Stocks in the news (css, cimbt, crane, ichi, ivl, jas, mint, noble, nok, pttep) 07.08.14
CGS
CGS cuts market share target for brokerage to 3% from 3.5% after the resignation of its marketing team. It is ready to become a holding company in October, and is interested in energy and telecommunication businesses. (Kao Hoon, 07/08/14)
Comment: As is always the case, whenever a new brokerage firm pops up, brokers move around and market share diminishes.
CIMBT
CIMBT ready to expand personal loan market share after it completed an improvement of its analysis system. The company has launched personal cash product with 15% interest rate for those with monthly salaries of Bt30,000 and 18% for those with a salary of Bt20,000. It expects to lend Bt5bn within 2014. (ASTV manager, 07/08/14)
CRANE
CRANE will move from the mai to the SET on August 7. The move reflects the company’s strong fundamentals and its continuous growth over the last five years. The move will help provide greater liquidity for investment. (Kao Hoon, 07/08/14)
Comment: This doesn’t necessarily imply greater liquidity because funds won’t invest in smaller/mid companies
ICHI
Ichitan sees AEC sales push – Ichitan Group Plc, a ready-to-drink green tea market leader, expects sales to reach Bt10bn in 2016 from an expected Bt7bn this year as the company expands into other Southeast Asian markets and diversifies into fruit drinks. (Bangkok Post, 07/08/14)
Comment: They know how to sell stories.
IVL
New warrants — IVL reported to shareholders the issue of IVL-W1 and IVL-W2 for potential new projects, including setting up aromatics and olefins plants in North America and acquiring companies with US$2.5bn investment. (Post Today, 07/08/14)
Comment: Old news by now, basically the IVL-W2 has an exercise price of about THB 45 (if memory servces me correct) and expires in 3 years.
JAS
Jasmine’s fund faces legal delay – Jasmine International Plc’s infrastructure fund could face further delays due to a legal dispute. However, it says any delay will have no effect on the group’s revenue, which is projected to grow by 12% this year. (Bangkok Post, 07/08/14)
Comment: NO SURPRISE!
MINT
MINT sets up a joint venture company to invest Bt3.2bn in expanding abroad. Recently, it announced investment in a real estate project in Mozambique, a country where the economy has been growing strongly. (Kao Hoon, 07/08/14)
NOBLE
Noble defiant over funding plan despite legal case – NOBLE Development’s major shareholder and chief executive officer Kitti Thanakitamnuay has asked the Securities and Exchange Commission, the Stock Exchange of Thailand and related organisations to investigate minority shareholder Esteemed Networks Group, which holds a 23.64% stake in Noble. (Bangkok Post, 07/08/14)
Comment: I do like seeing minority shareholders having their rights upheld, but ENG doesn’t seem to genuine about their intentions.
NOK
Scoot moving to Don Muang — Scoot has begun relocating its flights to Don Muang in preparation for the September 1 startup of connections with Nok, ahead of the official opening of Nok Scoot. It said flights will start this year. (Kao Hoon, 07/08/14)
Comment: Great for NOK as Don Muang does have lower landing fees versus Suvarnabhumi
PTTEP
PTTEP axes four Cayman subsidiaries – PTT Exploration and Production Plc (PTTEP), Thailand’s sole publicly listed explorer, has shut down four subsidiaries registered in the Cayman Islands after public comments that their establishment was intended to avoid tax payments. (Bangkok Post, 07/08/14)
Comment: Well of course they were!