ADVANC

ADVANC reports 1Q14 net profit of Bt9.48bn, -4.5% QoQ, because revenue decreased while amortization expense increased. It has now 26mn 3G subscribers. (Khao Hoon, 07/05/14)

AOT

Minimal impact from earthquake at Chiang Rai Airport — AOT says there was little damage to the Chiang Rai airport from the earthquake and operations are normal. The Minister of Transport went to check the area after several aftershocks. He forbade the use of the aerobridge and also set up an evacuation route. (Khao Hoon, 07/05/14)

CENTEL

No problems from the earthquake — CENTEL said that the earthquake has not affected its hotel operations in the North. It still expects revenues this year to hit Bt19bn driven by continual growth in hotel and food business segments. (Tun Hoon, 07/05/14)

CPN

CPN says 1Q14 net profit up due to higher revenue from provincial hotels. It also expects high record net profit in 2Q14 because of Bt5bn extra revenue from asset sale to CPNRF and recovery of Central World’s operation. It will invest Bt15bn to set up a new department store and expects revenue growth of 15% YoY in 2014. (Khao Hoon, 07/05/14)

Comment: A machine that keeps growing.

HMPRO

Two new branches — HMPRO said it will invest Bt850mn to open two new branches in Surin and Prachuab Khiri Kan. (Khao Hoon, 07/05/14)

IRPC

1Q14 profit at Bt343mn, supported by better gross margin and accounting GIM at US$8.50, which helped increase the proportion of domestic oil sales to 23K barrels/day. (Khao Hoon, 07/05/14)

Comment: Not often I’ll say it, but THE WORST energy/petro co in Thailand

KBANK

KBANK to aggressively sell bancassurance in hopes to increase fees. It targets a sales increase of 30% this year, targeting corporate employees. Non-fee revenues for 1Q14 increased by 19.13% YoY. (Khao Hoon, 07/05/14)

KCE

KCE reports 1Q14 revenues of Bt2.77bn, a 38.3% increase YoY, with net profit if Bt439.4mn, up 61.6% YoY, supported by steady demand from automotive companies. (Khao Hoon, 07/05/14)

MODERN

MODERN said 2Q14 will be strong driven by extra gains worth Bt300mn from the sale of MFEC. It is confident that revenues this year will grow by more than 10%, standing above Bt4bn. Recently it launched the Modernform M Space. (Khao Hoon, 07/05/14)

Comment: MODERN’s growth in the past 10 years has been noteworthy on the back of the increase in property and offices, however the lull in the market will definitely hurt them in 1H14.

PSL

PSL expects decreasing freight rate in 2Q14 due to slowed purchasing power in China. It will receive five additional ships in 2014, supporting revenue growth. (Khao Hoon, 07/05/14)

Comment: PSL is the best shipping in Thailand and dare I say in the region as well because of the way its managed, if you look over the past decade they have managed the cyclical nature of the industry incredibly well.

SNC

SNC increases revenue target to 15% YoY from 10% YoY because revenue generated from JV with Japanese SME will contribute in 2014. It is finding another partner and probably will move its production base overseas following its clients. (Khao Hoon, 07/05/14)