AOT
AoT says no to foreign ventures – The long-mooted plan by the Airports of Thailand Plc (AoT) to compete for contracts to operate airports abroad is no longer on the radar screen. Chairman Prasong Poontaneathas made it clear that the current major upgrades of three of the six airports under AoT’s control – Suvarnabhumi, Don Mueang and Phuket – are its prime focus and keeping it busy. (Bangkok Post, 25/09/14)
Comment: That’s because they won’t know how to operate outside a monopoly, if they ever open up management for the thai airports, you can be certain that AOT would lose to whoever manages HK’s, Singapore’s, Dubai’s airports

APURE
APURE says 2H14 revenue will be stronger than 1H14’s Bt601mn, driven by orders from abroad, the softer baht and its strategy to expand up margin to 15%. It said it is in talks for a big lot work valued at more than a Bt1bn. (Thun Hoon, 25/09/14)

CHO
CHO says 3Q14 earnings will surge after it booked orders from abroad worth Bt100mn. It confirms its revenue growth target of 15% YoY and said that both local and foreign funds have shown interest in investing in the company. (Kao Hoon, 25/09/14)

CRANE
CRANE expects higher revenue in 2H14 from 1H14’s Bt734.6mn as its operating leases have increased. The company expects a record-high net profit in 2014 after Bt184.7mn net profit in 1H14, due to greater activity in the contractor business. It is preparing Bt200mn to expand capacity of operating leases by 10% to serve high demand. (Thun Hoon, 25/09/14)
Comment: We’ve always liked CRANE’s business model, there is, or should I now say, was hidden value in its assets, so that whenever they would sell their existing portfolio of cranes earnings would’ve jumped in the past.

HEMRAJ
Hemaraj has faith in new government – Hemaraj Land and Development Plc, a SET-listed industrial estate developer, expects a jump in land sales in the second half that would put its full-year target in reach, says the company’s founder. Sawasdi Horrungruang, also an executive director of the company, said the newly minted Thai government had reassured foreign investors and improved the investment climate after a difficult first half. (Bangkok Post, 25/09/14)
Comment: HEMRAJ is becoming more and more of a power play, look at its expansion with GLOW for the Gheco-ONE project and now into the SPP’s, they’ve done a great job in diversifying away into energy.

IFEC
IFEC to lead in renewable energy production. Management expects to invest Bt10mn to acquire and construct power plants with net profit of Bt10mn/MW. The company expects net profit of Bt400mn and to invest in 300MW in additional power plants in 2015, bringing total capacity to 600MW in 2017. It is adjusting into a holding company and will change sectors in late 2014. (Thun Hoon, 25/09/14)
Comment: Such a POS, lets see if it happens.

KCM
To list on mai in 4Q14 — KCM, a metal sheet producer and owner of the Rod Tung brand, is filing to list on mai. It plans to issue 200mn IPO shares. It hopes to trade on mai in 4Q14. The funds it raises will be used to add new branches. (Kao Hoon, 25/09/14)

LOXLEY
Capital increase — LOXLEY is selling 165mn new common shares priced at Bt4.05 and 66.25mn LOXLEY-W1 with 3-year maturity to the public during 24-26 September. It expects to raise Bt650mn, of which Bt400mn will be invested at home and abroad. The new shares are expected to trade next week. (Kao Hoon, 25/09/14)

PHOL
PHOL expects 10-15% growth in 2014 revenue, with 2H14 stronger than 1H14. As for the project to install the provincial water system, it said that it is currently studying the regulations. It maintains its plan to invest in a water concession for five years and has budgeted Bt1bn for this. (Kao Hoon, 25/09/14)

QLT
QLT waiting for bid results for work in Myanmar. It expects to know the results by 4Q14. It said that domestic businesses are still growing well and should help push revenue this year up by 5-10%. It plans to invest Bt40mn in new equipment. (Kao Hoon, 25/09/14)

RS
RS appoints Suphachai Ninlawan as a senior vice president. He will manage the music business. He plans to use a strategy that produces suitable content to serve client demand. (Kao Hoon, 25/09/14)

SIRI
Presales for non-Thai exceed Bt8.5bn. In 8M14, the company recorded Bt585mn in presales from foreigners, up 460% YoY. It believes that it will reach its foreigner presales target of Bt1.1bn. (Kao Hoon, 25/09/14)

SPCG
SPCG signs MOU with TFD to invest Bt300mn in a 5MW solar rooftop project. It expects to start booking revenues in 2015. Revenue next year is expected to grow at least 10% from this year’s estimates of Bt4bn. (Kao Hoon, 25/09/14)
Comment: The business case for SPCG is straightforward 1) Has 260 MW’s of solar farms up n running, 2) Will sell solar cells via HMPRO (@ a great margin) 3) Begin a manufacturing facility to supply all these sales 4) Put solar roof cells on the top of any factory/warehouse/housing development partner that it can find.

TVD
TVD expect 2014 revenue to exceed target of Bt2.5bn supported by foreign partners and projects abroad. TVD’s shareholders have approved an interim cash dividend of Bt0.02/share plus a stock dividend of 1:0.38 (existing: new) share. (Kao Hoon, 25/09/14)
Comment: Meeting them next week to see what’s happening there.

UNIQ
UNIQ sells new common shares to 18 institutional investors and also sold 14mn shares to four big retail investors in the Chirathivat and Anantaprayoon family. The company aims to use the funds for working capital and support business growth. (Kao Hoon, 25/09/14)
Comment: Great news for UNIQ, now they have the necessary scale/size to bid for larger projects