AIRA
Board approves capital increase of 3.16bn shares to be offered at rights of 5 old shares to 2 new shares for Bt1/share plus AIRA-W1 and AIRA-W2. 1Q15 earnings showed a profit of Bt13mn compared to 1Q14 loss of Bt31mn. (Thun Hoon, 18/05/15)

AOT
AOT reported 2Q15 net profit of Bt4.8bn (+32.36% YoY) benefitting from political calm that has brought tourists back. (Khao Hoon, 18/05/15)
Comment: AOT’s #’s still continue to outperform most people’s expectations, this country is just incredibly blessed by its ability to bring in tourists plus the fact that Chinese tourists are visiting Thailand more and more only help.

ASIMAR
Interest shown in JV; deal expected to be finalized soon. ASIMAR will spend Bt1bn to raise capacity to handle jobs in Myanmar and for the Port Authority of Thailand. (Thun Hoon, 18/05/15)

BSM
1Q15 earnings grew 60% to Bt6.8bn and revenue rose 7% to Bt134mn. BSM targets revenue growth of 20% in this year and plans to increase market share abroad. (Khao Hoon, 18/05/15)
Comment: Quite the typo from the news outlets, earnings was 6.8 mn not bn, I’ve always thought highly of management here but not of its valuations, nuts!

COLOR
1Q15 earnings surged 300% YoY on effective cost control. It confirms that performance will turn around this year with 4-5% revenue growth. It plans to increase revenue from abroad from 19% to 21% of total sales. (Thun Hoon, 18/05/15)

EA
1Q15 earnings grew 26% to Bt579mn. 2Q15 will continue to trend up backed by revenue from the solar power plant at Lampang and continued growth in biodiesel. (Khao Hoon, 18/05/15)
Comment: The growth in EA is well known and documented, just have a look at their latest IR presentation to understand it.

EVER
EVER plans to invest in hospital business via JV. It expects this business to have an advantage from AEC because of increasing patients. (Thun Hoon, 18/05/15)
Comment: Quite interesting, a mini BDMS in the making?

GCAP
GCAP announced 1Q15 earnings of Bt17.37mn (9% growth) from last year’s Bt15.97. The MD says the firm plans to introduce new loans in order to meet client needs. (Thun Hoon, 18/05/15)

GENCO
GENCO welcomes acquisition of its shares by SUPER and TFD via PP, 16.296% each, as it will supply the funding for an investment in waste power plant. SUPER will pay Bt700mn for GENCO stocks on March 5, 2016. (Thun Hoon, 18/05/15)
Comment: Interesting how this merger has come about, will have to do some reading into it.

ILINK
1Q15 earnings reached Bt110.82mn (+118.19% YoY) from 1Q14’s Bt50.79mn. Total revenue grew 54.52% to Bt964.41mn from 1Q14’s Bt624.13mn. (Khao Hoon, 18/05/15)
Comment: I’ve liked ILINK since I first saw them in 2005 and they’ve been one of the beneficiaries of Thailand’s continually growing need for IT infrastructure.

LALIN
LALIN prepared to launch two projects in 2Q15 after good response to its first project, Lanceo CRIB Rayong. It plans to launch 8-10 projects worth Bt4bn this year. (Khao Hoon, 18/05/15)

MTLS
MTLS was selected to be included in MSCI Global Small Cap, effective on May 29. This may lead local and foreign investors to overweight this stock. Management says the firm was selected because it has strong fundamentals which are leading to gradual growth. (ASTV, 18/05/15)

PS
PS is confident in stable growth in 2Q15 earnings. It will launch 11-13 projects worth Bt9-11bn. It targets 2015 sales at Bt47bn, aided by the interest rate cuts. (Khao Hoon, 18/05/15)

PTTGC
2Q15 earnings will be better than 1Q15 backed by increasing oil price and thus prices for its products. PTTGC plans to invest US$5.7bn in a project in the US. Conclusion is expected in the second half of the year. (Khao Hoon, 18/05/15)
Comment: They appear to be a capacity expansion, should it be similar in volume to what they did in 2010 don’t be surprised to see strong upside.

SYNTEC
2015 net profit expected to be its highest (+39% YoY). SYNTEC has extra items that will be booked as extra gain. It is preparing to bid for projects worth Bt14.9bn (Thun Hoon, 18/05/15)
Comment: A smaller construction player that has performed consistently over the past few years with management continually buying shares.

TUF
1Q15 profit was Bt1.507bn (58.7% growth) backed by FX gain and revenue from MerAlliance, King Oscar, and Orion. TUF expects revenue of US$5bn this year. (Khao Hoon, 18/05/15)

TWZ
1Q15 earnings surged 240% from last year supported by Bt48mn in revenue from its property business. TWZ shareholders approved a capital increase. TWZ plans to expand its market into Laos and Myanmar using cash from the capital increase. (Thun Hoon, 18/05/15)