Unternehmensprognossen Thailand auschnitte aus zeitungen - 500 Beiträge pro Seite

[lapamita]

mache einen neuen tread zu thialnd auf,,, und bitte darum,,,hier keine diskussionen zu machen, und auch keine SET pflichtmiteilungen reinzusetzen,denn die kann man jederzeit nachlesen bei www.set.or.th
sondern es geht hier nur um PROGNOSSEN und ARTIKEL die die zukunft wiedergeben aus den entsprechenden zeitungen
bangkokpost
nation
biznews thai
etc

cih hoffe der traed bleibt nur auf fakten,,,zum einfachen finden von artikeln, beim zukuenftigen aktien kauf


hier von heute ) artikel immer headlines kurz und knapp)

Srithai investing cautiouslyPublished: 19/01/2009 at 12:00 AM
Newspaper section: Business
Srithai Superware Plc, the SET-listed plastic products and housewares manufacturer, has reduced its 2009 investment budget by almost half to 350 million baht and will focus on new businesses with market potential.




Sanan: New orders from bottlers will help
Chairman Sanan Angubolkul said the company had cut its investment budget this year from 600 million baht earlier because of economic uncertainties.

The investment will be geared toward producing CD containers. The company will also produce thin-wall containers for ready-to-eat food packaging. In addition, some money will be allocated for in-mould labelling, a technology to produce plastic popcorn tubs, which are now exported to Japan, Indonesia and Vietnam.

Srithai Superware will also invest in plastic closers for PET bottles. Next month the company will deliver its first orders to Haad Thip Plc, the bottler of Coke, Fanta and Sprite in the South, and it will also supply bottlers of beverage firms in Cambodia and Laos within the next three months. The company has obtained a licence to produce plastic closers for 14 countries worldwide.

"We have adjusted our strategy to focus on such categories because we expect problems in the automotive and electrical appliance sectors worldwide will continue this year," said Mr Sanan.

Srithai estimated its revenues last year were 4.95 billion baht, about 100 million baht below its original target, because orders for automotive components and electrical spare parts in the global market shrank by half.

In Thailand, more than 100 plastic factories were closed last year. It is expected that another 500 factories, mainly small ones, will be closed temporarily in the first quarter of this year. Orders for plastic products from these businesses are therefore expected to decline by up to 60-70% this year.

"We are fortunate that we have adjusted our product portfolio by expanding to new businesses since last year," said Mr Sanan.

The company expects its revenues to rise by 3% to about 5.2 billion baht this year. Sales volumes will grow by 15% although sales value will increase by only 3% as plastic prices are down to 30 baht per kilogramme from a recent peak of 80 baht per kg.

However, the company expects its gross profit to be around 23%, compared with 19% last year. About 78% of total sales last year came from the domestic market and the remainder from almost 100 countries worldwide.

Srithai shares (SITHAI) closed on Friday on the Stock Exchange of Thailand at 4.84 baht, unchanged, in trade worth 5,000 baht.
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Media of Medias expects 10% growthPublished: 19/01/2009 at 12:00 AM
Newspaper section: Business
Media of Medias Plc (MEDIAS), the listed entertainment company, forecasts that its revenues will rise by 10% to more than one billion baht this year with the launch of two new TV programmes and a second satellite channel.




Satellite TV is the right product for a recession because more people will be entertaining themselves at home, says CEO Charlotte Donavanik.
CEO Charlotte Donavanik said the satellite TV market was promising and the company had received a good response after launching the Media Channel in October last year.

It expects advertising revenue of 30 million baht from the Media Channel from October to March. The second channel offering "edutainment" is expected to increase ad revenues to 70 million baht for the 12-month period.

"We think we are going in the right business direction with satellite TV channels. During a recession, people like to stay home and still want home entertainment," she said.

The first Media Channel will broadcast 70% reruns of soap operas from Channel 7, with the rest of the programming being movies and series from business partner M Pictures Plc, a subsidiary of the Major Cineplex Group.

One popular talk show on Media Channel, Krit-Mod Dum, can now be viewed on mobile phones as well.

"We plan to push Media Channel to be number one in the satellite TV market and more entertainment programmes with the same quality as those aired on free TV will be added," said Ms Charlotte.

For the free-TV market, Medias wants to produce two more TV programmes, up from its current total of seven, mainly aired on market-leading Channel 7.

As well, Ms Charlotte said Medias aimed to diversify its business by finding the right partners when opportunities arise. The company has one billion baht in cash on hand. This year, it will spend more than 100 million baht on new equipment and a virtual studio.

"We will revise our business plan more frequently to suit the changing situation," she said. "We still have chances to grow as we are not big."

Last year, Medias estimated that its revenues rose by 10% from 900 million baht in 2007. It expects its revenues also to grow by 10% in 2009.

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Samart looks forward to a 'golden year'
Revenue expected to rise 30% to B23bn
By: SRISAMORN PHOOSUPHANUSORN
Published: 17/01/2009 at 12:00 AM
Newspaper section: Business
Samart Corporation is upbeat on its business prospects with a revenue growth target of 30% to 23 billion baht this year, and it will be helped by new government projects and information and communications technology (ICT) businesses.




Watchai: Expects ICT opportunities
The SET-listed communications-equipment company expects its growth-led ICT business will have a "golden year", thanks to the country's more stable politics and the government's stimulus economic package.

"Defying the economic crisis, 2009 is expected to be a year of risk and opportunity management for Samart with foreseeable strong growth," said president Watchai Vilailuck.

Samart projected its ICT revenue, through its subsidiary Samart Telcoms Plc, to surge more than 200% from three billion to eight billion baht this year, which would contribute up to 30% of total revenue.

The company expected to capture at least 10% of the government's projects to be worth 100 billion baht this year.

Mr Watchai said Samart I-Mobile, the handset flagship, expected to sell five million handsets for revenue of 12.5 billion baht this year. Of the total, 2.7 million units would be sold locally and the remaining 2.3 million overseas, mainly in Indonesia.

The company planned to introduce over 30 handset models this year, double last year.

Handset sales revenues would contribute 55% of total revenue, down from 70-75% last year. Gross margins of handset sales would increase from 10% to 15% this year.

Samart I-Mobile's local handset sales fell short of a five million target with sales of 3.7 million units last year, representing a 28% market share

Local handset demand is expected to hit 8.8 million units this year, with a value of 33.75 billion baht, compared with demand of 8.8 million units with a total value of 35 billion baht in 2008.

Mr Watchai admitted that Samart achieved only 75% of its revenue target last year or 18 billion baht due mainly to the political unrest and delays in the government's bidding projects.

He added that Samart remained relatively unscathed by the economic crisis last year.

"We still believe we will continue to grow by 30% in terms of revenue this year," he said.

He said this crisis was unlikely to have a direct impact on Samart like the 1997 financial crisis, thanks to its low debt burden, strong financial health and high growth in internet protocol broadband, ICT outsourcing, content, house-brand handsets and submarine cable.

Mr Watchai also said that corporate earnings in Thailand are expected to grow 0.9% in 2009, with the telecom sector to record negative earnings growth.

But he said Samart had no plan to lay off employees or downsize business, as the company is looking to expand new businesses and improve its competitiveness.

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Synnex eyes 10% growth on state spending
Published: 17/01/2009 at 12:00 AM
Newspaper section: Business
Synnex (Thailand) expects revenue growth of 10% in 2009 thanks to increased investment spending by the new government.


President Supant Mongkolsuthree said for 2008, the company expected at least 8% growth from the 10.5 billion baht in revenues posted.

The computer and software company posted nine-month profits of 114.2 million baht on revenues of 9.15 billion.

The company's appointment as a distributor of HP notebook computers would help boost revenues this year by at least one to two billion baht, he said.

But sales of other products were expected to remain flat this year, as consumers and companies cut back spending due to the sluggish economy.

IT spending industry-wide could fall to just 0.3% this year, compared with 8-10% growth per year in past years.

"This year, we could see bad loans rise sharply in the IT sector," he said.

Synnex expected that its own debt could double this year from 10 million in 2008. "But we are managing our receivables risk closely across our customer base of nearly 4,000 nationwide," Mr Supant added.

Shares of Synnex (SYNEX) on the Stock Exchange of Thailand closed yesterday at 1.16 baht, up four satang, in trade worth 1.84 million baht.

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Centel cuts budget, delays construction By: DARANA CHUDASRI
Published: 15/01/2009 at 12:00 AM
Newspaper section: Business
Central Plaza Hotel will cut back its investment budget for 2009 by one billion baht to just 1.6-1.7 billion in light of the global and domestic economic slowdown. Ronnachit Mahattanapreut, the Centel senior vice-president for finance, said the hotel operator would also delay existing construction and renovation projects to reduce expenditures this year.


The two-billion-baht Centara Phuket Resort, now 20-30% complete, will have work delayed, a move that Mr Ronnachit said would help reduce ultimate construction costs for the project as materials costs fall in the future with the slowing economy.

A renovation plan for the Sofitel Centara Grand Bangkok at Central Lat Phrao will also be scaled back and delayed.

Mr Ronnachit said Centel had previously earmarked one billion baht to renovate the hotel over an 18-month schedule. Centel will now extend the timeframe to three years and cut back spending to 800 million baht.

''We pursued a similar strategy during the 1997 financial crisis, where we delayed construction to take advantage of falling costs,'' he said.

Mr Ronnachit said Centel had also locked in credit lines of six billion baht with local banks, with loan facilities dated as long as nine to ten years.

Centel plans to drawdown 2.3 billion baht in funds in the first half to finance ongoing work at the Centara Grand at CentralWorld. Another 2.1 billion baht will be allocated to the company's Pattaya projects and 1.6 billion for its Phuket projects.

Mr Ronnachit said the funding lines would also be drawn to help clear existing short-term liabilities.

Centel also planned to seek shareholder approval to issue up to 3.5-4 billion baht in debentures to take advantage of falling interest rates and reduce the company's funding costs.

In any case, Centel expects revenues this year to reach nine billion baht, up 12% from 2008 thanks to contributions from the CentralWorld hotel.

The Centara Grand, the group's flagship property, opened in mid-2008 and generated 516 million baht for the company. Revenues this year are projected at 1.028 billion.

But Mr Ronnachit said hotel revenues, which accounted for 52% of total company revenues, were likely to drop to 45% this year due to the global economic slowdown and decline in the tourism sector. Centel's food operations, which includes international franchises such as KFC, Mister Donut and Pizza Hut, account for the remaining revenues.

Centel aims to maintain hotel occupancy rates at around 65% this year, or on par with 2008. The company also plans to expand its hotel management services, both overseas and locally, with a goal of doubling revenue contributions to 20% of total hotel segment revenues within 3-4 years.

Centel reported nine-month profits of 304.8 million baht, up from profits of 233.9 million during the same period the year before. Revenues for nine months ending in September totalled 6.04 billion baht, up from 5.2 billion in the same period in 2007.

Shares of Centel on the Stock Exchange of Thailand closed unchanged yesterday at 3.1 baht on trade of 1.94 million baht. __
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BANGKOK LAND PRICES DROP 20% in 2008
Offer prices for land plots in Bangkok have dropped by an average of 20% from their peak and have plunged deepest in emerging locations like Ratchadaphisek, Srinakarin and Onnuj, said Sahatchai Kwancheun, vice-president of property consultant Harrison Plc. These emerging areas have seen a sharp decline after prices
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Muang Thai eyes 15% growth By: CHAROEN KITTIKANYA
Published: 14/01/2009 at 12:00 AM
Newspaper section: Business
SET-listed Muang Thai Insurance (MTI) has set its sight on growing by 15% this year, despite Thailand's unfavourable economic outlook and the world financial crisis.


MTI president Nualphan Lamsam said yesterday that the company was still upbeat on its performance prospects, with business based on written premiums set to climb 15% to 5.06 billion baht.

MTI, the merger firm created by Phatra Insurance (PHA) and Muang Thai Insurance, last year overshot its target of 4.05 billion baht. This represents a 25% increase on 2007 and raises the company's ranking to become the fifth-largest non-life insurer.

Motor and non-motor insurance business contributed equally to the company's written premium portfolio.

PHA and MTI, two non-life insurers controlled by the Lamsam family, announced a merger last June to improve their competitiveness.

According to Ms Nualphan, despite the bearish economic environment, the company is set this year to grow across all products and to upgrade its services and build its financial strength.

"We are still confident of further growth, outstripping the overall industry's performance, which is projected by regulators and relevant associations to see only 3-4% growth this year," she said.

Despite the troubled economy, the company also remains committed to its social contribution and corporate social responsibility (CSR) budget.

Last year, the company spent over 10 million baht on CSR and social contributions, particularly through free surgery for cleft lip and eye disorders by 45 Thai and international medical volunteers.

The surgery project aims to treat 700 patients this year.

According to Ms Nualphan, the project not only helps poor and underprivileged patients but also provides knowledge and expertise exchange between Thai and US medical practitioners.

Shares of MTI closed on the Stock Exchange of Thailand at 36.25 baht yesterday, down 75 satang
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Thai Stanley Electric expansion will hinge on eco-cars
By: SANTAN SANTIVIMOLNAT
Published: 12/01/2009 at 12:00 AM
Newspaper section: Business
Thai Stanley Electric Plc may not expand its plant in Pathum Thani as planned earlier to prepare for eco-car production in Thailand in light of the automotive industry slump worldwide.


The SET-listed Thai-Japanese manufacturer of automotive bulbs, lighting equipment and moulds and dies, had planned to spend two billion baht this year to support the operations of eco-car manufacturers.

Currently, the company supplies many automobile and motorcycle producers. They include Honda, Mitsubishi, Isuzu, Toyota, Nissan, Suzuki, Ford and Mazda, Yamaha, Kawasaki and Cagiva.

Executive vice-president Apichart Lee-issaranukul said it remained unclear whether the six eco-car makers approved by the Board of Investment would go ahead with their plans as the financial crisis has undermined vehicle demand at home and abroad.

"Only one producer, Suzuki, has so far confirmed it would delay its eco-car project due to the uncertain outlook while the others remain quiet," said Mr Apichart.

Thai Stanley would shelve its new eco-car parts plant if most participants put their plans on hold, and instead would use existing capacity to support any eco-car production that does go ahead.

The BoI has approved eco-car promotional privileges for six global manufacturers: Honda, Nissan, Suzuki, Mitsubishi, Toyota and Tata. Volkswagen had also expressed an interest. If all seven projects go ahead, 700,000 of the small, fuel-efficient cars per year would be produced after five years of operations.

Mr Apichart said Honda seemed to have the highest potential to start making eco-cars.

"We have started talking with Honda for the designs, specifications and prices for the eco-car lighting products but have not yet finalised them, especially the prices as Honda needs to control the eco-car production cost efficiently," he said.

He said he needed another three or four months to see if any projects would go ahead apart from Honda's.

Thai Stanley is ready to expand its plant immediately once all eco-car makers commit to their projects as it has cash in and land for the new plant.

Mr Apichart said Thai Stanley still performed well over the first half of its 2008 financial year ending on March 31, 2009 with sales exceeding targets. In the six months to Sept 30, net profit was 801.43 million baht (10.46 baht a share), an increase of 16.7% from 686.68 million (8.96 baht a share) in the same period a year earlier.

However, the company began to feel the pinch of the slowing automotive industry last month and projected that sales in January would contract by 20-30%.

Thai Stanley has a 95% share of the local motorcycle market and 65% of the automobile headlamp market.

It currently produces eight million automotive bulbs per year, 2.6 million pieces of lighting equipment and 400 plastic injection moulds.

Shares of Thai Stanley (STANLY) closed on Friday at 59.50 baht, unchanged.

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ENERGY
PTT projects 10% decline in revenue
10/01/2009 : PTT Plc expects its group revenue this year will fall about 10% from the estimated two trillion baht it earned in 2008 because of the sharp drop in the prices of crude
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SPPT shuts down plant, cuts 200 jobs By: POST REPORTERS
Published: 9/01/2009 at 12:00 AM
Newspaper section: Business
Single Point Parts (Thailand) Plc (SPPT), a SET-listed electronic parts and components maker, is closing down one of its four production plants after it cut 200 contract workers at the plant.According to general manager Seubtrakul Binthep, the targeted plant is one of three located in Rojana Industrial Park in Ayutthaya and its facilities are moving to another plant in Saraburi. He said the company had a severe drop in orders due to economic woes.


''Like other companies with major clients from American and European companies whose productions are here, orders are down and the first quarter is traditionally a low season for Japanese orders,'' said Phapoth Pholpipattanapong, the company vice-president.

''These cutbacks are a normal occurrence for sub-contracted workers, but SPPT commits to ensuring fair compensation to those workers.''

Once the plant closes, the company's output will fall by one-fifth.

The company mostly supplies its parts to hard disk drive (HDD) makers and consumer electronics manufacturers.

However, Mr Seubtrakul still believes orders will recover in the third quarter this year as some orders due to deliver from second quarter onwards have started to arrive.

He said the company will resume full operations and hire more employees once orders return.

Mr Seubtrakul added that some products will still experience growth, such as HDDs, but the rate might slow from 15% in the past several years to 10%.

SPPT shares closed yesterday on the SET at 3.10 baht, down 30 satang, in trade worth 52,000 baht

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Delta puts $50m India plant on hold
Thai operation to shed 400 jobs ...anmerkung auch die investmentplaene fuer europa sind auf eis
By: NAREERAT WIRIYAPONG
Published: 5/01/2009 at 12:00 AM
Newspaper section: Business
Delta Electronics (Thailand) Plc, the SET-listed electronics parts maker, will suspend its investment of $50 million to build a new factory in India and also downsize its Thai manufacturing base amid the global economic recession.


The plan to develop the new plant in Chennai starting in 2009 would be postponed as targeted customers including IBM and Nokia have also postponed their investments in India, according to Anusorn Muttaraid, Delta's executive director.

"After finishing a feasibility study, we think that the project is not viable to invest in for the time being given the current market conditions," he said.

"But it does not mean we are cancelling it. The project, which would produce telecoms and computer parts, might be feasible to resume later."

However, Mr Anusorn said Delta would proceed with a plan to spend 300 million baht to acquire land and build a final assembly facility for low-end electronic components in India.

Thanks to low wages and attractive tax incentives in India, Delta since 1996 has developed production plants of power systems, uninterrupted power supply (UPS), telecom power supplies and electronics components.

Delta has set an ambitious target for sales in India to top US$1 billion over the next seven years, up sharply from last year's estimate of $150 million.

Meanwhile, Mr Anusorn said Delta aimed to downsize the local manufacturing base in Thailand, currently employing 10,000 people, on expectations of weaker sales performance next year.

Delta, the biggest electronic parts company on the Stock Exchange of Thailand, forecast that its revenue would fall by 20% in the first quarter of 2009 compared to the same period of 2008, said Mr Anusorn.

Early this year, 400 staff are expected to leave their jobs on a voluntary basis and Delta has no plan to replace them, he acknowledged.

The company would also cut the headcount at the plant in Slovakia by 10% from the existing 1,000, while maintaining the workforce of 600 to 700 personnel at its telecom power unit in Brazil, he added.

"Since the beginning of the fourth quarter of 2008, we have found market conditions beyond our control with clients with good track records starting to report financial problems," he said.

"Consequently, we realised that we can't stay still and have to cut expenses as much as we can."

He projected that the slump in the global electronics industry would continue throughout the first two quarters of 2009 before bottoming out in the third quarter. After that the recovery would start to be seen in the high-end computer market first.

Thanks to the company's solid financial performance, Mr Anusorn said, Delta was well-positioned to weather the market slowdown. The company is debt-free with cash on hand of more than six billion baht.

As well, it has penetrated the new high-potential Middle East and African regions to offset shrinking sales in existing major markets such as Latin America, Europe and Japan.

At present, about 40% of Delta's sales are generated from the US market alone.

In the three months to Sept 30, 2008, Delta posted a 10% annualised increase in net profit to 882.8 billion baht despite a foreign-exchange loss of 61 million baht. Quarterly revenue rose 16.8% year-on-year to 9.17 billion baht.

Despite the expected weaker sales in 2009, Mr Anusorn said Delta would be able to maintain operating profit at 20% of total sales.

The company has hedged almost all of its foreign currency exposure to manage possible fluctuations, and also asked clients to offer insurance coverage for all payments in the face of poor global financial conditions.

DELTA shares closed on the SET last Tuesday at 12.20 baht, up 40 satang, in trade worth 2.6 million baht.

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[birkos]

Wie wärs denn mal in Deutsch (Infos)????

so ist das schnell erledigt hier.

[mr.lukoil]

Antwort auf Beitrag Nr.: 36.400.676 von birkos am 19.01.09 09:07:41

soll das ein Witz sein? Internationale Wirtschaftsnachrichten werden ja wohl nicht auf Deutsch verfasst....

[14400_I]

Vielleicht fragst Du auch mal auch mal Aktien-Besitzer die in Thailand leben.
Ich lebe seit 4 Jahren 11 Monate jährlich in Thailand - und bis auf Restbestände von Kasikorn habe ich nichts mehr aus dem SET.

Die Touristen-Hochsaison ging daneben - Thai Airways im Sturzflug -die Zentren Phuket, Koh Samui oder Pattaya haben in der Hauptreisezeit miese Auslastung und zittern vor der Nebensaison.
(z.b. das neue Klientel aus GB mit dem schwachen Pfund.....)

Reis, ist wieder im Minus und immer mehr Produktionsstätten werden von Thailand nach China verlagert.
Da ich auch mit einer Thai verheiratet bin ......... alleine in diesem Monat erhielt ich 4 Anrufe aus der Verwandtschaft, ob ich nicht Arbeit vermitteln könnte. Etwas was ich vorher nicht kannte.

Dass die Immobilen-Branche vor dem Zusammenbruch steht muss man ja wohl nicht erwähnen - die ersten Bauruinen sind zu besichtigen und mancher Käufer kann seine Anzahlungen in den Wind schreiben.

Soviel "vor Ort" aus Thailand - für Einzelfragen offen.

[marvessa]

Antwort auf Beitrag Nr.: 36.400.243 von lapamita am 19.01.09 05:08:25

welche Investmentpläne für Europa sollen das gewesen sein ?

Delta puts $50m India plant on hold
Thai operation to shed 400 jobs ...anmerkung auch die investmentplaene fuer europa sind auf eis

[lapamita]

at marvees
delta hatte im zeitungsartikel gesagt das sie 200mio usd fuer guenstige kaeufe von techunternehmen ausgeben wollen in europa,,genau deshalb will ich die artikel sammeln ,um genau nachzusehen und schnell , was geplant ist usw.

Central freezes investment
By: PITSINEE JITPLEECHEEP
Published: 21/01/2009 at 12:00 AM
Newspaper section: Business
Central Retail Corporation (CRC), the country's largest retail operator, will temporarily delay its 10-billion-baht investment plan this year because the economic and political situation is not stable.


Tos Chirathivat, the company's president and CEO, said CRC would be more cautious and conservative about expanding this year due mainly to economic and political uncertainties.

''We will consider our investment plan again in the third quarter of this year when we expect that the local economy will improve following the implementation of stimulus packages by the Abhisit Vejjajiva government,'' he said yesterday.

He added that the new government had acted very fast to introduce various stimulus economic measures, which should lift consumer confidence.

''We believe that local economy and people's consumption will improve within the next six to eight months,'' Mr Tos said.
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TECHNOLOGY
Seagate to lay off up to 800 local workers
21/01/2009 : At least 6% of Seagate Technology Inc's 13,000 employees in Thailand will be laid off as part of a global workforce reduction by the world's top hard-disk drive (HDD) maker. The company is currently offering a voluntary retrenchment programme to the 13,000 people who work at its factories in Nakhon Ratchasima and Theparak district in Samut Prakan.
All Stories
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40,000 auto parts jobs face the axe21/01/2009 : Up to 40,000 permanent workers in the auto parts industry are at risk of losing jobs as car assembly production dropped by an estimated 40% this month, according to Damri Sukhotanang, the permanent secretary of the Industry Ministry

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SECC faces delisting if net asset falll short due to fraud

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,

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ELECTRONICS

Salee feels pinch from IT, auto slowdowns By: DARANA CHUDASRI
Published: 26/01/2009 at 12:00 AM
Newspaper section: Business
Salee Industry, a listed manufacturer of plastic parts for electrical and electronic appliances, has cut back its growth forecasts to 10% in 2009 compared with 30% growth last year due to declining orders from the electronics and auto industries.


Managing director Sathit Tatawatorn said the company's main customers were Japanese OEMs (original equipment manufacturers) and subcontractors with production plants in Thailand and abroad.

"Purchasing orders in December and January fell visibly as a result of the global downturn," he said.

"So we are revising our plans to shift more production to plastics for consumer products, such as vacuum bottles or food containers, where demand remains strong. Hopefully, this will compensate for the decline in demand from the electronics and auto industries."

Sales to electronics and auto customers are expected to fall to 35% of total sales in 2009 from 50% last year.

The machine and die-casting company SC Wado, a 75%-owned Salee subsidiary, also expects falling sales this year.

Mr Sathit said the company was tightening spending and cutting costs as possible. "Staff layoffs will be the last option. We're focusing on saving costs through utilities expenses first," he said.

He said the company hoped to maintain gross profit margins steady at 30%, thanks to revenues from its printing unit. Salee holds 99% of Salee Printing, a manufacturer of high-quality labels and stickers.

Shares of Salee closed on the MAI on Friday at 1.93 baht, down nine satang.

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SHIPPING
Laem Chabang traffic drop unprecedented
26/01/2009 : Traffic through Laem Chabang Port has dropped for the first time in its 18-year history in light of the global recession, with port authorities and freight operators expressing concerns over declines in cargo shipments.
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Major Asia Pacific airlines including Thai Airways International ended 2008 with lower passenger and freight traffic than in 2007 as they were battered by high oil prices and slumping demand.
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Hotel occupancy set to plunge 10-30 points across Thailand
By: CHADAMAS CHINMANEEVONG
Published: 24/01/2009 at 12:00 AM
Newspaper section: Business
Hotel occupancy will decrease by between 10 and 30 percentage points in all regions of the country this year, according to the Thai Hotels Association (THA).


Echoing the hoteliers' gloomy outlook for the hospitality sector, the Association of Thai Travel Agents (ATTA) has predicted 12 million tourist arrivals this year, 14% fewer than the Tourism Authority of Thailand's forecast of 14 million.

The THA expects hotels in Bangkok to see occupancy rates slide by as much as 27 percentage points, the South by 15-20 points, the North 20 points, the Northeast and East 10 points each.

In the first quarter, advance reservations at five-star hotels in the capital are 50%, down from 78% a year earlier. Other top destinations show a similar trend. In Phuket occupancy has sunk to 48% from 82%, in Samui to 45% from 67%, and in Krabi to 18% from 34%.

THA president Prakit Chinamourphong said tourism would be harmed this year by many ongoing negative factors such as local and global economic slowdowns and concerns about the longevity of the new government.

"In the first quarter of this year, the hotel business faces a very hard time. Above all, we cannot predict the situation in the rest of the year because we believe that some political uncertainty still remains," he said.

Around 65 new hotels with a total of 11,150 rooms will enter the national market this year. Bangkok openings will set a record, having been planned a few years ago when the economy was strong, and a price war looks inevitable.

The association said hotel operators in the North would focus on the local market - especially the meeting, incentive, convention and exhibition (Mice) segment - and hope for government support. Hotel operators in the South said international tourists were still concerned about possible airport closures and the government must restore their confidence as soon as possible.

The ATTA expects international tourist arrivals to drop, causing the TAT to miss its target of 14 million arrivals this year. But president Apichart Sankary sees potential for a boost from the Asean Summit next month in Hua Hin. "The Asean Summit is our last hope. If everything goes well, the country's tourism image should improve indirectly," he said.

The steepest declines among international tourists are expected from the US, the UK, Germany and Japan. Arrivals from Scandinavia, France and the Netherlands are expected to hold up better.

China, India, Russia, the Middle East and Korea have high potential, but the ATTA expects only 800,000 Chinese tourists this year, lower than the TAT's forecast of 1.2 million. Chinese arrivals in January are down by 60% so far.

[lapamita]

EMPLOYMENT
Another 30,000 electrical and electronics jobs at risk
28/01/2009 : Local employment conditions are worsening, particularly in the electronic and electrical industry, with another 30,000 workers likely to lose their jobs, said Charuek Hengrasmee, the president of the Electrical
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SAHA UNION LET BUT WEAKEN URGE TO PM

29/01/2009 : The government could raise the competitiveness of Thai exports by allowing the baht to weaken, according to Saha Pathana Inter Holding, part of the Saha Group, the country's consumer product manufacturing conglomerate. President Boonsithi Chokwatana made the comment following a meeting to discuss business
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FPO ESTIMATES 3,5% SLIDE IN ECONOMY

30/01/2009 : The Thai economy contracted by as much as 3.5% in the fourth quarter, according to the Fiscal Policy Office
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QH slashes investment to 8 year low

29/01/2009 : The listed developer Quality Houses Plc is downsizing its investment budget to its lowest level in eight years due to the country's sluggish economy, said CEO Rutt Phanijphand.
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L.P.N. keeps 10% groth goal
29/01/2009 : The condominium market leader L.P.N. Development Plc is maintaining a sales growth target of around 10% as government incentives will likely spur market demand, according to managing director Opas Sripayak
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SCG post 45% net profit drop


29/01/2009 : Siam Cement Group (SCG), Thailand's largest industrial conglomerate, posted a net loss of 3.48 billion baht in the fourth quarter of 2008, its first quarterly loss in 11 years, president Kan Trakulhoon said yesterday.
________________________________________________________________
PORT SLOWDOWN DEEPENING

30/01/2009 : Tips Co, the first container terminal operator at Laem Chabang Port, expects two consecutive years of traffic contractions after container throughput last year fell by nearly 10%, the first decline in the port's history.
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BANKING
KK foresees zero growth in auto loans 30/01/2009 : Kiatnakin Bank (KK) expects zero growth for its auto loans this year due to the weak economy.

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post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
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post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN,


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Kanyong Electric sees slump in demand
By Kwanchai Rungfapaisarn
The Nation
Published on February 7, 2009




Company sets 2009 sales-growth target for home appliances at 3%




Growth in local demand for electrical home appliances is expected to decline significantly this year, resulting in a less than a 1-per-cent increase in sales.


To stay in line with both slowing growth in demand and the downturn in the property sector, Mitsubishi Electric Kang Yong Watana, the local sales and marketing arm for Mitsubishi Electric home appliances, has set a sales-growth target of 3 per cent to Bt7.6 billion for its fiscal 2009.


The company's fiscal 2009 will run from April 1 to March 31, 2010.


Mitsubishi Electric Kang Yong Watana proclaims itself to be the leader in both air-conditioners and refrigerators, with market shares of 29 per cent and 23 per cent, respectively.


The company expects to achieve sales of Bt7.4 billion in fiscal 2008 ending this March 31, up 4.23 per cent from Bt7.1 billion in fiscal 2007.


"We expect overall market growth to decline significantly this year. In these difficult times, consumers have less purchasing power. Many companies selling electrical home appliances have slashed their prices to gain more customers, thus causing the total sales value of electrical goods to decline even more," said Anun Bunjerdtum, director and general manager for marketing and sales.


He said his company predicted the overall market for electrical home appliances would grow 5 per cent in volume, or unit sales, this year but less than 1 per cent in sales value.


That projection is much lower than during previous, more normal economic circumstances, when home appliances enjoyed sales growth of more than 10 per cent.


"We've been seeing signs of a downturn since last October, when our growth slowed to only 3-5 per cent," said Anun.


However, Anun said Mitsubishi had been less affected by the present economic turmoil than has other players in the market.


"We've applied a strategy we call 'Select and Focus' to counter the economic difficulty. Under this, we select core products that we're quite strong in, such as air-conditioners, refrigerators, ventilators, electric fans and water pumps, and focus on those," he said.


Anun said Mitsubishi Electric Kang Yong Watana would allocate its advertising and marketing budgets more cautiously this year. The funds will be better targeted and used more efficiently.


The company has earmarked Bt600 million for advertising and marketing expenditures this year.


Anun said overall demand for air-conditioners in Thailand was expected to increase only 4 per cent this year to 740,000 units, while that for refrigerators would increase only 2 per cent to 1.32 million units.


He said demand for electric fans would increase only 2 per cent to 3 million units.


"Due to the downturn in the local property sector, demand for ventilators is expected to be stagnant this year, about 420,000 units. Growth in demand for water pumps will decline from 6-7 per cent previously to only 3 per cent, or about 320,000 units," said Anun.
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RATCHABURY ELECTRc

reported that it had signed shareholder agreements for the establishment of two companies, Hongsa Power and Phu Fai Mining. The companies are joint investments between Ratchaburi, Lao Holding State Enterprise and Banpu Power to operate the 1,878-megawatt Hongsa power plant and engage in lignite mining in Laos.
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Central Group delays two mallsBy Kwanchai Rungfapaisarn, The Nation
Published on February 10, 2009




The Central Group has delayed the construction of two shopping malls in Chiang Rai and Chiang Mai due to the deteriorating economic climate.
Central Pattana, the group's retail and property-development arm, had planned to build two new malls this year. However, despite the current low cost of construction due to a decline in the prices of raw materials, the firm is not sufficiently confident that consumers' purchasing power will recover in the short term to risk starting construction of two malls, a Central Pattana executive said.

The firm is still committed to both projects, however, and will proceed when the time is right, the executive said. Chiang Mai city, he said, still has great investment potential and continues to grow. The province as whole has about 1.6 million residents and draws more than 5 million tourists a year.

Tos Chirathivat, CEO of Central Retail Corp (CRC), the group's retail arm and Thailand's largest retailer, announced that implementation of the firm's Bt10-billion domestic investment budget for 2009 would be delayed. The group is adopting a cautious approach in this time of economic uncertainty, which has dented consumer confidence and sapped spending power, he said.

Among the many difficulties facing Thai retailers is the sharp decline in international tourist numbers.

"This will be a less active year for CRC because we want to see the economy stabilise and people's spending pick up [before making further investments]," Tos said.

The planned low-rise shopping mall in Chiang Rai, expected to cost between Bt1 billion and Bt2 billion, would be developed on a 30- to 40-rai plot near a Big C Supercentre with a Robinson Department Store as its main retail anchor, said Prin Chirathivat, the Central Group's executive director for finance.

The firm plans to spend Bt5 billion to build its second Central Plaza shopping complex in Chiang Mai on 70 rai on the northern city's superhighway near Doi Saket Road, Prin said.

With gross space of 250,000 square metres and a net saleable area of 100,000 square metres, the Chiang Mai project will be the largest retail complex in the North, featuring a Central Department Store, Tops Market, Power Buy outlet, Super Sports branch, a fitness centre and more than 200 retail shops.

The interior and exterior will feature a "Modern Lanna" decoration scheme showcasing the region's cultural heritage. About 4,000 people are expected to be employed there.
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"The new shopping complex in Chiang Mai will be the true lifestyle hub of the northern region, where customers can come in to catch up with the latest trends as quickly as in Bangkok," Prin said.

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post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco

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Seafco looks upcountry as Bangkok market slows
By Sucheera Pinjparakarn
The Nation
Published on February 10, 2009




Construction firm Seafco expects its performance to improve this year over 2008 as gains upcountry offset setbacks in the capital.
The company, which specialises in bored-piling projects, plans to bid for projects in the provinces to make up for a slowdown in Bangkok, said Seafco president Narong Thasnanipan. Developers are expanding upcountry, presenting an opportunity for Seafco, he said.


"We have won at least five projects this year already, compared to an annual total of 12 projects in previous years, which shows that the provincial market has great potential. However, the value of individual projects is lower in the provinces than in Bangkok," he said.


Condominiums and hotels account for most provincial projects, he said.


The company is not reducing its presence in Bangkok, however.


Looking to increase revenue amid the economic uncertainty, Seafco plans to offer deep-foundation work in addition to its piling services, Narong said.


"Bored piling is our main revenue source, but we do deep foundations as well, and plan to push this service more aggressively," he said.


The company has a project backlog of about Bt1.7 billion, of which Bt700 million will be realised this year.


Lower costs for materials and more stable oil prices have improved the firm's liquidity, Narong said.


The Purple Line urban rail project is another opportunity for Seafco, which hopes to be a subcontractor for the main bidders on the project.


"State agencies' projects account for 40 per cent of our work, so the Purple Line could see an expansion in our backlog," Narong said.


The company has not set a precise revenue target for 2009 revenue but hopes it will grow from last year, he said.


Siam City Securities said the provincial projects would boost Seafco's revenue 10 per cent to Bt1.66 billion, while lower materials prices will improve the firm's gross profit margin. The securities firm forecast profit this year of Bt42 million for Seafco, up 5 per cent from last year.


Seafco's stock closed unchanged at Bt2.74 last Friday.
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Dusit sees two tough yearsBy Suchat Sritama
The Nation
Published on February 11, 2009




Dusit International, one of Thailand's largest hotel chain operators, has warned that the country's hotel business faces two years of tough market conditions because of the global economic crisis.
"I believe the hotel business in Thailand will be in difficulty over the next two years," group senior vice president Octavio Gamarra said yesterday.


He said the economic crisis along with many other negative factors would dominate the sector in 2009 and 2010.

This represents the longest negative projection to date for the local hospitality sector. Recently, the Tourism and Authority of Thailand and private tourism associations estimated that business in the overall tourism sector would drop over the next six months.

Oliver Winzer, Amadeus's regional director Asia and head of IT and hospitality, said business travellers and executives would make fewer, shorter and cheaper business trips in 2009 and switch from luxury extras in favour of basic efficiency and good service.

He also said Asia-Pacific travellers were now more price-conscious than ever and were spending more prudently.

"Hotels are urged to prepare more marketing tools in the tough competition this year," he said.

Gamarra said the Dusit group would focus more on the meeting and corporate markets this year, revising its strategic plans accordingly.

The group has launched a "Meeting Planner Gift Collection Rewards 2009" campaign, which aims to boost meetings, incentives, conventions and exhibitions (MICE) business from Asia as well as locally. This is its first such campaign.

The group's global director of sales, Simon Burgess, said it would approach short-haul intra-regional markets, targeting Japan, Singapore, Malaysia, Hong Kong, China and India.

The group is giving free room nights and extra free services as well as food and beverage vouchers worth up to Bt8,000 for MICE customers booking 20-100 rooms per night for at least two consecutive nights.


The offer is valid for stays until the end of the year.

Dusit is aiming for 40 per cent of its MICE business from international markets and 60 per cent from the domestic market.

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Slump, price war hit cal-comp profit
By The Nation
Published on February 13, 2009




Leading electronic-component manufacturer Cal-Comp Electronics (Thailand) recorded a decline in net profit for 2008, due mainly to the global economic crisis. The poor performance has continued into 2009, as January sales dropped by 3 per cent year on year.
Meanwhile, broker Ayudhya Securities predicts a price war in the industry will likely cause the company's gross profit margin to dip further.

Cal-Comp posted net profit of Bt2.1 billion, a decline of 26.65 per cent from Bt2.9 billion in 2007. The company's sales revenue of Bt123.28 billion was up 31.4 per cent from the year before, but cost of goods sold was Bt118.95 billion, or 96.49 per cent of sales revenue - an increase of 95 per cent on 2007.

So, the gross margin last year declined from 7.98 per cent in 2007 to 3.51 per cent.

"The decrease of net profit in 2008 resulted from intense competition in the electronics manufacturing market. The world economic slowdown also prevented the company from passing on costs or increasing product prices," Cal-Comp stated in its filing to the Stock Exchange of Thailand yesterday.

Cal-Comp also had an exchange loss of Bt245.65 million because of the fluctuation of the dollar/baht in 2008.

Ayudhya Securities said in its research that Cal-Comp booked sales revenue of Bt8.1 billion last month - the first time in five years that the company's sales had dropped in January.

In addition, most of Cal-Comp's production is in consumer electronics components, a volatile area sensitive to consumer confidence.

The broker said although Cal-Comp's sales revenue in baht terms had dropped only 3 per cent, the figure was weaker than Ayudhya Securities had estimated. It forecasts Cal-Comp's sales revenue this year will grow by 11 per cent on last year.

However, it remains concerned over Cal-Comp's profitability, as consumer-electronic component production faces fiercer competition from price wars than other electronic products.

Cal-Comp's gross profit margin in the third quarter last year was 2.7 per cent. Therefore, Ayudhya Securities says it will revise Cal-Comp's performance this year after the company announces its 2008 operating results this month.
////////////////////////////////////////////////////////////////

Thai Oil to continue to run refinery at full capacity
By Watcharapong ThongrungThe Nation
Published on February 14, 2009




Thai Oil, the nation's biggest refiner, will continue to run its refinery at full capacity this year despite the decline in domestic and global oil demand, as it has confidence in its cost-competitiveness.
Its board approved an investment ceiling for this year of US$500 million (Bt17.5 billion) on Thursday.


Viroj Mavichak, managing director of Thai Oil, said yesterday that the company would continue to keep its production capacity at the maximum level of 275,000 barrels per day this year, because its refinery costs are lower than those of its competitors.


"This year, we are producing refined oil at the cost of the crude oil in the inventory, at around $40 per barrel, and we expect the crude oil price in the market this year will not fall further than this," he said.


He said that out of the $500-million investment budget, about $10 million would initially be spent on each of the projects of its subsidiaries: extending production capacity for paraxylene, creating added value to toluene, and treatment of distillate aromatic extract, which is a raw material for tyre production.


The refiner posted a consolidated net profit of Bt223.6 million last year, a sharp fall from Bt19.11 billion a year earlier, due to the decline in crude prices cutting the value of its inventory.
//////////////////////////////////////////////////////////////
BECL expects 5% gain in revenue
2008 vehicle traffic down for first time
By: NAREERAT WIRIYAPONG
Published: 14/02/2009 at 12:00 AM
Newspaper section: Business
Bangkok Expressway Plc (BECL), the SET-listed expressway operator, is optimistic about its performance this year despite the slow economy, projecting toll revenue to increase 5.42% to exceed 7 billion baht. Managing director Payao Marittanaporn said 2009 would mark a major turnaround for BECL's business, which last year experienced the first-ever drop in expressway traffic by 6% or 60,000 trips to an average of 924,670 daily.

Toll revenue also dipped 4.15% or 800,000 baht from a year earlier to an average of 19 million baht per day.

''This year we expect to see relatively flat traffic at about 920,000 trips a day but toll revenue is projected to rise by 5.42%,'' she said yesterday. ''The increase is quite substantial compared to our average growth of 2-3% annually in the past.''

The major reasons for the decline last year were high oil prices, which peaked at $147 a barrel in July before plunging in the second half, and the opening of the Southern Ring Road as about 40,000 daily expressway commuters switched to the free loop that runs from Dao Khanong to Samut Prakan.

Meanwhile, the five-baht increase of BECL expressway toll fees in November resulted in a decrease of 3% in traffic, Mrs Payao said.

But January figures showed improvement with toll revenue rising 6.7% year-on-year to 20.1 million baht daily. Traffic was still down but at a decelerating rate of less than 3% from the same period of 2008.

The economic slowdown and the increase in toll fees would prevent BECL traffic from growing this year, said Mrs Payao, despite the anticipation that up to 15,000 commuters would return to its expressways after the Southern Ring Road operator starts collecting tolls in March.

She declined to comment on the company's fourth quarter earnings and full-year results of 2008 pending their release to the Stock Exchange of Thailand on Feb 25. However, she insisted that net profit of last year was unlikely to be lower than the 1.4 billion baht posted in 2007.



The bottom line would be further improved this year from 2008, she said, citing the expected decrease by 60 million baht in total expenses this year.

The forecast is in line with analysts' estimates. Kim Eng Securities anticipates BECL revenue to rise 5% this year to 7.34 billion baht from an estimated 6.95 billion in 2008. Net profit is targeted at 1.54 billion baht, up from 1.27 billion in 2008.

Mrs Payao said BECL might consider issuing debentures worth 3.5 billion baht this year or next year to cash in on low interest rates, as it sees the opportunity to raise cheap funds to maintain strong liquidity.

''We are in no rush to raise liquidity because we already have reserved one billion baht in cash from last year in case of any emergency this year,'' she said, adding that 2009 would be tough for all businesses to forecast.

''The January figures are encouraging for us but we still don't know what is going to happen in the rest of the year to the economy. If exports fall sharply and a very large number of people lose jobs, that would ultimately affect expressway traffic.''

BECL shares closed yesterday on the Stock Exchange of Thailand at 16.40 baht, up 30 satang, in trade worth 36.68 million baht.


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post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg

STOCK EXCHANGE
Siam Cement shares rumour causes panic
24/02/2009 : Investors flooded the switchboard of the Thailand Securities Depository yesterday following a report that fake share certificates of blue-chip industrial giant Siam cement
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THAI RECESSION LIKELY

24/02/2009 : The country's economy shrank more than expected in the fourth quarter last year, as exports and tourism slumped, with growth this year forecast between -1% and 0% due to the lingering global recession
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TUF fishing for new markets By: CHAROEN KITTIKANYA
Published: 24/02/2009 at 12:00 AM
Newspaper section: Business
Thai Union Frozen Products Plc (TUF), Thailand's largest tuna exporter, remains upbeat on achieving a 12% rise in revenue this year despite lingering volatile raw material prices and the global recession.

"We anticipate that raw material prices will be moderately volatile this year," said president Thiraphong Chansiri. "Tuna prices jumped swiftly to US$1,250 per tonne from an average of $850 late last year."

But he sees the weak baht as favourable and expects little impact from the global recession as TUF products are viewed as basic food items with affordable prices.

According to Mr Thiraphong, TUF is trying to expand into markets like Russia and the Middle East while also maintaining its existing customer base.

"Japan is another promising market this year because Thailand is poised to carve more market share in Japan through improved import tax benefits under the Japan-Thailand Economic Partnership Agreement (JTEPA). Also, the strong yen will contribute positively to our business," he said.

"China's problems with food safety standards have encouraged Japan to turn to other countries for more reliable food products. We will place more weight on value-added products to better serve Japanese consumers."

TUF's annual sales broke the US$2 billion mark in 2008 and net profit nearly reached its all-time high set in 2003.

Last year's sales in dollar terms were US$2.069 billion, up by 28% from $1.61 billion in 2007. The figures represented a 24% increase in baht terms from 55.507 billion in 2007 to 69.04 billion in 2008.

Total annual revenues were 69.51 billion, representing 24% year-on-year growth from 56.06 billion.

The company posted annual net profit of 2.2 billion, 21% growth from 1.82 billion in 2007. Earning per share was 2.51 baht, up by 21% from that of 2007.

For the fourth quarter last year, TUF registered growth both in dollar and baht terms. Sales in dollar terms increased by 17% from $450.7 million in 2007 to $528.1 million in 2008.

However, quarterly net profit was only 307.1 million, a decline of 31% from 443 million baht in 2007 due mainly to a sharp reduction in tuna prices during the quarter to $1,173 per metric tonne on average from an earlier rate of $1,900 per metric tonne.

Shares of TUF closed yesterday at 19.5 baht, down 20 satang, in trade worth 10.83 million baht
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SCG warns in drop of cemntsales24/02/2009 : SCG Cement, the country's largest cement maker, forecast its sales volume this year would shrink by 16% to 15 million tonnes from 18 million tonnes last year in line with the market slowdown. The sales drop is in line with the fall of cement consumption in the domestic market, which could decline by 10% from 25 million
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CS LoxInfo maintains growth projection By: SRISAMORN PHOOSUPHANUSORN
Published: 23/02/2009 at 12:00 AM
Newspaper section: Business
CS LoxInfo, the internet service provider of Thaicom Plc, remains confident that it will ride out the economic downturn and retain earnings growth of 3% this year.

Managing director Anant Kaewruamvongs said CS LoxInfo expected business as usual despite the economic slump as the internet has proved to be a powerful tool to help reduce business operating costs.

He said broadband was actually considered a utility, relatively unscathed by the downturn as many consider it essential.

CS LoxInfo plans to offer relaxed measures on service contracts to help its corporate customers to reduce expenses.

Mr Anant said that even though many companies were struggling with the downturn, CS LoxInfo still focused on the corporate segment, which now contributed 80% of total revenue.

Even with increased corporate churn, he said new clients could offset any losses.

CS LoxInfo posted a net profit of 161 million baht on consolidated revenue of 2.66 billion baht in 2008, up 3% from a year earlier. But net profit decreased from a year ago, which it attributed to an increase in costs and marketing expenses.

It reported fourth-quarter consolidated revenue of 678 million baht, unchanged from a quarter earlier. Of total earnings, the internet business generated 18 million baht in revenue, telephone directories 23 million and the printed classified business 18 million baht.

Mr Anant said the company would adopt a conservative strategy this year as well as freeze new investment projects. It also needs to carefully monitor spending, control overhead costs and cut unnecessary expenses.

CS LoxInfo recently relocated its internet facility to a new rental office building on Ratchadaphisek Road, with an investment cost of 200 million baht.

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40.000 autojobs at risk in thailand

21/02/2009 : A government bailout plan for the automotive industry should help the industry maintain capacity utilisation of at least 70%, otherwise up to 40,000 jobs are at risk, according to Industry Minister Chanchai Chairungruang. ''We hope the reduction in excise tax and soft
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Exports decline 26.5% in January
Import drop suggests worse yet to come
By: PHUSADEE ARUNMAS
Published: 20/02/2009 at 12:00 AM
Newspaper section: Business
The value of Thailand's exports fell in January by the most in 18 years as the deepening global recession curbed demand for Thai and Asian products. Shipments for the month were worth US$10.49 billion, down 26.5% from a year earlier, said Siripol Yodmuangcharoen, the permanent secretary for the Commerce Ministry.



The January contraction followed a 14.55% year-on-year decline in December and a 20.47% slide in November. The contraction was the biggest since January 1991.

Exports were down sharply almost in all sectors with agricultural and agro-industrial shipments dropping 25.6% to $1.66 billion and industrial goods falling 24.5% to $7.2 billion.

Thai shipments also fell to all market destinations. The decline was 28.2% to traditional key markets such as the United States, Japan and Europe, and 26.4% to secondary markets including Hong Kong, Taiwan and South Korea.

Even exports to emerging markets seen as having better potential were off 30.6%.

According to Mr Siripol, imports also fell in almost all sectors, with energy down 53.4% in value, capital goods down 29.5%, raw materials down 41.9%, consumer products down 17.9%, vehicles and transport down 18.7%.

Imports as a result contracted 37.6% to $9.12 billion after a 6.52% decline in December, which had been the first drop since May 2002.

''Thailand is not the only country that saw exports fall in January,'' said Mr Siripol.

''Shipments of other countries also contracted accordingly. Exports from China, for instance, contracted 17.4%, Japan was down 46.1%, Singapore 37.8%, Vietnam 24.2% and Taiwan 40%. We can't say whether our exports have reached bottom.''

In the face of declining exports in January, Mr Siripol said the government might have to revise its export projection for the year, set earlier at 3% growth to $183.17 billion.

Ministry officials will meet with Thai Trade Center executives and commercial counsellors on Feb 25 and 26 to re-evaluate strategies for this year.

''We are afraid Thai exports will fall further as imports, notably raw materials and capital goods [for production], are shrinking,'' said Mr Siripol.

As well, export prices in almost every category have been falling in line with easing oil prices and production costs, noted Rachane Potjanasuntorn, the director-general of the Export Promotion Department.

Aat Pisanwanich, director of the Centre for International Trade Studies of the University of the Thai Chamber of Commerce (UTCC), said that given the January figures, Thailand's exports were expected to contract by up to 6% this year.

He said a double-digit contraction was even possible if the world economy does not start to show signs of recovery in the third and fourth quarters of the year.

''What the government needs to do right now is to conduct scenario planning analysis to evaluate the impact on Thailand's export performance if the world is still in a downturn like this, and examine how much the baht's weakness could help boost exports,'' he said.

''We have also to take into account whether the 'Buy American' bill which forbids the use of foreign labour and requires investors to set up companies in the United States would affect Thai exports, and in the worst case, what the government should do to curb that impact.''

Narongchai Akrasanee, the Export-Import Bank chairman, urged the government to make more use of free trade agreements under the Asean framework.

''Despite the declining purchasing power of Japanese customers, Japan is still promising for Thai goods as we can capitalise on the Japan-Thailand Economic Partnership Agreement (JTEPA) to boost exports,'' he said.

''New markets such as Africa and the Middle East and the markets where Thailand has already agreed on free trade agreements, such as India,and Australia, also deserve export interest.

Somchai Sujjapongse, the director-general of the Fiscal Policy Office, said that the weak export results were roughly in line with other countries in the region.

He added that the FPO had previously forecast that economic growth in the first quarter would fall ''significantly'' if not for the government's economic stimulus programme, due in part to high base effects. Growth in the first quarter of 2008 was 6%.



---------------------------------------------------------------
Delta continues mergersand acquisitions policy
By: NAREERAT WIRIYAPONG Published: 18/02/2009 at 12:00 AM
Newspaper section: Business
Despite forecasts that its revenue will erode due to the world financial crisis, SET-listed Delta Electronics (Thailand) Plc stepped up investments over the last year to US$200 million, mainly for mergers and acquisitions (M&A). President Henry Shieh said the company had cash of $200 million available for ongoing M&A, and some deals conclude later this year. The capital outlays are $35-40 million higher than in 2008.

Renewable energy is the focus of investments in countries where Delta has a presence: India, Brazil, the Middle East, Europe, and the United States.

''We have negotiations about M&A every week as some companies are in need of cash. Some investments could be made this year if there is the opportunity to grow our revenue,'' he said.

The company aims to double revenue in three to four years from $1 billion in 2008, of which $700 million is generated from Thai operations, added Mr Shieh.

In its filing to the Stock Exchange of Thailand yesterday, Delta reported total revenue of 32.85 billion baht last year, down 3% from 2007. Net profit also dipped 8% to 2.89 billion. In the fourth quarter, net profit decreased to 590 million baht from 940 million in the same period of 2007. Total revenue also fell 9% year-on-year to 7.71 billion baht.

Mr Shieh said Delta's revenue would dip slightly in 2009 as IT spending has been reduced globally amid a consumer confidence crisis while several companies are filing bankruptcy cases.

He said the company's 13,000 employees would not be affected from the slowdown for the time being.

''We might look at that later but I think we don't need job cuts,'' he said.

According to Mr Shieh, Delta will focus on potential growth areas such as solar power as its global market value is expected to top $1 billion in the next three to five years from $600 million at present.

Delta hopes to double its revenue generated from solar power to $20 million this year from last year.

Analysts said Delta's 2008 earnings were in line with the forecast but this year's outlook is slightly weak partly because of major revenue contribution from the telecom sector and concentration at its low-cost base in India.

Tisco Securities projects Delta's revenue to decrease to $970 million in 2009 from $981 million, but said it was likely to outperform competitor Hana Microelectronics Plc, whose products have greater exposure to the global slowdown.

Delta shares closed yesterday on the SET at 10.70 baht, up 20 satang, in trade worth 20 million baht
-----------------------------------------------------------
Downturn means upturn for frozen food firms
By SUCHEERA PINIJPARAKARN
THE NATION
Published on February 23, 2009




Prospects for the frozen ready-to-eat food business appear bright this year, as the products' prices suit consumers' current low purchasing power, manufacturers said.
Makers of ready-to-eat goods have launched more products to serve the rising demand.


Chomthana, producer of the Cremo ice-cream brand and Star ready-to-eat dim-sum brand, has seen sales of the latter reach Bt10 million a month.


Amphol Wanwattana, the company's general manager for sales and marketing, said last week that frozen dim-sum products, introduced two years ago, now contribute 20 per cent of Chomthana's sales revenue. The rest is from the firm's ice-cream business.


Star's frozen ready-to-eat products are sold through both modern-trade and outside channels.


The success of Star's dim-sum line has seen Chomthana focus more on this market, something it has been able to do thanks to its strengthened logistics and distribution systems. The company plans to increase production capacity for dim-sum products to 200,000 pieces a day from 100,000 in response to the rising demand.


Amphol said the frozen dim-sum products are aimed at middle- and lower-income customers including youth and students. The products sell for between Bt5 and Bt15.


In addition to its modern-trade channels, the company plans to sell roti flour balls via pushcarts and to launch frozen bakery products to serve hotels.


"Many hotel operators are looking to cut the cost of dessert items by using frozen-bakery services. This is an opportunity for us to increase sales revenue," he said.


Amphol said the frozen-food market still has great room for growth. Chomthana targets sales growth of 15 per cent this year from last year.


Prantalay Marketing, a leading frozen-food manufacturer, expects sales revenue from the domestic frozen-food market this year of Bt1.2 billion, up 20 per cent from last year.


Anurat Khokasai, chief marketing officer and chief operations officer, said the convenience and low price of ready-to-eat products suited people's fast-paced lifestyles and current reduction in purchasing power.


The frozen ready-to-eat food market is expected to grow more than 10 per cent this year from Bt3 billion last year, he said.


Prantalay produces frozen ready-to-cook seafood, which represents 30 per cent of total sales; frozen ready-to-eat meals (30 per cent); sushi (35 per cent); and Click brand meals, which account for the remainder.


The company plans to launch more ready-to-eat products aimed at health-conscious consumers, Anurat said.


Prantalay has a 90-per-cent share of the ready-to-cook market, he said, and is co-leader of the ready-to-eat market with S&P and CP Foods.


The economic slowdown will benefit the frozen ready-to-eat business because consumers are likely to go to restaurants less often in order to save money, Anurat said.


Exports by Thai Union Frozen Products, part of the Prantalay group, are expected to climb to Bt8.5 billion in 2009, up 10 per cent from last year.


According to Oishi Group, the frozen ready-to-eat market was worth Bt2 billion last year, up 15 per cent from the previous year.


The bright outlook for the ready-to-eat business has led Oishi to set a target for sales of its frozen and chilled foods this year at Bt700 million, up from Bt200 million last year. Oishi's frozen and chilled food packs entered the mass market last year through modern-trade channels and the 7-Eleven convenience store chain
-------------------------------------------------------------

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post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.


Solartron to build plants
By: NAREERAT WIRIYAPONG
Published: 10/03/2009 at 12:00 AM
Newspaper section: Business
SET-listed Solartron Plc, Thailand's first and largest solar panel manufacturer, is expanding to power generation by building solar-fuelled power plants this year to tap rising demand for clean energy.

According to chief executive Patama Wongtoythong, the movement is in line with Solartron's strategy to continuously explore business opportunities in areas of renewable energy in addition to solar system integrators.

With 23 years of experience, Solartron is the only renewable company trading publicly in the stock market.

"We have been approached by companies from Singapore, England, Germany, Denmark, Japan and India who are interested in providing us funding and buying carbon credits from our project," Mrs Patama said.

"Solartron is going to invest in small power plants fuelled by solar cells with capacity of up to 10 megawatts. Our first Solar Farm will be our new product champion this year," she added.

With an investment cost of 100-200 million baht per MW, solar power has enjoyed the highest "adder" tariff of eight baht per MW, compared to 3.4 baht granted to wind turbine energy and 0.80 baht for biomass plants.

Solartron is constructing an upstream solar cell factory in Pak Chong, Nakhon Ratchasima, with a capacity of 30 MW per year. The 1.1-billion-baht facility should be ready later this year.

The company use to import solar cells for assembly at its Sukhumvit factory, with 40% exported to Europe.

Solartron currently dominates 70% of the market share of government solar power projects. Sales to private customers, especially hotels and resorts, have increased gradually over recent years.

The company is launching solar water heaters from leading German maker Paradigma to the Thai market, targeting resorts, government hospitals, and industrial plants such as food producers.

Manufactured in China, the solar thermal starts at 30,00 baht for 150 litres of water. Investment in the system could break even in two years, she said.

The company has been granted a licence from the German maker to export to other markets in Southeast Asia.

Solartron in 2008 posted a 278% increase of revenue to 435.9 million baht as export markets were expanded, with a net profit of 2.2 million baht against a net loss of 90.9 million in 2007.

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economic slowdown. Ad spending for all media fell, save transit, which increased by 27.4% year-on-year. Total spending was 6.2 billion baht in February and 12.7 billion baht in the first two months of the year, a drop of 1.18% from the same period last year, according to Nielsen Media Research.
--------------------------------------------------------------
MINT expects revenue to grow 10%
10/03/2009 : Minor International Plc (MINT) expects its revenue to rise up to 10% this year, with an 8-10% gain
--------------------------------------------------------------

Thailand.


11/03/2009 : Bangkok Dusit Medical Services (BGH), the country's largest private hospital operator, expects the health-care industry to remain on an upward trend in the face of a poor economy.
-------------------------------------------------------------
ENTERTAINMENT
Grammy launches new satellite TV brand
11/03/2009 : GMM Grammy Plc, the country's largest entertainment firm, has established a new brand called GMM Channel to strengthen its five satellite TV channels.
----------------------------------------------------------------
OIL REFINING
RPC to use B5 fuel for 10% growth
06/03/2009 : The SET-listed oil refiner Rayong Purifier Plc expects its new biodiesel plant will raise its total revenue by 10% to 24 billion baht, said managing director Kanokporn Jarukulvanich. Its 500-million-baht plant in
--------------------------------------------------------------
NAVAKIJ'S PRUDENT APPROACH
By: SHAREINVESTOR Published: 6/03/2009 at 12:00 AM
Newspaper section: Business
The Navakij Insurance Plc was founded on Sept 23, 1933 as Luang Lee Insurance Co Ltd with initial capital of 400,000 baht. Operating today under the philosophy of "secured future with a dependable insurer", the company has its headquarters in Sathon with 26 branch offices and four sub-branches nationwide. Pitiphong Bisalputra, director, executive president and member of the risk management committee, discusses the company's strategy and outlook.BUSINESS:



Pitiphong: Slightly conservative policy
Please explain NKI's business model.

The Navakij Insurance Plc has been in business for more than 75 years and was the first insurance company to be established in the Thon Buri area. Our portfolio consists mainly of personal lines and small to medium-sized business accounts. Through our long experience in this segment we aim to increase our customer base through efficient services and innovative products.

We currently have 26 branches countrywide and thus we are in a good position to expand our customer base in provincial areas as well as provide a complete network of service area throughout the country.

Which types of insurance does NKI offer? What is the breakdown per insurance type?

The majority of our insurance is in motor insurance, representing close to 70% of our premiums, with the remainder split among property, marine and others. We are not exclusively in motor insurance, as we do write a mixture of all businesses. We write every class of non-life business, but the reason for the large portion of motor coverage is because the domestic market is like this, with more than 70% of the market as motor insurance.

How does NKI invest its assets. What is its target allocation per asset class?

The investment allocation per class is regulated by Office of the Insurance Commission (OIC); thus we manage our investments for the future of our customers within the OIC regulations. Besides, our investment policy is to be slightly conservative in order to ensure financial security to our policyholders.

Will NKI look to merge with or acquire smaller insurance companies to increase market share?

In 2004 we merged with International Assurance and two years after that with Thai Commercial Insurance. We also took over the non-life portfolio of Ocean Insurance in 2007. We currently hold a stake in Falcon Insurance (formally known as the Thai Commercial Insurance Plc). Thus, if opportunities exist we will have a look and see if they fit our requirements.INDUSTRY:

With more than 70 insurers in the industry how does NKI differentiate itself? And how does NKI see the industry progressing over the next few years?

As the education level and wealth of our society increases, customers are more demanding about all the products they purchase. Thus our customers need more and more sophisticated products to be delivered in a fair and efficient manner. Through experience and success from our mergers we have shown the flexibility to handle various types of customers while maintaining our goal of providing quality and fair treatment to all our customers.

How does NKI see the various type of products available changing over the coming years?

There's always a constant need for insurance because everything costs more these days. In the past we didn't have electronic equipment insurance simply because we had no electronic equipment. Thus as society develops there is an increasing need for people to purchase more insurance cover, such as for increasing health care costs and so forth. The world is changing rapidly and we have to constantly think of what insurance products our clients would require.FINANCIALS:

With the automotive industry expected to see a 30% drop in sales in 2009, and that the majority of underwriting fees from motor insurance, what will NKI do to offset this expected shortfall?

We will focus on customer retention, providing flexible coverage to our customers, look at more alternative distribution channels, perhaps underwrite more types of vehicles.

What do you feel are the biggest risks facing your business today?

Natural catastrophes are the biggest risk our industry faces despite all the attention being focused on economic conditions at this time. Weather patterns have change dramatically over the last few years. This year we faced one the longest and coldest cold spells in recent memory. Who knows what will happen in the rainy season? These changes must be factored into our premium calculation.

Have the global slowdown and local politics affected your business, if so how?

Yes, the first signs have already shown up in our marine insurance. Many of our existing customers have recorded a slowdown in their exports and thus we need to find more customers in order to compensate for this segment of the market. The second wave will be motor insurance which has already shown some signs of a slowdown.

Where do you see NKI in five years from now?

In five years from now we would like to be in the top 10 insurers. Currently ranked 21st in terms of premiums, we see a lot of room to grow but we want to grow by providing quality service to our customers and at the same time show profitable returns to our shareholders.

The Executive Q&A Series is presented by ShareInvestor, Asia's leading financial internet media & technology company, and the largest investor relations network in the region with more than 400 listed clients. The interview is conducted by Pon Van Compernolle, managing partner of GVC Capital, an investment advisory firm focused on small-mid caps in Thailand. For more information, e-mail [e-mail] or [e-mail] or visit http://www.ThaiListedCompany.com
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channel.
Samaggi hopes to see black


SET-listed Siam Commercial Samaggi Insurance Plc (SCSMG) is committed to returning to profit this year after posting a net loss of 310.75 million baht in 2008.

Managing director Chiravuthi Bunyasiri said the company's revived profitability would come from investment portfolio adjustment, a lower loss ratio from the motor business and a greater contribution from bancassurance through partnership with Siam Commercial Bank (SCB).

The company reported a net loss in 2008 of 310.76 million, against a profit of 285.07 million for 2007.

But last year's net loss mainly stemmed from investments, after the SET index plummeted in the last quarter of 2008 following the outbreak of the global financial crisis.

Last year the company recorded a net loss from investment of 476.05 million baht, against net investment income in 2007 of 270.31 million.

Since late last year the company has entirely cut its exposure in stocks - from 14% in 2007 - and trimmed its investment in unit trusts to 14% from 38% in 2007, said Mr Chiravuthi.

SCSMG currently has an investment portfolio worth about 3 billion baht, of which 25% is in debentures, 42% in government bonds and treasury bills, and 19% in bank deposits. In 2007, 15% was in debentures, 21% was in government bonds and treasury bills, and 12% was in bank deposits.

The company reported that its return on investment last year was -15.7%, way below the 9.4% it achieved in 2007. This year, it expects an investment return of 4-4.5%.

According to Mr Chiravuthi, the company expects to grow by about 7% this year from 3.29 billion baht.

"This year, we will focus mainly on profitability, be it in underwriting or investment," he said."Underwriting in motor insurance, in particular, will be carefully and selectively processed to curb any underwriting
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INDUSTRIAL PROPERTY
Ticon cuts investment by B1bn
05/03/2009 : Hit by cancellations of leasing contracts and slowing new investment, SET-listed Ticon Industrial Connection Plc has cut its capital expenditure by almost 40% to 1.6 billion baht for industrial property development this year.
-----------------------------------------------------------
SUPALAI SALES SINK 11,8%
05/03/2009 : The listed developer Supalai Plc has recorded an 11% year-on-year drop in sales to 1.37 billion baht from 1.55 billion due to a slow start in January, said Varunee Lapitananuvat, assistant managing director for finance and accounting.
------------------------------------------------------------
PROPERTY
Raimon restructures as its market suffers
04/03/2009 : Raimon Land Plc, which announced a restructuring yesterday, has felt the impact of a heavy reliance on both foreign funds and customers in the global recession, says an industry executive.
-------------------------------------------------------------
UV to put B4.5bn into distressed assets 04/03/2009 : Univentures Plc (UV) is looking to spend 4.5 billion baht on distressed assets this year to shift its focus to the property business from zinc, projected to decline by 15% over the next three years, said president Ornruedi Na-Ranong.
--------------------------------------------------------------
Jutha sets 17% growth goal
By: NAREERAT WIRIYAPONG
Published: 4/03/2009 at 12:00 AM
Newspaper section: Business
SET-listed Jutha Maritime Plc forecasts its revenue will rise by 17% to almost 800 million baht this year as the shipping industry has bottomed out, but will not pay a dividend payment for 2008 results as the market is still volatile.

A new ship with a capacity of 12,000 deadweight tonnes (DWT) would be delivered to Jutha in the third quarter of this year, bringing its total fleet to eight, said president Chanet Phenjati.

With the existing two liners and five charters, Jutha operates only in Asia, delivering mainly rice and sugar from Thailand to Japan and South Korea, and shipping steel from South Korea.

"This year, we are aiming for total revenue of almost 800 million baht, compared with about 680 million last year," said Mr Chanet, adding that 2008 financial performance was better than expected.

Thanks to shipping rates that peaked in May before falling sharply, Jutha's total revenue of 681 million baht was 10% higher than the forecast while net profit was at 123 million baht, 18% higher than the previous estimate.

According to Mr Chanet, the tripling of the Baltic Dry Index, the major measure of shipping costs for commodities, from a low of 600 last December to 2,000 at present has reflected the recovery in the shipping industry where demand and supply for ships are reaching a balance.

About 2.3 million DWT of ships were scrapped last month alone, up 187% year-on-year.

On the demand side, orders from Japan and South Korea have picked up in the first two months of this year.

The expected increase of free-trade agreements globally and the world's growing population would help accelerate the industry's recovery, he added.

However, Jutha will defer a 2008 dividend to keep cash at a time of volatile market conditions, especially when it has to pay the remaining 60% owing on a $19-million vessel to be delivered in September.
------------------------------------------------------------------

PSL: Protectionism threatens recovery
By: NAREERAT WIRIYAPONG Published: 4/03/2009 at 12:00 AM
Newspaper section: Business
The rising trends of protectionism and the nationalising of banks could hold up the recovery of the world's shipping industry, which is unlikely to revive before the second half of 2010, says Precious Shipping Plc (PSL).

Managing director Khalid Hashim said yesterday that politically driven protectionist measures could hit inbound and outbound trade globally.

Meanwhile, the growing trend of nationalising financial institutions due to the world financial crisis could affect cross-border lending, on which the industry depends, he said.

"Protectionism could pose a big threat for the shipping industry. If it expands, it could delay the revival of the industry, which we are projecting sometime in the second half of 2010 or early 2011," he said.

"Banks are in a serious situation and they are unable to lend more money. This is a really big issue in the shipping world."

He forecast that shipping indices, which have shot up sharply from 600 in December to 2,000 now, would certainly come down as demand for cargo shipments globally would remain weak in the next one to two years.

Even when the industry is past its low point, he said the Baltic Dry Index (BDI) would stay down around 1,000 to 2,000 in the next 18 to 24 months.

On the supply side, PSL estimates that as many as 4 million deadweight tonnes (DWT) per month - or a total of 48-50 million DWT - of ships would be sent to scrap this year, while plenty of ships on order books would not be built due to limited financing for shipowners and shipyards.

PSL, the second-largest SET-listed dry-bulk carrier, has 60% of its orders for this year covered by long-term contract rates, with the rest exposed to the volatile freight rate in the spot market.

The company anticipates that earnings per ship will fall 10% to US$14,000 this year from $16,400 last year, while operating expense per vessel would also come down due to lower oil prices.

The company plans to replace 25 ageing ships, out of its fleet of 44, with more recent secondhand vessels. Three have already been replaced in a programme that should take one to two years to complete.

PSL has 18 ships on order for delivery before 2012. The building contracts are priced at $588 million, $117 million of which will be paid with internal resources.

In 2008 PSL posted a net profit of 4.93 billion baht, compared with 4.15 billion a year earlier, on total revenue of 8.65 billion baht.
----------------------------------------------------------
THAI AIRWAYS INTERNATIONAL
Rehab chief outlines steps to rescue ailing carrier
By Patcharee Lueng-uthai
The Nation
Published on March 11, 2009




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Pichai Chunhavajira, head of Thai Airways International's rehabilitation committee, yesterday unveiled a set of short- and long-term measures to rescue the financially ailing national flag carrier.


THAI, which recently reported a heavy loss of Bt21 billion for last year, is seeking government help, as the airline is due to submit its rehabilitation plan to the Transport Ministry this month.


Pichai, who is also a THAI board member and chief financial officer of PTT, said the top priority was to survive the current liquidity crisis and secure funds to pay back Bt7 billion in loan interest due in October.


To restore confidence in THAI, which is majority-owned by the Finance Ministry, Pichai will lead a team including financial experts to meet more than 10 financial institutions to ensure that the rehab plan is realistic. This will be crucial as far as negotiations on refinancing are concerned.


Besides the Bt7-billion loan interest repayment due in October, additional funds will be needed to pay for eight new aircraft and solve the carrier's liquidity problem.


"We now need less than Bt20 billion [in terms of liquidity management], largely because the airline's operating results in January showed some improvement," he said.


To ease the financial burden, it is possible the airline will take delivery of only four of six Airbus 330s ordered for this year. Delivery of the other two should be postponed, he said.


On cost-cutting, Pichai said the airline needed to reduce expenses by 5 per cent, or an annual Bt4 billion, while at the same time prepare to boost profit margins from flight operations and other measures.


Flight operations will be reviewed in terms of routing and aircraft use, he said, adding that the previous failures in these areas had led to heavy losses, as evidenced by the shutdown of several long-haul services. More emphasis should be placed on connecting flights instead of direct long-haul flights.


On ticketing operations, there will be an overhaul of the seat-reservation system, with sales agents required to boost efficiency and passenger yields.


Under the present system, a large number of seats can be reserved, but not all of them have to be sold, resulting in losses to the airline, he said.


Profit will also be improved if the current procurement system is overhauled to boost efficiency and minimise waste.


Pichai said THAI should set up a new unit specifically to manage hedging on oil-price risks, as the airline lost more than Bt5 billion in price fluctuations last year.


The unit would be responsible for the adjustment of fuel surcharges, which will have to be more responsive to volatile market conditions.


Another method is to use tickets sold in advance to buy aviation fuel as a means of hedging, he said.


Over the next two or three years, THAI will still face a tough business environment, due to the global economic slowdown, in which the aviation sector will be among the last businesses to recover fully.


Meanwhile, major airlines will take delivery of many new aircraft over the next few years, meaning competition will be fiercer as carriers struggle to fill more seats.


From 2004-08, THAI's passenger yield remained unchanged at Bt2.29 per seat per kilometre. Therefore, it now needs to boost efficiency, Pichai said.


Regarding top management, he said a survey had showed THAI's organisation was not right in terms of a modern management system, because there was not enough horizontal linkage. Moreover, the leadership of major units is not strong.


The rehabilitation plan will include a reorganisation plan, he said.


Pichai yesterday met Cabin Crew Association members, briefing them on how the airline could retrieve the situation amid the current economic turbulence.


----------------------------------------------------------------

Asia Metal facing revenue, profit plunge in 2009
By The Nation
Published on March 10, 2009




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Declines in both steel prices and sales volume have been blamed.

Managing director Chusak Yongvongphaiboon yesterday said the shrinking economy had reduced steel demand. New orders dropped in the first two months of the year.

"Most of the lost orders have been from major clients in different sectors, such as property, electricity and auto parts, but Asia Metal is trying to expand into new target groups that we've never approached before. We try to look for opportunity and not focus only on the crisis," he said.

Asia Metal is also predicting a lower net profit this year but does not know by how much, because that will depend on the operating costs, said Chusak.

Asia Metal last year posted a 2008 net profit of Bt124.58 million, up almost 211 per cent from Bt40.1 million the year before.

Chusak said Asia Metal had reorganised several of its departments amid the economic downturn, such as business planning, human resources and production. It is also considering purchasing new machinery, as prices have declined.

Chusak yesterday informed the Stock Exchange of Thailand that he sold 24.6 million shares, or 5.12 per cent of registered capital, to Veerachai Suteerachai for Bt1 apiece. Director Penchan Yotinuoppamai also sold her 21 million shares, or 4.38 per cent of registered capital, to Veerachai at the same price. As a result, Chusak's ownership in Asia Metal will be reduced from 21.1 per cent to 15.98 per cent and that of Penchan from 12.7 per cent to 8.32 per cent.

Chusak said the change in shareholder structure would not affect management operations. He has no plan to sell further shares.
-------------------------------------------------------------

Listed firms' profit plunge
By The Nation
Published on March 6, 2009




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However, for all of 2008, the firms traded on the Stock Exchange of Thailand (SET) or the Market for Alternative Investment (MAI) earned Bt313 billion on sales of Bt7.37 trillion.


On average, listed companies paid out 6.65 per cent of their net profits as dividends to shareholders during 2008.


The financial services sector enjoyed the biggest annual profit rise of 396 per cent, followed by agriculture and food sectors.


The top-five companies posting profits for 2008 were PTT, PTT Exploration and Production, Siam Commercial Bank, Bangkok Bank and Siam Cement.


For the fourth quarter, the biggest losers were energy and public utility companies, accounting for 77 per cent of the total combined losses.


Their dismal performance was blamed on the steep fall in oil prices and foreign-exchange losses.


Patareeya Benjapholchai, president of the SET, said yesterday that the 532 firms listed on the SET and MAI had submitted their financial statements to market authorities, showing a combined net profit of Bt313 billion for the entire year, down 25 per cent from 2007.


The sectors showing the biggest profits were financial services, resources, and property and construction.


Of the total profits, SET-listed firms accounted for Bt310 billion while those included in the SET 50 Index contributed Bt260 billion.





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JAPAN ECO SHRINK 12,7%
12/03/2009 : Tokyo - Japan's economy shrank less than first thought in the fourth quarter of 2008 but still logged its worst performance in almost 35 years, according to new government figures released on Thursday.

-------------------------------------------------------------

HANA LAYS OFF 1300 WORKERS

13/03/2009 : SET-listed Hana Microelectronics Plc is the latest electronics company to announce layoffs, amounting to 15% of its workforce, or 1,300 staff in Thailand and China, to cope with continuing weak demand.
---------------------------------------------------------------

CONSUMER OUTLOOK SLIDE TO 65 MONTH LOW



---------------------------------------------------------------
CHEMICALS

Birla may review B2.5bn plans
By: VICHAYA PITSUWAN
Published: 13/03/2009 at 12:00 AM
Newspaper section: Business
Aditya Birla Chemicals (Thailand) is reviewing its 2.5-billion-baht expansion plan in Rayong province in light of a court ruling that the Map Ta Phut industrial area should be designated as pollution-control zone.
----------------------------------------------------------------

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009




WASTE MANAGEMENT

BWG tested for harmful discharges
By: VICHAYA PITSUWAN
Published: 19/03/2009 at 12:00 AM
Newspaper section: Business
Better World Green (BWG), a SET-listed industrial waste-management company, risks having its operation halted or shut down if testing finds contamination by dangerous substances.

The company's plant in Saraburi has been the target of complaints for years from local communities about foul smells and harmful substances in the air and water, damaging residents' health.

The National Environment Board (NEB) on Monday gave BWG seven days to examine its sites and suggest actions to Prime Minister Abhisit Vejjajiva by Monday.

A source from the auditor's office at the Industry Ministry said a ministry official who visited the site recently noted disturbing smells. ''Now the process goes to scientific examination to prove contamination,'' said the official.

The Pollution Control Department is examining air pollution and health. The Industrial Works Department is conducting tests, and a hospital is looking into causes of cancer, the official added.

If the tests find BWG's processes cause damage, it would need to halt operations to improve conditions, he said.

The results of the tests should be issued this month, said Sorayud Petchtrakul, an adviser to the Industry Minister.

A provincial committee overseeing the matter met in January to seek solutions, but no agreements were reached as representatives from BWG insisted that their practices were up to standard.

Ratchada Singalavanija, the Industrial Works Department director-general, said a Public Health Ministry regulation on community disturbance control could be used to protect the community.

But if high levels of contamination are proved, the department must first ask the company to resolve the problem. If the company fails to, it will need to shut down operations.

BWG executives could not be reached yesterday for comment.

BWG's customers include Star Petroleum Refining, Rayong Refinery, the auto-parts conglomerate Thai Summit, and Thai Oil. BWG received a licence to manage hazardous industrial waste in 2003 through a landfill system.

BWG shares closed yesterday on the SET at 1.61 baht, down two satang, in trade worth 8.44 million baht
---------------------------------------------------------
HOTELS
Centel predicts flat Q1 revenue
19/03/2009 : Central Plaza Hotel Plc (Centel) expects its revenue in the first quarter of this year will be on par with last year: 2.13 billion baht in revenues and 270 million baht in net profit.
-----------------------------------------------------------
AUTO PARTS

Aapico sees 20% job cut, 30% sales dipBy: NAREERAT WIRIYAPONG
Published: 19/03/2009 at 12:00 AM
Newspaper section: Business
Aapico Hitech Plc (AH), the SET-listed automotive parts maker, expects its revenue to fall by 25-30% this year from 9.5 billion baht posted in 2008 due to a sharp contraction of the overall automotive industry.

The Thai-Malaysian joint venture has cut employment in Thailand by almost 20% to trim costs amid a continuing market slump, according to president and chief executive Yeap Swee Chuan.

As the industry forecasts total production of 1 million to 1.1 million units in 2009 compared with 1.4 million last year, Mr Yeap said Aapico's revenue is likely to fall by the same level to 7-8 billion baht this year.

Net profit would also dip but the company should be able to post some profit this year by focusing on cost reductions and productivity improvement, he said.

"Profitability is a challenge in all business," he said. "Reduction of staff is one factor for us to achieve the target of 30% cost reduction this year."

Mr Yeap said Aapico had already made its first-ever job cuts, mostly subcontracted workers. Current employment is 3,600, with 10% outsourced workers.

Aapico's two new factories in Amata City industrial estate in Rayong have started to make sample parts to serve the production of small cars to be rolled out from AutoAlliance (Thailand), the joint venture of Ford and Mazda Corp.

"Our forging factory in China is now doing double shifts, meaning lower-cost cars are starting to do well. Raw material prices in China are dropping, so low cost is creating demand," he said.

"The car industry in Thailand will survive as it is one of the main pillars of Thailand's industrialisation policy. Pickups for the whole world are made in Thailand," he said, noting the sector was harder hit by the 1997 Asian crisis than the current global economic slowdown.

Kiatnakin Securities also projects Aapico's revenue will decrease by 30% in line with the industry to approximately 6.3 billion baht this year. Net profit is forecast to fall 70% from 241 million baht in 2008 to 71 million baht.

Aapico shares (AH) closed yesterday on the Stock Exchange of Thailand at 3.28 baht, up two satang, in thin trade worth 129,000 baht.
---------------------------------------------------------------
Export revenue better better than feared
By THE NATION
Published on March 19, 2009




Trade officials received a psychological boost yesterday as February export revenue drop-ped only 11.3 per cent year on year, compared with a 26.5-per-cent contraction in January, convincing them the target of 0-3 per cent for full-year export growth remains achievable. "The annualised target will be reviewed after the first-quarter figures are available, as external factors are not yet stable," said Commerce Ministry permanent secretary Siripol Yodmuang-charoen. "Some exporters expected a 40-per-cent contraction in February.


--------------------------------------------------------

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb

SCG have better q1
25/03/2009 : The Siam Cement Group (SCG) expects its first quarter to be better than the previous one as it will have no inventory losses and its petrochemical businesses will improve, president Kan Trakulhoon said yesterday.
________________________________________________________________
TRADING
Italthai aims for 10% gain
25/03/2009 : The trading company Italthai Industrial Co expects its revenue to grow by 10% to 2 billion baht this year despite the slowdown
----------------------------------------------------------------
HANA revenues may fall by 30% in 2009
25/03/2009 : SET-listed Hana Microelectronics Plc forecast yesterday that its revenue could fall by about 30% this year to 10.5 billion baht from 15 billion in 2008 while the global electronics industry would take up to three years to recover.hope to stay profitable.
_________________________________________________________________
RPC to invest B410m in rental property and trucks
By: VICHAYA PITSUWAN
Published: 25/03/2009 at 12:00 AM
Newspaper section: Business
Rayong Purifier Plc (RPC), a SET-listed oil refiner and distributor, plans to invest 410 million baht on retail property for rent and trucks to expand its logistics service capacity.

Supapong Krishnakan, the RPC executive board chairman, said 350 million baht had been set aside to construct its retail space leasing project in Ramkhamhaeng, while another 60 million baht would be spent on 10 trucks to expand its transport and logistics business.

"We can currently manage the transport of 2.2 million litres of petroleum per fleet, but the new investment will expand this capacity by about 10%. This should allow for yearly revenue growth of 5%," he said.

Despite the expansion, the group's revenue is expected to dip to 21 billion baht, from 22 billion last year, when high petrol prices pushed up revenue.

"Net profit is expected to hit 200-300 million baht this year, relatively the same as last year, but I am very certain we will not be facing inventory losses this year. Crude price should rebound to settle at about US$70-85 per barrel," he said.

The group had almost 1 billion baht in inventory losses last year.

Mr Supapong added that RPC received an official reply from PTT Aromatics and Refinery on a purchasing agreement of a raw material, condensate residue, which was to expire in 3.5 years. He said talks would be held when the contract almost reaches its expiry date.

"While we don't know how this will turn out, it is necessary to secure feedstocks. By the middle of this month, we will enter talks with an Angolan oil company about purchasing condensate from it," he said.

He added that if the talks were successful, the contract should secure its feedstocks for the next 25 years at a floating price, which would also allow it to manage its margins better.

Its purifying unit currently operates at 65% capacity, about 11,000 barrels daily of a capacity of 17,000 barrels.

Mr Supapong said the government's added incentive to cover price disparity between B2, a 2% biofuel blended in diesel and B5, a 5% biofuel, had improved the demand for B5 in its retail business.

It is important that the government stay committed to this policy and allow raw material prices to reflect costs, he said. This policy will lead to more use of local palm oil and could steer the country from energy import dependence, he said.

RPC also plans to open five petrol stations and to close some stations performing below expectations
----------------------------------------------------------------
MOBILE PHONES
Jay Mart: Big C deal could help double sales
25/03/2009 : Jay Mart Plc, a leading mobile handset distributor, projects its handset sales will more than double to over 100,000 units a month amid a generally bright outlook across the industry.
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East Water holds line on rates amid slump
Utility sees usage falling 5% this year
By: YUTHANA PRAIWAN
Published: 24/03/2009 at 12:00 AM
Newspaper section: Business
Eastern Water Resources Development and Management Plc, the country's largest private water provider, has vowed not to raise tariffs for at least two years to help ease the impact from economic hardship faced by its clients.

President and chief executive Praphant Asava-aree said yesterday that prices would be fixed at 9.25 to 11.25 baht per cubic metre until at least 2011. Normally tariffs increase every year, with last year's rates rising from an earlier range of 8.50 to 10.50 baht per cubic metre.

The lowest rate of 9.25 baht will be charged to the Provincial Waterworks Authority (PWA), which owns a 40% stake in SET-listed East Water, and to the Industrial Estate Authority of Thailand.

The tariffs collected from factories range from 10.25 to 11.25 baht, said Mr Praphant.

Raw water accounts to 65-70% of the company's total revenue with the rest tap water, drinking water and services.

This year, water consumption is expected to fall 5% to 214 million cubic metres from 228 million last year, before rising again to 242 million in 2010, he acknowledged.

The figure is forecast to double by 2019 to 428 million cu m, prompting East Water to commit to a five-year, 4.58-billion-baht investment programme until 2013.Of the total investment amount, 3.85 billion baht would be spent to develop new water resources and facilities with the remaining 730 million used to upgrade water production.

The company now has the capacity to store 660.9 million cu m at its six reservoirs in Chanthaburi, Chon Buri, Rayong and Chachoengsao. It actually produces 452 million cu m a year.

Mr Praphant played down the impact on the company's results of the recent court ruling designating the Map Ta Phut industrial complex in Rayong as a pollution-control zone.

"We expects very slight impact from the Map Ta Phut case," he said. "Ongoing investments there require only 20 million cubic metres or only 5% of the total water demand in the entire Eastern Seaboard area."

Shares of East Water (EASTW) closed yesterday on the Stock Exchange of Thailand at 2.64 baht, unchanged, in thin trade worth 903,000 baht.
----------------------------------------------------------------

BAKERIES
PB sees 10% gain this year
21/03/2009 : President Bakery Plc, one of the country's biggest producers of bread and baked goods, projects its total revenues this year will rise by 10% to 4 billion baht despite the economic difficulties.

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW

ENERGY

Glow committed to B51bn expansion
By: YUTHANA PRAIWAN
Published: 23/04/2009 at 12:00 AM
Newspaper section: Business
Belgium-based Suez Tractebel S.A. will spend 51 billion baht through its Thai subsidiary, Glow Energy Plc (GLOW), aiming to increasing power production capacity by 67% by 2011.

Once its power plants are complete, the company's total capacity would rise to 3,275 megawatts, from 1,966 MW this year, said Glow's Suthiwong Kongsiri, Glow's executive vice-president and chief financial officer.

The Suez group's Thai unit is targeted to be the fastest-growing power producer in the region over the three years, he said yesterday.

The main project is affiliate Gheco-One's 26.1-billion-baht investment to build a 660-megawatt coal-fired power plant in Rayong. The subsidiary has an independent power producer (IPP) licence, with operations due to start in November 2011.

Other projects include a 328-MW gas-fired plant worth 16.5 billion baht and a 7-billion baht, 115-MW coal-fired plant. Located in Rayong, both units would be operational in 2011.

Another 1.5 billion baht was used to acquire assets of the Houy Ho hydropower plant in Laos which has supplied electricity to the Electricity Generating Authority of Thailand (Egat) since 2001.

"Now we will expand substantially in the next three years compared with others in the industry," said Mr Suthiwong. "Since the company listed on the Stock Exchange of Thailand in 2005, Glow has expanded the business but it will change markedly from this year onward."

Glow has also conducted a feasibility study for a wind power project in northeastern Thailand. A final decision will be made by mid-2010 about whether to proceed.

"If the business is commercially viable, our wind farm power generator would have a capacity of at least 60 MW and require an investment of US$2 million each megawatt," he said.

Mr Suthiwong said Glow expected its total revenue would decline slightly this year from last year's 33.7 billion baht. But its gross margin is expected to rise significantly because prices of natural gas and coal have decreased sharply.According to the Department of Energy Business, imported coal is now priced at $70 per tonne, down from an average of $82.10 last year. Gas is 235 baht per million British Thermal Units at present, compared with 250 baht.

In 2008, its net profit was down 12% from a year earlier to 3.78 billion baht.

Meanwhile, Tris Rating yesterday affirmed the rating of Glow and the ratings of its guaranteed debentures at A with a stable outlook, citing the company's reliable cashflow from long-term power purchase agreements with Egat and long-term contracts with other industrial customers.

GLOW shares closed yesterday at 21.90 baht, up one baht,
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CONDO LAUNCHES OFF 36%
The recession and political instability continued to weaken the Bangkok condominium market in the first quarter with new launches down by 36% over the fourth quarter of 2008, according to Knight Frank Chartered (Thailand).
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ECONOMY

Growth forecast slashed to -3.5%
Uptick expected to begin next year
By: PARISTA YUTHAMANOP
Published: 23/04/2009 at 12:00 AM
Newspaper section: Business
The Thai economy could shrink by 3.5% this year as a result of the global recession and domestic political instability, according to the Bank of Thailand.




Duangmanee: Fiscal outlay could worsen decline
The central bank yesterday slashed its 2009 growth forecast to a range of -3.5% to -1.5%, down from a forecast of zero to 2% growth made in January.

The contraction would mark the first in 11 years for the Thai economy. Growth is expected to rebound to a modest 1.5% to 3.5% for 2010, down from earlier forecasts of 2% to 4%, according to the central bank's latest Inflation Report.

Duangmanee Vongpradhip, the central bank's assistant governor for the Monetary Policy Group, said the forecasts, made on April 8, remained plausible even with the economic impact of the Songkran riots and the state of emergency imposed on Greater Bangkok.

The political turmoil could push the economy toward the "lower range of the forecast", she said.

A potentially greater risk is government spending, viewed as the main driver for the economy this year as domestic consumption, investment and exports all declined.

Miss Duangmanee said there was a possibility that the economy could decline even further than current projections if fiscal spending missed targets.

Economic forecasters have been forced to revise their estimates in the wake of this month's crisis, which saw the red-shirted members of the United Front for Democracy against Dictatorship successfully disrupt the Asean summit in Pattaya and culminated with widespread protests across Bangkok and the country over the Songkran holidays.

Miss Duangmanee said it was too early to estimate the impact the protests would have on tourism this year, but added that April was typically the low season for the industry.

She said the blockade last December of Suvarnabhumi Airport by the yellow-shirted People's Alliance for Democracy, a group opposed to former prime minister Thaksin Shinawatra, had a greater impact on tourism as it came at the height of the season.

In any case, tourism bodies have estimated the damage from the Songkran riots at 200 billion baht, with arrivals projected to fall to just 10.9 million from 14.1 million last year. Cabinet ministers on Tuesday agreed to a range of new measures to assist the tourism sector.

In any case, the central bank yesterday said its forecasts projected the US economy to stabilise in the second half, with growth resuming in mid-2010.

"There have been signs of bottoming out in the world economy, but we cannot judge the trend from just a single month's data. There is a possibility that the global economic recession could deepen or slide again after a temporary rebound," Miss Duangmanee said.

The Thai economy suffered its most severe slump in the fourth quarter of 2008, at -4.3% year-on-year and -6% from the previous quarter as the falling exports and sagging investment was compounded by the airport seizure by the PAD, she said.

Miss Duangmanee repeated that the main downside risk to economic growth for this year and 2010 was fiscal spending.

The central bank's new forecasts include lower estimates for public investment and public consumption.


------------------------------------------------------------------

[EXPORTS SLUM,P CONTINUE/b]
Exports fell for a fifth straight month in March, bringing the first-quarter decline in dollar value to 20.55% year-on-year, as demand for industrial, agro-industrial and agricultural products fell.

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AUTOSALES ON THE ROAD TO RECOVERY

21/04/2009 : A faster-than-expected recovery of vehicle sales in Thailand and overseas markets could see the domestic auto industry hit its production target with only minimal additional job losses this year, experts say.
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MEDIA

MCOT gaining at bigger rivals' expense
By:
Published: 18/04/2009 at 12:00 AM
Newspaper section: Business
The listed broadcaster MCOT Plc is confident that its revenue this year will rise to reach the 4.4-billion-baht target as first-quarter performance exceeded expectations. The company said its revenues continued to rise as many advertisers had moved to Modern Nine TV (Channel 9) after channels 3 and 7 increased their airtime fees, said Kematat Paladesh, vice-president for marketing.

''During the prime-time period, our ad utilisation is over 100%. It's a windfall for us and we will maintain our airtime fees until the end of this year,'' he said.

About 50% of MCOT's advertisers had booked airtime in advance until year-end as they did not want to deal with possible fee increases, he said.

The trend showed that even when the economy is weak and politics uncertain, some companies still need TV as their main ad tool to reach consumers, Mr Kematat said. They believe that their customers will stay home more and watch free-to-air TV because they want to consume news and relax with entertainment.

As a result, he said, 2009 revenues should rise by 7% to 4.4 billion baht as expected. Of the total, 2.65 billion would come from TV and the rest from radio and concessions. First-quarter revenue typically is 20% of the full-year total.

Last year, MCOT reported 1.22 billion baht in net profit and 4.35 billion baht in total revenue.

Mr Kematat also said the company would choose a new president to succeed Wasan Paileeklee by June. After that, it may revise its programmes.

According to ABG Nielsen, Modern Nine TV ranked third in ad spending with a 20% share in the first quarter, behind Channel 3 (30%) and Channel 7 (25%). However, Channel 7 topped viewer ratings at 34.7%, followed by Channel 3 at 29.8% and Channel 9 at 11%.

''Although we have enjoyed strong ad revenues, we will try to generate additional revenues from other activities such as new media,'' Mr Kematat said.

He said free-to-air TV in the next three to five years would face more competition from new media and cable and satellite TV. ''Free-to-air TV operators will be forced to adjust ... and seek extra income from other activities,'' Mr Kematat said.

MCOT shares closed yesterday on the SET at 12.50 baht
---------------------------------------------------------------
ELECTRONICS

Hana sees signs of an upturn
Published: 17/04/2009 at 12:00 AM
Newspaper section: Business
Hana Microelectronics Plc, the country's largest listed semiconductor packager, says its sales may recover in the second quarter on the back of rising orders.

"We see an uptick in demand from customers," Hana Microelectronics CEO Richard Han told Bloomberg Television yesterday.

"The supply chain is very tight and they are placing orders. We are up about 10-15% from the low at the beginning of the year."

Hana, which makes parts for computers and mobile phones including the iPhone, had said earlier that sales may drop as much as 30% this year as the global economic slump saps demand for high-technology products.

The electronics industry has cut its output and inventories aggressively in the past six months, leading to higher demand, Mr Han said.

Hana, which trimmed production by half earlier in the year, is now operating at about 65% of its capacity, he said.

The company earlier this year reduced its workforce in Thailand and China by 15%, may need to hire about 200 to 300 people to meet rising demand, he added.

"We may have to start re-employing some of the staff, but we will be very cautious. We will do it on a temporary basis until we feel comfortable."

HANA shares closed yesterday on the Stock Exchange of Thailand at 11.40 baht
-----------------------------------------------------------------


BEC expects improved ad revenue despite downturn
TV advertisers not cutting spending
By: DARANA CHUDASRI
Published: 10/04/2009 at 12:00 AM
Newspaper section: Business
BEC World remains confident that it can continue to post revenue growth this year even with the global and domestic economy in recession.

The listed television broadcaster announced 2008 revenues of 8.798 billion baht, up 13% from the year before, with net earnings up 27.7% to 2.875 billion. Ad revenues last year rose 16.7% year-on-year to 8.194 billion.

Chatchai Thiamtong, a BEC World vice-president for finance, told investors at a briefing that last year, only one out of the company's top 10 advertisers cut spending. Nine out of 20 top advertisers raised spending overall for the year, while for the fourth quarter, around half of its clients increased ad spending while the other half cut budgets.

Even so, ad spending in January fell from the end of 2008, but has since rebounded with strong performance seen in March.

"We might see ad revenues in the first quarter decline from the same period last year," Mr Chatchai said.

"But operating results for the second quarter should recover and even post growth, as TV media typically is less affected during an economic crisis."

Mr Chatchai noted that the government's economic stimulus programmes, including the 2,000-baht cheque giveaway, would help spur domestic consumption.

"We are confident that our performance will not slip into the red. Even during our worst year in 2005, we still posted a profit," he said.

BEC earlier this year raised its prime-time ad rates by 13% to 14% as well as rates for its Sunday morning shows. Prime-time rates currently are quoted at 450,000 baht per minute.

Mr Chatchai said BEC would join a roadshow programme with the Stock Exchange of Thailand to London in May.

BEC's share price has taken a hit in recent months due largely to selling by foreign shareholders. The stock closed yesterday at 18.50 baht, down 30 satang, in trade worth 69.3 million.

"I think foreign investors understand that [BEC] is a domestic play, and that we should not be heavily affected by the downturn," Mr Chatchai said.

BEC, founded and controlled by the Maleenont family, had a free float of 43% at the end of 2008, with foreign investors currently controlling around 28% of total stock, down from an average of 30% in past years.

Mr Chatchai said the company would try to increase the proportion of retail investors holding the stock to help stabilise share prices.

The company would also maintain its dividend payout policy at no less than 90% of net profits, he added.
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TRANSPORT

BECL confident traffic won't dip
By: NAREERAT WIRIYAPONG
Published: 2/04/2009 at 12:00 AM
Newspaper section: Business
Bangkok Expressway Plc (BECL) says it is confident that sinking domestic spending power will not lead to a decline in its expressway traffic this year, saying flat growth is a more likely alternative.

Managing director Payao Marittanaporn said the company still hoped to reach its 5% growth target to 7.5 billion baht in revenue, from 7.14 billion earned in 2008.

BECL alone forecasts revenue of 18 million baht per day on average this year, up from 17.5 million last year, as a result of its toll increases.

Traffic volume on the SET-listed company's expressways rose by 5% in February from a month earlier to 909,000 trips per day, and continued to increase in March.

The increase in trips was due mainly to a shift by around 30,000 motorists away from using the Southern Ring Road, which started charging tolls late this month.

Ms Payao also said that motorists had grown used to the higher tolls, which increased by five baht late last year, and traffic was back to normal levels.

"When we first raised the toll, the number of trips dropped rapidly because people were shocked and needed time to adjust to the change," she elaborated.However, she said, that overall traffic this year should be flat as it was hard to see a recovery of domestic purchasing power within the year.

"Despite the growth in the first quarter, overall this year we expect to see relatively flat traffic [growth] but toll revenue is projected to increase by 5%," she commented after the shareholders' meeting yesterday.

She also said that the government's economic stimulus measures so far had failed to lift spending and business activities, particularly the 2,000-baht handouts, which were limited to low-income people.

Virabongsa Ramangkura, the company's chairman and a former finance minister, said that all parties involved with the economy needed to work harder to spur the country's growth, instead of making more political trouble at a time of hardship.

He said that in his view, the global recession had not yet reached its floor, adding that even $800 billion in spending by Washington had failed to revive the US economy.

BECL shares closed yesterday on the Stock Exchange of Thailand at 15.90 baht
--------------------------------------------------------------
Satellite lifts GMM earnings
Satellite TV audiences will double by 2011
By: CHADAMAS CHINMANEEVONG
Published: 2/04/2009 at 12:00 AM
Newspaper section: Business
Satellite TV revenues are expected to contribute 5% of the total earnings of Grammy Group within the next three to five years.



Grammychairman Paiboon Damrongchaitham andCEOBoosaba Daorueng (fourthand fifth from left) join otherGrammy executives yesterday for the launch of Acts Channel, the group’s fourth satellite TV channel.
Thailand's largest entertainment company aims to run five channels with a total investment of 500 million baht. Four channels have already launched: Fan TV, a Thai country music channel; the pop-rock music Bang Channel; the retro music Green Channel; and the series and movie Acts Channel. The variety Bird Channel's launch will be delayed until the year's end.

Chief financial officer Sirichai Tantiponganant said that Fan TV, launched last October, was very popular with audiences because of its clear identity. The channel sold 40% of its available advertising time in the first quarter. It expects this figure to rise to 50% for the whole year. The other three channels' performances will be evaluated over the next six months.

"We think we will benefit from the delay of Bird Channel as this can help us save costs during the economic crisis," he said.

He said the satellite TV business had the potential to draw more commercials following the liberalisation of the Broadcasting Act early last year.

Thailand's cable and satellite TV audience is estimated at 20 million viewers, and the figure will double over the next two to three years, he said.

But successful satellite TV operators must have good content and their channels must have a clear identity to attract specific audiences.

"The satellite TV business is a long-term investment. I like the fact we have more media channels as this can translate into more sales opportunities. If we can pool all media together and sell them in one package, it's very attractive for advertisers," Mr Sirichai said.

