BIGC

BIGC in huge expansion — Big C Supercenter will double its investment this year to Bt8bn to open more than 200 new stores in all formats and develop two distribution centers to reduce risks from flooding. About Bt5bn will be used to open six hypermarkets, 13 Big C Markets, 150 Mini Big Cs and 50 Pure drug stores. Another Bt3bn will be used to build two distribution centers in northern and eastern Bangkok, bringing the number of centers to six by next April. The number of all stores under Big C will reach 565 this year – 119 hypermarkets, 31 Big C Markets, 275 Mini Big Cs and 140 Pure drug stores. (Bangkok Post, 03/04/13)

Comment: The majority of the expansion will be in the form of Mini Big C’s, it’ll have a small overall impact on their total earnings growth despite the fact the # of outlets increases from 365 to 565

TOP

Thaioil returns to the debt well — TOP plans to issue a new lot of debentures in the US worth US$1bn. The move is aimed at raising working capital, refinancing debt and funding capital expenditure, CEO Verasak Kositpaisal said after Thaioil shareholders approved the plan yesterday. (Bangkok Post, 03/04/13)

Comment: If I was a publicly listed entity, I would happily take advantage of these low interest rates to raise debt