ADVANC
AIS lays broadband blueprint – Advanced Info Service (AIS), the country’s largest mobile operator, is jumping on the fixed-line broadband internet bandwagon with planned commercial service to begin in early 2015. “We believe now is the perfect time to enter the market, worth 50-60 billion baht last year, as the industry just reached a mature stage,” said Somchai Lertsuthiwong, the new chief executive of AIS. (Bangkok Post, 01/10/14)

AMATA
Amata sees capital inflow from China, Japan – Amata Corporation Plc, the leading factory park developer, anticipates a flow of investment from Japan and China as the economic and investment policies of the provisional government become clearer to foreign firms ahead of the Asean Economic Community 2015. (The Nation, 01//10/14)
Comment: The only reason to hold AMATA would be its IPO of Amata Vietnam which has been postponed until next year.

CPF
CPF in talk to acquire US firm – Charoen Pokphand Foods, one of the country’s largest agro-industrial and food conglomerates, is in negotiations with a leading food production and marketing company in the US over a possible acquisition. (The Nation, 01/10/14)
Comment: Isn’t it amazing to see Thai firms acquire firms in the US & Europe?

CPN
CPN reports construction of Central WestGate more than 60-70% completed and it is confident the mall will be open and ready to operate by May 2015. It confirms target revenue growth this year of 15% and maintains its 5-year revenue growth target of 10-15% per year. (Kao Hoon, 01/10/14)
Comment: Central WestGate is supposedly a prototype of a “super Regional Mall” located at Bang Yai, project valued @ THB 10 bn

HMPRO
HMPRO does a road show in the US to attract foreign investors. It expects better 3Q14 revenue than 2Q14’s Bt12.7bn as demand has recovered. The company is ready to add five new branches to support growth. (Thun Hoon, 01/10/14)

IMPACT
IMPACT starts first day trading today. The company reports that institutional investors have taken its shares including Government Savings Bank, Thai Life Insurance, Allianz Ayudhya, and Southeast Life Insurance. (Kao Hoon, 01/10/14)

IRPC/TPIPL
Litigation between IRPC and TPIPL finally ends after both parties agree to settle on all disputes, giving IRPC a short-term catalyst as it will receive Bt470mn in prepaid rental fees immediately from the termination of the lease for the TPI Tower. This should also help smooth earnings in the further. The financial industry expects trading in IRPC-TPIPL shares to be active today. (Kao Hoon, 01/10/14)

IRPC
The IRCP board has given the green light on the stock dividend payment of 5.03780:1 (existing: new) shares and cash dividend of Bt0.02206/share; XD Oct 10th, 2014. The company is also waiting for the shareholder’s approval for the issuance of warrants on ordinary shares in the next shareholders’ meeting on November 5th. (Kao Hoon, 01/10/14)

KBANK
KBank updates digital system – Kasikornbank (KBank) has spent Bt1.5bn upgrading its digital banking platform for corporate customers. The move is aimed at boosting its market share in the transactional banking business to 30% in the next three years and raising its fee based income. (Bangkok Post, 01/10/14)

L&E
L&E expects to book revenue of Bt50mn from the installation of LED for the PEA in 4Q14. It maintains its revenue growth target this year of 15-20% and is confident that revenues will continue to grow in 2015. It said it is ready to expand aggressively in AEC to help push sales and plans to raise the proportion of overseas sales to revenues to 10%. (Kao Hoon, 01/10/14)

PTT
Higher NGV prices to cut losses — PTT said the Ministry’s decision to increase NGV price by Bt1/kg starting today will help cut its losses by Bt2bn per year. This will reduce losses in the last three months of the year by Bt500mn. It is currently holding an accumulated loss in NGV of more than Bt100bn. (Kao Hoon, 01/10/14)
Comment: A post to come on this shortly.

SAMCO
SAMCO expects revenue to reach Bt4bn in five years as the company will launch at least two projects per year with capex of Bt500-600 p.a. Management expects revenue of Bt1.12bn in 2013 and is confident that net profit will be better YoY. The company has backlog of Bt200mn and continue to set up a community mall in Khon Kaen. (Thun Hoon, 01/10/14)
Comment: FY13 Revenue was its highest at THB 1.2 bn, so thats a near 4x increase over 5 years, is this sleepy prop co finally waking up? Numbers wise, if they can hit THB 4bn, NPM’s at or above today means THB 450 mn in profits EPS 0.60, stock is currently @ 3.38.

SENA
SENA confident 2014 revenue will reach target of Bt2.5bn supported by its current backlog of Bt1.8bn, with Bt1bn to be booked this year. It said that presales for 9M14 have exceeded Bt2.1bn. It will launch four new projects worth Bt1.6bn and help open the “Ban Ruamtangfun 4” project. It has donated a total of Bt40mn from the “Ban Ruamtangfun 3” to the Ramathibodi Hospital. (Kao Hoon, 01/10/14)

SMM
SMM expects turnaround in profit this year, supported by the recovery in business in 2H14 that raised orders for print products; it will also start booking revenues from digital TV. It said there is a possibility it will win rights to manage sports competitions. (Kao Hoon, 01/10/14)

SUTHA
SUTHA has a quarry on 31 rai and expects to obtain a big public project. Management said the company is #1 of lime market after it invested Bt250mn to set up two factories supporting capacity to be 438,000 tons p.a. and add revenue of Bt300mn p.a. It expects solid growth in 3Q14 as steel and sugar firms has ordered large lots. (Thun Hoon, 01/10/14)

THAI
THAI reports cabin factor of 75.3% in August 2014. It believes tourism is beginning to recover and approves Thai Smile Airways’ flight in the winter. (Kao Hoon, 01/10/14)
Comment: I used to fly Thai airways often, nowadays I can go to Europe on Emirates @ 30% cheaper pricing, fly around Asia w/ AirAsia @ 50% cheaper pricing, I just don’t see them being able to compete with the current management.

TRUE
TRUE: no impact from expiration of contract with MCOT as it has the license that allows it to operate subscription-based TV. The company is launching TRUE Smart Series to access the smartphone and tablet market. (Kao Hoon, 01/10/14)

TSE
TSE, HMPRO, and SCB have developed solar rooftop with 11MW capacity. TSE is preparing to sell 450mn IPO shares. (Kao Hoon, 01/10/14)