He added that a number of advertisers preferred to use satellite TV to reach their niche target groups. "We can attract some sponsorship from big advertisers like Pepsi, which is now our co-producer for a programme."

Grammy owns radio stations, TV programmes, magazines and an entertainment tabloid, as well as having a huge roster of musicians.

Mr Sirichai believes a media group with only one to two media outlets would face difficulties surviving.

In 2008, the company recorded the highest revenue in its 25-year history, 7.8 billion baht, with a net profit of 705 million, compared with revenue of 7.2 billion and profit of 502 million the year before. It anticipates double-digit net margins this year, up from 9% in 2008. The company will pay a dividend of 0.65 baht per share, for a yield of 12%, on May 22.

GRAMMY shares closed yesterday on the SET at 11.60 baht
------------------------------------------------------------

TTW: Demand set to grow by 6% this year
More people shift from underground water
By: YUTHANA PRAIWAN
Published: 30/03/2009 at 12:00 AM
Newspaper section: Business
Thai Tap Water Plc forecasts 5-6% growth in demand for its tap water this year despite the economic slowdown, said managing director Sompodh Sripoom. The strong growth projection is based on consumers shifting toward using tap water from underground water and wells, he said.

The Ch. Karnchang Plc subsidiary's coverage includes domestic and industrial users in western Bangkok and Pathum Thani.

Last year, the company expanded its capacity by 37.5% to 440,000 cubic metres per day in western Bangkok, and by 34.7% to 388,000 cubuc metres per day north of the capital in Pathum Thani.

''We are not worried about excessive capacity as we can see a rising trend in tap water substituting the use of underground water,'' he said. ''Not only can residents in those areas have more hygienic water for their daily use, but less consumption of underground water will help ease the effects from flooding in the rainy season.

''Underground water extraction is the root cause of subsidence which has resulted in heavy flooding in the past.''

TTW is discussing refinancing its wholly owned Pathum Thani Water Co's 3.5-billion-baht debt. This would cut annual interest by 200 million baht.

It also plans to expand its cash-generating assets through the merger and acquisition of water supply-related businesses, as well as exploring opportunities in Southeast Asia.

The company's waste-water treatment business is expected to come online within the next five years.

''We see a huge opportunity in the waste-water treatment business since there are only few service providers, such as industrial estate developers and the Industrial Estate Authority of Thailand,'' Mr Sompodh said. ''They only focus on the industrial sector, even though the major problem comes from households whose water is discharged without proper treatment.''

High-density residential areas all over the country will face increasingly serious environmental damage from waste water, he said.

''Thailand is very slow in taking action on this matter. I think the government will realise the potential impact of waste-water on the environment soon.''

TTW shares closed on Friday on the SET at 4.58 baht
--------------------------------------------------------------

[lapamita]

ENERGY

Sunny future for solar cells in factories
By: YUTHANA PRAIWAN
Published: 9/05/2009 at 12:00 AM
Newspaper section: Business
Solar panel installations in Thai factories are expected to expand 10-fold to 40,000 square metres by 2011, on the back of a government initiative to promote the renewable-energy technology.

Today, only 5,000 sq m of solar panels are installed in local factories, said Mana Nitikul, deputy director-general of the Department of Alternative Energy Development and Efficiency (DEDE).

"We can use solar panels to produce hot water which is widely used in the industrial sector, instead of conventional boilers. While boilers need fuels such as gas and coal, solar heating needs only the solar cells and some space on a roof to install them," Mr Mana said.

The DEDE will finance 30% of the cost of purchasing and installing solar panels at industrial sites to help promote the technology. Solar cell prices have declined to 15,000 baht from 40,000 baht last year, due to falling global steel prices.

Thailand's solar panel coverage will increase to 300,000 sq m by 2022, according to DEDE forecasts.

Although solar cells require a high upfront investment, substantial energy savings mean factory owners could break even within two to three years, he said.

In 2007, 21 participants in a DEDE pilot project installed a total of 5,000 sq m of cells. Collectively they saved 22.81 million baht a year in energy costs from a total investment of 87.53 million, making a three-year break-even viable.

The canned food producer Thai Union Manufacturing Co installed 462 sq m of solar cells costing 4.34 million baht and cut its power bill by 1.5 million last year.

The DEDE provided 22.5 million baht in project finance for the pilot scheme.

-------------------------------------------------------------

TOYOTA THAI REHIRES 500 WORKERS

08/05/2009 : Toyota Motor Thailand will rehire about 500 workers at its Gateway plant in Chachoengsao to increase production of its passenger cars, says Wichien Emprasertsuk, a senior vice-president
---------------------------------------------------------------
AGRIBUSINESS

TUF expects 15% sales rise this year
By: CHAROEN KITTIKANYA Published: 7/05/2009 at 12:00 AM
Newspaper section: Business
Thai Union Frozen Products Plc (TUF), Thailand's largest tuna exporter, is increasingly upbeat about its sales and profitability prospects after a good first quarter.

''The baht's weakness is helping our exports,'' president Thiraphong Chansiri said yesterday. ''Swine flu will also boost our seafood sales in the short term. This confirms that we are in the right business, supplying healthy and safe food.''

TUF reported growth in net profit and sales, with net profit for the first quarter rising 13% to 653 million baht, up from 578 million in the same quarter last year. Sales in Thai baht were 17.67 billion, up 15% year-on-year partly due to the currency's 10% depreciation against the US dollar. Sales in dollar terms rose 4% to $499 million.

Total revenue for the first quarter increased 12% to 17.9 billion baht. Exports accounted for 90% of sales.

Sales for 2009 should rise at least 15% in baht terms and 10% in dollar terms, said Mr Thiraphong.

Revenue could reach $3 billion in 2012, up from $2 billion last year. ''We also expect net profit to grow in line with sales this year,'' he said.

TUF's annual sales for 2008 exceeded $2 billion and its net profit nearly matched an all-time high set in 2003.

Last year's sales in dollar terms were $2.069 billion, up by 28% from 2007. This corresponded to a 24% increase in baht terms to 69.04 billion.

Total annual revenues for 2008 were 69.51 billion baht, a 24% year-on-year increase from 56.06 billion.

The company posted annual net profit of 2.2 billion baht, up 21% from 2007.

TUF said it would focus over the rest of 2009 on proactively integrating operations between its US-based ''Chicken of the Sea'' canned tuna and its Thai plants to save costs and strengthen the supply chain.

It also plans to continually launch products, especially for the ready-to-cook and ready-to-eat segments.

The company will spend a total of $20 million on a new plant in the US state of Georgia and on restructuring a plant on American Samoa. The Georgia plant will have an annual output of 4 million cases and will start manufacturing from Oct 1, while the American Samoa plant will close by September.

''These undertakings should reduce our production costs and enhance our competitiveness,'' said Mr Thiraphong.

The company will use cash for the investment and will spend another 1.2-1.4 billion baht this year on improving efficiency and building more cold storage facilities, he said.

TUF shares closed yesterday on the SET at 21.60 baht, down 40 satang, in trade worth 76.69 million baht

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MINING

Equipment delays to trim THL profits
By: VICHAYA PITSUWAN
Published: 6/05/2009 at 12:00 AM
Newspaper section: Business
Tongkah Harbour Plc (THL), a SET-listed mining company, expects worse-than-expected first-quarter results due to a delay in equipment delivery that is affecting development of its gold mine in Loei.

The company is constructing a flotation plant to improve the recovery rate at the gold mine to 90%, from 70% at present, and yield economies of scale.

The flotation plant trial started last week and the unit should be in full operation by June. About 3,000 ounces of gold extraction per month can be expected and production costs will fall from the current $385 per ounce, said managing director Ronald Ng Wai Choi.

"With the flotation plant, more gold production is expected this year and as well it could increase our margin. Besides, the new technology would allow us to generate additional income from by-products such as copper credits and silver," he said.

"Consequently, THL should perform better this year. We should be able to wipe out the accumulated loss from the previous year and to pay a dividend to our investors."

The company expects its net profit will exceed 200 million baht this year.

THL earned 109.6 million baht last year, compared with a net loss of 147 million a year earlier. Its revenue totalled 980.4 million baht, of which 881.4 million came from sales of gold.

Mr Ng forecasts gold prices will move between $800 and $900 per ounce in the next two to three years, but they could move above $1,000 once the world economy recovers and people again turn to hedge on gold. Gold was trading last week in London around $890.

To capture future opportunities, THL is considering investing abroad after the National Economic Social Development Board and the cabinet decided to halt new permit issues for gold mines.

The company is looking to form a joint venture with a partner in Burma next year, while a consortium with a partner in Vietnam offers bright prospects for a licence. As well, there is a potential for developing a gold mine in Laos.

"The most likely deal we hope to finalise within two months is a joint venture with local communities for a mining licence in Kalimantan, Indonesia," said Mr Ng. "We are in the process of reconfirming the deposits of tin, zircon, limonite, silver and gold of the area.

In terms of domestic activity, THL depends almost entirely on gold for its revenues. Other businesses such as tin mining, rock crushing and property management still need much more development. Its offshore tin mining project is awaiting public hearings and community approval.

THL also has a property development business, including a 600-room condominium in the Ratchadaphisek area of Bangkok, which is awaiting the results of an Environmental Impact Assessment (EIA).

A project to rehabilitate and develop Phuket's muddy bay with marine cruiser port facilities is seeking support from the Tourism Ministry.

Mr Ng said progress had been impeded by inconsistency of government policies, different interpretations of laws by different government agencies, and red tape in general.

"Current developments of these projects are in the hands of the government. We have the cash, manpower, technology and project planning is completed, but it depends on whether the government wants to support us," he said.

"Our investments can create jobs and pump money into the economy so I propose that the government should help us proceed with these projects."

THL shares closed on Monday on the Stock Exchange of Thailand at 1.38 baht, up one satang, in trade worth 11.28 million baht.

[lapamita]

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post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
------------------------------------------------------

HOTELS
Four Seasons sees fall in occupancy rate to 50%
05/05/2009 : The Four Seasons Hotel Bangkok expects its occupancy rate to edge down to 50% this year, from 55% in 2008, with the combined impact of local political instability and the
-----------------------------------------------------------
BANKING
Thanachart seeks FIDF's Siam City Bank stake
05/05/2009 : Thanachart Capital may seek a shareholding in Siam City Bank as part of its growth strategy, said TCAP chairman Banterng Tantivit
--------------------------------------------------------------

Plants hiring as orders resume
By: NAREERAT WIRIYAPONG
Published: 4/05/2009 at 12:00 AM
Newspaper section: Business
Electronics manufacturers have started hiring thousands of staff in response to stabilising global demand and the expectation that an economic recovery will start later this year, industry leaders say.

Manufacturers of hard-disk drives (HDD), such as Western Digital (WD) and Hitachi Global Storage Technologies (HGST) have started increasing their workforces over the past month because of improving orders, the Electronics and Computer Employers' Association says.

WD, the world's second largest HDD maker, recruited an additional 3,000 workers for its Thai factories over the last month, bringing its total to about 31,000. The US company had cut its workforce to 28,000, from a peak of 35,000, when global electronics demand started to slump at the end of last year.

HGST hired 1,000 workers in April, while Seagate Technology, the world's biggest HDD producer, has maintained its headcount at about 10,000, said the association's president, Sampan Silapanad."The global market has bottomed out and is on track to recover faster than our projection."

About 30,000 electronics workers lost their jobs at the worst point of the crisis in early 2009. Thailand is the world's largest HDD manufacturer. The industry's export values are expected to decrease by 20-25% from last year despite the recovery, Mr Sampan said. Orders declined by 40% in the first quarter.

California-based Seagate said that while there were some signs of improved market conditions, the ongoing global economic uncertainty made it difficult to predict the demand.

Orders for electronic and electrical goods from Thailand have been improving in the current quarter, the Board of Investment (BoI) said. Producers of white goods, such as Toshiba, Sharp and Samsung, have seen orders rise to 80% of the pre-crisis volume, up from 60-70% in the first quarter.

A similar trend has been reported by electronics manufacturers such as WD, HGST and Fujitsu, the BoI said.

Anusorn Muttaraid, executive director of SET-listed Delta Electronics Plc, said that while global demand had picked up, he still remained doubtful whether there would be a sustained recovery.

"Year-on-year sales figures for electronic components have actually increased, including those in the US, partly because of economic stimulus measures launched by the Obama administration," he said
-------------------------------------------------------------------
HEALTH CARE
Samitivej expects Q1 profit fall
01/05/2009 : The hospital operator Samitivej Plc (SVH) expects its first-quarter results to drop by a single digit year-on-year, due mainly to a decrease of foreign patients. Director Somsiri Sakolsatayadorn said the number of expatriates visiting the hospital was falling significantly as companies close or scale back business
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ITD expects backlog to top B150bn
Megaprojects set to quadruple contracts
Published: 28/04/2009 at 12:00 AM
Newspaper section: Business
YUTHANA PRAIWAN

Thailand's largest construction company, Italian-Thai Development Plc, expects its construction-project backlog to almost quadruple over 2009 to more than 150 billion baht, said president Premchai Karnasuta.

Mr Premchai forecast a steep rise in the backlog from increasing government expenditure around the globe, with budgets mostly going on megaprojects.

At the end of last year, ITD had only contracted for construction projects worth 40 billion.

State megaprojects could enable construction companies to grow while private projects are being held back by the poor economy, said Mr Premchai.

"The most effective way to increase money in the system is building infrastructure. It not only helps the business sector but also the unemployed, and Thai and Asian governments are all following suit," he said.

ITD already has projects on hand worth 52 billion baht and expects to sign construction contracts for projects worth another 101.20 billion baht.

"This year, subway and sky train projects in Bangkok worth over 100 billion baht will be gradually opened for bids. We hope at the least to win projects worth about 40-50 billion baht," he told shareholders. "These electric trains could not generate revenue within this year, but we could book long-term revenue for four-to-six years in line with the time of the project's construction."

Projects likely to open bids this year include the Bangkok Mass Transit System Co's green line extension project, the State Railway's red line and the Mass Rapid Transit Authority's blue line extension.

In foreign markets, ITD bid last year on projects in India, Laos, Indonesia, Burma, Cambodia and Taiwan. These projects generated 46.157 billion baht, 18% of ITD's total revenue last year, and the company expects to win more overseas megaprojects in 2009.

"As we started working on quite a few overseas projects some years ago, I hope these projects will be fruitful for the group this year," he said.

ITD also expects gross margins for construction companies to rebound to normal levels in line with declining prices of construction materials.

The huge hike in costs last year hurt most contractors and led ITD to record a loss of 2.45 billion baht over 2008.

Gross margin per sale last year dropped to 2.25%, down from 7% a year earlier. ITD expects the figure to hit double digits this year.

"We are trying to preserve cash as much as possible and to limit the risk of construction material price volatility by seeking long-term purchasing contracts with steel and cement producers," he said.

To contain construction business cycle risks, ITD has diversified over recent years into areas such as mining, power and property.

Its wholly owned subsidiary Asia Pacific Potash Corporation Co (APPC) expects to start a potash mining operation in Udon Thani this year.

Of ITD's sales last year, about 25% came from road and railway construction, 20% from large private building projects, 12% from the energy sector and 10% from marine works and deep sea facilities.

ITD shares closed at 2.26 baht, down two satang, in trade worth 105.8 million baht.

-------------------------------------------------------------

PETROCHEMICALS
PTTCH expects flat sales amid uncertain demand
28/04/2009 : TRAT : The current global recession provides an opportunity to rethink the business cycles of the petrochemical industry, according to the president and CEO of PTT Chemical (PTTCH), Veerasak Kositpaisal
-----------------------------------------------------------

[lapamita]

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post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf




TTA's profit sinks 95%
But outlook bright as shipping rates stabilise
By: NAREERAT WIRIYAPONG
Published: 19/05/2009 at 12:00 AM
Newspaper section: Business
Stabilised shipping rates should help improve Thoresen Thai Agencies Plc (TTA) business outlook for the rest of the year, after the country's largest dry bulk carrier posted a 95% drop in net profit in the first quarter.

Overcapacity and weak global economic conditions will remain a concern for the shipping industry throughout 2009. But TTA managing director M.L. Chandchutha Chandratat said positive signs were seen in line with the slight rebound of the Baltic Dry Index (BDI) in the first three months of this year.

"We expect the index to be stable at the current rates until the end of the year, thanks particularly to stimulus packages being implemented by governments globally," he said.

The Chinese government, for instance, has stepped up public investment through infrastructure projects, subsequently boosting the demand for steel imports.

China is the world's top importer of steel, which accounts for almost half of the dry-bulk trade, he said.

TTA's net profit dropped to 99 million baht in three months to March - the second quarter of its 2009 fiscal year - from 2.1 billion baht in the same period in 2008.

Its total revenue almost halved to 4.42 billion baht from 8.1 billion baht, 69.5% of which was shipping revenue.

BDI, the most closely watched measure of shipping costs, fell 46.6% from 3,000 in October last year to 1,615 by the end of March, resulting in the decrease of TTA's fleet cargo by 25% to 6.05 million revenue tonnes.

"The credit crunch has also made it difficult to open letters of credit, which had severely affected spot trading of many commodities, such as grains, soybeans, sugar, and cement," said the TTA managing director.

"New supplies of vessels entered the market steadily while demands for trade remained low."

Citing the current challenging operating conditions and reduced operating income, the company has also decided not to pay an interim dividend for 2009. The BDI, meanwhile, has bounced back, rising by 70% in a one-month period to hit 2,544 based on the strong demand for steel and grains.

Other positive factors supporting the BDI are the cancellations of new ship orders and extended scrapping which will further reduce the current surplus, said M.L. Chandchutha.

KGI Securities has revised down TTA's profit estimates for 2009 fiscal year from 2.3 billion baht to 1.5 billion baht, given the lower-than-expected second-quarter results. But the brokerage stated that since TTA business had already bottomed out and should recover in this quarter, it upgraded the recommended price from 12 baht per share to 23 baht.

Shares of TTA closed yesterday on the Stock Exchange of Thailand at 20 baht, down 30 satang, in trade worth 1.19 billion baht.

----------------------------------------------------------------

BEVERAGES

Serm Suk thirsty for new challenge
By: PITSINEE JITPLEECHEEP
Published: 19/05/2009 at 12:00 AM
Newspaper section: Business
Though Thailand's economy is worse than last year, Serm Suk Plc, the local bottler of Pepsi, will continue to invest 1.15 billion baht on its business expansion this year.

Somchai Bulsook, the company's president & CEO, said about 550 million baht will be spent on PET bottling capacity and the rest will be for upgrading of its facilities, installing new machines, IT systems and other requirements.

"The perfect storm of 2008 enabled Serm Suk to become stronger. We're confident we can recover from the crisis we face, " he said.

The company wants to grow sales by 5% from 19.2 billion baht last year. To achieve its goal, it has deployed the "P3" business strategy, which comprises portfolio, performance and people.

Portfolio refers to Serm Suk's four core products: carbonated soft drinks, drinking water, tea and juice. Performance means the company has upgraded logistics efficiency and set up a new Crystal drinking water production line in Surat Thani last month to help cut transport costs.

The company is also increasing training resources and launched a coaching system to improve the firm's flexibility to adjust to changing market conditions.

Sales of Serm Suk last year increased by 3% to 19.2 billion baht with a 58% drop in net profit to 139.6 million baht. The profit decline was due mainly to several negative factors, including rising sugar prices and volatile fuel prices.

Another major challenge for the carbonated soft drink (CSD) industry is the tough regulatory system. CSD are subject to both excise tax (normally applied to luxury goods), and the price monitoring system (normally used with commodity products), making CSD a luxurious commodity.

In the market, there are indications of changing consumer habits due to economic and political challenges. These changes are a higher cost of living, a higher level of education, an ageing population and a shrinking household size.

Together, these factors led to three key consumer trends in Thailand: a value shift to focus on price and quantity, a desire for better quality of life (health, beauty and intelligence) and a need for convenience.

"We have never seen a market face these similar problems at the same time, but they have prepared Serm Suk to address any upcoming challenge and make us a highly sustainable business for the future," Mr Somchai said.

He said that in 2009, the overall market appears ready to recover from the crisis. In the first quarter, Serm Suk posted a net profit of 123 million baht, up 34% year-on-year due to efficient cost management. Revenues were 5.02 billion baht, down 11 million baht from the same period last year.

Shares of Serm Suk (SSC) closed on the Stock Exchange of Thailand at 11 baht, up 60 satang in trade worth 623,000 baht.

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CIMB Thai in recruitment drive to support growth
By: SOMRUEDI BANCHONGDUANG
Published: 19/05/2009 at 12:00 AM
Newspaper section: Business
CIMB Thai plans to recruit staff for its investment banking, corporate finance and trade finance divisions to support business growth, says Dato' Sri Nazir Razak, chief executive of the CIMB Group.

The Thai bank employs 3,000 staff and seeks to build increase its domestic presence by leveraging the Malaysian-based CIMB Group's regional network.

Mr Razak said CIMB Thai's trade finance services had already gained five or six Malaysian clients since CIMB Group acquired the local bank last year.

CIMB Thai would also recruit new marketing staff for its securities business to bolster its sales network and expand market share, he said.

CIMB-GK and BT Securities expect their merger to be completed within the third quarter. The two brokers have a current market share of around 1% of the Stock Exchange of Thailand's total trade.

The bank plans to pare back its ATM network, which with about 800 machines nationwide was "too large" for its customer base, said Mr Razak.

CIMB Thai has 1 million deposit accounts. It has been cutting its deposit rates in a bid to scale back its funding base and achieve a greater balance with its loan book. The bank aims to reduce its total deposits to 110 billion baht by the end of the year from 170 billion now.

Longer-term, CIMB Thai would offer deposit rates in line with the largest Thai banks, Mr Razak said. The bank currently pays deposit rates which are 25 to 50 basis points higher than major Thai banks.

Shares of CIMBT closed at 1.14 baht yesterday, up eight satang, in trade worth 4.97 million baht.

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PROPERTY

AP raises 2009 target by 10%
CEO: Sentiment begins to improve
By: KANANA KATHARANGSIPORN
Published: 19/05/2009 at 12:00 AM
Newspaper section: Business
Listed developer Asian Property Development Plc (AP) has raised its 2009 revenue target by 10% and will launch 12 projects worth a total of 21.27 billion baht by the first quarter of 2010.

Market sentiment improved in May, despite the riots in mid-April, said CEO Anuphong Assavabhokhin. Surprisingly, the number of customers visiting project sites did not fall in the first week following the protests, he added.

"We didn't dare launch new projects in the first two months, as the market had been bad since late last year," he said.

"Now until the first quarter next year, AP will launch new projects each month - seven condominium projects worth 13.9 billion baht and five low-rise projects worth 7.37 billion."

With the improved outlook, AP is aiming for 10 billion baht in revenue by the year-end, 10% higher than a previous target of 8.5-9 billion baht.

But Mr Anuphong said revenues could fall by as much as 10% from its earlier target if the market deteriorates and risks from the US and from Thailand's economy and political situation flare anew.

"The positive outlook is really limited only for large developers, which are advantaged and tend to expand market share. They have stronger financial status and get better offers from banks. The market today rarely opens for small and medium-sized developers," he said.

Competition in the financial markets has increased, he said. But, while many banks are offering better conditions, some developers - mainly small and medium-sized companies - have found it harder to get project loans and mortgages loans for their customers.

The financial statements of many large developers improved substantially in the first quarter from the fourth quarter last year, said Mr Anuphong.

AP's sales doubled on the same period last year to 2.8 billion baht with net profit up 217% to 481 million. Gross margin was 34% while pre-sales from January to May 18 were 2.5 billion baht.

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Supalai aims for 20% rise in revenue
By: NUNTAWUN POLKUAMDEE
Published: 19/05/2009 at 12:00 AM
Newspaper section: Business
Supalai Plc expects 20% revenue growth this year as it maintains plans to open 11 new developments amid steady demand in the Bangkok property market.

Warunee Lapithananuwat, a Supalai vice-president, told investors yesterday that first-quarter revenues were "satisfactory", with realised revenues of 2.03 billion baht from its sales of condos, detached homes and townhouses.

Supalai, which posted 6.24 billion baht in sales last year, projects another 4.67 billion in realised sales from April to December.

"We have confidence that the company can reach its target growth for this year, as there will be revenue from old projects that will contribute to our growth," Ms Warunee said.

Supalai director Tritecha Tangmatitham said the company plans to open 11 new projects this year with total investment of 14.16 billion baht.

Four of the projects are high-rise condominiums and the rest are residential townhouses and detached-home projects.

"The company has confidence the projects will be well-received by customers, given that our sales have picked up since February," Mr Tritecha said.

Gross profit margin this year is expected to be 44%, up slightly from 39% last year.

Mr Tritecha said the company expects net profits this year will be higher than last year's 1.07 billion baht.

The company posted first quarter profits of 541 million baht, up from 172.93 million the same period last year.

Shares of SPALI closed on the Stock Exchange of Thailand at 2.92 baht yesterday, up eight satang, in trade worth 39.28 million baht.

--------------------------------------------------------------

INSURANCE

BKI maintains 5% growth target
By: CHAROEN KITTIKANYA
Published: 19/05/2009 at 12:00 AM
Newspaper section: Business
SET-listed Bangkok Insurance still expects to yield 5% sales growth this year despite a poor economic outlook and the shrinking purchasing power of local consumers.

But it admits the company's bottom line is unlikely to match the historic profits it reaped last year, as this year's investment income remains sluggish.

BKI chairman, Chai Sophonpanich, said he hoped the company's profit would only drop "slightly" from 881.32 million baht in 2008, 60% of which came from investment profits and the rest from underwriting.

The company posted a net profit of 276.7 million baht in the first quarter, a rise of 9.5% from 252.8 million baht in the same period last year, he said.

The strong increase in net profit came despite the fact that BKI's written premiums for the quarter increased by only 2.2% to 2.18 billion baht.

The increase in earnings was driven mostly by underwriting profits, which rose 10% to 323 million baht, and lower operating expenses.

The company posted an investment profit of 152.4 million baht, a slight drop of 0.3% over the same quarter last year.

BKI expects gains from the sales of securities it accumulated during the bear market in the fourth quarter of 2008 and the first quarter this year would help lift the company's investment profit for the rest of the year, said Mr Chai.

"We are ready to dispose our existing holdings in securities if the SET Index reaches 600-650 points this year, " he said.

The company's exposure in stocks currently accounts for up to 52% of its investment portfolio worth about 6 billion baht.

BKI reported investments of about 3.4 billion baht in listed securities, and 507 million baht in non-listed securities, as of the first quarter.

The insurer remains upbeat that the retail segment will help it achieve 5% growth in written premiums this year, despite reporting written premium growth of just 2.2% in the first quarter, said Panus Thiravanitkul, senior vice-president.

Last year, retail customers generated 3.34 billion baht in direct written premiums for the firm. It targets raising retail premiums to 3.5 billion baht this year.

In 2008, BKI reported total written premiums of 7.77 billion, of which its motor insurance business contributed 2.98 billion, with 3.0 billion coming mainly from health and personal accident insurance.

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FOOD

Oishi on course to beat 20% growth target after robust Q1
By: CHADAMAS CHINMANEEVONG
Published: 19/05/2009 at 12:00 AM
Newspaper section: Business
PRACHUAP KHIRI KHAN : Oishi Group Plc is confident of achieving 7.2 billion baht in revenue this year after posting strong growth in the first quarter.

The listed green-tea producer and Japanese-restaurant operator recorded a 27.4% rise in revenue to 1.67 billion baht and a 56.4% surge in net profit to 190.9 million baht during the January-March period.

Tan Passakornnatee, president and founder of Oishi Group, said the optimistic outlook was due to the popularity of green tea drinks and Japanese food regardless of the economy.

The overall Japanese-food segment grew by 20% in the first quarter while other food segments declined.

"Our growth is being driven by strong demand from consumers who are concerned about health and well-being. Moreover, we continue to invest to expand our business and spend on aggressive marketing campaigns amid the economic downturn," he said.

Mr Tan is optimistic the company's 2009 revenue target of 7.2 billion baht, a 20% rise from last year, will be achieved.

During the first quarter, Oishi opened 16 restaurants. The "Pai-Tae-Tua-Tour-Yok-Gang-Kab-Oishi II" and "Celebration of Nature" campaigns were also launched to promote its green tea products and food.

The expansion and promotional campaigns drove up its green tea business and food operation by 26.6% and 28.2% respectively. Beverage revenues represented 53.4% of total revenue and food made up the balance.

"I believe Japanese food and beverages will continue to be popular among Thai people because more and more people are health-conscious," he said.

This year, Oishi will spend 840 million baht on marketing and brand building.

In the wake of the recession, some operators may try to cut costs and lay off staff to drive profits. But Oishi will continue to spend on marketing and promotion activities as they are vital to boost business even during the hard times.

This year, Oishi plans to open 20 outlets, with a total investment of 200 million baht. About 16 outlets have already been opened in the first quarter and the remaining four will be opened over the rest of the year. They will bring the total number of outlets to 96 by the end of this year.

The 16 outlets include two Oishi Buffet, six Shabushi, two Oishi Ramen, five Delco (Delivery and Carry out) and one Maido Ookini Shokudo.

Oishi shares closed at 34.50 baht, down 1.50 baht, in trade worth 170,000 baht.

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ENTERTAINMENT

SF investing B1.2bn in new complexes
By: PITSINEE JITPLEECHEEP
Published: 18/05/2009 at 12:00 AM
Newspaper section: Business
SF Cinema City has allocated 1.2 billion baht to build more movie complexes this year, with two already opened in the first quarter, says managing director Suvit Thongrompo.



Suvit: Hit films will help revive sales
The first, at Central Pattaya Beach, has 10 screens and 16 bowling lanes. Next month, a 30-seat outdoor cinema will open where moviegoers can enjoy a sea view and be served food and drinks.

A second four-screen complex is at Harbour Mall, a new community mall in Laem Chabang, Chon Buri.

Another seven screens will be opened at CentralPlaza Chon Buri, scheduled to have a grand opening on May 29.

Construction of an additional cineplex is under way at CentralPlaza Complex in Khon Kaen, due to open in December, said Mr Suvit. It will have eight screens and 14 bowling lanes.

SF also plans to renovate its existing four theatres at the Laemthong shopping centre in Bang Saen, Chon Buri.

"We are optimistic about the local cinema business. The industry will record dramatic growth this year because of new releases of top box-office movies from the second quarter onward," he said.

SF currently operates 160 screens in 19 locations. With its new cineplexes, it will have 180 theatres in 24 locations.

Mr Suvit said he would like to open three or four locations in Bangkok in the next few years.

The local cinema industry was worth 3 billion baht in ticket sales last year, down by 600 million from 2007. But the industry is expected to recover to more than 3.6 billion baht this year, said Mr Suvit.

"Whether people are happy or sad, they will go to see a movie because cinema is recognised as cheap entertainment," he said.

The industry is optimistic about a series of major new releases from the second quarter onward. They will include Fast & Furious, Saranae How Peng, X-Men Origins: Wolverine, Terminator Salvation, Transformers 2, Harry Potter and the Half-Blood Prince and King Naresuan.

Thai people currently see an average of 2.25 films a year, up from fewer than two in recent years, as more movies are coming out with appeal to all target groups, said Mr Suvit. Cinema has also benefited from good media coverage.

SF sales in the first quarter of this year were flat. But the company is confident its sales in the second and third quarters will improve by at least 20%.

The company's market share is expected to increase to 35% this year, up from 32% in 2008, because of new cinemas at Central Chaeng Watthana and a good performance at CentralWorld.

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Stecon sees backlog riseContractor seeks work in Maldives
By: NAREERAT WIRIYAPONG
Published: 18/05/2009 at 12:00 AM
Newspaper section: Business
Sino-Thai Engineering and Construction Plc (Stecon) expects its backlog will rise by 50% to 15 billion baht this year despite the local outlook, as it seeks to enter overseas markets starting with the Maldives.

"We are going to participate in every new project to be launched in the local market and overseas," said Woraphant Chontong, senior executive vice-president for finance and administration. "In the best case, we could potentially post a total backlog of 15 billion baht compared with 10 billion as of last year."

However, the country's third largest construction firm expects total revenue to drop to 11-12 billion baht this year from 14.5 billion in 2008, due mainly to the delay of government mass-transit projects.

Two major bids are expected to be called later this year, for a second Purple Line contract and for the Green Line. The first Purple Line contract was won by Ch. Karnchang (CK), Thailand's second largest construction company, after the government secured loans from Japan for construction.

"So far, the government has been slow to launch megaprojects and the delay has hurt all construction companies," said Mr Woraphant. "Unstable politics remains a concern of the sector and we do hope things will stabilise, so more projects would be launched for us to take part."

Stecon reported total revenue of 2.69 billion baht for the first quarter, down from 3.7 billion in the same period of last year. However, net profit rose from 45.7 million to 47.7 million baht, on higher margins because of falling prices of steel and crude oil.

The company's margin has increased to 3.5% this year from 2.8% last year, and it should improve further in the second half unless oil prices jump significantly, Mr Woraphant said.

As well, he said, Stecon has begun to pursue construction work in the Maldives, starting with a hotel project worth $20-30 million.

"The construction market is less competitive in the Maldives than in the Middle East, so it is considered less risky for us. The competitors are mostly local operators."

The winning bidder for the Maldives hotel will be announced in the fourth quarter and the project could generate revenue for Stecon in 2010 if it wins.

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AGRIBUSINESS
CPF's Q1 profit up 71% on fatter margin, low costs
14/05/2009 : Charoen Pokphand Foods (CPF), Thailand's largest agro-industrial and food conglomerate, saw its net profit soar 71% in the first quarter of this year thanks to improving gross margins and lower raw material
.-------------------------------------------------------------

RETAIL PROPERTY

CPN to review stalled projects
By: PITSINEE JITPLEECHEEP
Published: 14/05/2009 at 12:00 AM
Newspaper section: Business
The SET-listed property developer Central Pattana Plc will revise investment plans for delayed projects worth at least 10 billion baht by mid-June.



The 4.6-billion-baht CentralPlaza Chon Buri is due to open on May 29. The 165,000-squaremetre complex will house more than 200 tenants, including Robinson Department Store, Tops Market, PowerBuy and SF Cinema City.
The revised plan is a reaction to early signs of improvement in the local economy and a calmer global outlook, said president and CEO Kobchai Chirathivat.

Stimulus packages in Japan, Singapore, Hong Kong and China have caused the Asian economy to rebound faster than expected.

"We believe that our economy and politics have already passed their lowest point and it is now the time to take off again," he said.

Central Group decided to postpone construction of new complexes for one or two years, after last November's airport closure and political unrest. This included new projects in Chiang Mai, Chiang Rai, the Rama IX area in Bangkok, and the renovation of Central Plaza Lat Phrao.

The return of foreign investors to the local stock market, lower-than-expected job losses in Japan, and the improving US economy were among the factors that suggested economic improvement, said Nattakit Tangpoonsinthana, executive vice-president for marketing at CPN.

Moreover, visitor traffic at CPN's new shopping complexes in Bangkok and Pattaya has been better than projected.

People might stop buying residential projects and cars, but they still go shopping, said Mr Nattakit.

Apart from the investment review, CPN also plans to renovate its new branch in Udon Thani, taken over from Charoensri Plaza in April. This is to cater for this November's SEA Games in nearby Laos.

Mr Kobchai said yesterday the grand opening of the 4.6-billion-baht CentralPlaza Chon Buri would be on May 29.

CPN decided to develop the project because it believes Chon Buri offers potential as it is a significant commercial city that continues to experience economic and industrial growth.

Chon Buri province has more than 1 million inhabitants and a large number of foreigners working in local industries, as well as Thailand's second-highest gross provincial product after Bangkok.

CentralPlaza Chon Buri was built on the 62-rai plot with a construction area of 165,000 square metres. It will house more than 200 tenants, including Robinson Department Store, Tops Market, PowerBuy and SF Cinema City. The company plans to spend 90 million baht on the grand opening of its complex.

CPN expects its sales this year to increase by 20-25% to 12.5 billion baht.

CPN shares closed yesterday on the SET at 14.80 baht, down 20 satang, in trade worth 40.14 million baht.
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SF set to bring Ikea to ThailandFirst store planned at B10bn Mega Bang Na
By: PITSINEE JITPLEECHEEP
Published: 12/05/2009 at 12:00 AM
Newspaper section: Business
Siam Future Development Plc (SF) yesterday announced a joint venture with foreign and Thai partners to develop a 10-billion-baht home furnishing centre that will bring the long-awaited Ikea brand to Thailand.



Finance Minister Korn Chatikavanij (centre) congratulates Mr Huzell (right) and Mr Nopporn after the signing ceremony. PHRAKRIT JUNTAWONG
Under the plan, SF Development has been set up with registered capital of 2.5 billion baht. SF and Ikano, which has franchise rights to operate Ikea in Singapore and Malaysia, hold 49% each. S.P.S Group, a Thai firm that has supplied furniture to Ikea for almost 20 years, holds the remaining 2%.

Construction will start at the Mega Bang Na complex in the third quarter of this year and the centre is scheduled to open by October 2011, said SF chief executive Nopporn Witoonchart.

Mega Bang Na will be on a 290-rai plot on the Bang Na-Trat KM 9, Kanchanaphisek outer ring road and will have a total space of about 200,000 square metres. Its features will include a 40,000-sq-m Ikea store, a department store, branded fashion outlets, restaurants, an IT centre, an entertainment centre and parking for 8,000 cars.

Mr Nopporn said Mega Bang Na is expected to create 20,000 jobs and also to generate business opportunities for local contractors and suppliers.

The company anticipates that Mega Bang Na will attract 40 million visitors annually, and will generate 1.4 billion baht in revenue in its first year.

Ikano managing director Tom Huzell said Thailand's large population made it an important market for Ikea. The country is also one of the Asian production bases for Ikea worldwide.

S.P.S. Group normally supplies Ikea with furniture worth about 5 billion baht each year. But the company has recently secured orders from Ikea worth 15 billion baht - about 25% of the value of the country's total furniture exports per year.

Ikea has 300 stores in 35 countries, of which Ikano Private Limited operates two in Singapore and one in Malaysia - as well as the upcoming store in Thailand.

Mr Huzell said Ikano plans to open two more Ikea stores in Thailand over the next 10 years. Each outlet will require an investment of 3.5-4 billion baht. If the store at Ikea Mega Bang Na attracts 5.5 million visitors, the company will consider developing a second branch at the complex.

Siam Future Development Plc plans to invest a total of 1.6 billion baht on Mega Bang Na and on a new shopping complex in Navamin. The company expects to gain 1.7 billion baht revenue this year, up 10% from last year.

SF shares closed on the Stock Exchange of Thailand yesterday at 3.70 baht, up 32 satang, in trade worth 13.97 million baht.

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[ThaiClaus]

Amata set for zero sales in Q2
By: YUTHANA PRAIWAN
Published: 29/05/2009 at 12:00 AM
Amata Corp, the country's largest industrial estate developer, expects not to close any deals in the quarter ending in June, says CEO Viboon Kromadit.

"We sold only 50 rai in the first quarter and none in the second quarter since it is not possible to conclude any purchase deal within one month left for the quarter," he said yesterday.

Amata recorded a first-quarter net profit of 67.12 million baht (0.06 baht a share), a 74.5% fall from 264.05 million (0.25 baht a share) the year before. Its land sales in the period fell 49% year-on-year to 301.7 million baht.

"So far, the situation has been unpredictable. We have no idea how much money we can make this year," he said.

Most clients who would have purchased 200 rai in the first half of this year have suspended their investment projects, while some had left their construction sites unfinished. These companies are in the automotive industry, mostly auto-parts makers.

The first quarter's revenue decline was worse than what the company has been forecasting for the whole year. Amata was hit harder than other industrial land developers as it caters heavily to the automotive industry.

Mr Viboon said that while Amata projected zero land sales in the second quarter, it would accelerate construction of factories for rent, for which clients were waiting to move in. It targets 600 million baht from rents by next month.

The company has already offered a 7% discount in rental fees to clients.

Last year, more than 50% of Amata's revenue came from selling 896 rai, followed by the utility business (29%) and factories for rent (9%). The rest came from services and other businesses.

In light of the poor performance, the company postponed its 3-billion-baht loan payment by another two years to 2010. The loans, which fell due this year, are from Kasikornbank, Bangkok Bank and Siam Commercial Bank.Mr Viboon is reluctant to say whether the global economic crisis has bottomed out. "If [the economy] is really starting to recover, I should have seen some investors taking an interest in moving forward with their projects. So far, I haven't seen any," he said.

Amata is also facing late payments by some clients, prompting it to be strict in enforcing its three-year payment period.

Amata shares closed yesterday on the SET at 4.90 baht, down two satang, in trade worth 26.4 million baht

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
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Saha sees long slump
Sales could decline 10% in worst case
By: PITSINEE JITPLEECHEEP
Published: 27/05/2009 at 12:00 AM
Newspaper section: Business
Saha Group, the country's largest consumer product conglomerate, is pessimistic about an early economic recovery and says its sales this year could fall 10% from last year, its biggest contraction in decades.

Chairman Boonsithi Chokwatana said sales in the first four months of this year fell about 7% year-on-year, in line with the 7.1% decline in the country's gross domestic product (GDP).

The baht's appreciation was partly to blame for the poor result. Sales of its textile business, particularly exports, dropped more than 30%. Other busi nesses including fashion apparel and shoes have also been affected by the poor economic environment.

''I still question how the local economy will recover this year,'' Mr Boonsithi said yesterday. ''We project our business to have negative growth of 5% or 10% in the worst case this year.''

Sales of Saha Group, which has dozens of affiliates, were about 100 billion baht last year, up by 2-3% from the year before.

Mr Boonsithi said the company was not expanding its businesses this year the way it normally would. Apart from the decline in sales, its bottom-line profit in the first four months was worse as the group had to be very careful about currency exchange rates and maintaining its export accounts.

''We are more cautious about any new investment this year as it will take a longer time to revive the country's economy. However, we would continue to invest if we see opportunity. There are many business deals under negotiation for acquisition,'' he said.

He added that Saha Group had relied more on domestic consumption in recent years. The contribution of exports is therefore down to 20% from 30%.

Mr Boonsithi called on the Bank of Thailand to intervene in the currency market and let the baht, now around 34 to the dollar, weaken to as low as 40 to help exporters.

A weaker baht, he believes, would lead to improvements in the overall economy within six months. It will not only benefit the export sector but also tourism and agriculture, he added.

Mr Boonsithi gave China as an example. He said that the yuan had weakened over the years from five to the dollar to around 8.20 today. With good currency management, China is now one of the strongest economies in the world with strong foreign reserves, he said.

The Korean and Indonesian governments have also been allowing their currencies to weaken to help exports and counter the global economic crisis.

Boonkiet Chokwatana, president of ICC International Plc, a marketing arm of Saha Group said the company would organise its 13th Saha Group Fair at the Queen Sirikit National Convention Center in Bangkok from June 25-28.

It intends to offer shoppers value for money on 1,000 product items at 850 booths. Innovations to be showcased this year include shoes that protect feet from bacteria, new fabrics ideal for tropical climates and facial masks from Japan that are claimed to kill up to 99.99% of germs in the air.
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Poor Q1 pushes down projections
Economy now forecast to shrink up to 3.5%
By: CHATRUDEE THEPARAT PARISTA YUTHAMANOP
Published: 26/05/2009 at 12:00 AM
Newspaper section: Business
Thailand's economy fell more than expected in the first quarter, prompting the state planning agency to cut its forecast for the year to a contraction of between 2.5% and 3.5% from an earlier projection of zero to -1% growth. Gross domestic product fell 7.1% in the first three months due to falling exports and a tourism slump, after declining 4.2% in the previous three months, according to Ampon Kittiampon, the secretary-general of the National Economic and Social Development Board (NESDB).






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Hospital expects 3-4% fewer patients in 2009
By: VICHAYA PITSUWAN Published: 30/05/2009 at 12:00 AM
Newspaper section: Business
Bumrungrad Hospital Plc (BH) admits it will miss its forecast of a 15% growth in revenue due to the global downturn, local political unrest and the H1N1 influenza's impact on travel. Under the current economic circumstances, maintaining revenue is high performance, said CEO Mack Banner.

''Last year, before the economic downturn took its course, we were aiming at 15% growth, but we are not going to come close to that. Seeing a flat rate would already be considered a high performance. I expect to see our revenue this year stay fairly solid,'' he said.

Patient volume fell year-on-year in the first five months of 2009 as the slowdown caused some customers to shift to cheaper operators, he said.

Local political turmoil and concerns over the H1N1 outbreak have also deterred some foreign customers. Mr Banner now expects overall patient volume to drop by 3-4% this year.

Despite fewer customers, BH saw 7% year-on-year growth in the first quarter and hopes for substantial growth in the third quarter, its high season.

Foreign patient number also rose in the first quarter as fees compared well with competitors in countries such as Singapore or India, Mr Banner said.

Revenue per patient also rose as they tended to focus on major treatments.

''I hope to see us perform better in the third quarter, when our chief foreign customers _ who are from Middle Eastern countries and the United States _ enter their travelling season,'' he said.

BH patients are 42% international and 58% Thai, but 55% of the hospital's revenue comes from foreign patients.

BH is also trying to improve its image among Thais, altering the perception it only treats foreign patients.

''The fact is that the majority of our customers are local Thais, so we are trying to change the image that makes people see us incorrectly,'' he said.

''We have introduced a privilege card for Thais only that allows them executive check-ups and generous discounts on rooms and medical costs. We hope to show that they [Thai patients] remain important to us.''

A second campaign based around the card will launch in the second half of the year, he said.

BH recorded 8.9 billion baht in revenue in 2008 with net profit of 1.19 billion. In first three months of 2009, BH recorded 2.32 billion baht in revenue and net profit of 338 million, up from 314 million a year earlier.

BH has set aside a budget of 1.186 billion baht this year for renovating facilities to accommodate more customers. The investment will focus on upgrading and replacing machinery and on renovating patient rooms.

''I think the medical industry will be the first to recover when the economy picks up because during downturns uncertainties make people hold tight to their wallet _ but, as the uncertainties diminish, people's first priority is fixing health problems,'' he said.

BH shares closed yesterday on the SET at 27.50 baht, down 25 satang, in trade worth 11.11 million baht.

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CONSTRUCTION
Toyo-Thai to sell 130m shares in IPO
28/05/2009 : Toyo-Thai Corporation Plc, a leading construction company, will list on the Stock Exchange of Thailand on June 16 as the main board's first initial public offering this year
The company plans to float 130 million new shares, or 27% of registered shares, with the IPO price ranging between 3.75 to 4.25 baht each. The IPO price will be set after book-building with institutional investors on June 3. The share subscription is due between June 9 and 11.

The funds from the IPO will be used to increase the capacity in undertaking world-scale projects worth 10 billion to 17.6 billion baht per project and for further international expansion, especially in the Middle East and some Asian countries.

The company yesterday announced it had won four EPC (engineering procurement construction) contracts with a combined value exceeding 2 billion baht. The projects are commissioned by PTT, Japan-based Ube Group, Asahi Chemical Group and Bio Natural Energy.

Hironobu Iriya, president and CEO of Toyo-Thai Corp, said that among the four new contracts, the first was a facility in Rayong for Thai Caprolactam, a unit of Ube Group. The 2-billion-baht plant has an annual capacity of 6,000 tonnes and will be completed in 2011.

The second is the chlor-alkali project for AGC Chemicals (Thailand) Co, with a total investment of 400 million baht. Located in Samut Prakan, the plant will be finished in the first quarter of 2010.

The third project is the standard lube base oil production unit of PTT. The 500-million-baht project will be completed by March next year.

The last project is the 300-million-baht methane-fuelled power plant for Bio Natural Energy of the Pornvilai Group.

Mr Iriya said the company's backlog now stood at 9 billion baht and more revenue would be realised from the second half of this year.

Suvit Manomaiyanon, director and general manager of Toyo-Thai Corp, said the company grew 48% on average per year from 2005 to 2008. It booked revenue of 11.05 billion baht and net profit of 314 million baht last year, a 141% and 124% rise respectively from 2007.

For the first quarter of 2009, the company reported a 98% increase in revenues to 4.07 billion baht while net profit was up 53% to 140.08 million baht.

Paiboon Nalinthrangkurn, CEO of Tisco Securities, the company's financial adviser and lead underwriter, said Toyo-Thai had solid financial status with 4 billion baht in cash and no interest-bearing debts. The return-on-equity ratio in the construction sector is expected at around 46% this year.


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economy.
Test specialist Qualitech to sell IPO shares at B4
28/05/2009 : Qualitech Plc (QLT), a specialist in non-destructive testing and inspection for the energy and petrochemical businesses, will list on the Market for Alternative Investment (MAI) on June 9.

QLT will float 20 million shares in an initial public offering tomorrow, Monday and Tuesday.

The IPO price is set at 4.00 baht per share with a par value of one baht. Phillip Securities is the main underwriter, with Finansa Securities and Country Group Securities as co-underwriters.

The capital raised will be used to invest in non-destructive testing equipment, expanding QLT's branch in Rayong province and for working capital, said managing director Sannpat Rattakhan.

"Engineering inspection and testing have plenty of room to grow and they are necessary for industrial production," he said.

QLT is a top company in the sector. It differs from others in that the company has equal revenues from non-destructive testing, inspection and certification.

Each service has different strengths. Non-destructive testing offers growth potential, while inspection and certification services generate steady revenues from long-term contracts, he said.

These factors will drive the company's earnings even while the economy is slowing. QLT's clients are predominantly private projects that are legally required to have their equipment and services inspected. "So we're not worried about bringing QLT shares to list on the MAI at a time of gloomy market sentiment."

The company plans to expand its business overseas and is now negotiating with potential partners in the Middle East. The projects will in the oil exploration and production sectors, said Somchaan Lubtikultham, deputy managing director at QLT.

"QLT has a lot of experience and is ready to go international. Our major clients can be our good references, such as PTT, Siam Cement and Chevron. Now foreign projects generate 10% of total revenues," he said.

QLT is inspecting a dam in Laos which yields 5-6 million baht. Its staff has increased to 350, from 150 five years ago, and will expand to 400 within the year.

QLT had a 40% gross profit margin and a 20% net profit margin last year. It has set a sales growth target of 10% this year, from 245 million baht in 2008.

Phillip Securities' head of investment banking, Vicha Tomana, said QLT's price-to-earnings ratio was a low 5.6 times compared with 8 for the industry.

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East Water halves investment budgetBy: YUTHANA PRAIWAN
Published: 28/05/2009 at 12:00 AM
Newspaper section: Business
East Water slashes investment budget by 50%Eastern Water Resources Development and Management Plc has cut its five-year 6.7-billion-baht investment budget by almost half to 3.6 billion baht in light of the struggling economy, says CEO and president chief executive Praphant Asava-aree.

''The reduction of capital expenditure will also make budgetary spending more effective as the current situation isn't good for using too much money,'' said the company's CEO and president.

New desalination facilities and tap water network development are among the suspended projects, which were aimed at supplying fresh water to users in the eastern provinces.

''We cut those projects first as they required large budgets. The new reservoir in that area has also been halted,'' he said.

The company's five-year budget, which ends in 2013, has been cut to 3.6 billion baht from 6.7 billion. It was planned to focus on the development of a third-phase water pipeline, upgrading the water distribution system and for cutting water production costs.

''The suspended plans exclude our overseas expansion plan, which we are now studying to seek opportunities abroad through either the acquisition of operating assets or new project investments,'' said Mr Praphant.

East Water is also considering shifting its focus from China, India and Vietnam to developed countries, such as Australia and Singapore, due mainly to their clearer local regulations and laws.

''We have seen margins from the tap water business in Thailand gradually decline as a result of the government's retail price interference. The only chance for the business in Thailand would be in the untreated water supply for the Southern Seaboard,'' he said, adding that the southern project's development had already been delayed for two decades.

East Water's untreated water reserve rose by 33% to 315 million cubic metres (mcm) from 235 mcm after its new 1.68-billion-baht Prasae-Khlong Ya untreated water reservoir was finished recently.

Water consumption in East Water's coverage area is expected to grow to 675,000 cu m per day this year from 600,000 at the end of 2008. However, overall annual water consumption this year is expected to drop 5% to 214 mcm from 224 mcm year-on-year due to the economic slump.

East Water reported that its first-quarter revenue rose 13.9% to 698 million baht from 613 million a year earlier. Its untreated water sales volume dropped by 10.5% to 54 mcm, while tap water sales rose by 7.51% to 13 mcm.

East Water shares (EASTW) closed yesterday on the SET at 3.42 baht, up 10 satang, in trade worth 3.26 million baht.

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SSI more bullish on profit this year
By: VICHAYA PITSUWAN
Published: 28/05/2009 at 12:00 AM
Newspaper section: Business
Thailand's largest hot-rolled steel maker, Sahaviriya Steel Industries (SSI), is confident that it will return to profit this year as both steel prices and the demand slump have bottomed out since the first quarter.

SSI president Win Viriyapraphaikit sees increasing margins as selling prices have not dropped as much as raw material prices, and market share has improved locally while exports to China have risen.

Mr Win is confident SSI will post a positive result in the second quarter after reporting a net loss of 1.87 billion baht in the first quarter as inventory value dropped.

However, Mr Win said SSI still had no plan to pay a dividend until the consolidated loss from the previous year is covered.

The positive expectation is supported by the increase in the rolling margin, from less than $100 per tonne on average last year to $125 this year as raw material prices have dropped more than selling prices.

"Changing our marketing strategy to shorten the product delivery period from two months to one allowed us to gain more market share," Mr Win said.

"Shortening the period reduced customers' risks of price fluctuations," he said, adding that the strategy was expected to increase SSI's local market share to as high as 50% from current local sales.

He said the company expected to see its sales volume increase by 50% in line with market share to 1.5 million tonnes from one million tonnes last year. It is currently running at 35% capacity. It also hopes to see its exports perform better this year, as it now estimates they will make up 15% of total sales, up from 10% in an earlier estimate.Increased demand from China has contributed 50% of its export income. Other markets are various Asian and Middle Eastern countries.

"China started to be a net importer of steel products in March of this year, after it was a net exporter for the last three years. We expect to sell about 60,000 tonnes of steel to China and gain about 1.7 billion baht in revenue," he said.

Hot-rolled steel prices are expected to rise about 10% toward the end of the year from the current $450-500 per tonne. This would be in line with rising crude prices, while steel demand is also expected to increase. In the local market, demand in the construction industry has not improved but a slight recovery occurred in the automotive market, Mr Win said.

Local steel consumption is expected to drop 20% from last year, while global demand should only reduce by 15%.

SSI shares closed yesterday on the SET at 1.69 baht, up 10 satang, in trade worth 23.38 million baht.

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Saha sees long slump
Sales could decline 10% in worst case
By: PITSINEE JITPLEECHEEP
Published: 27/05/2009 at 12:00 AM
Newspaper section: Business
Saha Group, the country's largest consumer product conglomerate, is pessimistic about an early economic recovery and says its sales this year could fall 10% from last year, its biggest contraction in decades.

Chairman Boonsithi Chokwatana said sales in the first four months of this year fell about 7% year-on-year, in line with the 7.1% decline in the country's gross domestic product (GDP).

The baht's appreciation was partly to blame for the poor result. Sales of its textile business, particularly exports, dropped more than 30%. Other busi nesses including fashion apparel and shoes have also been affected by the poor economic environment.

''I still question how the local economy will recover this year,'' Mr Boonsithi said yesterday. ''We project our business to have negative growth of 5% or 10% in the worst case this year.''

Sales of Saha Group, which has dozens of affiliates, were about 100 billion baht last year, up by 2-3% from the year before.

Mr Boonsithi said the company was not expanding its businesses this year the way it normally would. Apart from the decline in sales, its bottom-line profit in the first four months was worse as the group had to be very careful about currency exchange rates and maintaining its export accounts.

''We are more cautious about any new investment this year as it will take a longer time to revive the country's economy. However, we would continue to invest if we see opportunity. There are many business deals under negotiation for acquisition,'' he said.

He added that Saha Group had relied more on domestic consumption in recent years. The contribution of exports is therefore down to 20% from 30%.

Mr Boonsithi called on the Bank of Thailand to intervene in the currency market and let the baht, now around 34 to the dollar, weaken to as low as 40 to help exporters.

A weaker baht, he believes, would lead to improvements in the overall economy within six months. It will not only benefit the export sector but also tourism and agriculture, he added.

Mr Boonsithi gave China as an example. He said that the yuan had weakened over the years from five to the dollar to around 8.20 today. With good currency management, China is now one of the strongest economies in the world with strong foreign reserves, he said.

The Korean and Indonesian governments have also been allowing their currencies to weaken to help exports and counter the global economic crisis.

Boonkiet Chokwatana, president of ICC International Plc, a marketing arm of Saha Group said the company would organise its 13th Saha Group Fair at the Queen Sirikit National Convention Center in Bangkok from June 25-28.

It intends to offer shoppers value for money on 1,000 product items at 850 booths. Innovations to be showcased this year include shoes that protect feet from bacteria, new fabrics ideal for tropical climates and facial masks from Japan that are claimed to kill up to 99.99% of germs in the air.

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PROPERTY
Sansiri cuts costs to achieve double-digit margin25/05/2009 : The listed developer Sansiri Plc is confident its cost-control strategy will help lift its low net profit margin toward double digits by year-end, says president Srettha Thavisin.
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Monday.
1Q/09 GDP down 7.1%25/05/2009 : Thailand's gross domestic product (GDP) in the first quarter of this year fell 7.1 per cent, the National Economic and Social Development Board (NESDB) reported on Monday
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[Benx]

PTT unit merger to be finalised in October

TOP, PTTCH, IRPC, PTTAR to become one

PTT Plc, Thailand's national energy conglomerate, aims to finalise details of consolidating its four subsidiaries by October for a new structure to take effect from 2010.


http://www.bangkokpost.com/business/economics/17706/ptt-unit…

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
----------------------------------------------------------------

Thai CP Foods sees higher 2009 net profit
Fri Jun 5, 2009 5:15am EDT

* Sees a 2009 net profit rise; lower raw material prices
* To spend 4.5 billion baht this year on expansions
* Delays bond sale to 2010 from second half of 2009 (Adds details)

BANGKOK, June 5 (Reuters) - Charoen Pokphand Foods (CPF.BK), Thailand's largest chicken exporter, said on Friday its 2009 net profit would exceed the 3.1 billion baht ($91 million) of last year as it beefed up production and controlled costs.

"It will be a healthy year for us. We made good profits in the first quarter and we expect better performances in the second and third quarter," Managing Director Adirek Sriprathak told reporters.

Its first-quarter net profit rose 71 percent to 771 million baht as falling prices of corn and soybean meal raw materials, used for animal feed, boosted profit margins.

Sales for the year would increase 10 percent from last year's 156 billion baht amid growing food demand globally, and the company would pay a higher dividend in 2009 compared to a year ago, Adirek said.

Eight analysts polled by Reuters Estimates forecast, on average, a net profit of 3.4 billion baht for 2009 on revenues of 161 billion baht.

Gross margins would average at least 14 percent this year compared to 13 percent last year because the company restocked raw materials for the second and third quarter at low prices, company chief financial officer Paisan Chirakitcharern said.

It planned to spend 4.5 billion baht this year on increasing efficiency and expanding its domestic and overseas businesses, including chicken business in Turkey and swine farm in Russia, Paisan said.

The company has delayed a plan to sell bonds worth 5 billion baht to next year from an earlier plan for the second half of 2009 and it would finance spending this year by bank loans, he said.

At 0854 GMT, CP Foods shares were up 1.9 percent at 4.4 baht while the main Thai stock index .SETI was up 1.6 percent. ($1 = 34.11 Baht) (Reporting by Manunphattr Dhanananphorn; Writing by Viparat Jantraprap; Editing by Lincoln Feast)

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi

----------------------------------------------------------------
Suchart: 2009 GDP to contract 4%09/06/2009 : Former finance minister Suchart Thadathamrongvej has

---------------------------------------------------------------


CCI drops to 90-month low
11/06/2009 : The consumer confidence index went down for four straight months to stand at 77.5 in May

----------------------------------------------------------------------
PricewaterhouseCoopers (PwC).

World Bank sees 3.0% global contraction
11/06/2009 : The World Bank said Thursday the global economy is set to contract some 3.0
-------------------------------------------------------------------

By: PHUSADEE ARUNMAS
Published: 12/06/2009 at 12:00 AM
Newspaper section: Business
Confidence amCONSUMER CONFIDENCE

Index plummets to a 7-year lowong Thai consumers fell to a seven-year low in May, on the back of growing concerns over the cost of living, the government's stability and higher oil prices.

The Consumer Confidence Index (CCI) fell to an 84-month low of 71.5 from 72.1 in April, according to a survey by the University of the Thai Chamber of Commerce (UTCC).

A score below 100 indicates pessimists outweigh optimists. The index has been below 100 for 59 consecutive months.


-----------------------------------------------------------------
CAREFUL INVENTORY AND CASH MANAGEMENT HELP PTL
By: SHAREINVESTOR
Published: 12/06/2009 at 12:00 AM
Newspaper section: Business
Polyplex (Thailand) Plc (PTL) was incorporated on March 26, 2002 with initial registered capital of 400,000 baht to manufacture and distribute PET (polyethylene terephthalate or polyester) film. Registered capital was subsequently increased to 400 million baht in 2002. India-based Polyplex Corporation Limited (PCL) holds 70% in the company through direct and indirect shareholdings. Rohit Kumar Vashistha, director and profit centre head, discusses the company's strategy and outlook.BUSINESS:



Vashistha: Volatility down since February
Please explain PTL's business model.

PTL operates in the PET thin film segment focusing on the packaging, industrial and electrical segments, the fastest growing demand segments, with a historic growth rate of 8-10% a year. We believe in customer intimacy, and in order to service our customers better across the globe, we have followed a "near-shoring" strategy with manufacturing facilities in key geographic locations in India, Thailand and in Turkey.

We have a two-pronged strategy. First is co-centric diversification: apart from PET films, where we have attained the fourth largest capacity globally, we are diversifying into other packaging films to broaden our offerings. Second is our focus on value-added streams through downstream investments such as metallised films, extrusion coated films, siliconising and so on.

What is the breakdown of group revenue and what are the utilisation rates?

On a group level, exports represent close to 70% of our total sales and geographically our sales are relatively evenly split among Asia, North America, Europe and the rest of the world. PTL's stand-alone sales revenue would be about 80-85% from exports and rest in the domestic market.

For PET film (plain and metallised) sales, about 80-85% of our products cater to the packaging end-use segment and the balance in the industrial and electrical segments. Our plain PET film lines are currently running at 100% capacity in Thailand and 90-95% in Turkey.

Who are PTL's major customers? How are they handling the global slowdown?

About 50% of PTL's sales are through distributors spread across various regions. The majority of our customers are in the flexible packaging business, who print and laminate different plastic films - PET, BOPP, MPET, CPP etc. These laminates are then converted into packaging pouches meeting various requirements of end-users, primarily fast-moving consumer goods (FMCG) companies.

There has been some impact of the global slowdown on our customers and there was a temporary contraction in the second half of the previous financial year, particularly from November 2008 to February 2009. During the July~September 2008 period, aggressive inventory buildups occurred across the entire supply chain, followed by aggressive destocking, leading to orders drying up by nearly 40% during the November-January period. However, food being recession-resistant, demand in Asia has since revived. We have not had any major cases of customers going bankrupt or defaulting on payments.

How are capacity expansions progressing? Are there plans for further expansion?

In the 2008-09 financial year, we had some new capacity starting up in Thailand (an extrusion coating line and a second metallised film line) and in Turkey (a second PET thin film line and a second metallised film line).

A cast polypropylene film (plain and metallised CPP) in Thailand is expected to start operations by the third quarter of the 2009-10 financial year. The board has also approved an investment in a silicone coating line, either in Thailand or in Turkey within 12 to 18 months of financial closure. The US$70-million PET thin film expansion project of PTL, approved in principle by the board in May 2008 is currently on hold due to the global slowdown. We shall re-evaluate this in the next few months.

Our parent in India also has expansion projects coming onstream by the end of this fiscal year, so on a group level capacity is rising not only in PET thin film but in related diversification such as CPP and BOPP film.FINANCIAL PERFORMANCE:

PTL's latest statements were impressive with no inventory losses. How did PTL achieve this?

PTL did not suffer any major inventory losses, since we do not carry very high levels of inventory at any given time. PTA and MEG, the two basic raw materials for polyester resin, are both procured locally and the lead time for delivery is very short. This gives us the benefit of carrying lower inventory levels. As for other Inventory items (polyester resin, finished goods, etc), we do not normally carry high stocks as our aim is to improve working capital management.MISCELLANEOUS:

What do you feel are the biggest risks facing your business today?

If commodity prices (mainly crude oil) continue to increase, this would be of concern to us, as it may affect raw material prices and our margins. We try to manage this risk by diversifying our into more value-added products. Other risks are currency and credit risks. Due to the global financial crisis, we are taking a conservative view as most of our customers are outside Thailand.

Has the global slowdown or local political turmoil affected your business?

The global slowdown did have an impact as there was a sudden drop in sales volume during the second half of the previous year. Since February, though, sales volumes have returned to normal levels. However, maintaining the same margins as in previous year will be a challenge.

The political turmoil in Thailand has not had any direct impact on our company, although a few overseas clients have asked about the situation and any possible impact on the continuity of our supplies.

Where do you see PTL in five years from now?

We see PTL further strengthening its market position through volume growth and improved cost structure. With the business strategy we have in place today, PTL is confident of delivering value to all our stakeholders - customers, suppliers, employees and valued shareholders.

The Executive Q&A Series is presented by ShareInvestor, Asia's leading financial internet media & technology company, and the largest investor relations network in the region with more than 400 listed clients. The interview is conducted by Pon Van Compernolle, managing partner of GVC Capital, an investment advisory firm focused on small-mid caps in Thailand. For more information, e-mail [e-mail] or [e-mail] or visit http://www.ThaiListedCompany.com

-----------------------------------------------------------------

SCNYL--SCSMG toechter der SCB

INSURANCE

SCB sets sights on 40% expansion of premiums
By: SOMRUEDI BANCHONGDUANG
Published: 12/06/2009 at 12:00 AM
Newspaper section: Business
Siam Commercial Bank has set an aggressive 40% growth target for its bancassurance business, with a goal of total premiums this year of 16 billion baht.

Adisorn Sermchaiwong, an SCB executive vice-president, said the bank aimed to book first-year premiums of 8.46 billion baht this year, of which 6.3 billion would be for life insurance and the rest non-life.

For the year to May, SCB booked premiums of 2.97 billion baht, or 20% higher than the same period last year.

SCB, the country's fourth-largest bank by assets, tops the bancassurance market with a market share of 30%. Bancassurance accounts for around 15% of the bank's total fee income from retail banking services.

Mr Adisorn said that the economic downturn actually benefited the bancassurance business, as investors looked for low-risk financial products in light of current market uncertainties.

Insurance also represented a good investment alternative to low deposit rates - a policy may pay an average 3% return per year compared with fixed deposit rates of 1%.

SCB yesterday introduced an Easy Protection Motor Card, a new motor insurance policy offering third-party life and injury protection and coverage of up to 100,000 baht for vehicular damage.

Customers need only provide their names, contact numbers and car registration to receive coverage, offered at a special price of 7,300 baht until July 31 through SCB branches nationwide.

SCB hopes to sell 50,000 of the cards this year, generating premiums of 350 million baht.

----------------------------------------------------------------

TRANSPORT
PSL: Shipping rates set to top 5,000 points
10/06/2009 : Shipping rates are expected to cross the 5,000-point mark later this year despite a recent retreat, says Precious Shipping Plc (PSL), citing current congestion at vessel discharge ports and the continued rise of


------------------------------------------------------------------


AIRLINES

THAI reconsiders costly jumbo jet deal
By: BOONSONG KOSITCHOTETHANA
Published: 9/06/2009 at 12:00 AM
Newspaper section: Business
KUALA LUMPUR : Thai Airways International (THAI) seems poised to cancel its order of six A380 superjumbo jets, which it considers not viable for its operations and, at a total cost of about US$1.8 billion, too expensive to fund.

Wallop Bhukkanasut, chairman of THAI's executive board, revealed the national carrier's revised stance on procuring the world's largest civil aircraft, which it agreed to purchase back in 2007 when the carrier was struggling to weather its worst financial crisis in 49 years.

"It is not economically viable to have and deploy this aircraft in our network," Mr Wallop said at the sidelines of the International Air Transport Association (IATA) annual general meeting being held in Kuala Lumpur.

Airlines operating A380s have found it difficult to achieve the yields they expected due to the global economic crisis, high operating costs and a lack of flexibility in moving the aircraft through airports, he said.

"It is a special mission airplane and can currently operate through eight airports around the world, meaning you can't put the aircraft on routes as you may wish," he said.

With THAI's planned configuration of the A380, the airline must fill 88.8% of 501 seats just to break even, he said.

"We need to make a major turnaround decision," he said.

He added that the final decision rests with the Thai government and the issue needs to be addressed by the Finance and Transport Ministries.

Top Airbus executives have already sensed THAI's new stance on the A380 and are reportedly seeking a meeting with Prime Minister Abhisit Vejjajiva.

"From the operating point of view, the A380 does not make economic sense. My immediate preoccupation is to enable THAI to survive the current storm and later to sustain the airline," he said.

When THAI puts its first A380 in the air in late 2011, the aircraft's novelty may have worn off. The plane may therefore no longer appeal to passengers as it currently does for Singapore Airlines and Emirates Airlines, which have A380s with more luxurious features - such as shower rooms for first-class passengers, in the case of Emirates.

"It could be a case of Johnny comes lately," Mr Wallop quipped.

THAI may be unable to compete effectively with other A380 operators on routes that the flag carrier has had in mind for some time, he said.

The airline planned to fly A380s on its long-haul routes, such as Bangkok to London, Paris and Frankfurt.

Yet Airbus may not be able to consign the megajets to THAI as scheduled in the latest timetable, he said.

THAI is prepared for "some acceptable" penalty arising from the contract breach with Airbus, but Mr Wallop said negotiations could take place on substituting the double-decker A380 jetliners with other Airbus aircraft.

"There is no contract that can't be broken or re-negotiated," said Mr Wallop, who retired as THAI's executive vice-president for commercial affairs two years ago and recently became chairman of the airline's executive board.

Financing the megajets, each costing about $300 million, as well as other new aircraft under the airline's re-fleeting programme will be a great burden for the airline.

THAI may have to extend the service years of its fleet, now averaging 12 years, to 20 years to reduce the expense of procuring new jets, said Mr Wallop.

"Instead of buying new planes, we can maintain THAI's appeal by refurbishing the cabins, which costs much less," he said.

The flag carrier, which has more than 80 aircraft, previously planned to procure at least 46 planes over the next decade and to retire 24 aircraft more than 20 years old in the next five years.

---------------------------------------------------------------

[lapamita]

Tuesday.
2009 economy to shrink by 4%
30/06/2009 : The country’s gross domestic product for 2009 would contract by about four per cent this year
----------------------------------------------------------------
June CPI drops 4%

01/07/2009 : The consumer confidence index (CPI) for June stood at 104.7, a decline of 4 per cent from the same month last year, but it was 0.4 per cent higher than that of May, the Ministry of Commerce announced on Wednesday.
-----------------------------------------------------------------
2009.
Big drop in visitors to Koh Samui
30/06/2009 : Th number of visitors to Koh Samui is down 40-50 per cent, especially foreigners, for the first six months of the year, compared to the same period last year, Koh Samui Tourism Promotion Association, Senee Phuwasetthavorn, said on Tuesday.
------------------------------------------------------------------
INTERNATIONAL TRADE
Exports to hit 18-year low
26/06/2009 : Thailand's exports are set to slip to an 18-year low, as shipments to key markets look unlikely to recover this year
------------------------------------------------------------------
AUTOMOBILES
Output sinks on grim outlook
24/06/2009 : Local automakers have cut production targets to reflect the global recession, saying they see no immediate signs of improvement in demand.
------------------------------------------------------------------


Export slump deepens in May on limp demand
20/06/2009 : Exports slumping for the fifth consecutive month in May prompted the government to cut its target this year to a contraction of 15-19% as shipments to the key markets are likely to remain weak until year-end.
-------------------------------------------------------------------

[Benx]

PTT: Die besorgen sich auch dauernd Geld, haben aber weniger Probleme als andere, es auch zu günstigen Konditionen zu bekommen...


http://www.bangkokpost.com/business/economics/148990/ptt-to-…


PTT Plc will test the capital market with another 30-billion-baht debenture issue in the next few weeks, according to chief executive officer Prasert Bunsumpun.
The debt issue will be divided into tranches with terms ranging from three to 15 years with annual interest rates ranging from 3.2% to 5.75%, with sub-dhscriptions from July 27-30.

The fund-raising is part of the majority state-owned energy group's plan to refinance debts and reduce funding costs.

Eleven commercial banks will serve as underwriters. They are Bangkok Bank, Kasikornbank, Krung Thai Bank, Siam Commercial Bank, Bank of Ayudhya, CIMB Thai, Siam City Bank, Standard Chartered Thai, TMB Bank, Thanachart Bank and Tisco Securities.

Fitch Rating (Thailand) has assigned a rating of AAA(tha) to the debentures. The minimum subscription is at least 100,000 baht each. PTT is awaiting final approval from the Securities and Exchange Commission.

PTT's investments this year involve overseas projects including a coal mine and biodiesel venture in Indonesia, and oil exploration and production in more than 10 countries, Mr Prasert said.

PTT Group is also studying a restructuring plan for its four subsidiaries _ IRPC Plc, Thai Oil Plc, PTT Aromatics and Refinery Plc and PTT Chemicals Plc. It may merge them into two entities to improve flexibility and economies of scale.

Subsidiary PTT Exploration and Production Plc two months ago issued the largest corporate debenture to date in Thailand, of 40 billion baht. Subscriptions were snapped up within hours.

Anon Sirisaengtaksin, the chief exec-dhutive officer of PTTEP, said the deben-dhtures offered an annual return at 3.25% for a three-year term, and 4% for a five-year term. Interest is paid quarterly.

In another development, shares of PTT Chemical gained the most in more than a month yesterday after JPMorgan Chase & Co raised the company's rating to overweight from neutral.
PTTCH jumped 6.7% to close at 43.75 baht on the Stock Exchange of Thailand, in trade worth 526.8 million baht.
``A recent drop in the company's share price is overdone,'' JPMorgan analysts Sukit Chawalitakul and Brynjar Eirik Bustnes said in a note to investors. ``PTT Chemical is better positioned than many of its peers, as it is completing a major expansion phase.''
PTTCH shares had dropped 33% since reaching an eight-month high of 61 baht on June 10. The slide has been driven by the recent sharp correction in crude oil prices, said the analysts, who have a price target of 57 baht for the shares.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF

Amata H1 land sales plummet 74%
More investors are choosing Vietnam
Writer: NANCHANOK WONGSAMUTH and VICHAYA PITSUWAN
Published: 17/07/2009 at 12:00 AM
Newspaper section: BusinessLand sales of Amata Corporation Plc, the country's biggest industrial estate developer, dropped almost 74% year-on-year to about 50 rai in the first half, says director Viboon Kromadit.

Last year, sales totalled 896 rai, of which 191 rai were sold in the first half.

The company expects the decline in land sales to continue into the second half of the year, due to the impact of local politics and the economic slowdown, said Mr Viboon, also the company's chief operating officer.

The economic crisis will linger for another three to six months, he said.

"It [the fall in sales] comes from economic and political factors, which are both internal and external factors," he said. "I don't think that the external factors already show a revival. Currently, we're at the bottom of the U-shape (in terms economic decline), but how long will that last?"

The Japanese are the biggest investors in Amata's industrial estates.

Currently Thailand's main competitor in attracting foreign direct investment (FDI) is Vietnam.

Last year Vietnam netted $64 billion in FDI, and recorded positive economic growth. In the same period, Thailand only attracted $10 billion in FDI, while its economy contracted.

About 20 customers are considering investing in Amata projects, but several other investors, including Posco Thailand, opted for Vietnam instead of Thailand, said Mr Viboon.

"They [investors] compare us with Vietnam mostly on the political factors. They think that our home is not a suitable place to live," he said. "Nowadays the Vietnamese also have an increased understanding in business."

Amata generates 8% to 10% of its income from Vietnam, where it currently has some 600 hectares (4,000 rai) of land being leased.

About half of the area is occupied by industrial clients, the rest is used for commercial purposes.

Amata's rental yield in Vietnam should grow by 5% to 10% this year, in line with the country's economy, he said.

The company currently more than 10,000 rai of land for sale in Thailand.

"Before the economic crisis, our intention was to sell 2,000 rai per year so the amount should be sold in four to five years. It should have been sold out by 2011," said Mr Viboon.

Only five to six factories were built on its land this year, compared to 102 in 2004, a rate of almost two factories per week.

"If we continue selling like this, the 10,000 rai wouldn't be sold out even when I'm old," he said.

AMATA shares closed yesterday on the Stock Exchange of Thailand at 4.72 baht, down six satang, in trade worth 54.1 million baht.


CPF expands Taiwanese operations
Group backs off from Indonesian dispute
Writer: CHAROEN KITTIKANYA
Published: 16/07/2009 at 12:00 AM
Newspaper section: BusinessCharoen Pokphand Foods (CPF) is acquiring a 32.41% stake of Taiwan's leading agro-industrial and food firm for 826 million baht, as part of its ambitious overseas business expansion.

The listed flagship subsidiary of the agribusiness giant Charoen Pokphand Group said yesterday that through its wholly owned investment arm CPF Investment Limited (CPFI), CPF would buy 75,194,164 shares of paid-up capital from five existing shareholders of Charoen Pokphand Enterprise (Taiwan) Co (CPE). The transaction would be completed in the current quarter.

Taipei-listed CPE is a leader in animal feed mills, meat processing and food processing in Taiwan, with total revenue of NT$13.07 billion and net profit of NT$211.74 million last year.

According to CPF's president and chief executive officer Adirek Sripratak, the investment in Taiwan will help expand income from CPF's overseas operations. In addition, CPF will utilise its experience to enhance the Taiwanese subsidiary's capability in processed food and swine businesses.

"CPF is confident its strategy to expand in high potential countries will enhance its business growth in the future. Our return this year on overseas operations should improve a lot and will be a major factor for net profit," said Mr. Adirek.

CPF's food business is expected to grow by 100% this year from 158.67 billion baht last year with a net profit of 3.12 billion.

CPF continues to expand in Turkey, India, Malaysia, Laos, the Philippines, England, China and Russia. It just opened its feed mill in Russia in May. Encouraged by healthy growth in the first quarter, it plans to invest 4.5 billion baht this year, including 2.5 billion in overseas expansion.

In a related development, CP Group yesterday reiterated it is a totally separate body from Central Proteinaprima (CP Prima), the world's largest shrimp producer based in Indonesia and is now involved in a legal battle with its overseas bondholders.

The dispute involves a group of international investors who bought a $200-million bond issue, and the banks who acted as the trustee and security agent for the debt.

The bonds were issued in 2007 by Red Dragon, controlled by the Chearavanont family.

The dispute pits the investors and banks against Red Dragon and three other firms controlled by the family through CP Group chairman Dhanin's elder brother Sumet, all of which own stakes in CP Prima.

The other three companies - Regent Central International, Charm Easy and PT Surya Hidup Satwa (SHS) - jointly supported Red Dragon's bonds by pledging their shares in CP Prima to back the issuance. Red Dragon and these companies together controlled 70.3% of CP Prima prior to the company's controversial bond issues.

The dispute escalated last year when the value of CP Prima's shares and bonds plunged.

Attempts to restructure the debt failed and bond holders ordered Bank of New York Mellon, the trustee, and PT Bank Danamon, the security agent, to transfer some of the shares held as collateral to the bondholders, sparking several lawsuits.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K

3K jump-starting B45m campaign
Writer: SANTAN SANTIVIMOLNAT AND NANCHANOK WONGSAMUTH
Published: 22/07/2009 at 12:00 AM
Newspaper section: Business3K Battery, the country's leading automobile battery brand, will spend about 45 million baht this year to launch the 3K Inside campaign to lift its sales and offer the 3K Station Express, its new standard battery service centres in urban communities.

Veerawat Korphaibool, director of Thai Storage Battery Plc and managing director of 3K Products Co, said the campaign should be a success.

"We are confident of a healthy performance this year despite the continued sluggishness of the economy and automotive industry, partially because of our campaign," he said.

3K Station Express will give its customers easy access to 3K Battery services, which include initial advice for electrical system breakdowns and choice of a battery to suit car use, as well as battery replacement service at home and battery-power checking service.

The first station will be established at the Tesco Lotus supercentre on Ramkhamhaeng Road soon after 3K Battery sales in modern trade outlets increase.

Services at the existing 200 3K Shops nationwide run by its dealers will be strengthened to ensure customer satisfaction, while the 24-hour roadside assistance service will also continue, regardless of whether the trouble involves battery problems.

A 3K assistance service roadshow will also be held this year to promote battery products at office buildings and department stores.

He said 3K Battery hoped to see its sales recover in the second quarter in line with the expected improvement in the automotive industry, which he believes has already bottomed out.First-quarter sales dropped 31.82% year-on-year to 780.5 million baht while net profit for the period also fell 27.7% year-on-year to 76.36 million as a result of the poor automotive industry outlook.
Last year, 3K product sales totalled almost 4 billion baht with a 476-million-baht net loss due to the rapid price increases for raw materials.

The price of lead reached US$3,000 per tonne in 2008 and has since eased back to its current $1,500-1,600 a tonne. This has led to a 30-40% decrease in the price of batteries, said Mr Veerawat.

He said that if the price of lead exceeds $1,600, the company might discuss the issue with the Department of Internal Trade, as the price of car batteries has been controlled since January.

"Declining performance in the first quarter is not that worrying, given gains from [foreign] exchange for the period were not as much as in the same period last year. Sales and profit that we will realise this year will come from actual performance as reflected by the gross profit in the first quarter, which grew significantly to 31.46% from 20.35% in the same period last year," said Mr Veerawat.

He believes first-half performance will be satisfactory and expects a healthy profit for the whole year with a 4-billion-baht sales target.

Half of 3K's products this year are destined for export markets in the United States, Europe, Africa, the Middle East and Japan.

Locally, 95% of its sales are in the replacement market. The company also has OEM (original equipment manufacturer) contracts with brands such as Volvo, Isuzu and GM.

Shares of BAT-3K closed unchanged yesterday on the Stock Exchange of Thailand at 47.75 baht, in trade worth 48,000 baht.

[lapamita]

Antwort auf Beitrag Nr.: 37.618.025 von ThaiClaus am 21.07.09 21:43:21

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep,
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ADB: Thai recovery to be tepid for yearsExport dependence slows any rebound
Writer: PARISTA YUTHAMANOP
Published: 24/07/2009 at 12:00 AM
Newspaper section: Business
The Thai economy has begun to recover but growth will be anaemic over the next several years, the Asian Development Bank says.

The ongoing financial crisis and rising unemployment in the US will significantly weigh on global trade, affecting export-dependent Asian economies.

Massive stimulus spending in China would only have a modest impact on regional economies, as most demand was driven by the US, Japan and Europe, said Jong-Wah Lee, the ADB chief economist, on the release of the bank's biannual Asia Economic Monitor.

But most Asian economies have bottomed out from the global recession, thanks to government spending and interest rate cuts, with signs of recovery seen in terms of retail sales and industrial production.

The ADB expects the Thai economy to contract by 2% this year. And the bank is expected to downgrade its 3% growth forecast for 2010 made in March, as the first quarter's 7.1% year-on-year contraction was worse than expected.

"The economic recovery in Thailand has already started after contraction in the first half of the year. It may regain the growth of 2008 (2.6%) in the next year, but will remain below the average growth of between 2003 and 2007," Mr Lee said.

Thailand recorded the worst economic slump in the first quarter of the year, due in part to its dependency on exports.

Fiscal and monetary policy were moving "in the right direction", Mr Lee said, but the government must ensure its policy implementation is efficient going forward.

Asian governments should continue to stimulate their economies as recovery in the industrialised nations will remain fragile.

The ADB forecasts that the G-3 will show a 4% contraction this year, its worst performance since World War II. Growth in the three largest economies will only rebound mildly to 1% in 2010.

Emerging Asean economies, including Malaysia, the Philippines, Indonesia and Thailand, recorded a 1% drop in economic growth in the first quarter.

Asia's newly industrialised economies, including Hong Kong, Singapore and Taiwan, experienced their worst contraction since the 1997 Asian financial crisis, with Taiwan and Singapore the hardest hit, Mr Lee said, adding that revised forecasts would be announced in September.

The decrease in external demand has led to a sharp investment decline in Singapore and Taiwan in the first quarter. But Asian economies are expected to rebound faster than other regions'.

"Asia could have a small V-shaped recovery, with growth dipping in 2009. And growth would remain below trend in 2010, mostly to come from domestic demand. But the full-fledged economic recovery is unlikely until the global economy truly recovers," Mr Lee said.

The ADB expects Asian economies to record 3% growth in 2009, compared to 6.2% in 2008. The region's growth is expected to rebound to 6% in 2010.

China's GDP growth is expected to slow this year to its worst pace in two decades, because of a sharp drop in exports. China is expected to grow 8% in 2010, thanks to both domestic demand and a modest recovery in the global economy.

The ADB expects the Chinese economy to grow 7% this year and bolster Asian exports of raw materials.

"While exports from Asean to industrialised economies continued to fall, exports to China and Hong Kong have started to rise. But it is estimated that 60% of China's total exports come from final demand in the major industrialised economies.

"So China alone or Asia alone cannot be the single engine of global growth," Mr Lee said.


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ASIA FOCUS

Thai exports start to benefit from China
Beijing's massive plans beginning to bear fruit
Writer: POST REPORTERS
Published: 25/07/2009 at 12:00 AM
Newspaper section: Business
Thailand's exports to China are likely to continue to grow over the remainder of this year as massive stimulus spending by Beijing is showing clear signs of lifting consumption and demand

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Wednesday.
Q2 GDP likely to fall 5-6%29/07/2009 : The economy in the second quarter of this year is expected to contract five to six per cent but the fourth quarter should turn out positive, according to the Finance Ministry's
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months.
June car exports drop 45.53%29/07/2009 : Vehicle exports for June were down on the same month last year by 45.53 per cent to 35,403 units, Surapong Phaisiahatthnapong, spokesman
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Flu could knock 2.2 percentage points off economy
Writer: WICHIT CHANTANUSORNSIRI
Published: 30/07/2009 at 12:00 AM
Newspaper section: Business
The H1N1 flu pandemic could cause the economy to contract by 2.2 percentage points this year in a worst-case scenario, the Fiscal Policy Office says.

The Finance Ministry unit estimates that the flu could cause the economy to contract by 0.51 to 2.2 percentage points. A base scenario, where the flu has a high immediate impact but a rapid recovery is seen, would hurt the economy by 0.85 percentage points.

The FPO last month estimated that the Thai economy would contract by 3% this year, with a range of -2.5 to -3.5% overall. But the forecast did not include estimates on the impact of the flu, which has so far claimed the lives of 65 people in Thailand with over 8,800 local cases recorded.

Somchai Sujjapongse, the FPO director-general, said that while global conditions were showing signs of improvement, fiscal spending needed to be accelerated to help mitigate the extent of the economic downturn this yea
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Most Viewed
Tourism plunges 22 per cent
The tourism industry has suffered its deepest slump in many
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SCG Q2 profits beats estimates siam cement der groesset bauzuliefe

30/07/2009 : Siam Cement Group (SCG), Thailand's largest industrial conglomerate, yesterday posted better-than-expected second-quarter results thanks to improving petrochemical margins

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.
Ratchaburi posts 62% profit
30/07/2009 : Thailand's largest private power producer, Ratchaburi Electricity Generating Holding Plc (RATCH), posted an increase of 62.4% in net profit in the second quarter despite a drop in revenue, due to better performance from subsidiaries.
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KITCHENWARE
Srithai eyes sales of B5bn
30/07/2009 : Srithai Superware Plc, the SET-listed melamine tableware and plastics manufacturer, expects sales of 5.1 billion baht this year even though its first half performance was below target.
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.
PTTEP profit down 50% to B6.5bn in Q2 28/07/2009 : PTT Exploration & Production Plc reported its second- quarter net income of 6.5 billion baht, down from profits of 12.99 billion the same period last year
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[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF

Thai Union Frozen Q2 profit soars; bullish for 2010
Thu Jul 30, 2009 4:48am EDT
By Viparat Jantraprap and Saranya Suksomkij

BANGKOK, July 30 (Reuters) - Thai Union Frozen Products PCL TUF.BK, Asia's biggest canned tuna exporter, said on Thursday its second-quarter earnings more than doubled, beating forecasts, and it was bullish for next year.

TUF, which makes the "Chicken of the Sea" brand and counts WalMart (WMT.N) and Costco (COST.O) among its buyers, is aiming for a 10-12 percent rise in net profit for 2009 from 2.2 billion baht ($64.6 million) in 2008.

President Thiraphong Chansiri told reporters he expected net profit to reach 3.0 billion baht next year and said the company was on track to meet a target of $3.0 billion in revenue by 2012.

The company expected healthy gross margins for the year, with cost controls and lower raw tuna prices continuing to boost margins in the second half, when demand was traditionally high.

The company aimed for an average gross margin of 14-15 percent this year, up from 12.7 percent last year, and expected 16 percent in the second half, Thiraphong told reporters.

"It's a high season for businesses and demand is generally higher than the first half ... We are confident of net profit growth this year," he said.

TUNA PRICES RISING

But some analysts are worried about a rise in the price of raw tuna since June.

Siam City Research Institute expects the company's gross margin to fall to 13-14 percent in the third quarter.

"The second-quarter result was a record high for the company and was above our forecast," the broker said in a research note.

"The healthy 16.2 percent gross margin of the second quarter was because of falling tuna prices in April and May but they have turned higher since June to $1,450 per tonne," it said.

April-June net profit was 954.5 million baht, up from 403 million baht a year ago and above the average 849 million baht forecast by eight analysts polled by Reuters.

Six-month net profit rose to 1.61 billion baht from 981.4 million baht. The company will pay an interim dividend higher than the 0.56 baht it paid for the first half of last year, Thiraphong said.

The second-quarter results took into account the shutdown costs for a Samoan plant of about $10 million, which the company would continue to write off in succeeding quarters, he said.
It would spend 1.6 billion baht this year on unspecified investments and another 1 billion baht over the next two years to build a cold storage facility, he said.

TUF reported dollar-based revenue of $2.07 billion in 2008, with U.S. sales making up half, including revenue from three wholly owned U.S. firms and exports from Thai plants. It also exports to Japan, the Middle East, Africa, Russia and Europe.

At 0833 GMT, Thai Union Frozen shares were up 3.4 percent at 25.75 baht while the benchmark stock index .SETI was up 0.12 percent. ($1=34.07 Baht) (Editing by Alan Raybould)

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF

KITCHEN OF THE WORLD TAKING SHAPE
CP is making headway in Japan with its products now lining 7-Eleven shelves across the country,
Writer: Walailak Keeratipipatpong
Published: 1/08/2009 at 12:00 AM

Newspaper section: BusinessMarking another milestone of its success overseas, the Thai agricultural conglomerate Charoen Pokphand Group will make its products available at 7-Eleven stores in Japan this month, securing a foothold in the Japanese market.


Food-tasting events are held regularly at Costco in the US to attract customers. Instead of Asianethnic consumers, Americans turn out to be the biggest clients of CPF’s ready-to-eat meals. Around 80,000 cups of shrimp wonton soup are sold through Costco every day.
The latest move has brought it another step closer to its goal of becoming the "Kitchen of the World", a vision laid down by chairman Dhanin Chearavanont years ago.

Under the business deal concluded recently, ready-to-eat meals and semi-cooked products of Charoen Pokphand Foods (CPF) such as chicken teriyaki and shrimp with chili sauce will be sold at more than 12,000 outlets of 7-Eleven across Japan.

"The products are being sold under a co-brand with 7-Eleven initially but we'll try to present our own CP brand later on," said Prasit Chalongchaichan, a CPF senior vice-president.

He said that generally Japanese consumers had a preference toward local brands such as Ajinomoto and Nichirei and it could take some time for them to accept a new brand, especially a foreign one.

Apart from targeting an extensive network of convenience stores such as 7- Eleven, CP is eyeing other retailers whose operations do not compete directly with the top convenience-store chain. Smaller retailers including CircleK, or Ministop convenience stores with about 2,000 to 3,000 outlets are being considered.

Exporting semi-cooked food to the Japanese retail market is a great success for CP Group as Japan is considered to be among the toughest markets to penetrate when it comes to food items.

CPF, the SET-listed food flagship of the conglomerate, has been working vigorously to establish the CP brand in global markets in order to increase product value and remodel its business from raw-material trading to food processing.

The company's president and chief executive, Adirek Sripratak, favours the business model of ConAgra, one of the world's largest packaged-food companies, based in Nebraska.

The brand-building efforts have paid off in Hong Kong and Singapore, according to Mr Prasit, who said nearly all retail stores in Hong Kong now have CP-branded products while markets in Singapore have shown impressive development.

Apart from regional exports, the CP Group is also shipping to other markets such as the United States and the European Union.

In the US, the company has business ties with Costco, a leading membership warehouse club chain to which it supplies a range of food products to stores in and outside America.

"We sell approximately 80,000 cups of shrimp wonton soup to Costco every day. Asian dishes are in high demand, a trend that encourages us to add new items such as egg noodles," Mr Prasit said.
"At first, we targeted Asian consumers in the United States when we first launched the products in Costco stores in San Francisco and Los Angeles. After a while, we learned to our surprise that our biggest clients are Americans."

He added that Costco has even placed orders for CP products for its UK chain and new stores in Australia. The business with the retailer is a good passport for CPF to gain access to other retail chains in the US.

According to Mr Prasit, talks with Wal-Mart are also way.

CP-branded food has already gained a strong foothold in Europe, Britain, France and Belgium. Significant development was seen after traders from North Ireland's Keepack Inc, the operator of Big Al store chain, visited the Thai operation last week.

For two years, Keepack has bought about 1,500 tonnes of products in bulk from CPF and repacked them for local markets. It now prefers ready-to-eat packs instead and shrimp wonton soup is at the top of the list, he said.

These new markets are expected to help raise export revenues from branded food products in foreign markets to between 15% and 20% of the value of CPF poultry meat exports this year or about 20 billion baht, an 8% increase from the same period last year.

Last year, the company projected export revenues from CP-branded products at about 2.7 billion baht.

Exporting food is not as easy as it seems, says Mr Prasit, who cited the example of the United States, which allows free shipments of shrimp and fish-related products into its market.

However, there are a host of restrictions on shipments of chicken-related food products as the United States itself is also a leading chicken producer and exporter.

European countries buy food with any meat except pork as they are still concerned about the foot-and-mouth disease.

Since the disease has been under control for years, he suggested the Livestock Development Department to invite a competent authority from the EU to inspect how advanced and safe Thai pork products are.

Relate Search: Charoen Pokphand Group, 7-Eleven

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2

CPF aims for B8bn profit in 2009 after record Q2 result
Writer: CHAROEN KITTIKANYA
Published: 8/08/2009 at 12:00 AM
Newspaper section: BusinessCharoen Pokphand Foods (CPF) is aiming for a net profit of about 8 billion baht this year after generating a record net profit in the second quarter.

"We are upbeat about maintaining the profitability momentum in the third and fourth quarters that we achieved in the first and second quarters," said president and CEO Adirek Sripratak.

"The prospects for food and ready-to-eat products under the CP brand is promising, our overseas businesses are growing, and raw material costs are much lower than a year earlier."

But the company now expects sales to grow this year by about 5%, down from an estimate of 10%, as the downturn has hurt consumer demand, he said.

CPF yesterday reported its second-quarter net profit had more than tripled, pushed up by growth in overseas business, better results for its aquaculture business in Thailand due to lower material costs, and increased sales of ready-to-eat products under the CP brand to markets worldwide.

The company earned a net profit of 3.194 billion baht, a year-on-year surge of 224% from 984.78 million and up from 770.5 million in the first quarter.

The result beat an average forecast of 2.6 billion baht from brokerage analysts.

Sales for the quarter increased nearly 4% to 40.6 billion baht while production costs fell 3.4% to 32.7 billion.The company's six-month net profit rose to nearly 4 billion baht on sales of 75.4 billion baht.

"Strong operating results reflect the company's strategy to move toward the food business and expanding overseas operations in high-potential countries together with improving production efficiency in Thailand operations," said Mr Adirek.

Currently, CPF's business is divided into three main lines - feed, farm and food businesses.

CPF aims to increase its revenue proportion from its food business from 20% of total sales revenue to at least 30% in the next five years, which would help stabilise CPF's net profit, he said.

The company's overseas operations performed very well over the first half of the year in all countries, including India, Malaysia and Turkey, he said.

CPF has plants and operations in eight countries and is acquiring feed companies and chicken processing businesses that will make Taiwan the ninth. The company expects to realise equity gains from an affiliate in Taiwan from the third quarter onwards.

For the first six months of 2009, overseas operations contributed 17% of CPF's total sales revenue, with exports providing 15% and the local market 68%.

"For the remaining months, what we are concerned about most is political instability," said Mr Adirek. "Political conflict might not have a direct impact on our business but would deliver a negative effect on foreign investment and confidence, particularly for tourists, which would hurt the overall economy."

CPF has agreed an interim dividend for the first six months of 0.23 baht per share, up 188% from a year earlier.

CPF shares rose yesterday by 10 satang to 5.55 baht, in trade worth 509.18 million baht.

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep

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ELECTRONICS

Hana resumes investment after impressive Q2 results
Writer: NAREERAT WIRIYAPONG
Published: 17/08/2009 at 12:00 AM
Newspaper section: Business
Hana Microelectronics Plc, the country's biggest semiconductor packager, has started investing again and taking on staff to meet rising orders after posting better-than-expected financial results in the second quarter.

About 350 million to 500 million baht will be spent on new production equipment later this year, mainly in the integrated circuit (IC) division. Hana is also looking to hire 600 new staff, said chief financial officer Terry Weir.

"Hana will invest and hire labour to build the products according to customer demand. Therefore, as the recovery takes place and new products are ordered by our customers, we will have to increase investment to be able to meet that demand in the second half of the year," he said.

The SET-listed electronic parts maker currently employs about 8,000 people and is running at about 80% of capacity.

Customer inventory replenishment and partial economic recovery enabled Hana to perform better in the second quarter than in the first three months, and to beat its own expectations for the first half, said Mr Weir.

In the second quarter, Hana's net profit of 504 million baht was down only 7.6% year-on-year and up 151% from 201 million baht in the first quarter.

First-half net profit was 705.44 million baht (0.86 baht a share), down 29% from 993.55 million (1.20 baht a share) a year earlier.

Second-quarter sales revenue dropped 18% year-on-year to 3.22 billion baht. But sales were up 22% from the first quarter, with IC sales up 46% while microelectronics rose 16%, Hana said in a filing to the Stock Exchange of Thailand.

"The first half of 2009 was much better than was expected at the beginning of the year, thanks to customer inventory replenishment and partial economic recovery," said Mr Weir. "The large extent of demand recovery can be seen in second-quarter results. [But] continuing strength of customer demand remains a challenge for the rest of the year."

Analysts were upbeat about Hana's results.

"Hana's stellar earnings of 504 million baht in the second quarter, an increase of 151% from the first quarter, beat our expectation by 36.3% and the consensus by 34.3%," KGI Securities (Thailand) said in a report. "A higher-than-expected gross margin was the reason for the surprise."

Sales also showed a significant recovery from rock bottom in the first quarter. The company's balance sheet was solid, being debt-free and with cash-on-hand of about 3.7 billion baht, KGI said.

Shares of Hana closed on Friday on the SET at 18.50 baht, up 40 satang, in trade worth 6.8 million b
---------------------------------------------------------------

Minister Issara Somchai said on Monday.

CPF eyes B10bn sales from CP brand abroad
17/08/2009 : HONG KONG : Thailand's leading food producer and exporter, Charoen Pokphand Foods Plc (CPF), has stepped up a gear to promote CP-branded products abroad

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PS eyes B100bn sales by 2017 Writer: NANCHANOK WONGSAMUTH
Published: 18/08/2009 at 12:00 AM
Newspaper section: Business
Preuksa Real Estate Plc (PS), Thailand's second largest residential developer, is aiming for annual sales of 100 billion baht by 2017, said chief financial officer Somboon Wasinchutchawal.

The company forecasts sales this year of 17 billion baht, up from 13 billion baht last year. The company expects its new markets of India and Vietnam to each contribute one billion baht.

PS estimates its growth, and that of other large property operators, to be at least 25-30% per year. The industry is set to grow only 5% this year but the slowdown is expected to hit small operators hardest.

The company focuses on low-rise housing such as townhouses, detached houses and medium-rise condominiums. To meet its sales, PS aims to focus on other provinces such as Chon Buri and Phuket and on building abroad.

PS is currently planning to start investing in China, where it expects to begin operating next year. The company's investment in China will focus on medium-rise condominiums or townhouses in second-tier cities such as Tianjin, said Mr Somboon.

"Land in China is very expensive and they don't give much permission to develop low-rise housing, but the demand for housing in China is high due to the large population and low number of developers," said Mr Somboon.

An investment budget of 20 billion baht is projected for the next one or two years, he said. The company has no need to increase its capital, since it has enough operating cashflow for long-term investment.

PS plans to launch 23 new projects this year. The company has spent 3.8 billion baht on land for 13 projects and expects to spend 2 billion on land for the other projects..

The company's first-half revenue was 7.44 billion baht, up 34.9% year-on-year. Townhouses contributed 1.09 billion baht, detached houses 256.7 million and condominiums 558.8 million.

Second-quarter revenue was 3.66 billion baht, up 11.4% year-on-year.

Net profit for the first half of the year was 1.33 billion baht, up 41.3% year-on-year. The second quarter recorded 639.4 million baht, up 2.4% year-on-year.

PS shares closed yesterday on the Stock Exchange of Thailand at 9.9 baht, down 60 satang in trade worth 19.967 million baht.

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Mint trims 2009 growth target Writer: CHADAMAS CHINMANEEVONG
Published: 18/08/2009 at 12:00 AM
Newspaper section: Business
Minor International Plc (Mint) has cut its 2009 revenue growth target to 8-9% from 10% as the downturn and local political instability will continue to hurt its performance in the second half.

Although some negative factors such as the global slowdown are expected to improve in the rest of the year, Mint expects Thai tourism to continue to be sluggish until a modest pick-up near the year-end if there are no new political problems. This should make its 2009 performance the lowest in a decade.

Mint's CFO Pratana Monomaiphiboon said the food business will be its key revenue driver this year, while hotels will continue to weaken in the third quarter due to the low season. Net profit will drop by 10-20% for the year.

This year, the food business will contribute 55% of total revenue, up from 50% last year.

"Politics is still a major problem affecting Thai tourism. The airport closure late last year is still in the memory of tourists and it will take time to restore confidence. If political problems re-emerge, tourism will again be damaged," she said.

