ADVANC
ADVANC ready to bid for any license and on any spectrum available. The firm says the increase in small cells means its network capacity can serve up to 50mn subscribers. Currently, ADVANC has about 44.3mn subs. The firm has launched a new service so called “Beat Banking” to drive data growth this year. (Kao Hoon, 24/03/15)
Comment: Should 4G actually go ahead, every analyst is projecting that both ADVANC and DTAC will grow 20% p.a. again.

AQ
AQ board approves capital increase of Bt7bn through rights offering, private placement and reserve for exercise of warrants. It will actively acquire land bank for condo development near mass transit worth Bt3bn. It will enter into a joint venture for a high-return project. (Kao Hoon, 24/03/15)
Comment: The supposed turnaround is requiring far more capital than management initially thought

BANPU/CSS
CSS to sell solar farm contract in Japan to BANPU, and expects some gains. It will adjust its portfolio with more investment in energy projects in Thailand, with lower risk and investment costs. (Kao Hoon, 24/03/15)

CHG
CHG expects earnings this year to grow more than 10%, with target revenue growth at 20%. It will invest Bt550mn in 2015, expanding bed capacity. It is looking for acquisition of new hospitals. (Kao Hoon, 24/03/15)

DCC
DCC expects net profit growth in double digit this year, from the rise in gross margin to 41% from 39% last year. It says that sales in 1Q15 have grown YoY. It plans to expand overseas to raise the portion of revenue from overseas to 6-7%. It is talking with a partner in Laos to be its ceramic tile selling agent. (Than Hoon, 24/03/15)
Comment: The improvement in net profit growth from DCC is not from top line, purely from the costs that have declined as a result of the oil price decline.

EPG
EPG expects strong earnings in 4QFY15 (Jan – Mar 15) backed by windfall from falling oil price leading to a fatter margin. It expects revenues at Bt8.0bn in FY2015 and will invest Bt2.4bn for overseas business expansion. (Than Hoon, 24/03/15)

KKP
KKP targets housing loans to expand by 10-15% in 2015, equivalent to residential property industry growth. It expects more government investment to stimulate recovery in its loans. (Kao Hoon, 24/03/15)

PLAT
Today is the first trading day for PLAT. Its IPO price was Bt7.40. Management expects revenue and earnings to show long-term improvement, backed by its expansion over the next five years. (Kao Hoon, 24/03/15)
Comment: Not a great first day for PLAT with the stock price declining to 6.5

SAWAD
BoT approved the first Nano Finance licenses for SAWAD with the ceiling interest rate at 36% p.a. This will help to support its earnings to reach its target of Bt9bn. (Kao Hoon, 24/03/15)
Comment: If you think about the risks associated to nano finance, this ceiling doesn’t make it “that” attractive

SENA
SENA expects its revenue will reach Bt3bn this year. It will launch 11 projects worth Bt10bn and expects presales of Bt4.5bn this year. Also, it will expand customer base in the B+ segment. (Kao Hoon, 24/03/15)

SOLAR
SOLAR plans to raise capital by issuing 49.5mn new shares to existing shareholders with rights at a ratio of 10 current shares to one new share at the price of Bt12/share. The proceeds will be used for business expansion and investment in solar energy. The firm will submit the proposal to the board on April 30. (Kao Hoon, 24/03/15)

SPALI
SPALI says deed transfers will double YoY in 1H15. Its revenue was Bt5.7bn in 1H14. It has backlog of Bt38.7bn, of which Bt22bn will be recognized as revenue this year. It will launch 28 projects worth Bt31.1bn this year. (Kao Hoon, 24/03/15)

TPCH
TPCH believes it will get PPA this year to reach its target 150MW. It expects the Mae Wong Energy project to sell power in 2Q15. It also plans to co-invest in 40MW from water power projects. It expects earnings this year to double YoY. (Kao Hoon, 24/03/15)

TRC
TRC targets 2015 revenue ofBt3.9bn, with existing backlog at Bt7bn. It will bid for new projects worth Bt60bn and targets raising its holding in the potash mine to 25%. (Kao Hoon, 24/03/15)
Comment: Again the value here is in the potash mine holding

TTCL
TTCL has been awarded Bt7.3bn seawater reverse osmosis project in Qatar and has a chance to win 1,280MW coal power plant project in Laos in 2Q15. (Than Hoon, 24/03/15)