ADVANC
Board approves Bt4.6bn for fixed broadband investment. Management reports that demand for internet has risen to 6.8mn households. It believes in its network coverage and targets 80,000 clients in the first year. (Thun Hoon, 10/09/14)

AOT
AoT hosts ASEAN airports forum – Leaders of Southeast Asian airport authorities will congregate in Phuket today and tomorrow for talks on airport development and environmental management. Airports of Thailand Plc (AoT) will play host to the ASEAN Airport CEOs Forum 2014 and the second AAA Environmental Working Group Meeting, which will feature the theme of “A Sustainable Mind for One ASEAN Sky”. Participants include chief executives and senior management of airport operators from the 10 ASEAN members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Vietnam and Thailand. (Bangkok Post, 10/09/14)

BANPU
Banpu wins appeal over Siva payout — The dispute between Banpu, one of Asia’s largest coal producers, and Siva Nganthavee over the coal-fired power plant Hongsa project in Laos is far from reaching a conclusion after the Appeals Court overturned the Civil Court’s ruling ordering Banpu to pay compensation to the plaintiff. (Bangkok Post, 10/09/14)
Comment: This has been an overhang on banpu’s stock plus coal prices have been declining.

BEC
Channel 3 to appeal NBTC’s order – Channel 3 is likely to appeal against a 15-day time limit imposed on cable and satellite TV broadcasts of its analogue content. (Bangkok Post, 10/09/14)
Comment: BEC has 2 choices, fight this, or switch everything over to digital TV

JAS
Court rejects TT&T’s suit – The Nonthaburi Provincial Court yesterday dismissed a request by TT&T Plc for injunctive relief to prohibit Acumen, a unit of Jasmine International, from selling the shares it holds in TT&T’s unit. TT&T filed a statement with the Stock Exchange of Thailand yesterday saying the dismissal was on the grounds that the planned establishment of an infrastructure fund by Jasmine International has yet to be approved and it is uncertain if the project will take off. (Bangkok Post, 10/09/14)
Comment: Still think its a house of cards, I have my doubts still that their infrastructure fund will go through.

KBANK
KBank bids to attract Japanese investors – Kasikornbank (KBank), the country’s fourth-largest lender by assets, expects 50-70 Japanese small and medium-sized enterprises (SMEs) with investments totalling Bt3.5bn will expand to Thailand through the bank’s collaboration with Tokyo Metropolitan SME Support Center. (Bangkok Post, 10/09/14)

MAKRO
Calling extraordinary shareholders meeting — MAKRO is calling an extraordinary shareholders meeting for 26 September to approve the acquisition of land and buildings from CPALL for Bt1.26bn after evaluation by the financial advisor indicates the deal is appropriate. (Khao Hoon, 10/09/14)

MK
MK cuts revenue target 5% to Bt2.7bn and sales volume by 10% to Bt2.8bn in 2014 to reflect construction delays and inability to launch new projects as planned. It will launch three projects worth Bt3.3bn rather than the four expected earlier. (Kao Hoon, 10/09/14)
Comment: Rumour has it that MK is up for sale.

NOBLE
Noble targets B4bn in sales next quarter – SET-listed developer Noble Development Plc targets Bt4bn in sales in the fourth quarter from three new residential projects worth a combined Bt6bn. They are due to be launched this year. Vice-president Theeraphon Voranithiphong said the company was confident that Noble Recole, worth 2.3 billion baht, would be sold out on the first booking date on Sept 28 because of strong demand. (Bangkok Post, 10/09/14)

PREB

PREB waiting for results of bids for new work worth Bt3bn; it expects to receive 50% of its bids. It maintains its 2014 revenue target at Bt6.8bn, supported by current backlog of more than Bt9bn. It plans to issue new debt worth Bt500mn and use the proceeds to acquire new land. It also said that a Chinese fund has shown interest in buying its shares. (Kao Hoon, 10/09/14)
Comment: PREB is a wonderful example of a construction company that successfully moved up the value chain to be a property developer as well.

PTTEP
PTTEP looking for new opportunity to invest in Myanmar. It says that more than 240mmcfd of gas from Zawtika has been sold to Thailand. It will launch “PTTEP Teen Energy U Camp” to help increase awareness of nature conservation. (Kao Hoon, 10/09/14)

SANKO
SANKO expects net loss in 2014 but less than 2013. The company expects to be in the black in 2015 with revenue growth of 10% YoY. Its capacity will be 2.7mn cars per year in 2015. (Kao Hoon, 10/09/14)

SAT
SAT to invest Bt400-500mn in a project in overseas. The company expects revenue growth of -10% YoY as production volume declines. It is confident that revenue growth will be 5-7% YoY in 2015, in line with industry growth. (Kao Hoon, 10/09/14)
Comment: One of the best run automanufacturers in Thailand, plus they have the kicker of manufacturing Kubota (agri machinery) as well now.

SGP
SGP expects to see recovery in 2H14. It is confident that international sales will grow and expects LPG prices to increase in 4Q14. It reaffirms its plan to open more LPG service stations to bring the number 40 by the end of this year. (Kao Hoon, 10/09/14)
Comment: If LPG prices fall then their quarterly profits take a hit, if LPG prices increase

STPI
STPI: 2014 net profit to reach a record high since the company was listed. Revenues are expected to exceed Bt10bn. It is also waiting on results for new work worth more than Bt40bn and is looking to acquire more land to help increase its factory capacity. (Kao Hoon, 10/09/14)

TICON
Ticon eyes REIT conversion – Ticon Management, a real estate investment trust (REIT) manager under Ticon Industrial Connection (TICON), plans to enlarge Ticon REIT’s (TREIT) asset size to Bt20bn in three to five years. TREIT, expected to go public in the final quarter with an asset size of Bt4-5bn, has a few options to increase its assets. It can acquire more assets from Ticon or others, or convert Ticon’s existing property funds, said Amorn Chulaluksananukul, Ticon Management’s managing director. (Bangkok Post, 10/09/14)
Comment: They should be the largest player in this, but capital constraints have prevented them from growing as quickly as they would like to.

TOG
TOG raises 2014 revenue target to Bt1.9bn or up 17% from its previous target of 9% due to softer baht, higher sales in products with high margins and more orders. It said that revenue will reach Bt2.5bn by 2019 as it continues to expand its market. (Kao Hoon, 10/09/14)
Comment: It’s the margin expansion in this wonderful little company that has driven the earnings and stock price in the past 2 years