In the second quarter, Mint reported a net profit of 230 million baht on revenue of 3.72 billion, compared with a net profit of 351 million on revenue of 3.8 billion in the same period last year.

The company's same-store food sales dropped 3%, compared to a 3% rise in the same period the year before. The average hotel occupancy rate was 46%, down from 64%, but the average daily rate (ADR) increased by 1.7% to 5,287 baht per room per night.

For the six-month period, the company posted a net profit of 631 million baht on revenue of 8.03 billion, compared with a net profit of 1.1 billion on revenue of 8.2 billion in the same period last year.

The EBITDA margin of the hotel operation dropped noticeably to 27% from 40% in the first half of last year but the figure for the food business rose slightly to 15%. This was because hotel incomes decreased by 26% to 2.5 billion baht, while food incomes increased by 23% to 5.05 billion.

Mint is on track to expand in both its hotel and food businesses with a total budget of 4.2 billion baht. It plans to open more than 40 food outlets over the rest of this year, up from its current 1,084. And it is planning to open more than 90 food outlets in 2010.

For its hotel business, it has three projects under construction: the 82-room Anantara Baa Atoll Hotel, the St Regis Hotel & Residence, and the Four Seasons Chiang Mai Extension. It has also secured 20 hotel management agreements.

Kasem Prunratanamala of CIMB group said Mint results were 30% below expectation due to weak margins from its hotel and food businesses.

Hotel gross margins shrank to 38% in the second quarter from 54% in the first quarter. Margins averaged 48% in the first half of 2009, compared with 63% in the same period last year. Food revenue was up 14.8% year-on-year, but shrank 8.1% quarter-on-quarter, partly due to the weak economy and a lack of aggressive promotions, he added.

Mint shares closed yesterday on the Stock Exchange of Thailand at 9 baht, down 5
---------------------------------------------------------------

ENERGY

TTA diversifies into coal
Writer: NAREERAT WIRIYAPONG
Published: 18/08/2009 at 12:00 AM
Newspaper section: Business
SET-listed Thoresen Thai Agencies Plc yesterday announced the acquisition of a coal-mining venture in the Philippines, its second deal within a month under a business strategy aimed at offsetting shrinking shipping revenue.

TTA yesterday informed the Stock Exchange of Thailand that it has acquired 21.18% of Merton Group (Cyprus) Ltd, the sole international partner in the Philippines-based SKI Energy Resources Inc (SERI) for 165.65 million baht. Funding came from working capital.

Established in 2007, the Merton Group aims to capitalise growing world demand for energy, particularly in fast-growing Asian economies such as China and India.

"TTA's primary interests in this investment are to secure a share in a coal production venture and extend our capabilities in coal transport and logistics, which are part of our business diversification strategy," said a TTA statement.

TTA on July 23 spent 374.4 million baht in its first non-shipping acquisition to buy EMC Gestion (EMCG), which is the sole owner of Baconco Co in Vietnam.

Baconco has a licence from the Baria-Vung Tau Industrial Zones Management Authority to produce and market synthetic chemical fertilisers and distribute agricultural products.

The announcement came as the dry-bulk carrier posted a 82.7% fall in net profit year-on-year to 352.6 million baht in the quarter to June, the third quarter of TTA's fiscal year, as revenue sank 45% to 4.9 billion baht from 8.9 billion.

Operating profit was 688 million baht in the quarter while cash equivalents fell by 151.7 million baht, said managing director M.L. Chandchutha Chandratat.

"Amidst the competitive economic environment, TTA remains profitable and generates positive operating cash flows. We have seen stabilisation and even some improvements in our core businesses," he said.

TTA's nine-month earning lost 79.9% to 1.34 billion from 6.72 billion baht a year earlier when revenue fell from 24.47 billion baht to 15.64 billion.

The company's fleet cargo volume for the nine months was 9.206 million revenue tonnes, down 53.5% year-on-year.

The Baltic Dry Index (BDI), said M.L. Chandchutha, had slightly rebounded over the last six months to 3,757 in June, an increase of 24% from October 2008.

"But we do not expect rates to continue with the current uptrend, because China is unlikely to continue with its heavy imports of iron ore and coal," he said.

A full economic recovery still looks remote. The aggressive consumer spending that previously fuelled growth remains in the doldrums. TTA believe these factors will put a cap on the BDI.

"We are still concerned about the shipping market over the course of 2009 and 2010 due to the structural overcapacity and the sustained weak global economic conditions,"he said.

But TTA has continued to search for second-hand vessels that will provide investment returns that at least meet the company's hurdle rate.

TTA's ability to maintain profitability during the downturn reflects its diversified operations and well-timed business investment strategies, he said.

Kim Eng Securities, meanwhile, said TTA's second quarter and nine-month results were in line with forecasts but warned of challenges in the current quarter with weakening BDI and arriving new supplies of ships.

BDI, the most closely watch dry bulk shipping rates for commodities, stood at 2,756 yesterday.

Shares of TTA closed at 22.7 baht, down 1.20 baht, in trade worth 1.41 billion baht
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Economics

BGH expects more foreign customers in H2
Writer: VICHAYA PITSUWAN Published: 17/08/2009 at 12:00 AM
Newspaper section: Business
Bangkok Dusit Medical Services (BGH), the country's largest private hospital operator, expects to see more foreign customers in the second half of the year.


BGH’s three leading markets are the Middle East, Japan and Europe.
Foreign patients, who contribute 40% of the group's revenue and 33% of its customers, were down in both fees and volume in the first half of the year, said John Lee Koh-Shun, the group's executive vice-president.

"They don't travel here, mainly because of economic problems in their own countries. Confidence in Thailand's security has also been questioned by many customers while the H1N1 pandemic is also a factor reducing air travel," said Mr Lee.

The group operates 19 private hospitals - two in Cambodia and 17 in Thailand, including branches in tourist areas such as Phuket and Samui.

Its three leading markets are the Middle East, Japan and Europe, whose residents come to Thailand for cheap and high-quality medical care.

"We have seen a rapid increase in customers from China and Australia, due to their increase in income and trade. But numbers from the United States have dropped," he said.


Lee: Cost efficiency can improve more.
He forecasts a better second half as the fourth quarter is generally the peak season for European customers, who put off visits last year due to local political instability.

BGH recorded revenue of 21.83 billion baht last year, more than 10% growth. This year, it hopes for only 5% growth, with profit rising 6-7%.

Thailand has a competitive edge in medical care because of its good service, technical excellence and reasonable prices, as well as its reputation as a shopping and tourist destination, he said.

"We still have to improve cost efficiency as well as quality. This is not the role of private hospitals alone but requires the support of the tourism industry and the government. This co-operation is lacking in Thailand. This is where we are far behind Singapore," Mr Lee said.

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Sansiri lifts sales target after encouraging half Published: 15/08/2009 at 12:00 AM
Newspaper section: Business
The listed developer Sansiri Plc (SIRI) reported 386.78 million baht in consolidated net profit in the second quarter, up 116.5% year-on-year from 178.65 million, on revenue up 8% to 3.65 billion.

In the first half, the company earned 505.77 million baht, compared with a loss of 75 million the year before, while revenue rose 18.9% to 6.6 billion.

As of Aug 10 the company had achieved 10 billion baht in sales - 59% of an earlier 2009 sales target of 17 billion - and has therefore raised its 2009 sales projection to 20 billion baht with the launch of 19 projects worth 23 billion baht, said president Srettha Thavisin.

Net profit for the whole year is forecast at 1.4 billion baht, about 50% higher than in 2008.

The developer SC Assets Corporation Plc (SC) recorded consolidated net profit for the second quarter of 188.61 million baht, up 45.65% year-on-year from 129.49 million, on revenue up 6.4% to 1.019 billion baht.

For the first half, consolidated net profit was 282 million baht, up 0.82% year-on-year from 279.7 million baht, on total revenue of 1.713 billion baht, down 10.3%.

SC Assets remains focused on low-rise development with a plan to launch six projects, or new phases at existing projects, worth about 4 billion baht in the second half, said chairwoman Yingluck Shinawatra. Over the whole year, SC is launching eight projects worth about 4.7 billion baht.

The company has a 2009 budget of one billion baht for acquiring land and has already spent 650 million on four plots. SC has about 200 rai worth more than 1.5 million baht for development.

Areeya Property Plc (A) reported second-quarter net profit of 58.04 million baht, up 15.36% year-on-year from 50.31 million, as revenue rose 202% to 669.25 million. In the first half, it recorded a profit of 146.75 million baht, up from 10.69 million, on revenue up 367.87% to 1.36 billion baht.

The improved performance came from the delivery of condominium units at 'a space' Asoke and more townhouses, said the company.

Eastern Star Real Estate Plc (ESTAR) reported a consolidated net loss of 14.19 million baht in the second quarter, down from a profit of 36.04 million in the same period last year, on revenue down 62.3% to 116.11 million.

SIRI shares closed yesterday on the Stock Exchange of Thailand at 3.36 baht, up 22 satang, in trade worth 94.94 million baht. SC closed at 8.85 baht, up 20 satang, in trade worth 38.87 million baht. Areeya closed at 3.60 baht, up two satang, in trade worth 127,000 baht. ESTAR shares closed unchanged at 0.36 baht, in trade worth 388,000 baht.

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HomePro gains from renovation demand
Writer: PORNNALAT PRACHYAKORN Published: 15/08/2009 at 12:00 AM
Newspaper section: Business
Home Product Center Plc, the SET-listed operator of HomePro hardware stores, says the home renovation market remains strong and should help it achieve 10% sales growth target this year in an otherwise vulnerable home-related products market.President Khunawut Thumpomkul said that since the economic downturn had reduced demand for new homes, the company had seen more customers in the home-improvement market, which now makes up 70% of its sales, up from 40% previously.

"Our shift toward the home renovation market has proved to be a successful strategy," Mr Khunawut said yesterday. "There's still a strong demand for home-product replacements such as changing carpets, curtains and kitchen fittings."

He said HomePro had about 200,000 members, 35% of whom are active customers.

Same-store sales at HomePro in the second quarter rose 7.5% from the same period last year but it saw a contraction in tourist destinations due to the impact of political unrest and the H1N1 flu on travel.

"Our sales in outlets located in beach destinations such as Phuket and Pattaya declined by 5% on average," he said. "But growth remains positive since sales in other areas, especially in Bangkok, have not been affected much."

Political and economic concerns this year have prompted HomePro to delay opening two outlets in Nakhon Pathom and Pattaya. It currently has 35 outlets nationwide.

Mr Khunawut said the home products market as well as the tourism industry should pick up in the second half no more negative factors emerge.

The company earlier forecast that Thailand's home-related products market worth 130 billion baht would continue to see declining growth to 5% this year compared with 10-15% during normal times.

HomePro posted 27.68% net profit growth to 493.93 million baht in the first half, on sales totalling 9.681 billion baht, up 11.7% year-on-year. It targets 10% full-year sales growth from 18.54 billion baht last year.

The company projects 1.6 billion baht in sales
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Big C puts off new outlets
Writer: PITSINEE JITPLEECHEEP
Published: 15/08/2009 at 12:00 AM
Newspaper section: Business
After slowing its expansion plans for this year, Big C Supercenter Plc will invest 1.5 billion baht next year to open between three and five outlets.

Big C will focus on the most profitable locations, where outlets can generate profit within a year or 18 months, said chief financial officer and vice-president Rumpa Kumhomreun.

The company has spent 578 million baht this year to open only one Big C outlet, in Si Sa Ket province in April. Last year, it invested 5.5 billion baht in new stores. The investment slowdown reflects a lack of confidence in the country's economy. Big C currently has 67 outlets.

Big C's first-half sales grew 3.9% year-on-year to 34.44 billion baht, although net profit fell 3.4% to 1.31 billion baht.

Sales growth slowed due to the closure of Suvarnabhumi Airport, with the sharp fall in arrivals hitting Big C outlets in tourist destinations. The country's economic downturn has also made customers limit their budgets - especially on non-food items, which generate higher profits than food.

Big C has also spent 250 million baht on upgrading its computer systems. Merchandising software will be installed in all stores by October.

The company expects sales this year to grow by 5%, compared with 9% last year.

In another development, CP All Plc, the operator of 7-Eleven convenience stores, reported first-half net profit up 27.3% year-on-year to 2.48 billion baht, on revenue down 14.1% to 55.84 billion.

The company's second-quarter consolidated net profit was up 42.8% year-on-year to 1.23 billion baht, while revenue slipped 11.1% to 28.57 billion.

Poor performance by retail superstores in China caused the second-quarter slide in revenue, said CP All CEO Korsak Chairasmisak.

Revenues from convenience stores in Thailand grew 16.1% to 28.31 billion baht, due to a wider selection of chilled and frozen meals to meet high demand. Food now makes up 70% of the inventory in 7-Eleven outlets.

Shares of Big C closed on the Stock Exchange of Thailand at 46.50 baht, up 75 satang, in trade worth 8.27 million baht. CP All shares closed at 17.90 baht, up 20 satang, in trade worth
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Asia Green to sell more coal Writer: NAREERAT WIRIYAPONG
Published: 14/08/2009 at 12:00 AM
Newspaper section: Business
Asia Green Energy Plc (AGE) aims to increase its coal sales by 20% to 1 million tonnes this year, given the global economic rebound and a price gap that could encourage industrial operators to switch from fuel oil to coal for energy, said assistant managing director Somyos Thitisuriyarux.

But the SET-listed coal importer and distributor said yesterday that in the worst case its turnover could slip by 10% this year from 2.35 billion baht in 2008, with net profit sliding in line with coal prices down from 123 million baht last year.

In the first six months of 2009, AGE's revenue increased 15% year-on-year to one billion baht as coal from Indonesian mines rose 14.6% by volume to 414,072 tonnes. But net profit sank from 68 million baht to 39 million as the margin shrank 8% year-on-year.

Coal prices have stabilised between US$60 and $70 per tonne since the past quarter, or 2,600 baht as quoted locally, while crude has risen steadily to $70, said Mr Somyos. With fuel oil now at 13-14 baht a litre, it is 40% more expensive than coal, he said.

"Last year, 7% of 30,000 boilers at industrial plants nationwide were modified from fuel oil to coal to save about 30%. As the gap has widened, we expect more and more industrialists to switch to coal this year," he said.

AGE's customers are up to 520 from 500 at the end of last year, with the energy sector climbing to contribute 24% of sales volume, while food provides 29%, textiles 23% and paper 14%.

"We have remained on track to boost sales from 840,000 tonnes in 2008 to 1 million tonnes this year. Many sectors, including energy, have placed more orders but several were made for restocking," said Mr Somyos.

Although the global economic picture in the second half is unclear, without unexpected incidents the economy could steadily improve both locally and globally.

But AGE's sales revenue for 2009 will not be as good as projected earlier, when 20% growth was considered possible, he said. Coal prices are expected to stay between 2,500 and 2,800 baht this year, compared with 2,800 to 3,200 baht last year, due to the sluggish world economy in the first half.

"After getting the financial results of the first half, we are now anticipating that revenue could vary by 10% plus or minus from the 2008 figure," said Mr Somyos.

Next month, AGE will start operating its fourth warehouse in Si Racha in Chon Buri, with storage capacity of 10,000 tonnes of coal. The new facility will contribute to revenue from the fourth quarter onward. Currently, 14% of its customers are in the eastern region, he said.

Shares of AGE closed yesterday at 6.30 baht, unchanged, in trade worth
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STOCKS & INVESTING
Fund managers see SET at 800 in 2010
13/08/2009 : The stock market could rise by another 25% and test 800 points by the end of next year due to foreign fund flows and a sustained recovery in the global economy, local fund managers say.

NA DANN..................

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AUTOMOBILES

Auto-parts stocks seen in fast lane Writer: NAREERAT WIRIYAPONG
Published: 13/08/2009 at 12:00 AM
Newspaper section: Business
Brighter prospects are expected for automotive stocks in the latter half, experts say, citing that the industry bottomed out in the second quarter and orders have started flowing in to revive the sector's performance in the current quarter.

Yeap Swee Chuan, chairman of SET-listed Aapico Hitech Plc (AH), said the company's financial results improved in the quarter to June from those in the first quarter, keeping the first-half results in line with its projection.

AH, which produces a variety of auto parts including chassis and door frames for leading automakers such as Toyota, Isuzu, and Nissan, is scheduled to report second-quarter results tomorrow.

The company has reaffirmed its forecast that revenue would fall 20-25% this year from 2008 on estimates that overall car sales will decrease from 1.4 million units to 1.1 million, he said.

"Vehicle sales are improving month-on-month, prompting us to believe that AH and the automotive parts industry in general would perform better in the second half," noted Mr Yeap.

He added that AH in October would begin supplying parts to Ford Motor's new compact passenger vehicle B-car production in Rayong. Therefore, more revenue is expected in the final quarter.

AH's two new factories in Rayong have been operated for the manufacturing of plastic fuel tanks, press parts and door sets for Ford's new model, of which a few thousand units are expected to roll out this year from the maximum capacity of 100,000 units a year.

Analysts also viewed auto-parts suppliers would find bottom in the second half with higher capacity utilisation expected for the passenger car segment in the current quarter.

"Better prospects should be seen in the second half. Vehicle production, which fell 40% year-on-year in the first half, should be slightly better with an expected 30% annualised drop in the latter half," said Reweenuch Piyakriengkai, an analyst at KGI Securities.

Earnings of SET-listed Somboon Advance Technology Plc (SAT) should weaken further in the second half but better results are expected in the latter half with more orders for re-stocking and from Kubota, according to KGI.

Analysts said SAT aimed to gain 220 million baht this year from Kubota, the agricultural vehicle maker. Of the amount, 100 million would be realised in the fourth quarter. The company's net profit was worse than expected, falling by 86% year-on-year to 25 million baht in the first quarter with sales sliding 33% to 936 million baht.

SAT capacity utilisation rate slipped from 50% in the first quarter to 48% in the past quarter, typically the weak season for car sales with long holidays.

KGI also predicts that a sharp V-shaped recovery is unlikely for the auto sector.

Kiatnakin Securities has lifted its recommended price of AH from 2.64 baht to 4.28 baht on the expected rebound of the automotive industry in the second half. The bankruptcy of General Motors would increase the sales of Japanese automakers, the major buyers of listed automotive parts companies. Therefore, local parts stocks would benefit.

Sales of AH closed on Tuesday on the Stock Exchange of Thailand at 5.70 baht, up 45 satang, while SAT rose 15 satang to 7.70 baht.

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.

PTTEP aims for 25% production hike
13/08/2009 : PTT Exploration and Production Plc, Thailand's only publicly traded petroleum explorer, expects to boost its worldwide production
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[schmithi]

Hmmm, Aktiemempfehlungen von ASP. Die Thai Airways steht auf der thailändischen Empfehlungsliste als "BUY"-Titel, bei den Farangs auf "Verkaufen". Ich halt mich bei sowas besser fern.


26-Aug-09 THAI, ผ่านพ้นช่วงเลวร้ายไปแล้ว ปรับเพิ่มคำแนะนำ เป็น “ซื้อ” ซื้อ(Buy) [News Talk / th]
26-Aug-09 00:00:00
THAI, ขนส่งและโลจิสติกส์ ผ่านพ้นช่วงเลวร้ายไปแล้ว ปรับเพิ่มคำแนะนำ เป็น “ซื้อ” ซื้อ(Buy)
[News Talk / th]

เริ่มเห็นการฟื้นตัวอย่างชัดเจนตั้งแต่เดือน ส.ค. นี้แล้ว
งวด 3Q52 มีโอกาสพลิกฟื้นเป็นกำไร และจะฟื้นตัวชัดเจนในงวด 4Q52
ส่งสัญญาณการฟื้นตัวอย่างต่อเนื่อง ปรับคำแนะนำเป็น “ซื้อ”


25-Aug-09 THAI, 2Q09 suffers massive loss from politics and H1N1. Await recovery in 4Q09 Sell [News Talk / en]
25-Aug-09 00:00:00
THAI, Transportation & Logistics 2Q09 suffers massive loss from politics and H1N1. Await recovery in 4Q09 Sell
[News Talk / en]

► 2Q09 suffers a loss of B5.4bn due to emergency decree and H1N1
► 3Q09 to reach only breakeven point, awaiting recovery in 4Q09. Reiterate SELL

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA

Amata sees brighter outlook this half

Writer: VICHAYA PITSUWAN
Published: 28/08/2009 at 12:00 AM
Newspaper section: BusinessThailand's largest industrial estate developer, Amata Corporation Plc, expects stronger performance in the second half due to the improving global economy and more stable local politics.

The listed developer forecasts industrial land sales of 300 to 400 rai in the second half, after selling only 50 rai, a 74% year-on-year drop, in the first half.

"We have a number of potential customers on hand that have been negotiating for a long time. I am confident that these investors will finally conclude their purchasing deals with us within this latter half of the year," said director Viboon Kromadit.

"Investment decisions have been delayed for too long and improving economic indicators should bring interest."Amata's forecast assumes there will be no further political unrest to dampen investor sentiment.

The company is in discussions with investors from the agricultural, automotive and chemical industries, said Mr Viboon.

Land sales account for 38% of the group's income with the rest coming from utilities supply and rental charges.

Amata hopes to attract Chinese investors and benefit from a Chinese venture fund that will invest in Thailand.

Chinese investors are forming a 20- billion-yuan (100-billion-baht) fund to finance investments in Thailand. The fund, which will be finalised by year-end, will facilitate more Chinese companies building production plants locally.

Chinese firms that relocate to Thailand will be supported by the government policy to promote foreign investment. China's poor reputation for product quality has led many firms to relocate to countries such as Thailand. Rising labour costs in China is also seeing companies shift their operations elsewhere, he said.

Mr Viboon said he was confident Amata's strong relationship with Chinese investors will allow it to gain from the venture fund more than other industrial estate developers.

AMATA shares closed yesterday on the SET at 6.70 baht, down 10 satang, in trade worth 109.69 million baht.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 SANSIRI

Sansiri to double registered capital
Writer: PORNNALAT PRACHYAKORN
Published: 25/09/2009 at 12:00 AM

Newspaper section: BusinessThe SET-listed developer Sansiri Plc plans to double its registered capital to 12.612 billion baht this year by issuing new shares, says president Srettha Thavisin.

The move will support its expansion plans and raise its appeal among foreign investors, he said.

The issue of 1.473 billion shares will be offered on a private placement (PP) basis with a par value of 4.28 baht apiece.

The company's paid-up capital will increase to 12.612 billion baht from 6.307 billion. Sansiri will also issue 736 million free warrants for existing shareholders leading to a rise in paid-up capital to 15.766 billion baht, he said.

The company will propose the scheme for shareholders' approval on Nov 6 and Mr Srettha expects Sansiri to raise the funds by year-end after the approval.

After the capital increase, the company's debt-to-equity ratio will fall to 0.8 times from 1.2 times. The company expects about 70% of the PP shares will be sold to foreign institutional investors.

The funds raised will be used to support business expansion.

Sansiri plans investments of 17.5 billion baht next year in land plots and project development. The company targets buying about 30 land plots worth 8.5 billion baht.

Sansiri plans to introduce 18 projects worth a total of 22 billion baht in 2010 - 10 condominium projects, six detached-house estates and two townhouse developments.

The budget for overseas expansion for next year has yet to be finalised. After a recent expansion to London this year, Sansiri hopes to enter Vietnam and New York next year.

In addition, Sansiri's market capitalisation is expected to rise to $500 million from $220 million after the capital raising with liquidity of about $1-2 million per day. Its market capitalisation was 6.87 billion baht as of yesterday.

"This should help increase our market cap to make it attractively big enough to lure foreign investors," he said.

"The Thai property market is being driven by banks' lending, which is expected to be tightened for the next couple of years, putting a limit for small and mid-sized developers. The capital market is a good financial source and raising capital will help to put us in a stronger position in negotiating with banks."

Business expansion is also expected to help lift the company's credit level and reduce financial costs.

The company next week will hold a solo, non-deal roadshow arranged by the Union Bank of Switzerland to meet with more than 100 foreign funds in Europe, the US, Singapore and Hong Kong. Sansiri will present its business plan and outlook on Thailand's property market.

Sansiri currently has a pre-sales backlog of nearly 18 billion baht, which should be realised in the next three years.

Sansiri shares (SIRI) closed yesterday on the Stock Exchange of Thailand at 4.80 baht, up 14 satang, in trade worth 89.12 million baht.

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 SANSIRI
post 40 AYUD, SMT, stanly


beginnt hier vielleicht nach jahren endlich eine story, zeit waers ja nicht nur bei dennen ,sondern auch bei der TIC

INSURANCE

Ayudhya plans acquisitionsPublished: 15/10/2009 at 12:00 AM
Newspaper section: Business

SET-listed Ayudhya Insurance Plc, a Bank of Ayudhya affiliate, is considering an aggressive acquisitions strategy to become a top-10 firm by the end of 2010.


D’Arcy: Aiming to be in market’s top 10
The Office of the Insurance Commission has set a 2011 deadline for local insurers to meet the regulator's new risk-based capital requirements. These require insurers to maintain capital funds proportionate to their assets, debts, liabilities and risks, to protect customers and the general public.

This is likely to make many weaker insurers with low capital reserves consider the mergers and acquisitions market. Snapping up such firms would help Ayudhya increase its market share, said president Rowan D'Arcy.

"To become number 10 by 2010 would be great. We are currently at about number 23 and expect to move up the ladder a little this year as we are growing faster than the market at present," he said

"Being in a strong position, we would naturally be interested in exploring these (M&A) avenues."

Ayudhya has a 3-billion-baht war chest comprising retained earnings and locked capital funds - share premium reserves that cannot be distributed to shareholders, said Mr D'Arcy. "As the company has a strong capital base and a proven record in management, it is natural to consider investing further in its own core business," he said.

If the company cannot find firms to acquire by the end of 2011 it will continue to drive growth organically, he said. Potential acquisitions must be correctly priced and offer further distribution possibilities, particularly for bancassurance and telemarketing, he said.

Despite keeping its relatively low profile Ayudhaya Insurance has grown steadily in the last five or six years, both in written premiums and its bottom line.

Last year it reported total written premiums of 1.68 billion baht, a rise of about 7.3% from a year earlier. However, net profit slumped by 14% to 357 million baht in the same period, due to weaker investment incomes.

For the first six months of the year, the company reported written premiums of 885.73 million baht, a rise of 9.07% from the same period last year, while net profit dropped to 128.97 million baht from 175.28 million.

The company projects its written premiums this year will grow by about 10% to 1.84 billion baht despite poor economic conditions.

It expects to maintain the same growth trajectory throughout 2010 thanks partly to its balanced distribution channels and income structure.

High-risk motor insurance constitutes only 29% of the company's written premiums, while the profitable segments of fire, miscellaneous and marine make up 25%, 34% and 12% respectively.

Ayudhya's network of external insurance agents contributed 37% of sales, and bancassurance 30%, while the rest came from its brokerage and direct sales.

The insurer has implemented several measure to mitigate the impact of the global and domestic recession.

"We've instituted myriad actions ... from reducing employment costs, changing our production technology, rebranding our products and services to broaden distribution and [improving] corporate communications," he said.

"More importantly, we've made it easy for potential buyers to buy our products by focusing on simplifying the buying process and making the products the most simple and convenient."

Ayudhya Insurance is a German-Thai joint venture in which the Allianz Group holds a 16.84% stake.

-------------------------------------------------------------
SMT forecasts 25% profit gain this yearPublished: 15/10/2009 at 12:00 AM
Newspaper section: Business

Star Microelectronics (SMT), a manufacturer of microelectronic module assemblies (MMA) and integrated circuits (IC), expects net profit growth of 25% this year with total revenues of 12 billion baht.

CEO Polsak Lertputipinyo said third-quarter revenues rose more than 20% year-on-year, with growth projected to continue through mid-2010.

He said the company would increase MMA production capacity to 3 million pieces this month and to 3.5 million in November, from 2 million in September. The increase is a response to a new US law that requires all new cars to have five tyre pressure monitoring system (TPMS) units. The extra sales will help the company widen its profit margin.

At the beginning of 2010, the company's annual IC production capacity will also increase to 100 million pieces from 80 million.

Revenue growth for 2010 is expected to be 10% from this year. SMT reported first-half revenues of 4.589 billion baht with net profit of 115 million.

"Our revenue in the first half of this year dropped sharply due to the US crisis and shrinking demand. However, the recovery demand pickup in the second half will help us to keep total revenue with net profit growth of 25%," Mr Polsak said.

SMT shares closed yesterday on the SET at 5.60 baht, down 30 satang, in trade worth 41.7 million baht.

-----------------------------------------------------------------

AUTOMOBILES

Stanley sales rise on industry recovery
Published: 15/10/2009 at 12:00 AM
Newspaper section: Business

Sales of Thai Stanley Electric Plc have improved steadily in line with the gradual recovery of the automotive industry, leading to a projection of a smaller-than-expected drop for its 2009 financial year ending next March.

Executive vice-president Apichart Lee-issaranukul said a severe slump in the automotive industry as a result of the global economic downturn had caused Thai Stanley's sales to shrink by 40% year-on-year from January this year.

But since April, the decline has tapered off in line with the recovery of the automotive industry as reflected by higher local automobile sales and exports.

"The industry has shown signs of steady improvements but it will not recover right away," he said.

Thai Stanley's sales in the 2009 financial year are expected to drop 20-25% to between 6.4 billion and 6.5 billion baht from 8.3 billion in the previous year in light of strong demand in the local vehicle market and improved vehicle exports.

In the first quarter of its financial year ending on June 30 this year, the SET-listed Thai-Japanese manufacturer of automotive bulbs, lighting equipment and moulds and dies earned a net profit of 92.4 million baht, down 51% from 392.7 million in the same period the year before.

The company supplies many local automobile and motorcycle producers such as Honda, Mitsubishi, Isuzu, Toyota, Nissan, Suzuki, Ford and Mazda, Yamaha, Kawasaki and Cagiva.

As well, the local replacement market makes up a 5-10% share in Thai Stanley's total sales. Sales in the replacement market have increased significantly this year after the brand-new vehicle market has slowed. New vehicle owners prefer using authentic products while second-hand vehicle owners did not care much about the authenticity of their parts.

According to Mr Apichart, Thai Stanley has not spent much to expand its business since the outlook of the automotive industry remains uncertain this year.

"We've only invested in upgrading our machinery and equipment and de-bottlenecking related factory systems which have long been in service to prepare for the rebound of the industry," he said.

Among them was an outlay of 400-500 million baht to eradicate production defects to help bring down costs.

Earlier, Thai Stanley planned to spend 2 billion baht to expand its plant to support the operations of eco-car manufacturers.

But the plan was put on hold after the six eco-car makers approved by the Board of Investment (BoI) delayed their undertakings after the automotive industry worldwide faced a severe slump. As a BoI requirement, each project sponsor must produce at least 100,000 eco-cars per year. Given the size of the local market, exports will be compulsory.

Mr Apichart said the company was talking with all Japanese vehicle producers about the prices and specifications for the lighting products for eco-cars but not with the Indian carmaker Tata Motors.

Nissan is the first company to launch its eco-car next March but the talks with both companies have not yet been wrapped up.

The BoI has approved eco-car promotional privileges for six global manufacturers: Honda, Nissan, Suzuki, Mitsubishi, Toyota and Tata. Volkswagen had also expressed an interest. If all seven projects go ahead, 700,000 of the small, fuel-efficient cars per year would be produced after five years of operations.

Talks with Ford and Mazda for their small-car projects were also underway although Mazda would launch its subcompact Mazda 2 model next month while Ford will debut its Fiesta in the first quarter next year.

"We do not know at the moment how many contracts we will acquire from the eco-car producers. This is not a problem anyway since our factory expansion last year can accommodate the demand from eco-cars," said Mr Apichart.

Thai Stanley expanded the space of its factory in Pathum Thani by 10,000 square metres, 70% of which has been uitilised. "If the initial demand by the eco-car producers is not very high, we can install new machinery in the remaining 30% of the space," he said.

As well, the company bought 17 rai of land adjacent to the existing factory area to prepare for future expansion if the demand of the automotive industry became stronger.

He said Thai Stanley was ready to expand its plant immediately if all eco-car makers go ahead with their projects.

Shares of Thai Stanley (STANLY) closed yesterday at 108 baht, down four baht, in trade worth 14.43 million baht.

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec ,splai

ELECTRONICS

Delta buys US solar cell maker
Published: 14/11/2009 at 12:00 AM
Newspaper section: Business

SET-listed Delta Electronics (Thailand) aims to generate sales of $200-300 million from the United States market in three years after a deal to take over a Dallas-based solar cell manufacturer.

Delta's board of directors on Thursday approved the investment of US$3 million in Delta Greentech (USA) Corp, bringing its capital injection in the wholly owned US subsidiary to $6 million.

Recently established in the US, DGA has acquired a solar cell maker and is engaged in the assembly, marketing and trading of telecom power systems and other related products there.

"We will increase our investments for operation expansion in the US in the next few years to support our revenue target of $200-300 million," said Delta executive director Anusorn Muttaraid.

"This is our first merger and acquisition deal (M&A) in the US and it will be a springboard for expanding Delta's presence in other parts of the States."

Mr Anusorn said the US has been focusing more on green energy as it is under pressure to cut its use of conventional energy sources.

Other M&A negotiations are under way in the US and Europe, including in Germany. Delta is also exploring opportunities in the Middle East, especially in telecommunications, he added.

Delta's third-quarter net profit was 670 million baht, down 24% year-on-year, as revenue fell 25% from 9.17 billion baht to 6.9 billion. But turnover rose 14% from the previous quarter with global recovery and its products' high season. Nine-month profit was 1.48 billion baht, down from 2.3 billion a year earlier, on revenue of 19.33 billion baht, down 23%.

President Henry Shieh said the third-quarter results were disappointing given the company's reliance on the telecom sector and on Europe, but he expects improvement in the fourth quarter.

Business in India is also set to expand after telecom projects had been held back during the Indian election, he added.

But the telecom business outlook is not rosy for the next one to two quarters because of price erosion, he said.

Mr Anusorn said revenue for 2009 would be 10% below the original target of $1 billion. Net profit this year would definitely be lower than in 2008, he added.

"It all depends on whether consumers will buy or not given their confidence in the state of the economy," he said.

Delta shares closed yesterday on the SET at 17.80 baht, unchanged, in trade worth 13.97 million baht.

-----------------------------------------------------------

Channel 3 wins 10-year extension
Broadcaster will pay MCOT B405m
Published: 14/11/2009 at 12:00 AM
Newspaper section: Business

The listed broadcaster MCOT Plc yesterday ended a dispute with Bangkok Entertainment, the holder of the concession for television Channel 3, approving the latter's proposal to pay an additional 405 million baht to extend its concession until 2020.

MCOT board chairman Surapon Nitikraipoj said the one-off, lump-sum payment would be in addition to the concession fee of 2.002 billion baht agreed more than two decades ago.

MCOT, then a state enterprise, awarded a 30-year-concession to Bangkok Entertainment, now a subsidiary of SET-listed BEC World Plc. The three-decade period was divided into two phases of 20 and 10 years.

Mr Surapon said the figure of 405 million baht was based on a calculation of 6.5% of Bangkok Entertainment's current and projected revenue over a 10-year-period from 2005 to 2015.

Executives of Bangkok Entertainment forecast that revenue next year, the first year of the concession extension, would grow by 5%. In the second and third years it would increase by 3%, and would rise in the fourth and fifth years by 2% annually. They predict no growth in revenues after 2015 because of the liberalisation of TV industry.

Bangkok Entertainment earned 4.2 billion baht in revenue last year.

The debate over the extension had been protracted because of concerns that MCOT, as a state enterprise before it listed on the stock market, risked settling for too small a sum of money. Decisions that potentially result in losses of revenue for the government can expose directors to legal suits.

"We will not look back at how a contract revision previously damaged the state, which is a major shareholder in MCOT," Mr Surapon said yesterday. "But we are confident that now we have done well to protect the state's interest and to get back what MCOT had lost before."

The MCOT board expects Bangkok Entertainment to pay the full 405 million baht within the first quarter of this year.

An analyst said the sum would not have any significant impact on either company. "This is a matter of principle rather than money," said the analyst.

The same analyst noted, however, that the settlement would benefit BEC World since some investors had speculated the lump sum would be up to one billion baht. That restores investors' confidence.

MCOT yesterday reported net profit of 349 million baht in the third quarter of this year, up from 285 million in the same period last year. For the first nine months, net profit rose to 988 million baht from 926 million a year earlier.

Total revenue for the first nine months rose by 7% year-on-year to 3.4 billion baht. Revenues from its Channel 9 TV business, accounting for nearly two-thirds of the company's total, rose 12% year-on-year to 2.1 billion baht. It posted zero growth in radio with revenues of 600 million baht.

BEC World earned a nine-month net profit of 1.89 billion baht, down from 2.15 billion in the same period last year.

MCOT shares closed yesterday on the Stock Exchange of Thailand at 23 baht, up 50 satang, in trade worth 22.1 million baht. BEC rose 90 satang to 24 baht, in trade worth 110 million baht.

[lapamita]

PROPERTY

Supalai to launch 10 projects
Published: 14/11/2009 at 12:00 AM
Newspaper section: Business

The listed developer Supalai Plc plans to launch 10 new housing projects worth more than 10 billion baht in 2010, and at least four will be Board of Investment (BoI) Home projects, said president Prateep Tangmatitham.


This 800-unit condominium on an 8.5-rai site on Ratchayothin Road opposite SCB Park is one of two projects, worth a total of 3.9 billion baht, that Supalai is due to launch next weekend. Units will start from 1.9 million baht and be priced on average at 54,000 baht a square metre.
The four BoI projects will include townhouses and single houses in Pathum Thani, while a BoI condominium will be located on a 10-rai site on either Soi LaSalle or Sukhumvit Soi 107, where it will develop about 1,000 units worth 1 billion baht.

"The economy is not that bad," Mr Prateep said. "Interest rates are low and people remain confident in their income. The property market is improving and will be better in 2010."

Given the improved sentiment, most of the company's new launches will be in the first quarter next year. It plans to launch a condominium project in Phuket in December on a four-rai site with 600 units worth 900 million baht.

Next weekend it will launch two condominiums worth a combined 3.9 billion baht. One will be located on an 8.5-rai site on Ratchayothin Road opposite SCB Park that the company bought from SCB four months ago.

The project will comprise 800 units sized between 32 and 66 square metres and priced at 54,000 baht a square metre on average, starting at 1.9 million baht.

Another development, worth 1.5 billion baht, will be located on a 3.5-rai site near the Asok-Ratchadaphisek intersection. The project will consist of 500 units sized between 34 and 63.5 sq m and priced at 56,000 baht a sq m on average.

"We will launch these projects together to cut marketing costs by 20%," said the company's deputy managing director, Atip Bijanonda.

"We can share sales brochures and have a bigger impact on the market."

In the past two weeks, the company has introduced the two projects to its existing customers to give them the privilege of choosing a unit first as well as a discount of at least 10,000 baht on each unit.The company expects to have sales of 50% on the launch date with 20% booked by existing customers. The projects should be sold out by the end of the year, said Mr Atip.

Supalai has also approached large corporate customers near the projects. For the Ratchayothin project, it gave SCB staff a 10,000 baht discount to book a unit.

Supalai reported a nine-month net profit of 1.81 billion baht, an increase of 113% from 854 million baht in the same period last year, on sales of 6.95 billion baht, up 51%.

Third-quarter net profit rose 187% year-on-year to 587 million baht, on sales of 2.29 billion baht, up 69%

The company had a sales backlog of 2.48 billion baht to be realised in the fourth quarter, while net gearing declined from 92% in 2008 to 63% as of the end of September.

Shares of Supalai (SPALI) closed yesterday on the Stock Exchange of Thailand at 6.00 baht, up 10 satang, in trade worth 35.58 million baht.

Relate Search: Supalai Plc, Board of Investment, Prateep Tangmatitham

[lapamita]

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[lapamita]

Antwort auf Beitrag Nr.: 38.423.554 von lapamita am 20.11.09 02:56:25

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 43 TUF seafood,


COMPANY OF THE WEEK: Another Record For Thai Union Frozen Products (THAILAND, 11/13/2009)

watch this video ueber dief rima TUF

http://admin.fis.com/cm/photolib/images/download/28582_250x1…



Thai Union Frozen Products PLC (TUF) (BAK:TUF), Thailand’s leading producer and exporter of canned and frozen seafood products, announced yet another record-setting performance, with the third quarter net profit breaking the one billion baht mark, hitting 1,017.9 million baht.

The figure represented 12 per cent growth from the same period last year. The remarkably profit growth was primarily a result of a higher proportion of higher value-added products that led to sustained expansion of the company’s profit margin and strong performances at TUF’s subsidiaries. It is expected that net profit for this year should certainly set a new record, simply because net profit for the first 9 months of 2009 surged to 2,625.4 million baht that already surpassed the previous annual record set in 2003.


Thiraphong Chansiri

TUF’s president, Thiraphong Chansiri, revealed, “The company net profit in Q3 reached 1,017.9 million baht, up 12 per cent from last year’s 911.9 million baht as earnings per share for the period attained 1.15 baht, also up 12 per cent from last year’s 1.03 baht in spite of slightly lower sales revenues in both Thai baht and US dollar term. In Thai baht term, Q3 sales fell 8 per cent from 18,430.7 million baht in 2008 to 16,931.4 million baht this year while in US dollar term, sales revenues also dropped 8 per cent from 544.9 million US dollar last year to 499.8 million dollar this year. Total revenues for the third quarter declined by 7 per cent from 18,548.5 million last year to 17,217.9 million baht this year.”

Khun Thiraphong added that net profit for the first nine months of 2009 rose to 2,625.4 million baht, up 39 per cent from 1,893.4 million baht for the same period last year. Sales for the nine-month period in Thai baht term amounted to 51,792.8 million baht, representing 2 per cent increase from last year’s 50,638.6 million baht. In US dollar term, sales revenues during the period dropped 3 per cent from 1,541.4 million US dollar in 2008 to 1,495.6 million US dollar this year. Total revenues, nevertheless, grew 3 per cent from 51,080.3 million baht for the first nine months of 2008 to 52,416.5 million baht for the same period this year.

Regarding the significant net profit growth for the first nine months of this year, Khun Thiraphong revealed, “This year, our net profit should break all past records. We are confident that the total net profit for the year could reach 3 billion baht, easily surpassing the record 2003 net profit of 2,279 million baht. Overall performance during the third quarter is promising, especially with 12 per cent growth in net profit from the same quarter last year, despite the fact that TUF has booked shutdown expenses worth 7 million US dollar due to the closure of its American Samoa tuna plant. That sent the administrative costs to a higher than usual level.


To watch a Video of the company, please click here

Sales in US dollar or Thai baht term showed minimal growth from the same period last year, mainly caused by generally lower raw material prices that led to lower product selling prices. Nevertheless, thanks to a growing proportion of higher value-added products in our portfolio that was driven by our strong customer base, we managed to expand our product variety and margins. The combination of these factors, in addition to strong performances at our subsidiaries, contributed to a very satisfying overall performance for the quarter. After all, we are confident that TUF can continue to grow our sales and profits consistently and in a sustainable manner.”

For Q3 of 2009 alone, tuna products remain the largest item in the company’s product portfolio at 43 per cent, followed by frozen shrimp (21 per cent), canned seafood (8 per cent) and frozen cephalopod (3 per cent). Main export markets include the US (49 per cent), Japan (12 per cent), European Union (11 per cent), Africa (5 per cent), the Middle East (3 per cent), Oceania (3 per cent), Asia (2 per cent), and Canada, and South America at 1per cent each. The domestic market accounts for 13 per cent of total sales.



In addition, Khun Thiraphong announced that the relocation of production from the American Samoa plant to a new facility in the state of Georgia, USA, has been completed. The Georgia plant has started manufacturing canned tuna, with an output capacity of 4 million standard cases per year. The existing plant in American Samoa will be utilized as a cold storage facility for raw materials. That is expected to help save costs and enhance the group’s competitiveness.

Khun Thiraphong concluded,” Based on what we have seen in the past 9 months, the company is realizing its high profit-generating potential. That convinces us that we will set a new record for this year.”

Related Articles

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Thai Union Frozen sees doubled Q2 profit

Thai Union, shrimp farms seal major deal

Thai Union Group Is Thailand’s 1st Seafood Producer With ACC’s 3 Star Certification

[lapamita]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,





Grammy profit to plunge by 20%
Focus on digital added to pain from downturn
Published: 19/11/2009 at 12:00 AM
Newspaper section: Business

GMM Grammy Plc, the country's largest entertainment company, expects its net profit this year to shrink by 20% from its record high of 705 million baht last year, chairman Paiboon Damrongchaitham said yesterday.

Meanwhile, total revenue for 2009 is expected to be on par with or to drop slightly from last year's 7.8 billion baht.

During the first nine months of the year, Grammy reported an 18% drop in net profit to 374.5 million baht, while its revenue edged up by 1% year-on-year to 5.83 billion baht.

The company blamed the economic downturn for its lower-than-expected performance. It has postponed all new music album releases and concerts until next year.

Grammy director Sumeth Damrongchaitham said the company had made efforts to mitigate the impact of the downturn, but without much success.

"Basically, when economic conditions are poor, we launch albums and artists to create new exposure. That usually works well, but it didn't this time," he said.

In addition to the gloomy economy, Grammy suffered from putting too much focus on its digital music business to the detriment of its physical product sales, which are still a major source of its revenue, he said.

"If we can balance digital and physical products next year, our performance will be better," he said.

The company's business performance in the third quarter would be the worst of this year, said Mr Sumeth.

The company's clients have cancelled two major events, he added.

In the July-September period, Grammy's total revenue stood at 1.87 billion baht, down by 12% year-on-year from 2.12 billion. Net profit declined dramatically, plunging by 58% year-on-year to 60 million baht.

In the third quarter, the music business, which accounts for nearly half of the company's total revenue, fell by 19% year-on-year, while media revenue declined by 13% year-on-year.

But RS Plc, the second-ranked entertainment firm, posted a net profit of 50.9 million baht in the first nine months, compared with a loss of 278 million in the same period last year.

It improved its overall performance in part by liquidating business units that had performed poorly and those with high risks.

Grammy's fourth-quarter results would likely improve on a gradual rise in advertising spending, said Mr Sumeth.

The company has high hopes for its satellite TV business next year, as well as of improved ad spending and of organising the Thai Pavilion in the World Expo in Shanghai.

Grammy shares closed yesterday on the SET at 14.70 baht, up 10 satang, in trade worth 3.8 million baht.

------------------------------------------------------------

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI


EXECUTIVE Q&A

Services a key component in sansiri's drive for the top
Published: 27/11/2009 at 12:00 AM
Newspaper section: Business

Sansiri Public Company Limited (SIRI) was established in 1984 to engage in the real estate business. It became a public company limited in 1995 and listed on the Stock Exchange of Thailand in 1996. As of Dec 31, 2008, its registered capital was 19.238 billion baht, 6.3 billion paid up, divided into 1,473,628,692 ordinary shares with a par value of 4.28 baht. Director Srettha Thavisin discusses the company's strategy and outlook.


Providing ‘‘total living solution’’ to residential customers is the goal, says Mr Srettha.

BUSINESS:
Please explain Sansiri's business model.

Sansiri is a complete real estate company. We provide all different types of residential real estate to our customers such as condominiums, townhouses and single detached houses. Our price range per product ranges from 1 million to 50 million baht. We complement our properties with additional services such as property management services, home services and brokerage services. Sansiri is the largest provider of such services in Thailand today. Thus to our customers we provide more than just a home, we provide a total living solution.

Please explain the breakdown in revenue between Sansiri's different property products.

Condominiums represent 40% of our revenue, single detached houses 40%, and the remaining 20% are townhouses. Going forward we will look to maintain these proportions. We do see a trend in a higher default rate in products valued less than 1 million baht. Thus, going forward we will be focusing on higher-value products.

What differentiates Sansiri from its competitors?

Sansiri is different in that we focus solely on residential property development. We are not interested in backward integration in owning construction companies. Also, the fact that we provide a total living solution separates us from other developers.

Does Sansiri have a large land bank? How do you manage inventory?

Fifteen to 20 years ago the SEC required that developers have land banks sufficient for five to 10 years to list on the Stock Exchange of Thailand. The regulations have changed since the crisis in 1997-98 and thus we approach new projects on a site-by-site basis, whereby we locate land plots and prepare the necessary pre-development. For our condominiums, our pre-sales performance has been and is excellent. We can normally sell a new project very quickly. Thus, for condominiums, ageing inventory is not an issue. For townhouses and single detached houses, the projects are sold on a phase-by-phase basis. Therefore, we rarely have inventory more than a month old.

INDUSTRY:
What are Sansiri's views on the property market in Thailand?

The trends of the buyers in property have changed positively over the past few years. The key factors are demographics, property development and property brand. Demographics have shifted from 15 years ago, when there were 4.7 members per family, down toward 2.8. Also, six to eight years ago, 60% of new house owners built their own houses. Today only 29% of houses are "owner-built". And, finally, house buyers today are looking more and more at branded properties, as they feel more confident in the quality. On the industry itself, we see that the barriers to entry are higher, both due to the trend in buyers' behaviour and the policies of commercial banks.

What impact are the banks having on the property market in Thailand?

The recent slowdown has forced banks to lend more selectively, which is why you see fewer and fewer small and mid-sized developers. This is why larger groups like Sansiri can gain greater market share.

FINANCIAL PERFORMANCE:
Sansiri recently announced a capital increase through private placement and warrants, essentially doubling registered capital. What are your plans with the additional funds?

We aim to be the No. 1 property developer in Thailand. We had two options to achieve this: either to raise debt to unsustainable levels or to increase equity and allow our current and new shareholders to participate in the next growth phase. This will be the largest equity increase by a property company in Thailand.

Sansiri's financial performance is lower versus its industry peers. What are the reasons for this?

We have spent a lot on branding over the past four to five years. Our revenue performance has increased over the past four years from 10 billion to 15 billion baht as a result and recently we have been focusing on making the organisation more efficient and on expanding with the base we have built. In the past few years our SG&A to revenue has declined from 21% to about 16-17% of revenue.

MISCELLANEOUS:
What do you feel are the biggest risks facing your business today?

Consumer confidence is the biggest risk. Quite simply, if consumers are worried about the economy, about their jobs, they are unlikely to purchase a new property. Also, rumours in the marketplace about Thailand and its politics affect our business because they create uncertainty.

Where do you see Sansiri in five years from now?

Sansiri will be the No.1 residential real estate developer in Thailand. With the increased capital in the firm we will be able to continue focusing purely on the residential real estate market in Thailand and on providing a total living solution to our customers.

The Executive Q&A Series is presented by ShareInvestor, Asia's leading financial internet media & technology company, and the largest investor relations network in the region with more than 400 listed clients. The interview was conducted by Pon Van Compernolle, managing partner of GVC Capital, an investment advisory firm focused on small-mid caps in Thailand. For more information, e-mail [e-mail] or [e-mail] or visit http://www.ThaiListedCompany.com

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF

CPF predicts 2010 profits will surge to top B10bn
Published: 17/12/2009 at 12:00 AM
Newspaper section: Business

Charoen Pokphand Foods Plc, the SET-listed flagship of the Charoen Pokphand Group, remains bullish on its bottom-line 2010 prospects after a surge in net profits expected to top 10 billion baht this year.

Adirek Sripatak, president and chief executive officer of CPF, said the company next year would focus mainly on profit rather than driving sales volume.

Sales in 2010 are expected to increase by just 5% to 7% from this year's expected revenue of 170 billion baht, with profit projected to outstrip sales growth.

"Next year's strategy will concentrate on expanding ready-to-eat food products both in domestic and international markets, building up distribution channels to cover more retail outlets and continuing efficiency development to cut production and operating costs," he said.

The shrimp business is expected to become a key revenue driver next year, given the increasing popularity of the company's prawn products and the competitive shrimp industry.

The outlook has improved for the Thai shrimp industry following an agreement to settle US anti-dumping orders against Thai shrimp imports.

In 2009, the anti-dumping duty on imported Thai shrimp to the US was 4.7% compared to 1% for rival countries. The termination of the anti-dumping duties on Thai shrimp should be positive for exports as the US is a major market.

Pork and broiler production are expected to expand gradually over the next two years as farmers remain cautious about the economic outlook and banks stay conservative on lending.

Given the projected limited supply in 2010, the International Monetary Fund forecasts pork prices to increase by 4.5% and shrimp by 6.7%, while chicken prices will remain flat.

Even though raw material prices are expected to be higher in 2010, CPF says it foresees limited impact as it has already locked in its raw materials at low costs. The company estimates that these low-priced materials will support its production until at least the first quarter of next year.

Raw material prices are expected to ease by the end of the second quarter due to an increased supply from the harvest season.

CPF reported a nine-month net profit of 8.079 billion baht, up from 2.823 billion in the same period last year.

Stronger-than-expected earnings in the third quarter of this year and no news of bird flu outbreaks in the fourth quarter prompted KGI Securities to revise its forecast for CPF's full-year earnings to 10.44 billion baht from below 10 billion.

Profits are forecast to reach 11.05 billion baht in 2010, the brokerage said.

CPF shares closed yesterday on the Stock Exchange of Thailand at 11.50 baht, up 6.5%, in trade worth 1.36 billion baht.

[lapamita]

Antwort auf Beitrag Nr.: 38.387.115 von lapamita am 14.11.09 05:18:22

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
-------------------------------
Amarin Printing still upbeat
Published: 18/12/2009 at 12:00 AM
Newspaper section: Business

For the struggling magazine industry, the weak economy and political turmoil are less of a concern than the growing belief that the print industry is losing its attraction to new media.

"What worries me is overexcitement about new media. Many people say the publishing business is dying," says Rarin Utakapan Panjarungroj, managing director of Amarin Printing and Publishing Plc.

Among traditional media, only TV has been making modest gains this year while radio, newspapers and magazines have all seen their advertising revenue drop.

According to The Nielsen Company, in the first 11 months of this year, ad spending on newspapers fell 9% to 12.6 billion baht and magazines were off 12.6% to 4.7 billion baht. But internet advertising, while making up 0.2% of the market, grew 43% to 226 million baht.

Total ad spending was 81.9 billion baht, down by 0.5% in the January-November period.

Amarin Group would likely face a 13% drop in ad revenues by the end of the year, said Ms Rarin.

She remains optimistic about the future of magazines, but cautions that the survivors must be top-five players who can attract readers and ad spenders. However, magazine content must be reliable, which is the strength of print media by nature.

In Amarin's experience, readers find some kinds of information more credible when they see it in magazines rather than the internet, for example content related to home and health.

However, the group is not ignoring new media. It aims for online revenues to make up 10% of its total in five years. It will strengthen its popular website, http://www.banlaesuan.com, linked to its Ban Lae Suan (Home and Garden) magazine. Websites with women's and lifestyle content would be the next target.

"Once young generation in the future need not read books in school, then printing will die. But I don't think that would happen," she said.

Thanachai Theerapatanawong, the president of Magazine Association of Thailand, said he strongly believed that new media would not replace traditional media at least in the next five years.

In 2009, 39 new magazine titles were launched, a slow pace when compared with previous years.

----------------------------------------
Map Tha Put might derail 2010 growth
3% projection could be slashed to 2.2%
Published: 17/12/2009 at 12:00 AM
Newspaper section: Business

Economic growth could drop to just 1.2% to 2.2% next year compared with earlier projections of 2% to 3% as a result of the Map Ta Phut case, according to Anusorn Tamajai, the dean of Rangsit University's Faculty of Economics.

"The Map Ta Phut case is the most important factor that would have great effects on the economy due to delays of investment, employment and production in the industrial sector," Dr Anusorn said.

Although the investment value of the 65 suspended industrial projects at the Map Ta Phut industrial zone may not have a significant impact on the country's GDP, the problem has strongly shaken the confidence of investors and entrepreneurs looking to invest in Thailand's heavy industry.

The initial damage of the Map Ta Phut case is estimated at 44.96 billion baht, equivalent to 0.5% of next year's GDP. "The impact is expected to worsen if more projects are under scrutiny and suspended," he said.

At least 200,000 jobs will go if the situation is prolonged. A current account surplus of between $2 billion and $7 billion is also likely due to the delay of imports for production, causing the baht to strengthen.

He said the government should issue a government decree establishing independent environmental organisations to oversee the problems as soon as possible as 45 out of the 65 projects had already conducted environmental impact assessment reports.

Dr Anusorn added that Dubai's debt crisis and Vietnam's currency devaluation were other important factors to watch out for.

"The financial problems of Dubai may not directly hurt Thailand as our financial institutions and businesses have no significant investment there. But our key markets like Europe and Japan are affected which could hurt our exports," he said.

Dr Anusorn said the government should inject 200 billion baht more to ensure the economy meets the growth target. The Bank of Thailand should also keep the key interest rate low for as long as possible despite inflation pressures.

"Inflation next year is not worrisome as it will be pressured by production costs and supply shocks rather than by demand," he said.

Sookprida Banomyong, senior adviser at Electricity Generating Plc (Egco) and a Vietnam specialist, expects Vietnam to keep the dong weak after it recently devalued the currency by 5% in an attempt to keep the lid on runaway inflation.

"Thai products such as jasmine rice would still do well in the export markets next year, but we should remain cautious and need to adjust ourselves in preparation for more intense competition from Vietnam which has an edge due to the weakening dong," Mr Sookprida said.

The initial damages from the three factors are estimated at 71.96 billion baht in total, equivalent to 0.8% of the GDP in 2010.

But Thanit Sorat, vice-chairman of the Federation of Thai Industries, expects the Thai economy to grow 3% to 3.5% next year, with 4% growth projected in the first half. The growth will be supported by the stimulus programmes and private investment, which was forecast to rise by 6.6%, compared with a 13.7% contraction this year.

--------------------------------------

B9bn solar-cell farm for Lop Buri
73-MW facility will be largest in the world
Published: 18/12/2009 at 12:00 AM
Newspaper section: Business

The Thai unit of Hong Kong-based China Light & Power (CLP) will join next year with Egco Group and Mitsubishi to invest in the world's largest photovoltaic solar-cell farm worth 9 billion baht, says managing director Woramol Khamkanist.

"Thailand is CLP's target as the government provides full support for renewable energy. We can enjoy a tax holiday, subsidies and soft loans that will make the project commercially viable. Compared to others in Southeast Asia, Thailand is better than anyone," Mr Woramol said.

CLP (Thailand) said the installation would be located in Lop Buri and have a total capacity of 73 megawatts.

As the project requires a massive investment, CLP decided to join with SET-listed Egco Group and Japan-based Mitsubishi. All three hold equal stakes in the new venture called Natural Energy Development Co (NED).

"The development of solar cells is part of our mission. The regional office is focusing on clean energy development and carbon cuts. We are aiming to see 20% of our capacity to be emission-free such as nuclear and hydro, with more than 5% of total capacity coming from renewable energy," said Mr Woramol.

The investors are now in the process of purchasing 1,160 rai in Lop Buri for the solar farm and are seeking investment privileges from the Board of Investment.

They are also waiting for its environmental impact assessment to be approved while selecting solar equipment, transformers and converter technology to match its requirements.

The company also hopes to sign a power purchase agreement with the Electricity Generating Authority of Thailand, the country's sole power buyer.

------------------------------------------

IRP weighs US$90m European investment
Europe's massive PET shortfall 'a gap to fill'
Published: 17/12/2009 at 12:00 AM
Newspaper section: Business

LOP BURI : SET-listed Indorama Polymers Plc, the world's second largest polyethylene terephthalate (PET) producer, is considering investing US$90 million in a new factory in Europe.


Aloke Lohia, founder and chief executive of Indorama Ventures, says IVL will seek to list on the SET early next year, at which point IRP would be delisted.
IRP will decide whether to build the new production facility or acquire an existing plant within the next few months.

There is a massive shortage of PET in Europe where demand for the product is high. And any new facility should have a capacity of about 150,000 to 200,000 tonnes a year, said chief executive Dilip Kumar Agarwal.

"We have been in talks for mergers and acquisitions in Europe where some factories have been shut down," he said yesterday.

"Despite the economic slowdown, Europe continues to imports about 1 million tonnes [of PET] a year. This is a gap we want to fill."

Northern and southern Europe are the locations with the highest investment potential.

At present, IRP operates three factories in northern Europe - in the Netherlands, the UK and Lithuania - with a combined capacity of 550,000 million tonnes.

The company also owns production facilities in Thailand and two in the US.

IRP's annual PET output will top 1.48 million tonnes when its Alabama-based AlphaPet plant reaches full capacity in the first quarter next year.

The firm currently holds 9% of the global PET resin market. The product is normally used in the production of drink bottles, a sector which is expected to grow 4% to 6% next year from an estimated 15 million tonnes in 2009.

In the first nine months, IRP posted total revenue of 32.85 billion baht, compared with 30.9 billion earned in the same period last year. Net profit rose by 69% to 1.58 billion baht.

The company is 70% owned by Indorama Ventures Plc (IVL), which runs business producing purified terephthalic acid (PTA), polyester fibre and yarn, and wool.

IVL, the world's leading vertically integrated polyester producer with an annual capacity of 1.75 million tonnes, reported turnover of 59.1 billion baht during January to September, an increase of 60% year-on-year. Earnings jumped by 160% to 4.5 billion baht in the same period.

According to Aloke Lohia, IVL's founder and chief executive, IVL plans to list on the Stock Exchange of Thailand by February next year. IRP will delist at the same time.

After the delisting, the parent company would provide full financial support for IRP's future expansions, said Mr Lohia.

Shares of IRP closed yesterday on the SET at 13.20 baht, up 10 satang, in trade worth 78.6 million baht.

-----------------------------------------

Pranda puts focus on own brands
Published: 17/12/2009 at 12:00 AM
Newspaper section: Business

The SET-listed jewellery manufacturer Pranda Jewelry Plc expects its sales to rise by 10% next year with an expansion to China and India and an increased focus on the company's own brands, says president Prapee Sorakraikitikul.

Soaring gold prices have led the company to increase its silver products, said Mrs Prapee.

While Thailand's jewellery exports this year fell by 16%, Pranda's sales are expected to slip by 10% year-on-year as silver products are up from 60% to 80% of its production, cutting more expensive gold products to only 20% of output.

But Pranda expects its sales next year to grow by 10%, while Thailand will see a 15% increase in jewellery exports, said Mrs Prapee. In her view, gold will fall below US$1,000 per ounce next year, at which point the company may consider shifting its production toward gold.

"The slump, I think, has already ended, but next year we would still expect slow growth. We are still conservative, but progress could accelerate if the price of gold lowers. But even if the price of gold increases at a high rate, we wouldn't be affected because our base material is silver," said Mrs Prapee.

The company expects gains in the fourth quarter, up from a 40-million-baht loss in the same period last year, since it is the high season for the business.

"This year's profit is likely to be higher than last year's figure of 180 million baht," said Mrs Prapee.

The company's nine-month consolidated net profit was 150.7 million baht, helped by cost controls and cheaper raw materials, but down from 229.9 million in the same period last year.

The gross profit margin next year is expected to be in the range of 36% to 38%, compared to 38% for the first nine months this year.

Mrs Prapee said the Asean Free Trade Area next year would increase marketing options to India and China. About 90% of the company's revenue comes from exports, with 35% shipped to Europe, 35% to the US and 30% to Asia.

Finance chairman Dusit Chongsutthanamanee said Pranda planned to open more franchises next year, using its 300-million-baht budget for investment.

Pranda currently has 10 franchises in China. Next year it will invest 50 million baht for 20 more shops selling Esse products in Shanghai. Another 50 million baht will be invested in India for Prima Gold products.

Pranda will try to increase the proportion of revenue contributed by its own brand manufacturing to 50% within five years, said business development manager Chanat Sorakraikitikul. Own brand production provided 28% of revenue in the first nine months of this year but Mr Chanat expects it to make up more than 30% next year.

Currently 72% of Pranda's products are original design manufacturing (ODM). Mr Chanat expects a focus on own brands will enable it to control the market and protect its employees. OBM offers a better gross margin at 40-45%, against 30-35% for ODM, he said.

Pranda shares closed yesterday on the SET at 4.76 baht, up two satang.

-------------------------------------------

CMO expects lift from state spending
Published: 17/12/2009 at 12:00 AM
Newspaper section: Business

The event organiser CMO Group expects 20% revenue growth to 880 million baht next year as the economy improves and the government increases spending.

CEO Sermkhun Kunawong said government spending would help the event business next year. The overall industry should increase by 10% in 2010, against a 5% drop to 10.2 billion baht this year.

However, political risk remains a concern, notably a court ruling next month in the case of fugitive former prime minister Thaksin Shinawatra, which could touch off more demonstrations by his red-shirted supporters.

"The global crisis, local political issues, and diplomatic problems with Cambodia dragged down the event industry [this year], including the performance of CMO Group as well," he said.

CMO, the organiser of Hands Bangkok Countdown 2010, projects it will generate revenue of 735 million baht this year, short of its target of 800 million.

In the third quarter, CMO reported a net loss of 33.6 million baht, compared to a net profit of 46 million in the same period last year, while revenues dropped by 67% to 216 million baht.

Tensions with Cambodia have affected CMO's event business there with 20 million baht in lost business. For the first nine months of 2009, it reported a net loss of 34 million baht, compared to profits of 41 million a year earlier.

Mr Sermkhun said the business direction in 2010 for CMO would focus on annual executive meetings. It will build networks and relationships with partners in main markets including Vietnam, Cambodia, Malaysia, Singapore, Burma, and Laos. The company may set up representative offices in these countries. It also aims to obtain at least 20 international jobs in 2010.

With these strategies, CMO set up a new subsidiary, CM Mice, to serve high demand from Mice customers and to support the market operation in Asean. Its first event, OCSC International Education Expo 2009, drew more than 50,000 visitors over two days at Siam Paragon.

CMO shares closed yesterday on the Market for Alternative Investment (MAI) at 1.16 baht, up three satang.

------------------------------------------

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
-------------------------------

Insurers see robust growth ahead
'Micro-insurance' among healthy trends
Published: 2/01/2010 at 12:00 AM
Newspaper section: Business

Amid economic troubles both at home and abroad, the Thai insurance industry is among the few that have emerged from the crisis unscathed, with its prospects forecast to keep flourishing in the Year of the Tiger.

The life insurance industry, in particular, is expected to sustain healthy growth in a range of 18-23% in 2010 from estimated 15-20% growth in 2009, while the non-life insurance market could grow by between 6% and 9% from about 2.5% at the end of 2009.

In 2008, the overall insurance industry produced direct written premiums totalling 329.6 billion baht, a rise of 12% from a year earlier.

Life insurance contributed 223.35 billion baht, up 10.6% from 2007, and general business totalled 106.25 billion baht, up 5.6%.

"The life insurance business surprisingly retains its strong growth despite the world financial crisis and the country's economic and political spats," said Sara Lamsam, president of Thai Life Assurance Association. "This reflects Thai people's better understanding of and trust in the life insurance business."

However, more diversity of insurance products and multiple distribution channels, particularly supported by bancassurance, also play a vital part in driving the industry's growth.

Last year marked the first time that all banks had sought partnerships with life insurers to offer insurance products. The banks themselves have fully expanded into bancassurance partially because of the economic slowdown. Having seen their loan extension targets derailed by the crisis, many banks relied more on non-interest incomes especially those from bancassurance commissions, which are relatively immune to economic conditions.

More importantly, from insurers' perspective, having bank branches as another distribution channel will help enable them to gain greater access to customers in addition to their 300,000-strong sales force.

Selling insurance products through bank branches has also eliminated the question of credibility of the middleman.

According to Mr Sara, growth through bancassurance was also expected to accelerate further over the next three to five years. Thailand's life insurance industry still has room to grow, with the penetration rate at about 1.8% of gross domestic product, compared with 2.8% in Malaysia, 6.3% in Singapore and 8% in South Korea.

Kasikorn Research Center said life-insurance prospects should be even more promising in 2010. The global and local economic recoveries will directly lift people's purchasing power and confidence.

The government's policy to promote micro-insurance among low-income earners and annuity products among Thais in a bid to ease constraints on social welfare budgets is also expected to give the industry a big boost.

Micro-insurance is a term increasingly used to refer to insurance characterised by low premiums and low coverage limits. Such financial products are designed mainly to serve low-income earners and businesses not served by typical social or commercial insurance schemes.

According to Mr Sara, micro-insurance would play a critical role in driving growth over the next three to four years, as several insurers are now training their focus on the grassroots market.

He forecast that by the end of this year, the number of policyholders in the life industry would rise to 30% of the population from the estimated 25% at the end of 2009.

The country's recovering exports and economy, as well as the government's Thai Khem Kaeng stimulus programme, are also expected to be a boon for the non-life insurance industry, particularly fire, industrial, all-risks and engineering insurance.

Although Thailand was not severely affected by the world financial crisis, the non-life insurance business has been seeing changes, be it consumer behaviour, the increased role of the state and regulatory bodies, or varying requirements of investors who have started focusing more on security rather than hefty yields, which always come with hidden high risks, according to Thai Reinsurance Plc.

The upcoming implementation of risk-based capital (RBC) and international financial reporting in 2011 are also expected to affect the country's insurance structure and competition.

Mergers and acquisitions in the Thai market are likely as some insurers may need more capital under the new regulatory regime. It requires insurers to maintain capital funds proportionate to their assets, debts, liabilities and risks, to protect customers and the general public.

This is likely to result in some local insurers aligning themselves with international strategic investors to provide funding, and with others seeking to merge in order to achieve greater market presence and capital base.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA


Amata aims to expand in region
Strategy should cut risks from Thai market
Published: 8/01/2010 at 12:00 AM
Newspaper section: Business

Amata Corporation, an industrial estate developer, is seeking to expand in neighbouring countries in an attempt to reduce the risk of its business in Thailand, says chief operating officer Viboon Kromadit.

The company, which already operates in Vietnam, is considering setting up in countries including Burma, Cambodia and Laos, he said.

"Countries such as Burma can cater towards Indian and European customers," said Mr Viboon.

"If the political situation in Burma is stable, I believe foreigners will be interested because it is close to India, which is a growing economy. Moreover, it [Burma] has plenty of raw materials and a low cost of labour."

While Amata is looking at Laos and Cambodia, the countries may be too small to attract a significant number of foreign customers, he said.

Amata is also seeking more land in Vietnam as the company has just 600 rai (100 hectares) of land left for lease in its existing project there.

The developer has not finalised its first-quarter forecast yet as any outlook will depend on whether a resolution can be met regarding the Map Ta Phut dispute, said Mr Viboon.

"If the results [of Map Ta Phut] are clear, we will be able to estimate revenue figures. However, a worst-case scenario will indicate performance similar to last year," he said.

Amata sold around 200 rai of land in the first quarter last year, its worst performance in seven years.

"This year's performance will be affected by the loss of investor confidence and the country's economy, which has not yet recovered," he said.

The economy is currently in a weaker position than most people believe and the recovery will likely only be temporary, he added. "If it [the recovery] is to be permanent the private sector needs to be able to run by itself. Currently, the government is injecting money [in a way] which is not sustainable."

The Map Ta Phut issue has caused a tremendous loss of investor confidence. The many businesses affected by the impasse between industry and local communities include factories in the Map Ta Phut industrial estate that supply factories in Amata's industrial estates.

"As for newcomers, how confident will they be?"

Mr Viboon's comments echoed those of Munenori Yamada, president of the Japan External Trade Organisation, who said on Wednesday that Thailand was no longer a priority for Japanese investment.

"Sixty percent of Amata's customers are Japanese. Losing their confidence will become a crisis," said Mr Viboon.

"The government needs to find a way out. If the problem persists, damage will be caused. When factories leave, trying to bring them back is not a fun thing to do."

Mr Viboon said Amata currently had 1,800 rai of developed land ready for sale, out of a total 10,000 rai.

Amata has signed a memorandum of understanding with the Science and Technology Ministry and leading higher education institutions to establish the Amata Science City in Chon Buri province's Amata Nakorn industrial estate.

A feasibility study on establishing the science city is currently being conducted and is expected to be concluded within four months, said Science and Technology Minister Khunying Kalaya Sophonpanich.

The 2-billion to 3-billion-baht project is expected to use up to 500 to 1,000 rai of land, said Somhatai Panichewa, chief business officer at Amata Corporation.

Amata shares closed yesterday on the SET at 8.15 baht, up 45 satang, in trade worth 142.47 million baht.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI

Sansiri to develop projects totalling B27bn this year
Politics clouds market outlook, says president
Published: 21/01/2010 at 12:00 AM
Newspaper section: Business

SET-listed Sansiri Plc plans to develop 20 projects worth 27 billion baht this year with sales projected to grow by 21% to 20 billion baht.

Of the total projects planned, eight will be condominium developments located in prime business areas or near mass transit routes.

The first three projects, worth about 7 billion baht, are due for launch in the first quarter.

In the latter part of the year, Sansiri plans to build its first low-cost condominium under the Board of Investment Home programme, on a 10-rai site in Rattanathibet. The project will mark the developer's entry into the lower-end market to support its targeted revenue growth of 15% to 20% each year.

President Srettha Thavisin said this year would bring a slight improvement in the value of the Thai property market of about 5% to 10% year-on-year. But political uncertainty will continue to cloud the market outlook and remains the main factor damping sentiment.

''The economic figures have shown that the economy is going in a good direction,'' he said.

''Fund managers are most concerned about the political issues. Without such issues, Thailand would be one of the most appealing countries for investors.''

Sansiri delayed its earlier plan to finish raising its registered capital by the end of last year, because of poor market sentiment. The company expects the fundraising, through the issue of 1.473 billion shares, to resume next month providing there is no increase in political risk.

Mr Srettha said the company would not be affected if the capital raise was unsuccessful as it has no liquidity problems and the project finance can rely on bank loans as well as issuing debentures.

Sansiri forecast its sales this year would grow by 21% to 20 billion baht from 16.5 billion baht last year. Revenue is projected to rise to 18 billion baht, a 6% increase from the 17 billion baht expected in 2009.

Net profit in 2009 is estimated to have risen by 64% to 1.5 billion baht from 914 million in 2008.

The company currently has a presales backlog of 16.5 billion baht to be realised in three years.

Sansiri and its subsidiaries currently have about 70 projects to support sales throughout 2010.

Sansiri expects its net profit margin to reach double digits this year as the cost of marketing declines due to more efficient management and media targetting.

The company also delayed its plan to sell a six-unit condominium near London's High Street Kensington to the second or third quarter this year. The residence costs about 15,793 to 16,722 per square metre. Other overseas projects, including those in Vietnam and New York, are under review.

Sansiri has a 2.4-billion-baht budget to buy land this year. The company is considering plots in Pattaya and Phuket.

Sansiri shares (SIRI) closed yesterday on the Stock Exchange of Thailand at 4.46 baht, up two satang, in trade worth 44 million baht.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA

Jan 22, 2010
Amata Corp. plans to list Vietnam unit by 2010

VNStockNews.com - Amata Corp, Thailand's largest seller of industrial land, said on Friday it expected to list its subsidiary Amata (Vietnam) Co on the Ho Chi Minh Stock Exchange (HOSE) by the end of this year.

The company planned to conclude details about the IPO and prices in the next few months and the exact timing would depend on market conditions, Vice President for investment Varaporn Vatcharanukroh told reporters.

"We are considering how to raise fund, IPO prices and shareholding structure," she said.

Amata (Vietnam), which has registered capital of $20 million, has transformed itself into a public company as part of a preparation to list, Varaporn said adding the subsidiary was also considering a dual listing plan in Bangkok and Vietnam bourses.

Amata, which owns about 60 percent in Amata Vietnam, delayed plan to list its Vietnam subsidiary from 2008 due to the global economic crisis.

Amata, a bellwether for foreign investor sentiment towards Thailand, operates two industrial estates -- Amata Nakorn in the eastern city of Chonburi and Amata City in the eastern province of Rayong. Japanese car makers are among its biggest clients.

Varaporn said she expected Amata's land sales in 2010 would be higher than 2009's as it targeted more clients from China, South Korea, Taiwan and the United States.

Shares in Amata, valued $244 million on the Thai bourse, were down 3.3 percent at 7.30 baht at 0755 GMT, while the overall market was 0.66 percent lower. (Reuters)

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL

INSURANCE
SCNYL looks set to top 2009 record performance

* Published: 22/01/2010 at 12:00 AM

Siam Commercial New York Life Insurance (SCNYL) expects to beat its record earnings from 2009 this year, even as sales growth slows, because of a bigger revenue base.

President and CEO Donald Carden said the company was upbeat about wrapping up 2009 operating results with the bottom line much higher than the year before. He did not disclose figures pending a report to the Stock Exchange of Thailand.

SCNYL reported net profit in 2008 of 1.2 billion baht. For the first nine months of 2009, profit rose to 1.18 billion, driven by business growth mainly through bancassurance.

Despite the global financial crisis and political unrest at home, the company reported total premiums last year of 19.48 billion baht, an increase of 29%. Its annualised first-year premiums from all distribution channels rose 28% to 8.63 billion baht over 2008 and 23% ahead of the target.

"Last year represented a dramatic 2751% increase from 300 million baht in first-year premiums in 2000," said Mr Carden, who has been at the helm of the joint-venture company since its outset.
Bancassurance through Siam Commercial Bank (SCB), the company's bank partner, remains the core strength that supports growth, producing 7.12 billion baht in first-year premiums last year, a rise of 34% over 2008.

The company also saw rapid growth in non-bank channels, particularly from developing agency channels growing 10% to 972 million. Sales from the special market (civil service, credit life, affinity, telesales and group life) were 541 million baht, down 5.3% from 2008.

Given a bigger revenue base and anticipated slower growth of bancassurance, SCNYL this year projected total premiums to grow by 15% with new business premiums rising by just 10%.

The company expected its bancassurance to generate about 7.5 billion baht this year, a rise of only 5.6% from 2009.

However, it projected a surge in sales through agency channels, where the company has 6,500 licensed agents and plans to add as many as 500 new agents per month this year, and special markets. Sales by agency channels are expected to top 1.4 billion baht and special markets should grow 35% to 730.35 million baht.

[ThaiClaus]

Sansiri chief raises holding
Published: 3/02/2010 at 12:00 AM
Newspaper section: Business

The president of Sansiri Plc, the SET-listed developer, is set to become a new major shareholder after acquiring shares from foreign funds.

Srettha Thavisin finalised a deal yesterday with a foreign fund to obtain 178 million shares priced at five baht apiece. Mr Srettha is also in negotiations to buy 135 million shares from another fund. The deal is expected to be finalised this month. Cash and bank loans will be used for the purchase.

The increased shares will give Mr Srettha 24%, up from 2.52%.

"The purpose is because I have confidence in the growth potential of Sansiri. Also, Thailand's property market has been promoted by the government, which should help support business growth," said Mr Srettha. "This should also create confidence for shareholders."

Mr Srettha added that having a new major shareholder would not affect management policy, nor would there be any structural changes in management.

Sansiri announced earlier a plan to develop 20 projects worth 27 billion baht this year with sales projected to grow by 21% from last year to 20 billion baht.

Of the planned projects, two will be townhouse developments and 10 single-house estates. It recently launched a single-house project worth 1.1 billion baht called Sansiri Thakam-Rama II, comprising 242 units. It has sold 25 of the 70 units in the first phase.

Metha Angwatanapanich, executive vice-president for business development and project development, said demand for single houses and townhouses in Rama II, Pracha Uthit was healthy, with other players including Land & Houses and Quality Houses also in the market.

"Single housing products priced at 3 to 5 million baht and townhouses priced at 2 to 3 million baht are selling in this area," Mr Metha said. "The prospects for condo development around this area should be low-cost projects."

Expensive land prices on Rama II prompted developers to look to cheaper areas nearby, including Pracha Uthit and the Outer Ring Road.Mr Metha said that a house on a 50-square-wah plot in costlier locations would have to be sold for at least 4 million baht, which is difficult in a weak economy.

Sansiri shares (SIRI) closed yesterday on the SET at 4.56 baht, up eight satang, in trade worth 102.5 million baht

[lapamita]

!

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[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
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post 10 KYE,RATCH,CPN
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post 12 becl,top
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post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
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post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
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post 37
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post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
---------------------------------------------------------


Major life assurers upbeat on 2010 outlook
By THE NATION
Published on March 4, 2010

Siam Commercial New York Life Insurance (SCNYL) and Muang Thai Life Assurance are both bullish on business prospects this year, expecting premiums to grow 10-15 per cent after robust performance in 2009.

SCNYL this year projects its total premiums to grow 15 per cent and first-year premiums to rise 10 per cent, while president and CEO Donald Carden believes the life-insurance market will maintain positive growth this year.

The development of new products, and expansion of the distribution network to meet the demands and lifestyles of consumers as well as marketing campaigns by key players, will lead to stronger competition, he said.

This will benefit customers and give them more investment options. However, it will also directly spur overall growth of the life-insurance industry, he added.

In 2009, SCNYL reported 32-per-cent growth in net profit and 29-per-cent growth in revenue, despite the economic downturn and intense competition in the life-insurance market.

Its revenue increased Bt4.82 billion to Bt21.39 billion, while net profit jumped from Bt1.19 billion to Bt1.58 billion.

"The robust financial results in 2009 was a great accomplishment, as we were able to achieve steady performance in the face of the most challenging economic downturn. Last year, SCNYL recorded strong 28-per-cent growth in first-year premiums and also ranked No 1 in terms of growth among New York Life International operations," Carden said.

"The company has continued to be an integral part of New York Life International, to drive business growth both in sales and financial position, for the past 10 years," he added.

The healthy results further solidified the financial strength of SCNYL, a joint venture of Siam Commercial Bank and US-based insurer New York Life International, in the face of economic uncertainty where consumers remain cautious and look for quality advice.

The sharp rise in revenue was attributed to a significant increase in key sources of revenue. Last year, SCNYL's net premiums rose by Bt4.36 billion. Invested assets meanwhile grew 33 per cent to Bt49 billion, from Bt36.64 billion a year earlier. Of the invested-asset portfolio, Bt38.78 billion or 79 per cent was invested in bonds, reflecting its conservative investment policy to protect the benefits and financial security of policyholders. The life-insurance policy reserve jumped to Bt43.66 billion, from Bt32.74 billion.

Meanwhile, Muang Thai executive Wasit Lamsam said the company expects premiums to grow from Bt4.21 billion last year to Bt4.65 billion.

"If all the 2010 targets are achieved, the number of retail clients will exceed 1 million, from the present 600,000. We believe the targets are achievable, as the overall industry should be in better shape than last year," said Wasit.

Muang Thai plans to increase the number of agents to 1,200 this year, while five more regional offices will be opened to raise the total number to 12 for more extensive training. It also plans to launch 10 new products this year, including riot insurance for which demand is increasing due to the growing political tension.

Muang Thai's net profit last year was Bt257 million, up 357 per cent from Bt57 million in 2008. Premiums reached Bt4.55 billion, up 8 per cent year on year.

Meanwhile, portfolio investment - 21 per cent in stocks, 54 per cent in government and corporate bonds and 23 per cent in deposits - generated 4.3 per cent in returns.

Ranked No 5 in the industry, the insurer aims to become one of the top three in the near future.

[ThaiClaus]

2010 OUTLOOK
Life Insurance bullish on Thailand
By ACHARA PONGVUTITHAM
THE NATION
Published on April 1, 2010

Despite the ongoing political turmoil, life-insurance companies are maintaining positive views on Thailand's economy, saying the demonstration will not drag on for long and predicting high growth this year.

"We are optimistic about the Thai economy this year. Thailand still has a great business potential, as the penetration rate is still lower than 25 per cent," Donald Carden, president and CEO of Siam Commercial New York Life Insurance (SCNYL), said yesterday.

He said 2009 was the company's best year, with premiums surging 29 per cent to nearly Bt20 billion despite the economic downturn.

New York Life International chairman and CEO Richard Mucci said the red-shirt rally in Thailand would hurt confidence among businesses and people alike.

However, the company believes in the strong fundamental of Thailand's economy, and the company prefers to take a long-term view here.

"We believe that the demonstration will not be continued for long, but rather is a short-term situation," Mucci said.

Muang Thai Life Assurance president Sara Lamsam said his company's first-quarter premiums jumped 44 per cent year on year.

However, he declined to comment on whether the red-shirt rally would hurt the country's economy for the remainder of the year, saying it was too early to assess the situation.

"We cannot say anything about the political situation now but hope it won't drag on for very long," Sara said.

Of the Bt7 billion in first-quarter sales, new policies accounted for Bt3 billion and renewals the rest.

The company's bancassurance business enjoyed significant growth, accounting for half of all premiums, while insurance agents controlled 20 per cent.

SCNYL's Carden said his company had enjoyed double-digit growth over the past 10 years, except in 2006, when the overall industry suffered negative growth.

The company hopes to achieve a robust growth for another year.

Last year, SCNYL reported Bt19.48 billion in total premiums, up 29 per cent from 2008, while assets totalled Bt50 billion.

Its operational results for this year's first quarter will be reported in the next couple of weeks.

The company is ranked among the top five insurance companies, with a 7.3-per-cent market share in total premiums, 8.7-per-cent share in new-business premiums and more than 650,000 individual life policies in effect.

"Our outstanding success is proved by every measure: sales, profitability, financial soundness and market share", said Carden.

Meanwhile, SCNYL yesterday said in honour of its 10th anniversary, its goal was to be the life-insurance company of choice for Thais.

The company will initiate 10 corporate-social-responsibility programmes this year, focusing on four areas: education, occupational development, quality of life and environmental preservation.

For each new individual policy - except group life - sold through any distribution channel until September 10, regardless of the minimum sum assured, SCNYL will contribute Bt10 to 10 selected charities serving needy children nationwide.

"SCNYL has played an important role in the growth and success of our international business. In fact, it was the fastest-growing international operation at New York Life in 2009, with sales increasing 35 per cent. That is a truly outstanding achievement in this economic environment," Mucci said.

"We couldn't have achieved the success we have in Thailand without a solid and first-class bancassurance partner: Siam Commercial Bank."

He said international markets, including Thailand, were an important growth area for New York Life. More than 20 percent of the firm's new life-insurance sales are generated in Asia and Latin America.

The company remains committed to expanding its international business, with more than $750 million invested over the last three years.

[ThaiClaus]

Antwort auf Beitrag Nr.: 39.257.394 von ThaiClaus am 31.03.10 19:24:17

NY Life foundation sound

1/04/2010 at 12:00 AM

New York Life International, the overseas arm of US-based New York Life Insurance, remains confident in the business prospects of its Thai joint venture despite the country's ongoing political standoff.

"We still believe in Thailand's long-term strong economic fundamentals," said Richard Mucci, chairman and CEO of New York Life International, who was in Bangkok yesterday to celebrate 10th anniversary of Siam Commercial New York Life Insurance (SCNYL).

"The ongoing political situation may affect people's confidence and disrupt the way people are doing business, but we are here with a long-term commitment."

Mr Mucci said SET-listed SCNYL was the fastest growing international operation of New York Life in 2009, with sales increasing 35% despite the tough economic and political environment locally.

Currently, more than 20% of new sales of life insurance by New York Life are generated in Asia and Latin America.

"New York Life remains committed to expanding its international business and it has invested more than $750 million of capital in New York Life International over the last three years," he said.

SCNYL is also recognised as one of the fastest growing companies in the Thai life industry, producing total premiums of nearly 20 billion baht in 2009 compared with only 843 million in 2000. Its total assets have risen over the decade from 2.1 billion baht to 50 billion.

The company is now ranked among the top five insurers and is the leader in bancassurance through its relationship with Siam Commercial Bank.

Last year, its profit rose to 1.58 billion baht compared with 1.19 billion in 2008.

SCNYL this year projects total premiums will grow by 15% with first-year premiums rising 10% from 8.63 billion baht in 2009.

"Over the next 10 years, we still foresee a bright future for SCNYL thanks to outstanding bank partner Siam Commercial Bank, strong executive leadership and a dynamic distribution channel strategy," said Mr Mucci.

SCNYL shares closed yesterday on the SET at 400 baht, unchanged, in trade worth 80,000 baht.

[ThaiClaus]

MEDIA
Post expects turnaround in 2010

* Published: 10/04/2010 at 12:00 AM
* Newspaper section: Business

Post Publishing Plc expects to show a turnaround in operations this year thanks to local and global economic recovery.

Supakorn Vejjajiva, the Post chief operating officer, said revenues for the first quarter had rebounded by 9% from the same period last year as the advertising market has shown signs of picking up.

Profitability of both the company's flagship papers - the Bangkok Post and Post Today - is expected to improve in 2010, Mr Supakorn told shareholders at the company's annual meeting yesterday.

The company reported a 2009 consolidated loss of 97.93 million baht, compared with a profit of 12.19 million the year before. Revenue fell to 1.61 billion baht in 2009 compared with 1.8 billion the year before.

Mr Supakorn said that the losses in 2009 stemmed primarily from the rise in newsprint prices to $781 per tonne compared with $641 the year before.

Display advertising, the primary source of revenues for the company, also plunged in the economic crisis, particularly in the Bangkok Post's property and multinational job segments.

Expenses last year included 78 million in new IT capital spending and a 50-million-baht one-time charge for an early retirement programme, which is expected to save 25 million per year going forward.

Suthikiati Chirathivat, the Post executive chairman, said the company was hopeful of a turnaround in 2010, but acknowledged that political strife had had a major impact on revenues and sales.

"The decline in tourism has heavily affected sales to hotels and tourists at the newsstand, particularly for the Bangkok Post," he said, adding that the paper remained "number one in our market, by far".

Mr Suthikiati said the company was also continuing to develop its magazine portfolio as well as expanding into events, online media, TV and radio broadcasting.

The company recently won a one-year contract to produce news content for NBT Channel 11, starting in May. Post Publishing also produces TV programming for Channel 5 and TNN. It won the contract with a bid of 120 million baht, and gains the right to sell advertising during news programmes.

"We are continuing to invest in new businesses. But it will take time, and involve additional expenses. But we expect to see results shortly from the foundation built up since last year, as we look to capitalise on the strong brands we have in the Bangkok Post and Post Today," Mr Suthikiati said.

The company, through a wholly owned subsidiary of Post International Media, publishes Elle, Cleo, Marie Claire and last year launched the Thai-language Martha Stewart Living. Post Books, the company's publishing unit, also saw increased growth in terms of titles and revenues.

"We expect to see a recovery in display ads and gains in newspaper sales, while we will continue to rationalise costs and look for productivity gains," said Mr Supakorn.

Shareholders yesterday approved the reappointment of Siri Ganjarerndee, Worachai Bhicharnchitr, Chartsiri Sophonpanich and Kuok Khoon Ean to the Post board. Also approved was the appointment of four new directors: M.R. Pridiyathorn Devakula, Wissanu Krea-ngam, Pramoj Rathavinij and Eric Levin.

POST shares closed yesterday on the Stock Exchange of Thailand at 4.90 baht, up 40 satang, in thin trade.

[Benx]

wenn auch in Zukunft jemand diese Propagandafritzen lesen will, müssen sie sich schon mehr einfallen lassen. Gilt fast noch mehr für die Nation Group.

[ThaiClaus]

CPF expecting 20% growth
Substantial net profit and sales gains in Q1
Published: 13/05/2010 at 12:00 AM
Newspaper section: Business

Charoen Pokphand Foods Plc (CPF) has raised its sales and profit forecast after its operating results surged in the first quarter, brightening growth prospects for the second and third quarters.

The listed flagship of the Charoen Pokphand Group, the country's largest agribusiness conglomerate, now expects its profit to rise by about 20% to a record high of about 12 billion baht this year.

It said the results would be propelled by higher margins, better cost controls, rising sales and greater income distribution from affiliates such as CP All Plc, the operator of 7-Eleven convenience stores, in which CPF holds 27%.

The company reported record net profit of 10.19 billion baht for 2009, up by 226% from the previous year, with sales revenue up by 6% to 165.06 billion baht.

This year's sales are forecast to rise by 20% to about 198.07 billion baht, beating an earlier forecast of 10% growth from 165.06 billion baht in 2009.

CPF yesterday reported its first-quarter net profit had soared by 318% year-on-year to 3.224 billion baht - beating analysts' forecasts of about 2.7 billion to 2.9 billion baht - with total sales increasing by 25% to 43.61 billion baht.

Higher sales were driven largely by overseas operations - especially in Turkey, India, Malaysia and Taiwan - and rising domestic meat prices due to lower livestock production due to hot weather. More importantly, the company gained its stocks of raw materials at relatively low prices last year.

Adirek Sripratak, the company's CEO and president, forecast the performance in the second and third quarters would top the first quarter's because it will be the high season for exports and shrimp sales.

Thailand's political turmoil and the Greek debt crisis are expected to slightly affect the company's performance in the next two quarters and over the full year.

CPF exports shrimp and cooked chicken worth about 7 billion to 8 billion baht to Europe, where Mr Adirek described the impact of Greece's financial problems as insignificant for the company's overall sales.

"Spending on food by European consumers is unlikely to be affected, as food remains the most essential item and will be among the last expenditures consumers choose to cut," he said.

Domestic meat prices are expected to remain at very favourable levels, while the aquaculture business - particularly for shrimp - should record impressive growth thanks to more efficient production and low supplies from key producing countries such as Indonesia, China and Ecuador.

If Japan and the European Union resume importing frozen chicken from Thailand, after the bird flu epidemic ban since 2004, Mr Adirek said CPF also stands to gain in terms of higher exports and more favourable domestic broiler prices.

"If we earn quarterly net profit of roughly 3.2 billion baht, we are likely to achieve 12 billion baht in net profit at the year-end, 20% higher than 10.19 billion baht in 2009," said Mr Adirek. "The projection comes despite anticipated inactive seasonal sales in the final quarter."

CPF shares closed yesterday on the SET at 18 baht, down 30 satang, in trade worth 1.6 billion baht

[ThaiClaus]

Sansiri deal sets land price record

* Published: 3/06/2010 at 12:00 AM
* Newspaper section: Business

The developer Sansiri Plc has paid a record price of 1.5 million baht per square wah (four square metres) for a land plot on Wireless Road, said Patima Jeerapaet, managing director of the property consultant Colliers International Thailand.

Sansiri acquired the 823-square-wah plot, which used to house the Spanish embassy, in March.

The price surpassed the one million baht per square wah paid by Raimon Land Plc for a plot on Phloen Chit Road which it bought from Oishi Group founder Tan Passakornnatee.

Raimon surveyed and paid a deposit for the Wireless Road plot two years ago. The price then was 1.2 million baht a square wah, but the developer decided not to go through with the deal.

Mr Patima said that Suthat Na Ayudhya sold the plot to Sansiri for 1.23 billion baht. Condominiums developed on land this expensive could command 300,000 baht per square metre, he said.

Raimon has sold part of its nine-rai plot on Phloen Chit to Thai Summit Grand Estate Co, a property firm owned by Somporn Juangroongruangkit, the owner of the country's leading auto parts manufacturer Thai Summit Group.

Mr Patima said Thai Summit bought two rai for 1.32 billion baht, or 1.2 million baht per square wah, which was transferred on March 26 just before the expiry of property tax incentives.

Many land transactions took place during the political turbulence, reflecting the strong confidence of Thai investors he said. During the first five months of the year, there were 23 land transactions with a combined sales value of about 10.58 billion baht.

The largest deal was a 9.66-rai plot on Ratchadaphisek Road owned by the Stock Exchange of Thailand. The insurer AIA purchased the land for 1.6 billion baht at an auction last month. Mr Patima said the deal set a new benchmark of 480,000 baht a square wah for land on Ratchadapisek, up from 300,000 baht.

The second largest deal was the acquisition of Sermmitr Tower on Asok Road by an individual investor from a fund. The 34,000-sq-m office and condominium sold for 1.5 billion baht.

[ThaiClaus]

Centel halves 2010 growth forecast to 7%
Food business will be key driver

* Published: 7/06/2010 at 12:00 AM
* Newspaper section: Business

Central Plaza Hotel Plc (Centel) has revised down its revenue growth forecast for the year to 7%, to a total of 9.2 billion baht, from 15% due to the impact from recent Bangkok riots and fire damage at CentralWorld shopping mall.

The company's food business will be a key to growth this year even though 11 of its fast-food restaurants were destroyed in the attacks.

Food revenues remain solid with an average 7% to 8% growth in the first quarter, said Suthikiati Chirathivat, chairman of Centel's executive board.

For the hotel business, the Centara Grand at CentralWorld was not seriously damaged in the blaze. Physical damage was estimated at 20 million baht, with revenue losses of 150 million due to the 10-week anti-government protest.

Business opportunity loss for the whole year will reach 800 million baht. But the company expects hotel management revenues will help offset losses from political unrest. It projects hotel management fees will increase to 100 million baht this year, from 57 million last year.

Centel said it would add at least 15 new hotels to its management portfolio this year.

Centara Grand at CentralWorld reopened on June 1 with occupancy just 7%, or 35 rooms, down from 80% in the first two months of the year. However, forward bookings are starting to revive.

"My children, grandchildren, and I cried when we knew that CentralWorld was burned down," said Mr Suthikiati.

"We don't understand why they set fire to our property. Fortunately, our hotel and some shopping areas remain safe. This is the most serious damage we have ever faced."

Gerd Steeb, president of Centara Hotels & Resorts, said the local political turmoil had not only affected Bangkok but also tourism in provincial areas because many countries are maintaining travel advisories for Thailand.

"We hope the industry will start to recover in the last quarter of this year and come completely back on track next year," he said.

Foreign tourists lost confidence in Thailand because the government could not handle the local political conflict, he said. So, the government must work closely with Thai embassies to improve the image of Thai tourism.

Centel has launched aggressive promotions for the domestic market, such as the "Reopening Today" campaign at Centara Grand at CentralWorld which includes a room, breakfast and a bottle of Champagne for 2,555 baht.

Mr Suthikiati called on the government to subsidise private-sector marketing promotion budgets. Familiarisation trips should be arranged for international media to communicate that Thailand has returned to normal, he said.

CENTEL shares closed on Friday on the Stock Exchange of Thailand at 3.98 baht, up 12 satang, in trade worth 20.54 million baht.

[ThaiClaus]

KCE aims to boost Japan sales
Published: 7/06/2010 at 12:00 AM
Newspaper section: Business

Set-listed KCE Electronics, a custom printed circuit board manufacturer, may pursue more sales in Japan to lessen the impact of the European debt crisis, says director Panja Senadisai.

Europe currently accounts for 60% of KCE's sales.

Second-quarter sales should outstrip the 1.86 billion baht achieved in the first quarter due to increased orders over the past two months, said Mr Panja, who is optimistic about the recovery in the automotive market.

"We have had continued orders from the auto-parts sector which has made a significant recovery," he said. "This year we have received orders from two new large Japanese customers in the electrical goods sector."

The company opened a new production plant under the KCE International (KCEI) brand at the start of the year. Since March it has been producing about 37,160 square metres of PCB a month, more than 90% of total capacity, compared with 25% in January, said Mr Panja.

The company has no plans to further increase production capacity at present as KCEI can fulfil all orders for the year. But plans for additional capacity might be reconsidered at the year-end.

"This year we expect total sales to reach US$240 million, which would be a 20-25% increase from last year's $187 million. We have seen a continuous increase in orders up until the third quarter, especially from automotives which contribute more than 50% of our revenue," said Mr Panja.

The company - which says it is a top-three producer of electronic auto parts for airbags and anti-lock braking systems - also produces PCB products used in a wide variety of applications including automotive, industrial, computer and telecom systems.

Jitra Amornthum, executive vice-president for research at Finansia Syrus Securities, said KCE's profit this year should increase by between 200% and 255% from 172 million baht last year. Second-quarter profit should be better than in the first, when it suffered from a shortage of raw materials, she said.

While KCE's European sales account for 60% of its turnover, the company should not see any significant problems from the Eurozone debt crisis as most of its customers are large auto companies, she said. KCE also has a large number of orders up until mid-year.

KCE shares closed on Friday on the SET at 7.30 baht, up five satang, in trade worth 57.19 million baht.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH


BGH maintains growth target
Turmoil affected Q2 performance

Bangkok Dusit Medical Services (BGH), Thailand's largest private hospital chain, is maintaining its revenue growth forecast of 7-9% this year despite a reduction in customers in the second quarter, said executive vice president John Lee Kohshun.

"When we did the budget this year there were two things that were uncertain. First was the economy, which was better than expected. The second was the political turmoil. So things were better and worse than expected, which balanced everything out," said Mr Lee.

Although foreign customers in April and May declined by more than 10%, the figures have been improving for June, he said.

"Compared to May last year, we are seeing growth this month," said Mr Lee.

The company last year reported revenue of 22.18 billion baht, with net profit of 1.73 billion baht. Mr Lee also expects profit growth of around 7-8% this year.

First-quarter revenue totalled 6.11 billion baht, up from 5.39 billion in the same period last year, while profit rose to 777.15 million baht from 456.8 million.

"Our first-quarter revenue was better than our target, and although the second quarter is lower [than our target], I believe that this year will be a recovery time where people will be focusing on their health, because every time a crisis occurs we are concerned with the crisis more than our health," said Mr Lee.

Foreign patients account for more than 30% of BGH's total patients and 40% of its revenue.

"Now the most important thing is communication. We have sent e-mails to customers in order to increase confidence [about political conditions] and to ensure them that it is not a large problem," he said.

However, the company avoids risks by not focusing too much on foreign patients, keeping the range to 30-40%.

Bangkok Dusit operates 19 hospitals including the Bangkok Hospital, Samitivej and BNH chains, with a total of more than 3,000 beds.

BGH is also moving toward aggressive promotional campaigns for the whole group.

"The trend in the future is a positive one for health care. So we are not waiting for our patients to become patients; we need to treat them before they become patients,"aid Mr Lee.

"Prevention is a worldwide trend. From now on health checkups will be a part of people's lives, not a necessity."

BGH shares closed yesterday on the Stock Exchange of Thailand at 26.25 baht, up 50 satang, in trade worth 20.11 million baht.









---------------------------------------------------------

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP

Progress on SCIB merger

Thanachart Bank expects to complete the acquisition of Siam City Bank by 2011, according to TBank senior executive vice-president Somjate Moosirilert.

TBank completed a tender offer for Siam City Bank earlier this month, and now controls 99.24% in the bank. An integration plan between the two banks will be submitted to bank regulators by the end of the year, with the merger completed by 2011.

Thanachart Bank, 49% held by Bank of Nova Scotia and 51% by Thanachart Capital, bought a 47.58% stake in Siam City Bank from the central bank's Financial Institutions Development Fund in March. TBank submitted a tender for all outstanding SCIB shares at the same deal price of 32.50 baht per share, and now plans to delist SCIB from the Stock Exchange of Thailand.

Mr Somjate said SCIB's accounting results would be consolidated with those of TBank from June, which would push results up sharply from the second half of the year and in 2011.

The merger will create Thailand's fifth-largest bank, with assets of more than 800 billion baht and a network of 677 branches nationwide.

Mr Somjate said that experts from Scotiabank was helping review products and services offered by both TBank and SCIB to help with the integration plan.

