BKD
BKD to book Bt400mn of current backlog in 4Q14. It is confident that revenue for the year will exceed its target of Bt1.1bn. It expects to know the bidding results of a new project worth Bt1bn this year. It has set a five-year plan targeting revenue growth of at least 20% per year. (Kao Hoon, 12/11/14)

CCP
CCP reported 9M14 revenue of Bt2.045bn and net profit of Bt192mn, up 46.46% YoY. It expects to receive more work in the eastern region from the state and public sector by the end of the year, which should help push backlog up to Bt2bn from the current Bt1.9bn. It is confident that revenue for the year will reach Bt2.9bn. (Kao Hoon, 12/11/14)

GRAMMY
Grammy allots Bt3bn for digital – GMM Grammy Plc, the country’s largest entertainment company, has earmarked Bt3bn for its digital TV content development next year in a drive to lift ratings and expand viewership. (Bangkok Post, 12/11/14)
Comment: A B rate version of WORK

IVL
IVL earmarks B20bn to expand reach – SET-listed Indorama Ventures Plc (IVL), the world’s leading intermediate petrochemical products manufacturer, has earmarked Bt20bn to acquire two upstream production companies in the next few months. Agarwal, chief executive for feedstock and polyethylene terephthalate (PET) business, said the first acquisition was likely to be completed by the end of this year and the other in first quarter of next year. (Bangkok Post, 12/11/14)
Comment: They have & will continue on its M&A spree, although I wouldn’t bother looking @ picking up any shares in IVL unless it drops below 20, just for upside reasons, IRR etc etc..

KCE
KCE reports peak performance in 3Q14. Both revenue and net profit achieved record highs for the fifth consecutive quarter. The company reported revenue of Bt3bn and net profit of Bt611mn and is confident that 2014 performance will better than expected. (Thun Hoon, 12/11/14)
Comment: KCE’s earnings will most likely peak and be stable by 1Q15 if memory serves me correct – this is as a result of the last round of capacity expansion that will be completed

MAX
Board postpones Siamese Asset deal from 23 December after the SET said the deal is classified as a backdoor listing and the company has to re-file. The company expects to re-file in 2Q15. (Kao Hoon, 12/11/14)
Comment: Well yes OF COURSE ITS A BACKDOOR LISTING! Personally I think the Siamese Asset is worth .. anywhere between 0.80-1 / share depending on the projects that will be put through MAX

M-LINK
M-Link sells stake to police chief, Samart for BT1.2bn – Samart Corporation and the national police chief have acquired more than half of handset distributor M-Link Asia Corporation after the stake was offered for sale by the Wongsawat family, which has links to the influential Shinawatra clan. (Bangkok Post, 12/11/14)
Comment: Wait, stop, a police chief has THB 1.2 bn to spend? I’m all for civil servants being paid well, but ok..if the authorities don’t see this as a red flag I don’t quite know what to say.

NCL
NCL share prices surged to close at ceiling at Bt5.40/share, up 200% from IPO price of Bt1.80/share, on its first trading day. Management said that the run was due to investor confidence in the company’s potential as they realize the logistics business will continue to grow, supported by the opening of AEC. (Kao Hoon, 12/11/14)
Comment: The usual story.

PS
PS says net profit this year will reach a new high supported by revenue that is expected to exceed its target of Bt42bn this year, coupled with better cost management. The company has Bt38.7bn backlog on hand and expects to book more than Bt12bn of it in 4Q14. (Kao Hoon, 12/11/14)
Pruksa to launch 70 projects worth B570bn in 2015 – SET-listed developer Pruksa Real Estate Plc (PS) sees bright prospects for the property market next year and plans to launch at least 70 projects worth more than Bt70bn. (Bangkok Post, 12/11/14)
Comment: 70 projects worth THB 570 bn. I think that says enough right there.

SIRI
SIRI successful raises capital by Bt19.8bn and continues to adjust its portfolio for the Engineer for Growth plan, which expects to increase transfers and generate higher profit. The company expects net margin of 12% in 2014. (Thun Hoon, 12/11/14)

SIS
SIS looking for partner to support business growth. Management expects revenue of more than Bt18bn in 2014 and 2014 net profit of Bt190mn, close to 2013’s. The company is confident that orders will increase. (Thun Hoon, 12/11/14)

SMART
SMART said that 4Q14 sales will grow 6-7% from 3Q14, supported by signs of recovery in the construction business. It will invest more than Bt200mn in 2015 to increase capacity to 6mn sqm. (Kao Hoon, 12/11/14)

SPALI
SPALI reported a jump in 3Q14 net profit of Bt1.580bn, up 351% YoY. (Kao Hoon, 12/11/14)

THREL
Fairfax Financial Holdings buys 55mn shares of THREL at a price of Bt14.7/share, making it the second largest shareholder following THRE. (Kao Hoon, 12/11/14)

TMI
TMI says revenue this year will reach target growth of 10-15% after reporting 3Q14 net profit of Bt4.41mn, up 323% YoY, on revenue growth of 28.74% YoY, supported by expansion in its product markets. It is confident that growth next year will be good and will continue its study to invest in alternative energy business. (Kao Hoon, 12/11/14)

TRC
TRC joins with China firm for railway development – TRC Construction Plc will team up with China Railway Corporation (CRC) to bid for Thailand’s rail development projects, expecting to capture a 10% share of the total project investment. TRC chief executive Samai Leesakul said a new joint venture would be set up in which TRC, through its subsidiary Sahakarn, will own 40% and the Chinese firm the rest. TRC also plans to bid on a few other projects this year to double its backlog to Bt10bn by year-end, he said. The company projects revenue of Bt4bn this year, up from Bt2.5bn last year, with 20% growth in 2015. (Bangkok Post, 12/11/14)

VGI
VGI cuts revenue growth to 0-3% YoY from 13-17% YoY, saying it was affected by political problems and were unable to extend the contract with Tesco Lotus. The company expects revenue growth of 15% YoY in 2015 and plans to acquire another company, though it cannot buy TH. (Kao Hoon, 12/11/14)
Comment: The loss of Tesco is to me, a huge negative for VGI, and combined with the fact that advertising is normally the last thing to recover after an economic slowdown – I doubt we’ll see anything positive from their earnings for a while.