AIT
AIT says 2014 revenue will touch Bt6.4-6.5bn, far exceeding its target of Bt6.2bn, as it has already booked Bt4.4bn in revenue in 1H14 and expects to book Bt2bn of the Bt2.8bn of the current backlog in 2H14. It is waiting for bid results on a project worth Bt930mn and plans to bid for more work worth Bt8bn. (Kao Hoon, 05/09/14)
Comment: Hands up, this company has proven me wrong, despite its huge increase in equity in 2013, they have been able to maintain their ROE’s at 30%.

AJD
AJD to benefit from the set-top box coupons. It expects to sell 2mn set-top boxes this year. However, share price retreat slightly after reaching a new high. (Bangkok Biz News, 05/11/14)

BJC
BJC expects to acquire METRO Vietnam within 1H15. It expects the Vietnam economy to improve soon and for the company being acquired to break even in 2-3 years. It plans a capital increase and expects that the majority of shareholders will exercise their rights. (Kao Hoon, 05/11/14)
Comment: You can look at this 2 ways, 1) Short/mid term massive dilution of earnings and the stock is worth nothing 2) A potentially clever LT play.

BWG
BWG wins deal for waste management after the NCPO said improvement in waste management will be on the national agenda. The company plans to expand fuel production by expanding into Phase 2 of its coal power plant. It expects the expansion will add 40-50% to revenue. It has set a net profit target of Bt268mn this year. (Thun Hoon, 05/11/14)
Comment: I’ve often wondered when this firm would finally be recognised, although I know its been a target of speculators far too often.

DCON
Large capital equity group looking to acquire a project from DCON worth Bt700mn. Conclusion is expected to be reached by 4Q14. The sale will help drive profit. DCON’s management said that state funding of infrastructure projects will help keep the contractor sector active. It is confident that revenue this year will exceed its target of Bt1.6bn, supported by its high backlog and lineup of work. (Thun Hoon, 05/11/14)
Comment: Loved DCON and its W1 earlier in the year, now I’m out b/c the main story was revolving around its condominium projects being transferred in 2015 (not their core biz)

GLOBAL
JV okayed — Management reports that its board has given the green light for the 50:50 joint venture with SCG Distribution, a subsidiary of SCC. GLOBAL will invest Bt200mn and SCG Distribution will put in another Bt200mn. (Post Today, 05/11/14)
Comment: Similar to BJC

KBS
Flat growth YoY — KBS said revenue and net profit this year will be close to last year’s since it will delay the sale of electricity from its power plant to next year, cutting 2014 revenue by Bt300mn and net profit by Bt120mn. Global sugar prices have fallen due to oversupply in the market, but it expects oil price will be at its lowest in September. Mitsui Group has exercised its warrants, increasing its holding to 16.7%. (Bangkok Biz News, 05/11/14)

KCM
Financial advisor selected — KCM said it has appointed Asset Pro Management Co., Ltd as its financial advisor to prepare for listing on mai. It plans to offer 200 million shares in the IPO. (Naew Na, 05/11/14)
Comment: If Asset Pro is behind this then you know that 1) It’s a pretty decent co 2) The stock price will do well on its first day.

TRC
TRC expects good 3Q14, supported by revenue from its gas project in Saraburi-Nakorn Ratchasima. It maintains its 2014 revenue target at Bt4-5bn and said that more than Bt4.8bn in backlog is waiting to be realized. It will also bid for new projects valued at a total of Bt15bn. (Kao Hoon, 05/11/14)
Comment: They have always been able to win projects from PTT Group

TRUE
TRUE to expand into state enterprise and SME segment. It aims to have the #1 market share by the end of this year. It has set a revenue target of Bt2bn, up more than 30% YoY. (Thai Post, 05/11/14)

TUF
TUF lands France’s MerAlliance – Thai Union Frozen Products Plc (TUF), the world’s leading frozen seafood producer, expects to acquire several foreign frozen seafood producers this year after agreeing to buy out France’s leading smoked salmon producer MerAlliance in a deal worth hundreds of millions of US dollars. (Bangkok Post, 05/11/14)