CHOW
CHOW says it is in the middle of talks with a new partner to expand into alternative energy business. Its solar farm in Japan has started operations and it expects to start booking revenue in 4Q14. (Thun Hoon, 17/11/14)

CK
CK reported 3Q14 net profit of Bt1.2bn after booking gains from sale of BMCL shares. (Kao Hoon, 17/11/14)
Comment: CK did give guidance that it is not confident in maintaining its backlog for the next 12 months – a hint of a Thailand slowdown?

DEMCO
DEMCO expects dividends from its investment in a wind power project worth Bt50mn again in December. It has set a target to have 200MW total production capacity within the next 2-3 years. (Kao Hoon, 17/11/14)
Comment: When they sell their stakes in these projects DEMCO’s price will resume its upward trend

EA
EA reported 3Q14 net profit of Bt372mn, up 1,236% YoY, driven by revenues from the full operations of all of its power plants. (Kao Hoon, 17/11/14)
Comment: No surprise in its earnings performance.

EARTH
EARTH reported 3Q14 net profit of Bt294mn, up from last year’s Bt262mn. However this puts 9M14 earnings at Bt870mn, down from last year’s Bt939mn. (Kao Hoon, 17/11/14)

FPI
FPI signs contract with a big partner in Ecuador to set up a new factory in Ecuador. FPI will invest US$2mn. Construction is expected to start at the end of this year and to be completed by 2Q15. The company said its new warehouse will be completed early next year. It expects revenue next year to grow by 15%. (Kao Hoon, 17/11/14)

FSMART
FSMART reported 3Q14 net profit of Bt35mn, a slight improvement from last year’s Bt33mn. (Kao Hoon, 17/11/14)

HMPRO
HMPRO expect sales this year to reach Bt49bn, up 20% YoY. It plans to open its Malaysia branch in November. It will hold the “HomePro Expo” on Nov 14-23 and expects the event to bring in Bt650-700mn in sales. (Kao Hoon, (17/11/14)

IFEC
3Q14 net profit surged by 13,658% YoY to Bt114.46mn after booking gains on sale of assets. For 4Q14, management said that earnings will continue to stay strong. The company said it plans to be the leader in the alternative energy business with a total capacity of 600MW. (Thun Hoon, 17/11/14)

LHBANK
LHBANK says CP Group will send Ping An to be a major holder in order to use the company as the base for lending to companies under the CP Group like CPALL, TRUE and MAKRO. (Kao Hoon, 17/11/14)
Comment: Now thats an interesting spin on things. CP group is keeping everything in the family, I wonder what the impact will be to SCB (CP is their largest customer by far)

PTTGC
PTTGC sets EBITDA growth target of 20% for 2015-2019. It also plans to continue expanding production capacity and list NatureWorks in the US market to help increase revenue. (Kao Hoon, 17/11/14)
Comment: The potential merger with IRPC has been called off

SEAFCO
SEAFCO raises target revenue for the year to Bt2bn from Bt1.6-1.7bn after achieving 9M14 revenue of Bt1.4bn. It is confident that profit for the year will reach Bt200mn. It plans to bid for new projects worth more than Bt1bn and expects to get Bt400-500mn. The company will sign for a new project in Myanmar this November and invest Bt30-40mn in a takeover deal. In 3Q14, net profit was Bt92.72mn, up 148% YoY. (Thun Hoon, 17/11/14)
Comment: Still the best piling company in Thailand today.

SAPPE
SAPPE reported 9M14 net profit of Bt339mn, up 187.3% YoY from last year’s of Bt117.8mn. Total revenue was Bt2.22bn, up 18.7% YoY from last year’s Bt1.87bn. (Kao Hoon, 17/11/14)
Comment: Yet earnings have decreased 7% QoQ, is this a sign of things to come? Brokers are touting its export growth, I still have my doubts.

TAKUNI
TAKUNI’s 3Q14 revenue increased to Bt338.06mn, up 16.9% YoY; the company expects growth to continue through 4Q14. It also plans to open a new service station, “Champion Gas”. It said that it has started construction of its new gas warehouse worth Bt137mn in September and began receiving revenue in October. It revealed that it is in the process of negotiating the investment cost in the new service station. (Thun Hoon, 17/11/14)TOG

TOG said 4Q14 earnings will the strongest quarter for the year driven by seasonality. It confirmed that revenues this year will hit its target of Bt1.9bn supported by strong order flow. It will invest Bt150mn to expand its labs and production capacity further. (Thun Hoon, 17/11/14)
Comment: Still a fantastic company, I’m happy to see the owners do well.