Subsidiary companies will also be integrated once the bank merger is complete, covering the asset management, securities brokerage and insurance units of both entities.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu

Banpu eyes takeover of Australia's Centennial
Published: 6/07/2010 at 12:00 AM
Newspaper section: Business

Banpu Plc, Asean's biggest coal producer, is preparing to take over Australia's Centennial Coal in a deal worth A$2 billion (54.47 billion baht), the biggest overseas deal by a Thai company.

Somruedi Chaimongkol, chief financial officer at Banpu, said the deal was a big step in its strategy to extend its investment in the three most significant countries in the coal industry.

"Centennial is the leader in thermal coal mining in Australia. It operates 15 million tonnes of production per year from three mines across the country," said Ms Somruedi.

Australia is the world's biggest coal exporter, followed by China and Indonesia.

"It is part of our long-term strategy to make a presence in these three countries," she said. "The return on investment is also clear, as we have plans to raise coal prices soon, while Centennial has a lot of output."

Banpu has agreed to pay A$6.20 a share, 40% more than Centennial's closing price of A$4.42 last Friday. It intends to acquire at least 50% of the shares of the Sydney-based company, including an existing stake of 19.9%.

Achieving its minimum holding target of 50.1% will require about A$1.2 billion, while buying up all the shares would cost A$2 billion.

"Our off-market takeover of Centennial should be completed within the fourth quarter. Feedback [from the market] is pretty good. I think we have a potential to make it," said Ms Somruedi.

The company is preparing to source 20% of the cost from cash from its operations, and the rest will come from overseas loans that are now being negotiated. Banpu's operations bring in cash of US$600-800 million yearly.

Once the deal closes, the company's debt-to-equity ratio will rise to higher than 1.3, from just 0.2 now, but that will gradually decline.

Banpu needs approval for the deal from Australia's foreign investment review board, expected in one month, and from its shareholders.

Buying Centennial gives Banpu control of 10 mines in Australia, the world's biggest coal exporter, and power station customers in Japan and Europe. Centennial plans to open two more mines soon that will increase Banpu's return on investment, said Ms Somruedi.

She denied analysts' earlier comments that the deal was triggered by Australia's decision last week to cut a new tax on mine profits from 40% to 30% after miners claimed it would cripple new investment.

Banpu's offer is priced at 11.16 times Centennial's earnings before interest, tax, depreciation and amortisation. That's almost double the 6.77 times EBITDA that Yanzhou Coal Mining Co paid when it won Australian government approval for its A$3.5-billion takeover of Felix Resources Ltd last year.

Coal prices have been rising this year in line with demand in Asia, climbing above $100 a tonne for the first time in May.

Banpu shares closed yesterday on the Stock Exchange of Thailand at 614 baht, up 12 baht, in trade worth 916 million baht.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010



CPF boosted by domestic meat price outlook

Published on July 13, 2010

Charoen Pokphand Foods sees a continued rosy outlook for its food business thanks to strong meat prices, senior vice president Kobboon Srichai said last week.

Representing CPF at DBS Vickers Securities' "Pulse of Asia Conference" in Singapore, he also briefed investors on CPF's plan to focus on growing the food business and expanding its overseas operations.


At the forum, he said the per¬sistent Thai drought was still pressuring meat productivity and supply, and supporting strong domestic prices, especially for swine, the supply of which is dominated by small, lowproductivity producers.


As these small producers' access to capital is limited, they are prevented from increasing supply.


Swine prices continued to rise in June to Bt62 per kilogram, up 9 per cent year to date.

Meanwhile, shrimp volume increased, led by improved demand and productivity, while strong prices should also drive earnings growth, said Kobboon.


DBS expects CPF's performance in the second and third quarters to be stronger than in the first three months, given wider margins from higher product prices and stronger volumes due to the peak export season.


Despite the shareprice rally since mid2009, CPF remains attractive for its defensive quality, promising growth prospects and strong operations, said the securities house.


In another development, CP Pokphand, a sister company in the Charoen Pokphand Group, will witness a shareholding change after US buyout firm Carlyle Group takes an 11.3per cent stake in the unit, one of China's largest livestock and aqua feed producers, which is listed in Hong Kong.


The USbased investment behemoth will pay US$175 million (Bt5.66 billion) for 2.3 billion convertible preference shares representing an 11.3percent stake from CP Group.


According to Finance Asia magazine, the acquisition follows Carlyle's purchase of a 13.62per cent stake in Singaporelisted China Fishery Group for $190 million in June, and a 17.3percent stake in Guangdong Yashili Grou, one of China's biggest infantformula companies, last September.


"We believe that China's feed industry, driven by the change in demographics and government policies, is at a point where the industry will be more stable, and in turn, will favour the responsible, experienced and leading producers such as CPP," Patrick Siewert, senior director of Carlyle, said in a joint statement with CP Group.


Carlyle is a global alternativeasset manager with $90.5 billion of assets under management committed to 67 funds as of March 31.


After the transaction is completed, Carlyle will be invited to designate a person to sit on the board.

[Welju_Grouv]

July 12, 2010 (The Nation)
President plans premium instant noodles for export markets
President Interfood, the export arm of Thai President Foods, which manufactures Mama instant noodles, plans to launch a premium instant-noodle brand meant solely for the export market. The company revealed that its export revenue had weakened by 10 per cent in the first half of this year due to the appreciation of the baht, which now stands at Bt32 against the US dollar. Pojjana Paniangvait, managing director of President Interfood, said the company was studying the feasibility of developing a new premium instant-noodle brand for export to developed markets such as the United Kingdom and Canada. The premium brand has been priced at about 50 cents (Bt16.17) for supermarket shelves in the US - which is twice the price of Mama products. The new brand will be aimed at healthy eaters, and feature low fat and salt content as well as no monosodium glutamate. Pojjana said the company had posted a 2-per-cent increase in export sales in the first five months of this year despite the global recession. "We want to maintain our export proportion at 18 to 20 per cent of our total sales, and have set our export-growth target at a minimum of 10 per cent per annum," she said. However, she said, that owing to the stronger baht - which has appreciated from Bt35 against the US dollar to about Bt32 - the company does not expect to meet its 10-per-cent growth target this year. President Interfood currently supplies Mama instant noodles to 50 markets around the world. "Earlier this year, we started exporting to many new markets, including Madagascar, Peru and United Arab Emirates," Pojjana said. She added that the export of its instant noodles had shown a 2 to 3-per-cent growth in some major markets such as the US, in comparison to the flat growth of other export products. "We discovered that due to the US recession, consumers are opting for instant noodles in order to cut down on their cost of living," she said.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI

Sansiri lifts revenue target to B20bn due to demand
Published: 20/07/2010 at 12:00 AM
Newspaper section: Business

The listed developer Sansiri Plc has increased this year's revenue forecast to 20 billion baht, from 18 billion baht projected earlier, thanks to strong demand and the improving economy.

President Srettha Thavisin said the company would also lift its full-year presales target, currently set at 22 billion baht, but had not yet settled on a final figure. First-half presales achieved the target of 10 billion baht.

The property market is expected to enjoy a bright second half, driven by strong demand, improved purchasing power and the end of political unrest.

The expiration of the property tax incentives last month is not expected to dent market sentiment, as evidenced by Sansiri's healthy sales of 1.2 billion baht in the brief time since they expired, said Mr Srettha.

"The recent rise in the key interest rate may slightly deter purchasing power, but the higher rate is still small while demand is still growing strong," he said.

Last week, the central bank raised the key interest rate from 1.25% to 1.5%. As the rate is not expected to increase more than 75 basis points this year, the property market should not feel much of an effect.

A basis point is one hundredth of a percent.

"Two important factors will determine the market in the second half. One is purchasing power, which will be supported by the economic recovery," Mr Srettha said.

"The other is buyer sentiment, which is quite a variable factor, one that depends largely on the political situation."

Sansiri expects its third-quarter sales to reach 5.6 billion baht, supported by a promotional campaign in collaboration with Siam Commercial Bank.

The company may raise its prices by 5-10% next month due to high demand and construction costs.

Sansiri plans 26 projects worth a combined 38.5 billion baht this year. It introduced five projects in the first half and will launch another 21 worth 32 billion baht - 10 condominiums (17.6 billion baht), eight single-detached house projects (11.7 billion) and three townhouse projects (2.7 billion).

It will also start sales of its residential project in London at year-end.

The company plans to really target the lower end of the market for townhouses and condominiums, with starting prices of 1 million baht.

Sansiri has asked the Board of Investment for tax incentives for its 900 condo units under the D Condo brand near the Airport Rail Link.

Sansiri shares (SIRI) closed yesterday on the Stock Exchange of Thailand at 6.05 baht, up by 20 satang, in trade worth 197 million baht.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO


Banks report robust earnings

Published on July 20, 2010

Commercial banks yesterday reported stronger-than-expected earnings, thanks to a continued increase in loan growth amid a low provisioning requirement.
Bank of Thailand senior director Salinee Wangtal attributed the impressive quarterly results to commercial banks' strengths. The net profits grew on higher loans to individual borrowers and lower provisioning due to good loan quality.

Kasikornbank, the country's third-largest commercial bank, showed consolidated second-quarter net profit of Bt4.76 billion, up 9.15 per cent from the previous quarter and 28.58 per cent from the same period last year. First-half earnings reached Bt9.13 billion, up 21.63 per cent from 2009, when net profit was only Bt7.5 billion.


In a statement, the bank said non-interest income continued to rise in line with its customer-centric business strategy. Non-interest income in the second quarter rose Bt1.4 billion from the previous quarter, or 10.55 per cent, thanks partly to bancassurance business. Net interest margin (NIM) in the quarter stood at 3.78 percentage points, against 3.66 percentage points in the previous quarter. Non-performing loans dropped to 3.19 per cent, from 3.51 per cent in the previous quarter.


Siam City Bank's first-half net profit also rose 24 per cent to Bt2.295 billion. Kiatnakin Bank's quarterly earnings rose 26 per cent year on year to Bt765.30 million. It attributed the increase to a 36.2-per-cent rise in net interest and dividend income, while loans expanded 5.9 per cent and spread widened to 5.5 percentage points. Tisco Financial Group recorded net profit of Bt1.47 billion in the first six months of this year, soaring 54.3 per cent compared with the same period last year.


The higher net profit came from rising revenue from interest and dividends, which increased by 29.6 per cent, and the high loan spread of 5.3 percentage points compared with 4.5 in the same period last year. Non-interest revenue was Bt1.80 billion, up by 44.9 per cent year on year.


Oranuch Apisaksirikul, group chief executive officer of Tisco, sees the possibility of raising its loan growth this year beyond 15 per cent, after the 13 per cent increase in the first half, thanks to the economic recovery, which pushes up car financing. That sector now accounts for 75 per cent of Tisco's total loan portfolio, reflecting an increase in the automotive loan sector in line with the improvement of the economy.


Tisco's total loan portfolio at the end of the second quarter was Bt128 billion, up by 8.6 per cent quarter on quarter and 13 per cent year to date. General loan business totalled Bt97.87 billion, up by Bt5.098 billion or 5.5 per cent quarter on quarter. New car-financing business volume approved in the second quarter to Bt14.11 billion, up by Bt3.65 billion or 34.9 per cent over the same period last year.


Oranuch said the company forecasts its automotive loans this year will meet its target under the estimated domestic car sales of 700,000 units. Sales for the first six months were about 350,000 units, and Tisco expects car financing this year to grow by 15-17 per cent. However, this business will get more furious with competition as well, she added.


She said that even though a hike in interest rates will affect Tisco's NIM by 0.35 percentage points from the current 4.6 points, Tisco was not concerned much because its NIM is strong.


Oranuch said Tisco planned to increase interest rates in line with the industry outlook, adding that the rate increases would wait on major hire-purchase operators. Tisco will not lead the rate hike, but according to some operators, the car-financing interest rate is expected to increase by 0.10-0.20 percentage points in line with the market.


She said the group was not concerned with non-performing loans, which were only 2 per cent of outstanding loans.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN


Strong condo market drives rise in LPN land purchase budget

Published on July 20, 2010

LPN Development plans to increase its budget for purchasing undeveloped land by 50 per cent, to Bt3 billion from Bt2 billion, because of strong demand in the condominium market, managing director Opas Sripayak told a press conference yesterday.

The increased investment budget will come from the company's cash flow.

"We have already spent Bt1.7 billion in the first half of this year, and as a result we have to increase our budget to buy land for condominium projects in the last quarter of this year and into next year," he said.

LPN Development is also increasing its presale target from Bt13 billion by the end of this year to Bt15 billion, as it has already achieved newcondominium sales worth Bt10.6 billion in the first seven months of this year, and a further Bt5 billion will come from its new project Lumpini Place Rama 3River View, which is to launch in September. The company also plans to launch another new Lumpini Condo Town worth Bt1 billion in the last quarter of this year, he said.

However, the company has maintained its total revenue estimate of Bt9.6 billion, up 12.9 per cent from Bt8.5 billion last year.

The company recorded total revenue of Bt1.5 billion and net profit of Bt270.9 million in the first quarter of this year.

Meanwhile, LPN Development has transferred two condominium projects, originally booked for the second half of this year, to the second quarter. They are worth a total of Bt3.16 billion - Bt310 million from Lumpini View Bang Kae and Bt2.85 billion from Lumpini Place Rama 9 phase 1. The company's accounting system follows the new Stock Exchange of Thailand accounting standard, which books the company's revenue when transferring the projects to its customers.

The company plans to issue a debenture of Bt2.5 billion next year as approved by shareholders in April.

Opas said demand for condominiums had continued growth because of buyers wanting to locate their residences close to their workplace as oil prices rose.

"We don't think the condominium market faces a bubble, because 80 per cent of buyers now buy them as residences, while the other 20 per cent buy for investments," he said.

He added that there are signs that interest rates will rise in the second half of this year, and if the rate rises 1 percentage point, homebuyers will increase their monthly instalment between Bt500 and Bt600 on a principal of Bt1 million.

"We think this will speed customers' decision to buy because they need to save on their costs," he said.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP

BBL leads solid Q2 performance by banks

Published on July 21, 2010

Bangkok Bank (BBL) led financial institutions in reporting a sharp hike in quarterly net profit, with earnings of Bt6.9 billion, up 40.4 per cent from Bt4.86 billion year on year, and up Bt793 million, or 13.1 per cent from the previous quarter.

The results reflected a slight increase in net interest margin from 2.9 per cent in the first quarter to 3 per cent, as well as a 2.6 per cent increase in net interest income on year.


BBL president Chartsiri Sophonpanich was satisfied with the result and expected the positive outlook, as the Thai economy is showing signs of improvement with the export sector continuing to be the main driver of the economic recovery.


"In the previous quarter, the bank was able to achieve its goals in four main areas: loan expansion, fees and service-income growth, high liquidity, and strong capital position," he said.


BBL saw its loan portfolio grow 2.3 per cent from the first quarter and 2.6 per cent year-to-date. Deposits rose 1.1 per cent from the previous quarter, and were stable year-to-date. The loan-to-deposit ratio increased from 85.5 per cent at the end of the previous quarter to 86.5 per cent.


The outstanding earnings saw its stock price yesterday leap to Bt132.50 from Bt129.50.


Krung Thai Bank (KTB), the second largest bank, reported second quarter net profit of Bt3.37 billion, a 31 per cent rise from Bt2.57 billion over the same period last year. The higher earning came from higher interest income, the bank said in its statement yesterday.


Net interest and dividend income for the second quarter increased to Bt10.87 billion from Bt10.31 billion year on year, while non-interest income was up to Bt3.88 billion from 3.27 billion year on year.

TMB


TMB Bank, a mid-sized bank, showed impressive earnings in the second quarter of Bt886.08 million, soaring 125.4 per cent from Bt393.06 million year on year due to higher fee income and lower non-interest expenses.


The bank said in its statement that fees and service income increased to Bt1.14 billion, or 8.4 per cent from the second quarter last year, mainly from higher fee from credit-related transactions, ATM, cash management and payment.


Interest and dividend income was Bt4.43 billion, decreasing by Bt654 million or 12.8 per cent from the same quarter last year. Non-interest income was Bt1.82 billion, decreasing from Bt3.4 billion or 65.1 per cent from the same quarter last year.


TMB's NIM picked up slightly to 2.20 per cent from 2.17 per cent in the second quarter last year and 2.18 per cent in the first quarter of this year. The bank will today raise its fixed deposit rates by 0.20-0.50 of a percentage point and lending rates by 0.125 of a percentage point.


The bank has total assets of Bt540.50 billion, decreasing 0.6 per cent from Bt543.65 billion as of December 31, 2009. The decrease was mainly due to decrease in interbank and money market, short-term investment and loans


As of June 30, total loans were Bt349.95 million, declining 4.9 per cent from the end of last year. The decline was mainly due to NPL sales of Bt9.3 billion, repayments of corporate loans and active credit management.


With the growth in SMEs by three times, the bank's performing SME loans increased by 3.3 per cent from the last quarter.


However, this was offset by the repayment of short-term corporate loans which resulted in slight shortfall in loans overall on quarter.


Thanachart Capital's earnings in the second quarter soared to Bt1.36 billion from Bt743.80 million year on year due to the sales of investments in Siam City Bank to Thanachart Bank (TBank), a subsidiary company of TCAP.


TBank showed earnings in the second quarter of Bt1.96 billion, up 175 per cent compared to the same quarter last year. Siam City Bank posted earnings of Bt1.20 billion, increasing by 33 per cent year on year.


The Industrial and Commercial Bank of China (Thailand) had a second quarter consolidated net profit of Bt129.98 million, up from Bt108.30 million year on year.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading"
post 75 BLS
post 76 BJC

Proprietary trading grows in first half Brokers need to avoid conflicts
Published: 21/07/2010 at 12:00 AM
Newspaper section: Business

Proprietary trading by local brokers accounted for 13.8% of total trade on the Stock Exchange of Thailand in the first half of the year, outpacing the volume generated by local institutional investors.

According to Tisco Research and SET data, proprietary trading by brokers in the first half totalled 690 billion baht in total sell and buy orders. Brokers' portfolios had a net buy position of 644 million baht in local stocks for the first six months of the year.

In contrast, local institutional investors, which include funds and insurance firms, accounted for 7.6% of total market volume in the first half of the year, with a net sell position of 632 million baht.

Proprietary trading has emerged as a key revenue source for a number of brokers, despite concerns about possible conflicts of interest with clients. Local brokers insist their private brokerage arms are completely divided from client trading desks or investment banking operations.

"In a positive way, the rise of proprietary trading will help market liquidity as securities companies are ready to sell without waiting for target prices," notes Sombat Narawutthichai, the secretary-general of the Securities Analysts Association.

"But proprietary trades are typically done over short periods of time. According to the data, individual investors may be at a competitive disadvantage, especially day traders when dealing with the large market cap stocks that are on the radar screen of proprietary traders."

At the end of June, local individual investors reported 1.415 trillion baht worth of total buy transactions and 1.398 trillion baht in net sell transactions, with total volume accounting for 56.4% of total trades.

Foreign investors, who accounted for 22.2% of total trade, reported total buy transactions worth 545 billion baht and total sell transactions of 562 billion baht.

Considering the monthly figures, Mr Sombat said securities companies, or proprietary traders, reported the narrowest net trading gap each month throughout the first half of the year.

In March, foreign investors reported net buying of 44.6 billion baht. Local investors reported net selling of 38.3 billion baht. Local institutions reported net selling of 9.3 billion baht. But proprietary traders reported the smallest gap of 3.1 billion baht in net buying.

"In April, the total volume of proprietary trading was larger than local institutions. But the net position for the month was narrower," said Mr Sombat.

In May, local individual investors and institutional investors were net buyers of 48.1 billion baht and 10.75 billion baht respectively.

He said the role of proprietary trading in the market had changed significantly since 2007. Securities brokers accounted for just 4.8% of total market trade in 2006, rising to 7.5% in 2007, 10% in 2008 and 13.2% in 2009.

"Securities companies are looking at proprietary trading as one way to survive as the market liberalises. And some brokers have found that they are quite good in short-term trading.".

The securities sector will be liberalised starting in 2012, with commission fees made freely negotiable with clients.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC


BLS seeks top-3 status
Broker well prepared for liberalisation
Published: 22/07/2010 at 12:00 AM
Newspaper section: Business

Bualuang Securities aims to increase its market share to 5% within the end of the year, and break into the top-three ranking within the next three years.


The broker currently ranks fourth in the league tables with a market share of 4.8% of transaction volume on the Stock Exchange of Thailand.

BLS president Pichet Sithi-Amnuai said the company was well prepared for the liberalisation of the securities sector over the next several years.

Business strategy would continue to be to positioning the firm as a premium broker serving retail investors, local institutions and foreign investors.

BLS is restructuring its operations to help improve efficiency. Bannarong Pichyakorn has been named managing director for sales and trading business, with Vararatana Jutimitta named managing director for merchant banking.

It has also formed a product development team to help serve clients and advise on asset allocation, investment strategy and arbitrage opportunities.


Mr Vararatana said BLS has enjoyed a run of success in its investment banking operations over the past several years, with advisory mandates for Indorama Ventures and Bangkok Life Assurance, two of the largest listings on the SET in recent years.

He said the domestic IPO market would be weak over the next several months, due to sluggish market sentiment and political uncertainties.

But problems in the global economy would lead to growing opportunities for cash-rich Thai firms to acquire overseas assets and expand outside of Thailand, Mr Vararatana said.

Mr Bannarong said for the brokerage business, BLS would focus more on retail clients, a group expected to be less affected by the liberalisation of commission fees over the next several years.

The company would use its IT trading platform to target new investors among working professionals of large companies.


Mr Bannarong projected that the SET, up nearly 13% since the beginning of the year, would enter a bearish cycle, with the main index possibly sliding to under 800 points on profit-taking and worries about the European debt crisis.

But the index, which closed yesterday at 830.93 points, could reach 870 by the end of the year, he said.

Mr Pichet said BLS will expand to the private equity market next year to help boost its income stream. The company plans to focus 60% of its investments in Thailand and the rest overseas.

Each investment deal would be from $5 million to $50 million, with a 3-5 year investment horizon.

Mr Pichet said BLS also conducts arbitrage trading through the Thailand Futures Exchange, but takes positions for hedging and risk management purposes rather than for trading in itself. BLS has no plans to engage in proprietary trading, he added.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC

Berli Jucker keen to bid for Carrefour
Published: 22/07/2010 at 12:00 AM
Newspaper section: Business

Berli Jucker Plc is looking to bid for Carrefour's Thailand operations to help support its consumer products supply chain, according to BJC president Aswin Techajareonvikul.

BJC, 70% owned by Charoen Sirivadhanabhakdi's TCC Holding, has expanded rapidly in recent years through mergers and acquisitions. The company operates five core businesses: industrial supply chain, consumer goods, health care, technical services and international businesses.

"We are considering the [Carrefour] bid. It would certainly fit in with one of our current businesses, the consumer supply chain. Retailing is part of that supply chain," said Mr Aswin.

"Right now, we have a presence in the upstream side, such as potato farms for our potato chips, or cold-storage facilities. But what we lack is downstream, namely a distribution channel to consumers."

BJC, one of the country's oldest firms at 128 years, produces and distributes thousands of products, including Tasto chips, Cellox facial tissues and Dozo and Campus snacks.

"[Retail] would be a new business. We would be newcomers and would have a lot to learn. But there is the potential to create long-term value for our company," said Mr Aswin.

He said BJC had contacted Carrefour about its interest, and was waiting for more details about the bidding process and timetable.

"Right now, the whole thing still is uncertain. There's a 50-50 possibility of winning," said Mr Aswin.

Carrefour earlier this month announced it may divest its operations in Malaysia, Singapore and Thailand in order to refocus on its core markets.

In Thailand, Carrefour operates 40 stores, including 39 hypermarkets. Besides BJC, other potential buyers are reported to include the retailers Tesco Lotus and Big C, as well as other regional retailers and private equity investors. Carrefour's sales in Thailand last year were estimated at $800 million.

Mr Aswin said BJC was studying whether it would submit a bid for only the Thai branches or look to bid for Carrefour's Singapore and Malaysian operations as well. The French retailer operates two stores in Singapore and 19 in Malaysia.

Analysts estimate that the Thai assets could be sold for 15 to 20 billion baht. Mr Aswin said BJC had a number of possible financing options for the deal, including a capital increase, bond issues or a bank loan.

A successful bid would nearly double the size of the company. BJC posted first-quarter profits of 515 million baht on revenues of 6.17 billion, and assets as of March stood at 22.8 billion baht. The company reported 2009 profits of 1.26 billion baht on revenues of 23 billion.

Mr Aswin noted that historical EBITDA (earnings before interest, taxes, depreciation and amortisation) was around 3-4 billion baht per year. For 2010, the company is targeting 10% revenue growth.

BJC, which this week completed the acquisition of Malaya Glass Products in Malaysia, is now the largest manufacturer and marketer of glass packaging in the region, with five manufacturing plants in Thailand, Vietnam and Malaysia and a combined production capacity of 3,300 tonnes per day.

The Malaya Glass acquisition was done through BJC O-I Glass, a 50-50 joint venture between BJC and Owens-Illinois, the world's largest glass packaging manufacturer.

The company is also in the process of concluding an acquisition of a trading company in Vietnam, is working on setting up a tissue paper manufacturing plant and considering investing in the Vietnamese snack business.

He said the company would continue to look for acquisition opportunities that offered an internal rate of return of 10% or more over funding costs and synergies with the firm's existing operations.

BJC shares closed yesterday on the SET at 18.10 baht, up 30 satang, in trade worth 377 million baht.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT

AUTOMOBILES
Somboon plans B3.5bn investment to expand capacities
Published: 27/07/2010 at 12:00 AM
Newspaper section: Business

The SET-listed auto-parts maker Somboon Advance Technology (SAT) is planning to invest 3.5 billion baht to expand its production over the next three years to serve expected high growth of the automotive industry.

Executive vice-president Yongkiat Kitaphanich said a new casting factory worth 1.2 billion baht will be built in Rayong. The construction of the group's third casting factory is due to start later this year and complete by mid-2011.

The remaining 2.3 billion baht will be used to expand the capacity of SAT's existing operations such as a machining plant in Rayong by 30%. The agriculture machinery business with Kubota will also be expanded, he added.

Currently, four companies under Somboon Group operate nine factories in Rayong and Samut Prakan, employing 2,200 in total, he added.

"We are expanding the production to serve growing orders and the expected continuous growth of the automotive industry," he said.

More than 20 new models of both pick-up trucks and passenger cars including eco-cars are scheduled to be launched through 2015, said Mr Yongkiat, also the president of the Automotive Parts Industry Club at the Federation of Thai Industries (FTI).

Somboon supplies coil spring to Nissan March, Thailand's first eco-car, and has been awarded by Honda to manufacture brake discs and drums to its eco-car to be launched next year.

The company has been in talks with Toyota, Suzuki and Mitsubishi to supply products for their eco-car production.

This year, SAT targets to increase its revenue to 6 billion baht from 4.35 billion baht last year, which was down from 5.95 billion baht in 2008.

Thanks to a global economic rebound, as well as recovering vehicle sales and exports, SAT's sales soared 61% year-on-year to 1.5 billion baht in the first quarter as net profit jumped 700% to 203 million baht.

Shares of SAT closed on Friday on the SET at 21 baht, up 90 satang, in trade worth 51.99 million baht.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT

Thai Union buys MW Brands
Published: 28/07/2010 at 12:31 PM
Online news: Breakingnews

Thai Union Frozen Plc has purchased French canned seafood firm MW Brands Holdings SAS in a deal worth 28.5 billion baht (680 million euros), the Thai Union board announced on Wednesday.

Thailand's major canned and frozen seafood business bought the entire 31,367,000 shares of MW Brands together with a maximum number of 417,517 additional shares to be issued upon exercise of stock-option granted by the French company. Thai Union will also be required to repay MW Brands' long term debt and shareholders’ debt.

The acquisition is funded through loans from international banks worth 340 million euros. The banks comprise Credit Agricole-CIB, Mizuho Corporate Bank Ltd, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation. The first tranche is a six-year loan, covering 140 million euros and another tranche is a seven-year EUR200 million loan.

The company has also taken loans worth 15 billion baht from Bangkok Bank, Siam Commercial Bank and Kasikornbank. They are divided into a six-year Bt6 billion loan and an eight-year Bt9 billion loan.

Thai Union will raise its authorised share capital to one billion baht, up by Bt116,829,050, for private placement of a maximum EUR 60 million of convertible debentures.

The company said acquiring MW Brands will increase its production base and exports to Europe, while the premium quality of MW Brands' products will raise its gross profit margin.

-----------------------------------------------------------------------------------------

Minor plans franchises
Published: 28/07/2010 at 12:00 AM
Newspaper section: Business

Minor Food Group, the local operator of Dairy Queen ice-cream shops, plans to double its sales and the number of outlets by 2014 by expanding its business on a franchise basis for the first time here.

Choompot Tantisoonthorn, vice-president and group general manager, said Dairy Queen sales would reach 2 billion baht in 2014 when outlets double to 450. Last year sales hit 1 billion baht.

To achieve its goal, the food unit of Minor International (MINT) will expand Dairy Queen outlets on its own in the Greater Bangkok area, but new outlets upcountry will be opened through a franchise system. Existing outlets in the provinces will also be converted to franchises, starting with Hat Yai in mid-August. Executive franchisees in some provinces will get the rights to run franchised shops in their areas.

"Sub-licence investors have the potential to expand Dairy Queen stores in their own territories under an exclusive agreement," said Mr Choompot.

He said each sub-licence investor would be awarded a 10-year contract and be required to invest approximately 1.8 million baht to open each Dairy Queen outlet, with no entrance fee. Investors have to pay a 5% loyalty fee and 6% marketing fee to MINT.

"Expansion under the franchise or sub-licence system will help us speed up Dairy Queen's growth," he said.

Sales of Dairy Queen grew by 15-16 % in the first seven months of this year.

Minor Food Group currently operates 233 Dairy Queen outlets, with 105 in Greater Bangkok. Of the expected 450 outlets in 2014, about 300 will be franchised.

MFG has also been awarded the rights from Dairy Queen's parent in the US to open shops in Cambodia, with the first outlet already open at the national airport. It is negotiating to open outlets in other Southeast Asian nations.

MINT shares closed yesterday on the SET at 11 baht, up 10 satang, in trade worth 108 million baht.

[ThaiClaus]

Antwort auf Beitrag Nr.: 39.886.959 von ThaiClaus am 28.07.10 08:28:22

Thai tuna firm TUF hooks big one with MW Brands buy

* Buying John West owner MW Brands for $884 mln

* Says to become the world's biggest seafood firm

* Sales from European units will now make up third of total

* Funding for the acquisition comes from euro and baht loans

* TUF shares fall as much as 5 pct in flat market

(adds banks, losing bidders, detail on food M&A, Trilantic)

By Arada Kultawanich

BANGKOK, July 28 (Reuters) - Thai Union Frozen Products PCL (TUF) (TUF.BK), the owner of the "Chicken of the Sea" canned tuna brand, said on Wednesday it would buy MW Brands Holdings SAS for $884 million to become the world's biggest seafood firm.

TUF is already the world's largest canned tuna maker, while France-based MW has brands such as canned fish producer John West and canned tuna producer Petit Navire.

"MWB's strong European footprint will provide us with further business opportunities in the future through a strong customer base, distribution and brand leadership," TUF President Thiraphong Chansiri said.

MW was formerly part of HJ Heinz Co (HNZ.N) and is being sold by Trilantic Capital Partners, the former private-equity arm of Lehman Brothers, which bought MW in 2006.

TUF beat other potential buyers including private equity firm Blackstone (BX.N) and privately held strategic rival Bolton Alimentari, people familiar with the matter said.

TUF's investment, Thailand's second-largest overseas deal, will boost its tuna processing capacity to 500,000 tonnes per year.

Shares in TUF dropped nearly 5 percent at one stage to 45.50 baht due to worries about its debt-to-equity ratio rising to fund the deal.

"With the deal being done through borrowing, this should bump up its (debt to equity) to 2.2-2.3 times in the short term," said Finansia Syrus Securities analyst Jitra Amornthum.

However, Jitra added: "We see positive factors coming in from marketing. The move should help strengthen TUF's horizontal expansion by diversifying its customer base into Europe."

At the midsession break, TUF shares were down 3.1 percent at 46.25 baht, while the main Thai index .SETI was flat.


LOANS

The 680 million euro deal follows the $2 billion purchase this month of Australia's Centennial Coal (CEY.AX) by Banpu (BANP.BK), Thailand's biggest ever overseas acquisition.

It also marks the latest spot of dealmaking in the food industry, following frozen-food deals in Italy and France worth more than $1 billion each, and news that Blackstone is considering a $3 billion-plus sale of Britain's United Biscuits. [ID:nLDE66P0T1] [ID:nLDE66I0KH [ID:nLDE66K18C]

The deal will add four processing plants in France, Portugal, the Seychelles and Ghana to TUF's five processing facilities in Thailand, Indonesia, Vietnam and the United States. Its fishing fleet will more than double to nine vessels from four.

The deal would increase Europe's contribution to TUF's sales to more than a third from 11 percent, the company said.

MW brands, which has operations in several European countries including Britain and Italy, had sales of 448 million euros ($582 million) and total assets of 559 million euros in its business year that ended in March.

TUF posted sales of 68.9 billion baht ($2.14 billion) with a net profit of 3.3 billion baht in 2009. Tuna products accounted for 44 percent of its sales.

The Chicken of the Sea name has been around since the 1900s. Albacore tuna used to be known as chicken of the sea because its pale colour and mild flavour reminded fishermen of chicken.

Morgan Stanley and Bualuang Securities advised TUF, while UBS advised Trilantic.

Financing for the acquisition has been fully secured, TUF said, with 340 million in euros in loans from international banks and a further 15 billion baht from Thai banks.

TUF also said it would issue convertible bonds worth up to 60 million euros for a private placement plus 116.83 million new shares for conversion.

The convertible bonds would have a maturity of four years with a coupon of 5 percent and an overall yield of 8 percent if not converted into common shares, it said, adding the conversion price was 46 baht a share.

($1=32.20 Baht=.7694 Euro)

.....Trilantic kaufte MW von Heinz, für €425m Schulden incl. in 2006. Nun der Verkauf um €680m an TUF... MW hat in der Zwischenzeit die Schulden um €240m abgebaut -> Trilantic hat sein eingesetztes Kapital von €200m in 2006 mehr als verdreifacht.....

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF



Q2 GDP could hit 8%

Published on July 30, 2010

The Finance Ministry is expecting the second-quarter economy to chalk up growth of at least 8 per cent on robust exports and a strong recovery in domestic consumption and tourism.



Sathit Rangkasiri, director-general of the Fiscal Policy Office, said yesterday that economic indicators in June showed continued improvement. While exports were up in all categories, domestic consumption and private investment also advanced, which resulted in tax collections rising from the previous month.


Foreign tourist arrivals resumed earlier than expected, and the June figure contracted only 1.1 per cent on year. The figures this month has increased 11.5 per cent so far, thanks to arrivals from China and India. More European travellers are expected later this year.


"The indicators in June were better than expected, particular the tourism sector. The sector contracted only 3.6 per cent in the second quarter, against the expected shrinkage of 15-20 per cent. This will help push the quarterly GDP. Although GDP growth may slow from the first quarter, it should expand at no less than 8 per cent," he said.


Finance Ministry spokesman Ekniti Nitithanprapas said the outlook is positive with huge capital goods imports in June. Consumer confidence has rebounded, as reflected in higher value-added tax and automobile and motorcycle sales figures.


"The impact from the political turbulence was less severe than expected. Growth should continue in the third quarter, thanks to exports. However, external factors remain in focus as well as several countries' attempts to cut public spending, which could hurt Thailand's exports," he said.


When the ministry reviews its 2010 economic growth forecast in September, there is a chance that the forecast could be revised upward, he said.


The current projection is 3.5-4.5 per cent. The Bank of Thailand earlier upgraded the estimate to 6.5-7.5 per cent from 4.3-5.8 per cent.


The budget could start balancing faster than expected in 2013, as until then GDP could expand by at least 4.5 per cent per year while public debt would definitely not hit 60 per cent of GDP.




**********************************************************************************


TUF stock soars 7% on rave reviews of acquisition

Published on July 30, 2010

Thai Union Frozen Products (TUF) stock rallied yesterday by nearly 7 per cent, strongly supported by positive views on its future earnings derived from lower costs and market synergy after its Bt28.5-billion acquisition of MW Brands, a leading European seafood firm.









Securities Analyst Association (SAA) consensus has predicted TUF's net profit at about Bt3.75 billion this year and Bt4.11 billion next year. These projections translate into estimated earnings per share of Bt4.25 this year and Bt4.58 next year. Many brokerages have given TUF stock a "buy" rating.


TUF rose yesterday by 6.95 per cent to close at Bt50 per share.


KGI Securities (Thailand) reiterated its recent upgrade of the stock now that the firm will become a true global player in the tuna market after the acquisition, as MW Brands (MWB) has a strong foothold in France, the UK, Italy, the Netherlands and Ireland.


TF won a bid to acquire a 100-per-cent stake in MWB at a total value of ?680 million (Bt28.5 billion).


After the acquisition, TUF's sales to the US market will be reduced to 33 per cent of the total from more than 50 per cent, while sales to the European Union market will jump to 33 per cent from 11 per cent currently.


"We expect TUF's compound annual growth rate in 2010-15 to increase from 4.2 per cent to 9.1 per cent despite its heavy debt from acquiring MW Brands," said the brokerage.


KGI Securities said the transaction was expected to be complete by November 30, or at the latest by the end of the year. Therefore, the brokerage expected MWB's performance to be reflected on TUF by 2011.


Despite a leap in interest expenses, TUF is expected to reap decent earnings of Bt4.4 billion next year, up 10.7 per cent from estimated earnings this year thanks to the contribution from MW Brands, according to KGI's research.


MWB's products offer twofold higher margins compared with TUF because of lower raw-material costs, as the company has fishing grounds in the Indian and Atlantic oceans, allowing for tuna prices 10 per cent lower than for Pacific Ocean stock. As well, it has zero tariffs on exports to the EU market; tuna exported from Thailand to the EU is subject to a 14-per-cent tariff.


Besides, TUF expects to gain more bargaining power because of the larger sales volume.


The KGI research report said: "We expect TUF and MW Brands to have lower tuna costs, which should be an immediate [advantage] for TUF. In the long run, we expect even more benefit from the acquisition."


However, KGI expected TUF's dividend payment would be capped at Bt1.2 per share for at least three years because of the debt covenant. TUF's consolidated debts after acquisition in 2011 are forecast at a total of Bt41.67 billion, comprising TUF at Bt27.39 billion and MW Brands at Bt14.28 billion. Meanwhile, consolidated sales are expected to reach Bt100.56 billion in 2011 and Bt107.02 billion in 2012.


Finansia Syrus Securities is also optimistic about the acquisition by TUF of MW Brands, noting there will be strong horizontal synergy between the two companies.


First, as MWB sells such leading global brands as John West, the UK market leader with a 33-per-cent share; Petit Navire and Hyacinthe Parmentier, recording a 29-per-cent market share in France; and Mareblu, the third-largest player in Italy with 4.5 per cent of the market. This would shift the bulk of TUF's market distribution from the US to the EU.


Second, TUF will gain benefits from expanded areas of resources via MWB, including a lower transport cost of tuna, the securities firm said.


Last, MWB has better financial ratios than TUF. MW Brands posted earnings before interest and tax of 15.7 per cent last year, while TUF posted 6.5 per cent.


Moreover, TUF's earnings after the acquisition will be large enough to cover the dilution effect in which new TUF shares will be created. Part of funds to buy MW Brands will be from a Bt2.4-billion debenture issuance, and the company will have to increase its capital by 13 per cent or 116.829 million shares from its current total capital.


Meanwhile, Kelive Research of Kim Eng Securities (Thailand) commented that the share-capital increase would result in dilution effect on shareholding of between 7 and 12 per cent.


However, the brokerage agreed on the positive effect on TUF's future market expansion and profitability, becoming one of the world's largest seafood producers with a market share of 20 per cent, covering Thailand, North America and Europe.



DBS Vickers Securities (Thailand) also highlighted several positive issues.


This deal will pave the way for TUF to expand into European aqua can market, which is the largest in the world. Currently, MW Brands has largest market share in four countries (i.e., UK, Ireland, France and Netherlands), and third largest market share in Italy. TUF will own leading brands in Europe, such as Petit Navire, John West, Mareblu and Hyacinthe Parmentier. TUF will have better diversification from higher earnings contribution from European market and less earnings dependence from the US market. TUF would be become an even larger tuna can producer in the world with 500,000tons per annum, up from almost 400,000tons currently. TUF will reach its target to become Global Supply Chain and benefit from lower import tariff in Europe. The deal would lead to a cost saving, as (i) MW Brands would no longer buy raw products from middleman, (ii) economies of scale following MW Brands having four plants and five tuna catching ships. Note that TUF currently has four tuna catching ships.


However, the deal also creates some drawbacks. Due to the big size, TUF would see its debt to equity ratio rise to 2 times and its interest expenses will jump from the debt financing.


Nonetheless, it noted that this should not post severe negative impact to its overall earnings. DBS is revising the target price.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI


AVIATION
THAI signs up with Tiger to launch super cheap airline

Published on August 3, 2010

Thai Airways International is joining up with Singapore's Tiger Airways to operate an ultra lowbudget airline to make up for the market share it has been losing to budget airlines over the past seven years.

THAI president Piyasvasti Amranand said since budget airlines showed up, the national carrier's domestic market share dropped from 80 per cent to 50 per cent, while its regional share declined from 42 to 30 per cent.


"Budget airlines are expanding in Thailand and the region, now holding 17 per cent of the market share from just 2 per cent in the past. THAI has been losing its stand in the market to these new lowcost carriers, so this joint venture is a move to reclaim customers," Piyasvasti said.


He noted that despite the establishment of the new airline - Thai Tiger Airways - Nok Air would maintain its status as a sister company and its operations would expand to cover major domestic routes. THAI holds a 39percent stake in Nok Air.


"Although Nok Air planned to expand overseas, it was unable to do so due to its own limitations. THAI cannot influence the sister company's management and we can't take control of Nok Air's future," he said.


THAI signed a memorandum of understanding for the joint venture yesterday and will hold a 49.8 per cent stake in the business set up with a registered capital of Bt200 million. Its business units and the company's provident fund will hold 1.2 per cent, while Tiger Airways will hold the remaining 49 per cent. Tiger Airways is a joint venture with Ireland's Ryanair and Singaporean alliances, including Singapore Airlines.


Three THAI directors will sit on the joint venture's board, while Tiger Airways has nominated two members, namely its president and CEO Tony Davis and founder of Ryanair, Declan Ryan. The airline's chairman is expected to be a Thai national, and the management and staff will be recruited soon.


Based in Bangkok, Thai Tiger Airways will operate from Suvarnabhumi International Airport, covering domestic destinations and shorthaul flights overseas that take no more than five hours. The airline is scheduled to start operations within first quarter of 2011, pending regulatory approval.


According to Piyasavasti, the new airline will be targeting the lowend market, using Airbus A320 aircraft and offering really low fares. The airline will utilise five aircraft in the first year of operation and will increase to 10 in 2012.


In order to keep its costs low, the airline will use approximately four crew members per flight, offer no services, keep its staff members, especially those in the marketing department, very low because more than 97 per cent of its tickets will be sold via the Internet.


According to Davis, Thai Tiger Airways will help boost the customer base in Thailand and the region, adding that the destinations were still being planned.


He said Thailand was not just a great tourism destination, it was also good gateway to link up with the rest of Southeast Asia.


"We are moving in anticipation of Asean's aviation liberalisation policies set for 2015," Davis added.


He explained that Ryanair had succeeded in Europe despite there being so many other budget airlines, because its tickets went for as low as $50 per sector. He said a similar pricing strategy would be adopted in Thailand.


Lowcost airlines hold 36 per cent of the business in Europe, and 27 per cent in North America. Last year, Ryanair serviced 70 million travellers in Europe. Tiger Airways started flying between Bangkok and Singapore in 2004.


Tassapon Bijleveld, chief executive officer of Thai AirAsia, country's largest lowcost airline, said THAI had made a wrong move by focusing on budget air travel, when the market value in the region was only roughly Bt10 billion, which is not much compared to the premium market.


Even if Thai Tiger Airways is able to gain 50 per cent of the market, it would only have a revenue of Bt5 billion and very little profit.


He said THAI should focus on its strength as a premium airline and the premium market, which is worth more than Bt100 billion. In fact, he said, it should compete with major carriers like Singapore Airlines in offering highend services.


Tassapon added that gaining a market share in Thailand was not easy because of tough competition, though, he said, the AirAsia Group welcomed the new player with no fear.


"We [the AirAsia Group] have nearly 90 aircraft and have covered all destinations in the region. It [Tiger Airways] has less than ten aircraft. So we don't really need to do anything for now. We prefer to wait until the joint venture is sealed," Tassapon said.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC



AIS posts impressive gains as TRIS Rating predicts more to come

Published on August 7, 2010

Advanced Info Service (AIS) posted net profit of Bt4.879 billion in the second quarter, and increased 16.2 per cent year on year, due to improving revenue and data revenue growth.

Its net profit in the first half stood at Bt9.85 billion versus Bt8.76 billion over the same period last year.


According to its filing to the Stock Exchange of Thailand, it revised upward its telecom service revenue forecast this year, excluding interconnection revenue, to 5-per-cent growth versus the previous 3-per-cent growth forecast. This reflected both a general solid economic recovery and a strong momentum of data growth.


Capital expenditure guidance remains at Bt6.2 billion versus Bt9.9 billion last year.


AIS voice revenue was Bt16.322 billion in the quarter, an increase of 2.3 per cent year on year, while its non-voice revenue was Bt3.643 billion, surging 35.7 per cent year on year.


The AIS board of directors meeting on Friday also approved an interim dividend payment for the first six-month period of 2010 at the rate of Bt3 per share from registered and paid-up capital of approximately 2,967.39 million shares, totalling approximately Bt8.902 billion.


The share registration book closing date to determine the right to receive dividends will be on August 20, and the dividend payment date will be on September 3.


AIS currently has around 30 million subscribers. It is around 42 per cent owned by Shin Corp.


AIS is among three telecom operators expected to bid for a 2.1GHz spectrum license from the National Telecommunications Commission to provide the 3G wireless broadband service. The auction will take place in the fourth week of September.


In a separate matter, TRIS Rating (Thailand), has affirmed issue ratings for Thaicom at "BBB+" with "stable" outlook, which reflects Thaicom's market strength as the sole satellite communications service provider in Thailand, the business value of the telecom investment portfolio, and prospective broadband satellite results in the domestic and Australian markets.


Shin Corp owns around 41 per cent of Thaicom.


The ratings are partially offset by intense competition in overseas markets, high operating and regulatory risks inherent in the satellite industry, and uncertainty surrounding the prospect of broadband satellite in key foreign markets.


The unresolved regulatory disputes concerning the conventional satellite business could negatively affect the overall operating performance and business profile of the company.


The "stable" outlook reflects the expectation that it will continue to maintain its market strengths and generate stable cash flows from conventional satellite services and telecom businesses in Indochina. The delay of iPSTAR's success in the overseas market remains a key negative factor to the ratings.


Thaicom operates three satellites, Thaicom 2 and 5 conventional satellites and iPSTAR broadband satellite.


Of total revenue in the first quarter of Bt1.784 billion, the conventional satellites contributed about 36 per cent and iPSTAR around 31 per cent. Its telecom business contributed a third of total revenue.


According to TRIS Rating, Thaicom's favourable position in the domestic and overseas markets has stabilised operating cash flow. The ratings factor in the expectation that its parent Shin Corp will continue to provide the necessary strategic support so as to help enhance the company's overall business profile.


The ratings also take into consideration the growing iPSTAR business. The utilisation of iPSTAR has so far been derived from providing service in Australia and Thailand. The execution of commercialising iPSTAR in the Indian market, expected during the third quarter of 2010, will be one supportive factor to the ratings.


Construction of the iPSTAR gateway in Japan was completed in mid-2009. A Japanese telecom customer signed an agreement to buy bulk bandwidth from iPSTAR in Japan starting from April 1 this year. Thus, the Japanese market is another key revenue contributor in the future.


However, iPSTAR's prospects are constrained by uncertainty surrounding the extent and timing of revenue from the Chinese market. Further evidence is required to prove the competitiveness of iPSTAR in the Chinese telecom market. Success will depend to a large extent on management's ability to offer attractive solution packages for a strategic partner.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK

*********************************************************************************
STOCK INVESTMENT
Rosy outlook ahead

Published on August 13, 2010

The Thai stock market out-performed regional peers in July 2010, with the 7.3 per cent gain from the previous month against 5.4 per cent average for regional peers, according to DBS Vickers Securities (Thailand).





Foreign investors remained net buyers in Thailand in July.

DBS now expects the SET Index to rise to 964 points within 12 months. It noted that despite the rally, the market is still cheap at 11 times over the 2011 price-to-earning ratio.

"We remain positive towards the market, and retain our 12-month SET Index target of 964. This is based on a bottom-up approach, which suggests 13 per cent upside from current levels. At this target, the market would be trading at only 12.5 times, still below its historical average."

Supporting the positive view is the fact that the Thai economy has proved to be very resilient to the recent political turmoil. DBS has raised the 2010 GDP forecast to 8 per cent, from 7 per cent, thanks mainly to the stronger-than-expected rebound in manufacturing/exports, consumer spending, and tourism, in the second quarter.

It expected banks to see stronger loan growth and wider net interest margins this year amid the rising interest rate environment. The electronics sector is now enjoying robust export growth as it enters peak season in the third quarter, while the food sector is still enjoying strong product prices as demand continues to grow, while costs remain relatively stable.

*********************************************************************************

Thai banks show healthy performance in Q2

Published on August 11, 2010

Despite recent political unrest in Thailand, local banks showed their resilience in the second quarter with the seven major banks reporting higher net profits, supported by a decline in loan loss provisions.



In the first half, Bangkok Bank, Krung Thai Bank, Kasikornbank, Siam Commercial Bank, Bank of Ayudhya, TMB Bank and Siam City Bank showed the aggregated earnings of Bt49.1 billion, up 27 per cent year on year.


"The performance of the Thai banks continues to show resilience with most reporting stable net profit helped by lower provisions and loan growth. Despite the weak operating environment there has been no significant asset quality deterioration. Thai banks' strong capital and liquidity, as well as the healthier state of the local consumer and corporate sectors have helped provide a strong buffer to the economic shocks in the past year," said Vincent Milton, Managing Director of Fitch Ratings (Thailand) and a Senior Director of Financial Institutions.


In the second quarter, their loan growth increased 5.3 per cent on year. BBL, KBank and SCB continued to outperform the sector with strong net profit and return on assets (ROA). SCB reported the strongest annualised ROA of 1.7 per cent in the quarter, although its net profit declined by 16.7 per cent on quarter to Bt5.3 billion on the absence of dividend income from Vayupak Fund and lower gains on exchange.


BBL's net profit of Bt6.9 billion (up 13.1 per cent quarter on quarter), was boosted by a gain on sale of BBL's stake in ACL Bank to Industrial and Commercial Bank of China. KBank reported net profit of Bt5.2billion (up 12.2 per cent quarter on quarter) due to stronger loan and fee income growth.


KTB's net profit increased by 9.7 per cent quarter on quarter to Bt3.4 billion. BAY's net profit of Bt2.1billion in the quarter was relatively flat quarter on quarter following a strong growth in the first quarter due to asset acquisitions in 2009.


TMB's performance is improving with a net profit of Bt0.9 billion (up 24.9 per cent quarter on quarter), although revenue growth remains weak due to further loan contraction. SCIB's net profit increased 14.9 per cent quarter on quarter to Bt1.2 billion, due mainly to lower provisions, while Thanachart Bank's net profit should increase significantly following the acquisition of SCIB, Fitch Ratings said.


The net interest margin (NIM) of the major seven banks of 3.4 per cent appears slightly higher than Malaysia (3 per cent) but lower than Indonesia (6 per cent) and the Philippines (4 per cent). Thai bank's NIM does not take into account deposit protection agency cost (0.4 per cent of deposits), which would lower NIM to 3 per cent.


Also, Fitch noted that Thai banks still face a higher burden from legacy non-performing loans (NPLs) from the 1997 financial crisis.


Thai banks' asset quality remained stable at end-June 2010. The system's NPLs (unconsolidated), declined by Bt15billion quarter on quarter to 4.4 per cent of total loans at end-June 2010 (end-March 2010: 4.6 per cent). The system's special mention loans (SMLs) appeared to also have stabilised at about 3 per cent of total loans. Of the major banks, KBank reported the lowest NPL ratio (end-June 2010: 3.6 per cent). TMB reported the highest NPL and SML loans, although the former fell to Bt44 billion (12.6 per cent of total loans) at end-June 2010 from Bt54.4 billion (14.8 per cent of total loans) at end-2009, mainly due to NPL disposal of BT9.3billion. BAY is also in the process of selling Bt5 billion of NPL in the third quarter, which is expected to help lower the bank's NPL ratio to about 6.5 per cent by end-2010.

*********************************************************************************
AUTOMOTIVE
Car sales rise for 11 consecutive months

Published on August 13, 2010

Automotive sales in July continued the growth momentum with the domestic sale of 65,672 units or a 52.2 per cent increase from the same period last year, according to data compiled by Toyota Motor Thailand.


This showed the 11 consecutive months of increase, in line with the economic recovery.


Passenger cars showed the impressive growth, with the sale of 28,780 units or an increase of 64.1 per cent, thanks to the rising popularity of small cars.


Commercial vehicle sale reached 36,892 units, up 44 per cent on year. In this category, the one-tonne pickup sale at 31,115 units showed an increase of 39.8 per cent.


In the first seven months, aggregate sales reached 422,364 units, up 53.8 per cent from the same period last year.


Toyota's executive Vudhigorn Suriyachantananont attributed the continued growth to the government's stimulus package, which boosted household income and consumer confidence. Meanwhile, inflation is at a relatively low level while new models are being introduced to the market.


He anticipated further growth in August, due to the launch of new passenger car and commercial vehicle models, auto companies' new marketing packages, and continued increase in agricultural and industrial income.


"This supported the industry's expectation that total sales this year would reach 750,000 units," he said, adding that the global economic growth should also increase exports particularly in the second half.


*****************************************************************************************

KBank to increase role in halth insurance

Published on August 14, 2010

Kasikornbank aims to grow total bancassurance premiums this year to Bt17 billion, with more penetration on health insurance packages. New products will target working people and parents who want to save for their children.

Silawat Santivisat, first sen?ior vice president of KBank, said that to achieve the goal the bank had various options. While putting more emphasis on health insurance, the bank would also maintain a focus on other products such as credit insurance and accident insurance, which will be bundled in packages for life insur¬ance policy buyers and fixed deposi¬tors.


In the second half, bancassurance premiums are expected to be between Bt4 billion and Bt4.5 billion. For the year, the premiums will reach Bt17 billion, or 100 per cent growth from 2009, said Silawat.


The bank recently launched two new health insurance products, as people are paying more attention to their health as medical costs have increased dramatically with new technologies being introduced in hospitals.


Silawat said that for parents who want to save for children, the package will cover accident insurance together with savings and daily compensation when in hospital.


For the working class, the ProLife 90/5 package will comprise health and disability insurance. Buyers who open fivemonth fixeddeposit accounts will seen an annual interest rate of 5 per cent.


The two packages will be available until the end of this year.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE

*********************************************************************************

KCE projects record profit
Published: 16/08/2010 at 12:00 AM
Newspaper section: Business

SET-listed KCE Electronics Plc, one of the largest printed circuit board (PCB) makers in Southeast Asia, is aiming for record earnings this year as sales revenue is set to grow 10-15% in the second half after the company earned US$111 million in the first six months.

Deputy managing director Pitharn Ongkosit said orders from new European, US and Asian customers would drive KCE's revenue to more than $120 million in the second half. It is hoping for 2010 sales to reach $240 million, up 40% from $168 million last year.

"We are on track to make the highest-ever quarterly profit in the third quarter, thanks to the recovery of both the electronics and automotive industries," said Mr Pitharn, adding that automotive electronics accounted for 60% of KCE's turnover.

Automotive customers represent 30% of the company's 220 clients with brands such as TRW and Bosch, while consumer electronics firms such as NEC, Sharp, Sony and Canon contribute 20%, with the rest industrial customers.

The company is close to concluding a deal to supply PCBs to two Japanese automotive parts suppliers, one of them the world's largest auto parts maker, he added.

Last month, KCE opened representative offices in Japan to expand its profile, which accounts for only 5% of its sales now.

Mr Pitharn said 200 million baht was allocated to raising PCB production by 15% from 1.9 million square feet per month. By the first quarter of 2011, overall output will reach 2.1 million square feet.

The company operates three factories in Lat Krabang, Ayutthaya, and Bang Pu that employ 5,000 people, with half the workforce at Ayutthaya.

Global PCB demand has recovered from the recession last year and is expected to post continuous growth of 5-6% per year from this year onward. The automotive sector, especially hybrid vehicles, will be a major driving force as more electronic parts are required.

Even though the price of copper, the major raw material for PCB production, has started to rise recently to $7,700 per tonne, KCE has hedged the price at $6,100, said Mr Pitharn.

The company has also acquired 100% of Thai Laminate to control the cost of raw materials.

In the first six months of this year, KCE returned to profitability of 342 million baht from a net loss of 114.4 million in the same period of 2009. In the three months to June, earnings jumped to 161 million baht from 4 million a year earlier as sales rose 56% from 1.29 billion baht ($37.4 million) to 1.89 billion ($58.6 million).

Shares of KCE closed unchanged on the SET on Wednesday at 10.20 baht, in trade worth 78 million baht.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
*********************************************************************************

Thai Rung swings into black

* Published: 24/08/2010 at 12:00 AM
* Newspaper section: Business

Thai Rung Union Car (TRU) expects more than 50% revenue growth this year and 20% next year thanks to the global economic recovery and domestic eco-car programme.

Managing director Sompong Phaoenchoke said the firm would spend 600 million baht between now and the end of next year to expand operations.

Some 400 million baht will go to expanding TRU's auto parts plant in Rayong province, which is now running at 70% capacity. Another 200 million baht will go towards a new car-paint facility.

TRU posted first-half revenue of 840 million baht, up by 31% year-on-year. Quarterly revenue also rose by 31% year-on-year to 430 million baht.

Net profit swung back into the black with 61 million baht recorded for the second quarter against a loss of 30.9 million the year before. First-half profit totalled 84.2 million baht against a loss of 80 million last year.

Mr Sompong told investors at a briefing yesterday that the launch of Thailand's eco-car programme would help boost activity across the supply chain. Nissan has already announced its March eco-car, while Honda will spend 6.7 billion baht to build its own small concept car at its Ayutthaya plant this year.

Mitsubishi hopes to produce 107,000 eco-cars in Chon Buri province from 2012, while Toyota is projecting 100,000 units in annual sales from its 4.64-billion-baht investment in Chachoengsao. Suzuki is also investing 7.5 billion baht in its own programme.

Authorities hope eco-cars, a new classification of small-engine compact passenger cars, will become a new product champion for the Thai auto industry to complement the sector's existing strengths in the light pickup category.

Thai auto production is on track to set a new record this year, with more than 1.57 million units projected, including exports of 894,000.

Nearly half of TRU's revenue comes from original-equipment manufacturing (OEM) deals for parts and tooling sales for firms such as General Motors (GM), Aapico Hitech, Emerson, Triumph and Kawasaki.

Revenue from contract assembly accounts for another 29% of the total, including clients such as Isuzu, GM and Tata.

Mr Sompong said the company posted net losses over the past three years due to the global crisis and high market competition.

But he believes the company looks set to pay a dividend this year and that the consolidated net profit will remain relatively strong at 1.04 billion baht.

Mr Sompong said TRU would continue to focus on the OEM market for the next several years, eventually expanding into the turnkey auto market, with one contract already in place for a Chinese client and another in negotiation for an Indian customer.

Shares of TRU on the Stock Exchange of Thailand closed yesterday at 4.92 baht, down 4 satang, in trade worth 8.73 million baht.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
*********************************************************************************

AVIATION
THAI shows improvement in earning

Published on August 16, 2010

Thai Airways International managed to report quarterly profit of Bt1.55 billion, against loss of Bt5.4 billion in the same period last year on revenue of Bt39.6 billion.


In the second quarter, the cabin factor was 64.5 per cent, compared to 66.2 per cent in the same period last year. The average freight load factor was 64.8 per cent, from 48.5 per cent. Though jet fuel cost rose 46.6 per cent, THAI recorded Bt4.39 billion in foreign exchange gain.


In the first half, the company showed the net profit of Bt12.3 billion, an improvement from Bt2.46 billion in the same period last year. As of June, it also reported a Bt19 billion decrease in liabilities to Bt199 billion.


***********************************************************************************

CPN
CPN earmarks Bt9.8 bn for overseas retail projects

Published on August 25, 2010

Central Pattana is preparing to invest Bt9.8 billion on one or two overseas retail projects in 2014 if its expansion into China and India bears fruit.

A joint-venture agreement in China is expected to be signed this year, while the shopping-mall developer is studying the feasibility of entering India, CPN senior executive vice president Naris Cheyklin said yesterday.

Overseas investment must be pursued given the saturation in the domestic retail industry, he said.

The company has set a target to generate 10 per cent of total revenues from overseas by 2013.

The Chinese market is subject to fierce competition, but CPN's study confirmed that the company holds a competitive advantage - location. He is convinced that the operation there would be successful.

Naris said CPN's net profit in the second half would likely outpace the first half's Bt1.11 billion, as some sections of CentralWorld, which was partially destroyed by fire, could be reopened next month before the entire restoration is completed in November.

The company this year has committed Bt7.2 billion to investment, excluding the rebuilding of CentralWorld. Three projects in Chiang Rai and Phitsanulok and on Rama IX Road are under construction, with completion set for next year

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage


Three core enterprises TTA to equalise revenue mix

Published on August 27, 2010

Thoresen Thai Agencies (TTA) wants to adjust the revenue mix of its three core businesses - cargo transport, energy and infrastructure - from 50 per cent, 20 per cent and 25 per cent to equal shares by 2013.

ML Chandchutha Chandratat, president and chief executive, said yesterday that growth in dry bulk shipping, part of its transport business, in the rest of this year and next year was expected to slow because of lower demand in China and the glut of vessels.


China's slower imports were the major cause for the downward trend of the Baltic Dry Index (BDI) in the past few months, he said. The company did not expect a strong recovery in Chinese imports.


The oversupply of newbuild vessels is also pulling down the fleet time charter equivalent rate. The TCE rate in the rest of this year to next year is expected to drop to US$12,000 per vessel day from the current $14,600 (Bt457,600).


Over three to five years, 3,000 newbuild vessels are forecast to enter this market on top of 7,700 vessels now.


The significant oversupply as well as the lower TCE rate led TTA to expect dry bulk earnings to remain flat or decline in the coming months compared with the past nine months of its 2010 fiscal year.


"The expected lower fee of the transport business, especially dry bulk shipping, is a reason for diversifying our business portfolio to energy and infrastructure assets. We target the three businesses will generate equal revenue of 33 per cent each in 2013," he said.


The company will unleash an aggressive marketing plan for the energy business, comprising an offshore oil and gas services business, which is operated by its subsidiary Mermaid Maritime.


Recent news highlighting the risk of offshore oil and gas drilling, particularly in the Gulf of Mexico, remains a key focus in its operations. Clients in oil and gas have suspended subsea engineering.


TTA realised a loss of Bt262 million from Mermaid Maritime in the fiscal third quarter ended June 30.


TTA is talking with clients to secure services to maintain revenue from this business. One strategy is to increase the utilisation of subsea engineering services to more than 50 per cent from its critical fleet size of eight vessels, he said.


Subsea engineering is a key indicator of TTA's revenue in the next fiscal year.


The company is not worried about the performance of the infrastructure group, consisting of a coal logistics business and fertiliser and logistics business, Chandchutha said.


The coal logistics business is operated by Unique Mining Services (UMS), while Baconco in Vietnam operates the fertiliser and logistics business.


UMS experienced improvement in coal sales to cement plants and launch of a new highvalue product is expected by yearend.


The company is still putting together the investment budget for the next fiscal year starting October 1, but it will not be as big as the past nine months, when TTA invested Bt6 billion.


Under the draft investment budget, TTA will buy new bulk vessels and invest in drilling services and facility expansion in the Vietnamese firm.


The company is talking with two firms in Asian countries, aiming to acquire shares. The deals are expected to be completed in two to three months.


"As a holding company that continues to invest through the three businesses, we have to prepare cash for investment, so the company has to project an annual net profit margin of 15 per cent," Chandchutha said.


The company has cash flow of Bt6.7 billion.



TTA targets revenue this year at Bt900 million, the same as last year, because of the lower targeted performance of Mermaid and the outlook for dry bulk shipping.


KGI Securities revised down the earnings target of TTA this year by 22 per cent to Bt865 million because of the lower BDI rate. The diversified businesses also could not generate as much profit as TTA had expected.


*****************************************************************************************


Thanachart maintains growth target

Published on August 17, 2010

Thanachart Insurance is maintaining the target to grow its premiums by 30 per cent this year to Bt4 billion this year, though at Bt1.95 billion in the first half, the premiums slightly slipped from the target.


Managing director Perapart Meksingvee said a broader distribution network thanks to the merger of Thanachart Bank and Siam City Bank would help boost the business. The company is also planning to target families in the fourth quarter.


Meanwhile, Ayudhya Alliance CP Life Assurance is putting aside Bt200 million for training because it plans to increase its agents from 18,000 to 20,000.

******************************************************************************


Brokerages see rise in incomes amid uptrend

Published on August 26, 2010

Brokerages have forecast their income improving from last year after trading volumes hit Bt30 billion to Bt40 billion per day and the SET Index looked like it would peak at 925 points this year.

"We expect the SET's trading volume will go higher than last year, resulting in good performances for brokerages," Kongkiat Opaswongkarn, CEO of Asia Plus Securities, said during the Stock Exchange of Thailand's opportunity day yesterday.


Asia Plus' income and profit will grow by more than 20 per cent from good results in proprietary trading, he said.


Its Bt4-billion investment portfolio, both onshore and offshore, is expected to generate Bt400 million in returns, which is near last year's level, he said.


The company also realises income from dividends and profits from debentures, particularly structured notes and bonds.


The company's brokerage service is set to report higher revenue and profit thanks to heavier trading, which now averages Bt30 billion per day.


Whether the SET Index will climb to 900 or 1,000 points or not is unpredictable, due to the fluctuations. The SET Index has been highly volatile since early this year, he said.


The company continues to offer new financial products to boost its revenue. Three derivative warrants are expected to be launched by year-end with total estimated value of Bt100 million.


The company's investment banking arm is also busy, working on 19 deals at this time.


Montree Sornpaisan, CEO of Kim-Eng Securities, said the firm's profit is expected to reach Bt715.17 million this year, the same as last year. However, this outcome is better than expected thanks to the brisk turnover.


"Increased volume will offset brokers' commission losses," he said.


The company has already drawn up a business plan to boost income after the government said it would enforce commission-fee liberalisation. For instance, it will launch debenture and fund management this quarter. Two to three derivative warrants will also be offered.


The company's brokerage business generates 90 per cent of its revenue. However, that will be reduced to 70-75 per cent in three years, followed by derivative warrants at 10 per cent, investment banking at 5-7 per cent and interest income at 5-7 per cent.


Income from issuing debentures is forecast to reach 3-4 per cent.


The securities house has upgraded its SET forecast from 900 to 925 points this year to reflect the growing economy.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP

PTT says pay-out demand puzzling

Published on September 1, 2010

PTT Exploration and Production (PTTEP) is yet to prove the damage caused by the oil spill in Indonesia with scientifically-proven methods before reaching an agreement on the demand for compensation which to date has risen to US$2.4 billion (Bt75 million), a high-ranking official of PTT, the parent company, said.

"We're quite confused about the amount of compensation that Indonesia has demanded for the impact from the Montara oil leak. But at the moment, the amount of compensation is not so important," said PTT's chief financial officer Tevin Vongvanich.


"We have to prove the damage first. PTT has ordered PTTEP as well as other subsidiaries that have operations in Indonesia to run their businesses cautiously and transparently as Indonesia is an important location for the oil and gas businesses. We have to prevent possible conflicts or problems," he added.


He said the Australian government was closely monitoring the issue and told its people to understand the current situation. PTTEP is solving the problem and expects the Australian government to consider the issue fairly.


He said the group exercises strict caution in proceeding with its businesses in Indonesia which cover coal mines and palm oil. To date, the businesses have not been affected by the current situation.


"The oil exploration and production business is not related to the coal mines and palm oil businesses. PTT's subsidiary in Indonesia responsible for the coal-mine business will increase production capacity to 10 million tonnes by the end of this year," he said.


Agence France Press yesterday quoted Indonesian Transportation Minister Freddy Numberi as saying that the claim for 22 trillion rupiah (Bt75 billion) had been made during talks with PTT Australasia, a unit of Thailand's PTT Exploration and Production, in Australia last week.


"Our calculation includes potential damage to the coral reef in the affected area," Numberi said. The minister is leading a government team in negotiations with the Thai company, which has asked for detailed scientific evidence to back up Indonesia's claims.


"PTTEP has joined hands with Australian authorities to closely follow up on the environmental situation," the company said in a statement on Friday, adding the spill was limited to an area around its damaged Montara well. The result of these studies will be released to the public when completed."


The leak in the Timor Sea from August 21 to November 3 was the worst from an offshore oil platform in Australian history, although it was smaller than the recent BP spill in the Gulf of Mexico.


Like the BP spill, it dragged on for months as the company tried to plug the flow with a relief well, a process that eventually succeeded. It also led to calls for tougher regulation of offshore drilling and criticism of the authorities responsible for monitoring the operation.


Evidence given at a commission of inquiry showed the Montara slick grew to almost 90,000 square kilometres and entered Indonesian waters, according to environmental group WWF.


The West Timor Care Foundation, which supports poor fishermen in eastern Indonesia, estimates the spill affected the livelihoods of about 18,000 fishermen. Businesses such as seaweed and pearl farms were also reportedly hit.


Following this year's Gulf of Mexico spill, which was the biggest maritime spill on record and spewed some 4.9 million barrels of oil, BP set up a $20-billion compensation fund.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture



Rising baht hitting exporters of farm goods hard: CP

Published on September 9, 2010

The Kingdom's exports stand to lose Bt200 billion this year as a result of the baht's appreciation, with Bt27 billion of the total deriving from losses in the farming sector.

These figures have been forecast by Charoen Pokphand Group, the country's biggest agrobusiness conglomerate, which said this level of damage would occur if, as it expects, the baht reached 30 against the US dollar. It is currently trading against the greenback at a shade over 31.


The agricultural sector's exports, which rely almost 100 per cent on local content, cannot reap benefits from the stronger baht in the way that exporters of industrial goods can - that is, by incorporating cheaper import content and balancing their revenue and costs. Farm exports are in dollars and, with nothing to offset their exchangerate losses, agricultural exporters face a double hit from the rising baht and higher production costs.


The group also said the stronger baht and the trend of rising interest rates would result in Thailand missing the export projection by the National Economic and Social Development Board of 25percent growth this year. Instead, the figure will be in the range of 20 to 22 per cent.


Ajva Taulananda, vice chairman of the group, said the baht's value would appreciate to 30 per dollar, against 32 per greenback when the private sector laid down its business plans. This level of appreciation will lead to huge losses.


"The government should closely monitor not only the exchange rate but also interest rates. It should have measures to prevent speculation from the stronger baht, as well as to delay rises in interest rates," he said.


He said the Bank of Thailand should create assistance measures for small and mediumsized enterprises, whose businesses will be directly affected by exchangerate risks. In addition, the baht's appreciation will force them to shoulder higher production costs as a result of currency hedging.


Ajva said the stronger baht had immediately hit the export of farm goods. It is predicted that if the rate strengthens by a further baht, the country will lose Bt27 billion in farm export value, which is targeted to reach Bt830 billion this year.


He added that farm goods prices had increased by 27.8 per cent this year, particularly for important crops such as rubber, cassava and maize. The high prices are to a large extent due to global weather conditions, with many major agricultural countries facing drought and other climaterelated natural disasters that have damaged agricultural output.


Moreover, high demand from major consuming nations such as China has increased global demand for food.


As a result, farmers have enjoyed a rise of 30 per cent in their income, while farm goods prices are forecast to continue their upward trend over the rest of the year.


Ajva expressed concern over the rising global population, which is expected to hit 9 billion in 2050, from the current level of 6.3 billion.


"We will face a serious foodsupply shortage rather than an energyshortage problem. The problem will divide the global community into two camps: foodexporting countries and foodimporting countries," he said.


Thailand's economy is forecast to grow by 5 per cent in second half of the year and increase by 77.5 per cent for the entire year. However, it is expected to grow by only 3.54.5 per cent next year.


As the country's biggest agribusiness conglomerate, Charoen Pokphand Group has not itself been badly affected by the baht's appreciation, thanks to its balanced import and export management, Ajva said. The company has also engaged in hedging to minimise any exchange risk.


Pornsil Patcharintanakul, the group's senior consultant for the Agroindustry and Food Business Group, said the group is forecasting the baht at 30 per dollar. The unit's continued strength derives from many factors, particularly uncertainty over the economies of the US, the European Union and Japan after the injection of huge sums to ease their financial and economic problems.


"The monetaryinjection policies have not solved those countries' economicdomino problems, which has prompted them to turn their eyes to launching financial policies by weakening their currencies to boost exports," said Pornsil.


The inflow of funds is also an important factor causing the strengthening of the baht, he added.


While the agricultural sector has not enjoyed benefits from the stronger baht as it is almost entirely dependent on local content, farm prices have at the same time increased by 1020 per cent, which has caused exporters to shoulder higher production costs, he said.


Sumeth Laomorphorn, chief operating officer of CP Intertrade, said rice export prices are on a rising trend, as major rivals in the export market have had to cut their supplies.


For example, India will export only basmati rice in order to ensure food security for the country, while Vietnam faces a freshwatersupply problem due to China finishing its dam construction programme. In addition, flooding in Pakistan has damaged huge rice plantation areas, while the US and Cambodia are forecasting only slight increases in production.


Despite these problems, the world's rice consumption is expected to stand at 20 million tonnes this year, he said.


Export prices are forecast to increase to US$500 (Bt15,513) per tonne for white rice, $950$1,050 for jasmine rice, $550$580 for parboiled rice and $800 for sticky rice, said Sumeth.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht


*************************************************************************************

Younger buyers, mass transit fuel condo market: LPN boss

Published on September 6, 2010

Young adults buying condominiums as their first homes are driving demand for high-rise residences, which will result in strong growth in the condo sector for the next three to five years, LPN Development managing director Opas Sripayak told The Nation in an interview.


LPN, the leader in the condominium market, plans to launch its first luxury condo project, priced up to Bt115,000 per square metre, on Rama III Road in October.


Opas said homebuyers' preferences had changed over the past five years as traffic in the central business districts (CBDs) grew worse and mass transit expanded.


Previously, he said, Thais viewed condos as suitable for a second home, as their primary residence should be a low-rise. As a result, more than 70 per cent of sales were single detached houses, twin-houses or townhouses, and only 30 per cent were condominiums.


Now, however, condominiums have about a 50-per-cent share of total market volume, according to research by the Real Estate Information Centre.


Opas said the trend towards smaller condominiums had been driven by limited land in the CBDs, and consequently higher land prices, as well as changed customer demographics and lifestyles.


Ten years ago, people who bought condominiums were aged between 35 and 45 years. Most of them needed units with one or two bedrooms to accommodate their families.


Now, condo buyers tend to be between 25 and 30, and want smaller units such as studios or one-bedrooms, which not only suit their needs but are in their price range.


LPN Development manages 60 condominium projects with a total of more than 40,000 units around Bangkok. It caters to buyers of medium-sized and smaller condominiums.


Opas said the company tried to develop and design residences to suit its customers' demands.


"Before we launch a new project, we research customers' behaviour and demands and tailor our products to suit our target customers," he said.


For example, when the company launched a project with one-bedroom condominiums of only 25 square metres at Lumpini Condo Town Ramintra-Nawamin last year, it sold out within three hours.


This year, the company introduced studios of just 22sqm in the second phase of the Lumpini Condo Town project. That phase sold out within one day.


"We believe that the young generation will accept the concept of staying in a small space if the project has good community facilities. This is the selling point for our business," Opas said.

ENTRY TO LUXURY MARKET


However, LPN will also try to make inroads in the luxury market with the launch of Lumpini Park River View Rama III, which will open to pre-sales in October. It is the group's first luxury condominium project this decade, asking Bt115,000 per square metre for a villa or Bt12 million for a three-bedroom unit.


The project will integrate three building types: villas close to the Chao Phya River, condominiums, and home offices. Condominiums behind the villa complex will be priced at Bt1.7 million per unit or about Bt60,700 per square metre.


"This is our group's first luxury condominium project after the economic crisis of 1997. This is the best location for it and the demand is there," Opas said.


The company does not wish to limit its business to the middle market only but has tried to find new business opportunities by building residences that match customer demand and also offer the best community facilities, he said.


"Our business's stress on creating good communities is why we have the best relationship with our customers. We also manage all of our projects after transferring them to the customers, so they can trust our after-sale service," he said.


To foster such trust, during the last weekend of August, the company conducted a seminar for directors of its condominium community that now has 60 buildings, or 40,000 units, in Cha-am.


Although the condominium market is highly competitive, Opas believes LPN's business strength will drive its growth, as the market expands over the next five year along with establishment of new mass transit routes.


LPN Development expects total pre-sales between Bt15 billion and Bt16 billion by the end of the year after recording pre-sales of Bt11 billion in the first seven months.



************************************************************************************


SEMINAR
Funds inflows could propel baht even higher

Published on September 11, 2010

Thailand will continue to attract funds inflows next year, which could push the baht above 30.50 to the dollar, economists and analysts said yesterday, while urging the Bank of Thailand not to slam the brakes on the inflows as they are not for speculative purposes.

At a seminar on "Foreign fund flows", Usara Wilaipich, senior econ¬omist of Standard Chartered Bank (Thai), (SCBT) said the Kingdom had attracted huge inflows because of its strong economic fundamentals, like many countries in the region. However, she added, that in relative terms the inflows were small, which was reflected in foreigners' stock netbuys of only Bt30 billion so far in the second half. She said that compara¬tively, in December 2006, inflows during the month totalled Bt100 bil¬lion which led to a 15percent appre¬ciation of the baht, forcing the Bank of Thailand to impose the capital control measure.


To date, the baht has strengthened by 8 per cent, compared to about 10 per cent by the Malaysian ringgit and Japanese yen.


Usara pointed out that the appre¬ciation of the baht has become most apparent in the last 13 years, due to the imbalance in consumption and investment growth which, in this period, accounted for only 1520 per cent of gross domestic product, com¬pared to 3540 per cent before the financial crisis. She suggested the government impose measures to pro¬mote capital goods imports, which would enable outflows and slow the baht's appreciation.


SCBT expects the baht to strengthen to 30.50 per dollar this year, thanks to continued inflows. Investors are shifting money out of the US due to the fragile economic recovery. The baht could climb fur¬ther as it is also possible that within this year or early next year the US Federal Reserve could roll out the second round of quantitative easing, which would increase liquidity and encourage more massive outflows from the US.


"If the Fed announces quantitative easing to boost the economy, a mas¬sive funds flow would occur and the baht could surge beyond 30.50 next year," she said.


Kavee Chukitkasem, assistant managing director of Kasikorn Securities, said given the positive growth story of Thailand and the rest of Asia, there is no reason that inflows would stop soon. It would halt only when the US experiences a double dip, as investors would shift money to lowrisk assets.


"That is just an unlikely assump¬tion. What we anticipate is a slow recovery," he asserted.


He added that inflows to the stock market next year could leap to Bt100 billion against Bt30 billion this year, on the assumption that the US econ¬omy remains fragile, and there is no political unrest at home as well as no capital control measure. He voiced opposition to capital controls, saying the central bank could still seek com¬mercial banks' cooperation in delay¬ing the sale of bonds to foreigners.


The baht yesterday climbed to a 13year high. It has risen 4.5 per cent since July 23 when the Bank of Thailand predicted gross domestic product would grow as much as 7.5 per cent this year. That would make it the fastest annual expansion since 1995.


Usara believed the gain would be limited in the next 12 months as for¬eign investors are fretting over the central bank's move.


"The central bank should not exert control over the inflows, learning the lesson from 2006. The measure pro¬duced a huge impact and after a year, the baht weakened from 35 per dol¬lar to 31. There should be no inter¬vention and the authorities can forge new measures to soften the impact on the export sector," she said.


Waraporn Wiboonkanarak, head of research at KT Zemico, predicted the SET Index could hit 1,015 points in the next 12 months even without major capital inflows. She said with the inflows, the index could rise to 1,150.


Asia Plus Securities said in its research yesterday that the baht's appreciation could be slowed if the Monetary Policy Committee delays a rate increase at its October 20 and December 1 meetings.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND
************************************************************************************

BLAND wird immer interessanter - beginnt nun wieder ein neue Ära? ... 13 Jahre nach der Krise sind die Schulden abbezahlt, jetzt gehts zurück auf den Wachstumspfad ... hat der Leidensweg nun ein Ende?... Die Chancen stehen meiner Meinung nach gar nicht so schlecht.


Bangkok Land rallying
Developer plans massive investment

The listed developer Bangkok Land Plc plans to make its biggest investment in 12 years with several developments after clearing its 52-billion-baht debt resulting from the 1997 economic crisis.

The new projects will range from condominiums and hotels to a shopping centre worth a combined 15 billion baht in the Srinakarin and Makkasan areas and inside Muang Thong Thani on Chaeng Watthana Road.

Chairman and CEO Anant Kanjanapas said Bangkok Land had repaid all of its debts and was now ready to move on with three new developments.

"We spent 12 years freeing ourselves from massive debts. From now on, we believe Bangkok Land can grow and turn a profit again," he said.

The company has a land bank worth 35 billion baht including 1,500 rai on Srinakarin Road, seven rai next to the Airport Rail Link's Makkasan station, and undeveloped land at Muang Thong Thani.

For its new investments, Bangkok Land will focus on three business categories _ property, exhibition and convention centres and mass transit.

"It's too risky to put all of our eggs in one basket. Diversification will allow each unit to support the others. We'll gradually launch new projects next year depending on market demand, and not thousands of units like in the past," said Mr Anant.

The company plans to develop two 5-billion-baht condominiums next year at Srinakarin Road and Muang Thong Thani. First-phase sales have unit prices from 1-2 million baht.

As well, a four-star Novotel Hotel near its Impact Exhibition Centre will be completed early next year. The company will then introduce a 100,000- square-metre shopping centre and a five-star hotel close to a lake at Muang Thong Thani. The two projects will cost a combined five billion baht.

For low-rise residential development, a new shophouse project on Sukhothai Avenue 99 at Muang Thong Thani will kick off this year.

Mr Anant said the company was also concerned about generating rental income for its cash flow. After establishing Impact as one of the capital's key venues for meetings and exhibitions, it plans to build another Impact in the Makkasan area.

Called Impact Forum, the project will house a 2,000-seat auditorium, a 2,000-sq-m ballroom, a six-star hotel with 500 rooms and retail space."The Makkasan complex will cost 3-5 billion baht and be finished by 2014," he said.

To finance the Makkasan project, Bangkok Land plans to seek a listing for Impact Exhibition Management Co on the Stock Exchange of Thailand. Its executives have already discussed the listing with Kim Eng Securities and hope it can happen as soon as early next year.

However, Bangkok Land will remain the major shareholder in the unit, as its revenue is expected to double in the next five years from 1.8 billion baht this year.

Bangkok Land also plans to bid for the Pink Line mass-transit project. Discussions and plans are well advanced, while bidding partners have already been selected.

"We're still waiting for all official documents before tendering our bid," said Mr Anant.

The developer will bid to build the Pink Line's electric railway, stretching 37 kilometres from Khae Rai to Min Buri, passing Muang Thong Thani as well. The project cost is estimated at 37 billion baht. The government will spend 20 billion baht on supporting infrastructure, while the private sector will make up the rest.

The project's contractor will obtain a 30-year concession to operate the railway. Bangkok Land will issue bonds to raise funds to finance the Pink Line project if it wins the bidding.

"We see high potential to grow revenue from this business, because Muang Thong Thani is a big community of 300,000 people and Impact attracts some 15 million visitors annually. The area will grow even more with the mass transit," said Mr Anant.

Bangkok Land shares (BLAND) closed yesterday on the Stock Exchange of Thailand at 89 satang, down 2 satang, in trade worth 142 million baht.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur posting Nummern

post 88 Die reichsten Thais
************************************************************************************

Thailand's Wealthiest

A turbulent May looked like it would send business reeling in Thailand--in response to protester encampments, the military took over parts of the capital and more than 80 civilians were killed as fires rocked the stock market building and partly gutted the country's largest mall, Central World, owned by the Chirathivat family (No. 4). But Thailand's SET 50 Index barely budged and is up 20% since we published our last list of the nation's wealthiest. The Thai baht has appreciated 7% against the U.S. dollar, and GDP should grow 7% in 2010. Three-quarters of the richest added to their fortunes, including the biggest gainer, Aloke Lohia, whose net worth nearly tripled when he took his integrated polyester company, Indorama Ventures, public earlier this year. The son of an Indian entrepreneur is a newly minted billionaire and jumps 13 notches to No. 6, with a net worth of $1.25 billion. Also joining the country's billionaire ranks for the first time this year are Pruksa Real Estate's Thongma Vijitpongpun and Mitr Phol Sugar's Isara Vongkusolkit.

Shifting sands displaced the three-time No. 1 monied master, Red Bull cofounder Chaleo Yoovidhya; his wealth is up from last year, but he slips to No. 2 with a net worth of $4.2 billion. Topping him is agribusiness owner Dhanin Chearavanont, whose conglomerate Charoen Pokphand Group has seen the value of its stock assets more than double over the past year; his sum, which he shares with his three brothers, is estimated at $7 billion. New information on private shareholdings boosted the fortunes of Prapa & Wit Viriyaprapaikit (No. 22), whose Sahaviriya Steel Industries is considering a bid for a plant in England owned by India's Tata Group. They are worth $400 million this year.

Three names are new to the list. No. 13 Keeree Kanjanapas' property and construction firm, Tanayong, took over Bangkok's Skytrain operator in May; the renamed BTS Group Holdings is extending routes, buying new trains and developing real estate near stations. Fellow developer Prateep Tangmatitham (No. 33) saw his firm, Supalai, announce record sales and profits last year. And Roongroj Saengsastra (No. 31) is also making money from building, in his case by selling tiles to mostly rural customers. Khon Kaen Sugar matriarch Nintha Chinthammit died this summer. Her son Chamroon Chinthammit takes the No. 26 slot. He's been running Khon Kaen Sugar since 2005 but has his work cut out for him this year. The company is the lone loser on the list; its stock is down 11% over the past year; profits took a hit from lower sales volumes and poorer-quality crops. Thailand's 40 Richest

Drop-offs from last year included Anek Sithiprasasana, who retired from the board of Central Pattana (the Chirathivat family's real estate firm) last year and distributed his stake in mass-market retailer Big C. Phornthep Phornprapha, who runs Siam Motors, shares his bounty with several extended family members, none of whom individually made the cut.
Methodology
Wealth was calculated using share prices and exchange rates as of Aug. 20. For privately held assets we estimated what they would be worth if public, using information from the Thailand Ministry of Commerce and other sources. This ranking, unlike the Forbes billionaires list, includes numerous family fortunes. Dhanin Chearavanont, for instance, is valued by himself in the billionaire ranks but counted here with his three brothers.
Additional reporting by Caroline Chen, Rebecca Fannin, Donald Frazier, Brian Mertens, Lan Anh Nguyen and Tatiana Serafin.

Rank....Name.....................Net Worth ($Mil)....Age
1 Dhanin Chearavanont 7,000 71
2 Chaleo Yoovidhya 4,200 78
3 Charoen Sirivadhanabhakdi 4,150 66
4 Chirathivat family 2,900 NA
5 Krit Ratanarak 1,700 64
6 Aloke Lohia 1,250 52
7 Chamnong Bhirombhakdi 1,200 82
8 Thongma Vijitpongpun 1,150 52
9 Vichai Maleenont 1,110 92
10 Isara Vongkusolkit 1,100 62
11 Praneetsilpa Vacharaphol 1,050 78
12 Vanich Chaiyawan 690 78
13 Keeree Kanjanapas 650 60
14 Somporn Juangroongruangkit 580 59
15 Surang Prempree 550 68
16 Prayudh Mahagitsiri 525 64
17 Anant Asavabhokin 520 60
18 Kraisorn Chansiri 430 75
19 William E. Heinecke 425 61
20 Sunsurn Jurangkool 420 68
21 Boonchai Bencharongkul 410 56
22 Prapa & Wit Viriyaprapaikit 400 78
23 Thaksin Shinawatra 390 61
24 Nishita Shah Federbush 340 30
25 Worawit Weeraborwornpong 325 65
26 Chamroon Chinthammit 315 60
27 Prasert Prasarttong-Osoth 260 77
28 Nijaporn Charanachitta 230 59
29 Premchai Karnasuta 220 56
30 Niti Osathanugrah 215 37
31 Roongroj Saengsastra 200 60
32 Chalerm Yoovidhya 195 60
33 Prateep Tangmatitham 190 63
34 Virot Thanalongkorn 185 57
35 Vichai Raksriaksorn 180 52
36 Porndee Lee-Issaranukul 175 74
37 Vicha Poolvaraluck 170 46
38 Plew Trivisvavet 165 65
39 Petch & Ratch Osathanugrah 160 NA
40 PongsakViddayakorn 140 76

posted @ Monday, September 06, 2010 3:51 PM

[schmithi]

Australian authorities clear path for Banpu's Centennial takeover

Published on September 22, 2010

Australia has approved Banpu's US$2.1billion (Bt64.6 billion) bid for Centennial Coal, clearing the way for the friendly takeover.

"Banpu Minerals Singapore, a subsidiary of Banpu Public Company Limited, has received unconditional approval from the Australian treasurer for its offmarket takeover bid for Centennial," Banpu said in a statement to the Stock Exchange of Thailand.


Shareholders from Banpu and Centennial have approved the deal, which gives Banpu control of 10 coal mines in Australia and is among Thailand's largestever overseas takeovers.


The approval from Australia's Foreign Investment Review Board is one of the key conditions of the takeover offer. Other key conditions include minimum acceptance of 50.1 per cent of Centennial's shares, no material adverse changes to Centennial, no material acquisition or disposal of its assets, and the Australian dollar valued at not more than US$0.97.


Banpu has so far acquired 38 per cent of Centennial's shares. Last week, it extended the deadline for the tender offer to October 5 from September 27, the second extension in two weeks. Banpu can extend the offer up to one year from the start of the tenderoffer period.


"We believe the risk/reward profile lies towards the upside. Centennial will create a longterm growth platform for Banpu, boosting its coal resources by 137 per cent and coal reserves by 97 per cent," DBS Vickers Securities (Thailand) said in a research note. "The key risk to our call is Banpu raising its tenderoffer price higher than 6.20 Australian dollars [Bt180.50] per share, which means its net debt/equity would exceed our estimated 1.3 times. That said, we will be reviewing our valuation."
post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur posting Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
************************************************************************************

The brokerage said there were concerns of another overhang issue that could cap Banpu's share price. But in the worstcase scenario, if Banpu does not get 50.1 per cent of Centennial shares and the deal is cancelled, it would be neutral to the company's share price.




--------------------------------------------------------------------------------
Privacy Policy © 2009 Nation Multimedia Group


September 22, 2010 01:26 pm (Thai local time)




****************************************************************************************
THAI witnesses overwhelming success

Published on September 20, 2010

Thai Airways International received an overwhelming success for its public offering as almost all existing shareholders subscribed to their entitlements and beyond, while subscription from retail investors is more than twice the amount of offered shares.


The final PO result will be announced on September 22.


"Both existing shareholders and retail investors have expressed strong interest in subscribing to THAI's newly issued shares because of strong investors' confidence in THAI and the company's improved performance over the past year. The success of the PO will significantly help THAI in strengthening our financial positioning, supporting fleet expansion and increasing competitive edge. All of these are crucial to making THAI one of the top three Asian airlines and top five in the global arena in the future," said THAI President Piyasvasti Amranand.


A number of 483.87 million new shares are offered at Bt31 apiece to raise Bt15 billion. Subscription from retail investors is more than two times of the amount of offered shares.


The company expects its shares to be traded on the Stock Exchange of Thailand on September 28, two days prior to the originally planned date of September 30, 2010.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur posting Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
************************************************************************************
Tourist arrivals up 13.79%

Published on September 24, 2010

During the first seven months of this year, Thailand welcomed 8.77 million tourists, a 13.79 per cent increase from 7.7 million from the same period in 2009, according to Tourism Authority of Thailand.





TAT said that arrivals in the first half of 2009 had been hit by the impact of the global financial and economic crisis prevailing at the time, making this year's rate of increase relatively high over a low base figure. It also reflects the fact that while arrivals to Bangkok were significantly affected, arrivals to Phuket remained relatively buoyant. The arrivals in June and July 2010 have picked up significantly, thanks to the launching of recovery programmes and a broad range of promotional packages. TAT officials are optimistic that it will still be possible to meet the year's total arrivals target of 14 million arrivals.


On each of the markets, the following performance analysis, based on the figures tabulated so far:


EAST ASIA: East Asian visitor arrivals to Thailand comprise the biggest market share of all visitors. Of the 8.7 million arrivals in January-July 2010, a total of 4.33 million were from the East Asia region. Malaysia topped the list with 1,086,247 arrivals, followed by China 561,634, Japan 546,947, and Korea 445,809.


EUROPE: The January-July period saw a good growth rate of 13.79 per cent to 2.56 million. The United Kingdom is the largest source market out of Europe, with arrivals of 473,408, up 0.33 per cent. Germany is Thailand's second highest source market from Europe with a total of 353,188 arrivals, up 14.58 per cent over the January-July 2009.

Visitors from Russia to Thailand have been growing steadily over the past few years. In the early days, Russian visitors began flocking on charters to Pattaya to escape the harsh winters. Today, they have become mainstream travellers. In January - July 2010, Russian visitors to Thailand totalled 325,306, up 98.49 per cent over the same period of 2009.

THE AMERICAS: Arrivals in January-July 2010 saw an increase of 1.59 per cent to 492,509.


The main market, the US, showed a slight decrease by 0.07 per cent to 356,104. However, arrivals from both Brazil and Canada showed positive growth of 15.67 per cent and 1.9 per cent, respectively. Thailand's image of good value for money remains a powerful magnet that continues to attract tourists

SOUTH ASIA: Arrivals in January-July 2010 grew by a strong 16.91 per cent to 532,664 with all markets doing well. India has become a primary market with arrivals up by 19.88 per cent to 405,389, making it the region's fastest growing market. Thailand is enjoying huge popularity among Indian niche markets; such as, weddings and honeymooners.

OCEANIA: Arrivals in January-July 2010 grew by 10.52 per cent to 438,241 visitors. Australian visitors were up 11.65 per cent to 387,704 and New Zealand up 1.91 per cent to 49,139. This is largely due to the influx of low-cost airlines like Jetstar into Phuket.

MIDDLE EAST: Arrivals in January-July 2010 grew by a strong 24.37 per cent to 341,151 with all markets showing a positive growth. One of the most promising is Iran with an increase of 52.17 per cent.

AFRICA: Arrivals in January-July 2010 were up by 17.67 per cent to 66,802. South Africa is a major market and has showed significant growth of 30.71 per cent to 27,080. It is expected to perform strongly in the year ahead in the wake of relaunch of Thai Airways' flights to Johannesburg.






--------------------------------------------------------------------------------
Privacy Policy © 2009 Nation Multimedia Group

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur posting Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
************************************************************************************



Volume drop in key exports likely

Published on October 14, 2010

The volume of export shipments will fall sharply next year because of the baht's appreciation against the US dollar and the delay in practical government measures to assist exporters faced with foreign-exchange losses, the Thai National Shippers' Council (TNSC) said yesterday.

The five major sectors that will be hit the hardest as a result of the stronger baht are farming, agricultural industries, garments, footwear and furniture made of rubber-based artificial wood.


"Although Thai exports will be able to achieve 20-per-cent growth this year, the impact from the baht's appreciation will be felt the hardest next year," said TNSC chairman Paiboon Ponsuwanna.


"Exporters have had to increase their quoted prices in line with the baht's rise. However, buyers have delayed making purchasing decisions, as the prices are too high. Some buyers may turn to purchasing goods from other countries soon."



As a result, exports, which represent almost 70 per cent of gross domestic product, will be the worst-affected part of the economy because of the baht's appreciation.


Moreover, it is not only exporters that will be hit, but also labourers and farmers, the council said.


A study by the TNSC, Chulalong-korn University and the International Institute for Trade and Development shows that the export price and volume indices increased gradually in the third quarter. However, the latter is likely to drop through to the first quarter of next year.


The export volume index is projected to decline from 118.27 points in November to 112.39 in December and 102.95 in January.


The export value index is expected to increase from 145.47 points in November to 148.42 in December and 149.69 in January, mainly because of the stronger baht.


Paiboon said products being priced too high because of the baht's appreciation would lead to lower demand for Thai goods. In many cases, if buyers cannot cope with such high prices, they will shift to purchasing from other countries.


Vallop Vitanakorn, the council's vice chairman, said the government's measures to tackle the baht's appreciation would not have any real practical effect.


"The measures cannot solve the problem of the baht's strength. The effort has only created a short-term psychological impact for investors. To solve the currency's strength in the long run, the government needs to implement more stringent measures to prevent the influx of capital, which is the major reason behind the stronger baht," he said.


Thawatchai Jittrapanun, head of the Export Index project at Chulalongkorn's Faculty of Economics, said 25 key industries had been surveyed for the export value and volume indexes.


Most farm goods and agricultural-industry products, including shrimp, chicken, rice, seafood, tapioca, sugar, fruit and vegetables, as well as rubber, have shown a likely drop in both value and volume terms next year. The export volume of key industrial products is also expected to fall next year, mainly in respect of electrical appliances, electronic goods and plastic.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF

************************************************************************************




Seafood giant TUF stretching its global reach to Europe

* Published: 15/10/2010 at 12:00 AM
* Newspaper section: Business

Thai Union Frozen Plc (TUF) was founded in 1988 to process and export frozen seafood with initial capital of 25 million baht. Today, it is the world's second-largest tuna processor and is completing the acquisition of a major European company. President Thiraphong Chansiri discusses the company's strategy and outlook.

BUSINESS:

Please explain TUF's business model.

Fifteen years ago, TUF was already one of the leading contract seafood processors in Thailand but today also owns leading canned seafood brands in the US (Chicken of the Sea), Southeast Asia (Sealect) and China (Century). It is about to complete the acquisition of MWBrands, which owns leading shelf-stable seafood brands in Europe - John West, Petit Navire, Hyacinthe Parmentier and Mareblu. Despite our Thailand base, we are a global seafood company by any standard. Our production facilities are in Thailand, Vietnam, Indonesia and the US, and we'll have more through MWBrands, which owns facilities in the Seychelles, Ghana, Portugal and France. With these plants, we'll be able to source raw materials from all major fishing grounds.

How will the acquisition of MWBrands affect TUF and its business structure?

Before the acquisition, our revenue share from the US was 50%, Europe 11-13% and Japan 10%, with the rest of the world for the balance. Europe, collectively, is the largest market for canned seafood in the world. However, it has been a weak spot for us due to various trade barriers on imports. After the acquisition, a third of our revenue will come from the US, another third from Europe and the remainder from the rest of the world. MWBrands will be a platform for our future growth in Europe, Russia and parts of northern Africa.

How important are brands to TUF's business?

We believe in the power of brands but are also the world's largest contract canned tuna manufacturer, so our strategy is to grow both our brand and our private label business, especially with supermarket brands exhibiting significant growth.

Does TUF control the entire supply chain, from sourcing to distribution?

We are involved in all parts of our supply chain through either partnership or direct ownership.

Where does TUF see the most growth potential for its products today, and how is the company progressing towards those markets?

The growth strategy for TUF is straightforward - new products, new markets and new business, including M&As.


INDUSTRY:

What differentiates TUF from its competitors?

Brands represent reputation, quality and consistency, so consumer knows what to expect, and TUF, as a brand owner/supplier, must deliver on this. Supermarkets carry thousands of items and do not have the time or resources for any specific one. So it is up to the supplier, like us, to provide variety, initiatives and new ideas.

With increasing volatility in agricultural prices, how is TUF able to manage operations effectively?

We buy our raw materials four to six weeks ahead and sell four to six weeks ahead.

How will TUF mitigate foreign governments implementing tariffs on imports?

Tariffs and FTAs are issues for the whole industry. The US, though the largest market for Thailand, still applies a fairly high duty on imported canned tuna at 12.5%, while the EU has the highest rate at 24%. Japan's, thanks to the FTA with Thailand, will disappear in a few years. We must learn to operate efficiently in this environment. With the acquisition of MWBrands, the high EU import duty ironically becomes a positive for us.

FINANCIAL PERFORMANCE:

Given that half of TUF's sales are generated from the US, how does TUF manage the strengthening baht?

Our US subsidiaries produce and distribute within their market; their revenues and costs are thus mainly in dollars. Their risks related to a strengthening baht are indeed limited. But there will be a limited impact from the translation effect to the Thai parent company. The strong baht is indeed positive to our investment in Europe. The fall of the euro over the past year gave us a 20% discount on our acquisition costs in baht terms.

MISCELLANEOUS:

What do you feel are the biggest risks facing your business today?

The most farfetched risk is that the world runs out of fish. Realistically, the risks we face are mostly the volatility of raw material prices, foreign exchange rate movements and human resources. Today, our challenge is to improve our people and organisation for the new acquisition when we will have to manage operations spanning three continents.

Where do you see TUF five years from now?

We're driven by targets. I initially set a US$3-billion sales goal by 2012, but with this acquisition we'll be ahead of plan. Our next target is to achieve $4 billion by 2015. There remain areas for growth despite our strong global presence. For instance, the Middle East presents good potential for our tuna products, while Africa is equally interesting, given our fast-growing sardine business.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters

************************************************************************************

Thailand lures Japanese exporters
By Tim Johnston in Bangkok

Published: October 18 2010 17:38

http://www.ft.com/cms/s/0/71b7afc4-dad3-11df-a5bb-00144feabd…

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
********************************************************************************


PTTEP on course to beat profit target

Published on October 20, 2010

PTT Exploration and Production (PTTEP) is confident net profit |this year will exceed its Bt30-billion target, thanks to increasing global |oil prices and sales volume, and |it expects to conclude one merger and acquisition deal within this |year.

CEO Anon Sirisaengtaksin yesterday said despite optimism about achieving its net-profit target this year, the company so far had no plan to adjust the target upward. It posted net profit of Bt21 billion in the first half of this year.


