AOT

Directors resign en masse — Airports of Thailand Public Company Limited (AOT) reports that the following directors resigned from AOT Board of Directors and all other positions, effective June 6, 2014: 1. Squadron Leader Sita Divari 2. Police General Krisna Polananta 3. Police Lieutenant General Pharnu Kerdlarpphon and 4. Mr. Wattana Tiengkul. (SET, 09/06/14)

Comment: I view this as wonderful news, AOT was well known to be under the thumb of Dr. T, hopefully less $$ will be flying out of AOT’s windows.

ECF

Issuing warrants — ECF will issue 260mn units of ECF-W1 with duration of 3 years for existing shareholders at the ratio of 2:1 (existing:new) to help support growth. It is confident that the furniture market in the second half will be active and expects 2Q14 revenues to grow by more than 15%. (Khao Hoon, 09/06/14)

Comment: Well..a furniture company that is barely profitable issuing warrants, sounds like the owners want their stock price to go up.

IFEC

MoU with Phnom Penh — IFEC reports it has entered into a memorandum of understanding with the Phnom Penh Municipality to conduct a study on the feasibility and proposal for a waste management project in Phnom Penh and the utilization of such waste to generate electricity. The company expects the initial study and planning stage of the project to take 6-12 months. (Khao Hoon, 09/06/14)

Comment: IFEC is one of the latest reverse IPO’s with new management taking the company from its leasing printer business to solar plants and renewables.

KKC

KKC doing well from baht depreciation; it expects to be in the black in 2Q14 after losses of Bt15.17mn in 1Q14. It maintains its 2014 revenue target of Bt1.4bn because of high demand, both domestic and overseas. It is ready to expand its overseas client base and will invest Bt400mn to upgrade its equipment to support growth. (Tun Hoon, 09/06/14)

MAJOR

Not hurt by curfew — MAJOR says the curfew did not affect 2Q14 performance because there are blockbuster foreign movies generating revenue of Bt500mn. It expects King Naresuan the Great 5 to do well in June after just four days of showings generated revenue of Bt100mn. It expects revenue to grow 10% YoY in 2014 and will add 36 new screens, as planned. (Khao Hoon, 09/06/14)

Comment: The power here is in the firms # of screens, they essentially have a monopoly in Thailand and can yield a massive amount of power over advertising.

QH

QH confirms it has no plan to sell LHBANK. It holds 21.43% and also other subsidiaries. It will launch 17 new projects worth Bt16.6bn in 2014. (Khao Hoon, 09/06/14)

SPCG

SPCG shares rally after Gulf Energy Development Co., Ltd (GED) acquired 10% of its paid-up capital, bringing in Bt1.8bn in cash and strengthening SPCG’s strategic partnership. GED will receive special dividend payment of Bt0.25-0.28/share and the new investment will help diversify GED’s business line by exposing it to alternative energy segment. (Khao Hoon, 09/06/14)

Comment: Quite simple here, debt down, interest payments decrease dramatically, profitability up, GED should be able to help SPCG acquire new business as well.

TICON

Talks with foreign partner for large space — TICON is negotiating with a foreign partner to set up a 40,000 sqm warehouse in Thailand. The talks will be concluded in 4Q14. It wants to expand warehouse space to generate revenue. Virapan Pulges, MD, expects more than Bt6.6bn revenue in 2014 supported by a growing number of clients. (Tun Hoon, 09/06/14)

Comment: It’s a drop in the bucket for Ticon’s total sqm portfolio, but positive news nonetheless