BMCL

MRTA not to take rights — The MRTA board decided that it will not take its rights in BMCL’s capital increase and will allow its holdings to be diluted to 14%. MRTA’s CFO and financial advisors said that the decision will have no impact on the company’s management as it already holds the concession. (Khao Hoon, 03/12/13)

Comment: Yes that’s true, but still once BMCL reduces its interest payments then its numbers will be more appealing to investors

CPNRF

Delays sale of new units — CPNRF has delayed the sale of its new units because of the pressure on the stock market created by the political unrest. It will monitor the situation and announce a date on December 4. (Khao Hoon, 3/12/13)

Comment: We think that this has more to do with the rate that investors are requesting because of the short-term political noise

HEMRAJ

HEMRAJ expects revenue growth of 40% in 2013 due to land sales of 2,300 rai. It is confident that the political unrest will not impact its business. (Khao Hoon, 3/12/13)

Comment: The majority of revenue growth we think has also come from the GHECO-One project with Glow

PS

Record-high growth in 2013 — PS has seen sharp growth in presales and expects 2013 to be a record high. It is investing Bt2.1bn to build two Pruksa Precast factories in Navanakorn to make sure it has the most advanced technology in the world. These are expected to be operational in 3Q14. (Khao Hoon, 3/12/13)

Comment: Their ability to grow just continually amazes us, they really cemented their place as the top property developer in Thailand

PTTEP

PTTEP buys stake – Indonesia’s Pertamina said yesterday it joined PTT Exploration and Production (PTTEP) to purchase Hess Corp’s stake in two Indonesian offshore oilfields for US$1.3bn (Bt41.85bn). The two Asian companies will take over Hess’ 75% stake in Pangkah block in Indonesia’s East Java Sea and a 23% share in the Natuna Sea A Block, near the border between Malaysia and Indonesia. The partnership is a 50-50 split between Pertamina and PTTEP. (Bangkok Post, 03/12/13)

SOLAR

2013 revenue growth below target — SOLAR said is 2013 revenues will grow by only 30%, far short of its target of 50%, due to the political unrest that has slowed customer orders. However, 4Q13 results will be the year’s best as it will book revenues from BCP. (Khao Hoon, 03/12/13)

SPALI

Soft opening of Pattaya condo — SPALI will have a special soft opening of its newest luxury condominium, Supalai Mare @ Pattaya, in celebration of the King’s birthday. The launch will be held Dec 5-10th at the sales site. (Khao Hoon, 03/12/13)

WHA

WHA outlines B6bn space addition – WHA Corporation Plc, a SET-listed custom-built warehouse and distribution centre developer, plans to invest Bt5-6bn to develop an additional 300,000 square meters of space next year. (Bangkok Post, 03/12/13)

Comment: I still can’t accept these valuations, expect a post coming on this soon.