He said sales volume in the third quarter of this year would be 260,000 barrels per day, same as in the second quarter, while the average daily sales volume should be 250,000 barrels, similar to last year, a 3-4 per cent increase.


He said PTTEP was also determined to resume oil and gas production in the Montara field in the second half of 2011.


"Everything is on schedule. We're in the process of rehabilitating the damage of the Montara field," he said.


Anon said PTTEP also expected to finalise one M&A deal overseas within this year. The company has a strong financial status for the acquisition with cash on hand of Bt400 billion and expected mobilisation of funds from a bond issue of US$700 million (Bt21 billion) to $800 million this year.


************************************************************************************


Banks sees profit hikes

Published on October 19, 2010

Kasikornbank showed the quarterly net profit of Bt5.32 billion, while other banks also showed an improvement in the third quarter.





While KBank's net profit rose 1.76 per cent or Bt92 million, TMB Bank reported consolidated net profit of Bt779.04 million in the third quarter of this year, up Bt246.05 million or 46.17 per cent from the same period last year. CIMB Thai Bank posted consolidated quarterly net profit of Bt180 million. It reported Bt894 million net profit for the first nine months, compared to a net loss of Bt41 million in the same period last year.


For the quarter, KBank showed a 3.17 per cent annualised increase in interest and dividend income, while the net interest margin was 3.87 percentage points.


CIMB Bank President and CEO Subhak Siwaraksa stated "The third quarter results reflected both continued improvement on economic environment and our on-going internal restructuring efforts. Importantly, the results reaffirmed our solid performance and growth momentum commenced since last year . We will keep forging ahead with our improvement initiatives to boost fee income and cut down cost to income ratio, etc."


Its net interest and dividend income increased by Bt108.3 million, from Bt3.6 billion to Bt3.7 billion. On a year-on-year basis, operating expenses lowered by Bt305 million, or 7 per cent, mainly due to reduced provisions required for contingent liabilities and off-balance sheet items, lower contribution fees to DPA resulted from lower deposits and lower losses on NPA sale. However, higher personnel costs were observed in the current period. Cost to income ratio improved to 75 percent, year-to-date, compared to 80 percent in the corresponding period last year, boosted by the improved operating efficiency.


As of September 30, total loans including Sathorn Asset Management stood at Bt94.9 billion, an increase of 10 percent year to date. The notable loan growth was largely attributable from SME and retail portfolio expansion. With ongoing efforts to improve asset quality and operating efficiency, CIMB Thai's consolidated gross non-performing loan stood at Bt8 billion, or 8.7 per cent of total against 14.9 percent at the end of 2009. Inclusive of NPLs of the asset management firm, the NPL ratio would have been 11.7 per cent.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
***********************************************************************************

DTAC's Q3 profits soar 88%

Published on October 23, 2010

The second-largest cellular operator, Total Access Communication (DTAC), posted a third-quarter net profit of Bt3.1 billion, growing 88 per cent year on year, driven by higher revenue and continuing improvement in operating costs.

Total revenue amounted to Bt18.4 billion, up 13 per cent year on year from the strong growth in income from value-added services and sales of smart phones.


Furthermore, earnings before interest, taxes, depreciation, and amortisation (EBITDA) continued to improve to 38 per cent on the back of ongoing cost-efficiency measures, the commencement of interconnection (IC) revenue booking with CAT Telecom and Hutchison-CAT Wireless Multimedia, and the disposition of its previous headquarters, the Chai Building.


For the first nine months, DTAC generated Bt 16.5 billion of operating free cash flow. On the strength of this, the board of directors passed a resolution to pay an interim dividend of Bt0.56 per share.


During the third quarter, DTAC added 296,000 subscribers, bringing the total subscriber base to 20.9 million.


DTAC chief executive officer Tore Johnsen said the telecom's underlying results remained solid and were strengthened by the extra gains from IC with CAT/Hutch and the disposition of the Chai Building. Both revenue and costs had shown positive development.


The board has raised its full-year cash-flow target to Bt19 billion.


The DTAC share price yesterday closed at Bt41.50, up from Bt40.50 a day earlier.


*****************************************************************************************

Kiatnakin to keep focus on hire-purchase

Published on October 23, 2010

Extending hire-purchase loans to buyers of second-hand cars and small to medium-sized property developers will remain the focus of Kiatnakin Bank for the next three to five years, said the bank's chief of finance and budgeting department, Chavalit Chindavanig.

"We are focusing on what we specialise in," he said, citing the higher profit margin from second-hand-car purchases.


More skill is required to stay in the second-hand-car hire-purchase business because of the differences between similar models, he said.


"Two second-hand cars of the same model, registration year and colour are not the same. Extending loans for second-hand cars is more difficult."


Up until the end of September, instalment plans for cars accounted for 70.78 per cent of the total loans extended, followed by 15.34 per cent for residential loans and 10.28 per cent for general loans.


The car loans amounted to Bt71.41 billion, of which 58 per cent went to new vehicles and the remainder to second-hand cars. About 78 per cent of the cars financed were in the provinces.

TARGET REVISED UP


The bank has revised this year's car-loan target to between 15 and 20 per cent from the previous 10-15 per cent because of a 50-per-cent increase in car sales during the first eight months of this year, and more than 60 per cent in September.


Domestic car sales are "likely to grow continuously", Chavalit said. Non-performing auto loans stayed at 1.1 per cent of the total hire-purchase loans at the end of September, down from 1.6 per cent at the end of last year.


As for its total loan growth, the bank is maintaining its target at 10-15 per cent this year even though it expanded total lending at 15.8 per cent in the first nine months.


It posted consolidated net profits of Bt2.35 billion for the first nine months, up 35.8 per cent from the same period a year earlier.


Its interest margin is at 5.3 per cent in the third quarter and its total non-performing loans stayed at 4.84 per cent at the end of third quarter, lower than the 5 per cent expected.


In the nine-month period, the bank saw a decline in fund-raising through deposits to 62 per cent of total funds a year ago. However, its funding through bills of exchange and debentures increased to 21 and 12 per cent from 17 and 7 per cent respectively.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
***********************************************************************************

ASCO
Prepare for free market, brokers told

Published on October 25, 2010

The Association of Securities Company (ASCO) has urged its broker members to gear up for the open market over the next two years.

Pattera Dilokrungt-hirapop, chief executive officer of DBS Vickers (Thailand) who is also president of ASCO, said securities houses should take advantage of the stock market's upward trend to prepare themselves for the liberalised market in 2012. This not involves brokerage fee, but also the entry of multinational brokerages, as well as bracing for becoming a self-regulatory organisation (SRO).

She said local brokerages are now ready in all facets and are also expected to report outstanding results in the third quarter.

Brokerages have been urged to speed up employee training, invest more in IT systems, and improve their businesses, she said.

The brokerage industry's third-quarter turnover was Bt36 billion a day, up 54 per cent quarter on quarter and 52 per cent year on year. In addition, after the Stock Exchange of Thailand (SET) Index has rallied, brokers engaged in proprietary trading in stocks have enjoyed huge capital gains. They have also gained from derivative business, especially futures contracts that recorded turnovers of 17,000 contracts a day, up from 16,000 contracts a day.

The SET index has surged 36 per cent since early this year.

Pattera said ASCO would speed up its privatisation to become an SRO.

In the short term, she said the association would have to add two more units - SRO and training centre - from only one unit, business development. Moreover, it would have to adjust the board structure by bringing in outsiders.

However, she said ASCO would call a meeting to discuss the restructuring of its board and additional units by the end of this year. For SRO, it should be effective in the second half of next year.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
***********************************************************************************




THAI's Q3 profits plunge 90%

Published on October 28, 2010

Thai Airways International would have shown huge profits in the third quarter without the huge foreign-exchange losses of Bt2.8 billion, DBS Vickers Securities (Thailand) said yesterday.

The securities house expects THAI's net profit to plunge 90 per cent from the previous quarter to Bt154 million due to the forex losses plus a Bt445 million write-off of spare parts and inventory. Though net profit was down, it was a strong turnaround from the Bt4-billion net loss in the same quarter last year.


In the third quarter, THAI's passenger cabin factor continued to improve to 74.7 per cent from 73.9 per cent in the third quarter and 64.7 per cent in the second quarter. It boosted its yield to Bt2 per kilometre from Bt1.9/km in the same quarter last year. The freight factor rose, while operating expenses remained under control.


Fourth-quarter results are expected to be better, as tourism enters the high season. During the first 10 days of this month, the cabin factor remained robust at 74 per cent, up from 73 per cent a month ago, while bookings for November 10 are already at 65 per cent. The yield also improved to Bt2.1/km from Bt1.98/km on September 10, and should continue to rise as special offers and promotions offered during the low season would be phased out.


"The small third-quarter net earnings might disappoint the market, but core earnings are a big improvement. We remain optimistic about THAI, as the turnaround is both external (rising travel demand from easing political tensions and improving economy) and internal (restructured operations)," it said.


DBS projects the airline's share price rising to Bt47.25. The stock closed yesterday at Bt45.50. While reporting that global international passenger traffic showed a 10.5-per-cent year-on-year increase last month, the International Air Transport Asso-ciation said Asia-Pacific carriers posted a 8.6-per-cent traffic increase over the previous September against a capacity increase of 6.9 per cent.


While the region led the recovery with an early surge in demand, growth this year has been largely flat. Traffic in the region remains 2 per cent below the pre-crisis peak of early 2008.


Tisco Securities expects THAI to report quarterly operating net profit of Bt3.54 billion, which marks a sharp improvement from the operating net loss of Bt1.25 billion in the same quarter last year. Its operating net profit is expected to be the highest among listed transport companies.


In the transport sector, Regional Container Lines is expected to turn in a quarterly net profit of Bt80 million, compared to a Bt681 million net loss in the same quarter last year. BTS Holdings Group should swing back to a net profit of Bt155 million against a Bt150 million net loss, and Airports of Thailand should report a profit of Bt158 million against a Bt4 million loss. Bangkok Expressway's net profit is expected to advance slightly.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
***********************************************************************************

Higher raw material costs trim TUF profit
Global reach helps offset strong baht

* Published: 1/11/2010 at 12:00 AM
* Newspaper section: Business

Thai Union Frozen Products Plc (TUF) posted a decline in net profit in the third quarter, as higher raw material costs, particularly for tuna and shrimp, trimmed its margins.

The country's largest canned and frozen seafood processor and exporter, earned 817 million baht, a drop of 20% from 1.01 billion in the third quarter last year. Net profit for the first nine months was down 4% to 2.52 billion baht.

President Thiraphong Chansiri attributed the decline to escalating input costs. he said tuna prices had been volatile since the beginning of 2010, while shrimp prices were up around 20% from their normal levels.

Nevertheless, he said sales remained strong, rising 11% in dollar terms to US$555 million in the third quarter, and 3% in baht terms to 17.43 billion baht. Sales in dollars for the first nine months rose 6% to $1.58 billion, but fell 2% in baht terms to 50.86 billion baht.

Mr Thiraphong said growth in dollar earnings reflected steadily improved operating performances at overseas subsidiaries. While the strength of the baht against the dollar has been a concern, TUF viewed the current level as manageable, he added.

Some of the negative impact from the baht was partly neutralised by gains from foreign exchange hedging. With the advantages of global manufacturing bases and access to global consumer markets, TUF was not too vulnerable to the full adverse impacts of any unfavourable exchange rate, he said.

"Sales growth in the third quarter proved TUF's ability to prosper even under an unpleasant business environment characterised by highly volatile currency exchange rates," he said. "It is also able to pay an interim dividend, in line with the normal payout policy of at least 50% of net profit."

In a related development, TUF said that its acquisition of the European seafood company MWBrands was completed on Oct 29, with the expected consolidation of its accounts into TUF's starting as soon as this month.

TUF also expects consolidated annual sales to surpass the previous target of US$3 billion set for 2012 sooner than planned. "As a result, we have set a new annual sales target of $4 billion by 2015," said Mr Thiraphong.

TUF shares closed on Friday on the Stock Exchange of Thailand at 57.50 baht, up 75 satang, in trade worth 309.8 million baht.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
***********************************************************************************


PTTEP eyes unconventional production arena

Published on November 6, 2010

President and chief executive officer Anon Sirisaengtaksin said yesterday that these unconventional businesses included oil sands, deepwater oil, heavy oil, and floating terminals for liquefied natural gas.

He said the company would invest in the arena through mergers and acquisitions as well as partnerships, depending on what is appropriate. The company has conducted a feasibility study on the matter.


PTTEP has conducted engineering and conceptual design studies on floating LNG terminals. It is in talks with two potential partners and will select one of them to invest in the business jointly with PTTEP. The negotiations are expected to be wrapped up in the next two months and PTTEP is expected to finalise the investment budget in this area late next year.


PTTEP has cash on hand of more than Bt40 billion. It made net profit of Bt31 billion during the first nine months versus the whole year's net profit target of Bt30 billion.


In a separate matter, Anon believes gas demand in the country next year will grow in line with the forecast growth of the economy. PTTEP will talk with PTT to see if it has to increase the production capacity at Bongkot South gas field to serve the expected rise in demand.


According to its current plan, the Bongkot South field will produce 320 million cubic feet per day of gas in 2012.


***********************************************************************************
Egat urges approval of new plant to prevent power crisis

Published on November 6, 2010

The Electricity Generating Authority of Thailand (Egat) has told the Energy Ministry to incorporate its planned Unit 2 of the North Bangkok power plant into the Power Development Plan (PDP) 2010 to address a possible power crisis in the next three years.


Egat governor Sutas Patamasiriwat said the state agency had urged the ministry to hasten consideration of the incorporation of the Unit 2 plant into the PDP. Unit 2, which will cost Bt20 billion, will have capacity of 800 megawatts.


Electricity consumption in May alone peaked at 24,009MW versus the estimat�ed consumption of 23,249MW for the whole year forecast in the PDP. Egat believes the Unit 2 plant could play a role to deal with the rising power demand.


Egat's concern of a shortterm power crisis stems from the delay of new power supplies for the system. Two independent power producers, Siam Energy and National Power Supply, have had to postpone supplying power from their 1.6gigawatt Bang Khla plant and 540MW power plant, respectively, by two years, to 2016.


If the ministry allows Egat to build the Unit 2 plant, it will start construction next year and will start supplying power to the system in 2015. The construction of the power plant should take four years. Any delay in the beginning of construction could add risk to national power security.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
***********************************************************************************




Property stocks drop as BoT tightens rules

Published on November 12, 2010

The stocks of major Thai residential property firms plunged yesterday in reaction to the Bank of Thailand’s plan to impose stringent lending rules for mortgage loans, a move that has alarmed a few leading figures in the industry.

While the SET Index fell for the third straight day to close at 1,029.86, Pruksa Real Estate, the country’s second biggest developer by market capitalisation, lost 6.5 per cent to Bt20, while Asian Property Development fell 7.3 per cent to Bt5.7.


Supalai, another major developer, plunged 7.9 per cent to Bt10.5.


The stock plunge followed the Bank of Thailand’s plan to impose more stringent rules on mortgage loans in a precautionary move to prevent an asset-price bubble.


The sub-index on property development stocks fell 2.9 per cent yesterday.


According to real-estate executives, the new rules are expected to take effect on January 1, 2011, subjecting commercial banks’ mortgage loans to higher reserve requirements.


The risk weighting of mortgage loans will likely increase from 35 per cent to 75-100 per cent for all residential property loans with a unit price of Bt1-10 million.


Such a weighting is used to calculate the minimum amount of capital funds required by commercial banks to support their lending.


The higher risk weighting will increase banks’ lending cost and capital requirement. Thus, borrowers will have to bear higher costs and possibly higher interest rates.


Pruksa’s director and chief business officer, Prasert Taedullayasatit, cited Bank of Thailand (BOT)’s deputy governor Kerk Wanikkul as saying earlier this week that the new rules could be effective in January once the central bank’s Financial Institutions Policy Committee switched on its green light.


Prasert said consumers will have to increase their down payment if the new rules are revised from the current 0-10 per cent to 15-20 per cent.


For example, a buyer will have to increase the budget from Bt50,000 to Bt100,000 if he or she plans to buy a Bt1-million unit.


Currently, new residential property sales in Thailand total 100,000 units annually, with 18 per cent of home-buyers getting mortgage loans amounting to 95-100 per cent of property value.


Another 13 per cent of buyers get mortgage loans amounting to 90-95 per cent of value from the lending banks.

PETITIONING THE GOVT


Prasert said that if the central bank still insisted on implementing the measures, the three property associations would consider petitioning the government to demand a rethink.


Business Housing Association president Issara Boonyoung said the BOT may revise its plan after meeting representatives of Thai Real Estate Association, Business Housing Association, and Thai Condominium Association.


According to Issara, the BOT will increase the risk weighting from 35 per cent to 75-100 per cent if down payment is less than 10 per cent.


“All the three associations have asked the BOT to revise the rules again by differentiating low-rise from high-rise residential projects as the two have different business cycles,” he said.


Condominium projects have a longer time of one-and-a-half to two years from sale to ownership transfer, while low-rise projects such as townhouse and single detached houses have a shorter cycle of 6-8 months.


According to Issara, business could drop 5-10 per cent if the new lending rules are stringent.


LPN Development’s managing director Opas Sripayak agreed that business would be down 5-10 per cent if the new rules were enforced.


This is evidenced by the company’s recent increase of down-payment requirement for Lumpini Riverside-Rama 3 project.


When down payment was up from 10 per cent to 15-20 per cent, sales dropped by 10 per cent, Opas said.


The Thai residential property market is worth Bt700 billion annually, about 8 per cent of gross domestic product, with high multiples in terms of related products such as furniture, and home appliances, etc.


Other sectors of the economy will also be affected, according to Sretha Thavisin, president of Sansiri, the second largest listed property firm.


Meanwhile, Khan Prachuabmoh, managing director of Government Housing Bank, said home-buyers will be hit by more stringent lending rules due to higher down-payment requirement.


He said the bank could help customers by providing additional loans on furnishings and amenities.


However, Khan believes that the Thai market is still alright.


For example, there is real demand for housing along Bangkok’s mass-transit routes due to high transport costs for those living in the suburbs.


Khan also suggested that the government should set up a mortgage insurance scheme to help low-income earners get mortgage loans from financial institutions.




--------------------------------------------------------------------------------
Privacy Policy © 2009 Nation Multimedia Group


November 12, 2010 04:11 am (Thai local time)
www.nationmultimedia.com

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
***********************************************************************************

THAI may mark record-breaking profits this year after EC drops case

Published on November 13, 2010

Thai Airways International (THAI) may set a new record in profits thanks to the Bt4.29 billion set aside earlier for potential European Commission liability.

The airline was already ahead of its operational target, reporting Bt19.6 billion in profits for the first nine months, including the Bt4.29 billion transferred into its revenue after the EC dropped its case on Thursday against THAI on freight collusion.


From January to September, THAI made Bt12.4 billion, higher than the entire-year projection of Bt19.6 billion.


“This year will be a new record for net profits in THAI’s history of 50 years,” said Ampon Kittiampon, chairman of the national carrier.


Yesterday, THAI reported that it was able to increase its revenue despite the global economic crisis and internal political problems by earning Bt2.9 billion in foreign exchange (forex), compared with a third-quarter loss of Bt1.13 billion last year. Third-quarter revenue totalled Bt45.41 billion, which was 16 per cent higher than the same period in 2009 by Bt6.27 billion.


Expenses, not including forex gains or losses but including profits or losses from investments, were Bt42.51 billion, which was 5.50 per cent higher than the previous year’s expenses by Bt2.23 billion.


Because of a stronger baht, THAI incurred a foreign-exchange loss of Bt2.77 billion, but gained Bt136 million or Bt0.08 per share, which was higher than the same period in 2009, during which it recorded losses of Bt4.03 billion or Bt2.37 per share.


During the third quarter, cabin factor averaged 74.7 per cent, higher than the same period in 2009, which averaged at 73.9 per cent. The freight load factor averaged 61.3 per cent, higher than the previous year’s average of 53.8 per cent.


As of September 30, THAI and its subsidiaries’ combined assets totalled Bt281.26 billion, an increase of Bt9.57 billion from the end of last year.


The company’s board has agreed to have THAI obtain a short-term loan of Bt3 billion for three years from Siam Commercial Bank. The board has also acknowledged the progress of the Mutual Separation Plan for 2010, with the budget for this plan set at Bt2.3 billion.


The board also approved the establishment of a new joint-venture budget airline, Thai Tiger Airways. Details of the investment will be finalised next Friday.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
***********************************************************************************




Banpu sells off shares in Ratch to focus on coal, Australia

Published on November 20, 2010

Thailand’s largest coal miner Banpu and its subsidiary Banpu Power have sold all their shares in Ratchaburi Electricity Generating Holding for Bt6.679 billion, as it wants to pursue its long-term strategic plan focusing on coal and coal-related businesses.

Chief financial officer Somruedee Chaimongkol yesterday said the company and the subsidiary had sold 202.4 million shares in Ratch, accounting for 13.96 per cent of Ratch’s issued and paid-up capital, priced at Bt33 per share, to local and foreign investors. Banpu no longer holds shares in Ratch.


Somruedee said the company would look for opportunities to invest in coal and coal-related businesses that may arise from time to time.


Asia Plus Securities said in its research that Banpu would book profit of Bt3.61 billion from this divestment immediately in the final quarter of this year.


The broker believes that the company will use the money to buy coal mines in Australia through Centennial, which the company is in the process of acquiring.


Somruedee said Banpu controlled 98.5 per cent of Centennial’s outstanding shares.


It is in the process of acquiring the remaining shares, at which point it will de-list Centennial from Australia’s stock exchange.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
***********************************************************************************

KBank targets value chain, green business in 2011

Published on November 24, 2010

Kasikornbank is aiming for a 19 per cent increase in revenue to Bt16 billion next year via business with large corporations and by focusing on value chain and comprehensive financial solutions, as well as on green businesses, such as renewable energy projects.



In Photo: Kasikornbank executives including Vasin Vanichvoranun, executive vice president, 3rd from right, are bullish on the outlook of its lending to large-sized corporate clients next year.



Of the total revenue, the bank aims to bring its non-interest income, including fees and deposits, to 45 per cent, close to the 55 per cent it gets from interest income, KBank's executive vice president Vasin Vanichvoranun said. Of this year's revenue, 57 per cent came from interest income and the remainder from non-interest income.


Next year's outstanding loans for large corporate business could rise by 5 per cent to Bt330 billion from this year's estimate of Bt300 billion to Bt310 billion. The bank expects its loans from value enhancement and comprehensive financial solutions, as well as green business to grow by 20-25 per cent each. Its outstanding loans from value chain and green business amount to Bt30 and Bt15 billion, respectively. The bank's corporate customers' sales range from Bt400 million to Bt5 billion.


Value chain covers cross-segmentation businesses like payment solutions, gold purchase cards and tax payment for land, while green business covers renewable energy as one of the top global business trends, which includes more non-tariff barriers, volatile financial and commodity markets, and changing consumer behaviour and preferences. "Green business still has a very bright outlook," Varin said.


Apart from focusing on value chain and green business, the bank will continue emphasising offshore as well as inbound and outbound businesses, especially with China and Japan, he said.


The bank's trade turnover is expected to rise by 17 per cent next year to Bt2.1 trillion. Its deposit is likely to increase by 16 per cent to Bt237 billion.


Currently, the bank holds around 20 per cent share of Thailand's commercial banks for large corporate business with the expectation to capture 20-21 per cent next year, he said.


*************************************************************

ENERGY
PTTEP looks to close collaboration with Statoil

Published on November 24, 2010

PTT Exploration and Production expects to forge a close relationship with Norway's national oil company, Statoil, looking for co-investment in unconventional oil and gas exploration and production projects as well as in existing projects.
This follows PTTEP's first equity participation in Canada, also its largest-ever acquisition at US$2.28 billion (Bt68.5 billion), in Statoil's Kai Kos Dehseh (KKD) oil-sands project.

Statoil Canada Holdings will retain a 60-per cent stake in the project.


President and CEO Anon Sirisaengtaksin yesterday said PTTEP and Statoil were discussing further cooperation, which could entail oil and gas exploration and production in new locations, or in existing projects.


Although PTTEP has invested a huge sum in acquiring a 40-per-cent stake in KKD, the company is confident that its current cash on hand, and average earnings before interest, tax, depreciation and amortisation of Bt100 billion per year, will support any new co-investment with Statoil.


Their focus in the possible collaboration is in unconventional oil and gas exploration and production, such as heavy oil, extra-heavy oil and oil sands, which account for 15 per cent, 25 per cent and 30 per cent, respectively, in terms of oil and gas resources worldwide.


PTTEP is seeking partners to partly purchase shares in the M9 block, the oil and gas project in Burma for which it was granted a concession by the Burmese government. However, Anon said Statoil had yet to show an interest in investing in the project.


He said the future collaboration with Statoil was part of its plan to have oil and gas production of 900,000 barrels per day by 2020.


PTTEP yesterday announced its planned acquisition of the 40-per-cent stake in KKD.


Asia Plus Securities said the move was in line with the plan to increase PTTEP's oil and gas stock to serve growth. The company has the ability to finance such deals, with cash flow of Bt60 billion. It also plans to issue a debenture overseas and take out loans in order to invest in the transaction.


Anon said the KKD deal would expand PTTEP's opportunity to explore and produce unconventional oil and gas in Canada, which is the second-largest production site in the world.


Statoil was a partner of PTTEP in the preliminary stage of Bongkot field oil and gas exploration and production, but withdrew its investment a decade ago.


Anon said PTTEP would immediately generate revenue and profit from KKD next year, as the transaction would be completed early in 2011. However, it cannot reveal the expected figures at the moment, as it is waiting for approval from the Canadian government.


KKD has developed five oil-sand blocks in Canada. The independent consultant of the project has assessed that the blocks will have recoverable bitumen resources of 4.3 billion barrels over the production period of more than 40 years.


He said KKD would run production of 10,000 barrels per day, rising to 20,000 by 2012. The company expects to run at the maximum production of 300,000 barrels per day by 2020.


Chatchawal Eimsiri, executive vice president for finance and accounting group, said the source of funding in acquiring the KKD stake would come from the company's cash, a syndicated loan and bonds.


The company has cash on hand of $1.5 billion, and will spend $1 billion for the investment in the project. It will sign a syndicated loan agreement worth $500 million with three Japanese banks and one Singaporean bank soon, and will issue a bond worth $800 million to sell to overseas investors, he said.


Presently, PTTEP's net debt-to-equity ratio is 0.4 times. After it issues the bond and borrows from banks, this will rise to 0.5-0.6 times. The company therefore still has the potential to borrow for new investment projects in the future.

**********************************************************************************

No sign of bubble, developers insist

Published on November 22, 2010

Developers believe that the property market shows no signs of a bubble even though most of them have launched residential projects with a combined 60,500 units worth more than Bt200 billion from January to November 14.

However, the Bank of Thailand’s move to cap the loan-to-value ratio at 90 per cent for condominiums, effective on January 1, and 95 per cent for low-rises, effective on January 1, 2012, will brake real-estate growth next year, they said yesterday.

At a seminar conducted by the Real Estate Information Centre (REIC), the Thai Condominium Association, the Thai Real Estate Association and the Business Housing Association, they called on the central bank to join with the REIC and make use of its database before launching restrictions to sedate the market.

Thumrong Panyasakulwong, president of the Thai Condominium Association, said that if the central bank was convinced that the property market is overheated, it should use another approach to regulate the market. The loan-to-value measure would not produce the results intended by the central bank.



The association does not see the property market, especially the condo segment, heading for a crash because commercial banks now have limited project loans for developers and mortgages for home-buyers. This process can control the market.

The real-estate market is dominated by 10 developers, as there are fewer small and medium players in the market than before the financial crisis of 1997. That leads the association to conclude that the current market is not facing a bubble problem, he said.

Issara Boonyong, president of the Business Housing Association, said that in the first nine months of this year only 23,000 new condo units were registered. That figure is lower than the 29,000 registrations for new low-rise residences, including single-family homes, townhouses and duplexes. That shows that the condo market continues to be smaller than before the financial crisis of 1997.

Total residential registrations, combining new and resale units, were up by only 6,000 units to 136,000 units in the first nine months of this year from the same period last year.

"We believe that total residential registrations, for both new and resale homes, will reach 170,000 units by year-end, with 49 per cent from resales and the rest from new sales," Issara said. "That is only 5 per cent above last year and still lower than the financial crisis in 1997, so we don’t believe that the property market is experiencing a bubble."

However, the central bank measure may stall growth in the property market next year, he added.

Advice to BOT

If the authorities want to restrain the property market, they need to cooperate and get information from the REIC and other organisations that do surveys and research on the market before making a decision to launch any measure that would kill off this sector, he said.

Kittipol Pramote na Ayudhya, president of the Thai Real Estate Association, said the property market in the second half of this year had under-performed the first half after the tax incentive expired. However, foreign investors have returned to the residential market.

The central bank measure will sweep speculators out of the market, but leave real demand untouched, he said.

Samma Kitsin, director-general of the REIC, said the condo inventory in the market was now only 27,700 units out of the 120,700 units put on sale in the first half of this year.

However, from July until mid-November, new condo projects have added 40,500 units to the supply.

The popular locations are Huai Khwang with 9,500 units, followed by Chatuchak with 8,900 units, Klong San with 5,000, Bang Phlat with 4,900 and Watthana with 4,800.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO

***********************************************************
Tipco food firm aims to double Asean business by 2015

Published on November 26, 2010

Tipco Foods (Thailand), a leading food and beverage manufacturer, plans to double its Asean business from 4 per cent of its overall sales to about 10 per cent by 2015 when the Asean Economic Community (AEC) is fully implemented.



The move is in line with Tipco's vision to become the leading compaฌny in Southeast Asia marketing bevฌerages, fruits, vegetables and other foods that can fulfil healthconscious customer's needs.


The company also plans to set up factories of its flagship products, including fruit juices, cereals and functional drinks, in potential marฌkets in the region, including Vietnam, the Philippines and Indonesia, in the next five years.


Viwat Limsakdakul, chief execuฌtive officer and director of Tipco Foods (Thailand), said the company expected its exports to Asean counฌtries to grow by 50 per cent this year, and by another 30 per cent in 2011.


The growth is driven by the comฌpany's success in exporting products into new Asean markets such as Indonesia and the Philippines.


"With the AEC, which will be fully effective in 2015, Asean will impleฌment 100percent free trade. As a business, we have to find a good stratฌegy to promote exports of our food and beverage products to Asean as much as possible. We need to improve our competitiveness in the region," Viwat said.


Chanchai Kanjanaratmanee, marฌketing director of beverage business Tipco F&B, said that an Asean Team had been formed to appoint and develop sales agents within the region as well as launching new products, conducting market research and doing feasibility studies on setting up factories in Asean countries.


Viwat said Tipco Foods (Thailand) expected to achieve Bt5 billion in overall sales this year, up 10 per cent over last year. Of the overall sales, about 37 per cent were from fruit juices, another 5 per cent from Aura mineral water, and the rest from cereฌals and functional drinks.


"We are facing bigger difficulty in the export business due to the baht's appreciation, which has caused our export sales to drop by 10 per cent. The drought has also caused the prices of fruits to increase by 20 per cent," said Viwat.


He said the sales contribution from exports dropped from 50 per cent last year to about 45 per cent expected for this year.


Viwat said the company had invested about Bt20 million in a new filling machine to be installed at the Aura bottling plant in Mae Rim disฌtrict in Chiang Mai.


It is Tipco's first major investment in the plant after the company bought the Aura mineralwater business from a company named Toraneepipat, owned by Techapaiboon and MR Thanadsri Sawasdiwat, in 2005.


Founded in 1995, the Aura plant bottles natural spring water with sophisticated "ozonation" sterilising and hyperfilter technology from France.


On an 80rai (12.8hectare) plot, the plant now produces about 200,000 500millilitre bottles per day.


Viwat said that the filling machine would start operation by the middle of next year and would increase the plant's production capacity by 50 per cent.


"We plan to invest another Bt100 million installing blowing machines at the Aura plant in the next one or two years," Viwat said.


Viwat said the overall mineralwater market in Thailand was anticฌipated to increase by between 10 and 15 per cent this year to about Bt1.3 bilฌlion. Aura has about 29 per cent of the market, second to Minere of Nestle (Thai).


He said Tipco would also invest about Bt100 million in new producฌtion technology for its cereals and fruit juices, which would allow conฌsumers to enjoy better nutrition and natural benefits.


"We will also launch a new funcฌtionaldrink category next year to be produced under the Dakara brand launched locally by a jointventure company between Tipco Foods and Suntory of Japan."

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
**************************************************************************************

Tourism to see drop of 10-15%

Published on December 1, 2010

The tourism business is expected to record a drop of 10-15 per cent this year mainly due to the political turbulence midyear, but the future appears bright for 2011.

Prakit Chinamourphong, president of the Thai Hotels Association (THA), said overall tourism should record a drop of 10-15 per cent both in the number of tourists and revenue compared with last year.


"The political problems … were the key factors in the drop," he said.


Tourism in the first quarter saw very high growth, but sharply dropped after the political crisis in May when red-shirt protesters damaged several public sites. The business had recovered by the third quarter, before plunging again in October because of heavy flooding in many provinces.


Prakit said tourism revenue also dropped as hotel operators cut room rates and offered packages to lure customers back.


He said the number of foreign visitors should resume a high growth rate in the coming year if there is no political tension. Many tourists are expected to return to the Kingdom, especially from Japan, China and Russia, after cancelling trips planned for this year.


Moreover, many tourism operators signed contracts with foreign firms at the World Travel Mart held in London recently.


Apichart Sankry, adviser to the Association of Thai Travel Agents, said tourism would grow significantly if there were no further political chaos.


This year, ATTA forecast that total arrivals would be 12 million, lower than the official target of 14.5 million.


"ATTA agrees with THA that tourists will return to Thailand next year," he said.


According to THA and ATTA, more international travellers will head directly to Phuket, as many airlines have started direct flights to the island. As a result of that move, the number of tourists visiting Bangkok will see flat growth.


In a separate matter, Informa Yacht Group and the Thailand Convention and Exhibition Bureau plan to host Asia 's largest boat show from January 6-9 in Phuket.


The Phuket International Boat Show (PIMEX) is expected to help boost in-water business in the country, particularly in Phuket. The event is the largest marine show in the region, with record sales and visitor numbers for eight consecutive years.


For the past two years, the marine leisure industry has generated revenue exceeding Bt8 billion for Phuket.


Andy Dowden, director of Informa Yacht Group, said it aimed for more than Bt1 billion in sales at next year's event.


Global brands, brokers and marine service providers will join local builders in Phuket to showcase boats ranging from 6 metres to more than 30 - day boats, luxury cruisers and yachts, both power and sail. Meanwhile, three luxury international automobile brands, Jaguar, Lexus and Land Rover, will exhibit onshore.


Last year's PIMEX hosted more than 85 companies and featured 34 yachts in-water. The 2011 show expects 6,000 participants over four days, including more than 2,000 trade visitors.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
**************************************************************************************


Banpu to increase export portion of Centennial Coal

Published on December 7, 2010

Thailand's largest coal-mining firm, Banpu, will gradually increase the export portion of Centennial Coal, so it can benefit from the world market's spot prices.

Chief financial officer Somruedee Chaimongkol said last week that two-thirds of Centennial's sales volume currently served coal-fired power plants in Australia, and that it wanted to balance the proportion between domestic and export markets by 2012. Therefore, if contracts in the domestic market expire, Banpu will move to secure export contracts instead.


Banpu has already acquired a 100-per-cent stake in Centennial and is in the process of de-listing it from the Australian stock exchange. It is studying Centennial's operations with the help of the existing management team and it should have a clear picture of the company's business plan by May.


Somruedee said Banpu's output next year would increase after it acquires the new business in Australia. Its mines in Indonesia are expected to produce 26 million tonnes of coal, while its two mines in China will offer a combined output of 5.5 million tonnes, according to the operating licence. Centennial produced and sold 14.5 tonnes of coal in the fiscal year that ended this June, and is expect?ed to produce no less than that amount this fiscal year.


Banpu is in the process of changing Centennial's calendar year to match its own.


Chanin Vongkusolkit, Banpu's chief executive officer, said recently that the price of coal would most likely rise in the world markets. The price currently stands at around US$111 (Bt3,330) per tonne because of a drop in production volume in Australia and Indonesia due to flooding and climate change.


Chanin said Banpu had decided to have around 85 per cent of its assets related to the coal business by 2015. Its cur?rent assets related to the coal business stand at around 60 to 65 per cent, but after it adds Centennial to its portfolio, the proportion should rise to 70 per cent.


"Banpu has room to acquire more coal mines or increase the output of existing mines so we can boost our assets in coal-related business to 85 per cent," she said.


Banpu recently sold all its shares in Ratchaburi Electricity Generating Holding for Bt6.679 billion. Ratchaburi Holding was not part of Banpu's long-term investment plans because it operates gas-fired power plants.


Chanin said earlier that Banpu would look for an oppor?tunity to acquire more coal mines now that it has sold its shares in the gas-fired power plant business.


++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
TUF ACQUISITION
Absorption of MW brands to take time

Published on December 7, 2010

Thai Union Frozen Products will take one to two years to integrate MW Brands Holdings, which it recently took over, with its current businesses and to reduce its debt-to-equity ratio to 1 time before pursuing more acquisitions overseas.

Thiraphong Chansiri, president of the major manufacturer and exporter of canned and frozen seafood, said mergers and acquisitions (M&A) were part of TUF's growth strategy, but the purchase of MW Brands, a leading European ambient seafood manufacturer, has multiplied its debt load.


The company has to focus on reducing its D/E ratio to 1 time within two to three years.


"The income from MW will pay off the debt. We expect the impressive performance of MW will help boost gross revenue next year by more than 30 per cent," he said.


The European market will account for one-third of TUF's total revenues after MW Brands is meshed with current operations, instead of 11 per cent now. Revenue from the United States, which is a major market, will be reduced to 38 per cent from 48 per cent.


TUF's major markets are the US, Japan, Europe, Africa, Oceania, Asia, the Middle East, Canada and South America.


Balancing the market portfolio will help reduce risk. The company can also benefit by importing various raw materials from the overseas subsidiaries while the baht is appreciating.


The outlook for the Thai food industry is still bright, as exporters can successfully adjust to the stronger baht and demand in the global market is fattening up.


TUF has set a capital-expenditure budget of Bt2.7 billion to boost the productivity of its subsidiaries.


"We have no need to spend huge money on expanding capacity because our plants now are big enough. We aim to improve productivity as well as synergy with overseas businesses to achieve the revenue-growth target of more than 30 per cent a year," Thiraphong said.


The company recently acquired US-based Pet Nutrition for US$10 million (Bt305 billion) to expand its cat-food business from the current 10 per cent of revenue to 11-12 per cent next year.


Ayudhya Securities said in a research note that the stronger baht this year to next year would erode the gross profit margin of TUF. The higher cost of raw materials such as tuna and shrimp was also eating into TUF's gross margin.


The brokerage revised TUF's earnings down for this year by 31 per cent and for next year by 16 per cent.


TUF earned Bt2.52 billion in the first nine months of this year on revenue of Bt52 billion, compared with Bt3.34 billion on revenue of Bt69.74 last year.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
********************************************************************

CPF 5year plan for 10% annual growth shifts focus overseas

Published on December 15, 2010

Charoen Pokphand Foods has mapped out a fiveyear, Bt30billion investment plan aimed at achieving sustainable growth of 10 per cent per year with revenue balanced between foreign and domestic markets.





"We foresee that our overseas business will generate more income than the domestic market in the future, making it our main source of income," president Adirek Sripratak said yesterday.

Net profit under the plan is expected to rise an average of 510 per cent per year.

Of the total investment, 60 per cent will go abroad and the rest will stay in the domestic market.

The purchase of livestock and aquatic plants in Bangladesh and Cambodia will be completed early next year.

The company sees more opportunities abroad, as the domestic market is saturated.

Offshore investment next year will target four countries - India, Russia, the Philippines and Vietnam.

The company's strategy in Vietnam focuses on both the livestock and aquaculture businesses. It was designed to ensure that the company develops an integrated business, from feed to farm to food products.

In India, expansion will be mainly in feed mills to serve rising demand.

The company has already invested in 10 countries and exports to 40 nations.

CPF's foreignexchange income accounts for 27 per cent or Bt50 billion of its projected total sales of between Bt180 billion and Bt190 billion this year. It is forecast that income from its overseas business will grow by an average of 20 per cent per year.

Sales from the domestic market are targeted to reach Bt100 billion this year.

The stronger baht has not affected the company's performance, as its exports and imports are almost balanced, at Bt25 billion versus Bt20 billion, Adirek said.

[Welju_Grouv]

Antwort auf Beitrag Nr.: 40.711.879 von schmithi am 15.12.10 06:19:50

Net profit under the plan is expected to rise an average of 510 per cent per year.

5-10%

[ThaiClaus]

Indorama plans $3.8bn expansion

PET film demand skyrockets globally
Published: 18/12/2010 at 12:00 AM
Newspaper section: Business

Indorama Ventures Ltd Plc (IVL), one of the world's largest integrated producers of polyester, has increased its investment budget until 2014 by 90% to around US$3.8 billion to better serve expected polyethylene terephthalate (PET) film demand.

"We aim to be the undisputed leader in this industry through scaling, innovation and branding," said Aloke Lohia, the group chief executive officer, during a shareholders' meeting.

Earlier, IVL had set its investment budget of $2 billion for five years ending in 2014 with the goal of doubling its global combined capacity of 3.2 million tonnes. Its target has since expanded to 10 million tonnes.

"We had to weigh the issue at that time and the company had to be conservative in its announcements," Mr Lohia said, adding that with the deals that were lined up the company would likely be able to achieve its target.

Its focus will be emerging markets, where IVL recently acquired assets in Poland and Indonesia.

The company said early this month it would acquire a full stake in SK Eurochem in Poland and Indonesia's SK Keris with SK Fibre Indonesia.

It also announced earlier its plans to acquire assets in markets such as China, while also looking at starting up greenfield plants in India.

The company received approval from the shareholders' meeting yesterday to raise capital by issuing transferrable subscription rights (TSR). The TSRs would be converted into 481,585,672 newly issued shares at the rate of 36 baht a share by existing shareholders at a ratio of 9:1.

The funds are to be used for various expansions the company was looking to undertake over the next few years.

Of the total, $900 million will go to finance the acquisitions and greenfield projects to which the company has committed, while part is expected to be used in setting up Indian operations slated to start next year.

"The remaining $2.9 billion will be used between 2011 and 2014, and no more capital will be issued," he said.

Demand for polyester chain remains strong as it is becoming a substitute for cotton in clothing and aluminium foil in packaging.

"The acquisition costs have been lower than the cost of the assets the company has at this point," he said.

Mr Lohia, whose family owns about 70% of IVL, said the family would subscribe to the newly issued TSR.

The company plans to maintain its debt-to-equity ratio at 1:1 while keeping the return on capital employed at steady rates of more than 16% that it has generated over the past seven quarters.

Shares of IVL closed down one baht yesterday on the SET at 56.50 baht in trade worth 1.44 billion baht.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
********************************************************************

YEAR-END SPECIAL
Slower growth expected
By Wichit Chaitrong
The Nation
Published on December 21, 2010

A much tougher 2011 is expected after this year's impressive performance by the Thai economy, which is forecast to have expanded by between 7 and 7.5 per cent.

Many research houses have predicted economic growth next year will be in the region of 4 to 5 per cent, largely due to a slowdown in exports resulting from a debt hangover in Europe and the weakening recovery in the United States.

The government has high hopes that domestic consumption and investment will substitute to a large extent for any deceleration in exports. It plans budget deficits for the current fiscal year, which runs until September 2011, and the next fiscal year.

Budget deficits are planned to continue until 2016, largely due to rising current spending on matters such as salaries for civil servants and medical bills and the need to invest more in infrastructure, including double-track rail lines, high-speed trains and mass transit.

Moreover, the government has agreed this year to increase wages across sectors ranging from minimum wages to the salaries of civil servants and politicians



Leading up to a general election next year, Prime Minister Abhisit Vejjajiva and Finance Minister Korn Chatikavanij will soon launch a new economic package aimed at supporting the grass roots via social welfare and state-bank loans.

The Pracha Wiwat (Delivering People's Priorities) package, which Korn said would account for 1.5 per cent of government expenditure next year, is expected to shore up domestic consumption as well as narrow the wide income gap between the rich and the poor.

However, critics view the new package suspiciously, fearing that the government is merely throwing public resources at voters in a bid to win political popularity ahead of the election.

"Wasting public resources is a matter of concern, as it could also lead to a bad-credit culture, when people get easy money from state banks," said Teerana Bhongmakapat, dean of Chulalongkorn University's Faculty of Economics.

Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organisations, said the package was small and would not have a significant impact on the economy. He said it would only serve to brighten the government's image.

In defence of the package, Korn said the government had to take care of 24 million workers who are currently not covered by the social-welfare scheme, and many of whom have difficulty accessing credit.

"When the government does not have such a programme, the media blame us for not taking care of the poor, but when we do it, you brand it negatively as populist policies," he said.

While public investment will play an important role if the government can speed up project implementation, experience suggests that investment projects are often delayed.

The problem of complex legal processes delaying projects is expected to be tackled by the government next year if it is re-elected. However, hidden factors such as corruption also hold up project implementation, and these are issues that will not go away.

Fiscal policy will play a key role next year, while monetary policy has its limitations due to the threat of inflationary pressure and further capital inflows.

Korn, who usually works smoothly with the Bank of Thailand, is unhappy with the central bank's latest interest-rate hike. "It could negatively impact economic growth," he said.

As the central bank and the government have different objectives in managing the economy, unfavourable economic conditions could spark a serious conflict. The government wants higher growth over the short term, while the central bank seeks economic stability, which sometime means sacrificing high short-term growth.

The market expects the central bank to increase the policy interest rate further next year, by 75-100 basis points from the current 2 per cent, which would lead to an increase in commercial-bank lending rates and higher financial costs for both businesses and consumers. Higher interest rates are also clearly in the picture in an attempt to rein in rising food prices.

At the Monetary Policy Committee's meeting on January 12, the impacts of the Pracha Wiwat scheme on inflation will also be in focus. As this should lead to higher spending, which should somewhat absorb the drop in exports next year, inflation could be driven up, and hence prompt an even greater rate increase.

However, the dilemma is that higher interest rates will attract more capital inflows, which would lead to further appreciation of the baht against the US dollar.

Capital inflows are also expected to continue next year, as the United States is weakening its currency to drive the domestic economy. Foreign funds will flow to markets that offer high yields, including emerging markets such as Thailand. The baht has risen by more than 10 per cent against the greenback this year.

Korn believes capital inflows will mean trouble for exporters, in particular small and medium-sized enterprises. He expects the US Federal Reserve will inject more liquidity into the economy, and that part of the funds will flow to Thailand.

Many exporters and economists blame the central bank and the government for allowing the baht to strengthen so dramatically this year.

Bank of Thailand Governor Prasarn Trairatvorakul, however, has warned exporters that they should not hold false hopes that the authorities can go against market forces.

Managing the exchange rate is one of the biggest challenges next year, and one that will have an impact on economic growth.

"The government and the central bank have to agree first that capital inflows do more harm than good to the economy," said Ammar Siamwalla, a prominent economist at the Thailand Development Research Institute.

Supavud Saicheua, managing director of Phatra Securities, said: "Eventually, the central bank will impose capital controls on inflows, since it will not be able to further withstand a worsening of its balance sheet resulting from previous market interventions."

However, the relatively high prices of Thai financial assets and the slower economic growth rate might not invite the capital flows that economists and policy-makers fear, Teerana said.

"Infrastructure investment projects, railway tracks and mass-transit schemes can crowd in private investment next year, if planned wisely. But I don't see a clear plan of how the government will integrate city development with such rail projects," he said.

Rail projects, in particular linking southern China to southern Thailand, could suck resources into China or lead to expansion of cities in China and Malaysia, while they might be of little benefit to Thailand, he warned.





Table: Economic Health

Thailand is destined towards a slower growth rate next year, chiefly with a drop in exports, which currently constitute more than 60 per cent of GDP. Here are key projections.

Item/ NESDB/UBS/Standard Chartered/HSBC/Bank of Thailand

GDP/3.5-4.5/4/4.4/5.3/3-5

Total consumption/4.1/3.8/na/na/na

Exports/11.7/0.6/10/na/na

Imports/13.4/-1.2/na/na/na

Inflation/2.5-3.5/2.3/3.7/3.6/3-5

Source: Compiled by The Nation


***************************************************************************************

TUF to move some MW production from Europe to Thailand

Published on December 21, 2010

Thai Union Frozen Products will transfer some of MW Brands Holdings' product lines, including highvalueadded products, from Europe to Thailand, leaving MW Brands to distribute only to the European market.


The move is part of TUF's plan to merge MW Brands, which it recently took over, into its worldwide seafood operations, TUF president Thiraphong Chansiri said yesterday.

MW Brands' plants will be made the base for tapping the European market to avoid the stiff 24percent import duty.

TUF also wants MW Brands to expand its exports in the European market from only five countries at present.

The market there comprises 27 countries, which means MW Brands has room to grow. Its exports should be increased to 10 per cent of its sales in the near future from 6 per cent now.

TUF's plants will be the manufacturing base for markets outside Europe, such as North and South America, Japan, Africa, Asia and the Middle East.

TUF has plants in Thailand, Vietnam, Indonesia, India, Papua New Guinea and the US state of Georgia, while MW Brands is in France, Portugal, Ghana and Seychelles.

After MW Brands is consolidated, the European market will become a major revenue contributor like the United States. Europe will grow to 33 per cent of sales from 11 per cent, and the US will be reduced to 38 per cent from 50 per cent.

TUF's fishing fleet will be boosted to nine vessels from four. All vessels will be gathered in the Atlantic Ocean, giving TUF better bargaining power to secure raw materials.

"The supply of tuna will be 500,000 tonnes per year, up from 300,000 tonnes. With the synergy, the nine vessels will help TUF to manage the procurement process as well as to save on fishpurchasing costs," Thiraphong said.

TUF expects the consolidation of MW Brands to increase its sales by 30 per cent in 2011, add 12 percentage points to its current gross profit margin of 1416 per cent and lend impetus to earningspershare growth.

The acquisition of MW Brands will catapult TUF's gross sales to US$4 billion by 2015 from the $2.8 billion (Bt84.5 billion) expected next year. However, MW Brands has also multiplied TUF's debt load, forcing it to change its dividend payment policy.

TUF plans to pay out total dividends of Bt1.2 billion next year, declining from Bt1.6 billion this year. Dividend per share next year is expected to drop to Bt1.20 from Bt2.

The company wants to focus on managing cash flow as well as reducing its debttoequity (D/E) ratio to 1, from 1.7, and its debt/EBITDA (earnings before interest, taxes, depreciation and amortisation) to 2.5 from 4.25.

The dividendpayment ratio will return to normal within three years when D/E is 1 and debt/EBITDA is 2.5.

TUF has total debts of between Bt38 billion and Bt40 billion, of which about Bt15 billion will be repaid to financial institutions within three years, Thiraphong said.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
********************************************************************


PTT board approves 5-year investment plan

Published on December 25, 2010

PTT's board of directors, led by ener?gy permanent secretary Norkun Sitthiphong, who resigned yesterday as the company's chairman, approved a five-year investment plan (2011-15) worth Bt327.038 billion.

Prasert Bunsumpun, president and chief executive officer, said in a filing to the Stock Exchange of Thailand that the budget comprised Bt228.789 billion for approved proj?ects and Bt98.249 billion for upcom?ing opportunities, mainly in joint ventures and natural gas.

He said that about 51 per cent of the five-year investment budget would go to joint ventures worth Bt166.281 billion, mostly next year.

The investment for natural gas is Bt127.630 billion, accounting for 39 per cent of the total. PTT will invest Bt12.420 billion in oil business, roughly 4 per cent of the total, dur?ing the next five years. The remain?ing Bt20.707 billion, accounting for 6 per cent, will be invested in the head office and other items.

Most of the investment will be in 2011, totalling Bt94.809 billion.

Prasert said PTT would have to invest in the onshore natural-gas pipeline, the gas-separation project, and the construction of pipelines to deliver natural gas to customers. Meanwhile, it will invest in its joint ventures PTT LNG, PTT Green Energy and other international ener?gy businesses.

Norkun yesterday submitted his resignation as the company's chair?man, effective immediately, to follow Prime Minister Abhisit Vejjajiva's policy of avoiding conflicts of inter?est. However, he will maintain his directorship in the company.

As the permanent secretary of the Energy Ministry, he supervises ener?gy regulations and thus should not sit on the board of directors of any pri?vate company that is subject to the rules and regulations, he said.

Besides, he said that in his official capacity, there were many issues deserving more attention such as renewable energy, ethanol and power plants. Asked whether he would also resign as chairman of PTT's sub?sidiaries PTT Aromatic and Refining and IRPC, he said this was not in the picture yet.

PTT's board yesterday appointed Naris Chaiyasoot, director-general of Fiscal Policy Office and a compa?ny director, as acting chairman. Naris's directorship term ends in April, and the board will then decide who will become the new chairman.


***************************************************

BBL sees bright prospects for loans

Published on December 25, 2010

Bangkok Bank expects the country's bright economic situation to boost loan expansion next year.

Executive chairman Kosit Panpiemras said loan growth in 2011 was expected to be 7 per cent, up from 5 per cent this year.

He said the economy would not be affected even if a general election were held next year.

The bank also plans to focus on personal loans.

LOAN PORTFOLIO

"We try to balance the loan portfolio to ensure overall loan growth stays on target," Kosit said.

The investment of corporate firms is also a positive indicator of the economic recovery, which will benefit lending as well, he said.

"Lending next year will be driven by investment and overseas expansion by companies."

The bank will also overweight on information-technology development.

Chansak Fuangfu, Bangkok Bank senior executive vice president, said the bank would still give importance to corporate clients, especially those investing overseas.

Corporate firms have shown impressive revenue this year, and many of those companies have the ability to expand their business overseas next year.

"We're ready to support clients who want to invest in the country and overseas," he said.

Kosit said even the new limitation on mortgages for condominiums, as proposed by the Bank of Thailand, would not dampen loan demand for the property market.

He backed the central bank's attempts to tackle any bubbles forming in the industry.

"We could not know when the bubble is happen, in my personal view, we should carefully look after …," he said.


*******************************************

AIS offers to provide service on behalf of CAT

Published on December 25, 2010

Advanced Info Service (AIS) has proposed to CAT Telecom that it provide cellular service on behalf of the state agency, which could be either on the MVNO (mobile virtual network operator) or reseller basis.

The move came on Thursday, the same day the CAT board approved in principle creating a new contract for TrueMove to resell its cellular service nationwide once TrueMove's parent company, True Corp, concludes talks with Hutchison Telecom to buy the latter's CDMA (code division multiple access) 2000-1 cellular network in 25 provinces.

AIS chief executive officer Wichien Mektrakarn said all telecom operators had to try everything within their means to survive during this period of regulatory uncertainty.

CAT plans to allow TrueMove to resell its cellular service for 14 and a half years. This will give TrueMove a new lease of life when its concession ends in 2013.

The concessions of AIS and Total Access Communications will end in 2015 and 2018 respectively.

A telecom analyst said that if there were an attempt by any party to delay the availability of the 3G (third-generation) licences on the 2.1-gigahertz spectrum for telecom operators until 2015, AIS would be in difficulty.

However, a telecom executive said AIS would definitely ask its concession owner TOT to allow it to lease the network to continue to provide the service after the concession ends in case the 3G licence is not available until 2015. This is one option for continuing the business.

The process of forming the National Broadcasting and Telecommunications Commission will begin in the new year but no one can guarantee when it will be in a position to grant new spectra to telecom operators.

AIS has asked TOT to allow it to roam with the state agency's 3G network to provide service to its 50,000 customers. TOT is expected to give the approval next year.

However, it remains to be seen whether CAT will allow AIS or any telecom operators to be its MVNOs.

The National Telecommunications Commission (NTC) has determined that the MVNO business contradicts Section 46 (2) of the new Frequency Allocation Law.

The law stipulates that licence-holders have to operate their own spectra to provide service on their own. They cannot grant partial or whole rights to others to operate the spectra on their behalf.

The NTC will consult the Council of State regarding the effect of the law on MVNOs that have leased airtime and the network of telecom operators to provide service.

This week, CAT chief executive officer Jirayuth Rungsrithong said either the resale or MVNO option could be undertaken if the CAT brand is used to show that it is CAT that operates the spectrum and service.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE

**********************************************************************************
Aust acquisition furthers Banpu's goal

Published on December 31, 2010

A successful acquisition in Australia has encouraged Banpu, Thailand's biggest coal-mining operator, to progress further on its six-year business plan that maps out sustainable profit, business growth and becoming a regional player in the energy sector.

Through the plan, which will end in 2015, the company's coal mines as the core business will control the lion's share of its enterprise value, accounting for 85 per cent, followed by electricity at 12 per cent and new energy (wind power and bio-energy) at 2-3 per cent.

The company's sales revenue is also set to grow by an average of 10-15 per cent by the end of the plan. However, it has already achieved annual average growth of 12-13 per cent.

As the country's biggest coal miner, Banpu now operates three plants in strategic areas - Indonesia, China and Australia. Indonesia and Australia each generate 30-35 per cent of the company's revenue, with China accounting for the rest. Production in Indonesia reached 21 million tonnes this year, lower than its target of 23 million tonnes because of heavy rain, and Australia achieved 14.5 million tonnes.

The expansion in Australia is expected to boost Banpu's revenue by 40 per cent next year.

"Indonesia has great potential for business expansion and the company expects to buy additional mines next year to raise its coal reserves in two or three other countries that have business potential," said Chanin Vongkusolkit, chief executive officer of the company.

Chanin did not name potential countries for the new investment, but noted that South Africa and nearby countries still had abundant resources.

Banpu took over Australia's Centennial Coal in a deal worth US$2 billion (Bt60 billion) in July, and last quarter it made a huge gain from the sale of an 8.72-per-cent stake in Indonesian coal supplier PT Indo Tambangraya Megah (ITM). The gain accounted for 88 per cent of third-quarter net profit, boosting the quarterly net to Bt13.29 billion, up from Bt3.81 billion in the same quarter last year.

So far, the company operates five mines in Indonesia, three in China and 10 in Australia after the Centennial acquisition.

Chanin said the company predicted that the coal business in the future would carry small risks, while strong development and support factors would strengthen competitiveness.

With Centennial Coal, it has created good synergy of the all sides of the operation: mining techniques, logistics, safety and high quality of the end product.

"It is a must to ensure better profit and growth of our business in Australia, which will be Banpu's main supply source," Chanin said.

The company is also considering its business direction in China, where demand for coal is growing along with the economy.

Chanin foresees India as a market rather than a resource base, as the coal business there has come under the government's protection.

Chanin plans to issue bonds in 2011 of more than five-year maturity, mostly in dollars, to facilitate its business expansion in the future. In addition, the company plans to spend $140 million in 2011, of which $120 million would be spent on developing existing mines in Indonesia and the remaining $20 million in China.

Banpu's revenue for this year is expected to be about Bt60 billion. In the first nine months of 2010, the company reported revenue of Bt43.8 billion.

Chanin said unusually high rainfall this year both in Indonesia and Australia would affect production through the first half of 2011. As a result, the coal price will continue to increase in the period. Other factors driving business growth include growing economies in emerging markets such as India and China.

If production in Indonesia from May to October 2011 returns to normal, the coal price will drop, Chanin noted.


*************************************************************************************

Exports, tourism boosted economy in November

Published on December 31, 2010

Thailand's economy continued to expand in November, led by exports, private investment and tourism, according to the Bank of Thailand.

Domestic demand rose after a temporary slowdown in October when several areas were severely hit by floods.

November's private consumption index rose 4.1 per cent from the same period a year earlier and 3.5 per cent from October. The month-on-month increase came from consumption of both durable and non-durable goods and was in line with improved consumer confidence after the flood situation eased.

The electricity usage of households declined slightly from October due to lower temperature. The country's private investment expanded in November with the private investment index rising 15.5 per cent from last year and 0.3 per cent from a month ago.

Most investment indicators, including imports of capital goods, domestic sales of commercial vehicles and local sales of cement, improved. This improvement is in line with improved business confidence.

Following the economic expansion of Thailand's trading partners, November's exports rose 28.7 per cent from the same period a year earlier. Thai exports, with rise in all products and markets, amounted to US$17.58 billion (Bt525 billion) in November alone.

Thailand's tourism continued to improve with 1.5 million overseas tourists arriving in November, up 10.2 per cent from the same period last year, due mainly to increased tourist numbers from Asean countries, East Asia and South Asia.

Hotel occupancy rate rose to 55.1 per cent in November from 49 per cent in the previous month. The rate increased in almost all regions, excluding the South which was affected by the floods.

Supply increased in line with domestic and overseas demand. November's manufacturing production index advanced 5.6 per cent from the previous year and 0.7 per cent from last month.

The boost came from consistently rising car production following higher domestic and overseas demand, increased production of commercial air-conditioning for rising overseas demand, and production of plastic pellets for increasing local demand.

Agricultural production, in November, contracted 7.2 per cent from a year ago, but improved from last month's 12.1 per cent contraction, while agricultural prices rose 28.1 per cent. The recent drought, floods and Aphid epidemic have damaged crops, including the main rice crop, oil palm, sugar cane and tapioca. Farmers' income in November increased 18.9 per cent from last year.

In November, imports totalled $17.09 billion, up 35 per cent from a year earlier and 14.4 per cent from a month ago. All imported products increased.

Financial institutions' deposits, including bills of exchange, in November, increased 10.5 per cent from a year ago, while their private-sector loans expanded 12.2 per cent on rising loans to households.

Both headline and core inflation rates remained the same as in the previous month. Trade and current accounts were still in surplus in November.

************************************************************************************+


True Corp agrees takeover deal with Hutchison Telecom

Published on December 31, 2010

True Corp has reached an agreement with Hong Kong giant Hutchison Telecom for the takeover of the latter's business in Thailand in a deal worth about Bt6.3 billion.

The total value of the share purchase in four Hutch firms is more than Bt4.3 million, plus the plan of a True subsidiary to lend not more than Bt6.3 billion to BFKT (Thailand), the network operator in the Hutch group, to repay debt.

The deal will pave the way for its subsidiary to resell CAT Telecom's CDMA (code division multiple access) 2000-1x cellular service and the planned third-generation HSPA (high-speed packet access) service.

Recently True chief executive officer Supachai Chearavanont said the revenue contribution from Hutchison-CAT Wireless MultiMedia would boost TrueMove's revenue growth to 17 per cent if it could buy the Hutch business. TrueMove is True Corp's flagship.

Hutch-CAT generated roughly Bt4.8 billion in revenue in 2009. It shares 20 per cent of its revenue with CAT. TrueMove's revenue share with CAT is 25 per cent and is set to increase to 30 per cent in the fourth quarter of 2011.

True said in a filing to the Stock Exchange of Thailand yesterday that its wholly owned subsidiaries Real Move Co and Real Future Co had entered share sale and purchase agreements with Hutchison Wireless MultiMedia Holdings (HWMH), BFKT (Thailand), Rosy Legend (RL) and Prospect Gain (PG).

True, Real Move, and Real Future would neither be a guarantor nor in any way be responsible for any debts these Hutch companies owed their creditors, it said.

After the acquisition of shares in BFKT, Real Future would make a loan to BFKT in an amount not exceeding Bt6.3 billion, with BFKT to use the proceeds partially to repay its indebtedness.

True said this loan would not affect True's consolidated financial statements, since after the acquisition of shares in BFKT, this debt would not appear in the statements.

BFKT built a CDMA network in 25 provinces and leased it to Hutchison-CAT to market mobile-telephone service under the Hutch brand and under a CAT marketing contract. CAT also owns a separate CDMA network in 51 provinces, which provides service under the CAT CDMA brand.

BFKT carried Bt16 billion debts on its books in 2009, while Hutch-CAT has Bt34 billion in debts. While Hutch-CAT reported a Bt2.9-billion net profit in 2009, BFKT recorded a net loss of Bt1.6 billion.

BFKT will still be the lessor of telecom network equipment to CAT and continue to be a provider of maintenance services for the network. Emphasis will be made on rental and maintenance services for CAT's planned HSPA network and service throughout Thailand.

Real Move will be a reseller of service and capacity of the mobile-phone network that it will purchase from CAT for providing mobile-telecom business.

Hutchison-CAT will still do marketing for CAT CDMA mobile-phone customers and will not expand those services but aims to migrate all CDMA customers to HSPA within two years.

However, it remains unclear whether CAT can grant a resale deal to any parties without risking violation of the new Frequency Allocation Law.

The law obligates licence holders to provide their own services on their spectra, rather than granting partial or whole rights of spectrum management to other parties to provide service on their behalf.

Recently True vice chairman Athueck Asvanand said he was confident the resale deal would not violate the law.

True launched talks with Hutch on the deal after CAT recently aborted its own talks on a similar deal with the Hong Kong company. CAT offered Bt4 billion to buy the Hutch business but Hutch wanted Bt7 billion for the sale.

Late this week CAT chief executive officer Jirayuth Rungsrithong said CAT would be open for any firm to become its reseller and it was also interested in owning shares in the resellers.

TrueMove has about 16 million subscribers on its own GSM (Global System for Mobile Communications) network, while Hutchison-CAT has 700,000-800,000 subscribers and CAT CDMA has about 350,000.

After the acquisition, the seven companies, HWMH, BFKT, RL, PG, Hutchison MultiMedia Services (Thailand) (HMSTL), Hutchison Telecommunications (Thailand) (HTTCL), and Hutchison-CAT Wireless Multimedia, will become True subsidiaries.

HMSTL and HTTCL are wholly owned subsidiaries of BFKT. Hutchison-CAT is 73.92 per cent owned by HWMH.

True's share price closed at Bt7.10 yesterday, down 1.39 per cent.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH

**********************************************************************************
LH plans Bt9 bn investment

Published on January 7, 2011

One of Thailand's biggest property companies, Land & Houses, is preparing to spend between Bt8 billion and Bt9 billion this year on new plots of land and business investments.
More than a half of the money - between Bt5 billion and Bt6 billion - will be spent on plots of undeveloped land so the company can develop residential projects this year and in 2012. Land & Houses is planning to launch between 15 and 19 residential projects with a market value between Bt20 billion and Bt30 billion this year.
The remaining Bt3 billion will go towards the company's investments in other businesses.

The company's senior executive vice president, Naporn Soonthorn-chitcharoen, said Land & Houses would focus on two types of business: property development - its core business that generates more than half of its total revenue and net profit - and investment that concentrates on five business sectors, including hospitals, retail companies, banking, construction raw materials and property funds.

Land & Houses believes that the property market will continue to grow in 2011 because - according to government estimates - the economy will grow by 4 or 5 per cent. This will follow significant growth in exports and a continuing rise in domestic consumption. There will also be measures to boost economic growth in 2011.

Meanwhile, there is a significant chance that interest rates will rise by between 0.75 and 1 per cent this year, but that is seen as having little impact on home-buyers.

"The Bank of Thailand's policy to set a loan-to-value [cap] of 90 per cent for condominium projects will also have little impact on the property market because most home-buyers who buy condominium units make a down payment of at least 10 per cent," Naporn said.

He said it was also clear that there would be an election in the second half of 2011, and that suggested that the country's political arena would be better than it was last year.

"That is why we believe that the property market will remain stable or may grow above last year," he said.

Land & Houses continues to plan for residential developments with a broad range of home prices, from Bt2 million to more than Bt30 million.

"We have no plans to launch projects with residences priced lower than Bt1 million because we don't have experience in this market. This market also has high competition," he said.

The company's residential projects continue to be a mix of low-rise homes, including single detached houses and townhouses, and condominium projects.

"We don't think condominium developments are facing an asset bubble. We launched a number of condominium projects in the second half of last year," he said.

Those condominium projects launched in the second half of 2010 were delayed from the first half of the year because of the political problems. The company was also replacing condominium projects that had sold out in 2008 and 2009.

Naporn said he believed that small developers would withdraw from the condominium market when they ran out of land plots on which to base new developments. As a result, the condominium market will be dominated by the market leaders, and this will reduce the number of new condominium projects launched this year.

Low-rise projects, including both single detached houses and townhouses, will number about the same this year as in 2010, he said.

Land & Houses' investment arm will maintain its interest in five specific businesses: Bangkok Chain Hospital, Home Product Centre, LH Bank, Quality Construction Products, and property funds.

The company will increase the capital of LH Bank before the bank applies for listing on the Stock Exchange of Thailand later this year.

"We have no plans to invest in other businesses now," Naporn said.

He said that when the company decided to make an investment, it expected returns on that investment to exceed those from the property industry. Most of its investment will therefore generate long-term income for the company.

Currently, between Bt1.4 billion and Bt1.5 billion of Land & Houses' net profits come from dividends.

Land & Houses recorded total revenue of Bt12.9 billion and a net profit of Bt2.7 billion in the first nine months of 2010.

In the long term, Land & Houses is also looking to expand overseas.

Naporn said that when the Asean Economic Community became a reality in 2015, the country's economy would change and it would become a member of the region. There will be a single market that will provide opportunities for all of business to expand.

"We may expand our investments overseas when we are ready to move, but for now we will continue to concentrate on the domestic market, because we learned from our overseas investments before the financial crisis in 1997," he said.

Land & Houses was the first local property firm to expand overseas, to the Philippines and Indonesia, but its overseas ventures failed after the 1997 crisis.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel

**********************************************************************************

Banking sector to show strong loan growth

Published on January 10, 2011

The banking industry is expected to show loan growth of 4.3 per cent from the previous quarter,led by seasonally stronger loan demand by corporates and SMEs, especially in agribusiness, according to a research by DBS Securities (Thailand).







But sector earnings should contract 11 per cent on quarter due to seasonally higher operating expenses. Meanwhile, non-performing loan ratio is expected to improve to 5.3 per cent from 5.7 per cent in the third quarter, but net interest margin (NIM) should narrow to 3.58 per cent despite stronger loan growth and 15 basis points lending rate hike, in the absence of dividends from Vayupak Fund 1.


In 2010, Kasikornbank is expected to lead all, with the expected loan growth of 12.5 per cent on year, given its large SME loan base.

Meanwhile, the industry's loan growth should show an 8.2 per cent growth rate this year, while banks' earning growth is expected at 18 per cent. Loans would be drived by demand for fixed investment and working capital loans by corporates and SMEs. NIM is expected to widen 4 basis points, while fee income should increase 14 per cent and the credit cost to drop by 64 basis points.



DBS favours large-sized banks like KBank, Bangkok Bank and Krung Thai Bank, due to strong balance sheets. These banks are expected to benefit from an interest rate hike and stronger loan demand by corporates and SMEs.

KBANK is highlighted due to its strong asset quality, lowest NPL ratio, and highest fee income growth among peers. BBL for its strong balance sheet and highest NPL coverage ratio, and KTB as a beneficiary of SP2 and higher government expenditure


*******************************************************************************************************


Hana to put focus on raising productivity

Published on January 10, 2011

Company to push high value-added products as strong baht squeezes margins

Hana Microelectronics will continue improving productivity by utilising more machinery in the production process and raising the revenue proportion of high value-added products as ways to fight the baht's appreciation.

CEO Richard Han recently told The Nation that Hana's gross profit margin had been squeezed by the strong baht like other electronics firms. However, demand for electronic gadgets worldwide has been booming, particularly from Asian countries like China. Hana still enjoys an influx of orders from overseas, but it has to find ways to lessen the impact from the baht's appreciation in order to continue enjoying good profits.

"We did very well during the first nine months of 2010 as our operating profit, which was around US$60 million (Bt1.8 billion), could break our record. Although the strong baht has affected our operating results since the final quarter of last year, we're confident our numbers for 2010 will show good profits. The baht's appreciation will fully affect us this year. And if the baht rises to Bt28 to the US dollar, it will be a tough time for Hana," he said.

In the third quarter of last year, Hana's sales in US dollar terms increased 38 per cent year-on-year, while the increase in baht terms was lower at 29 per cent due to the stronger baht. The baht was 6.8 per cent stronger at 31.6 on average in the third quarter, compared to 34 in the same quarter a year earlier. By this year-end, the currency is widely forecast to stay in a range of 28-29.

The electronic industry this year would be driven by demand from Asia, not the US and Europe, which used to be the important markets for this industry, he said. The US was still struggling with its fragile economic recovery, while some European countries' debt problem situations were unlikely to recover in the near future.

Total output of the company, whose raw material costs are all in US dollars, is exported. About 30 per cent goes to the US, 25 per cent to China, 20 per cent to Asia and about 15 per cent to Europe. Although demand for electronic gadgets in Asia, particularly China, is still strong, falling prices and wage hikes pose problems for electronics manufacturers.

Hana has a policy to increase productivity by 10 per cent per year to battle those factors. However, the best it could do last year was only 6 per cent as it had to concentrate more on manufacturing at the highest volume to keep up with electronic component demand globally.

The keys to higher productivity are utilising more machinery and continuing process improvement in the plants located in Bangkok, Ayutthaya and Lamphun in Thailand, Jiaxing in China and Ohio in the US. The advantage of machinery is steady manufacturing with minimal errors. Hana will continue the policy to improve its plant productivity this year.

The company would also focus more on higher value-added electronic components, as those products carry a higher margin than general components. They are manufactured for medical equipment like hearing aids, and the automobile industry.

As of September, devices for medical and motor vehicles accounted for 3 per cent and 8 per cent of sales, while components for computers and telecoms were 25 per cent and 22 per cent.


*************************************************************************************

Prospect bright for cement and steel in 2011

Published on January 10, 2011

Mega-projects, and post-flood repairs expected to boost demand

Demand for major building materials like cement and steel is expected to continue growing by 5-10 per cent this year, driven by mega-projects, home repairs after the floods last year and expansion in some industries like automobiles, according to experts and manufacturers.

Pramote Techasupatkul, president of SCG Cement, predicts that overall cement demand will increase by 5 per cent from about 26 million tonnes last year. The government's construction projects for roads, irrigation system and dams, as well as home repairs after the flooding, are the major factors.

Cement consumption last year was up about 7 per cent.

Chantana Sukumanont, executive vice president of Siam City Cement (SCCC), the country's next largest cement producer, says cement demand would pick up starting this quarter, boosted by many state mega-projects.

For last year, SCCC had forecast market demand for cement to rise 8 per cent from about 25 million tonnes in 2009 to 26 million tonnes.

The target was revised down from the 10-per-cent forecast made early in the year due to the recent flooding.

Pakkapol Leopairut, assistant vice president in the financial management department of TPI Polene, the third largest player, says the company predicts cement demand to expand by 5-10 per cent from about 25 million tonnes last year mainly due to the Thai Khem Khaeng economic stimulus projects.

TPI Polene expects its cement sales volume to grow in line with the industry.

"We believe the economy in 2011 will be better. So, cement demand will keep growing," he said.

Vikrom Vajragupta, director of the Iron and Steel Institute of Thailand, forecasts that steel demand would grow by 10 per cent to nearly 15 million tonnes from about 13.4 million tonnes expected for 2010.

The automobile industry will remain the biggest user, after expanding sharply in 2010.

Steel demand of 13.4 million tonnes in 2010 was an increase of at least 30 per cent from 10 million tonnes in 2009.

Steel demand during the first 10 months of 2010 was nearly 12 million tonnes, increasing by 45 per cent from 8.10 million tonnes in the same period of 2009.

Construction remains the largest consumer at 54 per cent, followed by the automobile industry at 16 per cent, machinery and industry at 13 per cent, and electric appliances at 12 per cent.

The institute's forecast has factored in the baht's appreciation, which may take the wind out of

the sails of exports in some industries like food.

Because of the increasing demand, Thailand would also increase steel imports in 2011, particularly for use in the automobile industry.

A recent report on steel demand in 2010 from Kasikorn Research Centre said investment in the construction and automobile industries remains the major driver for steel demand in the near future.

The government plans to extend the capital's mass rapid transit network, particularly rail routes, from 2010-2019.

Investment in condominium projects along the electric train routes will increase significantly during that period. Automobile production is projected to hit 2 million units by next year.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO


Corporate investment to boost Tisco performance

Published on January 13, 2011

Tisco Financial Group, a major shareholder of Tisco Bank and Tisco Securities, targets double-digit growth in its net profit and bank lending this year in line with economic growth and the latest corporate investment cycle.

Chief executive officer Oranuch Apisaksirikul yesterday said the group had recorded a profit of Bt2.88 billion last year, 45 per cent higher than in 2009, while Tisco Bank's outstanding loans had reached Bt149.73 billion at year-end.

The lending business this year is expected to grow by between 10 and 15 per cent, based on predicted economic growth of 4.5 per cent.

The main driver of lending growth is corporate loans due to the return of investment by local firms, she said.

"We have more corporate loans [carried over from] last year as a result of greater investment following the economic recovery. The strategy for our business this year is to have a selective focus when we see bright investment moves. This cycle is expected to be with us for another five years, therefore we should focus on it," she said.

Corporate lending will again show rising growth this year, due to the recovery of local investment and the government's encouragement of Thai companies to invest outside the country.

Meanwhile, hire-purchase business will grow at a more gradual rate, as Tisco expands hire purchase and retail banking into the provincial market, Oranuch added.

Suthas Ruangmanamongkol, president of Tisco Bank, said the trend for more Thai firms to invest overseas would become an opportunity for Tisco, as Tisco Bank is not a large institution and can therefore readily take part in loan syndication with other banks.

The bank last year joined syndicated-loan facilities with a total value of Bt60.7 billion.

He said investment by large companies with annual revenue of at least Bt5 billion would be seen this year, and that Tisco Bank aimed for corporate lending to grow by 10-15 per cent on the back of this trend.

The ratio of corporate lending should gradually increase from the current 25 per cent over the next four to five years, while the portion accounted for by retail banking and hire purchase would be reduced from 75 per cent, he said.

Outstanding loans to large businesses were Bt18.96 billion at the end of last year, while loans to small and medium-sized enterprises totalled Bt9.3 billion and retail loans came in at Bt112.96 billion.

Oranuch said Tisco Financial Group would this year try to maintain its loan spread at 3.5-3.6 per cent, the same level as in 2010, due its ability to manage the assets and liabilities mix and strong growth in its retail deposit base.

Moreover, Tisco Bank has tackled the trend of higher interest rates by shortening its fixed-deposit duration from 13-14 months to seven.

In addition, she said the synergy benefits generated by the merger between Tisco Securities and Deutsche Bank should be seen late this quarter or early next. The merger will boost the brokerage's number of international clients.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI

*************************************************************************************

True deals will be finalised soon

Published on January 17, 2011

CAT Telecom has still not awarded contracts to True Corp's group in their planned joint development of the 3G-High Speed Packet Access (HSPA) wireless broadband service.

CAT chief executive officer Jirayuth Rungsrithong said CAT had yet to sign any contracts with the group but is expected to finalise contract details within the next few weeks. The Office of the Attorney-General is examining the draft contracts.

The contracts are in connection with the True group's ongoing process of taking over Hutchison Telecom business in Thailand.

Last week the CAT board gave its nod to the state agency's plan to switch to provide the HSPA service from its existing Code Division Multiple Access (CDMA) technology service and also acknowledged the True group's proposal to jointly develop the HSPA service with CAT.

As part of the move to HSPA, CAT has planned to award the contract to the True group to take care of customers on the CDMA network in 25 provinces for two years, during which CAT will convert the two separate CDMA networks into the HSPA technology. It has planned to award the contract to the group to install the HSPA equipment on the two CDMA networks for leasing to CAT and the contract for the group to resell the HSPA service.

CAT owns the CDMA network in 51 provinces, while Hutch subsidiary BFKT (Thailand) has leased the separate CDMA network in 25 provinces to Hutchison-CAT Wireless Multimedia to market the service under a CAT marketing contract.

To award the contracts to the True group, CAT will terminate the contract granted to BFKT to be the lessor of CDMA network in 25 provinces and the contract granted to Hutchison-CAT to market the service on the network.

Jirayuth said the board approved the contract termination but it will not take effect until CAT awards the contracts to the True group.

The planned contracts for True follow last month's agreements between True subsidiaries Real Move and Real Future with Hutchison Telecom's four subsidiaries in Thailand, including BFKT, for the former to take over the latter.

Jirayuth said that CAT's plan to lease the HSPA equipment from True group does not have to go through the 1992 Public-Private Joint Venture Act process, given that it is not a joint investment. CAT can lease the equipment by referring to the state leasing regulations.

Jirayuth denied the rumour that many CAT board directors will resign to show their disagreement with CAT's decision not to proceed with the plan to grant the contracts to True group through the Act process, which might risk attracting a legal probe later.

In a separate matter, CAT recently submitted to the ICT Ministry the conclusion of the private-state panels on their examination of the allegedly unlawful concession amendments of CAT's private cellular concession holders.

The panels' majority members commonly suggested that CAT ask the concession holders to share more concession revenue as a result of their revenue-sharing reduction and concession term extension by the concession amendments.

In 2007 the Council of State ruled that the past concession amendments of all cellular concession holders of CAT and TOT did not comply with the Act and will have to be rectified.

***************************************************************************************


LPN enters townhouse market

Published on January 15, 2011

LPN Development plans to launch its first five townhouse projects of the year, worth Bt2 billion, marking its first entry into lowrise development after the 1997 economic crisis.




Pornsanti Co was established to run townhouse projects. At Bt3 million to Bt6 million per unit, the townhouses will be launched in the second quarter. The developer expects sales of Bt1 billion from townhouse projects this year.

"We looked into developing townhouses three years ago and delayed the plan, but now we believe that our customers need to buy townhouses when their family sizes increase," LPN managing director Opas Sripayak told a news conference yesterday.

Meanwhile, LPN plans to launch 10 new condominium projects worth Bt16 billion this year, eight in Greater Bangkok and two upcountry, including Pattaya.

The company also expects revenue from condominium projects to be Bt12 billion and targets presales of Bt16 billion this year.

"We believe that our revenue will reach the target because we have a backlog worth Bt14.4 billion, Bt11.5 billion of which will be booked as revenue this year," Opas said.

Meanwhile, the group has inventory worth Bt4.5 billion that has potential to generate revenue this year, he added.

LPN has budgeted Bt3 billion to buy land, including Bt500 million for townhouse development. It will fund some of the investment with cash flow and seek extra financing from banks and the bond market. Shareholders earlier approved a debenture issuance worth Bt2 billion. The credit rating is underway.

"Whether we will issue the debentures or not depends on the financial result," he said.

LPN recorded presales of Bt15 billion in 2010, up 41 per cent from the Bt10.6 billion it recorded in 2009. This drove its 2010 revenue to nearly Bt10 billion, 10 times its revenue of Bt1 billion in the year 2000.

The company is now the leader in the condominium segment. In terms of units, it controls a 20percent share in the housing market.


*****************************************************************************************

Phatra braces for securities trading in 2011

Published on January 17, 2011

Phatra Securities, a leading full-service brokerage, is gearing up for the securities trading business, which is expected to see the highest growth this year despite the stiffer competition ahead of full liberalisation of brokerage fees next year.

With the slowdown in the stock market this year, revenue creation will be a key driver of financial results, the management team said in an interview with The Nation last week.

CEO Aphinunt Klewpatinond said that after the firm's restructuring, which started in April and was completed recently, investors now could easily monitor stock performance, as the company's trading for its own account has grown to as large as 40 per cent of its total revenue.

The stock market's capitalisation is now Bt9 trillion, three times more than in the past.

"Principally, results, staff, management and investment between trading for clients and for its own investment portfolio are required to be separated. As we are in the broking business, we have to gain trust and reliability from all participants," he said.

"Doing business is still unchanged, except the structure," he said.

Phatra Capital Plc has now become a listed company and holds 100 per cent of Phatra Securities, which was delisted from the Stock Exchange of Thailand.

Phatra Capital, which still uses the trading symbol of PHATRA, is a holding company operating one business - proprietary trading - which was transferred to it from Phatra Securities. The securities brokerage business, including trading for clients, is still under Phatra Securities, which is also involved in such other businesses as investment banking and futures dealing.

The move is part of Phatra Securities' business adjustment process in order to brace for the changing environment. It was planned over the past six years after a group of managers bought out Merrill Lynch and Kasikornbank in 2003. In the transition to fully liberalised commissions, local securities houses are seen as adopting one of two models: discount or full-service. Negotiations for rebated prices are already taking place.

This year brokerages, including Phatra Securities, would have to make more of an effort than they did last year, when securities-related businesses, especially capital mobilisation, grew rapidly in line with the stock market rally.

Last year, Phatra Securities realised more than Bt1 billion in capital gains from its investment portfolio and many investment banking deals with a combined value of Bt60 billion.

As trading volume was heavy enough last year, the company could compensate by discounting its brokerage fees by 20 per cent, sending its brokerage fee income up by 30-40 per cent.

"However, the business we expect to perform best this year is the trading business. We plan to propose to the board by the end of this month a 100-per-cent growth target to Bt200 million this year," he added.

Tanavatt Bhanijkasem, managing director and head of equity and derivatives trading, said the group this year would concentrate on generating income from new product launches rather than spot opportunities.

After the group spent three years setting up a team, it is ready to launch structured note products to cover all types of customers from individuals to institutions. For high net-worth

clients, the group would offer more principal-protected notes to add to the equity-linked notes.

For general investors, the company has provided derivative warrants, which are highly popular in overseas markets, and plans 12 more issues this year, after the first two issues last year.

"We believe there is room for growth in derivative warrants as the product's turnover is only 5 per cent of the market's total trading volume, compared with 20-30 per cent in overseas markets," he said.

The group would also introduce over-the-counter derivatives products to capture institutions by this year-end, he added.

*************************************************************************************

IVL major shareholders sell 6.2% share

Published on January 14, 2011

Canopus International Ltd has sold 270 million shares or 6.2 per cent in Indoram Ventures Plc (IVL) to a number of institutional investors, to ensure the company's trading stability in the Thai stock market.
The shares were placed at a price of Bt44.50 per share, representing a discount of 3.8 per cent to the last closing price of Bt46.25. Credit Suisse, Morgan Stanley and Bualuang Securities acted as joint placement agents for the major shareholder.
In a statement, IVL said that Canopus, following the transaction, will refrain from share transactions for 90 days.

It also promised to fully subscribe to the 72 per cent allocated portion of Transferable Subscription Rights (TSRs) under IVL's capital increase, to become the world's foremost polyester value chain producer.


***************************************************************************************

SSI expects Bt50 bn revenue this year

Published on January 17, 2011

Sahaviriya Steel Industries (SSI) expects its revenue to reach Bt50 billion in 2011, pinning hopes on the acquisition of the UK steel smelting plant and a surge in steel demand and prices which would benefit all companies in the sector.

Steel is among metal commodities which are expected to see a surge in price, in line with oil prices.

Win Viriyaprapaikij, president of SSI, said in an exchange-sponsored seminar last Saturday that the sharp revenue growth would be seen in the second half of this year after the completion of Teesside smelting plant from Tata Steel (UK).

Its revenue in the first nine months of 2010 was Bt37.82 billion. The acquisition will boost the company's annual production from 4 million to 7.5 million. As assets will increase from Bt40 billion to Bt190 billion, SSI would also be the largest steel firm in Asean. Shareholders on January 25 will be asked to approve the capital increase to finance the acquisition.

"The revenue outlook is good as the production volume would rise, while the steel demand and price should also rise," he told the audience.

Speakers at the seminar said the outlook for all steel companies is good this year. Iron and Steel institute's director, Wikrom Vajarakupta, said that much of steel demand comes from the manufacturing sectors, particularly the automotive, as well as construction. Now, Japanese electrical firms have also established plants in Thailand for high-end product production, while many machinery firms are shifting investment into the Kingdom.

This should push up demand from 13 million tonnes last year to 14-15 million.

The institute director said that the political, the inflation, the higher interest rate and the fluctuated of raw material price especially the flood in Australia are risk factors of steel industry.

The Institute is also pushing for the master plan for steel industry development. This would require Bt30-Bt100 billion to set up an industrial estate for upstream steel plants. The investment would cover infrastructure, deep seaport and city with the area of 15,000 rai. Potential locations are Pattani, Songkhla, Nakhon Si Thammarat, and Prachuab Khiri Khan. He said the upstream manufacturing should be materialised in the next five years.

Foreseeing the greater role of steel companies, the Stock Exchange of Thailand this year has moved over 20 steel stocks to the newly-created Steel Sector. To SCB Securities (SCBS) Senior Vice President Sukit Udomsirikul, this should bolster their attractiveness to investors.

He said that in the past, the steel stocks have fluctuated performances due to the global factors, however, analysts have positive view on steel securities from bright outlook of demand and price. The industry's downfall has bottomed out, he said, believing that listed steel companies should reveal impressive financial results for year 2010.

The situation should remain bright this year. Analysts expect them to show the13 per cent and 17 per cent in earnings growth of steel traders.

Win expected steel price to stand at US$750 per tonne based on the crude oil price which now nearly $100 per barrel.

Paisal Tarasansombat, president and CEO of Thai Metal Trade (TMT), is not totally positive on the outlook. He is concerned with the fluctuation in coal and iron ore prices. Steel plants in Asia Pacific are expected to suffer from floods in Australia , which barred exports. Meanwhile, China has limited coal export.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP

*************************************************************************************

Analysts expect banks to post record earnings topping Bt100 bn for last year

Published on January 20, 2011

The banking sector is expected to post recordhigh earnings of more than Bt100 billion for last year, against Bt86.46 billion in 2009, on outstanding loan growth and fee income.

The sector is the first on the Stock Exchange of Thailand to announce its financial results for the full year, with Siam Commercial Bank and TMB Bank leading the way with announcements on Tuesday.
SCB's profit in 2010 rose sharply by 16.6 per cent to Bt24.21 billion, while TMB Bank's net earnings soared to Bt3.2 billion from Bt1.94 billion in 2009.
Kasikornbank yesterday announced a 2010 net profit of Bt20.04 billion, surging 36.07 per cent year on year from Bt14.73 billion.
Capital Nomura Securities (CNS) projects the banking sector will record its highestever earnings of more than Bt100 billion largely on lending growth, especially for corporate loans, which expanded significantly last year because of increased investment.
Banks' higher net interest margins (NIM) are another factor behind the impressive performance. Banks gained from the rise of 25 basis points in interest rates in 2010, as well as strong growth in fee income.
CNS expects Krung Thai Bank will post the highest earnings among the largest banks, with growth of 44 per cent year on year thanks to the expansion of lending and NIM.
The securities house expects Kiatnakin Bank to lead the way among mediumsized banks with 50percent growth in earnings, followed by Bank of Ayudhya with 46 per cent.
Kiatnakin Bank announced a net profit of Bt2.86 billion for 2010, compared with 2.23 billion in 2009. Bank of Ayudhya will announce its profits tomorrow.
CNS is also overweight on the banking sector, forecasting 22percent growth in net profit for last year.
An analyst at Finansia Syrus Securities said the sector's 2010 net profit would come in at Bt100 billion, with the main factors driving the increase being higher net interest income in line with the recovery in loans and fee income.
Finansia projects lending growth of 9 per cent, particularly in the fourth quarter of 2010, when there was a sharp rise due to lending for new investment.
The securities house is overweight on banking stocks and forecasts the sector will achieve even higher earnings this year.
The banking sector will continue to enjoy netprofit growth, but the rate will slow to 15 per cent from the predicted average of 20 per cent last year, it said.
Finansia forecasts lending to increase by 910 per cent this year, thanks to expected higher net interest income, increases in interest rates, higher fee income and lower loanloss provisions resulting from the improvement in asset quality.
Tisco Securities said in its research that the banking sector's earnings last year would increase by 24.3 per cent to Bt102 billion.
The demand for loans in 2010 is expected to climb by 9 per cent, and NIM by 0.05 per cent. Fee income is forecast to rise by 18 per cent, while loanloss provisions will decline by 9 per cent.
Tisco also projects a bright outlook for the sector this year, due to liquidity and loan expansion of 89 per cent year on year.
Even though economic growth will be lower than in 2010, higher interest rates and the improvement of banks' product prices will drive NIM, it added.
Tisco is overweight on bank stocks and predicts the earnings of the sector will grow by 19 per cent this year.
Bank of Thailand Deputy Governor Krirk Vanikkul expects commercial banks' loan growth to slow slightly this year, because of last year's high base of 10 per cent.
"Loans will likely grow at a slower pace in 2011, as they expanded relatively well at 10 per cent [last year]. This follows the central bank's and commercial banks' expectations," he said.
The banking sector's outstanding loans totalled Bt11 trillion at the end of last year, up from Bt9 trillion during the global economic crisis in 2008, he said.

*********************************************************************

PTTEP ups five-year investment budget

Published on January 20, 2011

PTT Exploration and Production will invest about Bt562 billion in oil and gas projects from 2011 to 2015.

The company will also continue seeking merger and acquisition opportunities in order to triple output from 300,000 barrels per day currently to 900,000 by 2020, as planned.
PTTEP also sees bright prospects for continuing its Montara contract off Australia's northern coast and hopes to start pumping oil in the final quarter of this year.
President and CEO Anon Sirisaengtaksin yesterday said the company's five-year investment budget was much higher than the previous projection, as PTTEP had acquired a 40-per-cent stake in Statoil Canada Partnership, which owns Kai Kos-Dehseh Oil Sands (KKD) in Canada.
It has to pay US$2.28 billion (Bt69.4 billion) for the stake, as well providing an investment budget to increase KKD's production capacity from 10,000 barrels per day now to 100,000 within the next five to six years.
"The [overall] investment budget during 2011-2015 will increase by Bt8 billion to Bt9 billion from the previous estimate. We have to pay the remaining 85 per cent of the amount we agreed for the 40-per-cent stake [in KKD], or around Bt58 billion this year.
"We paid 15 per cent last year," he said.
He said PTTEP would return to focus on investing in conventional oil and gas after acquiring two unconventional projects - KKD and a floating liquefied natural gas (FLNG) project in Australia.
Conventional oil and gas exploration and production requires a lower investment than unconventional operations, but provides a faster return on investment.
"Unconventional oil and gas exploration needs a huge budget at the preliminary stage. We have to be cautious when investing in this field. So, we may not have [another] huge investment like KKD over the next five years. We will extend the business cooperation with Statoil in |conventional oil and gas," Anon |said.
He added that the Bt562-billion investment budget through to the end of 2015 did not include M&A deals, the FLNG project or new projects the company is discussing with partners.
PTTEP targets the production of an equivalent of 265,000 barrels in oil and gas per day this year, increasing from 230,000 in 2010. The output from existing and firm projects will rise to 316,000 barrels per day by 2015.
Anon said PTTEP was in the process of inviting other investors to buy stakes in Burma's offshore oil and gas block, including M9, for which it has the concession, as the company plans to reduce its stake from 100 per cent to 45 per cent.
The Burmese government will be offered a 15-per-cent stake in the block, so PTTEP will try to sell 40 per cent to other investors.
Christopher Pungya Kalnin, adviser to the president and CEO for corporate strategy, said that if the Australian government allowed the company to continue oil and gas exploration and production in Montara, it would start producing oil in the final quarter with a capacity of 35,000 barrels per day.
This is the best-case scenario for operational resumption following the accident at the well in 2009. The company earlier planned to resume operations in the first half of this year, but had to defer the plan as the Australian government did not |make a decision late last year as expected.
However, PTTEP also acknowledges the possibility that the Montara contract will be cancelled, he said, adding that the Australian government is expected to make a decision by the end of March.
In the event of a contract cancellation, the company can appeal within 28 days to the Federal Court and High Court in Canberra.
PTTEP has set aside a reserve of 2.2 million Australian dollars (Bt67.4 million) for compensation and penalties in connection with the Montara accident.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor

*************************************************************************************

AIS fate in the balance over concession

Published on January 24, 2011

Advanced Info Service (AIS) seems to be facing turbulent times, following the Information and Communications Technology Ministry's attempt to terminate its concession.

A ministry source said the ministry's legal team had suggested that TOT terminate AIS' concession and then create a network-leasing-contract for AIS instead.

The contract term would be for five years during which AIS will be asked to pay the rental fee of 35 per cent of its revenue.

This is part of the team's solutions for the ministry to rectify the allegedly unlawful concession amendments for AIS in the past.

AIS' original concession term ends in 2010 but in 1996, TOT extended the term to 2015. The ministry's team viewed that TOT should honour the original term after the Supreme Court delivered its verdict last February in the asset-seizure case of fugitive Prime Minister Thaksin Shinawatra. Part of the ruling cited that Thaksin has abused his power to benefit his telecom empire.

But it will not be easy to terminate AIS' concession. AIS will seek legal channels to fiercely defend its business. The company will announce its 2011 business direction today.

Sunday marked the five years after the Shinawatras disposed of the combined majority shares of 49.59 per cent in Shin Corp to Singapore's Temasek Holdings.

The ministry's source added that TOT has to create the network-leasing contract for AIS to continue to manage the service if it terminates the AIS concession. If not, AIS' more than 30 million subscribers will be affected and TOT itself has no ability to take care all of them.

The Council of State ruled in 2007 that some concession amendments of AIS, Total Access Communication, and TrueMove, were not complied with the 1992 public-private joint venture law.

Then the state-private panels were set up to probe these |allegedly unlawful concession amendments. They have already sent the probe results to the ministry, which has a legal team to review the results and seek solutions to rectify them. The ministry will present the solutions to the Cabinet for consideration.

The ICT Ministry must submit the solutions in the AIS case to the Cabinet first as it is related to the Supreme Court's ruling on the Thaksin case.

But last week, Prime Minister Abhisit Vejjajiva told the ministry to submit the solutions of all concessions in one package to prevent criticism of discrimination.


*****************************************************************************************


Experts say property firms are unlikely to repeat last year's success in 2011

Published on January 24, 2011

Developers' earnings could increase by 12 per cent this year as they are now focusing on low-rise residential projects due to rising demand and lesser competition than condominium projects, analysts said last week.

Demand for residential projects will likely be fuelled by this year's expansion in gross domestic product and improvement in the domestic political situation, Capital Nomura Securities (CNS) said in a research note. The economy is forecast to grow 4.8 per cent this year.

Based on CNS' analysis of seven listed developers, projects worth Bt213.28 billion will be launched in 2011, up 1.8 per cent from Bt209.51 billion last year. Pre-sales could rise 8.1 per cent to Bt153.63 billion from Bt142.16 billion last year.

The seven developers are Asian Property Development, Land and Houses, LPN Development, Pruksa Real Estate, Quality Houses, Sansiri and Supalai. Last year, new projects increased 116.2 per cent.

These developers, excluding LPN Development, plan to launch projects in all segments from high to low end. A particular focus is on projects with units priced from Bt1 million-Bt5 million due to the large market and higher growth.

Based on discussions with these developers' executives, many - such as Pruksa Real Estate, Asian Property Development and Quality Houses - will emphasise low-rise residential projects, which generate quicker income than condominium projects.

The strategy is expected to help accelerate these companies' growth this year as the condominium projects launched last year will produce income after at least two years to two-and-a-half years, CNS added.

Last year, the Bank of Thailand's announcement of restrictions on the loan-to-value (LTV) ratio unavoidably had a psychological impact on home-buyers and developers. For properties priced below Bt10 million per unit, starting on January 1 financial institutions were required to cap mortgages at 90 per cent of condominium prices. The LTV for low-rise housing will be capped at 95 per cent starting on January 1, 2012. Interest rates are still on the uptrend, which could drag down housing sales. The Monetary Policy Committee this month raised the policy interest rate by 25 basis points to 2.25 per cent, The market expects 75-125 points in increases by the end of this year.

An Ayudhya Securities analyst said investors this year should be very careful about the direction of property development. They should keep an eye on a large developer to see if it can complete a project. Larger developers will mostly lead the market as smaller developers have less confidence in launching projects than last year. Condominiums gained popularity in 2010.

Companies targeting medium to upper-end customers are recommended for investment, while those focusing on the lower-end market should be watched to see if they would be affected by those factors. However, companies offering properties worth more than Bt10 million will not suffer from the new LTV rule, he said.

A Kiatnakin Securities analyst said property stocks might not surge like last year due to the expiration of property tax breaks last March. The interest rate is also on the rise, pushing each property firm to introduce projects to suit customers' demand. This year, the property sector may not record high earnings like 2010.

"Earning higher revenue this year would need launch of many projects. Higher investment could put pressure on performance and net profit may decline, while revenue may be higher. Seven property firms' net profit may rise 12 per cent to Bt18.78 billion. We have to monitor them closely for impact factors and this target may need to be readjusted," he said.

The seven are Asian Property Development, Land and Houses, LPN Development, MK Real Estate Development, Pruksa Real Estate, Quality Houses and Supalai.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011

*************************************************************************************
Natural disasters may help Banpu in short term

Published on January 25, 2011

Banpu expects thermalcoal prices to remain high this year after natural disasters struck major producers such as Australia.

"Banpu's average coal price last year was more than US$73 per tonne. We expect the average price in 2011 to be more than $80 per tonne," chief financial officer Somruedee Chaimongkol said.

Heavy rain and flooding in some countries, including Australia, the world's secondlargest coal producer, have caused tight supplies of coal during the winter season, when demand is high worldwide, she said.

The Australian state of Queensland, which has many coal mines, has been hit hard by flooding and producers cannot export their coal.

Wood Mackenzie said in a report that 46 mines in Queensland had either been flooded or could not ship coal by rail. Since the affected mines account for 55 per cent of Australia's coal exports, prices in the world marฌket have been climbing.

Centennial Coal, which Banpu took over late last year, has its mines in New South Wales, so it can export coal normally.

Wood Mackenzie said spot prices for thermal coal had soared to $140 per tonne at the port of Newcastle and might approach or exceed the $197 mark recorded in 2008.

Thanachart Securities said in a research note that the coal shortfall due to flooding in Australia was a positive catalyst for the short term. The brokerage has raised its earnings estimates for Banpu for 2011 by 8 per cent, 15 per cent for 2012 and 17 per cent for 2013, thanks to the bright coal outlook.

Kim Eng Securities (Thailand) said in its research note that higher coal prices would offset the lower revenue from the Daning coal mine in China. Banpu is waiting for the Chinese government to renew Daning's licence, which could take one to two months. The securities house estimates that the revenue loss from the Daning coal mine will chop 23 percentage points off Banpu's profit this year.

It forecasts Banpu's sales rising to 42 million tonnes, of which 16 million tonnes will come from Centennial Coal and 26 million tonnes from Indonesia, up from 23 million tonnes in 2010.


***************************************************************************************

PTT Chemical moves into bio-based plastics

Published on January 25, 2011

PTT Chemical is spreading its wings into bio-based plastics production through an equity participation in US-based Myriant Technologies.

The US$60-million (Bt1.86 billion) investment was announced yesterday.

The US company is raising funds to finance a medium-scale plant in Louisiana for the production of bio-succinic acid with an annual capacity of 14,000 tonnes. The plant is expected to prove the successful commercialisation of the technology.

The investment has convinced PTT Chemical president and chief executive officer Veerasak Kositpaisal of the bright future for bio-succinic acid, and it is possible that a similar plant will be established in Thailand.

