AJP

New management team soon — AJP reports that a new management team will begin work in 1Q14, replacing the team that resigned. It says the change in management will not lead to a change in strategies. It said the political situation has no effect on operations. (Khao Hoon, 17/12/13)

AOT

AOT expects net profits for 2014 to reach Bt11bn with passenger growth of 6-7%, however next year there will be no extraordinary income. Management says that passengers have contracted by 2.9% due to ongoing politics. The CFO reports strong cash flow at Bt43bn. (Khao Hoon, 17/102/13)

Comment: There are a couple of things going on here with AOT, they look to be expanding their capacity by 2017, China and Thailand travellers no longer require a visa in 2014, but in the ST the stop in zero-dollar tours and politics have hurt performance slightly (i.e. not growing as fast)

AP

Setting up JV with Japanese property company — AP will set up a joint venture worth Bt7.5bn with Mitsubishi Estate Group, a large Japanese property company, to build three new condos in 2H14. (Khao Hoon, 17/12/13)

Comment: Clever move by AP, they need to minimise the risk on their balance sheet given the number of projects that they have to transfer within the next 12 months

CPALL

CP Lotus-Wumart deal flops – Wumart Stores Inc, the Chinese supermarket operator, said plans to buy stores from CP Lotus Corporation will not proceed, two months after both companies announced the deal. Despite extensive negotiations in good faith, CP Lotus and Wumart were not able to make sufficient progress in reaching agreement on certain key terms for the proposed transactions, CP Lotus said yesterday. (Bangkok Post, 17/12/13)

Comment: Will this hurt the groups cashflow?

CPTGF

CPTGF property fund falls below IPO price – CP Tower Growth Leasehold Property Fund (CPTGF) fell 8.37% below its initial public offering price (IPO) on its debut yesterday, a fresh sign that indicates falling investment demand amid lingering political tensions and the US Federal Reserve’s potential asset purchase pullback. (Bangkok Post, 17/12/13)

Comment: hahahahahaha, no bkk post its not a fresh sign of falling investment demand, it’s a leasehold that sales people have been forced to push onto their clients…

HEMRAJ

HEMRAJ to book profits of more than Bt1.1bn in 1Q14 from the sale of Bt4.7bn in assets into its new property fund after the SEC has approved the fund. HEMRAJ will hold 23.13% in the property fund and it expects the units to start trading at the beginning of February 2014. (Khao Hoon, 17/12/13)

Comment: I’ve said it time and time again, by far the best industrial estate company in Thailand, it’s a far better pick than AMATA any day b/c look it has steady land sales, a multiple number of locations, it has the utility earnings, and now a property fund too.

PTTGC

PTTGC needs third partner – A third partner will be sought next year for a joint venture of SET-listed PTT Global Chemical Plc (PTTGC) and Indonesia’s Pertamina in building an olefin cracker on Java as part of their US$4bn petrochemical complex. Pertamina (Persero), the Indonesian national energy company, and PTTGC signed a marketing and trading agreement yesterday to merge and expand their petrochemical sales in Indonesia. (Bangkok Post, 17/12/13)

SCC

Taking 30% in JV with Nippon — SCC will invest Bt5bn to take 30% in a joint venture with Nippon. The joint venture will support its paper business. It is now being constructed at a cost of Bt2.2bn, with 43 thousand tons capacity. (Khao Hoon, 17/12/13)