AOT

2013 a good year — AOT says FY2013 was a good year, with a 20% rise in the number of tourists and 16% growth in number of flights. The CFO said there will reversal in depreciation costs for the Don Muang Airport worth Bt3bn, which will help push net profits up. The company will release its FY2013 earnings on Nov 29. (Khao Hoon, 27/11/13)

Comment: Thailand’s tourism numbers are just outstanding, has all the bad press over politics in the past few years just given Thailand free advertising?

BTS

Two big funds coming in —Two big Australian and Canadian funds will invest in BTS before the company will be included in the MSCI after the roadshow in Hong Kong is over. Both funds are confident in the business and said that current political situation in Thailand will not affect BTS’s business. They plan to invest US$10bn in this region, including Thailand. (Khao Hoon, 27/11/13)

Comment: We now question BTS as a viable holding going forward, with the sale of its main skytrain route to the IFF, what else do they have on their books?

CPF

Looking for 15% sales increase in 2014 — CPF expects sales next year to increase by 15% to reach Bt460bn from this year’s sales growth of ~10% to Bt380-390bn. The company has set aside an investment budget of Bt50bn for the next three years to fund expansion overseas. (Khao Hoon, 27/11/13)

Comment: Main story here is the recovery post shrimp and chicken problems, plus the recovery of CPALL’s earnings which are consolidated to CPF’s bottom line

PSL

Buys four new ships — PSL has invested Bt3.1bn in four new ships; two are 64,000 DWT and the other two are 38,500 DWT. (Khao Hoon, 27/11/13)

Comment: Shipping is it back? PSL is by far the best player in Thailand for this, perhaps even the region.

ROBINS

ROBINS expects 2014 revenue growth of 5-6% YoY based on a 4% YoY GDP growth assumption. It aims to add five new branches, worth Bt4.5bn, to bring total stores to 34 in 2013. It still expects 18% YoY revenue growth in 2013 due to high season in 4Q. (Khao Hoon, 27/11/13)

RS

Record-high net profit this and next year — RS said net profit in 2013-2014 will set new records, with 2014 revenue of more than Bt4bn. It does not see this as a good time to sell its treasury stock, though current price is more than average cost price in 2012 of an average of Bt4.3 (Khao Hoon, 27/11/13)