"This is our first step into bio-based technology. PTT Chemical will be the owner of the technology once the technology is proved successful. We can use the technology to establish a plant in Thailand as well, as we have plenty of agricultural raw materials like tapioca or maize for bio-based chemical production," he said.

Stephen J Gatto, chairman and CEO of Myriant Technologies, said the company had researched bio-succinic acid for three years and was now studying establishment of a medium-scale plant. It expects to take 19 months to complete the study.

The company will research many raw materials, such as waste from industrial production, some of which is non-food material. Bio-succinic acid can be used to make many products, such as in the paint and automotive industries.

Veerasak said PTT Chemical eyed an annual capacity of 100,000 tonnes for the commercial plant, for which it would have to put in additional investment.

"It is also possible PTT Chemical will invest in other kinds of bio-based chemicals soon. We target investing in our first plant in this kind of technology within the next five years," he added.

Myriant Technologies expects the collaboration with PTT Chemical to create good business for the two companies soon, Gatto said, adding: "Thailand has a lot of raw material as feedstock for bio-based chemicals. If PTT Chemical invests in the project, we will invest with it."

Myriant Technologies is one of the leading biotechnology developers in the United States. It has been supported by a research and development budget of $60 million from the US government to study renewable biochemicals.

**************************************************************************************

Slowest growth among peer countries predicted for Thailand

Published on January 14, 2011

The World Bank has forecast that Thailand's economy will grow by 3.2 per cent this year and by 4.2 per cent in 2012 - the slowest growth among its peer countries in Southeast Asia.

It said recovery of Thai economy was strong last year, with a real gross-domestic-product (GDP) growth rate estimated at 7.5 per cent year on year - the highest rate among its peers.

However, the bank's lead economist for Southeast Asia Mathew Verghis said the effect of last year's higher base, combined with a projection of slower growth arising from the growth rate in the third and fourth quarters of 2010, led to the low forecast for 2011.

The bank believes Indonesia will achieve economic growth of 6.2 per cent this year, accelerating from an estimated rate of 5.9 per cent in 2010.

Malaysia is expected to grow by 4.8 per cent, compared with 7.4 per cent last year, and the bank says the Philippine economy should grow by 5 per cent this year, decelerating from 6.8 per cent last year.

The World Bank's forecast of 4.2-per-cent growth in Thailand in 2012 still leaves the country with the slowest economic-growth rate compared to Indonesia, Malaysia and the Philippines, the economies of which it forecasts will grow by 6.5 per cent, 5.7 per cent and 5.4 per cent respectively in 2012.

It said Thailand's "small and relatively open economy" depended heavily on export performance, and fragile recovery in advanced economies had adversely affected the country.

Investors still see political uncertainty remaining, as it has continued over the past few years.

"We do not expect a dramatic improvement or deterioration," Verghis said in response to questions on the political factor. The World Bank's economist in Bangkok, Frederico Gil Sander, said that if there was a large change either way, the bank would revise its projections for the Thai economy upward or downward.

An early election this year and government spending under nine recent measures should boost domestic demand, Sander said.

The two economists did not comment on whether the government spending - branded by some critics as populist - would become a threat to fiscal sustainability in the future. Verghis said the current level of Thai public debt - 42 per cent of GDP - was manageable, and components of the debt were largely baht-denominated and not foreign debts.

WORLD ECONOMY

The World Bank's Global Economic Prospects 2011 report, released yesterday in the United States, said the world economy was moving from a post-crisis bounce-back phase of recovery to slower, but still solid, growth this year and next, with developing countries contributing almost half of global growth.

The bank estimates that global GDP, which expanded by 3.9 per cent last year, will slow to 3.3-per-cent growth this year before reaching 3.6 per cent in 2012.

"On the upside, strong developing-country domestic-demand growth is leading the world economy, yet persistent financial-sector problems in some high-income countries are still a threat to growth and require urgent policy actions," said the World Bank's chief economist Justin Yifu Lin.

Contributing to the economic-outlook debate, Citi Asia Pacific said it believed there would be only slow recovery of the world economy this year because of concerns over fiscal issues, currency volatility, political uncertainty and potential inflationary pressure.

"As we look into 2011, the issues that dominated the economic landscape last year are probably going to continue resonating into the New Year. Uneven growth in the global economy, deflation and inflation debates and festering fears of currency and trade wars are likely to be punctuated by bouts of heightened political tension," said Citi Asia Pacific director and senior investment strategist for wealth management Haren Shah.

Some caution is warranted because the restructuring of global imbalances is likely to be a difficult process, fraught with risk, he said.

Global equity markets could be volatile as liquidity from developed economies continues to flood into emerging markets.

Shah said the first half of 2011 was likely to be dominated by the second round of the US quantitative easing, US political distractions and emerging markets' efforts to contain asset inflation.

"Emerging-market economies are expected to continue to perform well, with many, especially those in BRIC countries [Brazil, Russia, India and China] now focused on driving growth from domestic consumption. Tactically, we think China's growth remains attractive and this could be best played through Hong Kong's equity market," he said.

Commodity-based markets such as Brazil and Russia could also perform better on strong commodity prices. Brazil is a leading agricultural producer and exporter, while Russia is one of the cheapest valuations among emerging markets and its equity market could be supported by rising oil prices, he said.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF

*************************************************************************************
SCG targets 10 per cent growth in 2011

Published on January 27, 2011

Siam Cement Group, the country's largest industrial conglomerate, is targeting conservative sales growth of 10 per cent this year from Bt301.32 billion last year, with all business units, including petrochemicals, cement and paper, expected to turn in strong performances.



SCG's capital expenditure budget for 20112015 is also conservative, remaining at Bt100 billion. The focus is on mergers and acquisitions for expansion.

Kan Trakulhoon, president and CEO, said yesterday that the prospects for all business units were bright, thanks to the rebound in consumption and the M&A deals in the pipeline.

Although the company's net sales last year surged by 26 per cent - much higher than the 10percent target set early in 2010 - it has kept its sales growth target at the same 10 per cent for this year, he said.

Last year, SCG recorded a net profit of Bt37.38 billion, the highest since its establishment 96 years ago. However, part of the net profit was a Bt8.8billion net gain from the divestment of shares in PTT Chemical, so the normalised net profit was about Bt28 billion.

It will pay a dividend of Bt12.50 per share for 2010. Siam Cement's stock closed up 0.64 per cent at Bt313.

SCG's petrochemical business would face lower ethylene supplies in the world market this year - 6 million tonnes instead of 12 million tonnes last year - so the spreads for polypropylene and ethylene should be better than last year. SCG's margins on polypropylene and ethylene sales so far are about US$600 (Bt18,000) and $440 per tonne, respectively, higher than last year.

The company expects all petrochemical projects halted by the Central Administrative Court's ruling on the Map Ta Phut case will start operating this year, so its cracker will run at a higher utilisation rate than last year. Petrochemical sales should grow faster than the 10 per cent last year.

The paper business was also forecast to outperform last year, as the paper mill in Vietnam will enjoy a higher utilisation rate than the 85 per cent in 2010. The corrugated paper plant it recently took over in Vietnam will also start contributing revenue. Eventually, sales volume from the paper business will increase from last year.

Cement demand this year is estimated to increase by 78 per cent. SCG will likely hike its prices this year if demand remains high as expected and production costs rise from last year.

SCG has cash on hand of about Bt70 billion, which encourages the company to move forward with M&A deals. Its fiveyear investment plan includes setting up a cement plant in Indonesia, completing some M&A deals in the paper business and improving production efficiency to save Bt4 billionBt5 billion per year in energy costs.

SCG Cement's plan to set up the cement plant in Indonesia would be finalised this quarter.

The company is in talks with a few paper companies in Vietnam for acquisition deals. It also expects to be successful in buying building material and petrochemical firms, particularly those making high valueadded products.

SCG is studying the possibility of investing in Dawei. It exports about 1.7 million tonnes of cement per year to Burma. However, setting up a cement plant in Dawei may be difficult, as the location does not have raw materials to make cement.

The company invested Bt160 billion over the last fiveyear plan, from 20052010.

SCG will spend Bt1.3 billion for research and development this year to increase sales from high valueadded products to 29 per cent from 22 per cent last year. Sales from markets outside Thailand are tending to increase from 37 per cent in 2010. Asean countries are the largest market for the company.

*******************************************************************

Land & House eyes 25% revenue rise

Published on January 27, 2011

Land & Houses, a leading developer of premium housing, expects its revenue this year to rise by 25 per cent to Bt25 billion, helped by 18 new projects with a combined value of Bt41.28 billion.

Out of the company's Bt7.8-billion investment budget for this year, about Bt6 billion will be used for buying undeveloped land and the rest will be used for purchasing capital-increase shares of LH Bank, in which the company holds a 40-per-cent stake.

LH Bank plans to apply to list its shares on the Stock Exchange of Thailand in the next quarter.

More than half of the investment budget will be funded by debt issuance, part of which is a Bt2.5-billion debenture issue this month. The company expects to launch a Bt1.5-billion debenture issue in the third quarter, senior executive vice president Adisorn Thananannarapool told a press conference yesterday.

He said the company could likely raise more than Bt4 billion from debentures this year, depending on market sentiment. Land & Houses has a mandate from its shareholders to raise up to Bt10 billion via debentures.

The company's debt-to-equity ratio will be in a range of 0.72 to 0.73 times, from 0.7 times currently, if it issues a debenture of Bt1.5 billion as planned.

It is also studying whether to set up a property fund this year, now that it has six buildings together worth more than Bt11.6 billion, said Adisorn, adding that this too would depend on market sentiment. The company currently holds a 49-per-cent stake in LH Property Fund II.

He said the company had increased its residential prices by 3 to 5 per cent, while the costs of building materials and land are expected to rise by 5 to 10 per cent this year.

Meanwhile, the company has revised its property portfolio by upping the proportion of houses priced below Bt3 million from 10 per cent last year to 15 per cent this year, and the ratio of houses costing more than Bt10 billion from 9 per cent to 15 per cent, said senior executive vice president Naporn Soonthorn-chitcharoen.

The ratio of houses priced in the range of Bt3 million-Bt5 million will fall from 38 per cent to 30 per cent, but will remain unchanged at 25 per cent for homes priced in the Bt5 million-Bt7 million range. Houses in the range of Bt7 million to Bt10 million will account for 15 per cent, against 18 per cent last year.

The company has a backlog of about Bt3 billion from condominium projects, which will generate revenue this year and next.

Land & Houses' inventory stands at about Bt2.5 billion, with Bt500 million already for sale and Bt2 billion in the construction stage.

Naporn said that nearly 40 per cent of net profit was from subsidiaries and rental income, with the remainder from its own property business.

The company recorded revenue of Bt690 million from rentals last year and expects this to rise to Bt1.1 billion this year. It posted revenue of Bt12.9 billion and net profit of Bt2.7 billion for the first nine months of |last year


********************************************************************

CPF ups stake in overseas subsidiaries

Published on January 27, 2011

Charoen Pokphand Foods (CPF) has pushed forward its investments overseas by raising capital and purchasing more stakes in its subsidiaries.


The company's board of directors yesterday approved the purchase of 1,475 newly issued ordinary shares at US$11,030 per share totalling Bt500 million in CP Cambodia Co (CPC), a manufacturer of animal feed and meat products. The deal has increased CPF's share in CPC to 25 per cent of paidup capital.

Adirek Sripratak, president and chief executive officer of CPF, said yesterday that the company had to complete the purchase within the first quarter of this year.

"The deal will encourage CPF's business in Cambodia, where agroindustrial goods have great growth potential and CPC has strong fundamentals to further the business growth," Adirek said.

CPF also raised its capital by 25 million ringgit (Bt252 million) in its subsidiary Asia Aquaculture (M) Sdn Bhd in Malaysia. The plan is to facilitate the company's capital restructuring to bolster its shrimpfarm and shrimpprocessing businesses.

Moreover, CPF has completed the process of raising its capital in two companies in Russia, Charoen Pokphand Foods (Overseas) worth 429 million roubles (Bt444 million) and 60 million roubles in CPF Agro. This is to facilitate expansion of its animal farms.

"These financial plans have been designed to ensure we increase our overseas income proportion from 27 per cent now to 40 per cent within the next five years," Adirek said.

Meanwhile, Charoen Pokphand Group also recently allowed its Hong Kongbased subsidiary, CP Pokphand, to buy a 70.8percent stake in CP Vietnam Livestock Corp, according to Bloomberg.

CP Pokphand said the purchase price would be determined as an adjusted multiple of the target's net income and the company would pay with an issue of new stock and convertible preferred shares.

[ThaiClaus]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL

*************************************************************************************

Bank channels deliver strong performance for SCNYL

* Published: 2/02/2011 at 12:00 AM
* Newspaper section: Business

Siam Commercial New York Life (SCNYL) foresees a good performance this year, as sales via bank channels, mainly through affiliate Siam Commercial Bank, will remain strong and contributions from agents and other channels are growing.

The joint venture between SCB and US-based New York Life Insurance said it achieved record-breaking results last year despite external challenges including political uncertainty and heavy flooding in many provinces. It reported total first-year premiums of 9.57 billion baht, an 11% increase over its 2009 performance.

Bancassurance produced first-year premiums of 7.82 billion baht, up 10% over 2009, and agency distribution generated a 20% increase to 1.16 billion. The special market group, which comprises civil service worksite sales, credit life, affinity marketing and group life, earned 586 million baht, up 8%.

Total premiums last year were 24.5 billion baht, a rise of 26% from the year before. At the end of September 2010, SCNYL's total assets were 62.45 billion baht.

For the first nine months of last year, SCNYL reported a net profit of 1.59 billion baht compared with 1.18 billion baht in the same period a year earlier. Full-year profits in 2009 totalled 1.58 billion baht.

The company said its market share had increased substantially and it now ranked fourth out of 25 life insurers based on total premiums with an 8.5% share, up from 7.5%. It ranks third in new business premiums with a share of 9.54%, up from 8.78% in 2009.

President Donald Carden forecast total premiums would grow 26% to this year and new sales by 11% over 2010.

Bundit Jiamanukoonkit, senior executive vice-president and chief distribution officer, said SCNYL would focus on expanding non-bank sales while strengthening its leadership in bancassurance distribution. It forecasts bancassurance sales growth of 10% to 8.6 billion this year, with agency distribution growing 25% to 1.45 billion baht.

SCNYL shares closed yesterday on the Stock Exchange of Thailand at 518 baht, up 10 baht, in thin trade worth 52,000 baht.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW

*************************************************************************************

TTW brings forward investment plan to boost growth

Published on February 3, 2011

Thai Tap Water Supply (TTW) will bring forward its 2012 investment plan on renewable energy to this year to boost revenue to growth by 10 per cent.





Managing director Sompodh Sripoom said on Tuesday that if the company did not invest in new business such as renewable energy, its revenue this year would grow by just 7 per cent from Bt4.42 billion in 2010.

TTW aims to invest in projects that have already started operation so that it can generate revenue immediately.

It is in talks on many projects, but Sompodh declined to reveal details.

He said the company was also looking for opportunities to invest overseas, particularly in existing projects.

Although the company expects revenue from its existing business to grow by less than 10 per cent, its net profit this year is estimated to see double-digit growth, since its financing costs will reduce from the debt repayment of Bt450 million to Bt460 million this year, Sompodh said. TTW has a debt ceiling of Bt6 billion to Bt8 billion this year. So if it invests in renewable energy, its maximum budget is Bt8 billion, he said.

TTW in 2010 generated revenue of Bt4.420 billion, increasing from Bt4.067 billion in 2009. It recorded consolidated net profit of Bt2.062 billion compared with Bt1.593 billion in 2009. The company's board of directors approved paying a dividend on 2010's operating result of Bt0.35 per share. It has already paid an interim dividend of Bt0.15 per share.

Sompodh said the company this year had no plans to invest in increasing water-supply capacity, as the capacity of 440,000 cubic metres per day is enough for the next four years.

The company has expanded water-supply capacity last year from 320,000 cubic metres per day to 440,000. If the company has to increase the capacity, it will make that decision in 2013.

[schmithi]

post1--sithai medias samart synex centel mti stanly ptt delta
post 6-- cpn-crc,autoindustire general secc
post 7-- salee,,hoteloccupationrate outlook,
post 8 suc,qh,lpn,kk,scg
post 9 TR-TCB,THAI,SCNYL,LOXLEY
post 10 KYE,RATCH,CPN
post 11 dusitthani dtc,seafco
post 12 becl,top
post 13 delta.csl.tuf.scg
post 14 hmpro,ttw,cpf,cpn
post 15 solar,mint,bgh,grammy,nki,rpc,scsmg,supalai,ticon,raimon,uv,jutha,
psl,thai,asiametal.
post 16 hana,bira holding
post 17 BWG,ah,centel.expor4ts surprise to upside in 2-2009
post 18 econommyupdate,scg,itd,hana,rpc,jmart,eastw,pb
post 19 glow,MCOT,HANA,BEC,BECL,GRAMMY,TTW
post 20 thl,tuf
post 21 tcap,eöectronics news positiv,samativey,itd,pttch
post 22 TTA,SSC,CIMBT,spali,bki, 2 x sf,stecon,oishi,cpn,cpf
post 23 AMATA
post 24 BH,QLT,TOyo-thai,ssi,eastw,suc,economy outlook,siri
post 25 PTT
post 26 CPF
post 27 PTL,SCNYL-SCSMG toechter der SCB ,CONSUMER CONFID.PSL,THAi
post 28
post 29 PTT
post 30 AMATA, CPF
post 31 BAT-3K
post 32 SCG,RATCH,SITHAI,pttep
post 33 TUF
post 34 CPF
post 35 CPF-Q2
post 36 hana,mint,ps,cpf,,tta,bgh,siri.hompro,bigc,oishi,age,autopa
ah,pttep
post 37
post 38 AMATA
post 39 delta,mcot,bec
post 41 spali
post 42 PTT,spali,tta,robins,insurance 18% growth,MTI(muangthailife
thaicarasales 18% uo new high sing straight times
post 44 TUF seafood,
post 45 grammy,
post 46 SIRI
post 47 CPF
post 48 amarin,irp,pranda,cmo,mataput-econom
biggest solarplant thai,
post 49 Insurers
post 50 AMATA
post 51 SIRI
post 52 AMATA
post 53 SCNYL
post 54 siri
post 55 mcot,futurepf,egat,4,1% inflation ECO,DTC
post 56 SCNYL - Muang Thai (Major life assurers)
post 57 SCNYL
post 58 SCNYL
post 59 POST
post 60 -
post 61 CPF
post 62 SIRI
post 63 CENTEL
post 64 KCE
post 65 BGH
post 66 TBANK, TCAP
post 67 Banpu
post 68 CPF Q2&3 2010
post 69 TF
post 70 SIRI
post 71 Banking KBANK, SCB, TISCO
post 72 LPN
post 73 Q2 Banken BBL, TMB, KTB, TCAP
post 74 "Proprietary trading "
post 75 BLS
post 76 BJC
post 77 SAT
post 78 TUF, MINT
post 79 TUF
post 80 Q2 GDP, TUF
post 81 THAI
post 82 ADVANC
post 83 SET Outlook, Q2 Banken, Automotive, KBANK
post 84 KCE
post 85 TRU
post 86 THAI, CPN
post 87 TTA, TCAP, Brokerage
post 88 PTTEP
post 89 Strong Thai Baht & Agriculture
post 90 LPN, Thai Baht
post 91 BLAND

Korrektur Posting-Nummern

post 88 Die reichsten Thais
post 89 BANPU, THAI
post 90 Tourism
post 91 Strong Baht impact on exports
post 92 TUF
post 93 Thailand lures Japanese exporters
post 94 PTTEP,Banks
post 95 DTAC, KK
post 96 Brokers
post 97 THAI
post 98 TUF
post 99 PTTEP, Energy crisis
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
*************************************************************************************




TVO benefits from palm oil shortage

Published on February 4, 2011

The shortage of palm oil and consequent soaring price are moving consumers to buy soybean oil instead, which is good news for Thai Vegetable Oil (TVO), a leading soybeanoil producer, brokerage houses say.


DBS Vickers Securities (Thailand) says the company's outlook is robust, with sales volume boosted by the palmoil shortage and higher margins from rising soybean prices. It expects TVO's fourthquarter 2010 earnings to jump 60 per cent to Bt529 million, on a 15percent gross margin, compared with 9.2 per cent in the third quarter. TVO reported net profit of Bt954.27 million in the first nine months.

DBS also expects this year's earnings to surge 35 per cent to Bt2 billion on higher margins, higher volumes and a lower tax rate. In the fourth quarter of 2010 alone, the sales volume soybean oil was expected to rise 20 per cent from the previous quarter because of the palmoil shortage. Soybean prices surged 54 per cent over the last six months to US$14.22 (Bt438.75) per bushel currently. The upward trend should persist, given tight supply and strong demand.

According to research by Kim Eng Securities, TVO will enjoy higher sales volumes as customers turn to soybean oil instead of palm oil. TVO is expected to show impressive performance in the first quarter of this year.

Kim Eng noted that the soybeanoil industry might ask the Commerce Ministry to increase the price of the oil to Bt55 per bottle from Bt46 because of the higher cost of soybeans.

Higher demand and prices will strengthen TVO revenue in 2011, and it will increase production capacity to cash in on the situation. The brokerage house forecasts TVO's revenue to grow by 15 per cent to Bt24.18 billion.

Under the estimated gross profit margin of 12 per cent, Kim Eng predicted that TVO would post net profit of Bt1.85 billion this year, an increase of nearly 22 per cent from the expected 2010 net profit of Bt1.52 billion.

TVO will report its 2010 operational performance to the Stock Exchange of Thailand soon.

Kim Eng Securities recommends that investors buy TVO stock because of the bright outlook for soybeanoil prices.

Finansia Syrus Securities expects TVO's net profit in the fourth quarter of 2010 will be a record for the company. Finansia estimated that fourthquarter earnings would increase by 50 per cent quarter on quarter and 63 per cent year on year.

The outstanding growth in the fourth quarter was due mainly to the shortage of palm oil, sending sales volumes up 20 per cent from the third quarter, while the price increased by 6 per cent.

The securities firm predicts China will resume soybean imports after suspending them during the Lunar New Year. This will boost the soybean price to $15 per bushel.

However, the local soybean price might decline in the second quarter because March to June is Brazil's harvest and export period.

The trend of higher prices of soybean oil and soybean meal will help boost TVO profit in 2011 to Bt1.84 billion, Finansia said.

[ThaiClaus]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 123 IVL

*************************************************************************************

IVL maintains steady expansion strategy via mix of acquisitions and new projectsBy Achara Deboonme
The Nation
Published on February 8, 2011


They say that success is not made overnight, a maxim that certainly seems to be taken on board by Indorama Ventures, whose expansion strategy comprises extensive planning for both the acquisition of manufacturing plants and investment in greenfield projects.


Richard Jones, the company's head of investor relations communications, said in an interview that for the acquisition of an existing facility, the company normally takes six months before clinching the deal.

"Many business owners approach us about a sale, as in many cases they own different businesses and want to sell off something unwanted. Concentrating on a particular type of business, our company is in a good position to attract that sort of offer," he said.

Right after receiving an approach, Indorama Ventures starts with an inspection, with the focus on getting detailed information on potential rawmaterial suppliers and clients, as well as on the logistics route.

For instance, he said, one of its PET (polyethylene terephthalate) plants is located near a refinery, which guarantees the constant supply of paraxylene - a raw material for making PET bottles. Before the acquisition of the plant, it was necessary to clinch a longterm supply deal with the refinery. The plant is also in the proximity of CocaCola bottling plants, which guarantees the demand for its output.

Jones said the next phase is for a special team to be dispatched to inspect the production site, with the machinery being in focus. A plant that owns machinery more than 10 years old would be ignored on grounds of age and lack of fuel efficiency, as replacing such equipment is costly and makes the investment unviable.

"Our goal is clear. For an acquisition, the average annual return on capital employed in the first three years must be at least 15 per cent," he said, while lauding the 16 per cent achieved by the company last year.

The rate for greenfield projects is set the same, and the company applies the same logistics criteria to support investment decisions. For Jones, this is one of the main reasons the company is penetrating the Middle East.

Indorama Ventures yesterday announced a plan to acquire a 75 percent stake in Germanybased Trevira, which is engaged in polyesters, staple fibres and specialty filaments.

Indorama Ventures' group chief executive officer Aloke Lohia said Trevira's research and development would allow the company to come up with new valueadded products to meet customers' needs in the future.

Trevira owns two manufacturing facilities in Germany, with a combined capacity of 120,000 tonnes per annum. It also owns a plant in Poland, processing fibres and filaments manufactured in Germany.

Indorama Ventures also announced it would expand its PET plant in Romania and invest in a greenfield project in Nigeria this year, while in the period through 2014, the company will invest in two greenfield projects, in India and the Middle East. It also looks forward to taking over a plant in the Middle East.

For purified terephthalic acid, two greenfield projects are planned in India and the Middle East during the fouryear period, besides the acquisition of a plant in Asia.

For fibre, the company sees the opportunity to invest in a greenfield project in the Middle East and a brownfield project in Indonesia. It also plans two acquisitions, one each in Asia and Europe.

Under the investment plan, Indorama Ventures aims to boost its combined capacity from 3.2 million tonnes last year to 10 million in 2014.

-------------------------------------------------------------------------------------

http://www.trevira.de/de/ueber-uns/unternehmen.html

Polyester-Konsortium übernimmt Trevira
Sinterama & Indorama Ventures unterzeichnen Vereinbarung mit Werner Schneider

Bobingen/Neu-Ulm, den 07.02.2011

Die Trevira GmbH erhält neue Eigentümer. Ein Konsortium von Indorama Ventures PCL (Thailand) und Sinterama (Italien) wird den Polyesterfaserhersteller aus Bobingen übernehmen. Am 04.02.2011 wurde mit Wirtschaftsprüfer Werner Schneider in Neu-Ulm ein Kaufvertrag unterzeichnet. Schneider hatte die Trevira nach der Insolvenz in 2009 am 1.1.2010 neu gegründet und fungiert seither als Anteilseigner und Aufsichtsratsvorsitzender des Unternehmens. Die Investorensuche war in der zweiten Jahreshälfte 2010 angekündigt worden und findet nun ihren planmäßigen Abschluss.

Konsortium von strategischen Eigentümern
Die Trevira GmbH mit den deutschen Standorten Bobingen, Guben und Hattersheim sowie der polnischen Produktionsstätte in Zielona Góra wird unter einem von den neuen Eigentümern gegründeten Joint Venture in das globale Netzwerk von Indorama und Sinterama eingebunden, jedoch weiterhin als starkes und eigenständiges Unternehmen mit einem unabhängigen Marktauftritt agieren.
„Wir haben im vergangenen Jahr die finanzielle Basis für die neue Trevira gesichert, die Restrukturierung planmäßig fortgeführt und zudem auch wieder investiert. Trevira hat 2010 mit einem besseren Ergebnis abgeschlossen als es der ohnehin ehrgeizige Plan vorgesehen hat. Die Verbindung eines europäischen Spezialisten für gefärbte Garne mit globaler Aufstellung und dem weltgrößten Polyesterhersteller bietet Trevira nun eine nachhaltige und sichere Perspektive“, kommentiert Schneider. „Ich bin sicher, dass wir mit diesen Partnern die Investoren gefunden haben, die am besten zu Trevira passen.“

Langfristige Perspektiven
Für Aloke Lohia, Group CEO von IVL, bietet diese Übernahme die Chance, ihre Marktführerschaft und das Spezialfaserengagement zu stärken. „Die international anerkannte Marke Trevira passt gut zu unseren langfristigen Wachstumsplänen, und wir sehen eine Reihe von Möglichkeiten für beiderseitig vorteilhafte Synergien zwischen Trevira und unserer globalen Organisation.“
„Wir sehen Trevira als langfristige Investition und wichtige Erweiterung“, begründet Paolo Piana, Präsident von Sinterama, die Übernahme. „Unsere Produkte und Produktionsstätten ergänzen sich - somit können wir unseren Kunden ein stärkeres und flexibleres Netzwerk für Spezialitäten anbieten“. Außerdem wolle man die Marke Trevira weiter stärken und deren weltweiten Ausbau vorantreiben.
Trevira andererseits profitiert durch die Einbindung in dieses Netzwerk und einen finanzstarken Konzern. „Für unsere Kunden und Partner bedeutet dies, dass wir in Zukunft global noch besser präsent sein werden“, kommentiert der neue Trevira Geschäftsführer Klaus Holz. „Vor allem aber bedeutet es die Sicherstellung der Kontinuität unserer guten Beziehungen.“

Übernahme noch im 1. Quartal 2011 möglich
Die endgültige Übernahme soll nach Abwicklung der notwendigen rechtlichen und organisatorischen Formalitäten erfolgen. „Wir erwarten jedoch, dass diese zügig über die Bühne gehen und dass wir das Closing noch im 1. Quartal abschließen können“, so Werner Schneider.

Zukünftiges Management-Team
Das erfahrene Management-Team der Trevira mit Geschäftsführer Klaus Holz wird das Unternehmen weiterführen. Nach dem Closing soll das Management durch einen weiteren Geschäftsführer verstärkt werden. Dies wird Robert Gregan sein, der auch den Vorsitz der Geschäftsführung übernehmen wird. Mit seiner umfangreichen Erfahrung in Führungspositionen bei führenden Faser- und Rohstoff-Firmen wird Gregan die Geschäfte von Trevira mit dem bestehenden Team weiter aus- und aufbauen.
Geschäftsführer der Holding-Gesellschaft soll Paolo Piana werden, der somit eine tragende Rolle für eine erfolgreiche Zusammenarbeit der Eigentümergesellschaften und ihrer Beteiligung an Trevira ausfüllen wird.

Bei dieser Transaktion traten für die Investoren Indorama Ventures und Sinterama die UniCredit Bank AG, Deutschland, als Finanzberater, und Orrick’s (Frankfurt und Mailand) als Rechtsberater auf.





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Über Trevira GmbH:
Trevira GmbH ist ein bedeutender europäischer Hersteller von hochwertigen Markenpolyesterfasern und -filamentgarnen für die Heimtextil-, Bekleidungs- und Automobilindustrie sowie für den Hygienebereich und technische Anwendungen. Produziert wird in Deutschland und Polen. Das Unternehmen hat rund 1.350 Mitarbeiter sowie ein Umsatzvolumen von rund 240 Mio. Euro. Sitz des Unternehmens ist Bobingen bei Augsburg.

Über Indorama Ventures PCL, Thailand
Indorama Ventures Public Company Limited, Thailand (Bloomberg ticker IVL.TB) ist ein führender vollstufiger Polyesterhersteller mit einem starken globalen Netzwerk und Produktionsstätten in Asien, Europa und Nordamerika. Seine Produkte bedienen führende Markenhersteller in verschiedenen Endverbrauchermärkten, einschließlich der Lebensmittel- und Getränkeindustrie, im Hygiene- und Gesundheitswesen, Automobilbereich, Textilien und anderer Industrien. Das Kerngeschäft machen Polyestervorprodukte (PTA, PET, Polymere) sowie Polyesterfasern und -garne aus, die weltweit hergestellt und vertrieben werden. IVL erreichte 2009 mit rund 3,500 Mitarbeitern weltweit einen konsolidierten Jahresumsatz von rund 2.3 Mrd US $.

Über Sinterama, Italien
Sinterama mit Sitz in Biella (Italien) ist ein führender europäischer Hersteller von gefärbten Polyestergarnen für die Automobilindustrie, Heimtextilien, Bekleidung und technische Anwendungen. Das Unternehmen ist in fünf Ländern vertreten und verfügt über sechs Produktionsstätten: in Italien und Großbritannien in Europa, in der Türkei, Brasilien und China. Die Gruppe erreicht mit 650 Mitarbeitern einen Umsatz von 120 Mio. € und verfügt über eine Kapazität von annähernd 30.000 Tonnen Filamentgarnen.

[ThaiClaus]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD

*************************************************************************************

Ayudhya Insurance goes on shopping spree to be top 10
Published: 14/02/2011 at 12:00 AM
Newspaper section: Business

Ayudhya Insurance Plc, a Bank of Ayudhya affiliate, plans more acquisitions as it strives to rise into the top 10 among general insurers from 18th place now.

The firm, of which the Allianz Group owns 16.84%, failed to achieve its top 10 ambition last year despite paying CIMB Thai Bank Plc 392 million baht for a 99.99% stake in BT Insurance (BTI).

BTI had total assets of 618 million baht and liabilities of 327 million as of Dec 31, 2009. Revenue from written premiums for that year amounted to 265 million baht for a net profit of 34.4 million.

The consolidation plan calls for Ayudhya Insurance to transfer certain insurance-related assets, including any new businesses, to BTI, which will continue to operate as a non-life insurer.

The transfer will be completed by year-end, at which time Ayudhya Insurance will have surrendered its non-life insurance licence to the Office of the Insurance Commission (OIC).

Ayudhya Insurance will remain listed on the SET after returning the licence but will convert to an investment holding company, with its primary activity its 99.99% interest in BTI.

To improve the financial strength of BTI, which is now working with the OIC and the Commercial Registration Department to change its name to Sri Ayudhya General Insurance, 900 million baht was recently injected, raising its registered capital to 1.2 billion baht.

Rowan D'Arcy, Ayudhya Insurance's president and chief executive, said the name change would be completed by March 1.

"Ayudhya Insurance, as an investment holding firm, will look at more potential acquisitions of other insurance firms to merge them with our existing insurance affiliate in a strategic move to become a top 10 player," he said.

"The new investment holding firm will in the future also potentially expand into acquiring life insurance companies."

The regulator's new risk-based capital requirements that are due to take effect in September will likely force many weaker insurers, particularly smaller firms with low capital reserves, to consider mergers and acquisitions, said Mr D'Arcy.

Allianz entered Thailand 10 years ago by acquiring a stake in Ayudhya CMG Life, the country's third-largest life insurer. The name was later changed to Ayudhya Allianz C.P. Life.

The German firm has also co-ventured with the CP Group in Allianz C.P. General Insurance Co.

For the first nine months of last year, Ayudhya Insurance reported written premiums of 1.5 billion baht, up 11% from the same period in 2009.

Net profit for the period was 257 million baht, up from 228 million a year earlier.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP

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Bank earnings to grow 21% this year, DBS predicts

Published on February 15, 2011

Banks will see their earnings grow by 21 per cent this year on stronger loan growth of 10.7 per cent, according to DBS Vickers Securities (Thailand).

Demand will be driven by corporate and SME (small and mediumsized enterprise) customers for fixedinvestment and workingcapital loans.

Banks' net interest margin will widen by 5 basis points, while fee income will increase 13 per cent and credit cost will fall by 60 basis points. Return on equity is expected to improve to 15 per cent from 13.7 per cent last year.

The securities house said yesterday that it was a good time to pile up bank stocks.

"Thai banks are trading at 1.5 times earnings per book value, lower than regional peers' average of 1.8 times. Banks in Hong Kong are trading at 1.9 times, Indonesia 2.5 times and Malaysia 2.2 times," it said in a research note.

"We believe Thai banks, as the regional laggards, will eventually catch up because of strong growth in 2011. The sector has experienced heavy selling in the last two months, with the sector index dipping 12 per cent on shortterm profittaking.

"But we see this as an opportunity to accumulate key banking stocks on weakness, to capitalise on the strong growth momentum in 2011," it said.

Kasikornbank, Bangkok Bank and Krung Thai Bank are its top picks, because of their strong balance sheets and position to benefit from the rises in interest rates and in loan demand from big and small borrowers.

DBS favours KBank for its strong asset quality, lowest nonperformingloan ratio and highest feeincome growth among peers. Bangkok Bank (BBL) has a strong balance sheet and highest NPL coverage ratio, while KTB is a beneficiary of the Thai Khem Khaeng stimulus package and higher government expenditures.

"We believe KBank and BBL will benefit from stronger loan demand by corporations and SMEs in 2010 along with stronger economic growth," it said.

**********************************************************************


PTTEP starts drilling in Australia in April

Published on February 14, 2011

PTT Exploration and Production Plc plans to drill two petroleum wells in April in Australian waters, after winning the clearance to continue with the exploration activities.


The activities have been suspended since 2009 following the Montara oil spill.

Bloomberg quoted PTTEP as saying in a filing to Australia's environment department that the proposed drilling, about 690 kilometres west of Darwin in Australia's Northern Territory, is aimed at evaluating the Cash and Maple gas field discovery and expected to last 90 days.

It said it is in the "final stages" of negotiating an agreement to purchase Cue Energy Resources's 20 per cent stake in the Cash and Maple venture.

PTTEP on February 4 won the clearance from the Australian government

[ThaiClaus]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL

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Diese Meldung der Gesamtübernahme von SCNYL durch die SCB enttäuscht mich und macht mich traurig. Vor allem der Preis den die SCB für die Anteile von NYL zahlt finde ich eine Frechheit - ~267 Baht/Aktie ist ein Hohn. Diese Firma ist 800 Baht wert in 2011 und würde 2012 1000 Baht wert sein. Wachstumschancen die nächsten Jahre hervorragend - Top Management. Top Wert - war über Jahre eine sichere Bank mit Gewinnwachstum von über 25%. Jetzt sackt die SCB diesen Topwert ein, zu einem Spottpreis.
Warum also dieser niedrige Preis? - da haben ein paar Gauner einen Deal gemacht, denke ich. Jetzt bin ich gespannt was die SCB den restlichen Aktionäre bietet. Aber es sieht nicht gut aus. Heute SCNYL -15% .... auf 438 Baht ( Hoch 2010: 600 Baht )


SCB assumes control of SCNYL
Buyout mirrors KBank's foray

* Published: 18/02/2011 at 12:00 AM
* Newspaper section: Business

Siam Commercial Bank (SCB) plans to acquire all shares in Siam Commercial New York Life Insurance (SCNYL) from existing shareholders in a deal worth 8.4 billion baht, rounding out its full range of financial services under its universal banking strategy.

SCB president Kannikar Chalitaporn said in a statement to the Stock Exchange of Thailand (SET) that SCB would acquire 31.46 million shares or 47.33% of SCNYL from New York Life and its Thai affiliate PMCC (Thailand) Ltd for 266.89 baht apiece.

After the acquisition, SCB will hold 62.95 million shares in SCNYL or 94.66% of the total issued and outstanding shares of the life insurer.

SCB will also make a tender offer for the remaining shares outside its control.

The deal is subject to the customary conditions including regulatory and SCB shareholder approval and is expected to close next month.

SCNYL is a joint venture between SCB (47.33%), the New York Life subsidiary New York Life International Inc (23.89%) and PMCC (23.44%). The remaining 5.34% is owned by public shareholders.

New York Life International and PMCC (Thailand) formed a joint partnership with SCB in 2000.

During that period, the venture was called Siam Commercial Life Assurance, with a share price on the SET of only 19.50 baht. New York Life then offered the bank 23 baht per share.

SCNYL shares fell yesterday by 14.8% to 438 baht from 514 baht on Wednesday on the deal's announcement.

Mrs Kannikar said SCB considered life insurance an important component of its long-term business strategy.

"The bank foresees greater opportunities in Thailand's life insurance sector and plans continuous growth for the business," she said.

SCNYL has 12 million customers nationwide. Last year, it reported 24.6 billion baht in total written premiums, a significant increase from only 843 million baht in 2000.

As of last September, total assets were 62.5 billion baht, up from 2.12 billion in 2000.

The life insurer has registered strong net profit increases in recent years - 1.58 billion baht in 2009, up from nearly 1.2 billion in 2008 and 798 million in 2007. For the first nine months of 2010, SCNYL posted a net profit of 1.59 billion baht, up from 1.18 billion in the same period of 2009.

Separately, Ongorn Abhakorn na Ayuthaya, an executive vice-president at SCB, said that SCNYL would become a financial subsidiary.

SCB expects to improve SCNYL's business operations and revenue in the long term through a new business model that would free up the bank to cross-market financial products.

"This is similar to the recent entry of Kasikornbank (KBank) into life insurance," she said.

KBank acquired 19.19 million shares in Muangthai Fortis Holding in 2009, increasing its stake in the company to 51% in a bid to take control of Muang Thai Life Assurance.

An industry source deemed the purchase appropriate, saying that over the past decade most of the life insurer's revenue had stemmed mainly from sales through banking channels.

Sales through other channels, particularly agents, have become available only in the past two years.

The source said the share repurchase by SCB was unlikely to affect SCNYL's marketing and operations since bancassurance already dominates the life insurer's written premiums.

"It's a deal that New York Life finds it difficult to argue with," said the source. "It looks like a forced purchase."

Dick Mucci, the chairman and chief executive of New York Life International, said the joint venture with SCB already saw that most of its sales were being through the bank's distribution channel.

He said SCB was very interested in fully integrating the operation into its consumer banking platform.

Given SCB's strategic focus and business model, both partners believed SCB should take over the business and New York Life should divest its stake, he said.

[schmithi]

CREDIT RATING
post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP

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Moody's downgrades PTT and PTTEP

Published on February 21, 2011

Moody's Investors Service today downgraded PTT Plc's foreign currency bond ratings from "A3" to "Baa1", due to the greater business risk to be induced by the group's aggressive international expansion particularly in Canada's oil sands project.



PTT CFO Tevin Vongvanich rebutted that the acquisitions would in the future strengthen the country's energy security and generate long-term returns for PTT Group. He said that the new rating, equivalent to Thailand's sovereign rating, indicates a sufficiently strong financial status of the group.

"The downgrade would not affect the current financing cost. For future funding of which cost will depend on market condition, PTT would consider options with least negative impacts," he said in a statement.

PTT Exploration and Production's senior unsecured bond rating was lowered from A3 to Baa1. To Moody's, the company's 40 per cent stake investment in Kai Kos Dehseh Oil Sands project (KKD project) in Canada produced the reason for the downgrade. PTT was affected as the subsidiary generates half of the group's earning before tax, interest, depreciation and amortisation (EBITDA).

Renee Lam, a Moody's vice president and senior analyst, said in a statement that the action reflects the weakening credit profile of PTTEP due to the huge borrowing involved.

"PTT's business risk is also elevated by its increased focus on international operations and new businesses potentially through acquisitions. PTT operates on a smaller scale when compared to its international, integrated oil & gas peers, and its conservative use of debt has been a major factor supporting its previous rating. Nonetheless, leverage has increased as there are more debt-funded investments for the group," added Lam.

Moody's believes that the debt-funded nature of this investment has aggravated the risk exposure of PTTEP. He added that though growth in production and cashflow could be expected in 2012 with the Montara project going on stream, the extent of de-leverage would be moderate given the significant debt funding for the KKD project.

Moody's expected that the debt for proved developed reserves would rise to over US$9 barrel of oil equivalent (boe) in 2011 from about $6 in 2010, and stay at around $7.5 over 2012-2013.

Based on PTTEP's expectation to invest Bt65-Bt70 billion annually for 2011-2015, compared with average Bt50 billion annually from 2007 to 2009, Moody's project the 3-year average finding and development cost to rise substantially to over $20/boe in the next two years, from about $13/boe in 2010.

Moody's is also concerned about the company's appetite for acquisitions. Downward pressure is expected if it further engages in debt-funded acquisitions. The rating pressure could drop if PTTEP can reduce its debt leverage because of organic growth, asset divestment, or equity issuance, or if there is a rating upgrade of PTT.

According to the rating company, PTTEP's recent investment in the Kai Kos Dehseh Oil Sands project (KKD project) in Canada has required sizeable upfront capital expenditure, as well as a long investment period of over five years, to ramp up production. While this new investment could contribute towards significant long-term production growth, as well as assist in business diversity, development risks are high due to cost overruns and delays.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
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TMB to keep focus on mortgage refinancing

Published on February 23, 2011

TMB Bank will continue with its successful focus on mortgage refinancing this year to boost home loans to Bt15 billion out of its Bt55 billion lending portfolio.

The bank has built up its refinancing loans since last year, when onethird of all mortgages came from refinancing, executive vice president Kanchana Rojvatunyu said yesterday.

The refinancing market showed steady growth but according to a survey by the bank, about 80 per cent of homeowners are undecided about refinancing, while 10 per cent are interested and 10 per cent have already used the service, she said.

The 80percent market is very interesting, so the bank will attempt to approach those homeowners about refinancing. The rising trend in interest rates is expected to attract homeowners to consider refinancing.

Half of its new home loans this year are projected to come from refinancing.

The refinancing service is part of the bank's strategy to avoid the impact from the lower loan-to-value (LTV) ratios. Since January 1, financial institutions have been required to cap mortgages at 90 per cent of condominium prices. The LTV for lowrise housing will be capped at 95 per cent starting next January 1.

TMB will target owner occupants who have their first home and are thinking about refinancing. Campaigns will be launched to attract customers of other banks to refinance their old loans with TMB.

TMB is offering a zero interest rate for the first three months of its fiveyear loans. Application fees are waived for new borrowers and mortgage registration fees for refinancing customers.

Yesterday, TMB in cooperation with Southeast Insurance Co launched free home insurance for mortgage customers.

TMB will pay insurance premiums for existing and new customers, so a borrower can save a maximum of Bt100,000.

TMB Bank chief executive officer Boontuck Wungcharoen said mortgages represented 15 per cent of the total portfolio and that share would not change even though home loans this year are expected to increase by Bt15 billion.

[ThaiClaus]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI

*************************************************************************************

IVL targets revenue and output increases

* Published: 23/02/2011 at 12:00 AM
* Newspaper section: Business

SET-listed Indorama Ventures Plc (IVL) expects revenue growth of 70% to US$5.19 billion this year, with production volume expanding by a similar ratio from 3.5 million tonnes last year.

Aloke Lohia, chief executive of the world's largest producer of polyethylene terephthalate (PET), said the group would spend at least $1 billion on capital expenditures this year, a five-fold increase from $200 million last year, as part of a five-year, $3.8-billion investment plan through 2014.

This year's planned capital expenditures exclude six merger and acquisition (M&A) deals being discussed.

"We project at least 70% higher revenue this year from 3.05 billion [in 2010] on volume growth and strong demand for our products. Plus our fully integrated operations have enhanced our presence globally," said Mr Lohia.

Polyester is becoming increasingly used as a replacement for cotton, prices of which have surged 50% since last August as more land is used to plant energy crops.

"This is favourable for integrated polyester chain companies like Indorama," said Mr Aloke.

Acquisitions announced earlier in the US, Mexico, Indonesia, Poland, Thailand and China as well as increasing actualisation at IVL's greenfield AlphaPet plant in Alabama will result in additional capacity of 2.1 tonnes, amounting to 5.8 million tonnes this year.

The company is targeting total capacity of 10 million tonnes by 2014.

IVL's integrated product spread is now above $500 a tonne, up from last year's average of $483. In the fourth quarter of 2010, earnings before interest, taxes, depreciation and amortisation rose to $170 a tonne against the full-year average of $120, said Mr Lohia.

He said that apart from six ongoing M&A talks, IVL is studying greenfield investments in India and the Middle East, where no M&A options are available.

"We have another $2.8 billion to spend until 2014," he said, adding that financing of the full five-year plan was arranged at the end of last year.

IVL expects its debt-to-equity ratio will not change much once the investment plan is completed in 2014, from 0.9 at the end of last year to 1 time.

In 2010, IVL's revenue increased by 31% to $3.05 billion on increased sales in all businesses on volume growth and higher average selling prices. Net profit jumped by 137% to $333 million despite increases in raw material prices.

In the fourth quarter, sales surged 33% year-on-year to $838 million, with the net profit up 223% to $134 million.

Kim Eng Securities has revised its 2011 earnings estimates for IVL to 13.39 billion from an earlier forecast of 11.97 billion baht and against 10.56 billion last year, citing better-than-expected fourth-quarter earnings and projected higher spreads for PET, purified terephthalic acid and polyester.

IVL shares closed yesterday on the SET at 44.25 baht, up two baht, in heavy trade worth 2.09 billion baht.

---------------------------------------------------------------------------------------------------------------------------------------------------------

Sansiri aims for B35bn by looking downmarket

* Published: 23/02/2011 at 12:00 AM
* Newspaper section: Business

The developer Sansiri Plc has set an ambitious revenue target of 35 billion baht by 2013 by expanding its market to low-income homebuyers.

Chief operating officer Wanchak Buranasiri said yesterday the company expected its revenue to grow 10% to 21 billion baht this year, rising to 29 billion in 2012 and 35 billion in 2013. Presales revenue this year is expected to reach 31 billion baht.

This year the company expects revenue will be generated from 23 new projects, including 12 townhouse and single-detached housing estates worthy 13 billion baht and 13 condominiums with a total value of 17 billion baht.

The company to date has focused mainly on upper-income residential projects. But stagnant demand in the high-end market last year prompted it to shift its focus to middle- to low-income home buyers, resulting in a proportion of 40% middle-income developments, 30% high-end and 30% low-end.

Mr Wanchak said its new lower-income properties would consist of condominiums in a price range between one million and 1.3 million baht, where it foresees the strong demand.

For the property sector overall, he said, the main challenges this year would be financial costs that will rise in line with interest rates, coupled with the construction material cost increases of 1-3%, while inflation could also cause an erosion of demand.

"However, we believe that market situation this year will be better than last year, given the continued strength of the economy," he said.

Mr Wanchak said Sansiri was now the second largest property firm in the country, with a market share of 11.8%, behind only Pruksa Real Estate at 17.1%, claiming that longtime residential leader Land & Houses had slipped to third place with an 11.5% share, based on Sansiri's information on each company's pre-sales backlog as of Feb 15.

"There are around 10 major players in the market taking up around 70% of total residential projects," said Mr Wanchak, adding that as developers learned hard lessons during the 1997 financial crisis, most companies should have their own strategies to cope with any oversupply issue.

However, he admitted some areas showed signs of a surplus, but it was still controllable.

Sansiri plans to hold an international roadshow in Hong Kong and Singapore next month.

Sansiri shares (SIRI) closed on the Stock Exchange of Thailand at 6.2 baht, up 15 satang, in trade worth 164 million baht.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
*************************************************************************************


10-YEAR PLAN
PTTEP eyes BT1.4 trn investment

Published on February 24, 2011

PTT Exploration and Production is planning investment of US$45 billion (Bt1.4 trillion) over the next 10 years to maintain business growth, company director Pichai Chunhavajira says.

Pichai said the company would need to raise more than $20 billion to finance overseas exploration and production. It is yet to be decided whether the company will raise capital or borrow to finance the investment.

Under the plan, by 2020, production capacity will be boosted to 900,000 barrels a day from 300,000 at present. Oil reserves in the year would rise to 3 billion barrels, from 1.1 billion at present.

He said the company had a number of options to achieve the target, including mergers and acquisitions, equity participation and acquisition of new operating licences. At present, the company's production costs are $20 per barrel at established fields and $15 at other fields.

In the next five years, Bt504 billion is earmarked for investment. The company's chief executive officer, Anon Sirisaengtaksin, said on Tuesday that the company was considering ways of raising capital.

Moody's Investors Service, concerned about the company's higher leverage to finance expansion, said recapitalisation would be a way to lower downward risk in the foreign-currency rating. On Monday, it downgraded PTTEP one notch to "Baa3".

Pichai said the price hike of Dubai crude oil to more than $104 per barrel would help boost financial performance of the PTT group in the first quarter of this year.

He made the remark at "TLCA Annual Risk Management Conference 2011", hosted by the Thailand Listed Companies Association.

He said oil-price fluctuations were among business risk factors this year, adding that investors should always review investment plans.

He said this year would be a golden period for agricultural products |that could be used as raw materials in the industrial sector, citing cassava, which could be used in bioplastic production.

Kosit Panpiemras, executive chairman of Bangkok Bank, said at the same seminar that challenges this year included globalisation and technology.

Businesses have to keep pace with global trends and seek collaboration in overseas investment, as well as capitalise on technology to boost their competitive edge, he said.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
*************************************************************************************




Strong baht helps CPF increase 5year investment budget

Published on February 26, 2011

Charoen Pokphand Foods raised its fiveyear investฌment budget to Bt40 billion from Bt30 billion after the stronger baht helped lower its investment costs. It also expects to boost revenue from abroad to 40 per cent of total revenue by 2015 after completing its overseas investments.

Last year, CPF's revenue from abroad continued to expand, advancing to 26 per cent of the total from the previous year's 19 per cent.

The increased budget will not affect CPF's cash flow given Bt18 billion earnings before interest, taxes, depreฌciation and amortisation, said company president Adirek Sripratak.

CPF, currently investing in 11 countries, is studying an opportunity in Tanzania for animal feed and farms in an initial stage and, later, food production. It also expects to acquire a 25percent stake worth Bt500 million in a chickenfeed producer in Cambodia from the Charoen Pokphand Group this quarter.

CPF's 2010 revenue rose 15 per cent to Bt190 billion, driven mainly by a 55percent rise in overseas sales. Its consolidated net profit rose 33 per cent to Bt13.56 billion.

It expects 2011 revenue and profit to grow at least 10 per cent through expansion of the overseas market, where margins are higher.

Its exports are anticipated to rise 40 per cent to 70,000 tonnes this year, with shrimp business likely to grow 20 per cent and chicken exports to rise 10 per cent.

[ThaiClaus]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
*************************************************************************************

Minor hopes to ride the tide of hotel recovery
Published: 2/03/2011 at 12:00 AM
Newspaper section: Business

Minor International Plc (MINT) projects its bottom line will grow over 20% this year thanks to the recovery of the hotel business, which it hopes will manifest in the second and third quarters.

This year, the average occupancy rate of MINT's hotels is expected to increase to 60% from 52% last year. The company plans to open St. Regis Hotel in Bangkok late this month and Anantara Resort Maldives will be launched this year.

Besides, it expects more residential property sales this year, having sold the condo units at St. Regis Residence since last December. As well, at least six new hotel management contracts for its Anantara brand will be secured this year.

"While we expect a higher hotel occupancy rate this year, our average daily rate will be kept at 5,800 baht or increase slightly by 2-3%," said director Pratana Mongkolkul, adding that hotel revenue will surge by 12-14% to 729 million baht this year.

In the first two months of the year, the hotel business showed encouraging signs. The average occupancy rate of MINT's hotels reached 90% in Pattaya, 80% in Hua Hin and 77-75% in Phuket. In Bangkok, the rates were 60% for Four Seasons and 74% for JW Marriott.

For the restaurant business, MINT expects revenue from its 1,048 restaurants to increase by 12-14% to 11.56 billion baht this year. Yet the expansion will be made to increase the number of outlets to 1,152 by the end of the year.

Same-store sales growth is expected to continue along with improving indicators for the economy, which is projected to expand by 3-5% this year.

Besides, MINT projected the loss from its restaurants in China - six each of The Pizza and Sizzler - will decrease by 20% to 120 million baht this year.

"We're working very hard to reduce the loss from the Chinese operation. Rental cost is a big problem but we now have more experiences to deal with it. We are looking to acquire a local fast-food brand as well," she said.

For the five-year plan ending in 2015, MINT set an investment budget of 10 billion baht, which comprises 4.5 million baht for hotel acquisitions and 5.5 billion for food business expansion.

The company has seriously focused on offshore investment to reduce risks. It expects at least 10 new management contracts will be signed every year.

The number of hotels will reach 75 with total rooms of 5,890 (2,428 rooms under management contracts and 3,462 rooms of its own hotels) by 2015, up from 33 hotels with total rooms of 4,114 last year (2,991 rooms of own hotels and 1,123 rooms for managed hotels).

"We hope to achieve 20% profit growth per year from 2011-2015," Ms Pratana added.

For 2010, MINT reported a net profit of 1.24 billion baht on revenue of 19.08 billion baht, compared to profit of 1.4 billion baht on revenue of 17.28 billion baht in the previous year. Its hotel business fell 12% due to the political crisis in April and May.

MINT shares closed yesterday on the SET at 10.50 baht, down 20 satang, in trade worth 83.9 million baht.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
*************************************************************************************



Indorama completes major buy-outs

Published on March 4, 2011

Indorama Ventures (IVL), the world's leading vertically integrated polyester producer, has completed two major acqui sitions announced at the end of last year.

In November, IVL agreed to acquire INVISTA's polyester resin and polyester staple assets in Spartanburg, South Carolina, and Quertaro, Mexico. The deal has been concluded.

Both sites produce a wide range of polyethylene terephthalate (PET), specialty polymers, fibres and film. Capacity is 470,000 tonnes per annum in Spartanburg and 535,000 tonnes in Quertaro. The acquisition is expected to raise earnings and complement the company's strategy to increase its presence in new higher-growth markets in Central and Latin America.

The company says strong R&D at the plants will enable it to provide innovative products to its customers.

IVL has also completed its acquisition of South Korean SK Chemicals' entire issued capital of SK Eurochem in Poland and SK Keris and subsidiary SK Fibre in Indonesia. The acquisition was announced in December 2010.

SK Eurochem is a manufacturing facility for PET chips with a capacity of 140,000 tonnes per annum.

SK Keris is a PET chips and polyester filament yarn manufacturing facility with a capacity of 160,000 tonnes per annum, while SK Fiber is a polyester filament yarn manufacturing facility with a capac?ity of 36,000 tonnes per annum.

The acquisition in Poland is vertically integrated with a third-party supplier of purified terephthalic acid (PTA), further consolidating the company's low-cost structure.

"These acquisitions allow us to offer a broader range of specialist polymers and fibres to serve customers in Asia and the Americas," said Aloke Lohia, group CEO.


**********************************************************************

Kasikorn Securities aims for No 5

Published on March 4, 2011

Kasikorn Securities, the brokerage arm of Kasikornbank, aims to become one of Thailand's top-five brokers by market share this year.

Executive chairwoman Nattarin Talthong said yesterday that the company has targeted market share in the securities business of 4.7 per cent, which would make it the fifth-biggest broker. Last year the company ranked 13th, with a market share of 3.47 per cent.

To achieve the target, the company will need to raise securities trading volume to Bt500 billion this year, up from Bt400 billion last year. This will mean daily trading volume of Bt25 billion.

Nattarin said the company planned to open 27 new securities trading branches in Bangkok and the provinces, making a total of 47 branches. The brokerage will recruit 150 marketing sales representatives to bring the total to 300.

She said the company was ready for the market liberalisation of trading commission fees next year.

This year the brokerage will cooperate with Kasikornbank and its network to expand the market and will focus on product development catering to customer needs.

"We are confident we can compete with our rivals in spite of intense market competition," said Nattarin.

She said that over the past two years, the Thai market has already opened up to brokerage fee rebates using a slide scale, lowering the average commission fee collected from clients to 0.2 per cent of securities trading value, down from 2.5 per cent. This rate was considered above the industry average, which is in the range of 0.15-0.2 per cent.

Nattarin said the company expected to secure 6,000 new securities trading accounts to add to 22,000 accounts from last year. Of those, 33 per cent were active accounts, higher than the industry average of 26 per cent.

Kasikorn Securities expects to post 32 per cent growth in net profit to Bt324.54 million on revenue of Bt1.35 billion this year, up 29 per cent from last year. Of revenue, about 80 per cent will come from brokerage fees, with the rest from investment banking.

Worawat Suvagondha, managing director for investment banking, said the company expected the proportion of its investment banking income this year to rise to 20-25 per cent, compared to 10 per cent last year.

In the first half of this year, the company has two initial public offerings as well as public-offering and private-placement deals in the pipeline.

Worawat said the company has handled three or four merger and acquisition deals. One of these is a merger between subsidiaries of PTT, PTT Aromatics and PTT Chemical.

"There is likely to be more M&A deals this year, especially in the insurance business as they are required by new rules and regulations to raise minimum capital," he said.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
*************************************************************************************

COAL
Banpu targets big jump in output

Published on March 5, 2011

Banpu, Thailand's largest coal miner, expects output of 51 million tonnes this year, while the average coal price is targeted at about US$90 (Bt2,700) per tonne compared with $74.60 in 2010.

The company also aims to grow its revenue by 40 per cent to Bt90 billion from Bt65.285 billion in 2010.

Chief executive officer Chanin Vongkusolkit yesterday said the expected coal output this year comprised 25.7 million tonnes from Indonesia, 6.4 million tonnes from China, and 19 million tonnes from Australia's Centennial. However, Banpu will book revenue in accordance with its share proportion in each mine in those three countries.

The targeted coal production volume this year is much higher than the 44.7 million tonnes in 2010 after the company acquired Centennial in October. Centennial last year had total output of 17.8 per cent, but Banpu posted revenue from the operation in the final quarter from only 4.5 million tonnes.

He said Banpu also expected the average coal price this year at roughly $90 per tonne. The key driver for coal price is the impact from the floods in Australia early this year, the high coal consumption of 750 million tonnes when compared with 683 million tonnes last year, particularly by China, and the high oil prices. Thus Banpu forecasts its revenue to grow by 40 per cent to around Bt90 billion in 2011.

Because of the lucrative coal price, Banpu has already secured contracts to sell 89 per cent of total coal output this year. The selling price for 60 per cent of the contracts has not been fixed yet. In the first quarter of last year, the fixed price proportion of the contracts that had already been secured was 60 per cent.

Banpu expects to generate revenue of Bt22 billion in the first quarter of this year compared with Bt13 billion last year, thanks to additional revenue from Centennial.

Chanin said Banpu was considering a few options for handling the mining and power-plant businesses in China, as the Daning site so far had not renewed the contract. However, the company is still optimistic about renewal of its contract. It targets coal production in China this year to be 6.5 million tonnes - 3.5 million tonnes from Daning, and 1.5 million tonnes each from Gaohe and Hebi.

Daning generated net profit of Bt2.5 billion for Banpu in 2010. Last year, the Daning coal mine stopped production for three months on the issue of contract renewal, which the Chinese government does on an annual basis.

"We have three coal-fired power plants in China, which generated good revenue and profit to the company. So we have to think carefully if we have to make a decision on the coal-mine and power-plant businesses in that country," he said.

Chanin said the lawsuit by Thai-Lao Lignite (TLL) against Banpu, claiming damages of Bt63.5 billion, was one of the company's risks. He also insisted that Banpu was not involved in the arbitration between TLL and the government of Laos. If the New York Convention rules to enforce the arbitration award requiring Laos to pay a fine of $57 billion to TLL, Banpu would |not have the money to pay that amount.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
*************************************************************************************


Banpu buying into coal deposits in Mongolia

Published on March 10, 2011

Banpu is acquiring a 12.4percent stake in Hunnu Coal, an Australianlisted company with several predevelopment coal projects in Mongolia, DBS Vickers Securities (Thailand) says.

"This is a strategic and lowrisk move for Banpu to tap huge potential in the Mongolian coal market," DBS said in a research note. "However, we are neutral on this acquisition given that all Hunnu's assets are still in the exploration phase and should take at least two to three years to develop before production.

"The acquisition price implies [a] 21percent premium to the closing price yesterday. It is difficult to comฌment on whether the price is fair given that we do not yet know resources and reserves. Banpu will likely have to spend huge capital ... since these are undeveloped areas."

However, the house sees limited earnings drivers in the next two years because of low contracted coal sales at Banpu subsidiary Centennial Coal.

Centennial's earnings "should grow 10 per cent this year, but the impact will be offset by higher interest costs and amortisation of mining property rights. Delayed or nonrenewal of the Daning permit could pose downside risk to Banpu's earnings this year," the note added, referring to Banpu's mining operation in Daning, China.

DBS is maintaining a target share price of Bt762.

After the acquisition by Banpu's wholly owned subsidiary Banpu Mineral Resources (BMS), Banpu will be the biggest shareholder in Hunnu. The 30 million shares were offered in a private placement at 1.5 Australian dollars per share or a total of A$45 million (Bt1.4 billion).

Hunnu has established a strong position in thermal and coking coal deposits in the Gobi Desert and is carrying out extensive exploration for 10 coal projects, two of which have combined coal resources of more than 400 million tonnes

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
*************************************************************************************



Asia Plus to be content with status quo

Published on March 11, 2011

Asia Plus Securities would be satisfied keeping its market share close to last year at 5.26 per cent, as it was not interested in competing on price. "We're not a cost leader but a quality leader. We try to keep commissions at 0.19 per cent," CEO Kongkiat Opaswongkarn said yesterday.

Market share was not a focus for the company as it was not a performance measure, he said.

About 70 per cent of ASP's customers are small and medium investors, who need information for decision-making and are willing to pay for it. The remaining 30 per cent are large customers, including institutional and foreign investors.

This year, ASP's total income is expected to grow 10-15 per cent on the likely expansion of all segments. On the investment banking side, ASP has 25 deals on hand - eight initial public offerings, six mergers and acquisitions, two public offerings and several financial advisory engagements.

The company has received a private fund licence from the Securities and Exchange Commission, so it can expand customers' asset management further besides Wealth Plus.

The company will search for more products to meet investor demand. About 12 issues of derivative warrants are expected this year.

The securities house continued to invest in 21 markets in 17 countries worldwide. It has raised its overseas investment and lowered the weighting for Thai stocks in baht terms by 20-30 percentage points. It also cut its bond portfolio by more than half due to the interest rate uptrend.

"Now, customers pay more attention to overseas investment due to cheaper costs. But only 10 companies provide this service, compared to about 100 investors trading overseas. There is room for expansion," Kongkiat said.

In the short term, the stock market could rise 10-15 per cent from last year, based on the SET Index of 1,000 points, he said. There is a downside risk from rising oil prices. If oil prices stay over US$100 (Bt3,000) a barrel for a sustained period, that may accelerate inflation and dampen the stock market, he added.

########################################################################

Prinsiri eyes Bt5-bn sales

Published on March 11, 2011

Prinsiri plans to launch a dozen residential projects worth Bt10 billion to boost its sales by 12 per cent to Bt5 billion this year.

The developer saw its net profit increase from Bt483 million in 2009 to Bt572 million last year even as its revenue sagged 9.16 per cent from Bt4.91 billion to Bt4.46 billion.

Currently 49.6 per cent of its total revenue comes from condominiums, 29.3 per cent from townhouses and 21.0 per cent from single family homes.

The company has set aside Bt2 billion to purchase 12 parcels of undeveloped land to develop residences next year, chairwoman Siriluck Kowitchindachai told a news conference on Wednesday.

The new developments comprising single family homes, townhouses and condos will be located near to mass transit lines, she said.

Prinsiri's latest marketing campaign with the theme "We Love, We Care, We Share" emphasises "Happiness Brought to You by Detail-Oriented Attention".

This campaign will combine music marketing, digital marketing as well as social networks to promote the company's brand and forge a closer relationship with its targeted customers this year.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
*************************************************************************************




MOVE FOR STABILITY
Egco poised for Bt24-bn investments to keep annual profit above Bt5 billion

Published on March 12, 2011

Development of SPPs, stake in overseas plants planned

Electricity Generating (Egco) will spend Bt24 billion on the development of three small power producer (SPP) plants and on its plan to acquire shares in Indonesian and Philippine plants in a bid to maintain annual profit of at least Bt5 billion.

Moreover, the company will talk with the Electricity Generating Authority of Thailand (Egat) on a possible extension of the lives of its Rayong and Kanom plants, which are due to end operations in the next four to five years.

Egco president Vinit Tangnoi said one SPP with 125-megawatt capacity would be located in Pathum Thani, and was to generate power for Egat in 2015. The other two with the same capacity will be in Ratchaburi, and expected to start generating power after 2015. The three projects will cost Bt15 billion.

It will also spend another Bt3 billion to expand the production capacity of its planned Lop Buri solar plant by 11MW from the current target of 73MW. Construction of the plant, of which it owns 33.3 per cent, will be completed by late this year, when it will generate 8MW for the system in the initial phase.

The company is considering jointly investing in an Indonesia-based coal-fired power plant that has capacity of 1,000MW. It aims to secure at least 20 per cent shares in the plant. The negotiations on the share acquisition are expected to be wrapped up this year.

In addition, it is in talks to buy a 26-per-cent stake in a Philippine coal-fired power plant with capacity of 500MW. The negotiations are expected to be finished this quarter.

The planned share acquisitions in both plants will cost Bt6 billion.

Vinit said the planned investment was to maintain the company's annual profit at no less than Bt5 billion from this year to 2015. Last year Egco made net profit of Bt6.792 billion from production capacity of 4,492MW. Annual profit is expected to grow to Bt6 billion during 2016-21.

Egco will also seek permission from Egat this year to extend the lifespan of its Rayong plant by five years. Next year it will also request Egat's permission to extend the lifespan of its Kanom plant in Nakhon Si Thammarat, due to wind up in 2016.


############################################################################

Merger of PTT power business under study

Published on March 11, 2011

PTT, following the consolidation of its petrochemical and refining units, is proceeding with the consolidation of its power utilities business with "great care", taking into account the impact on its business partners.

Surong Bulakul, president and CEO of Thai Oil, the country's largest refinery under the PTT umbrella, recently said PTT's policy in grouping its subsidiaries responsible for the power business was still under consideration. A clear picture on the consolidation is likely to emerge within this year after PTT Chemical and PTT Aromatics and Refining complete their merger, he added.

A source from PTT said the group's power subsidiaries, which were being studied for consolidation, for instance, were PTT utility, Thaioil Power, and Independent Power (IPT), a subsidiary of Thai Oil responsible for the Independent Power Producer (IPP) project.

PTT is considering whether the consolidation of its power business would create value-added benefit for the whole group. Besides, it has to study whether or not the complex shareholding structure in each company will affect the merger plan, or affect the shareholders.

The source said J-Power, Japan's largest independent power supplier, also held shares in Thaioil Power's IPP business as the company had won the IPP contract from the Electricity Generating Authority of Thailand (Egat) in 2001. So, PTT has to cautiously consider the impact on all shareholders, including J-Power.

The source added that PTT had not reached any decision on the model for merger, whether it would create a new power company or seek other solutions. Whatever the model chosen, PTT wants to have only one power company to be the spearhead in operating its power business overseas.

"The consolidation of the power business is in PTT's 10-year investment plan. So, we will go ahead with the plan," the source said.

Surong last year revealed that PTT would expand its power business overseas more seriously, as it is part of the company's strategic plan to become an oil and gas player in the world. Consolidating all power units will enhance PTT's ability in the power business, reduce costs and redundancies.

PTT recently announced its success in jointly investing in Xayaburi Power Co with Ch Karnchang, Electricity Generating, and PT Construction & Irrigation for the development of the Xayaburi Power Hydroelectricity project in Laos. PTT will have a 25-per-cent stake in the project, which has a registered capital of Bt800 million. The project's requires a total investment of about Bt115 billion.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
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Ultra-fast broadband based on cable technology

Published on March 15, 2011

True Corp has launched an ultra-high-speed broadband service based on advanced cable technology as part of its plan to boost the number of broadband-Internet subscribers to 1.5 million this year.

The goal is for the service also to be a new channel for the provision of TV programmes to TrueVisions subscribers currently using a satellite dish.

True's subsidiary True Universal Convergence has invested Bt5 billion in this broadband network, which currently covers one-third of Bangkok and another six major provinces. It will be expanded to cover 20 provinces overall.

TrueVisions managing director Thiti Nantapatsiri yesterday said the new service is based on DOCSIS (Data Over Cable Service Interface Specifications) technology and could offer a maximum connection speed of 100 megabits per second (Mbps). The service charges a monthly fee of Bt699.

The current average broadband service price in the market is Bt599 per month for a connection speed of 6Mbps.

True's general manager for broadband business, Non Ingkutanond, said the launch of the new service is aimed at almost doubling the company's broadband-Internet subscribers to 1.5 million this year from about 800,000 at present. Current customers each generate average revenue per month of Bt720 to the company.

True is presently the second-largest broadband Internet service provider, with 33.4 per cent of the nationwide market and a 65-per-cent share in Bangkok.

Thiti said the next step was for the channel to be used to provide programmes to TrueVisions subscribers currently using a satellite dish. The broadband network can provide better-quality reception than using a dish, for which users often experience difficulty in receiving programmes when it rains.

TrueVisions has 2.06 million household subscribers, of which 80 per cent receive programme signals via satellite dish.


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Asian Property eyes 25% growth

Published on March 15, 2011

Asian Property Development targets revenue growth of 25 per cent to Bt17 billion this year by focusing on both condominiums and low-rise residential projects.

Forty per cent of income will come from condominiums, another 40 per cent from townhouses and the remainder from detached housing. Last year, 50 per cent of Asian Property's revenue was from condominium projects, 40 per cent from townhouses and 10 per cent from detached housing.

The company recorded revenue of Bt13.8 billion and net profit of Bt2.23 billion for 2010, up 16 per cent and 19 per cent respectively from the previous year.

The company has a backlog worth Bt25 billion of units waiting for transfer to customers, Bt11 billion of which will be booked to revenue this year, chief executive officer Anuphong Assavabhokhin said yesterday.

Meanwhile, Asian Property is launching 20 residential projects worth Bt23.52 billion this year. Thirteen will be townhouse projects worth Bt9.64 billion, six will be condominiums worth Bt12.13 billion, and one a detached-housing project worth Bt1.75 billion.

This is expected to drive presales to Bt20 billion during the year.

Anuphong said that although the loan-to-value limit of 90 per cent for condominiums would have an effect on this year's market, it would not have a major negative impact on the company's ready-for-sale condominium projects because most home-buyers have saved enough to purchase units.

He added that six of the 13 townhouse projects to be launched this year would focus on the middle to economy market by offering homes from Bt1.89 million under the new The Pleno brand.

The first of these projects, worth Bt1.7 billion on Ekachai-Karnjanapisek in Bangkok, has already sold 60 per cent of its overall value.

The company will launch the next two projects this month on Suksawas 30 and Rama V-Pinklao, with the remaining three projects launching in the second half.

The Pleno projects will be built by SQE Construction, which is 100 per cent owned by Asian Property.

Having launched the new brand, the company will have residential projects in all segments of the market from Bt1.5 million to Bt20 million per unit. The launch of 20 projects this year will boost the number of residential projects to 56 worth Bt48.16 billion. They will generate revenue through to 2014.

The company has also set aside Bt5.5 billion this year to purchase land for the development of residential projects next year.

"Now, we are spending Bt1.5 billion on buying undeveloped land in the first quarter of this year, with Bt4 billion to be spent over the next three quarters," he said.

Anuphong said half of the investment budget would come from the company's cash flow, with the remainder from its debenture and bank borrowings.

The company's funding cost currently averages 4 per cent, with its debt-to-equity ratio at 1-1.2:1, depending on the investment per period. The ratio is currently 1:1.

"We have to manage our interest-rate cost range between 4 and 4.5 per cent to keep our business risk [under control] at a time there are signs of interest rates rising this year following the Bank of Thailand policy to keep within the inflation target," he said.

He added that the property market would face a tough period this year from rising oil prices, which will drive up construction costs, and the country's political situation, given the general election in the middle of the year. As a result, he expects the market to expand by only 5 to 10 per cent. Last year's growth was 15 per cent.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
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SCB completes acquisition of insurance arm

Published on March 18, 2011

Siam Commercial Bank (SCB) completes the acquisition of 47.33 per cent stake in Siam Commercial New York Life Insurance in the transaction valued at Bt8.4 billion, in order to strengthen its financial services network.


After the acquisition, its stake in the life insurance company has risen to 94.66 per cent. The additional shares were bought from New York Life International and a Thai affiliate of New York Life Insurance. The other partners own 23.89 per cent and 23.44 per cent in SCNYL, respectively.

SCB said in a statement that it would later tender offer for the remaining 5.34 per cent of SCNYL owned by public shareholders.

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Business

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Water-line extension to serve Map Ta Phut next year

Published on March 18, 2011

Eastern Water Resources Development and Management expects its Bt2.1-billion Line 3 extension from Nong Pla Lai to Map Ta Phut to be operational early next year, boosting its water-pipeline capacity by 105 million cubic metres per year.

The Line 3 expansion is to serve the petrochemical industry in Map Ta Phut, which will require large volumes of water when it resumes operations.

The company has requested tax incentives from the Board of Investment for this project.

"We expect the petrochemical firms will start operation in the second or third quarter this year, so we have to prepare a reserve of water for them. The pipeline extension will allow us to supply our clients for the next 10 years," said Praphant Asava-aree, president and chief executive officer of East Water.

The new Line 3 runs 340 kilometres from Chachoengsao province to Rayong province.

East Water has set up long-term waterworks-management strategies by seeking new water sources and working with private tap-water firms to prevent shortages.

The company targets its reservoir capacity to reach 245 million cubic metres next year. Currently it has three reservoirs with a total capacity of 174 million cubic metres.

The company plans to build additional reservoirs, for which it has purchased 150 rai (24 hectares) of land. This year it will allocate Bt100 million to develop about 90 rai of that land for a reservoir.

Praphant said the company expected its sales volume of raw water this year to increase by 17 per cent to 287 million cubic metres. Tap-water sales are expected to grow by 7-8 per cent.

In terms of revenue, raw water accounts for 68 per cent, tap water contributes 23 per cent and the rest is from rentals and services.

The company will propose a debenture issue worth Bt5 billion at its shareholders meeting next week. If approved, the debenture will help the company lower its interest costs in the wake of higher interest rates of financial houses.

East Water has long-term loans with the Government Saving Bank.

The company has also developed a water footprint for its 50 clients so it can project water consumption, which will help it reserve water supplies.

"We don't want to over-invest because of the uncertainties of water consumption. The water footprint will help us and clients save costs," Praphant said.

In addition, the company and Electricity Generating (Egco) plan to develop a solar farm with capacity of up to 10 megawatts, to be located in Laos, he said.

The output from this plant will be used for the waterworks management of the group, he said.

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Offsetting food shortfall in Japan call for rise in Thai imports

Published on March 19, 2011

The earthquake crisis in Japan has prompted its food companies to demand higher imports from Thailand to offset their production disrupted by the disaster.

In addition, Japanese food manufacturers are looking at shifting some of their investment into Southeast Asia. They aim not only to secure their business but to benefit from tariff privileges of the Asean Free Trade Area.

As Thailand is a major food exporter, it has potential as a production base as well as a springboard to the rest of the region, Vasit Taepaisitphong, chief operating officer of Betagro Group, said yesterday.

As one of the country's top five exporters of chicken prod?ucts, Vasit said there had been many urgent requests from its trading partners to bolster their reserves. The group normally has supplies in reserve.

However, the group has not concluded either prices or volume. Vasit added that his Japanese trading partners had accepted a new price structure, which increased in line with rising raw-material costs by 5-7 per cent since January. This has raised prices by 9-10 per cent since Brazil, another major chicken exporter, also adjusted its export prices.

Since the quake and subsequent tsunami hit the northeast of Japan last week, many food plants have suspended operations, and it is not known when they will be able to resume production. In addition, feed imports for the livestock industry have been disrupted, which will cause production to drop.

Some cold-storage operators have restarted operations, relying on stockpiles maintained for three or four months, although some products were damaged.

"Our trading partners have told us 90 per cent of their workers have returned to the plants after some facilities have been restored," he said.

SWITCH TO OSAKA

To facilitate distribution in Japan, some of the Betagro Group's trading partners have asked the company to change its export destination to Osaka's port, in the country's southwest, instead of Tokyo-Yokohama.

The group's two major partners, Ajinomoto and Itoham, plan to increase their production in Thailand through their joint venture with Betagro.

The group aims to increase its chicken-export volume by 10 per cent to 50,000 tonnes this year. Of the total, export to Japan accounts for 60 per cent. Total sales are targeted at Bt60 billion, of which the domestic market still controls the lion's share of 80 per cent. The group reported total sales of Bt52 billion last year.

Betagro yesterday also opened its newest pork slaughterhouse and processing facility in Phatthalung after investing Bt60 million to renovate an old plant belonging to the local administration. The group will operate the plant under a 20-year concession.

Narongchai Srisantisaeng, senior vice president of the group, said it planned to invest Bt400 million to develop business in the South this year.

As part of the plan, Bt100 million is earmarked for a new pork slaughterhouse and processing plant in Krabi. In addition, a chicken-processing plant and automatic egg-grading facility and packinghouse will be set up in that province. Construction of the processing plant is scheduled to complete in April next year.

"We want to set up distribution centres in every part [of the country] to facilitate Betagro Shops, which is our new business channel to capture more wholesale buyers, particularly food services, restaurants and food shops," Narongchai said.

The group's income from the South is targeted at Bt6 billion, an increase from Bt5.3 billion of last year. Its regional business and feed business generated Bt28 billion of the group's total revenue last year, up by 14 per cent.

In the Northeast, the group's pork slaughterhouse and processing plant in Khon Kaen started operating yesterday. Betagro invested Bt98 million to renovate the old plant with a 25-year concession from local administration.

The group's average total investment is set at Bt3 billion per year.

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TAKEOVER
Bumrungrad takes over a hospital

Published on March 19, 2011

Bumrungrad Hospital Plc, the operator of Thailand's luxury hospital, has bought Bangkok Chain Hospital for Bt3.5 billion.

It bought the 24.99-per-cent stake in Bangkok Chain Hospital at Bt8.5 per share from Land & Houses Plc.

Thai hospitals are in takeover sprees, to strengthen their operations ahead of liberalisation in the hospital sector. Bangkok Dusit Medical Service Plc recently consolidated Phyathai Hospital and Paolo Memorial. It also emerged as a 11 per cent shareholder of Bumrungrad.

Land & Houses senior executive vice president Naporn Soonthorn-chitcharoen said that after the Bt3.5-billion deal, the company would generate net profit before tax of Bt2.7 billion. The move to offload its stake is a part of its policy to reduce investments in non-core businesses.

According to the deal, Land & Houses will hold less than a 1-per-cent stake in Bangkok Chain Hospital. The firm's respresentatives Anand Asavabhokin |and Naporn Soonthorn-chitcharoen tendered their |resignations as directors of Bangkok Chain Hospital with immediate effect.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
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Kiatnakin keeps focus

Published on March 26, 2011

Kiatnakin Bank is upbeat on the outlook of car loans and real-estate financing even though higher oil prices might affect decisions on buying vehicles and increases in interest rates and loan-to-value (LTV) ratios might have an impact on condominium projects.

Tawatchai Sudtikitpisan, president and chief executive officer of Kiatnakin Bank, said the bank had witnessed hire-purchase loans of more than 6 per cent in this first quarter, higher than the target, which showed that people had higher incomes and the hiked interest rates might not affect their financial burden much.At Kiatnakin, the interest rate for hire purchase is 2.35 per cent. Tawatchai added that the rate should be 2.5 per cent by the end of this year.

Moreover, about 80 per cent of the bank's 300,000 clients are in the provinces, where the cost of living is lower than in Bangkok, and the agricultural sector is continuing to grow. As a result, the outlook for Kiatnakin's hire-purchase portfolio is still bright, he said.

The bank foresees outstanding hire-purchase loans in the first quarter increasing to Bt82 billion from Bt80 billion as of the end of last year.

Instalment loans for vehicles are the major Kiatnakin portfolio at 70 per cent while financing real-estate projects account for 15 per cent. The bank this year projects total lending growth of 16-19 per cent and outstanding loans of Bt104 billion.

Tawatchai said that about 80 per cent of its property financing was for low-rise projects, which were less sensitive than condominium projects and affected less by speculation because low-rise purchases are based on real demand. So the increase of the LTV to 90 per cent for condominiums costing less than Bt10 million has not hit the bank's business in this sector. Moreover, when it has financed condominium projects, the bank has focused on condo complexes of no more than eight storeys and with about 70-150 units because such projects are easier to close and can quickly return payment.

Clients that apply for project financing are mainly small and medium-sized enterprises and about 80-90 per cent of those are established developers. Kiatnakin targets new real-estate financing this year at Bt18 billion for 120 projects.

SME property developers have combined annual sales of Bt15 billion.

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CK sees Bt15 bn revenue on start of Laos power plant

Published on March 26, 2011

Ch Karnchang expects its revenue to rise to Bt15 billion this year, mainly from the startup of the Bt110billion hydropower plant in Xayaburi, Laos, which will create an eightyear constructionwork backlog worth Bt76 billion.

The 29year power purchase agreement between the project and Electricity Generating Authority of Thailand is expected to be signed in April or May, as well as a credit facility worth Bt80 billion with four large banks in Thailand, said Prasert Marittanaporn, director and executive vice president for accounting and finance.

CK holds a 30percent share in the 1,280megawatt project, which should commence operations in 2019. Other partners include PTT (25 per cent) and Electricity Generating (12.5 per cent).

"From next year on, our revenue should grow 15-20 per cent per annum," Prasert said.

More revenue should also come with the listing of Southeast Asia Energy, the operator of the 615MW Nam Ngum 2 hydropower plant in Laos, this year.

Yesterday, CK secured Bt4.11 billion in financing from Kasikornbank and Krung Thai Bank for another cogeneration power plant, this one in Ayutthaya under the small powerproducer scheme. The gasfired power plant, with capacity to generate electricity of 110MW and 20 tonnes of steam per hour, will require a total investment of Bt5.48 billion.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
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Banpu to seek cheaper acquisition targets

Published on March 29, 2011

Banpu will continue to look for new acquisition targets after the takeover of a coal mine in Mongolia, but the value of any deals will be lower than those sealed to date.

President Chanin Vongkusolkit yesterday said the company needed to be wary of the potential financial burden imposed by mergers and acquisitions.

Banpu is raising Bt15 billion through debentures with a maturity of 10-15 years to finance its merger and acquisition (M&A) activity.

Last year, it took over Australia's Centennial Coal for about US$2 billion (Bt60.6 billion), while the Mongolian coal mine cost the company $45 million in an acquisition financed by a short-term loan.

The Mongolian mine was recently jointly acquired by its subsidiary Banpu Minerals (Singapore) and a strategic partnership with Hunnu Coal, an Australialisted company.

Banpu expects the project to be operational in the next two to three years, producing coking coal for the steel industry.

Banpu has also divested a 56per cent stake in the Daning mine in China for $669 million. The mine had contributed Bt2.5 million to Bt3 billion annually to the company's net profit.

Chanin said the company had not yet evaluated how much net gain would be reaped from the transaction, or whether it would affect Banpu's 2011 net profit. One certain impact is that the Daning sale requires the company to increase output at its mines in Indonesia and Australia to offset the lost production.

Despite the divestment of Daning, the company is maintaining its projected annual sales volume at 44 million to 45 million tonnes this year.

The chief executive said the recent earthquake and tsunami disaster in Japan had not yet affected the company's business, although Sendai - the country's main port for coal shipments - remains closed.

Banpu is contracted to supply 1 million tonnes per annum to Tokyo Electric Power and another Japanese firm. Chanin said the company was waiting for the clients to notify it which port the coal should now be shipped to.

He added that the disaster in Japan could drive up coal demand, which should then stabilise in the next one to two years.

Despite the radiation crisis in Japan after the quake and tsunami, Chanin said nuclear power was still worth exploring, as it provided energy security. He believes new technology could guarantee higher safety, given that the disaster at the Fukushima plant derived from the use 40 year old technology.

Coal and gasdriven power plants can be quickly constructed to meet power demand, but nuclear power is a good choice in the long term, he said.

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True Corp seeks Bt13.1 bn from new rights offering

Published on March 29, 2011

True Corp aims to raise Bt13.1 billion through a rights offering of 6,727,436,752 new ordinary shares, the amount remaining from its first rights offering, to finance the further development of its thirdgeneration wireless broadband business and pay down its huge debt.

Chief executive officer Supachai Chearavanont said the company had yet to finalise the proportion of the proceeds to be spent on developing the 3G service and on the debt repayment.

True is 64 per cent owned by Charoen Pokphand group.

The recapitalisation plan follows a resolution at the extraordinary general meeting of the shareholders on December 19, 2008, which approved its rights offering by offering a total of 10 billion shares at a selling price of Bt1.95 per share. The subion period for the first tranche ran from February 26, 2009, and shareholders subscribed to some 3.272 billion shares, about onethird of the total, raising about Bt6.38 billion.

The True board on March 25 last Friday passed a resolution approving allotment of 6,727,436,752 new ordinary shares remaining from the first rights offering for the existing shareholders in proportion to their respective shareholdings at the price of Bt1.95 per share and with a subion ratio of 1 existing share for 0.865 new ordinary share.

Shareholders are required to register on April 11 for these new shares (the record date). The subion period runs from May 30 to June 3.

True's share price yesterday closed at B5.70, down 6.56 per cent.

Once True filed to the Stock Exchange of Thailand yesterday on the rights offering, its share price dipped on concern over the sharedilution effect. But Supachai believes the move is positive for the company and shareholders, as True would emerge financially stronger. Its move into the 3GHSPA (highspeed packet access) service with CAT Telecom will also bring positive financial result to the company, he said.

"We are confident that with this recapitalisation True will emerge as a much stronger company in terms of its financial position and business expansion. This will benefit shareholders and customers alike, so we expect to receive strong support from our shareholders," Supachai said.

He added that he could not tell whether the shareholders would fully subscribe to the new shares but representatives of shareholders on the company's board showed support for the move.

Supachai said True might recapitalise again, and next time could be either via a private placement or selling shares to a potential strategic partner.

True group has paid down about Bt5.7 billion on the principal of its loan annually but also faces interest payments of Bt5 billion to Bt6 billion per year. TrueMove has debt of about US$690 million (Bt20.9 billion).

True Corp chief financial officer Noppadol DejUdom said the True group this year expected to make revenue of Bt70 billion, of which Bt4 billion would be contributed by HutchisonCAT Wireless Multimedia.

True recently completed the takeover of Hutchison Telecom businesses in Thailand, including HutchCAT, which has about 800,000 customers, making the latter its new revenue source.

True will spend Bt8 billion to Bt9 billion on its cellular business this year, of which Bt3 billion to Bt4 billion is for the 3GHSPA cellular broadband business under the CAT partnership and Bt5 billion for expanding TrueMove's conventional mobile phone network by 1,200 sites.

True's subsidiary Real Move will start marketing its TrueMove H 3GHSPA retail service this month under the CATTrue deal before going full steam in the third quarter.

Development of the 3G service includes installing 4,500 HSPA base stations over three years. The first phase this year is expected to cost Bt3 billion to Bt4 billion for installing 2,000 bases.

Siam Commercial Bank has granted a loan of Bt15 billion to the group to develop the 3G service, of which Bt6.3 billion is earmarked for BFKT (Thailand), which True took over from Hutch, to repay its debt.

Noppadol said that though True still had money left from the SCB loan to be spent on the 3G business, it opted to raise funds via the rights offering to avoid adding debt to the company.


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PTT Group plans downstream consolidation towards end of year

Published on March 29, 2011

PTT Group will further consolidate its downstream petrochemical businesses later this year after completing the merger of its upstream units, CEO Prasert Bunsumpun said yesterday.

He said the merger of PTT Aromatics and Refining and PTT Chemical should be finalised just before he completes his term as chief executive in September. A new upstream petrochemicals unit will then be listed on the Stock Exchange of Thailand.

Afterwards, PTT Group will go ahead with consolidation of its downstream businesses, namely the merger of HMC Polymers and PTT Phenol.

HMC Polymers, which produces polypropylene, is 41.44 per cent owned by PTT. PTT Phenol, which is 40 per cent owned by the company, produces and distributes phenol and acetone.

A new company will be set up as part of the consolidation process so that PTT Group can further boost its efficiency and competitiveness in the downstream sector.

PTT's downstream units have combined annual sales of Bt1.3 trillion, accounting for 13 per cent of the country's gross domestic product and creating jobs for more than 1.3 million people.

Pratya Pinyawat, chief operating officer of the downstream business, said mergers would increase economies of scale and help lower costs.

PTT Group aims to further expand its downstream businesses in order to be a key regional player, and not just a local operator, he said.

Sukrit Surabotsopon, another top executive of PTT Group, said the firm is conducting a feasibility study into investment in a joint venture with Mitsubishi Chemical, which hold patents on bioplastics production knowhow.

Ownership of the joint venture would be split equally between Mitsubishi and PTT, with the factory being set up on a 1,500rai site at an industrial estate in Map Ta Phut, in Rayong province.

Other biobased production plants would be set up within the same downstream industrial complex, said Sukrit.

Biobased products are regarded as more friendly to the environment.

The group's top executives yesterday attended the opening of "PTT Group Downstream Expo 2011", which runs until Friday and highlights the concept of "Power of Infinite Synergy".

In addition, PTT is unveiling "Group Integrated Supply Chain Management & Optimisation (GISMO)", which aims to highlight the linkage of its various business strategies.

The group has adopted six strategies, covering oil and petrochemical supplychain management, logistics optimisation, a group logistics master plan, and Indochina and group trading.

Surong Bulkul, chief executive officer of Thai Oil, said the company is interested in buying shares in Esso Thailand's refinery, as well as joining with IRPC to develop lube base oil.


#############################################################################################################


South floods may hike TUF shrimp prices

Published on March 29, 2011

Thai Union Frozen Products Plc is considering price hikes due to the floods in the lower South, the source of 60 per cent of its shrimp supplies.




CEO Thirapong Chansiri said yesterday that natural disasters would drive up seafood prices this year. Shrimp prices went up 30 per cent last year and could rise further. While pricing could cope with the higher cost, what concerns him is the availability of stocks.

TUF is seeing higher sales of tuna, salmon and sardines to Japan, which consumes 12 per cent of its exports.

[ThaiClaus]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
*************************************************************************************

AUTO PARTS
BAT-3K sees demand lifting growth 10%

* Published: 1/04/2011 at 12:00 AM
* Newspaper section: Business

Thailand's largest battery producer, Thai Storage Battery Plc (BAT-3K) targets a 10% growth in revenue this year in line with the expansion of domestic consumption as a healthy economy drives demand.

Director Veerawan Korphaibool said the company's volume growth was outpacing that of the economy and consumption. "If sales grow in line with projections, our gross profit margin will likely be maintained at 18%," she said.

Another director, Veerawat Korphaibool, said the company planned to spend 90 million baht to promote its new 3K V-Series, a lead sealed acid battery or dry battery, which appeals to drivers who prefer low-maintenance batteries.

Last year its 3K V-Series accounted for 20% of the company's revenue and the proportion is expected to double this year.

Executives said first-quarter results would be better than in the same period last year because of good market response to the 3K V-Series since its launch in the fourth quarter last year.

BAT-3K reported total revenue last year of 5.33 billion baht compared 3.96 billion a year earlier. However, net profit slipped to 204.01 million baht from 302.80 million due to higher raw material costs.

Tin prices now average US$2,600 to $2,700 a tonne, up from $2,300 earlier last year.

Mr Veerawat said the disasters in Japan would also lift battery orders for electricity generation since the country is experiencing power shortages.

He forecast the company's export sales would reach 55% of total revenue this year, from 50% last year. Margins on exports are higher than for local sales.

Shares of BAT-3K closed yesterday on the SET at 61.50 baht, unchanged, in trade worth 910,000 baht.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
*************************************************************************************




Drillers strike it rich off Thailand

Published on April 2, 2011

Three concession holders for petroleum exploration have found oil in their concession fields in the Gulf of Thailand.

Pearl Oil found petroleum in G6/50 field; Chevron (Thailand) discovered it in G7/50; and PTT Exploration and Production (PTTEP) made its find in the G8/50 field.

They were granted the concessions in the 20th round of concession granting by the Department of Mineral Fuels.

The department's directorgeneral, Songpob Polchan, said concession holders should promote good understanding with communities in their areas.

As part of this effort, the department, together with PTTEP, Chevron, Pearl Oil, Salamander Energy and CEC International, yesterday each donated Bt200,000 to purฌchase relief packages for floodhit people in Chumphon, Nakhon Si Thammarat and Surat Thani.

Last year the department distributed a manual of guidelines for holding public hearings to all concession holders.

In related news, Chevron's Pla Thong 2 gas field in the Gulf of Thailand will start generating 330 million cubic feet per day by the end of this year, while PTTEP's Bongkot South field will be producing 320 million cubic feet per day by late next year.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
*************************************************************************************


INTERVIEW
Property market likely to 'correct' robust growth, expert warns

Published on April 7, 2011

Thailand's fast-growing property market runs a risk of facing a slowdown after its robust growth last year, according to a real-estate expert.




"Look at the Thai [property] market. Whenever you see completions go a hundred thousand a year, you start to see probably a slowdown now. Things may change. I'm cautious. It might be time for correction," said Brett Gordon, founder of Panna Capital, who is based in Hong Kong. "Would I buy a condo in Phaholyothin [area] today Probably not."

With Thailand's economy growing at a fast pace, and high consumer confidence, the transfer of property rights in Bangkok and its vicinity increased to 178,128 units in 2010 from 161,240 a year earlier, according to the Bank of Thailand's Economic Conditions Report in January. The increase is in line with the number of residential units completed and registered in those areas, which increased to 105,152 units in 2010 from 94,977 previously.

However, small listed retail property companies in Thailand remain attractive to Panna Capital, which focuses on the listed real-estate sector in the Asia-Pacific region.

"What interests me in Thailand at the moment is the retail sector. There are small listed retails. The dominance of the large listed retails in Thailand [has reached] its maximum," said Gordon, who spent the past 17 years in the Asian real-estate sector.

In response to a question about the impact of the central bank's decision to raise the loan-to-value (LTV) ratio, which took effect at the beginning of the year, Gordon called it a sensible move by the monetary authority.

For condominium units costing less than Bt10 million, the LTV is capped at 90 per cent, which means a loan cannot be more than 90 per cent of the unit cost. For low-rise properties, the cap will be 95 per cent. It will be applied to purchase contracts dated January 1, 2012, onwards and will not be retroactive.

"From the fundamental point of view, they are going to make sure there is equitable distribution to the property market," Gordon said.

The BOT is now less concerned about a bubble in the condominium market, because of a reduction in oversupply and a slowdown in demand. Gordon agreed: "I would say the listed real-estate market discounts most of those concerns even in the worst case."

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
*************************************************************************************



FIRST-QUARTER EARNINGS
Banks expected to post 40% profit rise

Published on April 12, 2011

The banking sector is expected to post a combined net profit of more than Bt35 billion for the first quarter, up 40 per cent from the same period last year thanks mainly to huge demand for term and auto loans, according to stock analysts.

The impressive performance has convinced analysts that the industry's annual earnings will be at least Bt118 billion, representing 19.5-per-cent growth from last year.

An analyst at Ayudhaya Securities yesterday said earnings of Bt118 billion were expected on the back of strong economic growth, which has been supported by investment by the private sector and through the government's Thai Khem Khaeng programme.

Loan demand, especially corporate and SME (small and medium-sized enterprise) lending, will therefore be a key profit driver for banks. Auto hire-purchase is also a positive factor supporting earnings, especially in the eco-car segment, the analyst said.

Based on a recent meeting with executives from Kasikornbank, Ayudhya Securities said many businesses were seeking long-term loans for investment in power plants, energy, infrastructure and transportation.

The bank sees greater manpower utilisation in some industries, but they are sectors such as electronics and food that rely heavily on exports, and which might therefore be affected by tighter economic controls in China and the aftermath of last month's earthquake and tsunami in Japan, said the securities house.

Kasikornbank cannot yet be sure that the Thai economy has entered a real investment cycle, it added. This is reflected in targeted growth of 4-6 per cent for corporate loans this year, which is lower than the projected growth of SME loans at 8-10 per cent and of retail lending at 12-15 per cent.

DBS Vickers (Thailand) Securities predicts the annual earnings of the banking sector will grow by 21 per cent from Bt99.4 billion last year, after seeing a bright outlook in the first quarter.

The brokerage house projects earnings growth based on the assumption of annual loan growth of 10.7 per cent.

An analyst at Phillip Securities said loan growth in the first quarter looked to have come in higher than expected, with 2.7-per-cent expansion in the first two months of the year against just 0.4 per cent in the same period last year.

Term loans are a key factor driving overall lending growth due to the investment cycle, with corporate firms seeking more term loans for businesses expansion, especially for increases in production capacity.

Auto loans are another positive factor driving lending in the first quarter, leading to earnings of the banking sector being higher than in the same quarter last year, said the Phillip Securities analyst.

The analyst added that Bangkok Bank might revise upward its loan-growth target for this year after seeing a greater volume of both term and capital loans. The bank currently projects loan growth at 6-8 per cent.

Asia Plus Securities said in research that nine banks would report a combined net profit of Bt35.6 billion for the first quarter, the best three-month performance in the past few years, due to 4.7-per-cent growth quarter on quarter in net lending.

Lending growth has been supported by all sectors, especially corporate loans, SME loans and auto hire-purchase. The growth of these sectors was higher than the brokerage expects for the full year, at 10.4 per cent.

Corporate and SME loans are the two main segments driving earnings growth, while the average net interest margin is expected to improve by 5 basis points and fee income by 13 per cent year on year, according to DBS Vickers.

An analyst at Finansia Syrus Securities said Siam Commercial Bank is expected to record quarterly net earnings of Bt11.4 billion, the highest among local banks due mainly to the full earnings consolidation of life-assurance company Siam Commercial New York Life Insurance.

SCB last month upped its holding in the insurer from 47.33 per cent to 94.66 per cent.

Finansia Syrus has revised upward its forecast for SCB's earnings this year by 18 per cent to Bt34 billion, representing a 41-per-cent rise year on year and reflecting the bank's lending growth in the first quarter.

Asia Plus has a further positive view on the lending and performance of the banking sector in the current quarter, citing that even though the first half of the year is the normal low season for loans, this will not be the case this year due to the investment cycle. Demand for corporate loans continues, thanks to government and private-sector projects, it said.

Furthermore, investment expansion overseas will support significant growth in corporate lending, including SME loans, which are increasing in line with overall business loans.

Kiatnakin Securities is overweight on the outlook for the banking sector. It estimates the industry will report a combined net profit of Bt34.32 billion for the first quarter, up 39.1 per cent year on year due mainly to lending expansion and the increase in interest rates.

The sector is expected to start reporting its first-quarter financial performance next Monday.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
*************************************************************************************


Higher prices and sales to boost PTTEP's earnings

Published on April 20, 2011

PTT Exploration and Production (PTTEP) expects its net profit for the first quarter of this year to be higher than Bt10.4 billion during the same period last year, due to higher sales volume and oil prices.

President and CEO Anon Sirisaengtaksin yesterday said the company's sales volume of oil and gas in the first quarter of this year increased to around 270,000 barrels of oil equivalent per day (BOE/D), compared to 257,000 BOE/D in the same period last year.

The increased sales volume came from the company's latest oil and gas exploration and production - Kai Kos Dehseh Oil Sands project (KKD) - in Canada, which started production in the first quarter of this year. In addition, the company's production facility in the Malaysia-Thailand Joint Development Area (MTJDA) is running at full capacity.

PTTEP is in partnership with Canada's Statoil in the KKD project after investing US$2.280 (Bt 68.400 billion) to acquire a 40-per-cent stake.

The Thai giant has operated the MTJDA project since last year, and the production volume has been gradually increased.

Anon said the soaring global oil price was another factor behind PTTEP's growth in profits in the first quarter. The company had earlier expected an average price of $80 per barrel this year. Now, the market price has stayed above $100.

"Although the high oil price is a favourable factor for companies in the exploration and production [E&P] business like PTTEP, it is not sustainable. The oil prices have soared because of the fear of supply shortage due to the unrest in many oil-producing countries. If the prices increase due to higher demand, the E&P business will be more stable and sustainable," he said.

He said production in KKD would increase to 8,000 BOE/D by the end of this year and to 150,000 BOE/D within 2020.

