AIT
AIT sets a revenue growth target at 10% to Bt6.8bn with backlog on hand of Bt2bn. The firm also has potential projects of Bt10bn that will come up for bidding this year. (Khao Hoon, 19/02/15)
Comment: This company still continues to confound me with its consistent growth, with its capital increase 2 years ago, they are still able to maintain a damn consistent growth path. Well done to management.

AOT
Board says ‘no’ to infrastructure fund — AOT’s board decided not to set up an infrastructure fund to raise money for the second phase at Suvarnabhumi, saying the cost of setting up the infrastructure fund is high and the firm still has ample liquidity. AOT will reduce the cost of the project to Bt61.7bn from Bt62.5bn (Khao Hoon, 19/02/15)
Comment: Would you believe that this stock price is up 10x in the past 4/5 years? Actually a clever decision on the part of the board (a first!), they do have some THB 44 bn in cash on the balance sheet, so well done to them in actually choosing the correct path.

BEAUTY
BEAUTY expects strong 1Q15 compared with 1Q14 as they see rising demand following the political unrest last year. The firm is set to open about 15 new shops in CLMV countries. (Khao Hoon, 19/02/15)

CKP
In 2015, CKP will focus on efficiency of the power plant by cutting some costs to boost profit. The firm also expects to buy 30% in Xayabui power plant to lift production capacity to 2,160 MW. (Thun Hoon, 19/02/15)

EA
Lampang up and running — EA reports that its 90MW solar power plant in Lampang started commercial operations on February 17. The company expects incremental revenue of Bt1.9bn in 2015 from this solar power plant. For the whole of 2015, earnings are likely to be at a record level driven by the recognition of three power plants with total capacity of 188MW. (Khao Hoon, 19/02/15)
Comment: There aren’t any new surprises to be expected from EA, we all know the amount of capacity that they have on hand and how much is expected to be realised from each project. The only upside here can come from the acquisition of existing projects or from bidding of new projects.

GENCO
Teaming up to build plans in Thailand and Laos — GENCO will team up with foreign partners to build waste power plants in both Thailand and Laos. The firm is also confident about the earnings growth outlook in 2015 as it is booking revenue from sale of property and will have cash of Bt2.3bn from the PP. (Thun Hoon, 19/02/15)

KTC
KTC impressed with financial performance in 2014 with the revenue growth of 10% to Bt14.3bn and earnings of Bt1.7bn. It expects another 10-15% revenue growth in 2015 as it plans to issue more credit cards in the provinces. (Thun Hoon, 19/02/15)
Comment: It’s just impressive what this company has achieved in such a commoditised market.

MAJOR
MAJOR expects the ad revenue growth of 10% in 2015, moving in the opposite direction with ad spend for the industry as a whole. This will be driven by a strong movie line-up and marketing campaigns such as providing marketing events for clients. (Thun Hoon, 19/02/15)

PTT
PTT says PTTEP’s credit rating won’t be downgraded as PTTEP’s financial status remains solid and strong. PTT also revealed that the deal to divest 12% stake in BCP will be completed within 1Q15. (Krungthep Thurakij, 18/02/15)

PS
PS expects good growth in 2015 — After a record year in 2014, PS hopes to boost revenue to Bt47bn in 2015, up from Bt38bn. The firm has set aside a budget of Bt14bn to buy land to launch new projects. (Khao Hoon, 19/02/15)

SAT
SAT expect 9% revenue growth in 2015, up from its original target of 7%, driven by recovery in the domestic market and more penetration into neighboring countries. (Thun Hoon, 19/02/15)

SUPER
SUPER will ask for board approval to split par from Bt1/share to Bt0.1/share and to issue shares for PP and PO to get cash of Bt6.7bn. The cash will be used to build solar power plants with expected capacity of 400MW in 2015. (Thun Hoon, 19/02/15)

TIPCO
TIPCO expects revenue of Bt6.5bn, in the high range compared with historical level. This is underpinned by strong demand from Europe and ASEAN. (Khao Hoon, 18/02/15)