BSM

BSM is preparing to launch two new products during March-April supporting 2014 revenue of Bt700mn, +30% YoY. It said revenue in 2013 beat its target of Bt500mn. It will focus on the healthcare market. (Khao Hoon, 31/1/14)

Comment: New products will not have much influence on its performance if the demand in the construction market is still low during Q1-Q2 of 2014

CENTEL

CENTEL aims at 2014 revenue of Bt19bn, +10% YoY. It expects to receive additional 5-6 hotel management deals. It expects more revenue from 2 hotels in Maldives. Although hotel business in Bangkok has been pressured, hotels in rural have performed well with 80-90% occupancy rate. (Khao Hoon, 31/1/14)

Comment: Mimicing MINT in terms of the food and hotel combination, however their growth in management contracts is certainly impressive

GLOW

GLOW reported 2013 net profit of Bt7.2bn, +33% YoY. Revenue from sales and service was Bt69.7bn, +18.1% YoY, due to higher electricity sales from GHECO-One power plant to EGAT. (Khao Hoon, 31/1/14)

Comment: We’ve loved GLOW for years, however we now view it more as a dividend play pending the right entry price

PTT

PTT rose to being the second most valuable company in Asia at Bt800bn, ahead of JX Group, Japan’s oil company, and behind SingTel at Bt1.5trn. (Khao Hoon, 31/01/14)

Comment: Isn’t this just incredible?

RATCH

Purchases 50% of Tri-Energy — Ratchaburi Holding invested Bt703mn to purchase 50% of Tri-Energy power plant to add 350MW, bringing its capacity to 6653 MW. It believes this will add value and provide greater stability in the nation’s power grid. (Khao Hoon, 31/1/14)

SCC

SCC announced second half dividend of Bt7.00/share to give a total of Bt15.50/share for the year; XD on April 1 and payment on Apr 24. It reported profit of Bt36.7bn, a 56% increase YoY. Management said sales in 2014 will grow by 10% and it will also invest Bt50bn into business expansion and acquisition. (Khao Hoon, 31/01/14)

Comment: Still the best managed large cap in Thailand