Ayudhya Securities said in its research that the unrest in many Middle East countries and North Africa, as well as the increased oil demand from Japan during the recovery period, would boost the global oil prices to stay in the high level. It has revised the targeted net profit of PTTEP upward by 19.8 per cent from the previous estimate to Bt50.027 billion and by 13.7 per cent from the previous estimate to Bt64.743 billion for 2012.

The broker also forecast that PTTEP's net profit in the first quarter of this year will grow by 11.6 per cent quarter on quarter and 7.8 per cent year on year to Bt11.292 billion. It estimated sales volume at 272,000 BOE/D in the first quarter. The net profit forecast for the first quarter should be the lowest level this year as oil prices are likely to increase continuously. Besides, the company's production volume will increase in the second half of this year once production commences in its Vietnam 16-1 project.

Kim Eng Securities (Thailand) forecast that PTTEP would report net profit of Bt12.141 billion in the first quarter due to the increased price of petroleum, which grew by 19 per cent from the same quarter last year, and the higher sales volume, up 6 per cent year on year in line with the increased demand for gas.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
*************************************************************************************





PETROCHEM MERGER
Two PTT units get together

Published on April 22, 2011

Shareholders of PTT Chemical (PTTCH) and PTT Aromatics and Refining (PTTAR) have approved a merger between the two PTT subsidiaries, to create the third-biggest petrochemical firm in Southeast Asia, behind Petronas Chemical and Siam Cement Group (SCG), in terms of enterprise value.




About 99 per cent of PTTAR's shareholders agreed to the merger, while 96 per cent of PTTCH shareholders gave it a nod.

PTTCH president and chief executive Veerasak Kositpaisal said the business growth of the newly merged company was still being evaluated, as prices for olefins products were expected to bottom out starting from next year, while prices for paraxylene products had been good since the final quarter of last year.

Parent company PTT has targeted revenue of Bt400 billion for the merged company this year, although the target was set before the global oil price skyrocketed. It is now steady at about US$120 per barrel.

Both companies are working on the merger process, which is already about 80 per cent complete. Shares of the new company are expected to be traded on the Thai stock market in August.

Veerasak said PTTCH's revenue in the first quarter of this year should be higher than that in the first quarter of 2010, thanks to increased production volume and higher product prices.

PTTAR president and chief executive Bowon Vongsinudom said the merged company would have the opportunity for synergies in manufacturing new petrochemical products such as acrylonitrile butadiene styrene (ABS), polycarbonate and propylene oxide, which can be used in the automotive industry.

It is expected that the earnings of the merged company from synergies in the existing business of both companies - before interest, tax, depreciation and amortisation - will range between $80 million (Bt2.39 billion) and $154 million per annum, depending on world oil and petrochemical prices.

The minimum scenario of $80 million is based on the assumption of a Dubai crude oil price of $62 per barrel, while the maximum is based on a Dubai crude price of $130 per barrel. Therefore, the new company seems likely to benefit by nearly $154 million per year from the synergy, thanks to the current high oil price.

"It would have been difficult to achieve such a benefit if we had not been able to merge with PTTCH because each company had the priority of benefiting its shareholders. So the synergy may not have taken place," he said.

Fewer risks

Bowon said the merger would also reduce risks from fluctuations in world petrochemical prices, as the upturn and downturn periods of olefins and aromatics products were different. Prices for aromatics products are expected to be good over the next one or two years, while prices for olefins products will be good two to three years hence.

Bowon said PTTAR's profit in the first quarter of this year was likely to be higher than that in both the previous quarter and the corresponding quarter of 2010, thanks to higher petrochemical prices - such as those for paraxylene and benzene - and increased demand for petrochemical products, particularly from emerging markets.

Paraxylene spread, for example, was about $700 per tonne in the first quarter of this year, compared with $400 in the final quarter of last year and $550 a year ago.

He said paraxylene plants in Japan - the world's largest exporter of such petrochemical products, with a volume of 2 million tonnes per year - had to delay plans to start new production. At the same time, demand, particularly from the emerging markets, is continuously increasing, so prices remain high.

[schmithi]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
*************************************************************************************

EXCLUSIVE
PTT must produce more oil and gas: analysts

Published on April 25, 2011

PTT's profitability could be hit after 2012 if the company cannot increase production capacity of oil and gas, analysts say. If capacity remains unchanged, profits will not rise.




Beating other multinational firms that are expanding aggressively overseas is a big challenge for PTT, said Naphat Chantaraserekul, assistant vice president at DBS Vickers Securities (Thailand), at a special briefing to Nation Group reporters on PTT's business outlook.

"It must do so, as gas and exploration contribute 80 per cent of PTT's net profit," he said. The remaining 20 per cent of profits come from refining and petrochemical businesses.

Naphat admitted that PTT Exploration and Production's overseas expansion could face some challenges with increased competition, let alone the uncertainty of finding gas in exploration fields.

PTT plans to invest 40 per cent of its Bt330 billion budget during 2011-2015 for offshore investment.

At the same briefing, Chaipat Thanawattano, senior vice president of SCB Securities, said PTT would have to diversify into the coal business to satisfy growing energy demand in the power-generation sector. However, PTT is much less familiar with the business than rival Thai energy company Banpu.

Revenue ratio from coal is less than 5 per cent now and it could take more than five years to raise it above 5 per cent, Chaipat said.

Meanwhile, PTT's profitability is also threatened by government policy. At present, the retail price of NGV is being controlled. The analysts did not foresee a reversal in the near term. PTT currently sells NGV at Bt8.50 per kilogram, while the cost is about Bt14-Bt15 per kilogram.

Naphat said PTT lost the opportunity to make profits of almost Bt30 billion due to the government policy of capping the retail prices of NGV and LPG.

SCB Securities expects PTT to post Bt95 billion net profit in 2011 while DBS expects Bt85-Bt90 billion. Both analysts are upbeat on the outlook for the refining sector this year thanks to the increasing oil price bringing a high gross refining margin (GRM).

At SCB Securities, the crude oil price this year is expected at between US$100-105 (Bt2,996 - Bt3,144) per barrel, while DBS Vickers expects it at US$105.

Naphat said GRM this year was expected at US$8 per barrel, while Chaipat expected US$6 per barrel.

The analysts, however, said the outlook for the refining sector should be projected only in the short term because inventory loss was a risk factor of this business.

If the oil price is still high through next year, profits of PTT next year might reach Bt100 billion, a new record after the previous high of Bt97.8 billion in 2007, said Naphat.

In addition, the analysts voiced support for the merger of two subsidiaries of PTT, PTT Chemical (PTTCH) and PTT Aromatics and Refining (PTTAR), which would add value to PTT stock.

Further mergers of subsidiaries in PTT Group might not be seen after PTTCH and PTTAR, the analysts said.

[ThaiClaus]

post 100 Real estate
post 101 THAI
post 102 BANPU
post 103 KBANK, PTTEP, Property market
post 104 TIPCO
post 105 Tourism
post 106 BANPU, TUF
post 107 CPF
post 109 IVL
post 110 Thailand Ausblick 2011, TUF
post 111 PTT, BBL, AIS
post 112 BANPU, Wirtschaftsdaten Nov., TRUE
post 113 LH
post 114 Banking, HANA, Cement and Steel
post 115 TISCO
post 116 TRUE, LPN, PHATRA, IVL, SSI
post 117 Banken, PTTEP
post 118 AIS, Immobiliensektor
post 119 BANPU, PTTCH, Thailand BIP Prognose 2011
post 120 SCC, LH, CPF
post 121 SCNYL
post 122 TTW
post 123 TVO
post 124 IVL
post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL

*************************************************************************************

Non-bank sales buoy SCNYL
Published: 28/04/2011 at 12:00 AM
Newspaper section: Business

Siam Commercial New York Life Insurance Plc (SCNYL) reported healthy growth in the first quarter of this year thanks to growing contributions from its expanding non-bank sales channel.

According to newly appointed managing director Bundit Jiamanukoonkit, first-year premiums topped 2.96 billion baht in the first quarter, a rise of 30% over the same period last year.

Bancassurance continued to dominate new sales, generating premiums worth 2.40 billion baht, up 26% year-on-year. Agency distribution rose 44% to 327 million baht while the group comprising worksite marketing, telesales, credit life and group life rose 46% to 237 million baht.

New sales of group life policies alone jumped by 165% to 135 million baht.

Total premiums for the quarter rose 21.88% to 7.57 billion baht, with renewal premiums increasing 21.36% to 5.08 billion baht.

"Our effort to aggressively expand sales in non-bank channels was on track and yielded impressive double-digit growth, while our bancassurance channel also delivered the strong sales results and helped retain our leadership in this channel," said Mr Bundit.

"We are bullish on business prospects in the second quarter. We see tremendous opportunity to expand sales and penetrate new customer bases through new channels, particularly business partners in non-bank channels."

Recently, SCNYL signed a memorandum of understanding with Tesco Life Assurance Broker and has exclusive partner rights to offer financial products and sell life policies to retail consumers and at all Tesco Lotus stores across the country.

The company has also signed agreements with the Savings Credit Co-Operative of Electricity Generating Authority of Thailand (Egat) to provide group life protection and personal accident coverage for 40,000 members living across the country for three years, with total coverage worth 600 million baht. The protection coverage is scheduled to start on June 1.

The two projects are part of SCNYL's strategic growth strategy to increase non-bank sales. It says that it also plans to explore business opportunities with new partners.

In mid-April, the company began a pilot project to sell life policies at five Tesco Lotus stores, which has drawn a satisfactory response from retail consumers.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF

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CPF eyes India, Vietnam, Russia and Philippines
By Achara Pongvutitham
The Nation
Published on May 3, 2011


Charoen Pokphand Foods (CPF) has identified India, Vietnam, Russia and the Philippines as its top priority markets for expansion in a five-year business plan.

They have been selected for factors such as potential growth in population, variety of consumption, low numbers of competitors and lack of farm technology.

"We plan to access the market where we believe we can win," said Adirek Sripratak, president and chief executive officer of the company.

The company's investment budget this year will be Bt8 billion to Bt10 billion. Of that, 60 per cent will be spent overseas, with heavy investment in the four countries mentioned. The aim is to increase overseas sales from 26 per cent to 40 per cent by 2015.

Adirek said CPF's investment policy abroad focused on markets where consumers bought a variety of meats, with high growth, low numbers of competitors and a lack of farm technology.

For instance, India has great business opportunities, with a population of 1 billion and growing purchasing power due to its expanding economy.

The company's business plan will focus on expanding feed mills, livestock and aquatic products, layer breeders, broiler breeders and hatcheries for both hens and shrimp.

About 150 Thai staff are stationed in India, and the number will be increased in the near future. The company also foresees business opportunities in 10 more cities there.

In Vietnam, the company is expanding with many businesses including pig, chicken, fish and shrimp farms, feed mills and shrimp hatcheries.

The business in Russia focuses on pig farms, with the first two of 10 planned farms already running. The company also plans more investment in feed mills to serve the pig farms.

The Philippines is a high-consumption market, where people consume a variety of meats including beef, pork, chicken, fish, shrimp and others. Moreover, the population growth rate is quite high, at 2 per cent, which is the key factor behind rising consumption.

There, the company operates pig farms, chicken farms, fish farms and shrimp hatcheries.

"We don't want to access the US market as its technologies are very advanced, while the EU market is very full with competitors now. That is the reason we are focusing on markets with high consumption, a lack of technology and where we foresee business opportunity," said Adirek.

The company reported that sales from overseas investments in its main markets reached Bt16.44 billion in Taiwan, Bt15.76 billion in Turkey, Bt6.83 billion in India, Bt5.42 billion in Malaysia and a combined Bt5.19 billion in Russia, Laos, the Philippines and China.

CPF also sees business growth over the next 10 years boosted by accessing the African market. Tanzania and Kenya have great business opportunities now. Chicken farms and feed mills are expected to start operating with the next six to 12 months.

Adirek added that the company has also invested US$10 million (Bt299 million) in South Africa to set up a chicken farm.

CPF employs 60,000 employees, of which 20,000 work abroad.

An analyst at DBS Vickers Securities (Thailand) said in a recent report that the company expected meat prices to remain strong through the third quarter this year.

It also expects CPF earnings to surge 66 per cent in the first quarter this year (quarter on quarter) and 6 per cent year on year to Bt3.4 billion. This has been driven by higher meat product prices amid short supply and strong demand.

In the first quarter this year, average broiler prices surged 22 per cent quarter on quarter and 8 per cent year on year to Bt48 per kilogram. Swine prices edged up 10 per cent quarter on quarter and were flat year on year at Bt59/kg.

On the other hand, raw materials prices rose at a slower pace, helped by advance purchases and locked-in, lower prices, the outstanding aquatic business and expanding overseas business.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU

*************************************************************************************


Coal Banpu to hike output from Australia
By Nalin Viboonchart
The Nation
Published on May 14, 2011


Banpu, Thailand's largest coal miner, has allocated an investment budget of 589 million Australian dollars (Bt19 billion) for 2011-15 to increase Centennial Coal's production capacity to 19.6 million tonnes from this year's level of about 16 million tonnes.

Chief financial officer Somruedee Chaimongkol said yesterday that the investment budget for Centennial in Australia would be added up to the company's current 2011-15 budget of US$230 million (Bt6.95 billion).

Centennial Coal currently operates 10 mines in the country, with expected capacity this year of 6 million tonnes in Western Australia and about 9 million tonnes in the north. Banpu plans to develop another four mines in Australia between now and 2015.

The investment budget of A$589 million will be used to purchase and implement new technology - a flexible conveyor train system - to proฌduce coal and to develop four new mines. Three of these are Neubeck's Creek, Newstan Lochiel, and Mandalong, all in New South Wales.

Somruedee said Banpu recently concluded business strategies for Centennial after it acquired a 100percent stake in the Australian coalmining company. Banpu will graduฌally adjust the company's longterm contracts to shorter ones to benefit from spot coal prices. Moreover, it will raise the export proportion from the current of 35 per cent to about 50 per cent by 2015 to benefit from higher selling prices than those in the domestic market. Currently, coal mines in which Centennial holds stakes have resources of 2 billion tonnes, with proven coal reserves of about 400 milฌlion tonnes. Banpu will explore the resource every year or two so that it can increase proven reserves.

Somruedee said Banpu expected the average coal price this year to be not less than US$90 per tonne, up from $75 in 2010. Its average selling price in the first quarter of this year was $87 per tonne, while that of the second quarter is so far nearly $90 per tonne. About 62 per cent of the comฌpany's sale contracts have been fixed at a price of $80 per tonne. Another 25 per cent of the contracts will base the selling price on the current spot price, and about 14 per cent are not yet priced.

The company targets production of 42 million tonnes this year, of which 25 million tonnes will come from mines in Indonesia, 16 million from Australia and about 1 million from China.

The company produced 5.4 million tonnes of coal in Indonesia in the first quarter of this year, and expects the volume to increase to 6.2 million tonnes in the current second quarter. Centennial in the first quarter of this year produced 3.7 million tonnes of coal, and it aims to produce about 3.7 million to 4 million tonnes in the current quarter.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR

*************************************************************************************
PTTAR raises revenue growth forecast to 30%
By Nalin Viboonchart
The Nation
Published on May 21, 2011


PTT Aromatics and Refining (PTTAR) has revised its revenuegrowth forecast upwards to 30 per cent from the previous prediction of 10 per cent thanks mainly to the high global oil price, which will have a positive effect on the aroฌmaticproducts industry.

The company generated revenue of Bt277.311 billion in 2010 and recorded net profit of Bt6.342 billion.

Duangkamol Settanung, executive vice president for finance and accounting, yesterday said the average global oil price last year was US$70 (Bt2,100) per barrel, while the current price is roughly $100 per barrel, more than 40 per cent higher than last year.

Hence the company's revenue and net profit this year are likely to grow by 30 per cent in line with the oil price.

President and chief executive officer Bowon Vongsinudom said the high oil price had resulted in increased spread in the refinery business.

In additio n, the high global demand for aromatic products, both paraxylene and benzene, while there is no new supply from two aromatic plants in Japan has pushed up prices.

Output of purified terephthalic acid (PTA) will increase by 12 million tonnes in the third quarter of this year. PTA pro?duction needs paraxylene as feedstock. Meanwhile, a new supply of paraxylene will come on stream from two manufacturers - South Korea's SOil and China's Urumqi Petrochemical - in the second quarter, which is not enough to feed the PTA plant.

He said that although the price of paraxylene was declining in the second quarter, it was expected to swing back in the third quarter and remain above $1,500 (Bt45,500) per tonne.

Benzene will stay above $1,200 per tonne as well because of high demand to feed styrenemonomer plants. There is also demand for benzene derivatives used to produce automotive parts. A new supply of benzene will come from SOil and Urumqi Petrochemical, as with paraxylene.

Bowon said the company expected its revenue in the second quarter of this year to be higher than in the first quarter because of high refinery volume. It will resume operation of the AR1 refinery, which was revamped during the whole first quarter.

The company can increase paraxylene production output by 4,000 tonnes per month or 50,000 tonnes per year.

"Our operating result in the secฌond half of this year is expected to be better than in the first quarter because of the high price of aroฌmatic products. This will be a good year for PTTAR," he said.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property

*************************************************************************************
Property market expected to decline
By SOMLUCK SRIMALEE
THE NATION
Published on May 25, 2011


Despite the government's zero-interest mortgage scheme, the property market is likely to drop by 10-15 per cent this year, experts agreed yesterday.

The Real Estate Information Centre (REIC) held a seminar |titled "Property Market Outlook in 2011" in Bangkok to look at expected trends in the business throughout this year.

Issara Boonyoung, president of the Business Housing Association, said that without the government's soft-mortgage scheme, the market would drop by about 20 per cent compared with last year.

The Bt25-billion loan programme offers consumers zero interest for the first two years of a mortgage on first-time, low-priced homes. The programme started in the current second quarter of the year.

However, demand this year is focused on low-rise housing such as detached houses, duplexes and townhouses. There is a lower supply of these types of housing than condominiums, which were popular last year.

It is forecast that new transfers of residential projects nationwide will number between 140,000 and 150,000 units this year, compared with more than 200,000 units of last year, Issara said.

Metha Angwatanapanich, Sansiri's executive vice president for business development, said the company estimated demand for homes in Greater Bangkok would reach about 94,094 units, while the market is expected to supply 151,108 units.

However, demand is lower than last year because of many negative factors such as rising interest rates, high inflation, skyrocketing oil prices and increasing construction costs. These have led consumers to delay their decisions on whether to purchase a home since the first quarter.

POORER RESULTS

Terdsak Thaweethiratham, a senior vice-president of Asia Plus Securities, said 14 listed property companies, which control about 60 per cent of the Greater Bangkok market worth more than Bt200 billion annually, reported poorer results in the first quarter. Their combined revenue dropped by 36.5 per cent to Bt29.25 billion, while the net profit margin dropped from an average of 15.1 per cent to 13.7 per cent in the quarter. ??From Q1 last year or from Q4??? They recorded net profit of only Bt3.8 billion, down from Bt7.6 billion in the fourth quarter of last year.

The impact of the government's soft-mortgage programme in the current second quarter will not boost the market's full-year performance, he said.

However, he said the backlog - projects already sold but awaiting transfer to customers - now was Bt148 billion, which would generate about 80 per cent of total revenue this year. This would result in revenue dropping only slightly when compared with last year.

REIC director-general Samma Kitsin said 49 projects with 20,116 units worth more than Bt50 billion had been launched in Greater Bangkok in the first four months of this year. This launch rate is about 10 per cent lower than in the same period last year.

Meanwhile, the supply in Bangkok and its suburbs now totals 459,240 units, which would take about three years to absorb without any new projects launched this year. This means the market faces an oversupply at a time of reduced demand, he said.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA

*************************************************************************************

TAKEOVER RUMOUR
Bulk shipper scrambles to calm fears
By Siriporn Chanjindamanee
The Nation
Published on May 27, 2011


Under-siege TTA meets press over claims of change in shareholding

Thoresen Thai Agencies (TTA), one of the country's leading bulk shippers, has revealed the names of three people - Bee Taechaubol, Vijit Supinit, and Veera Manakongtricheep - who claimed they held a 30-per-cent stake in the company, proposing that it change management.

The shocking hostile-takeover bid sent the market into a frenzy of speculation over its possible motives.

TTA president and chief executive officer ML Chandchutha Chandratat yesterday called an urgent news conference to state that there was no evidence of a significant change in its shareholding structure, after a newspaper reported that the company might be a takeover target of an Australian fund.

Veera was a managing director of a now-defunct financial firm during the financial crisis of 1997 and Bee Taechaubol is a son of Sadawut Taechaubol, major shareholder and executive of the Country Group. Bee's involvement in the financial and property business of Country Group was marred by allegations of embezzlement by the Securities and Exchange Commission (SEC).

ML Chandchutha said TTA was contacted verbally by Bee Taechaubol, who claimed there was a group of investors who had aggregated a total of 30 per cent of TTA shares. The group wanted to change the company's management and business direction and asked for an appointment to open talks on the details.

ML Chandchutha said that on May 3 he received a phone call from Veera, who claimed he was a representative of Vijit Supinit, chairman of the SEC and also a former Bank of Thailand governor and Stock Exchange of Thailand chairman. Veera made an appointment with him on May 9. On that day, Veera appeared along with Vijit and informed him that the group now had 30 per cent of the company's capital.

He said Veera wanted to change TTA's management by proposing Vijit to replace Aswin Kongsiri as chairman. In addition, the CEO would be replaced by Michael Fernandes. Veera also propose two new directors.

ML Chandchutha added that on May 10, Vijit, Veera and Fernandes came to see him at the TTA office. They showed a list of TTA's shareholders and said they did not want it to be disclosed publicly. They said they wanted TTA to be a holding company like Berkshire Hathaway of the United States.

The group set another appointment for May 16, informing him that it wanted Aswin and two directors, Sak Eurachukiati and Stephen Woodruff Fordman, to resign from the board.

"If the board members did not resign, the group would call for an extraordinary shareholder's meeting to change all the board members, and to reduce the proportion of interests in the shipping business," ML Chandchutha said.

He said that every time he met with the group, he requested evidence that it held as many shares in TTA as it claimed, but it never produced such evidence, leading to a probe into the claim.

TTA found there had been no significant change in the names of shareholders between March 10 and May 13. Holdings by foreigners amount to 10 per cent, of which 4.3 per cent were held via NDVR.

He added that the company's board of directors was willing to listen to conditions proposed by new minor or major shareholders if the proposals would bring benefit to the company and shareholders. He said that as TTA had no main major shareholders, it could easily become the target of a takeover.

The CEO said that as the group insisted it owned 30 per cent of the company, it could call an extraordinary shareholders' meeting. The company will continue doing business as usual and is ready to submit to the SEC and SET to examine the legality of this group's shareholding.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP

*************************************************************************************

China, India will fuel demans for petrochemicals
By The Nation
Published on May 27, 2011


Thai Oil foresees continuous growth of the Thai petrochemical industry due to rising demand in China and India.

Pattaralada SaNgasang, strategic planning manager of PTT subsidiary Thai Oil, said the company expects a cycle of petrochemical business, especially aromatics, will continue to grow for the next two to three years on high consumption and demand from China and India.

China's demand for petrochemical products is about 30 million tonnes a year, and it imports aromatics of at least about 6 million tonnes per year. However, there is a shortage of global supply for the compound even though refineries have been speedily constructed.

"Demand in China continues to rise but there is not enough supply [of petrochemical products], which need to be imported. We don't know who will produce them for China. Now almost no one invests in petrochemical plants due to high investment and the long time to break even. Even though China is trying to build up more petrochemical plants, they are not enough," Pattaralada said.

The company is targeting a US$1.5 billion budget, about Bt45 billion, for investing in the energy business until 2014. Of the total, about $476 million will be invested in ongoing projects approved by its board of directors, and $890 million for projects which are under study.

In the next two to three years, the company will decide whether to invest in overseas refineries after starting its trading business in Vietnam.

Thai Oil is confident of using its own cash for business expansion. Currently, the company has equities of Bt82.74 billion while its borrowings from financial institutions amount to Bt26.21 billion, giving it a debttoequity ratio of 0.3. This gives it room for more borrowings.

Pattaralada said that stock gains may decline in the second quarter of this year compared to the first quarter but he expected no stock loss as the price of crude oil should stay above $100$103 a barrel and there was planned shutdown for overhaul this year. The next shutdown for overhauling is scheduled for 2013.

The company's refinery should be run at 102103 per cent of total capacity. This year, it plans to sell more oil in the country. In the first quarter of this year, of total oil sold, about 92 per cent were for the country and the remaining 8 per cent for exports. Usually, it sells about 80 per cent of total oil for domestic consumption and the remaining 20 per cent for exports.

Two refineries were shut down in Thailand for overhaul in the first quarter of this year and two other refineries are planned for temporary shutdown for upgrading their efficiency to Euro IV standard.

This is an opportunity for Thai Oil to utilise more refinery capacity to sell oil in the country.

The prices of petrochemical products remain high due to the global economic recovery and the disastrous tsunami in Japan. The demand for petrochemicals has been boosted even though a new production comes in but of purified terephthalic acid (PTA) used for production of polyethylene terephthalate (PET) bottles. This gives benefit to paraxylene.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP
post 157 Export

*************************************************************************************

Export index rose 25% yoy in April
By Watcharapong Thongrung
The Nation
Published on May 28, 2011


The export index in April rose 25 per cent year on year but the export value of some goods dropped, according to the Thai National Shippers' Council (TNSC).

TNSC chairman Paiboon Ponsuwanna said a survey of 25 industries showed the export index in April was 129.6, up 25 per cent year on year, while the export price index was 149, up 32.8 per cent year on year. The export volume index was 112.4, up 10.4 per cent on year.

However, the export value for some goods dropped below the base index of 100 set in 2007. For example, the index for frozen seafood was 93.18, shoes 84.42, furniture 84.76 and steel 97.20.

The export volume index of some goods was also lower than the 100base index. For frozen shrimp, the export volume index stood at 87.77, frozen seafood 73.12, machinery 94.66 and petroleum 74.17.

Industries that reported higher export value and volume were chickฌen, rice, sugar, vegetables, jewellery, plastic, paper, electronic and electric products, auto parts, chemicals and construction materials.

He said the export sector in April showed positive signs after exporters were able to adjust prices to remain competitive despite rising costs, while the agricultural sector had produced positive yields.

He predicted that exports would expand 15 per cent this year, saying the main problems of the sector were labour shortages and congestion at the ports.

Exporters faced losses from congestion problems at Bangkok port during the long weekends in April and May. The problems had raised their logistics costs, he said.

He said the new government should determine a more comprehensive trade policy and come up with a clear trade strategy to prepare Thailand to enter the era of the Asean Economic Community in 2015. He said it should promote overseas investment by Thai businesses and waive corporate tax when they brought revenue back to Thailand.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP
post 157 Export
post 158 TTA

*************************************************************************************
TTA 'would not oppose takeover'
By SASITHORN ONGDEE
THE NATION
Published on June 3, 2011

ML Chandchutha Chandratat, president and chief executive of Thoresen Thai Agencies, indicated yesterday that he would not oppose a successful takeover of the leading Thai dry-bulk shipper.


"Whatever decision the shareholders make, I will accept that. I would like them to ensure that they acknowledge information from all sides," he told The Nation.

After an alleged attempt at a hostile takeover of TTA by the "Bee group" grabbed the spotlight when Securities and Exchange Commission (SEC) chairman Vijit Supinit was implicated as an accomplice, Chandchutha conducted a roadshow to such brokerages as Asia Plus Securities on Monday and Kim Eng Securities (Thailand) on Tuesday.

"I'm just asking for the opportunity to explain what TTA has been doing over the past two years and what the company's business outlook is."

He said he had been busy doing business over the past two years and had not communicated much to the media, management team and stock analysts on what he has done for the company.

He said the company would entertain any request proposed by any of its shareholders. The company has the legal obligation to call a shareholders' meeting. However, the date that the share registration book will be closed for the right to attend the extraordinary shareholders' meeting has not been set as yet. This is still in process and the company expects to report to its board on the meeting arrangement tomorrow or Monday.

If the group of investors claiming it has gathered a sizeable number of TTA's shares wants to change the board, it would have to get more than three-quarters of the votes of those at the meeting and those with voting rights including proxies and/or more than 50 per cent of the total votes cast at the meeting, he said.

Chandchutha declined to give details on what SEC chairman Vijit said to him at a couple of meetings over the past three weeks. However, all evidence would be disclosed to such authorities as the SEC and the Stock Exchange of Thailand when asked for.

TTA will propose to its board a plan to quickly some of its cash unload by paying out dividends to its shareholders after questions were raised on why it has kept a high level of cash.

TTA's cash has been as high as Bt6 billion.

Its shipping business over the past two years has slowed down, but so has the whole shipping industry globally. The company's subsea engineering and drilling rig business via its subsidiary was also in the red as it faced the US financial crisis of 2008 and the oil-leak crisis in the Gulf of Mexico a year later.

Chandchutha knew that the shipping business was in a down cycle and has tried to diversify into related businesses such as coal mining in the Philippines and Indonesia and the fertiliser business in Vietnam. The two countries account for 21 per cent and 18 per cent of TTA's total shipments.

The company stopped ordering new ships and sold old vessels, shrinking its fleet from 49 to 20 vessels with an average age of 10 years. It plans to sell five more vessels next month.

The coal-trading firm called Unique Mining Services that TTA acquired did not generate a good pattern of earnings as expected.

"We don't see a business that gives a quick return. What the company has invested in will yield returns in the long term," he said.

There is definitely light at the end of the tunnel for TTA, as its businesses in subsea engineering and drilling rigs, coal mining and coal trading would see turnarounds in 12-24 months and become the next growth drivers of the company, Chandchutha said.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP
post 157 Export
post 158 TTA
post 159

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Fitch revises TTA outlook
By THE NATION
Published on June 17, 2011


Fitch Ratings (Thailand) has revised Thoresen Thai Agencies' outlook to "negative" from "stable". Its rating has been affirmed at national long-term senior unsecured "BBB+(tha)".

The outlook revision reflects TTA's weaker-than-expected performance for the first half of the financial year ending September 2011 leading to higher financial leverage.

Although Fitch expects TTA's core businesses to recover over the next 12-24 months, the recovery remains fragile, because of a weak operating environment for dry-bulk shipping and turnaround challenges of the offshore marine business, particularly with the new management. This could further dampen TTA's financial performance, and delay de-leveraging.

During the second quarter of fiscal year 2011, TTA faced deteriorating freight rates and a reduction in vessel days due to its postponed purchase of second-hand vessels.

In addition, it was unable to pass on to clients higher costs driven by rising oil prices, because of tonnage oversupply.

Its offshore marine services did not, as expected, see a significant rise in the utilisation of sub-sea engineering vessels, partly because of transition to new management and partly because of the industry's low season during January to March.

For the first half of fiscal 2011, EBITDA (earnings before interest, taxes, depreciation, and amortisation) fell 25.4 per cent year on year to Bt966 million.

TTA's liquidity is adequate, Fitch said, supported by cash and cash equivalent of Bt4.3 billion and undrawn committed facilities of US$683 million (about Bt20.9 billion) at the end of March. Nevertheless, further weakening in its performance may worsen its liquidity position.

The rating is based on TTA's long expertise and established position in the Southeast Asian market in both dry-bulk shipping and offshore marine services, the agency said. The rating is also supported by TTA's diversification into non-dry-bulk shipping businesses as a buffer against the cyclical downturn in the shipping industry.

For the past two years, the contribution from non-dry-bulk shipping businesses has increased to more than 40 per cent of TTA's consolidated EBITDA, from 10-15 per cent previously.

The rating is constrained by the cyclical, volatile and fragmented nature of the dry-bulk shipping industry. The outlook on freight rates remains weak over the next 12-18 months given oversupply risk in 2011-12. While TTA's more diversified business model helps reduce the cyclicality and uncertainty of cash flow in the long term, this comes at the expense of higher financial leverage, Fitch said.

The rating may be downgraded if there is no recovery in its core businesses, while continuing large capital expenditure and investment over the next 12 months leads to sustained high financial leverage and/or if liquidity worsens, or if there is any negative action from its bank lenders threatening its liquidity position.

On the other hand, Fitch said, the outlook might be revised to "stable" if there is a significant improvement in its core businesses, especially in offshore services, over the next 12 months, resulting in a decline in financial leverage to below 3.0 times.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP
post 157 Export
post 158 TTA
post 159 TTA
post 160 Property (LPN, AP,...)

*************************************************************************************

NEW HOME MARKET
Companies pitch deals to counter fall in demand
By Somluck Srimalee
The Nation
Published on June 24, 2011

Discounts reach 15%, along with gifts to lure buyers

Property developers and home-builders are launching promotional campaigns in the final days of June in a bid to boost their second-quarter sales after a significant 5- to 10-per-cent drop in demand for new homes in the first half of this year.

Among them is home-builder Seacon Home, which will launch what it calls Seacon Group New Home Fair this weekend. The campaign will offer discounts of up to 15 per cent and free BlackBerry and iPhone4 smart phones for people who order new homes constructed on their own land plots during the two-day event. The company expects to attract sales totalling Bt200 million.

Another home-builder, Four Pattana, is also staging what it calls Four Pattana Golden Week. It will end on Sunday and the company expects to sign up business worth at least Bt300 million in the week-long campaign.

Meanwhile, LPN Development launched a special promotion campaign in the middle of this month to clear some of its new-home inventory, by offering price discounts of 10 per cent.

LPN's managing director Opas Sripayak said the campaign had attracted sales totalling Bt1 billion.

"We had to drive our sales in the second quarter of this year because we have not launched any new projects," he said, adding that the campaign was also a move to ensure that the company's total revenue reached its target of Bt11 billion this year.

Asian Property Development launched a new condominium project called "Aspiring Height by AP" last week and succeeded in attracting presales worth Bt800 million.

Asian Property Development's deputy chief of strategic marketing Vittakarn Chandavimol said the launch set out to test the strength of demand in the market. In achieving presales of Bt800 million, the company exceeded its own expectations of presales worth Bt500 million, and this was due to real demand for condominium units, he said.

Meanwhile, Seacon Home's general manager Supitcha Chaipipat said her company was expecting sales of Bt200 million from this weekend's Seacon Group New Home Fair, despite growth in demand for homes that was only slight, compared with the second quarter of last year.

This weekend's earnings will help the group achieve its target of Bt1.5 billion in revenue this year.

She added that the company expects total sale Bt200 million from this event that is apart to boost the group's total presale achieve the target Bt1.5 billion in this year.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP
post 157 Export
post 158 TTA
post 159 TTA
post 160 Property (LPN, AP,...)
post 161 Banking

*************************************************************************************

Commercial bank lending in May up 15%
By THE NATION
Published on June 25, 2011


Commercial banks loaned Bt104 billion in May, up by 15 per cent month on month, with corporate loans the key growth driver.

Kim Eng Securities (Thailand) said in a research note yesterday that the growth came from loans to corporations, small and medium-sized enterprises, and retail. Corporate loans recorded outstanding growth both in term loans and working capital.
According to the monthly report by banks, Bangkok Bank's loans were Bt1.2 billion, Krung Thai Bank (KTB) had loans of Bt1.27 billion, Kasikornbank lent Bt1.08 billion and Siam Commercial Bank (SCB) lent Bt1.09 billion.

KBank showed the highest growth among commercial banks with 3.7 per cent month on month, followed by TMB Bank with 2.3 per cent, SCB with 2.2 per cent and KTB with 1.7 per cent.

Lending in the first five months grew by 5.4 per cent over the same period last year.

The banking industry is the first sector on the Stock Exchange of Thailand that reports financial performance.

The lending growth of all banks will reflect on their operating performance in the second quarter, with Kim Eng projecting continued expansion of net profits and net interest margins (NIM).

Kim Eng forecasts the combined profits of the banking industry this year to increase by 29.1 per cent from 2010.

Loan demand in the second half is expected to increase, especially in the fourth quarter when businesses require working capital.

The securities house predicts lending growth throughout the year will be more than the previous forecast of 11.3 per cent.

Total loans in the second quarter are expected to increase by 2.5-3 per cent over the first quarter, lower than the loan growth of 3.7 per cent in the first quarter because of a decline in corporate and auto loans, according to Ayudhya Securities.

Ayudhya Securities expects total lending in 2011 will expand by 8.6 per cent over last year, with corporate and retail loans the drivers in line with the trend of investment and consumer spending

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP
post 157 Export
post 158 TTA
post 159 TTA
post 160 Property (LPN, AP,...)
post 161 Banking
post 162 AOT, TIPCO

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AOT sees record passenger numbers
By THE NATION
Published on June 30, 2011


Airports of Thailand expects record passenger numbers at all six of its airports this fiscal year, with 46 million anticipated for Suvarnabhumi Airport alone.

Niran Thiranartsin, acting president of AOT, yesterday said the overall number of passengers would hit 65 million by September 30, when the 2011 fiscal year ends.

AOT, which celebrates its 32th anniversary tomorrow, operates Suvarnabhumi, Don Mueang, Phuket, Hat Yai, Chiang Mai and Chiang Rai airports.

"In the first eight months of the fiscal year [October to May], the number of passengers hit 44.77 million. The airports also accommodated a total of 295,000 flights. Our anticipation is that the annualised number of passengers will be as high as 65 million, with 418,000 flights, representing increases of 13 per cent and 8 per cent respectively from the previous year," he said.

He added that as Suvarna-bhumi would handle an estimated 46.28 million passengers this year against its capacity of 45 million, it was vital to proceed with the Bt9-billion investment in a domestic passenger terminal, as suggested by the International Civil Aviation Organisation.

The extra terminal, requiring 44 months for construction, would accommodate 20 million passengers per annum, boosting Suvarnabhumi's capacity to 65 million.

AOT also plans the construction of an international passenger terminal at Phuket International Airport, along with facility improvement, as the airport is expected to handle 7.96 million passengers this year against its designed capacity of 6.5 million.

Currently in the design stage, the new Green Building will increase the capacity to 12.5 million once it is completed in 2014, Niran said.

Listed on the Stock Exchange of Thailand, AOT reported a net profit of Bt2.4 billion for the period from October to March.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Tipco F&B thirsts for big leap in sales
By KWANCHAI RUNGFAPAISARN
THE NATION
Published on June 30, 2011


Tipco F&B, a local joint venture between Thai-based Tipco Food and Suntory of Japan, aims to more than double beverage sales from Bt2.2 billion last year to Bt5 billion by 2015.

Suntory itself plans to launch at least three new beverage categories in the Thai market within the next three years, said Viwat Limsakdakul, chief executive of Tipco F&B.

In addition to Dakara functional drink, which was relaunched locally by Tipco F&B six months ago, the company plans to launch Suntory's new beverage product into the market within the next six months. Another new beverage will be also launched locally next year.

"We expect the sales contribution from Suntory products to increase dramatically from 10 per cent of total sales this year to about 50 per cent by 2015," Viwat said.

Tipco Food formed a joint venture with Suntory three years ago as part of its strategic move to penetrate the beverage market in both Thailand and other potential markets in Southeast Asia, such as Indonesia and Vietnam. The move is intended to benefit from the Asean Economic Community (AEC), which will be fully effective in 2015.

The company has set up a beverage factory in Wang Noi, Ayutthaya, with an investment of about Bt1.7 billion. Located on a 40-rai land plot, the factory is able to produce about 130 million litres of beverage products per annum.

Viwat said the company wants to boost exports to Asean countries, which will increase significantly from only 5 per cent last year to 25 per cent by 2015.

Kimiya Onuki, executive general manager at the Bangkok office of Suntory Holdings, said that almost 50 per cent of the group's business was from beverage products.

"We are the local bottlers for Pepsi in Japan. We also have our own carbonated drinks as well as mineral water, green and Chinese tea, canned coffee, and fruit juice," said Onuki.

"Our key strategy is to make Suntory beverages successful in Thailand first before extending ourselves into other potential markets in Asean," he said.

Tipco F&B yesterday relaunched its Dakara, a Japanese-style functional drink, into the Thai market.

Chanchai Kanjanaratmanee, operations director for the beverage business, said that Thailand's overall functional-drink market was worth about Bt2.4 billion and was dominated by three or four major players.

Chanchai said the beauty drinks segment has controlled the local functional drink market. However, its market share has declined significantly from 70 per cent two to three years ago to about 46 per cent today. Another two key players are Amino OK with 20 per cent market share, and B-ing with 16 per cent market share.

"With the relaunch, we expect our Dakara functional drink, which is available under the new name of Dakara Benefit, to gain 5 per cent share of the local functional drinks market by the end of this year," Chanchai said.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP
post 157 Export
post 158 TTA
post 159 TTA
post 160 Property (LPN, AP,...)
post 161 Banking
post 162 AOT, TIPCO
post 163 PTT&PTTEP, Banken Q2

*************************************************************************************

ENERGY
PTT shooting for global prowess
By Watcharapong Thongrung
The Nation, Perth
Published on July 21, 2011

National oil-gas giant aims to be in top 100 on world stage with continued focus in 3 main regions

PTT Group, the national oil and gas conglomerate, will strive to become a major business player on the world stage by investing as much as US$100 billion (Bt3 trillion) by 2020, with half going abroad, focusing on the three strategic clusters of Thailand/Burma, Australia and North America.

"We have to become one of the top 100 premier multinational companies ranked by Fortune," Prasert Bunsumpun, president and chief executive officer of PTT, said during his visit to Australia last week.

According to Fortune magazine's corporate survey, PTT advanced to 128th place from 155th last year.

"The management team led by Pailin Chuchottaworn, who will become the next PTT CEO, succeeding me in September, will be more challenged in doing multinational business than my generation. They have to secure energy sources outside the country, as Thailand is a net importer of energy," Prasert said.

PTT has repositioned itself from being an "energy conglomerate", which is producer and distributor of oil and gas, to being a "business conglomerate", which is a provider of a wide range of energy, with strengths in the coal, petrochemical and power businesses, he said.

PTT targets revenues of $200 billion in 10 years, mostly from overseas.

"We want everyone to aim high in each business unit, so the high target challenges the organisation," he said.

PTT Exploration and Production (PTTEP), which will make more than half of the investment planned abroad, aims to increase its capacity from 300 billion barrels a day to 900 billion barrels over 10 years.

In the first quarter of this year, PTT earned Bt34 billion in net profit.

PTT's revenue should be between Bt2.3 trillion and Bt2.4 trillion this year, up from Bt1.9 trillion last year, Prasert said.

The board meeting on Saturday will consider the group's five-year business plan (2012-16).

Out of the Bt1 trillion capital-expenditure budget under the five-year plan, Bt300 billion will go to PTT, Bt400 billion to PTTEP and the rest to the petrochemical and oil refinery group. More than half of the budget is allocated for projects abroad.

PTT will invest in natural-gas projects, an oil depot for the second-phase liquefied natural gas (LNG) project, a gas pipeline to the North and Northeast, the fourth pipeline and expansion of the filling-station chain for motorists.

PTT also has equity exposure in the coal business in countries such as Brunei, Madagascar and Australia as well as the floating LNG project of PTTEP.

PTT's power business will mainly look at neighbouring countries such as Laos and Burma for exporting back to the country.

PTT has budgeted Bt90 billion for acquisition deals over the next five years.

PTTEP will still focus on the Burma/Thailand cluster, Australia and North America.

Most of PTT's investment in the petrochemical and refinery businesses is through its subsidiaries. The priorities are upgrading oil quality to meet Euro 4 standards and developing alternative-energy enterprises. Thai Oil will emphasise ethanol investment, while Bangchak Petroleum will key in on ethanol and solar power.

PTT Chemical and PTT Aromatics and Refining are in the process of merging with each other to form a firm named Global Chemical, which will primarily direct its investment towards premium plastic-pellet production.

The group sees bright prospects for the coal business, as worldwide reserves of the mineral are more abundant than those of oil and natural gas. The company plans to raise its annual coal-production capacity to between 30 million and 40 million tonnes by 2015 and 70 million tonnes by 2020. It has invested in the business through PTT Asia Pacific Mining, which operates coal mines in Indonesia and has production capacity of 10 million tonnes per year.

It is also applying for coal concessions in Brunei and Mongolia, besides its existing concession in Madagascar.

CIMB Research expects PTTEP to raise capital in six to 12 months to match its ambitious expansion plan in tripling production by 2020, which would lead to earnings dilution.

PTTEP is expected to post second-quarter earnings of Bt11 billion, as costs could rise sharply from $23.7 per barrel equivalent last year to $32 in 2012.

S&P OUTLOOK

Fluctuating crude-oil prices, a potential global economic slowdown, heavy investments, and liquidity pressures will present challenges to oil and gas companies in the Asia-Pacific region, but strong energy demand should help them weather the storms, according to a recent report from Standard & Poor's Ratings Services.

"Exploration and production (E&P) companies have benefited from improved prices in 2011 compared with 2010. But our credit outlook for 18 of the E&P companies is negative, largely due to the scope, scale and funding of their investment projects," said Andrew Wong, an S&P credit analyst.

"With high investment plans and price volatility likely to continue, the criticality of adequate liquidity and access to external financing is increasing," he said.

Nevertheless, S&P believes that most of the 18 rated companies will effectively manage their liquidity through sufficient cash balances, strong operating cash flows or solid access to external financing attributable to their strong business position or government linkage.


###########################################################################

Interest income key to banks' Q2 profit surge
By Sucheera Pinijparakarn
The Nation
Published on July 21, 2011


Strong growth in both interest and non-interest income drove the vastly improved net profit posted by five major banks for the second quarter.


The five institutions reported combined net earnings of Bt31.06 billion, representing a 36.34-per-cent increase from Bt22.78 billion in the same period last year.

Brokerages commenting on the results yesterday said soaring interest income as a result of higher interest rates and economic expansion that supported loan growth were the main contributors to the impressive performance.

Banks during the second quarter increased their rates for both deposits and loans, in line with the Bank of Thailand's hike in the policy rate.

Siam Commercial Bank continued to post the highest quarterly earnings, at Bt8.13 billion, up 53.1 per cent year on year.

However, Krung Thai Bank's net profit increased the most, by 55.48 per cent to Bt5.24 billion.

Bangkok Bank, the country's largest bank in terms of assets, witnessed the lowest growth among the five major banks, at 9.11 per cent.

The banks enjoyed a wider net interest margin, with the exception of Siam Commercial Bank, whose NIM declined by 0.02 percentage point to 3.24 per cent.

Bangkok Bank reported a net profit of Bt7.4 billion, against Bt6.78 billion in the same period last year.

Its net interest income was Bt13.08 billion, up by 17.83 per cent, while net fee income grew by 12.07 per cent to Bt4.64 billion.

As of June 30, the bank's outstanding loans totalled Bt1.36 trillion, an increase of 8.5 per cent from the end of last year.

Krung Thai Bank, the country's second-largest bank, reported a quarterly net profit of Bt5.24 billion, up from Bt3.37 billion a year earlier.

The key profit-growth drivers at the bank were a 28.53-per-cent increase in net interest income and a 14.32-per-cent rise in fee income.

Net interest income in the quarter was Bt12.33 billion, and net fee and service income came in at Bt2.94 billion. The bank's NIM improved to 2.68 per cent from 2.39 per cent year on year.

Kasikornbank, the third-largest bank, reported net profit of Bt7.32 billion, up by 42.41 per cent from Bt5.14 billion a year ago.

Outstanding loans at the end of the second quarter were Bt1.16 trillion, 7.76 per cent higher than in the first quarter.

As a result, the bank plans to revise upward its loan-growth target for the year from 7-9 per cent to more than 10 per cent, said Krisada Lamsam, senior executive vice president.

KBank's loan growth brought in interest income of Bt13.94 billion in the second quarter, a 22.5-per-cent increase from the same period last year.

Fee income was Bt9.12 billion, for a rise of 25.82 per cent year on year, while NIM increased to 3.56 per cent from 3.46 per cent a year ago.

Siam Commercial Bank's interest income rose by 29.7 per cent to Bt12.6 billion, from Bt9.7 billion in the second quarter of last year. The main reason for the sharp increase was buoyant loan growth of 21.1 per cent year on year.

To a large extent, the above-market growth trend at the bank is a reflection of the increase in its penetration in three segments: small and medium-sized enterprises, large corporations and automobile loans.

Non-interest income jumped 36.4 per cent year on year, driven largely by the sharp increase in insurance premium income following the acquisition of substantial additional equity in SCB Life in the preceding quarter.

Bank of Ayudhya's net profit in the second quarter soared by 40 per cent to Bt3 billion, a quarterly record for the bank.

Major drivers behind the rise were net interest income of Bt13.71 billion, up 19.6 per cent year on year, while fee income increased by 17.9 per cent to Bt3.58 billion.

Bank of Ayudhya posted the highest NIM among the five banks, at 4.56 per cent.

[schmithi]

post 125 AYUD
post 126 Bankensektor, PTTEP
post 127 SCNYL
post 128 PTT & PTTEP
post 129 TMB
post 130 IVL, SIRI
post 131 PTTEP
post 132 CPF
post 133 MINT
post 134 IVL, KBANK
post 135 BANPU
post 136 BANPU
post 137 ASP, PRIN
post 138 EGCO, PTT
post 139 TRUE, AP
post 140 SCB&SCNYL, EASTW, food sector, BH
post 141 KK, CK&PTT&EGCO
post 142 BANPU, TRUE, PTT Group, TUF
post 143 BAT-3K
post 144 PTTEP
post 145 Property
post 146 Banks
post 147 PTTEP
post 148 PTTAR&PTTCH
post 149 PTT
post 150 SCNYL
post 151 CPF
post 152 BANPU
post 153 PTTAR
post 154 Property
post 155 TTA
post 156 TOP
post 157 Export
post 158 TTA
post 159 TTA
post 160 Property (LPN, AP,...)
post 161 Banking
post 162 AOT, TIPCO
post 163 PTT&PTTEP, Banken Q2
Anpassung der Nummerierung
post 168 SCC, LH
*************************************************************************************

Scg sees improvement in second half of the year
By Nalin Viboonchart

The Nation
Published on July 25, 2011


Siam Cement Group expects its operating results to recover in the second half of the year thanks to improved margins for the petrochemical business and |strong demand for cement and building materials.

SCG will be reporting its second-quarter results on Wednesday. Many brokerages forecast declining net profit due to a sharp drop in the petrochemical business and the low seasonality of the cement industry. Net profit in the second quarter will be the lowest of this year.

Kan Trakulhoon, president and CEO, said last week that 12 million tonnes of new supplies of petrochemical products like high-density polyethylene and polypropylene entered the market and squeezed spreads.

Small or weak petrochemical plants that cannot weather the thin spreads |will scale back operations or close down in the second half, resulting in better spreads for petrochemical products, he said.

Prospects for the construction industry should be brighter once the new government is formed. Consumer and investor confidence is back after the general election, as shown by the stock market climbing higher than other bourses in the region. If the new government pushes through the infrastructure projects it revealed during the political campaigning, demand for cement and building materials will perk up, he added.

Kim Eng Securities (Thailand) forecasts SCG's second-quarter net profit at Bt7.5 billion, a decrease of 19 per cent quarter on quarter but an increase of 3 per cent year on year. The inventory loss from the petrochemical business was the main drag on results.

Unlike the inventory gain of Bt1 billion in the first quarter, the company likely lost Bt500 billion from the US$50-$100-per-tonne decline in prices of polyethylene (PE) and polypropylene (PP) in June. Kim Eng expects SCG to book Bt2.75 billion net profit from the petrochemical business, a 43-per-cent plunge from the first quarter and a 11-per-cent drop from the same quarter last year.

Cement demand in the second quarter softened from the previous quarter, while cement prices also sank in June, resulting in an expected 20-per-cent slide in profit from the first quarter to Bt1.79 billion. However, the estimated cement business profit was still up by 21 per cent from the same quarter last year.

The paper business was buzzing in the second quarter thanks to demand from the election campaign. The business is estimated to post a net profit of Bt1.27 billion, up by 21 per cent quarter on quarter and 9 per cent year on year.

Kim Eng Securities sees SCG's performance recovering in the second half due to the improvement in petrochemical spreads. The company's operating results are also forecast to grow by 15-20 per cent over the next four to five years due to the increased share of high value-added products and new investment. The company plans to pour Bt70 billion into new projects.

Kiatnakin Securities forecasts SCG's second-quarter net profit at Bt6.81 billion due mainly to the inventory loss of Bt700 million. The company's first-half net profit is expected to grow 13 per cent year on year to Bt16.02 billion, due to the momentum from the good results of the first quarter.

Finansia Syrus Securties estimates SCG's net profit at Bt7.62 billion, decreasing by 17 per cent quarter on quarter but increasing by 4 per cent year on year.

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L&H foresees up to 10% property-market growth
By Somluck Srimalee
The Nation
Published on July 22, 2011


One of Thailand's top property developers, Land & Houses, believes the property market will continue to grow in the second half of this year, leading to annual growth of 5 to 10 per cent in 2011.

This is due to political stability and continuing growth in demand for residential projects, the company's senior executive vice president Naporn Soonthorn-chitcharoen said in an interview with The Nation last week.

Naporn's optimism is unaffected by the fact that registrations of new residences built by property developers in the first four months of 2011 fell by 42 per cent, from 27,109 units in the first four months of 2010 to just 15,714 units this year.

He said the second half of the year would see the completion of a number of new residential projects, including condominiums and low-rise residences such as single detached houses and townhouses. Transfers from these projects to customers are expected to drive registrations of new residences up to more than 82,500 units before the end of this year - a rise of five to 10 per cent over last year, he said.

Naporn said the new government's plan to increase the minimum daily wage to Bt300 would have only a minor impact on the property market because labour represented only about 20 per cent of total production costs in the industry. If the minimum daily wage rises from Bt215 to Bt300 [in Bangkok], this 39.5-per-cent hike in labour costs will translate into an increase in construction costs of about 4 per cent, he said.

In any case, most property firms subcontract labour-intensive work, and the contractors may decide to adjust their prices by less than 4 per cent, he said.

Overall, although construction costs are rising, property firms cannot push the extra costs directly on to home-buyers because of fierce competition, so the impact on new-home prices from the new government's daily-wage policy will not be substantial, he said.

After considering market trends, Land &Houses has decided to maintain its revenue target of Bt25 billion for this year, an increase of 25 per cent from 2010. It recorded presales worth Bt11 billion in the first half of this year, Naporn said.

He said the company's strategy continued to focus on two business arms: real estate and investment in other businesses. More than 80 per cent of its revenue currently comes from real estate.

Land & Houses holds a stake of about 24 per cent in Quality Houses; 21 per cent in Quality Construction; 30 per cent in Home Product Centre (Homepro); and 35 per cent in LH Bank.

Earlier this year, it sold a major stake in Bangkok Chain Hospital to Bumrungrad Hospital and part of its holding in Quality Construction to the SCG Group. This generated a return on investment of more than 100 per cent in both cases.

"We will continue to seek new businesses for investment in the long term, both domestically and overseas, depending on the opportunities that arise," Naporn said.

In looking overseas, Land & Houses is focusing on Asean countries ahead of the implementation of the Asean Economic Community in 2015. It may look to other sectors such as retail, now that Home Product Centre plans to open a branch in Malaysia, he said.

Meanwhile, the property sector will remain the company's main domestic focus, as it believes the advent of the Asean Economic Community will create residential demand from Asean investors.

"Thailand is the best location in the region, so we do not need to expand our residential development overseas because domestic demand will increase in all segments: residential, serviced apartments, apartments and office buildings," he said.

Land & Houses is now ranked third in the property market in terms of presales, behind Pruksa Real Estate and Sansiri.

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post 165 Banking
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post 169 SCB
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Growing economy pushes SCB retail segment
By SUCHEERA PINIJPARAKARN, THE NATION
Published on July 26, 2011


Siam Commercial Bank is upbeat that continued economic expansion will help its retail banking business achieve its annual goals.

"Retail banking is set to grow beyond our expectations," Yol Phokasub, SCB's senior executive vice president and head of retail banking, said yesterday.
"We expect outstanding personal loans to stand above Bt20 billion this year, up from Bt18 billion last year," he said.

The bank's total retail banking business this year should advance by 18 per cent, beating the 15-per-cent target.

In the first six months, the bank's new loans reached Bt90 billion, with between Bt40 billion and Bt45 billion in mortgages, Bt32 billion in hire-purchase loans and the rest in very-small-enterprise, credit-card and personal loans.

All retail banking segments showed impressive growth, especially hire-purchase loans, which account for 25 per cent of the bank's retail loan portfolio of Bt400 billion. The bank's hire-purchase loans have already hit this year's target of Bt100 billion.

"We're encouraged to revise upwards the target to Bt120 billion," Yos said.

SCB's mortgage portfolio worth Bt300 billion should continue to build up as key developers are rushing to transfer completed homes to customers before year-end.

Spending on the bank's credit cards this year is expected to surge to Bt160 billion from Bt130 billion last year. Industry-wide credit-card spending last year was Bt800 billion.

About 80 per cent of spending on SCB's 1.8 million credit cards comes from the half of the cards issued to platinum and beyond-platinum cardholders.

Yesterday, in cooperation with Thai Airways International, the bank launched a campaign allowing these premium cardholders to redeem their loyalty points for Royal Orchids Plus rewards. In its three-month run, the promotion is expected to boost spending by Bt1.2 billion.

SCB has Bt26 billion to Bt27 billion out in credit-card loans.

SCB has enjoyed growth of 10-11 per cent in credit-card spending so far this year. And spending and demand for personal loans is expected to soar in the rest of the year, the prime spending season.

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post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
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Kiatnakin aims to boost used-car loans
By SUCHEERA PINIJPARAKARN
THE NATION
Published on July 30, 2011


Kiatnakin Bank has raised its forecast for lending growth this year to 24 per cent from 16-19 per cent to reflect the actual loan growth in the first half, basing the revision on its plan to increase the proportion of instalment loans for used cars.

Tawatchai Sudtikitpisan, president and chief executive officer of the bank, said yesterday that auto loans would be a key driver of loan growth in the second half. The bank will try to boost the proportion of used-car loans to 50 per cent from 40 per cent currently, while hire-purchases of new cars will be reduced to 50 per cent.

"We expect the hire-purchase segment to grow by 30 per cent throughout the year," he said.

Instalment loans for used cars have a higher interest rate than for new vehicles, so the focus on second-hand cars will create higher interest income, Tawatchai said. He noted that the relative number of auto loans was not able to rise as quickly as deposits in the first half because of the competition to secure the portfolio during the shortage of auto parts.

The resolution of the auto-parts situation is accelerating a supply of new cars in the market in the current second half, which will drive demand for hire-purchase loans. The effective rate of hire-purchases could increase quickly as well, so it is good timing for the bank's aggressive focus on used-car loans to boost interest income and improve spread, Tawatchai said.

The spread now is 4.8 per cent, while the bank has attempted to keep the range of its spread between 4.5 and 5 per cent, he said.

Kiatnakin Bank's hire-purchase loan portfolio at the end of June was Bt90 billion, or 73.6 per cent of the total loan portfolio of Bt122 billion.

Chavalit Chindanavig, head of finance and budgeting, said the bank would also aggressively pursue retail customers to draw in new deposits in preparation for the drop in the deposit guarantee to Bt1 million next year.

"We want to diversify retail depositors, so new branches will mainly be in shopping complexes. We aim for a deposit ratio between head office and branches of 50:50 by the end of this year, from 60:40 now," he said. Kiatnakin Bank plans to add 11-16 branches this year to its current total of 68.

Chavalit said the bank would drive the proportion of bills of exchange to 40 per cent by the end of this year from 35 per cent as of June 30.

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post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
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post 169 SCB
post 170 KK
post 171 food sector
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FOOD EXPORTS
Value may hit Bt1 tn in 2 years
By Nalin Viboonchart
The Nation
Published on August 2, 2011

Global demand to push 2011 sales to Bt900 bn

The value of Thai food exports is expected to reach Bt1 trillion within the next two years thanks to continued high global demand, with sales this year predicted to hit Bt900 billion, said the Federation of Thai Industries' Food Processing Industry Club and the National Food Institute.

Visit Limprana, chairman of the Food Processing Industry Club, yesterday said exports of all food products grew more than 10 per cent per year in volume terms as worldwide demand increased, while product value was also higher than in the past. This has resulted in the forecast of export value touching Bt1 trillion within two years.

He said the club planned to discuss with other associations and organisations how to improve the quality of food products to achieve the target and become the world's leading food exporter.

National Food Institute director Petch Chinabutr said Thailand's food exports in the first half of the year were about Bt478 billion. The institute expects a further Bt422 billion in the second half. As a result, exports this year could reach Bt900 billion, representing 12-per-cent growth from Bt802.65 billion last year.

Besides, export value in May hit a monthly high of Bt93.05 billion, before slipping to Bt91.34 billion in June.

Food exports in the second quarter were Bt255.56 billion, with rice experiencing the highest year-on-year growth at 54 per cent for overseas sales of Bt54.85 billion. Sugar exports in the quarter rose by 56 per cent to Bt43.12 billion.

Export growth for both rice and sugar is attributed to the government's policy of allowing higher export quotas, Petch said.

He said the fragile US economy and the financial problems in Europe were not major concerns for Thai exporters, since both markets were no longer the world's biggest importers for the Kingdom's food products, having been overtaken by Japan and Asean.

However, if the economies in the United States and Europe do not recover soon, they will slightly affect Thai food exports in the future, he added.

Petch said that to maintain good export growth in the sector, the new government should formulate a policy to enhance the efficiency of small and medium-sized manufacturers.

Thailand has about 8,000 food-processing plants, of which 200 are large-scale plants, which are not currently facing major problems. The government should, therefore, focus on the remainder, with food safety its top priority, he said.

Pornsilp Patcharintanakul, president of the Agriculture and Food Committee of the Thai Chamber of Commerce, said that if the government wanted to revive the Thai Kitchen to the World project, if should formulate a serious food-safety policy.

State agencies should educate farmers on to how to grow products hygienically, and an excise duty should be imposed on farmers or manufactures unable to meet hygiene standards, he said.

"A food-safety policy will not genuinely come into being if this practice cannot be implemented," he added.

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post 163 TTA
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post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)

Life insurers report strong new business

By THE NATION
Published on August 3, 2011


Life insurers have reported strong new business thanks to the growing economy and successful agents along with new products directly serving more people's lifestyles.

SCB Life Assurance showed solid performance with a rise of 26 per cent to Bt5.77 billion in first-year premiums in the first half of this year after boosting sales teams, setting an effective sales strategy and focusing on training.

SCB Life projects its first-year premiums to grow 12 per cent and total premiums to rise 26 per cent over 2010's results.

The insurer appointed a new chief agency officer to pursue its sales and is bullish on steady growth in the second half.

Phanpornt Dabbaransi, acting managing director, said yesterday that SCB Life's business in the first half beat the target.

Renewal premiums rose 19 per cent to Bt9.65 billion and total premiums by the same percentage to Bt14.55 billion over the same half last year.

The sales figures from all distribution channels were on target. Bancassurance remained the key driver of first-year premiums, up 17 per cent to Bt4.52 billion.

Special market group sales - telesales, credit life and group life - climbed 130 per cent to Bt620 million while group life skyrocketed 656 per cent. Agent sales jumped 37 per cent to Bt638 million. The new channel through Tesco Lotus stores also showed encouraging results.

"The outstanding growth was largely the result of building up sales teams. Our continued effort to expand new distribution channels through new business partners to provide easy and fast access for consumers to buy life insurance also yielded strong results and contributed to overall company performance," Phanporn said.

The company is optimistic about sustaining the strong momentum in the second half by ensuring quality of services and products, starting from recruiting sales agents, developing more products and screening customers.

Kitti Rungsisingpipat, 51, who became an executive vice president and the chief agency officer on Monday, will lead and set the vision and strategy of the agency group to continue the solid growth of agency distribution. He will also be responsible for enhancing agency training and service and managing all operations.

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post 166 AOT, TIPCO
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post 169 SCB
post 170 KK
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post 172 SCBLIF (früher SCNYL)
post 173 PTTEP

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PTTEP ups 2012 sales volume target
By NALIN VIBOONCHART
THE NATION
Published on August 6, 2011


PTT Exploration and Production (PTTEP) is raising its sales-volume target for next year from the current figure of 307,000 barrels of oil equivalent per day thanks to better-than-expected new production from blocks such as Vietnam 16-1 and S1.
President and chief executive officer Anon Sirisaengtaksin yesterday said the Vietnam 16-1 block would start first-phase production in the middle of this month with initial output of 20,000boe/d. That will double to 40,000boe/d by year-end.

PTTEP is currently installing the wellhead platform, which is part of the second-phase construction, expected to be complete next year. As a consequence, production volume in this block will rise to 55,000boe/d, which is better than the previous estimate.

PTTEP is still exploring in the S1 block in hopes of increasing production. As of the second quarter of this year, average volume of crude oil in the block was 22,719boe/d. The company has submitted a document to the Department of Mineral Fuels asking for a new exploration area in the S1 block covering 327.4 square kilometres.

PTTEP expects the revision to be concluded soon. As well, it is considering its five-year investment budget (2012-16) as it waits for reserve-appraisal results from a number of blocks such as those in Oman, Australia and Khon Kaen, Thailand, Anon said.

The company also lowered this year's sales-volume target to 269,000boe/d from the previous figure of 273,000boe/d after it was unable to resume the Montara operation off Australia as planned. PTTEP will resume production in Montara next March with volume of 35,000boe/d.

Anon said PTTEP recently decided to go ahead with its investment in Algeria's 433a and 416b blocks because of the reasonable bidding price. It is in the process of engineering procurement and construction. The first oil production is expected at 20 barrels per day in 2014.

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post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
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post 171 food sector
post 172 SCBLIF (früher SCNYL)
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BAT-3K wins major car battery contract with Benz
Published: 18/08/2011 at 12:00 AM
Newspaper section: Business

The maker of market-leading 3K batteries has secured a major contract to produce and supply valve regulated lead-acid batteries to Mercedes-Benz in Germany.

Thai Storage Battery Plc (BAT-3K) struck the deal recently with Daimler AG after two years of negotiations including visits by Mercedes-Benz research and development personnel to the battery plant in Thailand, said Veerawin Korphaibool, director and vice-president of the SET-listed company.

The contract calls for 3K to produce and supply 500,000 auxiliary batteries over four years starting in 2012 for Mercedes-Benz cars.

"It is the first time for 3K battery to export batteries to a carmaker abroad," said Mr Veerawin.

The company also supplies batteries to Volvo and General Motors in Thailand. It has no contracts with Japanese carmakers so its sales were not affected by their Thai units' recent production slowdown caused by parts shortages from Japan following the earthquake.

Mr Veerawat said sales of 3K Battery in the first half grew 34.2% year-on-year to 3.06 billion baht, mainly driven by the 3K V-Series, a sealed maintenance-free (SMF) battery with more than 100,000 units sold, and a target of 200,000 units by year-end. As a result, net operating profit in the first half was 219.39 million baht.

BAT-3K reported a net profit of 129 million baht for the second quarter, compared with 16.8 million a year earlier. First-half consolidated net profit was 217.4 million baht (10.87 baht a share), compared with a net loss of 1.95 million (0.10 baht a share) in the same period last year.

"Sales revenue in the first half was very successful due to the economic growth in the agricultural and industrial sectors and more stable political situation that had the psychological effect of boosting consumer confidence and increasing purchases," he said.

3K Battery projects to sell 1.5 million batteries this year worth between 5.7 billion and 5.8 billion baht, a 10% increase in value from 2010. The overall battery market totals about 4.5 million units annually and 3K is expected to capture a 30% share.

BAT-3K shares closed yesterday on the SET at 91 baht, up one baht, in trade worth 897,000 baht.

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post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
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post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
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Thai insurance targets bancassurance growth

By SUCHEERA PINIJPARAKARN
THE NATION
Published on August 24, 2011

Thai Insurance wants to capture more affluent customers by focusing on the bancassurance marketing channel, aiming to increase its share in total premiums from 6 per cent to 20 per cent in a few years.

"Bancassurance has allowed the company to access more retail customers. The insurance products sold through this channel are jointly developed with TMB Bank," Panita Tuchinda, managing director, said yesterday

Bancassurance will become a more important channel for insurers as banks expand their branch network, she said.

The company's sales through bancassurance have increased gradually and are projected at Bt100 million this year. Sales from this channel are targeted to grow to 10 per cent by the end of this year and to 20 per cent within two to three years.

The company's total premiums generated from marketing channels other than bancassurance, including its agents and branches, which are a key distribution channel, account for 35 per cent. This is followed by corporate direct at 12 per cent, brokers 12 per cent, telesales 10 per cent, financial institutions 10 per cent and financial dealers 6-7 per cent.

Thai Insurance has a base of 100,000 policyholders, of whom retail customers account for 80 per cent. In terms of insurance premiums, retail and corporate customers are balanced.

Bancassurance will soon become its distribution channel for car insurance.

Car insurance premiums account for 56 per cent and non-car for 44 per cent; non-car insurance comprises fire insurance at 22 per cent, personal accident 10 per cent, and industrial all-risk insurance and SME insurance the rest.

Thai Insurance's total premiums this year are expected to jump by 26 per cent to Bt1.3 billion, divided into 80 per cent renewal premiums and 20-per-cent first-year premiums.

In the first half, the company's income from insurance policies climbed to Bt14 million and from asset investment to Bt27.6 million. Net profit surged by 87 per cent to Bt28.8 million from the same half last year.

The company forecasts achieving Bt60 million in profit from investment this year. It has set a return-on-investment target of at least 5 per cent per year, she added.

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post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
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Coal mining
Banpu ups stakes in Australia, Indonesia
Siriporn Chanjindamanee
The Nation January 21, 2012 1:00 am

Banpu, Thailand's largest coal miner in terms of market value, has budgeted US$600 million (Bt18.9 billion) for investment in Australian and Indonesian operations this year, while insisting that it has no plan to sell its stakes in Chinese mines, citing its need for higher added value.


Chief financial officer Somrudee Chaimongkol said the $600-million budget would mainly come from its cash flow.

In response to rumours of a planned divestiture of its stakes in Chinese mines after the sale of its interest in the Daning mine in the northeastern province of Shanxi, Somrudee said Banpu had no such plan, as it needed to keep Chinese assets for adding value.

Gaohe mine in Shanxi province will start coal production this year and will be one of cash drivers for the company, apart from its power business in China.

Banpu will focus on developing existing mines in Indonesia and Australia to optimise their production capacity this year. The company's business-development team is considering opportunities for mine acquisition.

Currently, the company has a team in Mongolia on expectation of starting production in the next two or three years. The Mongolian operation is expected to have annual production capacity of 3 million to 5 million tonnes.

Somrudee expects Banpu's revenue to grow 15-20 per cent this year mainly on higher coal production and higher average selling prices. Last year, the company registered Bt100 billion in revenue.

The company forecasts its coal sales at 46 million tonnes this year. About 27 million tonnes of that will come from Indonesian mines, 16 million tonnes from Australian operations and the remaining 3 million tonnes from China.

Banpu has already sold about half of this year's anticipated coal output under forward contracts, with prices averaging more than $100 a tonne. The company's coal sales averaged about $97 a tonne in 2011.

Coal prices are expected to be on a positive trend on higher demand in China and Japan.

Somrudee said Banpu was studying the sale of Bt7 billion to Bt10 billion of bonds in Thailand or overseas this year. The proceeds would lessen its interest burden. The company has debts of about Bt4 billion to Bt5 billion set to fall due this year.

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BAY targets SMEs in bid to boost lending by 11% this year
Sucheera Pinijparakarn
The Nation January 21, 2012 1:00 am

Bank of Ayudhya (BAY) will this year focus on loans to small and medium-sized enterprises, fee-based income and boosting its current account-savings account (CASA) ratio in pursuit of its loan-growth target of 11 per cent.

BAY is optimistic the banking industry will continue to grow.

Expected growth in gross domestic product of 4-5 per cent, post-flood rehabilitation efforts, the policy to increase the monthly salary for government workers and the reduction in the corporate income tax are positive factors for the industry this year.

Negative factors include the expected higher Deposit Protection Agency (DPA) fee, the rising oil price, the floating of the natural-gas price and the poor global economic outlook.

Despite these risks, president and chief executive officer Mark Arnold expressed confidence at a news conference to announce BAY's 2011 results and 2012 business direction that the industry would grow.BAY's net profit in 2011 was Bt9.3 billion, up 5.5 per cent year on year. Loans grew by 13 per cent.

Arnold said the bank projected loan growth this year of 11 per cent, of which a key driver would be SMEs, which are expected to gain from flood-rehabilitation investments by larger private players and the government.

"We estimate loans to SMEs should grow at 2-2.5 percentage points above GDP [growth]. To increase loans, BAY will offer more innovative products and services," he said. Fee income is set to grow by 12 per cent. It slowed to 7.3 per cent in 2011 after the bank waived fees for flood-hit customers.

Net interest margin in 2012 is forecast to decline slightly to 4.4 per cent from 4.5 per cent on the impact of higher DPA fees that banks will be subject to as part of a plan to pay the debt of the Financial Institutions Development Fund.

"The deposit costs will surely be increased and this will have an impact on net interest margin. Therefore, the ratio should fall slightly, and that's why we have to focus on increasing fee income to offset the higher costs of funds," Arnold said.

To ease these costs, BAY plans to increase its CASA ratio to 45 per cent from 43 per cent in 2011.

Kris Chantanotoke, executive vice president, said the bank would gradually cut the proportion of bills of exchange (B/Es) from 20 per cent of overall deposits.

"We might offer B/Es if the gap between B/Es and fixed deposits is wide enough to attract investors," he said.

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post 158 Property
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post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
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CPF adjusts feed-meal business amid changes
Achara Pongvutitham
The Nation January 25, 2012 1:00 am
Charoen Pokphand Foods is having to adapt its feed-meal business to cope with structural change in both the trading and manufacturing culture of the sector, the goal being to manage an integrated business in terms of supply and services.

The strategy will allow CPF to serve farm operators from upstream through to downstream service, as well as in management and marketing, enabling farm owners to sell their output to the company at prices they prefer, said Virachai Ratanabanchuen, executive vice president at the company's Livestock Feed Unit.

In the near future, CPF's income structure will also be changed, with farm business generating one-third and feed meal and food products accounting for the remainder.

In particular, the successful acquisition of Hong Kong-listed company CP Pokphand will help the income contribution from feed-meal business to increase from the current 39 per cent to 54 per cent, he said.

At the same time, income from food business will decline from 18 per cent to 13 per cent, and that from the farm sector from 43 per cent to 33 per cent.

The company's livestock-farming business model has been changed, paving the way for large farms with more than 100,000 chickens in order to assure survival amidst rising production costs.

However, small-scale farmers, whose business depends on market prices, will be gradually phased out, said Virachai.

Moreover, rising demand for alternative energy will lead to higher raw-material costs for feed business. The company is still exploring business opportunities in feed-meal business overseas, said Adirek Sripratak, CPF president and chief executive officer.


Pakistan

It is also negotiating the purchase of a feed-meal company in Pakistan, with a deal likely to be completed in the near future, he said.

However, CPF's business pattern abroad has been designed for step-by-step investment, focusing on establishing feed mill, livestock farming and processing plant operations. Products that are highly competitive will also be exported.

The company yesterday celebrated its latest standard certification, ISO27001:2005, which has been granted to two feed mills in Nakhon Ratchasima.

The certification will allow CPF to keep all feed-meal formulas secret and maintain high standards, said Virachai.

The company also plans to apply for similar certificates for its nine other feed mills, as well as for 26 plants for both livestock and aquacultural meal and 10 food-processing factories.

The executive said feed-meal business had not expanded as strongly as other business areas because of slow growth in the number of livestock. This is because the industry has to balance supply and demand to ensure fair prices for farmers.

For instance, the number of layer hens has increased from 37 million-38 million birds annually in recent decades to just 41.5 million at present. This has resulted in feed-meal trading via dealers and agents coming to an end.

However, direct marketing between feed-meal manufacturers and farm operators is increasing, as the former can serve all kinds of demand, he added.

"Customers will enjoy our services when we send staff to help them develop and manage their farms, besides which they may volunteer to become alliance partners," said Virachai.

CPF operates 11 feed mills in Thailand with a maximum overall capacity of 6.2 million tonnes per year, making it the country's biggest manufacturer of meal.

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Kiatnakin braces for lower profitability
Sucheera Pinijparakarn
The Nation January 25, 2012 1:00 am
Kiatnakin Bank is concerned that the higher premiums banks might have to contribute to the central bank would put downward pressure on its profitability.

President and chief executive officer Tawatchai Sudtikipisan said the bank would play down its fund-raising in the form of bills of exchange, as financial institutions might be required to contribute a percentage of issued B/Es as premiums to the Deposit Protection Agency.

For years, many banks have raised funds by selling B/E products to individuals as an alternative investment with attractive rates higher than those for savings deposits.

Currently, banks must contribute 0.4 per cent of their deposits exclud-ing B/Es to the Bank of Thailand. But it is expected that they will be required to contribute an additional proportion in accordance with the government's policy to raise money to pay off the Bt1.14-trillion debt of the Financial Institutions Development Fund.

Kiatnakin Bank's interest spread last year dropped to 4.3 per cent from 5.2 per cent in the 2010, because of an increase in the cost of funds, and the spread in 2012 might be lower if the DPA contribution is higher. However, the bank will try to maintain its spread at 4.3 per cent, Tawatchai said.

He said the bank predicted that if it were required to contribute 0.4 per cent of its B/E portfolio, this would cost about Bt101 million. If the contribution were 0.5 per cent, the cost would be Bt238 million; 0.6 per cent, Bt375 million; and 1 per cent, Bt922 million.

Kiatnakin Bank has B/Es worth of Bt67.7 billion and deposits of Bt69 billion.

"We believe B/Es will no longer be sold in the market and our B/E portfolio will be replaced by fixed deposits," he said.

Loan growth in 2011 was 26.5 per cent to Bt135.75 billion. However, the higher cost of funds ate into the spread, causing its profit to increase by only 0.7 per cent to Bt2.86 billion.

Tawatchai noted that the bank predicted that non-performing loans (NPLs) this year might increase by 0.3 percentage point to 3.7 per cent because of the flood's impact on some of its clients.

Auto loans are a major segment of the bank's lending portfolio.

"The rise in fuel prices early this year has had an impact on the sentiment of auto buyers apart from the recent flood, and the global economic slowdown could hurt Thai exporters, both of which are of concern to us," he said.

However, the bank is optimistic that the huge investment by the government to restore the country quickly after the flood could boost domestic consumption and activity by small and medium-sized enterprises.

Auto and SME loans could grow, and the bank's business direction will focus more on lending to both segments.

Kiatnakin Bank projects lending growth this year of 21 per cent, with 22-per-cent growth in retail banking including auto loans and 19 per cent in corporate loans including the SME segment.

[schmithi]

post 154 SCNYL
post 155 CPF
post 156 BANPU
post 157 PTTAR
post 158 Property
post 159 TTA
post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
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Property development
L&H to focus on land for 2013 residential projects working for a better debt-to-equity ratio
Somluck Srimalee

The Nation
January 26, 2012 1:00 am
Land & Houses plans to issue debentures worth Bt6 billion, set up a property fund worth Bt3 billion, spend less on projects and improve its debt-to-equity ratio from 0.85 to 0.8 this year.



"Our investment this year will focus only on buying land for developing residential projects next year," Adisorn Thananun-Narapool, senior executive vice president, told a press conference yesterday.

"Our cost of funds also will fall because our debentures worth Bt3.5 billion, with an interest rate of 6 per cent, will expire in July. This will help us to reduce our cost of funds from an average 4.3 per cent to only 4 per cent, because our new debentures will offer an interest rate of only 4 per cent," he said.

Over half of the new debentures worth Bt4 billion would be sold this quarter and the remaining bonds worth Bt2 billion in the third quarter. The property fund will be marketed this first half of the year.

L&H will spend Bt3.5 billion to redeem the debentures due in July and Bt5 billion to acquire land to develop residential projects next year.

This year would see the launch of 16 residential projects worth Bt32.6 billion,

The capital expenditure budget for this year is Bt10 billion less than last year, when it acquired undeveloped land worth Bt5 billion, invested Bt1.8 billion in Land & Houses Bank and opened the Terminal 21 shopping centre.

L&H targets revenue growth of 14.7 per cent from its core business - developing residences for sale - to Bt22 billion this year from Bt19.18 billion last year.

The company's gross profit margin will shrink from an average 32.9 per cent to 31.9 per cent, as construction costs will climb 8-10 per cent above last year. Driving construction costs up are rising energy costs, the hike in the minimum daily wage from Bt215 to Bt300 and inflation in building materials such as cement, steel and decorations.

However, its net profit margin will continue to show double digits, thanks to the cut in the corporate income tax from 30 per cent to 23 per cent and the high performance expected for its rental and investment business this year.

Naporn Soonthornchitcharoen, another senior executive vice president, said 70 per cent net profit would come from residences for sale and 30 per cent from the investment business, which generates dividend income.

"Our rental income from the shopping centre, Terminal 21, is still not much for our business. The rental business will show high returns in three or five years," he said.

Real estate remains the company's core business although this year the market will continue to feel the impact from the flood crisis, as people are delaying their decision to buy a home. But the market should recover in the second half.

L&H will introduce only two residential projects this quarter. The other 14 projects will be spread out in the rest of this year. Four will be located upcountry - Chiang Mai, Nakhon Ratchasima, Phuket and Khon Kaen.

"We believe that the property market this year will better than last year, which faced the flood in the last quarter," he said.

In the first 11 months of last year, only 77,351 new residences were registered in Greater Bangkok, down 20.2 per cent from 96,938 units in the same period of the previous year, he said.

Of the new units last year, 18,986 were built by the landowner, down 8 per cent from 20,637 units, and 58,365 were developed by property firms, down 23.5 per cent from 76,301 units.

[schmithi]

post 154 SCNYL
post 155 CPF
post 156 BANPU
post 157 PTTAR
post 158 Property
post 159 TTA
post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN

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LPN plans 16 new projects this year
SOMLUCK SRIMALEE
THE NATION
Pattaya
January 30, 2012 1:00 am
LPN Development has set aside Bt3 billion to buy undeveloped land this year to launch 16 new residential projects worth Bt17.5 billion.
This will boost its pre-sales revenue to Bt16 billion, up 14 per cent from Bt14.2 billion last year. Total revenue will rise to Bt13.2 billion this year, up 10 per cent from Bt12 billion last year, the company's managing director, Opas Sripayak, said at a press conference after the grand opening of its third condominium project in Pattaya last week.

Half of the investment budget will come from the company's cash flow and the rest will be borrowed. The company has a debt-to-equity ratio of only 0.5:1, and has more room to borrow from banks to serve its business expansion this year.

Currently, the company has a backlog of Bt14 billion - Bt11.5 billion will be added to the company's revenue this year and Bt2.5 billion will accrue in 2013.

Five of 16 new residential projects launched this year, worth totally Bt1.5 billion, will be townhouse projects. This is the first time after the 1997 economic crisis that the company is developing townhouses for sale. One of five is ready for presale: the Lumpini Town Place Ratchayothin-Sena, worth Bt400 million, has only 71 units with prices starting at Bt4.5 million per unit. The next one, Lumpini Town Residence, will open for presale in February, with prices starting at Bt9 million per unit. This project has only 46 units. The other three projects will be launched in the second half of this year, developed by its subsidiary - Pornsanti Co - in which LPN Development holds a 100-per-cent stake.

Meanwhile, the next 11 projects worth Bt16 billion will be condominium projects, three of them located at beach destinations - Pattaya, Hua Hin, and Chon Buri. The other eight projects will be in Bangkok -Sukhumvit 77, Sukhumvit 109, Sukumvit road, Bang Na, Ratchayothin, Rattanathibeth, Ramkhamhaeng, and Ratchaburana.

The company is also launching its innovative condominium project under the concept of Value Creator. It is developing a part of its condominium project Lumpini Ville Naklian-Wong Amart - from fourth to sixth floors - as condominiums for senior members aged over 50. It is aimed at serving the demand of senior people. The rest of the project targets working people and children.

"This is our new model for the business in the future - creating valuation for our business by catering to people of all ages in a family under the concept of mixed target development. If our pilot project succeeds in Pattaya, we will launch the same concept in our other projects," he said.

Opas said the company believes the demand to buy condominiums has continued to grow after the floods hit Bangkok and its suburbs last year. Some who have purchasing power will buy a condominium to be their second home to move their family when hit by floods. Some have also changed their idea of buying a low-rise residence due to the fear of natural disasters.

[schmithi]

post 154 SCNYL
post 155 CPF
post 156 BANPU
post 157 PTTAR
post 158 Property
post 159 TTA
post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
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KBank banks on Asean alliances ahead of AEC
Sucheera Pinijparakarn
The Nation February 1, 2012 1:00 am
Strategy set to facilitate two-way investments

With the Asean Economic Community coming in three years, Kasikornbank has changed its strategy to form more alliances with banks in the region and focus more on the provinces instead of Bangkok to cash in on booming border trade.

Somkiat Sirichatchai, senior executive vice president, said yesterday that nobody could predict the AEC's impact on his or her business, but everyone should prepare to serve the single market.

Under the challenge of the AEC, KBank has set a strategy called "Asean Alliance" by joining with bank allies in Asia and Asean to serve Thai investors that plan to expand overseas and foreign investors that plan to penetrate Thailand.

KBank and regional banks in Japan and South Korea have developed financial services for Thai, Japanese and Korean customers operating here and in those countries.

Last year, KBank succeeded in increasing its share of the local Japanese lending market to 13 per cent from 12 per cent.

KBank has 19 Japanese and two South Korean regional bank partners.

KBank will link up with banks in countries in Asean where Thai businesses are becoming more active, such as Vietnam, Indonesia and Burma. KBank and its bank allies will co-develop services and design financial products to match up with their customers' requirements, Somkiat said.

It will also establish representative offices in Asean countries to support the trade and investment of Thai companies and regional bank customers.

KBank has seven bank partners in four Asean countries - Vietnam, Indonesia, Singapore and Laos.

In China, KBank has established a branch in Shenzhen with the cooperation of Minsheng Bank, a local bank, to provide yuan loans to Chinese small and medium-sized enterprises. The Chinese government is satisfied with KBank's services and has allowed it to add more branches in that country, he said.

The bank will open two branches in China this year to boost its loans there to Bt10 billion from Bt4 billion last year.

The bank projects its Chinese SME loans surging to Bt100 billion within five years.

The alliances will help strengthen KBank's product offerings and enable it to cover the full needs of customers, Somkiat said.

Krisada Lamsam, another senior executive vice president, said the AEC had also changed KBank's mindset towards its home base.

"We used to give more weight to Bangkok because it is the centre of business, but the arrival of the AEC prompts all businesses to look at border trade," he said. "The mindset on doing business must give more importance to the rest of the country, not only Bangkok, because the provinces represent the whole of the country and the route to cross borders rather than Bangkok."

The driver of the bank's loan growth target of 9-11 per cent this year is the provincial market, not the capital, he said.

The loan portfolio sources 48 per cent from Bangkok and 52 per cent from elsewhere in the country.

The bank will target business customers in large cities in three industries - tourism, manufacturing and agriculture, Krisada said. It will also pursue individuals working in the three industries to persuade them to use KBank as their main bank.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

PTTEP sets sights on fuel in Lebanon
Petchanet Pratruangkrai
The Nation February 1, 2012 1:00 am
PTT Exploration and Production yesterday confirmed reports that it plans to explore for energy resources in Lebanon.

PTTEP president and chief executive officer Anon Sirisaengtaksin said countries on the Mediterranean constituted one of the firm's strategic locations for pursuing exploration and production (E&P) business.

The company is conducting a geological study of Lebanon's resources, Anon said. It might ask the Lebanese government for permission to send a team to explore the country after the study is complete.

Anon's comments follow recent remarks by fugitive former prime minister Thaksin Shinawatra that he had spoken with Lebanese officials to pave the way for PTT to conduct exploration in that country and cooperate with the government there to promote growth in the energy sector.

Anon said the company had conducted studies aimed at promoting E&P businesses in many countries deemed to have high energy potential, including Lebanon and other countries in the eastern Mediterranean, as well as in East Africa.

He said it was normal for the Thai government to support the company's exploration efforts and offshore business activities. PTTEP is willing to cooperate with the government - or any person involved with the government - who helps the company in order to promote Thailand's energy industry, the CEO said.

Meanwhile PTTEP, in cooperation with the Meechai Virivaidya Foundation and Business for Rural Education and Development (BREAD), yesterday introduced a new brand of packaged rice, School Rice, designed to promote farmers' incomes and benefit society.

Anon said the School Rice brand was part of PTTEP's corporate social responsibility activities to benefit rural people. The company has provided Bt16 million to fund research on the development of environmentally friendly rice-planting methods.

Meechai, a founder of BREAD, said that by purchasing this rice, consumers could help society, as the company will donate profits to schools and rural people.

School Rice will be sold at 102 branches of Tops Supermarket, or consumers can directly order at www.bread.co.th.

PTTEP's sales revenue grew 25 per cent in 2011 thanks to a higher petroleum price and increased sales volume.

An independent study by IHS CERA showed that the average price of benchmark Brent crude was US$111 for the year, well above the previous high of $97 in 2008. This is the highest average annual oil price since 1860.

As revenue rose from $4.5 billion in 2010 to $5.69 billion, its net profit rose from $1.38 billion to $1.47 billion. In baht terms, net profit hit Bt44.7 billion, up from Bt43.77 billion a year earlier.

The company has proposed a dividend payment of Bt2.79 for the second-half performance, on top of the Bt2.61 interim dividend paid earlier.

During 2011, PTTEP booked losses from fires at its Montara site in the Timor Sea off Western Australia. Its foreign-exchange loss was down for the year.

[schmithi]

post 154 SCNYL
post 155 CPF
post 156 BANPU
post 157 PTTAR
post 158 Property
post 159 TTA
post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
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Food export to China to rise
The Nation February 3, 2012 1:00 am
China's imports of Thai food products will rise 14.3 per cent to US$2.1 billion (Bt65 billion) this year, according to Kasikorn Research Centre.

Although China is the world's fourth-largest food exporter after the European Union, the United States and Canada, it will need to increase its food imports for several reasons, KResearch said in a report.

China faces limits in arable land, a growing population, changing consumer behaviour as a result of rising disposable income, and a surging urban populace.

Thailand, as an important food exporter, has the potential to expand food production to meet growing demand there. Thailand has, however, typically sustained a trade deficit in food with China, which reached $130 million last year.

Food categories that will excel are tropical fruit, tapioca flour and rice. Exports of tropical fruit in particular will likely benefit from China's rapid economic growth and soaring prosperity, especially in western inland provinces and on the Pacific coast.

Transport networks linking Thailand with southern China are also improving.

China's requirements for cassava flour and its processed forms remain strong because of insufficient domestic production.

Thai rice exports - especially Hom Mali fragrant rice - will continue to do well in China, thanks to demand from gourmet restaurants, hotels and affluent consumers.

However, Thailand must solve the problem of adulterated rice.

Thai exporters need to be vigilant towards rising competition in many food categories from Asean rivals, such as Vietnam, Malaysia, Indonesia and the Philippines.

Thailand will also have to compete with local Chinese products because they are improving both in quantity and quality. Thai exporters wanting a place in the Chinese market are advised to promote their quality over rivals'.

Looking ahead, Thailand has the potential to export many high-value products to China, such as processed food products, shrimp products including processed shrimp, seasonings and ready-to-eat foods.

Processed food products include canned fish, sugar and canned fruit.

Exporters entering the Chinese market should study consumer behaviour - buying habits and lifestyles - in the destination regions there.

Last but not least, they should forge business alliances and find effective distribution channels to better consumers

[schmithi]

post 154 SCNYL
post 155 CPF
post 156 BANPU
post 157 PTTAR
post 158 Property
post 159 TTA
post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
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IVL 'on course' to achieving target by 2014; eyeing more acquisitions
NALIN VIBOONCHART
THE NATION
Jakarta, Indonesia February 6, 2012 1:00 am
Indorama Ventures, the world's largest integrated polyester chain manufacturer, has no plan to slow down its acquisitions or investment in green-field projects even though it is likely to exceed its production capacity target in three years.
"To have a combined capacity of PTA, PET and polyester exceeding the target of 10 million tonnes by 2014 is not our problem after we said we're investing US$700 million (Bt21.7 billion) for PTA, PET and polyester plants in India. Whether we'll adjust the target depends on the updated capacity by the end of this year," CEO Aloke Lohia said.

PTA stands for purified telephthalic acid and PET for polyethylene terephthalate.

Lohia was speaking last week on the sidelines of IVL's annual conference, which gathered all executives of the company's subsidiaries worldwide to update them on the status of the petrochemical industry and economic situation and to discuss the market trend this year.

Since the company in 2010 embarked on an ambitious plan to invest $3.8 billion on mergers and acquisitions (M&A) and green-field projects to raise its production capacity to 10 million tonnes by 2014, it has spent $1.5 billion and achieved capacity of 6.5 million tonnes from its wholly owned companies and joint ventures. It is confident that it can achieve the target by 2014.

IVL's operations in India will go online by 2014 with annual capacity of PTA of 1.2 million tonnes, PET of 500,000 tonnes and polyester of 300,000 tonnes.

The Middle East was the next destination for IVL's polyester chain plants. The plant under consideration in a Middle Eastern country will produce only PTA and PET with the same capacity and investment as the Indian facilities. The company expects to finalise the project by the middle of this year.

"We expect to have 7.5 million tonnes by the end of this year. If we can have manufacturing in the Middle East in addition to the certain capacity in India, we're likely to have more than 11 million tonnes by 2014," he said.

The company will keep an eye open for opportunities in the markets where the demand for PET and polyester to produce water bottles and garments is growing. Despite the economic uncertainty in Europe, where IVL acquired some polyester companies like Trevira, IVL is still confident that the nature of consumer-driven products like bottled water and apparel will boost its growth.

IVL would expand both upstream and downstream in the polyester chain. The company's strategy is to acquire through M&A assets in speciality markets, which are for downstream petrochemicals. Then it will invest in green-field projects for upstream markets, which are the PTA and PET products, to ensure enough supply for the downstream businesses. This strategy will give IVL competitive operating costs and coverage of the whole chain for polyester and PET.

IVL expects revenue to climb to $8 billion this year from about $6 billion last year.

The company also wants to diversify into biochemicals, which may be the next phase of its investment after 2014. The talks between IVL and Netherlands-based Purac to develop a polylactic acid plant in Thailand with capacity of 10,000 tonnes per year is at an advanced stage. It is a good step for developing biochemicals soon, he added.

[schmithi]

post 154 SCNYL
post 155 CPF
post 156 BANPU
post 157 PTTAR
post 158 Property
post 159 TTA
post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
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PTTEP eyeing Burma, Cambodia
Watcharapong Thongrung
The Nation February 8, 2012 1:00 am
PTT Exploration and Production (PTTEP) sees opportunities for growth in Burma and Cambodia, said Anon Sirisaengtaksin, the firm's president and chief executive officer.

He said this yesterday at the International Petroleum Technology Conference (IPTC), hosted this year by Thailand. The seminar, which began yesterday, is a forum for businesses to exchange knowledge on the development of petroleum exploration and production technology. Given the decline in petroleum sources worldwide, new technology is needed to explore potential new sources.

Burma has high potential for petroleum production, Anon said. PTTEP has long invested in petroleum exploration and production in the country, and will soon be granted concessions to explore two more fields there.

PTTEP is investing US$2 billion (Bt62 billion) from 2011 to 2013 to build an oil rig and to produce petroleum in Burma's M9 field, and to install a 300-kilometre-long natural-gas pipeline to link the site with its existing pipelines in Kanchana-buri. Starting next year, this will enable it to deliver 240 million cubic feet per day of natural gas to Thailand and another 60 million cubic feet per day to Burma.

The company is also waiting for the government to complete negotiations with Cambodia on the countries' overlapping maritime claims. Anon said PTTEP would spend Bt600 billion to expand petroleum exploration and production business in Asean, Australia, Africa and North America.

Pailin Chuchottaworn, president and chief executive officer of PTT, said of PTT Group's overseas investments between 2012 and 2016, 50 per cent would be conducted by PTTEP, with priority given to upstream businesses.

PTT Group has investments in all Asean countries and East Timor.

Cambodian Deputy Prime Minister Sok An is attending the IPTC seminar and will visit PTT's gas-separation plant in Map Ta Phut, Rayong.

Pailin added that if the two countries could solve their overlapping maritime claims, it would bring tremendous benefits to both countries, and give Thailand access to a new petroleum source.

[schmithi]

post 154 SCNYL
post 155 CPF
post 156 BANPU
post 157 PTTAR
post 158 Property
post 159 TTA
post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
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SECURITIES TRADING
KBank links with Australian group
SUCHEERA PINIJPARAKARN
THE NATION February 11, 2012 1:00 am

Tightening business cooperation with allies is a key strategy for the financial sector to brace for the coming Asean connectivity, Kasi-kornbank president and chief executive officer Banthoon Lamsam said yesterday.
KBank yesterday signed an exclusive strategic alliance agreement with Macquarie Group, Australia's No 1 investment bankers. They will cooperate in the financial and securities business and join hands in providing research studies to local investors and brokerages. The alliance will boost their combined market share of securities trading to the top two.

Banthoon said the bank would focus more on cross-border investment banking and securities operations in Asean countries. It will target medium-sized rather than large companies as clients, as the medium-sized ones still need information and financial consultants if they want to invest abroad while the large ones could explore outside the country by themselves.

He pointed out that Thai banks are unable to beat their main rivals from Malaysia and Singapore ahead of the upcoming AEC. Thai banks need to combine with strategic allies to ensure clients will gain most benefit from the services.

" The AEC is our focus as we look at many opportunities from the opening of the Asean market. However, we cannot go it alone as Thai banks are smaller than banks in Malaysia or Singa-pore. Having a strategic partner is the key to help KBank have an advantage in the arena," he said.

According to the first part of the agreement, KBank's subsidiary Kasi-korn Securities and Macquarie's subsidiary Macquarie Securities (Thai-land) will jointly provide researches, investment banking financial services, and brokerage services through KBank's securities arm, Kasikorn Securities (KSecurities). In the next stage, they will extend their cooperation to derivative products and business in private banking and the debt capital market.

"The cooperation would also encourage KBank to acquire securities businesses in Asean in the near future," he added. Under the agreement, Kasikorn Securities will change its symbol from "KSEC" to "KS-MACQ, effective from Monday. Macquarie Securities will send all of its securities orders to KS-MACQ and the brokerage income will be under revenue |sharing.

Nattharin Talthong, executive chairman, said that currently, KSecuri-ties had a market share of 3.29 per cent, and is ranked 13th in the local brokerage market, while Macquarie Securities (Thailand)'s brokerage trading has a 3.20-per-cent share of the market, and ranks 14th. After joining hands, they would have a combined market share of 6.49 per cent, jumping to second-largest in the market.

She said research was a high cost for brokerage operations and many houses had cut this cost in a bid to prepare for financial liberalisation. Yet KSecurities considers research important for clients. Macquarie's global insights will help add value to researches for investors to base their decisions on, she added.

KS-Macquarie's client coverage in financial and capital services will account for as much as 85 per cent of total market capitalisation.

She noted that the results of this agreement in the securities business will be reflected in revenue in 2013, when it estimates revenue growth not less than 30 per cent.

[schmithi]

post 154 SCNYL
post 155 CPF
post 156 BANPU
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post 158 Property
post 159 TTA
post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
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Indorama Ventures focusing on Indonesia
Nalin Viboonchart
The Nation
Jakarta, Indonesia February 13, 2012 1:00 am
Indorama Ventures (IVL), the world's leading integrated polyester-chain manufacturer, expects its recent acquisition of PT SK Keris and PT KS Fibre will double the Indonesian contribution to its revenue to 10 per cent.
IVL's revenue this year is projected to reach US$8 billion (Bt246.88 billion).

"Indonesia is the next China and India. Besides Thailand, our focus in Southeast Asia is Indonesia, and we expect to invest more in the country," group chief executive officer Aloke Lohia said recently.

He said IVL expects to generate revenue of $8 billion this year, of which 10 per cent will be contributed from Indonesia, up from 5 per cent last year. The doubled contribution is attributed to last year's acquisition of PT SK Keris and PT KS Fibre, which manufacture yarn, polyester and polyethylene terephthalate (PET).

IVL acquired both companies from SK Syntec, a subsidiary of South Korea-based SK Chemicals. PT SK Keris has been renamed PT Indorama Ventures Indonesia, while SK Syntec has become PT Indorama Polyester Industries. The former has production capacity of PET, polyester and yarn of 160,000 tonnes per annum, and the latter has fibre and polyester capacity of 36,000 tonnes per year.

Lohia said PT Indorama Ventures Indonesia is increasing its capacity to produce polyester by 300,000 tonnes per annum at an investment cost of $200 million.

"We will not stop looking for new projects in Indonesia," he said.

Indonesia is one of the biggest markets for textiles. In 2012, the country expects to export textiles worth $13 billion. The Indonesia Textile Association forecasts that demand in the domestic market will grow rapidly to account for 50 per cent of output this year from 40 per cent in 2011.

IVL recently announced it would acquire a 100-per-cent stake in Old World Industries 1 and Old World Transportation, which together comprise the US' largest manufacturer of ethylene oxide and ethylene glycol, with a transaction value of $795 million. The units of Old World Industries, which is located in Texas, have ethylene oxide capacity of 435,000 tonnes per annum. The transaction is expected to be complete in the first quarter of this year.

IVL is in the process of constructing a $700-million manufacturing plant to produce PET, purified terephthalate acid (PTA) and polyester in India, and plans an additional plant for making PTA and PET with a similar investment size in the country.

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post 158 Property
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post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
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TTW puts aside BT20 BN for 5-year project on Green energy
CHULARAT SAENGPASSA
THE NATION
Vientiane February 14, 2012 1:00 am
Thai Tap Water Supply (TTW) has earmarked Bt20 billion for a five-year project, which will emphasise green energy.
According to TTW's managing director Sompodh Sripoom, Bt2.73 billion would be invested in the Nam Ngum 2 hydropower project, with the payment due next month. The 30-per-cent stake in CK Power, a unit of Ch Karnchang (CK) that operates South-east Asia Energy (SEAN) and its Nam Ngum 2 hydroelectric plant in Laos, would cost Bt2.76 billion in total. The investment in CK Power, which has been entirely financed by a bank loan, marks the company's first investment in the power sector and its first project outside Thailand.

"The investment would immediately boost our net profit by Bt190 million this year," he said, adding that the company would seek growth from energy projects in light of saturated demand for tap water.

"We want to grow our earnings by more than 7 to 8 per cent per annum. So far, the growth rate has been too small. Our study, based on overseas companies' experiences, shows that if we operate in the water business and invest more in energy projects, our earnings could grow by 15 per cent per annum on |average in the next five years," Sompodh said.

He explained that diversification would also help cut down on risks. At present, it supplies 95 per cent of tap water under a concession from the Provincial Waterworks Authority and the rest to clients in the Bang Pa-in Industrial Estate. Such concentration poses a business risk.

