AJP

Moved to mai — AJP was moved to the mai market yesterday. The company’s share price surged an astonishing Bt17.57 to close at Bt17.80, a rise of 7,639.13%. In 2010, shares were trading at only Bt1.10/share. In yesterday’s trading, shares were trading the highest and lowest at Bt17.80 and Bt9.85/share, respectively, with a high trading volume of Bt2.964bn. (Khao Hoon, 12/09/13)

Comment: Friends had been asking me about all this yesterday, hardly anyway to participate unless you’re friend of the owners and bought shares pre the company returning to the MAI

IVL

Still expects 15% revenue growth this year — IVL is standing by its target revenue growth of 15% this year as it expects revenues to reach US$7.8bn supported by better PET-PTA spreads in the second half of the year. The company is hurrying to improve its factories as it hopes to push its capacity to a maximum level. (Khao Hoon, 12/09/13)

Comment: Its a margin game for IVL, they have done a good job, I believe, of going in and buying factories/companies around the world when the margin’s were low and they were suffering, once the industry begins to appreciate again this company will do very very well.

NOK

Nok Air to lease four jetliners next year – The budget carrier Nok Air has decided to lease an initial four jetliners early next year ahead of a comprehensive aircraft purchase plan. The airline listed on the Stock Exchange of Thailand (SET) in June, mobilizing Bt3.1bn it plans to use to nearly double its fleet to 30 by 2015 from 16 now. Passenger numbers are expected to reach 14mn annually in 2017. (Bangkok Post, 12/09/13)

Comment: Love the fact it is leasing versus buying planes

PTT

PTT to reduce Star Petroleum stake in IPO – PTT Plc plans to dilute its 36% shareholding in the affiliate Star Petroleum Refining Co (SPRC) through an initial public offering. Chief executive Pailin Chuchottaworn said SPRC will list on the Stock Exchange of Thailand by mid-2014. The move is in response to criticism over its grip on the country’s oil refinery industry. (Bangkok Post, 12/09/13)

TRC

Bidding delays lead to cut in target — TRC has slashed its revenue target for the year to Bt3-3.5bn due to delays in bidding for new projects. The company expects the results of a job for PTT worth US$260mn in October and also Bt22bn worth of potential projects. (Khao Hoon, 12/09/13)

Comment: Herein lies the issue with projects, there are always delays, the stock runs up on bidding and backlog news and then disappoints once delays appear

UAC

Looking at good 2H13 — UAC expects a strong performance in the second half supported by the booking of revenues of Bt120mn from the PPP project. Revenues for 2013 are expected to grow by 20-30%. The company is accelerating the construction of its two CBG plants as it aims to have 20 CBG plants by 2015. (Khao Hoon, 12/09/13)

UMI

Making plans for AEC — UMI proposed to its board some plans preparing for the AEC; it believes its new business plans will help push revenue growth up to 20-25% from its current 10%. Management signaled for strong 3Q13 earnings, supported by revenues from TTC and RCI. (Tun Hoon, 12/09/13)