CK

Gets Contract 1 of Green Line — The MRTA board has selected CK to take Contract 1 of the Green Line Bearing-Samut Prakarn worth Bt137mn. (Khao Hoon, 28/04/14)

ERW

ERW: 1Q14 revenue to fall 25% YoY, pulled down by the political turmoil. However, there are better signs moving into 2Q14. It expects revenues this year to grow by 2-4% YoY and aims to open 12 new hotels to help push revenue growth in the future. (Khao Hoon, 28/04/14)

Comment: Every hotelier with Bangkok operations is going to have a poor 1Q, this is already known, still ERW looks more like an Asset play + recovery play

JAS

JAS expects to book profit of Bt30bn from its sale of assets in its new Bt70bn infrastructure fund in June. It aims to increase its customer base to 1.7mn by the end of this year and become the #1 player in the broadband business. (Khao Hoon, 28/04/14)

Comment: Sure, if it can get it up and running

KTC

KTC misses target issuing 70,000-80,000 against its target of 400,000 in 2014. Credit card revenue was Bt30bn in 1Q14, miles from its full year target of Bt138bn. It says that aggressive promotions have not worked because consumers are not in the mood for shopping. It will focus on potential consumers with salary of Bt40,000 and up. (Prachachart Thrurakit, 28/04/14)

Comment: Used to like the turnaround story here, however that’s done, now as an ongoing business I doubt its ability to fight against banks.

MJD

MJD is in the black. Management has adjusted business plan to focus on inventory liquidation of Bt10bn to generate revenue. It is ready to invest Bt600mn to set up a luxury hotel in Pattaya. (Tun Hoon, 28/04/14)

Comment: Well with a high D/E it had better do something, i.e. sell off some assets

SEAFCO

SEAFCO plans to bid for new project of Bt400mn bringing backlog up to Bt1.8bn; this will be gradually booked as revenue within 2015. Its XD date is on 2 May; it is paying both a cash and stock dividend. (Tun Hoon, 28/04/14)

SPCG

Bonds approved — SPCG shareholders have approved the issue of no more than Bt4bn in bonds, expected to sell in June. Bt3bn of the proceeds will be used to repay debt and Bt1bn will be used for business expansion at home and abroad. SPCG said revenue this year is expected to hit Bt3.5bn. It expects all 36 solar projects to be up and running by May. (Khao Hoon, 28/04/14)

Comment: Basic numbers show that this thing could be worth THB 30, but what happens when the adder runs out? 

SUPER

Shareholders okay purchase of PRO ONE shares, increasing power capacity by 4.7MW. It aims at total power capacity of 100MW. Management expects 2014 revenue and net profit to increase sharply and eliminate the accumulated net loss of Bt613mn. (Khao Hoon, 28/04/14)

Comment: Another RTO, and funny that it’s IFA says to reject the purchase but SUPER shareholders went ahead with it.

TRUE

TRUE to increase capital and bring in a new partner to hold no more than 25% in the company. It expects agreement with the new partner to be concluded within the second half of this year. It plans to use the proceeds to improve its financial position and lower debt. It expects revenues this year to increase by Bt5bn and to book profit of Bt6bn from its infrastructure fund. (Khao Hoon, 28/04/14)

Comment: Well NO SURPRISE THERE!