YoY. It also reported 2013 net profit at Bt130.6mn, a 98% increase, supported by its electricity business. The company will pay a dividend of Bt60mn. (Khao Hoon, 20/02/14)

INTUCH

INTUCH aims at 5-7% revenue growth, with THCOM generating revenue from Thaicom 6 and Thaicom 7, supporting revenue growth of 10%, and ADVANC’s increase in 3G subscribers to 75% of total subs, giving revenue growth of 6-8% YoY. (Khao Hoon, 20/2/14)

Comment: THCOM is the gem in INTUCH, although earnings impact pale in comparison to ADVANC

THAI

THAI suspends Bangkok-Hat Yai service – Thai Airways International (THAI) has decided to suspend its Bangkok-Hat Yai service from March 30 because it is losing out to fierce competition from no-frills airlines. The flag carrier will instead use budget subsidiary THAI Smile to battle with low-cost carriers (LCCs).

THAI Smile will add two more daily flights on the route with narrow-body A320 jets to compensate for THAI’s daily flight, which has been served by the larger A330 wide-body aircraft. (Bangkok Post, 20/02/14)

WHA

WHA expects 2013 net profit of Bt1.4bn, 600% growth YoY, driven by higher revenues of Bt6.6bn, up 270% YoY. The company expects to pay out cash and share dividends in the second half. WHA forecasts revenues to grow by 30% this year to touch Bt7bn. (Khao Hoon, 20/02/14)

Comment: Again I just bring back the comparison to TICON here, this company has less sqm than TICON and is still trading @ higher valuations, plus the it is still a THB 27 bn market cap with less than THB 2 bn in profits