BECL

BECL reports traffic cut by curfew. Its traffic volume contracted 2.5% in May and is expected to be negative in 2Q14. It expects traffic growth of 0.5% in 2014. (Khao Hoon, 10/06/14)

Comment: This along with the “black market” businesses are all hurt by this curfew in Bangkok

BJCHI

BJCHI is waiting on results for new work in Australia and Brazil worth Bt6bn. This will help bring up current backlog of Bt4.4bn. It expects to book 75% of its backlog this year. It said 2Q14 revenues will be better than the previous quarter and revenues are expected to grow by 15% YoY this year. (Khao Hoon, 10/06/14)

Comment: Still trading at valuation discount to STPI despite it being involved in the same industry.

IRPC

Fire damages diesel unit at IRPC’S Thai Rayong refinery – A fire damaged a diesel production unit on Monday at the Rayong plant operated by Thai refiner IRPC. The fire broke out at the preparation area to supply feedstock to a diesel cracking unit. The blaze at the refinery, on the coast of the Gulf of Thailand, was brought under control, said IRPC CEO Sukrit Surabotsopon. (Reuters, 10/06/14)

Comment: IRPC…a constant disappointment.

LPN

Switches strategy for project — LPN says that it is using a “Below The Line” marketing strategy for selling Lumpini Place project at Borommaratchachonnani-Pinklao in this unclear domestic situation. The project met good response with pre-bookings of 1,200, and 60% of these sold at the June 7 opening. (Tun Hoon, 10/06/14)

Comment: Are the days of LPN selling out 100% gone forever? Still a great company with a wonderful product for its segment, but the softening property market isn’t doing them any favours.

MACO

MACO says performance will fall in 2Q14 because of the political problems and slowed economy that hit the advertising market. It is confident in 2014 revenue growth of 15% YoY, in line with target, because it expects a recovery in 3Q14. It also expects the partnership with VGI to support its business. (Khao Hoon, 10/06/14)

Comment: Advertising is always the first to go during a crisis period and the last to recover.

PTT

PTT: Let market forces rule – The energy giant PTT Plc said a free market should be the key element of energy reform pushed by the junta, with market forces ruling the energy sector and not populist policies. (Bangkok Post, 10/06/14)

SAWAD

SAWAD says revenue growth of over 30% this year although 2Q14 earnings will be weaker than 1Q14 on seasonality. The company is also in the process of asking for a corporate bond or B/E credit line worth Bt2bn. (Khao Hoon, 10/06/14)

Comment: After their IPO performance, investors are still loving this company and why not? Well managed, in an ok sector and a clean balance sheet.

SENA

SENA reports Bt900mn in presales in 2Q14 and plans to open six new projects worth Bt4bn in 2H14, with a focus on more condos in the Bt2mn range. (Khao Hoon, 10/06/14)

TSR

THEINSURAT PCL (TSR) IPO of 86mn shares at price of Bt3.50/share – estimated to be a 15% discount to fair value. Subscription period will start June 11-13 and the company will start trading on June 19. Management is confident there will be strong interest from investors and said that revenues this year will grow by 20%. It targets a growth of 10% for sales of its water filter machines. (Khao Hoon, 10/06/14)

UAC

UAC: energy business to perform strongly in 2015 upon the expansion of its biodiesel capacity to 810,000 liters/day. All of its 21 CBG plant will be completed in 2015 and it expects revenues to hit Bt1.2bn. (Khao Hoon, 10/06/14)

Comment: Still an absolute no-brainer, wonderfully managed, very simple to forecast.