AGE

AGE plans to generate 100MW from biomass power plant in 5 years. It expects to invest Bt7bn. Although revenue from the electricity business will be lower than from the coal business, net profit is expected to be similar. (Khao Hoon, 28/05/14)

Comment: Well they are going to have to raise debt to quite high levels if they want to pull this off, current equity levels are THB 1.3 bn and they only have some 9MW in the pipeline via a joint project 

AIE

AIE expects a better performance in 2Q14 supported by an increase in the palm oil proportion of biodiesel from 4% to 7%. It is confident that 2014 net profit will be better than 2013 and maintains its 2014 revenue target at Bt5.5. It expects to pay a dividend on 2014. (Khao Hoon, 28/05/14)

APCO

APCO adjusts revenue target to Bt500mn or +50% YoY from 20%YoY. Net profit is expected to grow more than revenue because it has increased its sales channels and has placed greater focus on high margin products. It expects a net profit margin of 35% in 2014 from 22% in 2013. (Khao Hoon, 28/05/14)

Comment: The numbers alone just look wonderful, it looks like they are a skin care product manufacturer.

BEC

BEC management admits to missing 2014 target because the slowed economy has cut into advertising expense. It will face losses from digital TV for the next 1-2 years. It hopes to see recovery in 2H14. (Tun Hoon, 28/05/14)

Comment: BEC is in a tough spot, no matter which way you look @ it they will have decreasing advertising revenue.

CPF

CPF aims to set up new sausage factory because it views AEC as a growth opportunity. It expects domestic growth of 10-15% YoY and sales of Bt8bn. (Khao Hoon, 28/05/14)

ILINK

ILINK projects 2014 net profit of Bt198mn with revenue of over Bt2.35bn thanks to good growth in network cabling system. It also has a large backlog for its engineering business. Its telecommunication business is supported by digital TV, while it will begin to book revenue from its datacenter business in 3Q14. (Khao Hoon, 28/05/14)

Comment: A wonderfully managed little business here

NOBLE

Private placement (PP) derailed because of the change in the political situation that has remove investor interest. A legal consultant said that raising capital is the only way to protect against a hostile takeover by a foreign nominee. The SET has told NOBLE that it is illegal to do a PP after many retail investors have filed suits with the court. (Bangkok Biz, 28/05/14)

Comment: I’m not too familiar with what is going on here, but I don’t believe it would be illegal for NOBLE to do a PP if 75% of shareholders approve it.

PTT

PTT delays unit listing – PTT Plc will postpone a listing for its power business arm Global Power Synergy Co (GPSC) to early next year, citing unfavorable market conditions at present. Next year will be the right time to list GPSC instead of this year’s third or fourth quarter as originally planned. (Bangkok Post, 28/05/14)

QLT

QLT maintains revenue growth target at 5-10% YoY. It aims to raise capital of Qualitech Myanmar Limited by Bt6mn to hire foreign specialists. (Khao Hoon, 28/05/14)

TVD

TVD expects sharp net profit growth, booking extra profit of Bt125mn. It maintains its 15% YoY revenue target to over Bt2.5bn. It aims to increase net profit margin to 4.5-5.5% and will conclude a plan to buy a service business overseas in 4Q14. (Khao Hoon, 28/05/14)

TWZ

TWZ to increase capital by 800mn shares to fund its telecommunications, property development and digital TV business. It has entered into agreements with three partners to be selling agents for its signal receiver, which it expects to provide 10% of revenue in 2014. (Thun Khao, 28/05/14)