BTS

Drawing up expansion plan — BTS says it is preparing its personnel and financial planning to facilitate its expansion plan for the next 10 years. It said it has the financial capability to invest in up to four lines valued at Bt120bn. (Krungthep Turakij, 02/09/13)

GLAND

Looks for a good year — GLAND announced that performance for the year will be strong, with revenues to reach Bt5bn, a 350% increase YoY, supported by the transfers of “Belle Avenue Rama 9 – Phase 1”, an 800-unit project worth more than Bt4.8bn. It also expects to set up a property fund worth Bt4bn by year end. (Khao Hoon, 02/09/13)

Comment: @ this price we call this our new Erawan asset play. Just look @ the assets this company has on hand to shift to property funds over the next few years.

LOXLEY

2H13 revenues to go up 20% HoH — LOXLEY says it expects revenues for 2H13 to reach Bt9bn, a 20% increase from 1H13, after backlog reached more than Bt10bn, with 50% of this expected to be booked as revenues by year end. It is waiting for the results for the Maldives airport project, which is expected to be announced by Sept-Oct. The project will help push revenues for the year up to Bt16bn. (Khao Hoon, 02/09/13)

SAT

SAT lowers sights — SAT has cut its 2013 revenue target to growth of 2-5% from its initial 10%, citing slower than expected growth in the industry and lower manufacturing orders. The company also said that it will be investing Bt1.6bn over the next two years to expand capacity. (Khao Hoon, 02/09/13)

Comment: Almost every auto manufacturer in Thailand will have declining growth on the domestic front, but we think exports have been picking up the slack. Finally this sector looks attractive to invest in again.