ANAN
ANAN expects 3Q14 earnings to be in the black from 3Q13 net loss of Bt96mn on booking revenue from a condo. The company is launching a new project worth Bt14.5bn, pushing backlog up from Bt17.5bn and generating revenue until 2016. It expects to reach its revenue target of Bt9bn as there is overwhelming demand. (Thun Hoon, 02/11/14)
Comment: I still rank this co as stupidly cheap, and should they be able to match everything that they plan to, then wow.

BBL
BBL revives Phnom Penh bank branch – Bangkok Bank (BBL) plans to resume its banking operations in Cambodia this year to capitalise on the growth potential of the frontier market. Thailand’s largest bank by assets has already won approval to reopen its Phnom Penh branch, said executive vice-president Chairit Anuchitworawong. (Bangkok Post, 02/11/14)

BCH
BCH expects 2H14 to recover due to high season and revenue from two new clinics in 3Q14. It is confident that revenue growth will be at least 15% YoY and expects better net margin from 2013. WMC net loss is declining as more foreign clients visit. (Thun Hoon, 02/11/14)
Comment: The WMC has been BCH’s biggest burden, being a drag on its earnings for years. Although I still think its a matter of time before WMC begins to profitable, if it happens by next year I wouldn’t be surprised.

BEC
NBTC lets Ch 3 stay on analogue – Viewers can continue enjoying analogue broadcasts by Channel 3 for free as usual in accordance with the National Council for Peace and Order’s (NCPO) May 24 announcement despite fierce protests by digital TV operators. The announcement said six analogue TV channels can continue airing on terrestrial, satellite and cable systems as usual. However, the National Broadcasting and Telecommunications Commission (NBTC) yesterday resolved not to extend free status for analogue TV channels after the 100-day extension period ended yesterday. (Bangkok Post, 02/11/14)

CHOW
Revenue from Japan this year boosts share prices — CHOW share priced surged on the good news that it will start booking revenues from its Japanese solar farm project in 4Q14. It JV with RATCH is expected to be concluded in September and the solar farm project by the end of this year. It maintains its 2014 revenue target at more than Bt5bn. (Kao Hoon, 02/11/14)
Comment: Lots of solar co’s in the news, just wait for next year when the EPC contractors are going to go gangbusters.

CNT
CNT expects revenue of Bt10bn in 2014 from Bt9bn in 2013 due to public investment. The company hopes to obtain new projects worth Bt3-4bn from the total of Bt6-8bn, bringing backlog up to Bt10bn. (Thun Hoon, 02/11/14)
Comment: CNT is one of the better mid-size construction co’s in Thailand and have rode the wave of expansion of the retailers expansion throughout the country.

JAS
JAS filing evidence — JAS is submitting documents in defense after a lawsuit by four banks asking for repayment of debt of Bt1.6bn. The company said the debt occurred when it was in rehabilitation; it also says three of the banks are not in the list. (Kao Hoon, 02/11/14)
Comment: I still think this is a house of cards, share buy back’s at 7–8 baht/share, stock price keeps falling, will they run out of $?

LDC
LDC to start trading today — Management expects share price to run up to Bt2/share, above its IPO price of Bt1.50/share. It said it is the only specialized dental service company on the mai. It will use the proceeds of Bt180mn to expand. (Kao Hoon, 02/11/14)

PAE
PAE says JV for alternative power with Korea will boost profit. It will set up a JV to bid for the double track railway line in 4Q14 to help raise backlog by Bt3bn and supply revenue in 2015. It expects to book in a turnaround in profit in 3Q14. It will add new work from IRPC worth Bt1bn to its backlog. Revenue for the year is expected to hit its target of 40%. (Thun Hoon, 02/11/14)
Comment: PAE has a storied history of potential turnarounds and but it has yet to be consistent hence the volatility in its stock price.

PTT
PTT bids for US$20bn Vietnam refinery – With PTT Plc’s businesses facing a major restructuring prescribed by the junta, the national energy flagship will submit a US$20bn oil refinery and petrochemical project proposal to the Vietnamese government in two weeks. (Bangkok Post, 02/11/14)

RICHY
RICHY says 2H14 will be better than 1H14 supported by 70-80% transfers for “Rich Park 2 @ Taopoon Interchange” worth Bt1.7bn in September. It is confident that revenue and net profit this year will be higher than last year’s. (Kao Hoon, 02/11/14)
Comment A small-sized prop developer, at times earnings will go through the roof with high YoY %’s

RS
RS mulling legal action against NBTC – RS Plc, the broadcast rights holder for the 2014 FIFA World Cup, may take legal action against the National Broadcasting and Telecommunications Commission (NBTC) if it has to take a cut in compensation for broadcasting all the matches on free TV. RS chief executive Surachai Chetchotisak said the company did not agree with the reduced compensation, as the amount would not cover its opportunity loss. (Bangkok Post, 02/11/14)
Comment: I wonder how they will provision this.

SCC, GLOBAL
SCG in B3.19bn drive to bolster regional presence – Siam Cement Group (SCG) has announced an investment of Bt3.19bn aimed at boosting revenue from high-value-added (HVA) products and expanding retail business in ASEAN in a bid to bolster its presence in the region. (Bangkok Post, 02/11/14)
Comment: Its a great long term plan for GLOBAL, but it will hurt its earnings over the next 12-24 months

SVI
SVI cut sales target to US$300mn in 2014, +15% YoY, as it is facing a problem sourcing raw materials. It has set a budget of US$100mn to acquire a medical equipment producer. (Kao Hoon, 02/11/14)
Comment: The company has tonnes of cash, no debt, constant earnings growth, but nothing out of this world relative to other electronic firms.

TICON
TICON revises down 2014 revenue target to close to last year’s, down from its initial target of 5% growth. However, it said 2H14 will be better, driven by Japanese SMEs. It expects to set up a REIT by this November. (Kao Hoon, 02/11/14)
Comment: The political issue has hurt every industrial real estate over the past 12 months, but by next year their numbers should improve as will every other player.

TMB
ING trying to sell its 30% stake in TMB to repay back its loan to the Netherlands government. It is currently waiting for approval from the new Finance Minister. It has been rumored that the selling price may be as high as Bt4.4/share or up to three times its book value. (Kao Hoon, 02/11/14)
Comment: It’s the same story rehashed over the past 4 years.

TRUE
TrueVisions seeks 5% growth – Pay TV operator TrueVisions plans to increase customers’ average spending per bill to Bt900 from Bt763 in a drive to maintain growth of 5% this year amid high competition from digital and pay TV rivals. The pay TV company has faced a decline in average spending per bill over the past five years from Bt806 in 2009 to Bt763 at the end of this year’s second quarter. (Bangkok Post, 02/11/14)

TSTH
New electric furnace gets tepid review – Steel firms are urging an Industry Ministry inquiry into induction steel furnaces over concerns about the quality of steel made using the new technology. Songsak Piyawannarat, vice-president for marketing and sales at Tata Steel (Thailand), said his company had doubts about whether the output of induction furnace technology was suitable for the structural steel used in buildings. (Bangkok Post, 02/11/14)

TVD
Says women love its “Genie Bra” line. It is confident that sales this year will hit Bt400mn, which will push its market share up to 3.5%. It aims to increase market share up to 10% over the next three years. It plans to continue introducing new promotions to boost sales. (Kao Hoon, 02/11/14)