AJD
Technical trend signals new high at Bt14/share on the news that its sales of the set-top box will increase with the coupon to be distributed soon. It expects revenues to reach Bt16.5bn. The management said it is considering partnering with a Chinese company to set up a subsidiary for a solar farm project. It says profit will continue to grow and 4Q14 will be strong. (Thun Hoon, 03/10/14)
Comment: Another player moving into solar, overcrowded space or is there more than enough room for all these players?

CPF
CPF plans to acquire firms worldwide to provide business growth. Management has approved 3-4 acquisition deals in the US, Russia, and EU, to take place early in 2015. The company expects revenue growth of 10% p.a. from the acquisition strategy and from a greater focus on ready-to-eat food. It will increase the proportion of its investment overseas to 70% from 58%. (Thun Hoon, 03/10/14)
Comment: I’ve liked to call CPF the B Grade version of TUF (similar to CENTEL being the B grade version of MINT)

JMART
JMART expects revenue and net profit growth of 15% YoY in 2014 and its 4Q14 performance will peak due to high season. It will be supported by Thailand Mobile Expo 2014 Showcase, which is expected to generate revenue of Bt60mn. The company is ready to increase branches at home and overseas. (Thun Hoon, 03/10/14)
Comment: JMART’s bottom line growth will mainly come from its subsidiaries JMT and JAS Asset now versus just mobile phone sales.

NOK
Nok Mini flies the coop – Nok Air has opted to terminate Nok Mini, a sub-brand used by its now-defunct associate airline, Siam General Aviation (SGA), to pursue a single-brand strategy. The SET-listed budget airline will not carry the name Nok Mini over to its rebuild of commuter services featuring six Canadian-made Bombardier Q400 NextGen turboprops. (Bangkok Post, 03/10/14)

PS
PS reaches new high for presales at Bt13.3bn in 3Q14 bringing 9M14 presales to Bt31.3bn. It expects 3Q14 revenue growth QoQ to a 3-year high. The company continues to add new projects. (Thun Hoon, 03/10/14)
Comment: The market leading property company in Thailand today, they have consistently beaten all their targets since their IPO years ago.

ROJNA
ROJNA said that 3Q14 will be strong driven by transfers of 2,000 rai of land worth more than Bt4bn. It will start booking Bt700mn/month from its power plant. It is confident that revenue this year will reach Bt10bn. It plans to increase capital to buy more shares in TICON to raise its holdings from the current 26% to 49%. (Kao Hoon, 03/10/14)
Comment: Heard a good comment about Rojana today, why is the struggling parent buying the healthy child? Will they try and take it over?

SAPPE
SAPPE Indonesian subsidiary increases capital by Bt224mn. The proceeds will be used to expand its fruit juice production in Indonesia further. (Kao Hoon, 03/10/14)
Comment: Ichi part deux?

SIM, DIMET
SIM agrees to sell mobile handsets to DTAC for Bt637.5mn. On a separate news, DIMET said that it has no idea why its share prices surged. (Kao Hoon, 03/10/14)

SMART
Hit ceiling on first day — On its first day of trading, SMART share price surged to its ceiling price of Bt5.70/share before closing at Bt5.10/share, up 168% from its IPO price of Bt1.90/share. The company said that the run in share price was attributed to the company’s strong fundamentals and business growth on demand for lightweight concrete block. (Kao Hoon, 03/10/14)
Comment: No surprise here, small IPO good first day pop

TCMC
TCMC negotiating to acquire large domestic firm and expects to expand to AEC. Management reports that the company has gotten orders from clients in the Middle East, the US, and the EU. Its business is supported by expansion into hotel and modern trade. It is preparing to list subsidiary TCH in the future and expects sharp net profit growth in 2015. (Thun Hoon, 03/10/14)

THAI
Thai Smile still at Don Muang — Thai Airways International lowered its available seat kilometres (ASK), a measure of passenger-carrying capacity, in August because of declining numbers of passengers at Suvarnabhumi Airport, while its cabin factor dropped by 2.5 percentage points compared with the same month last year. THAI’s board of directors also approved 10 new management appointments, including in investor relations, technical support, safety, audit, and finance. The appointments were effective on October 1. The airline also announced THAI Smile’s operational plans for both Don Mueang and Suvarnabhumi airports for the 2014-15 winter traffic schedule, which starts on October 26. (Nation, 03/10/14))

VPO
Filing for 236mn IPO shares sale approved by SEC. The company says it has solid fundamentals as it is a large palm oil producer. (Kao Hoon, 03/10/14)
Comment: We have a tonne of IPO’s still to come out this year, not sure on the size of this although I’ve heard its the largest palm oil producer in terms of crushing capacity.