ABC
ABC set revenue target for 2015 at Bt800mn, focusing on five new concerts. The company plans to add more alliances with 3-4 credit card issuers, which it expects to conclude by mid-2015. The major shareholder intends to reduce his holding from 76% to not less than 50%. (Khao Hoon, 18/02/15)
Comment: Not a bad trade by the owner, the company still doesn’t generate any profits worthy of its valuation, its unlikely to anytime in the future.

AQUA
AQUA expects its performance to improve YoY as it will start booking revenue from its solar power business in Japan. Its first solar farm in Japan will commence operation in 2Q15. Further, its warehouse business, via a subsidiary, will expand its space by 70%. The company plans to list this subsidiary in the near future. (Thun Hoon, 18/02/15)
Comment: One of these days I’ll have to write down every company that is linked to solar/renewable..

BH
BH’s shares are favored by foreign investment funds because of the high rate of return. Also, healthcare companies are of interest to global investors. (Khao Hoon, 18/02/15)

CEI
CEI plans to reduce par value to Bt0.25/share as well as increase capital via a rights offering at the ratio of 3:1 at Bt0.25/share and private placement of 95.73mn shares at not lower than 90% of market price. Management plans to focus more on renewable energy, property development and e-commerce. CEI has invested Bt80mn to acquire W. Solar shares from WIN to develop solar rooftop project. The company will change its fiscal year to end Dec31. (Thun Hoon, 18/02/15)
Comment: And let the speculation begin.

CPALL/MAKRO
CPALL announced Bt0.8/share dividend despite a fall in net profit of 3.3% YoY to Bt10.2bn. It is working to issue a new debenture in Mar 2015. MAKRO also announced a dividend of Bt0.42/share after it reported net profit growth of 13.6% YoY to Bt4.9bn. XD is Mar 6. (Khao Hoon, 18/02/15)

DTC
Dusit Thani group to join with Japanese partner, Prince Hotel under Seibu Group, in a marketing campaign in Japan. The company expects this to attract more Japanese tourists to Thailand. (Post Today, 18/02/15)

ECF
ECF to launch a new business line soon after approval by the company’s board on Feb 27. It will announce its dividend after releasing 2014 performance. The company will expand its market to India, Myanmar and Lao. Revenue target should rise at
least 12% YoY and profit by 8%. (Thun Hoon, 18/02/15)

FPI
FPI reported strong profit growth of 21% YoY to Bt199mn. The company also announced it would issue free warrants to existing shareholders at the ratio of 4:1 as well as a cash dividend of Bt0.07/share. (Khao Hoon, 18/02/15)

IFEC
IFEC has terminated the MoU to acquire W. Solar, a subsidiary of WIN, because a modification of the solar project specifications would force it to shoulder higher expenses. WIN instead has sold W. Solar to CEI for Bt80mn. (Krungthep Thurakij, 18/02/15)
Comment: Should IFEC ever avoid a deal today, it means that the IRR must be really bad, b/c if break down each of their recent acquisitions you’ll be looking at project IRR’s in their single digits.

KCE
KCE posted historic best performance in 2014 with revenue and earnings growth of 21.4% and 79.8%, respectively. Core profit in 2014 was Bt1.82bn and net profit was Bt2.1bn. (Post Today, 18/02/15)
Comment: KCE has been one of the best performing manufacturers in Thailand since the 2011 floods, a constant expansion of capacity and a constant improvement in margins.

KTC
KTC reported net profit of Bt1.75bn for 2014, up 37% YoY from Bt1.28bn in 2013. Excluding extra items booked in 2013, its profit increased 69% YoY. (Khao Hoon, 18/02/15)
Comment: A favourite of mine before when it was a turnaround story, the company continues to impress with its growth and profitability improvements.

ML
ML becomes target for Thai and Japanese leasing companies for business partnership. It is expected that partnership with a deep-pocketed Japanese leasing company will be positive for its margin. Management expects its loan portfolio to rise 10% from the current Bt3.2bn, focusing on expanding customer base for leases for truck buyers. (Thun Hoon, 18/02/15)

MLINK
Stepping into power plant biz — After shaking up the shareholding structure, MLINK plans to invest in a new businesses: power plants in Thailand and Laos, oil-leaking detector business in Vietnam, and leasing and transportation businesses. The company is about to sign contracts in March-April 2015, making it certain in an operational turnaround this year. (Khao Hoon, 18/02/15)

PLANB
PLANB share surges 139% from IPO price to close at Bt4.78. Management reports it has not sold its 15% stake, though the shares are not subject to a silent period since they were purchased at the IPO price. The firm is ready to use the proceeds from the IPO for domestic and overseas investment. (Khao Hoon, 18/02/15)
Comment: Exactly the same as VGI’s performance, but at a higher valuation..

PPS
PPS expects booming construction business in 2015 given the government’s mega projects and private sector construction investment. This will increase the business potential for the company, both project administration and design. Its backlog could reach Bt400mn from both local and overseas projects, mainly AEC (Myanmar and Malaysia). (Thun Hoon, 18/02/15)

PT
PT’s share price has risen in response to the potential 4G project award this May and government data center project. (Thun Hoon, 18/02/15)

RICHY
RICHY reported net profit at Bt245mn, up 15.96% YoY. The company announced a stock and cash dividend, XD May 8. The company expects revenue growth of 10-20% this year and plans to open a new condominium project with value of Bt3.5bn. (Khao Hoon, 18/02/15)

ROJNA
ROJNA invests Bt3.6bn into a third SPP power plant (110MW). The company targets revenue of Bt10bn, flat YoY. This includes full-year contribution from electricity generating business of Bt9bn. Target land sales are 600-700 rai with the current backlog of 800 rai to be transferred by the end of this year. (Thun Hoon, 18/02/15)
Comment: ROJNA looks like its trying to be a HEMRAJ part 2, with the industrial estate business and now an expansion into utilities to smoothen earnings.

SC
SC will expand its customer base to mid-end housing priced at above Bt10mn. Management expects sales value of this segment could increase 10-20%, vs. only 5-10% of the overall market in 2015. This end is also not affected by concerns about high household debt and credit rejection by banks. (Post Today, 18/02/15)

TAE
TAE reported 2014 net profit at Bt219mn, up 86% YoY, driven by rising ethanol sales. The company expects strong operations in 2015 boosted by high ethanol price and cost savings. (Khao Hoon, 18/02/15)

THANI
THANI plans to issue Bt20bn debenture for business expansion. The company announced a stock dividend at 5 existing shares for 1 dividend stock and cash dividend at Bt0.03/share. (Thun Hoon, 18/02/15)
Comment: Do not be surprised to see THANI continously issuing stock dividends, they need the higher equity base in order to continue leveraging for further growth.

TISCO
TISCO announced dividend at Bt2/share on 2014 operations, or 4.4% dividend yield. XD is April 30 and payment on May 22. The company expects to see recovery of hire-purchase loans in 2H15 after a drop in January. (Khao Hoon, 18/02/15)

TKT
TKT receives order for Ford car model with value of Bt200mn. This will increase its backlog to Bt1.3bn. The company expects flat revenue growth this year. (Thun Hoon, 18/02/15)

UAC
UAC and its partner will invest in 50MW solar farm and expects revenue of Bt250mn from this project. The company will also invest in 10MW waste power plant with expected revenue at Bt250mn. (Thun Hoon, 18/02/15)

UTP
UTP company plans to invest Bt1.3-1.4bn for business expansion. (Thun Hoon, 18/02/15)