AEC

Purchase of AAMC Asset Management approved — AEC says the shareholders approved the purchase of AAMC Asset Management Co., Ltd. It will take 90% for Bt28.12mn. The purchase is being made to expand the variety of the business it is engaged in and create growth opportunities. (Naew Na, 23/06/14)

Comment: The regulatory environment in Thailand requires all these silly licenses before any firm can manage funds on behalf of clients.

PCA

First day of trading. PCA is expected to close its IPO price of Bt2.8 to over Bt4. CEO Prapat says the company has strong fundamentals and high growth due to a fast change in technology. It expects revenue growth of 15-20% YoY and is ready to produce set-top boxes. (Khao Hoon, 23/06/14)

Comment: Well…it’s a small IPO, so the it’s the same story.

PPP

PPP has fundamental strength and low D/E, and is preparing to enter alternative energy. Suradej Boonyawatana aims to get into all forms of alternative energy and hopes to obtain a minimum of 30MW per deal in 2014. It expects to set up a joint venture with a foreigner to enter power plant business in Japan, Myanmar, and Laos. It says 2Q14 performance will be good and support 2014 revenue growth target of 10% YoY. It expects sharp growth in 2015. (Tun Hoon, 23/06/14)

Comment: This isn’t a surprise they had set up PP Wind Energy Co last year to explore this deal potential.

PS

PS raises revenue target to Bt45bn and expects presale of more than Bt45bn in 2014. It says profit in 1H14 increased more than 10% YoY. It has raised its projected new projects to 60 worth Bt50bn in 2014 from 50 earlier. (Khao Hoon, 23/06/14)

THAI

Prajin still at THAI — ACM Prajin will continue to act as the chairman of THAI board after the NCPO requested him not to resign. The company has large problems that need addressing. Its cabin factor declined to less than 60% in May. (Khao Hoon, 23/06/14)

THRE

THRE sets up project to support revenue and profit growth. It is cooperating with partners in the life insurance and non-life insurance areas to increase growth. It expects life insurance business growth of more than 20% YoY and non-life insurance growth of 14-15% YoY. (Prachachat Turakit, 23/06/14)

UMI

UMI is confident the property market will revive in 2H14 after rice farmers got their money and the government moves to invest in infrastructure projects, stimulating purchasing power. It expects to meet its 2014 revenue target of Bt4bn and will more focus on projects. (Khao Hoon, 23/06/14)