AOT
AoT board approves Bt48bn for airport revamp projects – The Airports of Thailand’s (AoT) board has approved a Bt47.9bn budget to build a new terminal and a new runway at Suvarnabhumi airport to ease congestion. (Kao Hoon, 22/01/15)
Comment: AOT’s latest passenger numbers have come out and Bangkok is performing horribly while the rest of the country is booming.

BECL/BMCL/CK BECL to sell BMCL shares to CK — BECL’s board of directors has approved the sale of 2,050,134,895 BMCL ordinary shares, representing 10% of the total number of BMCL shares, at a price of Bt1.79/share for a total transaction price of ~Bt3.67bn, to CH.Karnchang (CK). The deal will be put to the shareholders for approval at the AGM. (SET, 21/01/15)
Comment: This is a clever financial engineering move by CK.

BMCL board approves merging with BECL — BMCL’s board of directors has approved the amalgamation between BMCL and BECL to synergize the strengths of both, enabling them to offer a greater variety of services, increasing competitive ability and enhancing the image of the company’s securities. Shares in the new company (“MergedCo”) will be offered to BMCL and BECL BECL shareholders at the ratio of 1 existing BMCL share to 0.42050530 shares in MergedCo; 1 existing BECL share to 8.65537841 shares in MergedCo. (SET, 21/01/15)

CCP
CCP hurrying to close the JV deal with its foreign partner in hopes the new business will lift overall revenue by 30% from big projects in from the public and private sector that the JV business is expected to receive. CCP expects revenue to grow 10% this year (excluding the JV business) driven by strong flow of orders. Currently, it has Bt2bn in backlog on hand. (Thun Hoon, 22/01/15)

CSP
CSP expects steel sales to reach 150,000 tons in 2015 supported by the government’s stimulus plan. It sees steel prices as on the uptrend. It will also invest in a new factory and new machinery that will increase the quality of its products and in turn, its margins. (Kao Hoon, 22/01/15)
Comment: I still doubt the viability of steel companies in Thailand.

CSS
CSS increases capital by Bt200mn and loans Bt250mn to its joint venture business, Prime Renewable Energy Co., Lt”, to help expand the company’s energy business. It will move ahead and invest in the 10.2MW solar farm in Japan. It expects to start booking revenue from the project as early as 4Q15. Revenue this year is expected to reach Bt5bn. (Kao Hoon, 22/01/15)

DEMCO
DEMCO subsidiary wins concession for Bt1bn in infrastructure construction. The contract is expected to be signed by the end of January. IRR for the project is estimated at 13-14% per year. Revenue for the project is expected to be booked towards the end of 2015. The company also plans to bid for a skytrain project in Myanmar worth Bt500mn. (Kao Hoon, 22/01/15)
Comment: The main issue surrounding DEMCO’s stock price still comes from WEH, but I’m still of the viewpoint that WEH will list this year despite the issues surrounding K. Nopporn.

HEMRAJ
HEMRAJ sets a land sales target of 1,400 rai from last year’s target of 665 rai. It said it sees good potential growth in industrial estate, infrastructure and real estate business in the future. (Kao Hoon, 22/01/15)

JAS
JAS cheers SEC approval of JASIF worth Bt55bn-57.75bn. The guaranteed yield for the fund ranges from 8.59-9.02% and units are expected to be put up for sale at the end of this month. (Kao Hoon, 22/01/15)
Comment: I’ve heard that their first attempt to launch the fund in Dec was a flop, remember that TRUEIF was only successful because CP Group, SCB and BBL put in THB 20 bn into the fund, does JAS have such wealthy backers?

MALEE
MALEE to invest more than Bt30mn to launch a new product, “MALEE Healti Plus Lemon Lime”. The new product is expected to help push sales to grow by 5% this year. The company also said that its fruit juice sales alone make up 23% of Thailand’s total fruit juice business worth  Bt12bn. (Kao Hoon, 22/01/15)

POLAR
POLAR says its real estate business will move as planned in 2015. It is still in discussionwith a partner on a new real estate project abroad. It also said that the recent sale of the company’s shares by Somyot Pumpanmuang will have no impact on the company’s operations. (Kao Hoon, 22/01/15)

TWZ
TWZ expects to report sales of Bt4bn for 2014, exceeding its initial target of Bt3.5bn. The company attributes the strong performance to its successful market positioning of its products. For 2015, it plans to continue to invest in promotions. (Thun Hoon, 22/01/15)

SINGER
SINGER sets 2015 revenue target of Bt4bn. It plans to expand its client base and product lines and also double the number of its booths in Makro stores. (Thun Hoon, 22/01/15)

STAR
STAR expects to conclude deal with Malaysian client and expects to receive orders in February that will raise the portion of revenues from abroad to 60%. The company said that revenue this year is expected to grow by 20-25% and margins may exceed 35% in line with electricity rates and FT. (Thun Hoon, 22/01/15)