After the huge investment, annual investment in the fifth year is expected to increase from Bt4.8 billion to Bt7.8 billion.

Aside from CK Power, TTW is also planning to invest in small alternative-energy projects with a capacity of less than 10 megawatts. Energy projects of this size will supply power to the Provincial Electricity Authority and will be subject to fewer regulations than ones with capacity of more than 10MW.

Sompodh added that the company was also interested in solar power.

"The problem now is that the Energy Ministry has received a large number of investment applications.

The purchase quota is full. We will need to wait until the ministry runs a check on the applicants and takes back the quota from those who are not serious about the investment," he said.

Aside from solar power, TTW is also eyeing wind and biomass projects.

TTW's management recently revealed to stock analysts that it aims to purchase 25-year rights to operate and manage treated water and wastewater services - a deal that should be sealed by the second quarter of this year.

Somkiat Pattamamongkolchai, TTW's accounting and finance director, said the company would finance the investment through bank loans and bond issuance. It will issue Bt3.5-billion refinancing bonds on February 20 and 21.

Bualuang Securities said recently that it expected investment in CK Power and the 25-year water-treatment management rights to add 3 to 4 per cent to its earnings for 2012-2013. The house forecasts its 2012 earnings at Bt2.15 billion or Bt0.54 per share. Last year, it earned Bt2.11 billion in net profits.

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post 155 CPF
post 156 BANPU
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post 158 Property
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post 160 TOP
post 161 Export
post 162 TTA
post 163 TTA
post 164 Property (LPN, AP,...)
post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
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Khonburi Sugar to boost output capacity
SIRIPORN CHANJINDAMANEE
THE NATION February 14, 2012 1:00 am
Khonburi Sugar, a listed sugar miller, will increase its production capacity by 2,000 tonnes to 23,000 tonnes per day, expecting income to increase by 5-7 per cent on the back of likely rises in sugar prices.
KBS director Issara Twiltermsup said the company would raise its daily production from 21,000 to 23,000 tonnes this year and to 25,000 tonnes next year. It expects to invest Bt200 million in the expansion, which will be financed through an initial public offering.

This year, sugar prices are on the uptrend, driven by the Thai Cane and Sugar Corporation. Prices could stabilise at 22-25 US cents per pound in 2013. Currently, the price averages 24.75 cents per pound, the highest in history, compared with last year's 22.50 cents.

This year, Issara expects to have 2.8 million tonnes of sugar cane for milling with net profit margin of 13 per cent, close to last year's figure. The company currently focuses on producing white and refined sugar.

KBS is raising its refined-sugar production to 1,200 tonnes per |day from 1,000 tonnes. Its extraction efficiency has also improved, prompting sugar yield of up to 104 per cent from 102.5 per cent.

"Given the higher sugar price, the capacity increase and forward sales for 2013, the company expects to see its revenue grow 5-7 per cent this year. Such an estimate is not high, as growth in the quantity of sugar cane is expected to be flat. What we could do this year is improve machine efficiency for white sugar," Issara said.

KBS forward contracts account for 15 per cent of its production capacity at an average price of 24.50 cents per pound.

Competition is not a concern, as KBS has signed contracts with overseas and domestic customers. It exports 70 per cent of its sugar and distributes the remainder in the Kingdom.

About 80 per cent of its domestic sales have been contracted and the remainder is planned for retail and general customers. More than 90 per cent of its overseas sales have been committed at prices comparable to those of the Thai Cane and Sugar Corp.

KBS plans to expand its power generation from 5 megawatts to 7-10MW with total investment of about Bt500 million. The expansion is expected to be complete in 2014. The electricity will be sold to the Provincial Electricity Authority.

The company has been studying ways to operate an ethanol business, aiming to produce more than 300,000 litres per day. This business would be operated by Khonburi Energy Co.

"We believe [we will have] a clearer picture within five years [for ethanol business]. Investment needs allies. We don't want capital from anyone but we need technology," Issara said.

KBS also plans to produce small cane-harvesting vehicles for commercial purposes with an estimated investment of Bt150 million. The plan is in response to higher demand for such vehicles from neighbouring countries such as Laos and Cambodia. This year, the company will produce between seven and 10 vehicles for internal use and expects to put such products on the market in 2014.

#############################################################################################

Ratchaburi Holding to invest Bt8 billion in 2012
The Nation February 14, 2012 11:55 am
Ratchaburi Electricity Generating Holding Plc is earmarked ot invest Bt8 billion this year, in 13 energy projects in and out of Thailand.

Noppol Milinthanggoon, chief executive officer of Ratch, said that under the investment plan, the company still focuses on three cores businesses comprising of electricity generation, renewable energy and related businesses. The greenfields, brownfields, and merger and acquisition are in the picture.

"To comply with our investment policy, we expect to share at least 25 per cent stake of each venture. We also look at neighbouring countries which shows greater potential in power industry due to economic growth leading to high demand of electricity to develop industry, business and household sectors," he said.


The Bt8 billion would be invested in 13 committed projects, which would boost the company’s generation capacity by 300 megawatt by the end of this year.

With debt to equity ratio at 0.97 times, Ratch is confident that it can raise funds to finance new investment.


In 2011, Ratch successfully added another 858 megawatts installed capacity mainly derived from Nam Ngum 2 Hydroelectric Power Plant in Laos, EDL Generation Plc(EDL-Gen) and RATCH-Australia Corporation Ltd.

In 2011, it reported Bt45.7 billion in revenue and Bt4.84 billion in net profit. It will pay out Bt2.25 per share in dividend, totalling Bt3.26 billion or 67.40 per cent of net profit.

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post 165 Banking
post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
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Delta considers move into auto parts
Siriporn Chanjindamanee
The Nation February 15, 2012 1:00 am
Electronics firm looking at business expansion, diversification overseas

Delta Electronics (Thailand) is considering taking over the operations of foreign auto-parts manufacturers under its business-expansion plan.

Cash-strapped parts makers from the euro zone have approached Delta Electronics about selling their production plants. The company is negotiating details of the possible deals, which would be completed in the second half of this year.

Delta Electronics has to consider how it could smoothly take over the plants and extend its core business from electronic components, director Anusorn Mutaraid said yesterday.

Its huge cash reserve of Bt10 billion has allowed the company to expand into related businesses. Last year it took over two firms, a Swiss solar-cell business and a telecommunications firm in India.

Longer-term, Anusorn said, the company wanted to move the focus of its acquisitions from manufacturing to research and development, particularly in the information-technology sector.

"The acquisition of manufacturing plants needs huge capital, while buying research and development businesses incurs lower cost but creates more profit." Anusorn said such a move would also diversify its business risk - a concern for the company after its plant was submerged last year, causing supply problems.

Nonetheless, the company targets net profit margin of 10-11 per cent this year, up from 6-7 per cent last year.

Anusorn said the company would this year focus on profit growth rather than sales revenue. The growth would be generated in Asean markets such as Cambodia, Indonesia and Malaysia. The firm is currently negotiating export contracts in these countries. This strategy also involves a slowing of exports to European countries and the United States, which currently account for the lion's share of the company's exports.

In addition, investments made in India last year are expected to bear fruit this year, generating outstanding income thanks to rapid growth in the telecommunications industry there. Income from Asian markets is forecast to increase to 20-25 per cent of total sales, while the European market will account for 60 per cent and the US for 15-20 per cent.

DBS Vickers reported that Delta Electronics announced net profit of Bt644 million in the fourth quarter last year, down 5 per cent year on year and 14 per cent quarter on quarter. However, it was a better performance than projected. In addition, the company realised a foreign-exchange profit of Bt63 million.

[ThaiClaus]

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post 166 AOT, TIPCO
post 167 PTT&PTTEP, Banken Q2
post 168 SCC, LH
post 169 SCB
post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
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INSURANCE

SCB Life fixes sights on top three
Published: 20/02/2012 at 03:09 AM Newspaper section: Business
HUA HIN : The SET-listed SCB Life Assurance Plc (SCBLIF), formerly Siam Commercial New York Life, has set a goal to become a top-three firm in terms of premiums by 2014, up from fifth place at present.

To achieve that aim, SCB Life will expand aggressively via multiple channels and seek new business partners, said managing director Vipon Vorasowharid, speaking in the seaside resort town.

"Being part of the SCB Group has solidified our strengths and fundamentals," he said.

"Our performance is strong and continues to exceed industry growth."

SCB Life sees promising prospects this year, projecting total premiums from all distribution channels to grow by 21% year-on-year to 36.6 billion baht, with new sales rising by 26% to 15.2 billion.

Bancassurance remains a key driver and is seen rising by 28%.

The insurer plans to expand a bancassurance new-customer base in all segments including retail, corporations and SMEs.

At the same time, it will boost sales via non-bank channels and new partners such as Group Life, Tesco Lotus and the Bank for Agriculture and Agricultural Cooperatives.

SCB Life plans to diversify by investing 7.5% of its portfolio in equities and property funds for a greater return.

Nonetheless, most of its investments remain in bonds to protect the long-term gains of policyholders, he said.

As of last September, its investment assets were worth 79.1 billion baht.

SCB Life's results exceeded expectations in 2011. New sales from all distributions rose by 30% to 12.5 billion baht.

Bancassurance saw sales of 10.3 billion baht, up by 32%, while special-market business took in 11.1 billion baht, up by 90%.

Renewal premiums rose by 18% to 18.9 billion baht, with total premiums reaching 30.3 billion baht, up by 23%.

"The outstanding performance resulted from a new strategy that helped us reach a greater customer base," said Mr Vipon.

As a result, SCB Life's market share has risen constantly. The Thai Life Assurance Association said the firm has moved to No. 3 from No. 5 in new-business premiums, and its market share rose to 11.6% last year from 9.2%.

It ranked fifth in total premiums with a 9.2% market share, up from 8.3%.

Shares of SCBLIF on the SET closed Friday at 444 baht, down four baht, in light trade worth 377,000 baht.

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post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
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Egco to invest Bt10 bn to keep revenue level coalmines,large power producers, wind/solar farmsin group's radar.
Watcharapong Thongrung

The Nation February 23, 2012 1:00 am
Egco Group has set aside about Bt10 billion to invest in power plants overseas in a bid to keep its revenue at least at the Bt5 billion level annually.

"Egco is in talks with about 10 wind and solar farms that are either under construction or are nearly completed so that the company can book any revenue from these farms this year," Sahust Pratuknukul, president of Electricity Generating Plc, said yesterday.

About Bt7 billion of the total capital expenditure budget would be spent on acquiring mid-sized coal mining businesses in Indonesia and large independent power producers in foreign countries.

The company is conducting a feasibility study on expanding the Quezon power plant in the Philippines and the Nam Thuen hydropower plant in Laos.

On the domestic front, the company plans to acquire a biodiesel refinery with the capacity of 200,000-300,000 litres per day as well as wind and solar farms with the capacity of 6-8 megawatts per year.

Last year, the company succeeded in building its stake in the Quezon power plant to 52.13 per cent from 26.13 per cent.

TJ Cogen, TP Cogen and SK Cogen, which are joint venture power plants of Ecgo Group, won contracts on November 25 from |the Electricity Generating Authority of Thailand (Egat) to provide the utility 90MW each for 25 years.

The solar farm project in Lop Buri, which is 33.33 per cent owned by Egco, reached commercial operation and started supplying 8MWs in the first phase to the grid in December. The plant is expected to run at its full capacity of 55MWs this quarter.

The company has taken a 12.50-per-cent stake in Xayaburi Hydropower Co in Laos and has a contract with Egat to sell it 1.22GWs. The power plant is expected to go on stream in January 2019.

The company has acquired |90 per cent of Theppana Wind Farm in Chaiyaphum and 99.99 per cent of the SPP Four solar |farm with capacity of 6MWs in |the overlapping area of Si Sa Ket and Ubon Ratchathani. The solar plant has operated since last month.

Egco Group has a total of 16 operating power plants, representing capacity of 4.44GWs. Out of the purchase and sales contracts with Egat for 3.86GWs, 12 per cent were won by Ecgo Group.

The company could achieve its revenue target for last year, showing Bt5.3 billion in revenue before foreign-exchange adjustments, down Bt963 million from the year earlier.

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CPF sales continue to reach new heights
Siriporn Chanjindamanee

The Nation
February 23, 2012 1:00 am
Charoen Pokphand Foods expects sales revenue this year to pass Bt300 billion, then double to Bt600 billion within five years, thanks to rising demand from overseas markets.
Chief executive officer Adirek Sripratak said CPF forecast sales of Bt300 billion this year, up by more than 50 per cent from last year. The projected growth is in line with expanded investment in China and Vietnam.

The company is also pursuing sustainable business growth by focusing on foods and value-added products and is seeking opportunities to invest in many countries. It now has a presence in 12 countries, including India, Malaysia and Russia as well as Vietnam and China.

In Thailand, the food business is still CPF's main driver of growth, especially its ready-to-eat products under the CP brand. As for exports, it expects 20-per-cent growth this year.

CPF net-profit growth has averaged 88 per cent annually during the past five years. Last year its net was Bt15.837 billion.

Because of its continued overseas business expansion and the growth of the food business, CPF forecasts that its total sales value in five years will exceed Bt600 billion, of which 60 per cent will be contributed by the overseas markets.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
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Banpu's 5-yr expenditure
NALIN VIBOONCHART
THE NATION February 25, 2012 1:00 am
Banpu, Thailand's largest coal miner, has revised upwards its capital-expenditure forecast for 2011-15 to US$1.75 billion (Bt53 billion) from $670 million, mainly on new investments in Australia's Centennial Coal and in Mongolia.

The company's previous five-year plan did not include the operations in Australia and Mongolia, new coal mines that Banpu acquired in 2011, chief executive officer Chanin Vongkusolkit said yesterday. The bulk of the investment-budget increase is for coal-mine development in those two countries and Indonesia.

Chanin said the company had set aside $600 million for the production in Australia, of which $400 million was targeted to increase production capacity to 4.3 million tonnes by 2014. The budget for developing coal mines in Mongolia is $400 million.

He said the investment budget for Indonesia, Thailand, Laos and China had been increased to $750 million from $466 million. The new investment budget in Indonesia will be $372 million. Operations in Thailand and in Laos - where the company is constructing the Hongsa power plant project - will require investment of $343 million until 2015, while the investment in China is worth $35 million.

Banpu's coal-production volume by 2015 will be 60 million tonnes - 30 million tonnes from Indonesia, 20 million from Australia and 5 million each from China and Mongolia, he added.

Chanin said the company targeted coal-production volume this year of 47.7 million tonnes from the operations in Indonesia, Australia, China and Mongolia. Of this, 27 million tonnes will come from mines in Indonesia, 16.7 million tonnes from Australia, 3 million tonnes from China, and 1 million tonnes from Mongolia.

Contracts have already been secured for 87 per cent of the targeted coal production in Indonesia. Of these, 51 per cent have been priced already, 31 per cent are floated in accordance with the price index at delivery, and 6 per cent is unpriced. Contracts are secured for about 72 per cent of targeted production in Australia's Centennial Coal. Of these, 36 per cent already have fixed selling prices, 20 per cent depend on the index price, and 16 per cent is unpriced.

"We aim for revenue growth of 15 per cent to Bt130 billion in 2012," he said.

Chanin said the company this year would gradually increase the proportion of exports to total coal production at Centennial. In 2011, the export proportion rose to 39 per cent from 34 per cent in 2010. In terms of sales revenue, exports contributed 60 per cent of total sales, rising from 50 per cent in 2010.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

2011 THAI profit falls by Bt10 bn
BAMRUNG AMNATCHAROENRIT
THE NATION
February 25, 2012 1:00 am
Thai Airways International (THAI) reported a Bt10.19-billion decline in profit last year compared to 2010, according to its filing to the Stock Exchange of Thailand yesterday.
In 2010, the firm earned a healthy profit of Bt14.74 billion.

However, THAI chairman Ampon Kittiampon was optimistic about its business performance in the first quarter of this year, which he said would be driven by rising cabin factor and bookings.

Cabin factor - the percentage of passenger seats sold - was 77 per cent last month, similar to the same period last year. In December, the figure was 68.1. The increase was attributed to growth in cabin factor on routes to Europe (from 67.7 to 85.2 per cent), North America (from 72 to 79.1 per cent) and to Australia and New Zealand (from 71.8 to 77.7 per cent).

Its booking rate is expected to be almost 80 per cent during March and April, Ampon Kittiampon said after a meeting of the board of directors yesterday.

He said it was a clear sign that THAI was on a recovery path after being hit by floods at the end of last year. Also, the firm has secured its fuel costs through hedging in the third quarter of last year.

The board also agreed to discharge 11 ageing aeroplanes this year and 14 next year. Through next year, the company will take delivery of 25 new aeroplanes.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
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PTTEP offers 1.1 billion pounds for UK-based Cove Energy
NALIN VIBOONCHART
THE NATION February 27, 2012 1:00 am
PTT Exploration and Production (PTTEP) has offered 1.12 billion pounds (Bt53.37 billion) to acquire all shares in Cove Energy, a UK-based petroleum exploration and production firm, in a bid to develop oil and gas projects in East Africa, one of the company's strategic locations.
PTTEP's bid tops an offer by Royal Dutch Shell to pay 992.4 million pounds or 195 pence per share for Cove, which has recently proven a natural gas exploration site in Mozambique.

If PTTEP can secure Cove, it will be the company's second-largest purchase after it acquired a 40-per-cent stake in Kai Kos Dehseh oil sands project in Canada from Statoil Canada with US$2.28 billion (about Bt69 billion) in late 2010.

President and CEO Anon Sirisaengtaksin said PTTEP had submitted the offer to Cove to pay 220 pence per share or 1.12 billion pounds in total. The offer is just an announcement of its intention to buy Cove - the British firm has so far not agreed to any offers from bidders. There are many processes left before the deal is done.

Anon said the PTTEP proposal was subject to three conditions: a unanimous recommendation from Cove's board of directors without any conditions; hard irrevocable support from Cove's board for the offer; and consent from Mozambique's Minister of Mineral Resources for the exploration and production in the Rovuma project. Cove holds an 8.5-per-cent stake in Rovuma.

PTTEP has submitted its offer to Mozambique's Mineral Resources Ministry for approval. Cove's board will consider this and the other offer and recommend one to its shareholders.

Other E&P (exploration and production) players recently named as interested in Cove are Korea National Oil Corp and China National Offshore Oil Corporation. They can still propose offers.

"It is uncertain whether or not we will win the deal, but we have strong intention to develop an oil and gas project in East Africa," Anon said. "Consent from the Mozambi-que government is the important key factor for the deal."

"We have explored the opportunities and studied potential projects in East Africa for a while. East Africa has abundant resources of good quality natural gas. One area that can provide world-class natural gas is Mozambique. We've been in the E&P industry for more than 30 years and our experience will help Mozambique develop this industry," Anon said.

Rovuma Area 1, in which Cove holds an 8.5-per-cent stake, is forecast to have 15-30 trillion cubic feet of gas reserves.

Anon said the natural gas in that site was expected to have crude oil reserves as well. PTTEP aimed to develop the site to serve domestic demand and supply to Asian countries. Funds for this would come from the company's cash flow and loans. PTTEP did not have a plan at present to increase its registered capital for the sake of mobilising funds.

"Our cash is enough for the deal," he said.

Besides Rovuma Area 1, which is an offshore project, Cove also holds a 10-per-cent stake in the Rovuma onshore area, and a 10- to 25-per-cent interest in seven deepwater offshore blocks in Kenya, but exploration processes in these had not finished yet.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Energy giant PTT becomes a target in political rivalry
February 27, 2012 1:00 am
The opposition Democrat Party has stepped forward to warn the public to keep a close watch on whether the Pheu Thai Party plans to 'suck blood' from PTT because politicians believe that the energy giant is their treasure trove, writes Watcharapong Thongrung.

The Democrat Party recently caused some fuss by pointing out that Thai Consultant and Public Relations had been selected to manage public relations for 17 PTT projects. It is a small example of criticism in which the Democrats want the public to investigate whether ousted prime minister Thaksin Shinawatra is eyeing the energy giant's enterprises.

In addition, PTT has come under pressure on whether it practises good governance as promoted.

It is very common for large companies like PTT to throw some big projects to other firms. But the Democrat Party revealed that Thai Consultant and Public Relations had close relations with Deputy Agriculture Minister Natthawut Saikua, as one of its shareholders.

As Thais direct more criticism towards this state-run enterprise, it puts more pressure on concerned government agencies to verify the transparency of PTT's procurements.

Because of the Democrat Party's revelations, PTT has been widely criticised for monopolising the country's energy sector with unreasonably high costs, and ignoring the needs of Thai people to generate massive profits.

The company's annual public relations budget of Bt1 billion, the opposition says, is a lure for "bloodsucking" politicians.

It may be normal that Thai Consultant won a few projects from PTT. On the other hand, the company has managed public relations for 17 PTT pipeline-construction projects.

Although each pipeline project costs about Bt10 million, the Democrat Party warned the public to focus on PTT's total investment, which is set at about Bt91 billion this year. This will allow politicians to reap more benefits from investments by the Kingdom's oil giant every time, it claims.

PTT has been kept in spotlight over interventions by politicians in the coalition government. The company is closely involved in fuel-price restructuring, which directly affects consumers of natural gas for vehicles and liquefied petroleum gas.

However, PTT has been one of the major donors to flood-relief activities since the disaster last year, contributing Bt1 billion towards recovery efforts.

Moreover, the government of Prime Minister Yingluck Shinawatra has raised the idea of privatising PTT by selling a 2-per-cent stake, to expand investment in a foreign country where Thaksin has business interests. The Democrat Party has urged Thais to monitor PTT closely, not only its management, but also its procurement in all activities and investment.

Thaksin has had investment interests in the energy sector for years since the US-based company Chevron won an exploration concession in Cambodia. That business appears to be still in his mind as he foresees making a huge profit in the long run.

Meanwhile in the latest Cabinet reshuffle, Arak Chontaranont was appointed as the new energy minister. He worked closely with Thaksin in the Shin Group.

Arak's three priority jobs are to consider energy-price structures to calm public protest over the increasing cost of living, to negotiate with neighbouring countries including Cambodia and Burma on potential shared oil-drilling areas, and to encourage PTT to expand its investment overseas, particularly in those two countries.

As a listed company, PTT has been closely monitored by concerned agencies such as the Office of the Auditor-General and the Securities and Exchange Commission so that it will not affect investors' confidence. Moreover, the awards granted by many international authorities have highlighted PTT's good management.

The company is also considering setting up a special task force to provide correct information to the public so they have a better understanding of PTT's performance in the areas of business and politics.

So far, PTT has been a victim of both the Pheu Thai and Democrat parties. However, the company has learned very well from this situation by trying to clarify its position, particularly on the political side. The special task force will handle this issue in an attempt to prove PTT is politically "clean".

[ThaiClaus]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
*******************************************************************************

INSURANCE
SCB Life solid in tough 2011

Published: 29/02/2012 at 02:39 AM Newspaper section: Business 0
Share
The SET-listed SCB Life Assurance Plc (SCBLIF) reported strong financial results for 2011 despite external challenges and the flood crisis.

The company, formerly Siam Commercial New York Life, generated 33.4 billion baht in total revenue, up by 23% from 2010. Net profit improved to 2.49 billion baht, an 18% rise.

Net premiums totalled 29.9 billion baht, a 23% rise from a year earlier. Net investment income reached 3.38 billion baht, up by 26%, and other income amounted to 144 million baht, up by 49%.

Managing director Vipon Vorasowharid attributed SCB Life's solid performance to good distribution channel management, a capable response to the flood crisis and efficient cost control.

Even though the firm experienced unexpected expenses tied to flood relief for customers, employees and communities, the insurer posted healthy fourth-quarter results.

Revenue for the quarter totalled 9.12 billion baht, up by 37% year-on-year. Total net premiums accounted for 8.06 billion baht, up by 38%, while investment income was 936 million baht, up by 27%. Other income rose by 51% to 121 million baht.

Mr Vipon said the firm expects the growth momentum to continue this year.

SCB Life ranks third locally among the largest life insurance firms as reported by the Thai Life Assurance Association last December, with an 11.58% market share. It ranks fifth in total premiums with a 9.2% market share.

Mr Vipon said all distribution channels will be strengthened, particularly bancassurance.

The company forecasts total premiums from all distributions to grow by 21% this year to 36.6 billion baht, with new sales up by 26% to 15.2 billion.

SCBLIF shares on the SET closed yesterday at 480 baht, up 20 baht, in trade worth 4.8 million baht.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
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CPN budgets Bt25.3-bn for seven projects
Kwanchai Rungfapaisarn

The Nation
March 1, 2012 1:00 am
Central Pattana (CPN), Thailand's leading mall developer, yesterday announced a Bt25.3-billion expansion programme to develop seven new hotel and shopping-mall projects in strategic provinces throughout the Kingdom.
The expansion is aimed at cashing in on the coming Asean Economic Community (AEC), which will be effective in 2015 and encourage greater flows of shoppers from neighbouring countries, including Laos, Burma, southern China, and Malaysia.

The seven new retail projects are to be opened this year or in 2013. One of them, the Centara Hotel and Convention Centre Udon Thani, opened in January. CentralPlaza Udonthani is to have a soft opening on March 27, while CentralPlaza Lampang is to be opened in December.

Next year, CentralPlaza Ubonratchathani is to be opened in April, CentralFestival Hatyai in October, and CentralFestival Chiangmai in November.

These new developments will raise CPN's combined gross floor area from the current 4.2 million square metres to more than 5 million square metres by the end of next year and help reinforce the company's status as Thailand's No 1 retail developer and make an impact on the global stage.

Kobchai Chirathivat, CPN's president and chief executive officer, said the company had seen the growth potential of major cities across Thailand and realised that by investing in retail projects in such strategic locations, it could have great impact on these provinces and complement them.

"We have seen consumers in many provinces enjoy higher spending power and enter an urbanisation process to a new, modern lifestyle similar to Bangkok's, thanks to the government's injection of money into the system, especially in helping flood-affected people, as well as the arrival of social networking, which creates a rapid transfer of tastes and preferences among the people," Kobchai said.

"By developing and operating new shopping malls in those cities, we will be maintaining a diversified investment portfolio and helping to spread economic growth and create jobs. The seven new projects are all located strategically in areas where purchasing power is high."

The new retail developments will bring the total number of malls developed by CPN to 23 by the end of 2013, up from 18 currently.

In total, the seven new projects will create between 25,000 and 30,000 jobs.

Kobchai said the AEC would force all member countries in Asean to open up and deal with more intense competition, including in the retail sector.

"We have been studying [the situation] and foreseen that the retail market will be competitive when the AEC is implemented, as any rival can move from one country to the others to compete and gain market share. CPN will not just be defensive in protecting our share of the local market, but also expand into other markets in the region," he said.

Nattakit Tangpoonsinthana, executive vice president for marketing at CPN, said developing and operating new shopping malls in these strategic provinces would encourage economic growth and tourism in those areas.

"Our malls in Chiang Rai, Chiang Mai and Lampang will draw shoppers from Laos, Burma and southern China, while our retail complexes in Udon Thani and Ubon Ratchathani will draw shoppers respectively from Vientiane and Champasak, and the mall in Hat Yai will draw shoppers from Malaysia," Nattakit said.

Kobchai said CPN was planning to continue investing and growing its business this year because there are signs that Thailand's economy will continue to recover, thanks to various positive factors such as the government's economic stimulus measures and increased consumer spending. In addition, gross domestic product is expected to improve significantly.

He said CPN was streamlining its working process to ensure that it will be more efficient and there is a clear line of command in all major divisions, including marketing, sales, accounting and finance, which will work in more integrated ways. New "enterprise resource planning" software will be implemented by midyear to consolidate information among divisions for better efficiency and more integration.

Kobchai said CPN expected revenue to increase 25 per cent over last year. The company expects to achieve at least 15-per-cent annual growth in the future.


++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

TUF launches five-year push
Kwanchai Rungfapaisarn

The Nation
March 1, 2012 1:00 am
T-Holding, a wholly owned subsidiary of Thai Union Frozen Products, plans to make Sealect the leading canned-fish brand in Asia in five years through product innovation.
"With this [five-year] plan, we want to double the domestic sales of Sealect products from Bt1.9 billion currently to about Bt4 billion," Wichai Iamsangchan, managing director of T-Holding, said yesterday. "We also want to increase our exports from the Bt400 million to Bt500 million achieved last year to about Bt4 billion, which is similar to our domestic sales."

The company wants to beat the current leader Three Lady Cooks to become the No 1 brand in Thailand's canned-fish market in three years with a share of more than 30 per cent.

T-Holding has joined with Doi Kham Food Products to launch the first-of-its-kind premium canned fish with Doi Kham concentrated tomatoes.

The partnership will deliver new innovations to the production of canned foods in Thailand.

It not only underlines Sealect's commitment to offering consumers high-quality products that are both delicious and nutritious, but also helps to strengthen the Thai brand in the global market, Wichai said.

Pipatpong Israsena, director of Doi Kham Food Products, said this partnership used the best-quality tomatoes from the Third Royal Factory at Tao Ngoi in Sakon Nakhon, with its Bt400-million machinery imported from Italy, which has a production capacity of 3,000 tonnes of concentrated tomatoes per year.

"The objective of the partnership is to improve the living standards of villagers in surrounding communities by creating jobs and helping to generate income from tomato farming. It is also in line with royal sustainability initiatives," he said.

The canned-fish market is now worth Bt6.2 billion and is likely to expand because of the modern, fast-paced lifestyles of consumers, especially office workers and condominium residents, he added.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
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CHAMCHURI SQAURE
LH tipped as developer with Bt8-bn stake
SIRIPORN CHANJINDAMANEE
THE NATION March 2, 2012 1:00 am
Land and Houses (LH) plans to invest Bt8 billion in the Chamchuri Square project - in which its partner, the Government of Singapore Investment Corporation (GIC), holds a 40-per-cent stake - while forecasting more than Bt1.5 billion revenue in the first quarter from the Land and Houses Property Fund, launched yesterday.
A source from the Property Office at Chulalongkorn University said the committee overseeing the project had selected LH as the developer of a 13-rai (2.1-hectare) plot in the area of Chamchuri Square after holding an auction in which two bidders participated: Charoen Sirivadhana-bhakdi and LH. The source asked not to be identified.

Adisorn Thananun-Narapool, LH deputy managing director, said he had not been informed of the bidding result yet. If the company is selected, it has about Bt8 billion to spend on development of the project, which will be in the mixed-used style, similar to Terminal 21.

The planned project will include a retail section, a 500-room hotel and a convention centre in a 200,000-square-metre area including a building of more than 20 storeys. The construction period is expected to be about four years. LH will hold a 60-per-cent stake in the project, and GIC will own the remaining 40 per cent. LH will use its cash and borrowings to finance the development.

Apart from its core property business, LH makes investments for long-term returns. In 2011, the company had registered profit of Bt5 billion, including a Bt3.5-billion gain through its divestiture of Bangkok Chain Hospital, and sales of its Indonesian subsidiary. Lately, there have been rumours that LH will sell Home Product Centre.

While pointing out that rumours are commonplace, Adisorn did not rule out such a sale, given the appropriate timing and price. "If we can make a profit, we will definitely sell." Currently, LH holds a 30.7-per-cent stake in Home Product Centre.

The new Land and Houses Prop-erty Fund owns majority stakes in three projects: two freehold projects and one leasehold project. The remaining stakes are owned by GIC.

In the first quarter, LH expects revenue of more than Bt1.5 billion from the fund, which is valued at Bt3.3 billion, Adisorn said.

The proceeds from sales of the projects' units will be used to finance future expansion.

This year, LH set aside about Bt6 billion for investment (excluding the Chamchuri Square project). About Bt5 billion will be used for land purchases and the rest will be invested in a department-store project, also similar to Terminal 21. More than Bt9 billion was invested in this project last year.

Although LH sold three projects to the fund, the company's board of directors approved the firm's purchase of 15 per cent of the fund's units, as the projects are in prime locations with stable cash flow and occupancy rates of about 80-90 per cent. GIC will also buy 15 per cent.

Subhak Siwaraksa, chief executive officer at CIMB Thai Bank, which supports the fund units' sales, said the fund was expected to provide a return as 80 per cent of total assets are freehold and it is likely to gain higher return from higher land prices in the future.

The fund guarantees a return of 7 per cent until 2015.

Its subscription period is expected early this month

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
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Ratch to expand flare gas power generation
Watcharapong Thongrung

The Nation March 15, 2012 1:00 am
Ratchaburi Electricity Generating Holding is ready to expand its power generation using a by-product of natural gas to other onshore production sites of PTT Exploration and Production (PTTEP), as part of the promotion of national energy-efficiency policy.
RATCH chief executive officer Noppol Milinthanggoon yesterday said interesting sites included areas in Sukhothai province where the by-product, known as flare gas, is available but currently goes to waste.

All such projects would be invested in by Ratchaburi Energy, he said.

At present, the subsidiary is involved in two such projects in Sukhothai, at Pradu Tao field (2007) and Sao Thien-A. The latter project was unveiled yesterday. The sites have a combined capacity of 6.3 megawatts, enough to power 7,000 households.

Noppol said the projects would reduce the volume of wasted gas by 1.4 million cubic feet a day and save 10.5 million litres a year of bunker-oil imports.

Energy Minister Arak Chonlatanon presided over yesterday's project-launch ceremony. The new initiative supports the ministry's mission to promote the use of natural-gas by-products from oil refineries for electricity generation to help stabilise and strengthen local and community power systems.

"The successful establishment of the Sao Thien-A project is attributable to the great support and collaboration we received from the Mineral Fuels Department and PTTEP," Noppol said. "The project will help Thailand reduce bunker-oil imports for electricity production, with savings of approximately Bt175 million.

"More important, the initiative will enhance the nation's energy stability and add value to oil refinery by-products by employing them to produce electricity. This will be of great benefit to the country as it delivers a very high level of economic, social and environmental value."

The Bt190-million Sao Thien-A project produces electricity from the flare gas of the oil refinery in the Sao Thien-A field.

The plant is operated by Ratchaburi Energy with an annual production capacity of 24 million units. The daily consumption of natural-gas by-products from the refinery is about 800,000 cubic feet.

The electricity generated will be supplied to the power grid operated by the Provincial Electricity Authority (PEA) and the Electricity Generation Authority of Thailand.

The initiative is a natural extension of the project at the Pradu Tao field, where the plant annually produces and supplies an average of 18 million units of electricity from natural-gas flare to the PEA grid.

The combined production capacity of the two projects is 42 million units per annum.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

PTTEP to invest up to crude-oil production.
Watcharapong Thongrung

The Nation March 15, 2012 1:00 am
PTT Exploration and Production will spend Bt600 million to Bt700 million to expand crude-oil production from the Sirikit (S1) field to 30,000 barrels a day from 27,000 barrels currently.
Pairoj Rangponsumrit, senior vice president of PTTEP's asset division for the S1 project, said yesterday that the Sirikit oilfield in Kamphaeng Phet province, the country's largest onshore field, had 400 blocks that the company would have to proceed with exploration and drilling. The operating cost is expected to be Bt600 million to Bt700 million.

The increase in crude-oil production would also result in higher output of associated gas, up to 32 million to 37 million cubic feet a day.

The S1 project's environment impact assessment has been with the Natural Resources and Environment Ministry for 18 months. After it is approved, the company will take 18 more months to start operating, Pairoj said.

PTTEP is in talks with the Electricity Generating Authority of Thailand and the company's parent PTT to develop the associated gas from the Sirikit field as fuel for power plants or as natural gas for vehicles.

For the S1 project, PTTEP formed a joint venture for the first time in 1985. It now holds the entire operating rights after acquiring the stake in the project held by Thai Shell Exploration and Production in 2004.

PTTEP has gradually ramped up daily crude-oil production from 20,000 barrels back then |to 22,000-27,000 barrels currently.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
*******************************************************************************

TRUE's investments in 3G network 'could lead to short-term losses'
Usanee Mongkolporn
The Nation March 19, 2012 1:00 am
The True Corp group could suffer losses this year and the next from heavy investment in the 3G network rollout and service expansion, before starting to reap the benefits of the investments, True Corp chief executive officer Suphachai Chearavanont said.
True is expected to spend Bt40 billion this year on expansion of the 3G-High Speed Packet Access (HSPA) base station network to more than 13,000 bases from the existing 5,000 nation-wide. Last year it spent around Bt14 billion on the HSPA network rollout.

The rollout is part of its partnership with CAT Telecom to provide the 3G-850 MHz service. True subsidiary BFKT (Thailand) has procured the HSPA network equipment for CAT to generate 3G bandwidth for wholesale. True subsidiary Real Move has leased this bandwidth from CAT to provide service under the TrueMove H brand. The company targets 4 million subscribers this year, up from around one million at present.

Suphachai added that CAT had already sent its first 3G-bandwidth leasing bill to Real Move, which started providing the service last August.

He said that next year True would also evaluate the costs to see if it can win the third-quarter bid to acquire a 2.1GHz licence from the National Broadcasting and Telecommunica-tions Commission (NBTC). The costs will involve the licence price and the 3G-2.1GHz network rollout.

But he added that the network rollout cost would not be high as the company can install the equipment on its existing telecom facilities.

Each telecom operator plans to spend around Bt40 billion during the first two or three years on the 3G-2.1GHz network rollout if they can win licences.

NEW SET-TOP BOXES

True's pay-TV operator, TrueVisions, is also investing more than Bt2 billion to introduce 500,000 high-definition smart set-top boxes to replace the old versions used by current subscribers to its Platinum, Gold and Silver packages. The boxes are designed to prevent hacking by illegal pay-TV operators.

According to its filing to the Stock Exchange of Thailand, True's costs related to the launch and expansion of 3G-850MHz service by Real Move, plus flood-related expenses and TrueMove's higher concession fee, softened 2011 full-year EBITDA (earnings before interest, taxes, depreciation, and amortisation), which declined 7 per cent year on year to Bt17.1 billion. Net income from ongoing operations, excluding deferred income tax, was a loss of Bt3.2 billion in 2011.

Several state authorities are probing the legality of the 3G service-partnership deals with CAT. The Information and Communica-tions Technology Ministry's committee has completed its probe, but has declined to disclose the results.

Suphachai has reaffirmed that the deals were made in strict compliance with the law.

"I'm not paranoid about the probe. We've kept on moving," he added.

A CAT source said that if the ICT Ministry rules that the deals breach any law, the ministry would send the case back to CAT's board to make the decision on how to proceed next.

The Senate's good governance and anti-corruption committee concluded last month that the network rental deals between CAT and BFKT might breach the Frequency Allocation Law. It forwarded its conclusion to be further investigated by the National Anti-Corruption Commission and the National Broadcasting and Telecommunica-tions Commission.

Last week, True launched a new initiative under its Plook Panya (Growing Wisdom) Corporate Social Responsibility (CSR) programme. It aims to provide sets comprising a TrueMove H 3G SIM card and an aircard to 1,600 schools this year in 12 provinces, and also to some hospitals. The devices will enable them to access its 3G network for Internet connection on an unlimited basis free of charge for one year. It kicked off the new initiative in Nakhon Ratchasima last week.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
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TUF to keep Thailand as major output base
Petchanet Pratruangkrai
The Nation March 28, 2012 1:00 am
Seafood giant sees $5 bn revenue in 2015 via growth, M&As

Thai Union Frozen Products, Thailand's largest producer and exporter of processed and frozen seafood products, expects to generate revenue of US$5 billion (Bt153 billion) in 2015, driven mainly by strong growth and merger and acquisition strategies, particularly in the United States and European markets.

However, Wai Yat Paco Lee, the company's financial controller, yesterday said the company would maintain Thailand as its major production base and distribution centre for other countries, because of the Kingdom's good infrastructure.

The company may consider expanding its business to other Asean member states such as Burma and Cambodia if those countries develop infrastructure to serve investment in the future, he said.

TUF expects sales of almost $4 billion this year, which would be 15 per cent above last year $3.2 billion. An annual 15-per-cent increase is also targeted in the following two years.

Lee said the company should grow strongly thanks to rising global demand for tuna and shrimp, which are its major products.

In spite of an economic slowdown in European markets, demand for canned and frozen seafood has not fallen as tuna and shrimp are considered to be cheap sources of protein, he added.

TUF expects significant growth of seafood-product sales in both price and volume terms. To achieve its growth target by 2015, the firm will strengthen its local corporate brand as well as expand to new markets benefiting from the Asean Economic Community's implementation, Lee said.

The company has already invested in Indonesia and Vietnam.

However, under its current merger and acquisition plan, TUF will focus mainly on the European and US markets, as they have good infrastructure and strong demand for the company's products.

At present, more than 90 per cent of TUF's production is for export. Major destinations are the US, which accounts for 36 per cent of income, followed by the European market with 32 per cent, Japan with 10 per cent and Africa with 3 per cent. Other overseas markets are Canada and countries in Oceania, Asia, the Middle East and South America.

Last year, 52 per cent of TUF's overseas sales were from its own brands, up from 45 per cent in 2010. By major product, 48 per cent of sales were from tuna, up from 30 per cent in 2010, and 24 per cent from frozen shrimp.

Lee said the government policy to raise the daily minimum wage to Bt300 would not affect the company, as it had already adjusted operations and increased production capacity two years ago.

As a large firm, TUF has achieved an economy of scale and relies more on machinery and technology. An increase in labour costs should not affect a business of TUF's size, but will affect small and medium-sized enterprises, he said.

Meanwhile, the company reported a net profit rise of 77 per cent last year to Bt5.075 billion.

TUF's share price increased by 12.5 per cent in 2011, and has risen by 22.2 per cent this year. The company expects to see a continued positive trend in its stock price, Lee said. Its shares closed at Bt69.50 yesterday.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
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PTTGC fast-tracks some projects
Nalin Viboonchart
The Nation April 4, 2012 1:00 am
Chemical giant adjusts in view of opportunities, trend

PTT Global Chemical (PTTGC) is revising its investment plan, which will mean bringing forward and increasing the size of some of its projects.

Chief executive officer Veerasak Kositpaisal said after the annual shareholder meeting on Monday that some projects, previously not considered a priority for PTTGC, were now likely to be brought forward because of investment opportunity and the market trend.

Investment in some of the projects could take place this year, with those involving polyurethane and polycarbonate production coming into the priority category, he said.

PTTGC is considering which investment models would be most suitable for polyurethane and polycarbonate production, he added. Investment could be undertaken by the company itself, via a joint venture or as co-investment with partners.

Project location, which will be in Southeast Asia, is also under consideration.

"The investment size will be huge, so we need to consider carefully an appropriate site that will benefit the company the most," the CEO said.

Veerasak did not give further details, but it is believed the polyurethane and polycarbonate projects will fall under Perstorp, the French chemical company in which PTTGC is in the process of buying a 51-per-cent stake.

He said earlier that after the transaction is completed, Perstorp would invest in a toluene diisocyanate (TDI) plant in Southeast Asia. PTTGC expects the acquisition of the company to be completed in June.

TDI is the key component in producing polyurethane for the automotive industry and the property business, which are both booming sectors in Asean.

However, it may be difficult to establish a TDI plant in Thailand. The production process requires a dangerous chemical compound, cyanide, which means the project would be categorised as potentially harmful to the environment.

The project would, therefore, have to follow the procedure under Article 67 (2) of the Constitution, which would mean a substantial delay before the plant could be constructed.

Veerasak said earlier that the company was considering many Southeast Asian countries for the TDI plant, with Thailand one of the options.

Other projects in the pipeline after the merger between PTT Chemical and PTT Aromatics and Refining to form PTTGC will be revised as well. The aim of the revision is to increase the production capacity of high-potential projects. As a result, the company will spend more than under its current investment plan, he added.

"According to the existing investment plan, the company will invest about US$100 million [Bt3.8 billion] to maximise the synergy between the two firms. The revision may increase the spending to around $150 million. It should be finalised soon," he said.


$2-bn bond issues

PTTGC plans to invest Bt130 billion during 2012-16, and targets issuing bonds worth $2 billion to mobilise funding for its investment projects, he said. The remainder will come from the company's cash flow of $2.5 billion.

The company targets a net debt-to-equity ratio of no more than 0.7 time to maintain a healthy financial status.

Meanwhile, PTT Exploration and Production has signed a loan worth 300 million Canadian dollars (Bt9.3 billion), according to Bloomberg, citing a statement from the company.

The facility was signed last Thursday with Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp, according to the statement.

Proceeds will be used for PTTEP's Kai Kos Dehseh oil-sands project in Canada and the loan pays a so-called all-in rate, which includes margin and fees, of 205 basis points more than benchmark rates, a person familiar with the matter said. The facility pays fees of 175 basis points and a margin of 170 basis points, the source said.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
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Full-year forecasts to rise as banks post healthy Q1 results
SUCHEERA PINIJPARAKARN
THE NATION April 24, 2012 1:00 am
After the flood drained out to sea, banks gushed sparkling first-quarter results, with net profits at 11 banks up 8.36 per cent to Bt41.18 billion year on year.
Securities companies have said in their research notes that they are planning to raise their forecasts for bank earnings for the year.

Siam Commercial Bank (SCB) and Kasikornbank have already won upgrades from some brokerages after they turned in better performances than expected.

Finansia Syrus Securities raised the 2012 net-profit forecast for SCB by 7 per cent to Bt39 billion and for KBank by 3 per cent to Bt31.8 billion.

SCB was the most profitable with Bt10.3 billion, up 29.4 per cent from a year earlier, excluding the capital gain from acquiring a Bt5.1-billion stake in SCB Life that was booked in March. Including the gain, net profit dropped by 20.8 per cent.

SCB was followed by KBank with net profit of Bt8.9 billion, up 47 per cent, and Bangkok Bank with Bt8.08 billion, up 25 per cent.

LH Financial Group posted the highest quarterly profit growth at 53.95 per cent and Kiatnakin Bank the lowest at 7 per cent.

Krungsri Securities said the banking sector showed record quarterly net income mainly on a lower cost-to-income ratio and lower loan loss provisions. SCB and KBank are rated as "outperform" and Kiatnakin as "underperform".

Globlex Securities said the key drivers for the successful quarter were lower cost-to-income ratio, reduction of corporate income tax to 23 per cent from 30 per cent, normalised loan loss provisions, loan expansion and higher fee income.

In the fourth quarter of last year, banks suffered a higher cost-to-income ratio due to flood-relief measures for customers and staff, which hit earnings.

When the situation returned to normal, their cost-to-income ratio improved greatly. SCB's ratio in the first quarter was 40.9 per cent, down from 49.8 per cent in the fourth quarter of last year and 41.3 per cent in the first quarter of last year.

The ratio at Bangkok Bank declined to 40.77 per cent from 50.3 per cent and 41.63 per cent and at KBank to 41.4 per cent from 56.1 per cent and 48.3 per cent.

Larger banks showed higher earnings than expected, especially SCB and KBank, which booked profit from their insurance subsidiaries, according to Globlex Securities.

First-quarter non-interest income increased 12 per cent at KBank and 11.6 per cent at SCB.

Loan growth helped boost fee income from transactions related to loans.

After the flood, businesses required loans for improving operations at their plants and for investment, while the central bank launched a soft-loan scheme. These factors helped banks show outstanding growth.

This quarter, bank lending is expected to gain momentum in line with the surge in investment by businesses of all sizes, while retail loans, especially auto loans, should return to the growth path.


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Banpu not worried about tax moves by Jakarta
NALIN VIBOONCHART
THE NATION April 24, 2012 1:00 am
Banpu is optimistic that its Indonesian mining operation will not be subject to an export tax on coal and other regulations that may come under review, such as foreign-ownership limits. Brokerages have also said Thailand's leading coal miner is quite safe from the regulation review.
Somruedee Chaimongkol, Banpu's chief financial officer, said yesterday that the company did not think the Indonesian government would return to levying an export tax on coal as the Indonesian Supreme Court in 2006 ruled that the 5-per-cent export tax was unconstitutional. However, if there is any way for the government to reimpose the tax, it will take years for it to come into force.

"As we're still confident that the judgement of the Supreme Court will protect the coal industry in Indonesia, we're not concerned that our costs in that country will go higher," she said.

Regarding speculation that the Indonesian government is considering reviewing the law on foreign ownership, she said this was not the company's concern either.

Indo Tambangraya Megah, Banpu's arm for the coal business in Indonesia, was set up under the current investment law of that country, which allows 100-per-cent foreign ownership, so if any new regulation comes into force, it will not affect the company, Somruedee said.

Standard & Poor's Ratings Services said last week that despite speculation that the mining-regulation revision might increase the cost of doing business in Indonesia over the next two years, Jakarta was not expected to impose extreme regulations. S&P retains its stable outlook for mining operators in the world's largest coal-exporting country.

S&P said the importance of the coal industry to Indonesia's economy was likely to protect it. The government will still provide good incentives to attract foreign investors to the coal business.

S&P's report mentioned that the Indonesian government was considering increasing royalty rates and imposing additional tariffs for exports of unprocessed ore and coal. The new regulations may be enforced once the renegotiation of existing mining contracts is finalised. However, enforcement is likely to be delayed or toned down for the reasons it mentioned earlier.

Bualuang Securities said the revision of export tariffs was likely to focus on minerals such as copper, nickel and aluminium rather than coal because of the current shortfall for domestic consumption.

The brokerage is also confident that the export tax on coal will not be reinstated thanks to the Supreme Court's ruling in 2006. Banpu faces only two tax obligations - corporate income tax of 30 per cent and royalties on sales of 13.5 per cent.

"According to these reasons, we don't think that Banpu's profitability will be dented," the securities house said.

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Tipco goes for 50% share via innovation
PETCHANET PRATRUANGKRAI
THE NATION April 24, 2012 1:00 am
Tipco Foods, Thailand's leading fruit-juice producer, targets a market share of 50 per cent this year by strengthening its innovation to gain an edge over rivals.
As part of the strategy, the company yesterday launched Tipco FruitPlus, a 100-per-cent juice mixed with aloe vera gel and available in UHT packaging.

Chief executive officer and director Viwat Limsakdakul said that amid intense competition in the beverage market, the company that could offer innovative products to meet the infinite demands of customers would win the lion's share.

"Normally, we would invest about 1-2 per cent of the company's sales for research and development each year. However, for the new product, the firm has invested more in the past few years after finding a new innovative way to add more value to normal fruit juice," he said.

Tipco FruitPlus has been developed with a German business partner to include mixed fruit in UHT packaging by adopting an aseptic procedure that is performed under sterile conditions. The company is the first fruit-juice producer in Asean able to provide mixed fruits in ultra-high-temperature packaging by using this process, he said.

The CEO said Tipco had invested more than Bt100 million for the innovation and setting up a new production line. It has also spent Bt120 million on a marketing campaign in order to boost sales.

The company projects 12-month sales of Bt200 million for Tipco FruitPlus after this month's launch.

Overall Tipco sales this calendar year are estimated at more than Bt3 billion, representing annual growth of 25 per cent.

Viwat said the company should get a more than 50-per-cent share of the domestic fruit-juice market this year, against the current 45 per cent. The Kingdom's second-largest fruit-juice producer has a share of about 18-19 per cent.

Tipco also plans to introduce the new product to the wider Asean market in the next few months, starting with Indonesia, the Philippines and Vietnam.

About 5 per cent of the company's overall income comes from exports to the other nine Asean member states, a level that is ex-pected to reach 10 per cent this year, he said.

It also plans to establish plants in other Asean countries in the near future if demand increases and overseas production costs remain lower, he said, adding that one high-potential market for investment is Indonesia, because of the size of the population and the country's lower production costs.

Chanchai Kanjanaratmanee, operations director for beverage business at Tipco F&B, said domestic sales had grown significantly because the summer had arrived earlier than normal.

Generally, sales of 100-per-cent fruit juice are 25 per cent higher in the summer months than in other periods. However, sales have soared by 70-80 per cent since the middle of last month.

Tipco FruitPlus is available in three flavours - apple, grape, and mixed fruits and vegetable - each blended with aloe vera gel.

The retail price is Bt20 for a 180-millilitre carton.

The company plans to add a fourth flavour to the range this year.

[schmithi]

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
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NOD TO PHATRA TAKEOVER
Kiatnakin set for tender offer
SUCHEERA PINIJPARAKARN
THE NATION April 27, 2012 1:00 am
After obtaining shareholder approval yesterday, Kiatnakin Bank will now go ahead with its non-cash tender for all of Phatra Capital and a capital increase.

The bank will file the offer for Phatra to the Securities and Exchange Commission and Stock Exchange of Thailand this quarter.

Chairman Supol Wattanavekin told the annual meeting that the bank expected to close the purchase in August and de-list Phatra by the end of the third quarter. The bank will offer 0.9135 share of itself for one Phatra share and sell its stakes in Kiatnakin Securities and Kiatnakin Fund Management to Phatra.

To proceed with the transaction, |the bank will raise its registered |capital from Bt6.6 billion to Bt8.52 billion by offering 192.11 million new shares in a private placement at Bt32.20 each.

The share swap will not impact return on equity, but business growth might not be significant this or next year because the focus is on combining the business platforms of two groups under the new name of Kiatnakin-Phatra Financial Group.

Kiatnakin Bank expects to reap full dividends from the merger when the Asean Economic Community becomes effective because Phatra has expertise in investment banking and securities brokerage. This can strengthen its role as a financial adviser on transactions for customers in Asean. The bank expects to earn higher fee income from investment banking and securities brokerage.

Fee income right now might not be much because its portfolio is mainly full of instalment loans and non-performing assets, but fee income will be sharply increased after the merger, Supol said.

Asia Plus Securities said Kiatnakin Bank's profit would return to the growth mode this quarter after the flood dampened its performance.

The bank's first-quarter net profit dropped to Bt577 million from Bt683 million in the fourth quarter of last year and Bt605 million in the first quarter of 2011.

The brokerage said the bank should show better results in the second half of this year after the merger helps boost fee income.

[ThaiClaus]

Antwort auf Beitrag Nr.: 43.094.980 von schmithi am 27.04.12 05:33:15

post 170 KK
post 171 food sector
post 172 SCBLIF (früher SCNYL)
post 173 PTTEP
post 174 BAT-3K
post 175 TIC
post 176 BANPU, BAY
post 177 CPF, KK
post 178 LH
post 179 LPN
post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)

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SCB Life reports healthy premium growth, gains in auto leasing
Published: 30/04/2012 at 02:53 AM Newspaper section: Business 0
Share

The SET-listed SCB Life Assurance Plc recorded robust performance in the first quarter as total annualised first-year premiums totalled 3.76 billion baht, up 27% from the same period last year and 14% above its target.

Renewal premiums grew 19% to 5.99 billion baht, and total premiums increased 33% to 9.617 billion.

"Our overall first-quarter performance exceeded our expectations," said managing director Vipon Vorasowharid, "particularly the bancassurance channel's 2.39 billion baht, a 39% surge from the same period last year, and credit life's spectacular growth of 118%."

He credited the healthy results to an aggressive growth strategy in both the housing loan and auto leasing businesses of Siam Commercial Bank.

The company, formerly known as Siam Commercial New York Life, generated 33.4 billion baht in total revenue in 2011, up 23% from 2010. Net profit totalled 2.49 billion baht, an 18% rise.

The company forecasts total premiums from all channels to rise 21% this year to 36.6 billion baht, with new sales up 26% at 15.2 billion.

In a related development, SCB Life opened its new training centre at the Sino-Thai Tower on Asok Road.

With three training rooms accommodating over 300 trainees, the centre provides training programmes to enhance knowledge and sales skills.

In 2012, SCB Life plans to train 11,000 staffers to earn 4,500 new licences and 6,500 renewed licences.

In addition, the company is developing two new endowment products for the bancassurance and agency channels to expand its product portfolio and boost sales in the second quarter.

The new products are aimed at consumers who want a short-term savings plan or continued return and increasing protection coverage.

[schmithi]

post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT

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Broader view of PTT's Myanmar expansion
NALIN VIBOONCHART
THE NATION May 8, 2012 1:00 am
PTT Group's pursuit of further business opportunities in Myanmar is not only aimed at serving increasing demand for energy in the newly opened-up country, but also at supporting economic growth in Mekong sub-region countries in light of the Asean Economic Community's implementation in 2015.
PTT Group expects to introduce an investment package for the energy industry to the Myanmar government by the end of this year, said Anon Sirisaengtaksin, head of the group's Myanmar task force.

Its close relationship with the Myanmar government, particularly the Energy Ministry, is likely to be an advantage for PTT Group when it comes to further business collaboration in the country, he said.

The group set up a Myanmar task force to serve as an ad hoc working group in regard to investment in the neighbouring country. Anon, who has more than 15 years' experience in doing business with Myanmar, is the first head of the task force.

He was previously president and chief executive officer of PTT Explora-tion and Production (PTTEP), which has secured oil and gas exploration concessions in many Myanmar fields. After the recent top executive reshuffle in PTT Group, Anon now is chief executive officer of PTT Global Chemical.

He said that like many other companies, PTT Group was viewing Myanmar as a strategic investment location now that the country's leaders had decided to take the road to reform. The group would like to increase its presence in the country, which will benefit not only the company and Thailand, but also Mekong subregion nations as a whole.

"We asked ourselves what was the main objective for investing in Myanmar: to serve our need to invest in that country, like others, or to serve the growing demand of the country? If we decided to invest for ourselves, we could do so throughout the entire chain of the Myanmar energy industry, as we have the experience. But if we decided to invest for the people in that country, we would have to think beyond that," he said.

PTT Group came to the conclusion that its intention to invest in Myanmar would serve the neighbouring country's growing economy, he said. It then had to decide which type of energy demand would take priority for the country.

It concluded that electricity should be the top priority, followed by refineries and petrochemicals. Major infrastructure development in terms of roads and ports is also required to support the energy industry. Anon said PTT Group had a wealth of experience that could help the Myanmar authorities to plan and develop the industry.

The country already has refineries with a combined capacity of around 100,00 barrels per day, but the facilities are quite old. Moreover, the refined products may also not be suitable to the country's current needs.

There is, however, condensate from the refinery process, which can be sold to petrochemical plants at a premium price, he added.

Oil and gas production sites in Myanmar can also be upgraded in order to achieve higher petroleum output, besides which the government has a target to improve the standard of oil products available at fuel stations, which entails an increased supply of liquefied petroleum gas (LPG)

Anon said PTT could extend the gas pipeline from Thailand to Myanmar to serve LPG demand in the country. This would make gas business the fastest operation that PTT Group could implement in Myanmar.

Investment throughout the energy business chain would also extend the petroleum exploration and production business of PTTEP, which is currently testing the quality of petroleum resources at Myanmar's M3 site. If the quality is good enough to crack for LPG and petrochemicals production, PTT Group is ready to invest in both gas and petrochemicals, he said.

The task-force leader said many countries were now looking at entering Myanmar, resulting in a fiercely competitive environment. PTT believes, however, that the overall plan it is proposing to the government will benefit the country the most and that it will be able to build on the relationship and trust it has with the Myanmar authorities.

"This is our idea towards energy industry development in Myanmar. We may not need to invest in all parts of the chain. Some operations like refineries can be upgraded without investment in new facilities. If PTT Group can collaborate with Myanmar, we will also be able to help develop human resources," he said.

Anon submitted the group's ideas to the Myanmar Energy Ministry a few weeks ago and hopes to introduce the package officially to develop the energy industry with the government within six months. The investment picture in the country should be clear within such a time frame, he said.

The neighbouring countries of Thailand, Laos, Cambodia and Vietnam would also enjoy benefits from energy-industry development in Myanmar, he said, under the Asean Economic Community.

[schmithi]

post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF

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CP Foods seeks more foreign M&As
THE NATION May 11, 2012 1:00 am
Charoen Pokphand Foods (CPF) is exploring merger and acquisition opportunities abroad to boost export revenue after its takeover of CP Pokphand (CPP) in Hong Kong early this year increased its export contribution to 49 per cent.

However, Adirek Sripratak, president and chief executive officer, did not provide details on where it would make its new investments. He said the company's business expansion was based on three key principles: focusing feed and agricultural products on developing countries, focusing food-processing plants on regions with economic growth, and M&As.

Adirek said CPF's growth driver would mainly come from overseas operations in the future. It has invested in countries with high growth potential in agricultural-industry and food businesses, especially China, Vietnam, India, Russia and the Philippines. In Thailand, shrimp and other food export businesses are the main growth drivers. However, CPF's expansion plan also includes M&As, and the company is looking at many investment opportunities.

A CPF executive who recently visited the United States for a market survey hinted that there were big business opportunities there, particularly in retail. However, the company has not made any decision on what kind of investment it should make there.

These business strategies were unveiled yesterday after the company reported that its net profit had skyrocketed by 229 per cent to Bt12.11 billion in the first quarter of this year over the same period in 2011. This significant growth coincided with its acquisition of CPP, a listed company on the Hong Kong stock exchange, the deal on which was closed in the first quarter. CPF management believes that the government understands the problem of Thai commodity prices and that farm-product prices have hit rock-bottom.

The CPP takeover resulted in an Bt8.67-million gain in fair value of investment in CP Vietnam Corporation, of which CPF held 29 per cent before its acquisition of CPP, which held the remaining 71 per cent.

As for the consolidated sales of CPF and its subsidiaries, the company reported first-quarter consolidated sales of Bt73.48 billion, an increase of 61 per cent from last year. Sales growth for Thailand operations was 11 per cent and overseas sales growth 205 per cent.

The acquisition of CPP also changed the consolidated sales structure of CPF by reducing the sales proportion of Thailand operations from 74 per cent to 51 per cent while increasing the overseas contribution from 26 per cent to 49 per cent.

CPF held about 74 per cent of CPP after the transaction was completed. CPP operates agricultural and agricultural-industry businesses in China and Vietnam, where CPF foresees high growth opportunities in agribusiness.

CPP reported net profit of US$49 million (Bt1.52 billion) in the first quarter, an increase of 58 per cent year on year.

[schmithi]

post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
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CPF adopts new business model with Korean chain
Achara Pongvutitham
The Nation May 18, 2012 1:00 am

Company believes tie-up will help it achieve Bt10 billion exports in 5 years

In a bid to boost chicken exports, Charoen Pokphand Foods (CPF) has formed a business partnership with E-Mart, the largest discount store chain in South Korea, as part of a five-year plan to achieve targeted export value of Bt10 billion.

One of the key business models for CPF's long-term growth, the company is considering developing such business models with other trading partners here and overseas. In addition, the strategy will also encourage the company and its partners to achieve sustainable growth by directly serving market needs.

The partnership with E-Mart is a pilot project of CPF to forge similar partnerships overseas and raise export value from Bt1 billion now to Bt10 billion by 2017.

Under the strategy, the first shipment will be exported next month, the results of which will be evident by the end of this year.

Pisit Ohmpornnuwat, executive vice president of CPF, said E-Mart had broached on this idea, which also matched CPF's business strategy that it had already implemented with its local trading partners. In addition, E-Mart offers more business opportunity to distribute ready-to-eat products and the company's frozen food category.

"It is a good business matching with CPF producing a variety of products while E-Mart is efficient in distribution and has market channels there," said Pisit. He added that all CPF product exports under the contract would be under the CP brand. CPF is also planning to launch a similar business model with trading partners in other countries.

CPF is going forward with its brand-building in the international market by accessing more retail and wholesale segment through the "CP brand". So far, the company has been one of the main suppliers of chicken products to Cosco in the US, Woolworths and Cold in Australia, Carrefour and Auchan in France and E-Mart and Key Account in South Korea.

Pisit said such an expansion model would also serve the company's plan to change its processing line from original equipment manufacturing at more than 80 per cent and the remainder production under the "CP" brand. In addition, its total production has been distributed through three channels - industrial production 60 per cent, food service 30 per cent and the rest through retail.

"In our five-year plan, we have to focus more on ready meals to cope with consumption trend," said Pisit.

Pisit pointed out that chicken and shrimp export revenue now accounts for 20 per cent of the company's estimated sales of Bt300 billion. However, it has drawn up a plan to achieve Bt100 billion export value in the next five year.

To boost exports, the company has invested Bt1.2 billion to expand its existing shrimp wanton manufacturing plant in Rayong to serve rising market demand. Its shrimp export volume is projected to increase from 53,000 tonnes to 70,000 tonnes this year, making it the world's biggest shrimp exporter as well Thailand's biggest supplier.

[schmithi]

post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
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EGCO boosts investments in Q1
WATCHARAPONG THONGRUNG
The Nation May 19, 2012 1:00 am
EGCO Group acquired several power plants in the first quarter, with the additional 71 megawatts of renewable power accounting for 24 per cent of its total power-generation capacity.

The company successfully acquired 99.99 per cent of two solar-power projects - the 6MW SSP4 and 8MW SSP3 projects - from MEMC Singapore Pte Ltd. Under contract agreements, power generated by both projects would be sold to the Provincial Electricity Authority (PEA) and receive an adder rate of Bt8 per kilowatt-hour (kWh) for electricity sales from the Power Development Fund for 10 years.

In addition, EGCO acquired a 60-per-cent equity stake in G-Power Source Co Ltd from Gunkul Engineering Plc to jointly develop four solar-power plants with combined capacity of 26MW. Three of these projects have started commercial operations and been awarded an adder rate of Bt8 per kWh for 10 years by the Electricity Development Fund.

In early March, G-Power Source supplied electricity from the three solar power plants to PEA according to contract agreements. The three solar power plants are the Ta Khit Solar Power Project and Ta Sang Solar Power Project in Nakhon Sawan and the Dong Khon Solar Power Project in Chai Nat.

The fourth project, located in Phetchabun, is expected to supply electricity commercially in December this year.

In addition, EGCO Group has acquired a 90-per-cent stake in Theppana Wind Farm in order to develop a 14MW wind-farm project, and a 49-per-cent stake in Yanhee Solar Power to develop six solar-power plants with a combined capacity of 57MW. The projects are now in the engineering, procurement and construction (EPC) process, and funds are being sourced.

"Due to its successful new investments in renewable power plant projects in the first quarter of this year, the company's capacity has increased by 71MW or 24 per cent, [contributing to achieving] its target of 300MW of total renewable power generation by 2015," EGCO president Sahust Pratuknukul said.

The company has already selected the contractor for the 8MW extension phase of its solar project in Lop Buri, Sahust said. Construction will be complete by the end of this year. The solar plant's commercial operations have already begun, producing 55MW of power, making it the world's largest solar plant using thin-film technology. EGCO Group holds a 33.33-per-cent stake in the plant.

Meanwhile, the company is conducting an environmental impact assessment (EIA) on the TJ Cogen, TP Cogen and SK Cogen small power projects, each of which have 90MW in total capacity.

In the middle of May, EGCO purchased additional shares in the Quezon Power Project in the Philippines, taking its total stake from 52.125 per cent to 98 per cent. The company also bought a 50-per-cent stake in Absolute Power P, which operates a bio-diesel plant in Rojana Industrial Estate in Rayong with about 300,000 litres per day in total capacity.

[schmithi]

post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
*******************************************************************************

PTTEP chief reassures investors on move to take over Cove energy
The Nation May 31, 2012 1:00 am
The CEO of PTT Exploration and Production yesterday assured stock investors of the long-term growth prospects from the acquisition of Africa-focused Cove Energy, though this may lead to recapitalisation.
Several brokerage houses expected PTTEP to raise capital to finance the 1.22-billion pound sterling (Bt60.5 billion) acquisition. This led to a continued fall in the stock price and market capitalisation.

Chief executive officer Tevin Vongvanich said investors should not be overly concerned over recapitalisation, as the acquisition is meant to sustain growth and returns thanks to the huge gas reserves in the Mozambique gas field, which is three or four times as high as reserves in the Gulf of Thailand.

Investors' benefits are the priority, he said, adding that the company was finalising the financing method. UBS, which is advising PTTEP on the acquisition, on May 23 signed a deal to provide 950 million pound in financing, structured as a one-year bridge loan.

"We are considering financing options - borrowing or recapitalisation. It's not final yet. But if we have to raise capital, we will be concerned about the impact and investors' benefits. At the same time, we need to maintain the growth of return, which has been rising since listing. Recapitalisation should not raise concerns, as we will maintain investor return at a high level," he said.

Tevin noted that some of the financing would come from cash flow and the rest from loans. The company needs to balance revenue and expenses in line with the policy to maintain financial strength and growth in investor return, he added.

From May 23, the company has 28 days to complete the offer. Last week, it raised its offer for Cove Energy by 25 per cent from the February bid to beat Royal Dutch Shell.

Since the new offer was announced on May 23, PTTEP's share price has fallen. At Bt153 yesterday, the price was at a six-month low. At Bt507.8 billion, the market capitalisation has also dropped by more than Bt28.2 billion from the May 22 level of Bt536 billion.

Meanwhile yesterday, PTTEP received written consent from Mozambique's Ministry of Mineral Resources for the indirect acquisition of a gas field in the African country, bringing the Thai company another step closer to successful acquisition of Cove Energy.

The consent was one of two conditions imposed by PTTEP's subsidiary PTTEP Africa Investment (PTTEP AI) for the acquisition of Cove Energy. The other is that Cove Energy's board of directors must encourage shareholders to sell their shares to PTTEP AI.

The consent was required as a result of the indirect change of control of Cove Mozambique's interest in the country if the recommended cash offer is finalised.

The granting of the consent confirms that the Mozambican government has strong confidence and trust in the capability of PTTEP to increase and strengthen the energy supply to both Thailand and Mozambique, Tevin said.

[schmithi]

post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
*******************************************************************************

Indonesia tax concern hits Banpu share price
The Nation June 6, 2012 1:00 am
Banpu's share price has come under pressure, falling back to its 2009 level as investors grow concerned over the impact of Indonesia's coal-export tax on the firm's operations in that country.
Closing at Bt432, the share price was the lowest since November 2009. It lost Bt18 or 4 per cent yesterday, while the Stock Exchange of Thailand's composite index lost 1.44 per cent to end the day at a four-month low of 1,099.15 points.

The market was also under selling pressure on heightened political conflicts and the likelihood of Greece's exit from the euro zone. Foreign investors were net-sellers yesterday, with a net-sell position of Bt1.3 billion.

Through a 65-per-cent holding in Indo Tambangraya Megah (ITMG), Banpu produced 25 million tonnes of coal in Indonesia last year and the output is expected to rise to 27 million tonnes this year. It is now Indonesia's third-largest coal producer.

The stock came under pressure despite a company executive last week saying the mine's exports would not be subject to the tax, as it produces a high-energy form of coal.

Indonesian Energy and Minerals Minister Jero Wacik said on Monday that the country needed to conserve coal for domestic use but gave no details on the scope or time frame of any curbs.

According to Wood Mackenzie, a global energy-research consulting firm, the policy would make the exports of low-energy and high-moisture coal unprofitable. At Coaltrans Asia 2012, Rohan Kendall, a coal research analyst, yesterday noted that Indonesia's export tax would put at risk up to 68 million tonnes per annum (mtpa) of coal exports and US$11 billion (Bt348 billion) of the industry's value.

While Indonesia will likely remain the largest seaborne thermal-coal exporter up to 2020, the introduction of the export tax could cause it to lose competitiveness compared with other major supply regions, Wood Mackenzie said.

"Indonesian cash costs have doubled since 2006," Kendall of Wood Mackenzie said. "This was not an issue while coal prices were rising but now that prices have softened it is important to constrain costs to keep projects viable. "Even without the imposition of an export tax, Indonesian coal producers may find it difficult to prevent a continuation of cost-increase imposition, but additional taxes will further exacerbate cost hikes."

Noting that the tax will erode the competitiveness of mines, Kendall said: "An Indonesian export tax would have a larger effect than the combined impact of Australia's minerals resource rent tax and carbon tax, which we estimate will decrease the value of the Australian coal industry by $9 billion."

Wood Mackenzie noted that even without the export tax, Indonesia would experience increasing costs because much of its future coal production will be from greenfield areas in South Sumatra and the Wahau coal field in East Kalimantan.

"China and India will continue to ensure strong growth in coal demand," Kendall noted. "But for Indonesia to maintain its position as the world's largest coal exporter it will need to ensure cost increases are manageable. An export tax on top of already increasing costs will jeopardise the viability of a significant volume low-rank-coal exports."

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CPF sharpens 'green' focus
Kwanchai Rungfapaisarn
The Nation June 6, 2012 1:00 am
Up to Bt1 bn set for improved technology

Charoen Pokphand Foods will spend between Bt500 million and Bt1 billion on "green" technologies and machinery in the next three years as part of the company's strategy to develop an environment-friendly business, president and chief executive officer Adirek Sripratak said yesterday.

More than Bt3 billion has been already invested in environment-friendly initiatives covering all major parts of the business, from the feed, farm and food businesses through to logistics and retail distribution, he said.

Many green projects are being enhanced by CPF, including those involving co-generation, biogas, biodiesel and the attachment of the "Carbon Label" on its products.

The company has also recently adopted the "CPF Green Farm Standard", to be achieved by its contracted farmers, he added.

"There are more than 7 billion people in the world today. The increase in the global population leads to an extreme limitation of resources and a strong impact on the environment. Many businesses around the world are tending to attach greater concern to environmental issues and put them into their business policy," Adirek said.

He said CPF had also elevated its green business initiative as a key policy aimed at promoting sustainable long-term growth, both in its agricultural and food businesses. The move is in line with the company's "kitchen of the world" vision.

"Our strategy is to run business responsibly, which will be done through an environment-friendly policy," said the company chief. CPF is applying three green strategies: protection of the environment and reduction of environmental impacts; encouraging the use of environment-friendly initiatives and technologies in its manufacturing process; and introducing those technologies to farmers and trade partners.

Meanwhile, Adirek sees a tendency for price increases in agricultural products in the medium to long term, which is in line with the government's policy to raise the price of farm products and the incomes of farmers, who still account for the largest portion of the population.

"We estimate a trend for food prices to increase by between 5 and 10 per cent this year, in line with higher costs. The reduction of fuel prices at this time will, however, [only] be for the short term," he said.

CPF expects turnover of more than Bt300 billion this year, of which more than 50 per cent will be from international investments and more than 40 per cent from domestic sales. About Bt30 billion will be from exports, of which between Bt6 billion and Bt7 billion will be generated by sales to European markets.

Regarding the Asean Economic Community, which comes into effect in 2015, Adirek said CPF had prepared in advance to cope with upcoming trade liberalisation.

"We have been investing in most Asean markets for almost 20 years," he noted, adding that the company's strategy was direct investment to serve domestic demand in the countries where it operates.

[schmithi]

post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
*******************************************************************************



TUF
TUF plans automation to lessen impact from 'labour exodus '
Warunee Khlawkhuntod

The Nation

Mahachai, Samutsakorn
June 7, 2012 1:00 am
Thai Union Frozen Products is preparing a plan to cope with an imminent labour shortage after Myanmar opposition leader Aung San Suu Kyi recently told a huge crowd of Myanmar migrants working in the seafood industry here that she would create opportunities for them to go back home.
"The company believes that we can convince those Myanmar workers to continue working here as they will get pay equal to Thai workers and other benefits as well," Rittirong Boonmechote, TUF's managing director for shrimp product lines, said yesterday.

Of TUF's 12,074 workers, those from Myanmar account for 50-60 per cent. If these legal migrants return home, the company's processing lines would suffer, as the company's plants are 80 per cent concentrated on labour.

The company plans to invest Bt200 million to automate its processing lines. It has already installed the basic equipment and plans to import manufacturing robots after successfully implementing them in its factories in Europe.

The plan for an automated production system will immediately solve the company's problems in case it loses a huge number of workers at the same time. The automatic system will be expanded every year in line with rising orders. The company is set to grow sales by 15 per cent this year from Bt98 billion last year, of which tuna controlled the lion's share with 48 per cent followed by shrimp at 19 per cent. The rest comprised sardines and mackerel, cat food, ready-to-eat food and value-added goods.

The company's shrimp business is set to contribute Bt10 billion this year.

TUF is a global seafood exporter and the world's biggest tuna manufacturer.

The company hosted the R&D Festival, inviting more than 200 blue-chip business partners in the seafood industry from all continents to taste and try its products. There were 83 dishes from its food categories, including shelf stable products, frozen products, finger foods, sushi and sashimi, and bakery products.

In the past year, the company was highly successful in developing and selling 170 new products.

Thailand is one of TUF's most significant production bases, with operations in Samut Sakhon and Songkhla. The company also focuses on quality. Both imported and exported products are produced to the same high standard.

In two years, the company aims to be No 1 in crab pasteurisation in the US, he added.

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PTTEP enters new Myanmar |joint-venture exploration deal
The Nation June 7, 2012 1:00 am
PTT Exploration and Production yesterday signed a production-sharing contract for two more onshore exploration blocks in Myanmar.
This will help expand PTTEP's investment base as per its strategic plan and strengthen energy supply for both Thailand and Myanmar in the future, the company says.

President and chief executive officer Tevin Vongvanich and Htun Lynn Shein, managing director of Win Precious Resources (WPR), signed a production-sharing contract with Aung Htoo, managing director of Myanma Oil and Gas Enterprise for exploration and production rights of PSC-G and EP-2 blocks.

These two onshore exploration blocks are in central Myanmar just west of Nay Pyi Taw, the capital. PSC-G block covers 13,330 square kilometres and EP-2 covers 1,345 square kilometres.

PTTEP, via its subsidiary PTTEP South Asia, jointly invested in these two blocks with WPR. PTTEP SA will be the operator holding a 90-per-cent share while WPR holds 10 per cent.

Exploration results have shown that there are working petroleum systems in the area. The joint-venture companies plan to conduct two-dimensional seismic surveys and drill four wells during a three-years exploration period with a minimum commitment of about US$24 million (Bt755 million).

So far, PTTEP has invested in four petroleum exploration and production projects in Myanmar: the Yadana, Yetagun, Myanmar Zawtika and Myanmar M3/M11 projects.

[schmithi]

post 180 KBANK, PTTEP
post 181 food sector
post 182 IVL
post 183 PTTEP
post 184 KBANK
post 185 IVL
post 186 TTW
post 187 KSL, RATCH
post 188 DELTA
post 189 SCBLIF (früher SCNYL)
post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
*******************************************************************************

Egco plans to construct 900 MW power plant in Nakhon Si Thammarat by 2016
SUCHEERA PINIJPARAKARN
THE NATION June 12, 2012 1:00 am
Electricity Generating Co (Egco) plans to build an Bt18-billion, 900-megawatt power plant in Nakhon Si Thammarat to replace the old 749MW Khanom power plant whose supply contract with the Electricity Generat-ing Authority of Thailand (Egat) expires in 2016.
Sahust Pratuknukul, president of Egco, the country's first independent power producer, said yesterday that construction would commence next year. After electricity begins to be generated by 2016, the new plant will contribute annual profit of at least Bt500 million.

The company plans to bid for two IPP (independent power producer) projects in the country this year.

Egco's existing power plants at home and abroad have a combined capacity of 4.97 gigawatts.

Yesterday Egco completed the increase in its stake in a Quezon coal power plant in the Philippines from 52 per cent to 98 per cent for Bt11 billion.

The higher shareholding is meant to strengthen the group's profit, as Egco will realise Bt1.5 billion in profit from the plant this year, up from Bt1 billion last year, and Bt2 billion a year in the future, Sahust said.

The group predicts its net profit this year will be more than Bt5 billion.

Egco wants to expand the Quezon plant by 500MW from 460MW. It will discuss the plan with the Philippine government.

Besides the power-generating business, Egco is negotiating to acquire a coal mine in Indonesia with reserves of more than 1 million tonnes to secure a source of fuel. The result is expected to be known in two months.

Egco also hopes to boost its renewable-energy portfolio within three years from 1 per cent at present to nearly 10 per cent, or 300MW, in line with state policy.

The company is interested in solar and wind farms, with investment set at Bt100 million per megawatt, Sahust said. Egco will take over solar farms now under construction with the capacity of 7-8MW each from investors who were granted an adder of Bt8 per kilowatt and is seeking partners to support the funding.

The solar-farm deals will become clearer soon, he said.

Egco recently invested in three solar power plants - SPP2, SPP3 and SPP 4 - with the country's first solar-tracking system. The three projects, located in Saraburi, Si Sa Ket and Ubon Ratchathani, have a combined capacity of 22MW.

Land and Houses Bank yesterday contributed half of a Bt2.46-billion syndicated loan for these three solar farms. Kasikornbank is the mandated lead arranger, chipping in 25 per cent, with the remaining 25 per cent coming from ICBC (Thai).

Egco will invest in wind farms on its own because construction costs are higher than for solar farms.

"We plan to build three wind-power plants with a combined capacity of 200MW in Chaiyaphum. We will start construction after getting the green light from Egat," Sahust said.


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Thanachart develops strategy for AEC
SUCHEERA PINIJPARAKARN
THE NATION June 12, 2012 1:00 am
Thanachart Bank has formed defensive and aggressive strategies ahead of the Asean Economic Community by strengthening its relationships with retail customers and using the network of its affiliate Scotiabank to support customers' deals overseas.
Anuwat Luengtaweekul, chief financial officer, said the AEC was expected to attract foreign banks to do business in Thailand. Local banks want to lure retail customers rather than enterprise customers because foreign banks are strong in corporate banking.

TBank's loan portfolio is basically retail, which accounts for 65 per cent or Bt400 billion, so the bank has to reinforce its marketing of retail products to customers especially through cross-selling to persuade them to purchase more products and services. This also solidifies customer relationships.

For the aggressive strategy, the bank will use the network of Scotiabank to support Thai customers planning to invest in the Asean region. Despite the single market, each country has different regulations, which are a barrier to doing business. The bank is studying the regulations in each Asean country to help its customers by giving them information on business opportunities and the obstructions in running businesses.

Chief executive officer Somjate Moosi-rilert said the retail segment, particularly hire purchase, is the key driver of its loans this year due to the surge in car sales and the launch of the first-car buyer scheme. Hire purchase was the only business to help its lending in the first quarter expand by 1.7 per cent.

Although the first-quarter results were far from the annual growth target of 10 per cent, the prospects for car sales, consumer spending and SME loans would accelerate loan growth in the remaining quarters, he added.

Tirachart Chiracharasporn, head of hire-purchase, said the bank was revising up its forecast for car loans this year from Bt330 billion to more than Bt330 billion, but the new target would have to be approved by the board first.

Anuwat said loan growth in the first half would reach 5 per cent.

TBank's loans and profitability were ready to take off because the cost of integrating Siam City Bank, a recent acquisition, will gradually decline.

The bank would attempt to improve the cost-to-income ratio from 64 per cent to below 60 per cent by year-end.

The bank would clear Bt4 billion of its remaining non-performing loans within the second half after clearing Bt6 billion of NPLs in the first half. That is expected to bring the NPL ratio down to 5 per cent from 6 per cent now.

However, the domestic political instability is a risk factor for TBank, while it has to also closely monitor the European financial situation.

The banking industry has already made a stress test from the impact of the eurozone crisis on Thailand.

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LPN
7 launches set as developer cashing on condo demand
SOMLUCK SRIMALEE
THE NATION June 12, 2012 1:00 am
LPN Development is launching seven new condominium projects worth a total of Bt10 billion with a combined 8,000 units in the final seven months of the year to cash in on strong demand for condos priced lower than Bt2 million.
This is part of the property firm's target to achieve presales of Bt16 billion by the end of the year after seeing presales worth Bt6 billion in the first five months.

Chief executive officer Tikham-porn Plengsrisuk said yesterday that LPN was launching three projects this month worth a total of Bt6 billion. They are on Prachachuen, Srinakarin-Bang Na, and Rattana-thibet roads in Bangkok. The next four projects, worth about Bt4 billion, will launch in the second half. Two of them will be in the provinces, likely Chon Buri or Prachuap Khiri Khan's Hua Hin.

Meanwhile, the company's subsidiary Pornsanti Co also plans to launch three new townhouse projects worth Bt1.2 billion each in the second half after receiving positive feedback from two such projects launched in the first half of the year, Pronsanti managing director Somsri Techakraisri said.

LPN has kicked off a marketing campaign to celebrate its 23rd year by offering special loan packages on condominiums costing Bt1 million. Customers will pay instalments of only Bt5,000 a month for 55 months, after which they will pay the instalment rate set by the bank holding the mortgage. Overall, this deal will save buyers Bt240,000, including transfer and mortgage fees.

This campaign is called "Lumpini Big Shock" and will run from June 21-24 at Queen Sirikit National Con-vention Centre in Bangkok. It will apply to six condominium projects: Rama III, Chaeng Wattana-Pak Kret, Pattanakarn-New Phetchaburi Road, MegaCity-Bangna Phase 1, Ram Indra-Ladprakrown, and Sukhumvit 109-Bearing. They combine 3,000 units worth Bt4 billion.

LPN has joined with four commercial banks to provide mortgages for this event: Bangkok Bank, Kasikornbank, United Overseas Bank (UOB), and Government Housing Bank.

"We target sales of about 70 per cent of the total, or about Bt2.8 billion worth, from this event," managing director Opas Sripayak said.

This is part of the company's effort to achieve presales of Bt10 billion in the first half of the year.

"Although most leading property firms have been interested in developing condominiums costing less than Bt2 million, we believe that our experience in this segment in the long term, 23 years, guarantees that our customers will get homes that match their demands," he said.

He added that after last year's floods, many people were looking to buy condominiums as second homes, resulting in a resurgence of this market. LPN believes that the market will see growth of 5-10 per cent for the rest of the year, especially in locations close to the mass-transit system.

[schmithi]

post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
*******************************************************************************


PTT unit ready to bid for six IPP projects
Watcharapong Thongrung
The Nation June 16, 2012 1:00 am
Group plans power-plant merger for greater competitiveness

PTT Group is interested in bidding on six independent power producer (IPP) projects with a combined capacity of 5,400 megawatts that will be launched soon by the government.

Under the third revision of the Power Development Plan 2010 covering 2010 to 2030, IPPs will be mandated to use natural gas as fuel.

Pailin Chuchottaworn, president and chief executive officer of PTT, said the company was ready to enter the bidding. However, the bid will be handled by a PTT subsidiary that operates the group's power-plant business.

He said that under Phase 1 of the plan, 5 million tonnes of liquefied natural gas (LNG) per year from abroad would be required to supply the new IPP plants. However, to prepare for greater long-term energy security, PTT is planning for Phase 2, which will include storage facilities and a new port to handle 10 million tonnes of LNG per year, which is the equivalent of 1,400 million cubic feet per day.

A PTT source said the company's board had agreed to participate in the bid and allowed PTT Utility Co, which is the subsidiary that sells power to the PTT Group and other clients in Map Ta Phut in Rayong province, to take part.

Accordingly, the plan is to merge IPP and SPP (small power producer) plants that belong to the Thai Oil Group with PTT Utility in an attempt to increase the group's competitive ability. Thai Oil owns two blocks of land in the construction area. IRPC, which also owns land nearby, may participate in a separate bid, which would enable PTT to bid for more than three plants.

Previously, the Energy Ministry was expected to announce the bid at the end of this year and open the bidding early in 2013. The entire project is expected to take seven to nine years before it will be ready to sell electricity to the grid.

The first IPP plant will have a capacity of 900MW and will replace the 700MW Rayong plant owned by the Electricity Generating Co (Egco), which is set to cease operations in 2016. That is why there is a push to speed up the construction process for these new plants to avoid power shortages in the Eastern region.

The rest of the IPPs will be gradually phased into the electrical grid from 2021 onwards.

Apart from PTT, other companies that are expected to enter bids include Egco Group, Ratchaburi Electricity Generating Holding and Gulf JP, and they all are offering locations that are close to the PTT pipelines

[schmithi]

post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
*******************************************************************************

Vietnam is top investment destination in Asean for CPF
ACHARA PONGVUTITHAM
THE NATION June 25, 2012 1:00 am
Vietnam will become the biggest investment destination for Charoen Pokphand Foods among Asean countries next year, followed by Cambodia and Laos, due to their vibrant economies.
CPF plans to invest Bt2 billion-Bt3 billion in Vietnam and Bt400 million-Bt500 million each in Cambodia and Laos. The scale of investment is in line with the population of those countries - 90 million, 8 million and 5 million. The focus will be on its strengths, including farming, feed production and food business operations, to ensure integrated manufacturing from upstream through downstream.

Despite the rise of Myanmar, the company is in no rush to start up any new businesses there, preferring to wait for a suitable time. Any trading business of the company there has been managed by parent company Charoen Pokphand Group, which established an agro-industrial business there 15 years ago. Investment in the country will start in two years, after the government puts in place investment regulations and a financial system to facilitate trade.

CPF's international investment takes two forms - engaging in mergers and acquisitions in developed markets and opening its own basic manufacturing plants, particularly for feed and food, in emerging and developing markets. Either way, the main objective is to capture the local market to overcome rising trade barriers.

"M&A is one of CPF's important stratagies to ensure the company's sustainable growth," Adirek Sripratak, president and CEO, said last week.

For instance, the company's successful acquisition early this year of CP Pokphand, a listed company in Hong Kong that manages the group's business in China and Vietnam, has pumped up CPF's revenue from more than Bt200 billion to Bt300 billion.

A new acquisition that the company is negotiating is expected to be completed this year. However, he declined to specify the type of business, saying only that it will reinforce the company's agro-industrial business.

There are also many areas for the company to take over companies in Europe and Asia in particular, with a combined 3 billion consumers.

"CPF's strength is in Asia where we enjoy high growth and M&A will encourage synergy. We will consider talking with both brand and non-brand manufacturers," he said.

Expansion overseas will also support the company's revenue restructuring. Overseas operations will contribute about 60 per cent of revenue in the near future with the rest coming from domestic sales and exports.

The company's foreign-exchange earnings now contribute more than half of its total sales. It targets to increase sales by an average of 10 per cent annually.

Recently, Adirek joined CP Group executives led by chairman Dhanin Chearavanont on a trip to Brazil to explore business opportunities and learn about the modern technology employed in mega-farms, which start in size from 100,000 rai of land. Soybeans, maize and sugarcane all have potential for the group's investment.

The company's total capital expenditure budget has been set at Bt15 billion, of which business development abroad, focusing on feed mills and farming, accounts for 60-70 per cent. The remaining budget will be spent on business development in the domestic market for finished products and marketing networks.

[schmithi]

post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
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KSL awaits new investment law in Myanmar
SOMLUCK SRIMALEE
THE NATION July 11, 2012 1:00 am
Khon Kaen Sugar Industry (KSL) is looking into expanding into Myanmar, as part of its plan to cash in on the Asean Economic Community, where sugar will continue to be on the "highly sensitive" product list and therefore subject to some tariffs.
KSL president and chief executive officer Chamroon Chinthammit said that although the AEC will eliminate many tariffs when it becomes effective in 2015, sugar will continue to be subject to tariffs of 5-10 per cent in Malaysia, Indonesia and the Philippines, down from 25-38 per cent currently.

"We started to expand our business in Asean five years ago by setting up plants and acquiring land to grow sugar cane in Laos and Cambodia. We are also interested in expanding in Myanmar when there is a clear picture on its laws for foreign investors," he said.

If the revised foreign investment law clears the way, the company is ready to expand into that country, he said.

"If we decide to expand [into Myanmar], we will spend at least US$100 million [more than Bt3 billion] to build a new plant there. It may take three to five years after the [amended] foreign business law in Myanmar takes effect," Chamroon said.

He added that up to 80 per cent of KSL's export income came from Asia countries, including Asean members, China, Japan and South Korea. The company exports 60 per cent of its total production and markets the rest in Thailand.

"We export little to Europe, so the euro crisis has not affected our business," Chamroon said.

Currently, KSL Group focuses on four businesses. The first is sugar, for which it has six firms in Thailand, Laos and Cambodia. The three Thai companies are Tamaka Sugar Industry Co, Ne Krung Thai Sugar Factory Co and New Kwang Soon Lee Sugar Co. Cambodia has Koh Kong Plantation Co and Koh Kong Sugar Industry Co, while the sixth company is in Laos, Savannakhet Sugar Corporation.

The other three businesses are sugar support, energy and chemicals, and property.

The sugar-support businesses are Thai Sugar Terminal, KSL Export Trading Co and KSL Agro Co. The energy and chemical businesses are Khon Kaen Alcohol Co, Khon Kaen Sugar Power Plant Co and KSL Chemical Co. Its property business is KSL Real Estate Co.

Khon Kaen Sugar Industry posted total revenue of Bt11.47 billion and net profit of Bt1.08 billion in the first half of its fiscal year (November 2011 to April 2012).

[schmithi]

post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 TIPCO
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Tipco seeks to boost brand awarness in Asean markets
KWANCHAI RUNGFAPAISARN
THE NATION July 17, 2012 1:00 am
Tipco Foods (Thailand) aims to double the sales contribution from Asean markets to 20 per cent over the next two years under its strategy to promote awareness of Tipco brand fruit juices at the regional level.
Tipco wants to be well placed to cash in on the Asean Economic Community when it becomes fully effective in 2015.

Ekaphol Pongstabhon, the company's new managing director, said Tipco would focus primarily on two markets in the region, Indonesia and the Philippines, because of their large populations, 240 million and 100 million respectively.

"What we want to do is send the right product and the right message into these countries. To achieve that, we need to understand the consumers and the market mechanism itself. We have been conducting market research in cooperation with our distributors in those countries to access insights on consumer [behaviour] and see what room is available in the marketplace," Ekaphol said.

He said the company could not rely on applying business formulas that were successful in Thailand in other markets in Asean as they had their own characteristics.

Tipco Foods has been in the canned-fruit and fruit-juice business in Thailand for almost 20 years. The company achieved Bt5 billion in sales last year, half of which were from beverage products. Of that, 70 per cent came from fruit juice, 20 per cent from Aura mineral water, and 10 per cent Mirai ready-to-drink green tea.

The company posted 15-per-cent growth in sales in the first six months of this year compared with the same period last year.

"We have set up a vision of doing business for the health of Thai and Asean people. We also want to be a regional player in the branded fruit-juice sector," Ekaphol said.

Tipco is highly recognised by Thai consumers, with more than 90-per-cent brand awareness. However, few consumers in the Philippines, for instance, are familiar with the Tipco brand.

"What we want to do initially is to create awareness of the brand in potential markets in Asean and promote market accessibility in those countries," Ekaphol said.

Tipco has a total marketing budget of about Bt200 million this year, of which about 5 per cent will be allocated to international markets, especially Asean. However, the company will allocate a higher amount for marketing in Asean next year.

[schmithi]

post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
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Securities house forecasts profit boom for Thai banking sector
THE NATION July 17, 2012 1:00 am
Asia Plus Securities is overweight on the Thai banking sector, forecasting a 25-per-cent increase in annualised net profit this year against the relatively low price to book value (PBV) compared with regional peers.
The house expects 10 banks it monitors to post a combined net profit of Bt161.78 billion this year, up from Bt129.38 billion last year. Still, their share prices are considered low, reflected through the PBV of 1.7 times, compared with 1.9 in the past year.

"Now the Thai banking sector has PBV in 2012 at 1.7 times, slightly higher than the regional average of 1.5 times but still lower than PBV of above 2 times of banking sectors in such countries as Indonesia, Malaysia and the Philippines, which has been driven by healthy GDP growth as supported by the government investment projects to boost private investment, which is similar to the case of Thailand," it said.

Led by Tisco Financial Group, banks are expected to release their second-quarter results this week. Asia Plus Securities expects Siam Commercial Bank (SCB) to lead the pack, with the forecast first-half earnings of Bt20.9 billion, followed by Kasikornbank's Bt18.11 billion and Bangkok Bank's Bt16.59 billion.

Still, in terms of growth rates, LH Bank will lead the pack with 35.7 per cent, followed by KBank's 34.8 per cent and Bank of Ayudhya's 23.2 per cent. Expecting aggregate first-half net profit to expand by 14.3 per cent from the same period last year, Asia Plus Securities believes that the second-half growth rate will be 25.5 per cent.

Since the beginning of the year, the banking sector index has increased by 26.3 per cent, outperforming the market average of 18 per cent, thanks to robust growth of the core businesses. These are loans (corporate, SME, retail, and especially car leasing, as many banks could set monthly records in loan issuance given recovering domestic car sales) and fee income (from loan transactions and non-loan-related businesses such as bancassurance, fund unit sales, credit cards and car hire-purchase).

Despite the flood crisis, the majority of banks continued to show record profits.

Growth is assured in the second half, which is the high season for loans to small and medium-sized enterprises and retail lending.

Meanwhile, demand for corporate loans has grown continuously thanks to companies' business expansion, working-capital preparation, overseas investment (to prepare for business opportunities from the Asean Economic Community) and preparation for mergers and acquisitions of big companies in Europe and North America.

In its report released on June 25, CIMB Securities (Thailand) was also overweight on Thai banking stocks. The sector's loan growth reached 5.1 per cent in the first five months of this year, which was on track to reaching its full-year target of 11 per cent.

Tisco and SCB were highlighted as growth outperformers, while growth continued to gather pace at KBank, it said.

[ThaiClaus]

Antwort auf Beitrag Nr.: 43.392.479 von schmithi am 17.07.12 05:55:58

post 190 EGCO, CPF
post 191 BANPU, THAI
post 192 PTTEP, PTT
post 193 SCBLIF (früher SCNYL)
post 194 CPN, TUF
post 195 LH
post 196 RATCH, PTTEP
post 197 TRUE
post 198 TUF
post 199 PTTGC
post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
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INSURANCE

Strong first half for SCB Life Assurance
Published: 18/07/2012 at 02:01 AM Newspaper section: Business Share
SET-listed SCB Life Assurance Plc reported robust performance in the first half of 2012, with 34% growth in new sales and a 30% rise in total premiums.

According to managing director Vipon Vorasowharid, SCB Life in the first half achieved total annualised first-year premiums (AFYPs) from all distribution channels of 7.763 billion baht, up 34% compared with the same period last year.

Among all distribution channels, bancassurance distribution through Siam Commercial Bank's branches remains the top performer, reporting 6.916 billion baht in AFYPs, up 53% year-on-year.

Credit life sales soared 116% as a result of growth in housing, auto leasing and SME business expansion. Individual new life sales grew 23%, leaving the bancassurance sales portfolio balanced with 48% from individual life and 41% from credit life.

Meanwhile, new sales from special market distribution _ credit life, work site, Tesco Lotus, telesales _ reached 467 million baht, and sales from agency distribution hit 380 million.

Renewal premiums grew 18% to 11.403 billion baht, and total premiums reached 18.873 billion, a rise of 30% year-on- year, outpacing industry growth of 17%.

"The first-half result was better than expectations," said Mr Vipon, "and we were very happy with this strong growth, thanks to the strong sales force and well-rounded marketing strategy, particularly the effective and smooth synergy with our parent company."

According to statistics from the Thai Life Assurance Association, SCB Life from January to May ranked third in new business premiums and fourth in total premiums.

Shares of SCBLIF on the SET closed yesterday at 716 baht, up four baht, in trade worth 2.79 million baht

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 SCC & SCCC
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[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
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SCG aims half of 2013-17 investment at Asean
Watcharapong Thongrung
The Nation July 20, 2012 1:00 am
Half of Siam Cement Group's investment of Bt200 billion from 2013 to 2017 will be in Asean countries, Kan Trakulhoon, president and chief executive officer of SCG, said yesterday.
The investment plan will be proposed to the SCG board for approval next month.

Thailand has attracted less foreign direct investment than other Asean countries such as Singapore, Indonesia, Malaysia and Vietnam, he said, calling for the government and private firms to invest more in research and development to increase competitiveness.

He said SCG had invested about Bt2 billion in R&D and innovation this year, up from Bt1.1 billion last year. The investment has increased its value-added products to 32 per cent of the total product line. These high-value-added products generate 50 per cent of revenue, he said at a seminar for TMA Day, held by the Thailand Management Association.

SCG invested Bt40 million in 2004 in R&D to increase its high-value-added products, which at that time represented only 4 per cent of the company's product lines. Currently the government invests only 0.2 per cent of gross domestic product in R&D, but needs to increase that proportion to 1 per cent, otherwise the country will lose competitiveness, he suggested.

Tewin Wongwanich, president and CEO of PTT Exploration and Production, said the company planned to invest more in technology and green products. To that end, PTTEP has appointed a chief technology officer. It plans to invest about 3 per cent of profits in technology and innovation and another 1.5-3 per cent in environmental protection and community programmes, he said.

Somprasong Boonyachai, president and CEO of InTouch, formerly Shin Corp, said the company had focused on innovation across its value chain ranging from fund-raising to customer services.

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SCCC outlook stable, Fitch reports
The Nation July 20, 2012 1:00 am
Fitch Ratings (Thailand) has affirmed Siam City Cement's national ratings at long-term "A(tha)" and short-term "F1(tha)". The outlook is stable.

Fitch has affirmed SCCC's senior unsecured debentures at "A(tha)".

SCCC's ratings reflect its leading position as the second-largest cement producer in Thailand, with strong brands in cement, ready-mix concrete and wood replacement products, the agency says. This has helped the company to maintain its domestic cement market share at about 27 per cent in the past 10 years.

One of its majority shareholders, Holcim ("BBB"/Stable), provides operational support and a strong global marketing network, helping to underpin SCCC's exports.

SCCC has maintained financial leverage at low levels relative to peers, with net adjusted debt to Ebitdar (earnings before interest, tax, depreciation, amortisation, and rent) below 1.0 time from 2004 through 2011. Strong cash flow from operations is likely to keep net adjusted debt to Ebitdar below 2.0 over the medium term despite expected increasing capex and high dividend, Fitch said.

SCCC's profitability is highly sensitive to energy prices, as fuel and transport costs account for about half of its total cash costs, it said. Excess cement capacity in the domestic market also constrains the company's ability to pass on rising costs to customers, but its cost-saving measures such as increasing usage of alternative fuel, waste-heat generators and machine-efficiency improvement could partly ease the pressure from rising energy costs.

SCCC's business profile is tempered by its earnings concentration within the domestic market, which accounted for more than 80 per cent of its total Ebitda last year, despite increasing exports to neighbouring countries. Excess domestic capacity also leads to price competition from time to time, constraining the company's profitability.

Fitch says future developments that may, individually or collectively, lead to positive rating action include a significant increase in operating scale and geographical diversification, along with sustained low financial leverage and no material deterioration in its business profile.

Future developments that may, individually or collectively, lead to negative rating action include significant deterioration in credit metrics with net adjusted debt to Ebitdar higher than 2.0 and a sharp decline in operating profits for a prolonged period.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
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Shareholding structure of DTAC revamped

USANEE MONGKOLPORN
THE NATION July 24, 2012 1:00 am
Changes in the shareholding structure of Total Access Communication (DTAC) are aimed at reducing the risk of breaching the Thai foreign business law and resolving any regulatory uncertainties, as well as maintaining the economic interest of Norwegian strategic partner Telenor in the firm, according to a telecom analyst.
The changes were communicated to the Securities and Exchange Commission on Friday and made public in a Telenor Asia statement issued yesterday.

Under the new structure, the Bencharongkul family, which founded DTAC, will own about 13.21 per cent in Thai Telco Holdings via three newly established firms - BCH Holdings, BCTN Innovation and BCTN Holding - and will also indirectly own 2 per cent of DTAC, one analyst said.

Under the new structure, the combined indirect and direct control of Telenor in DTAC has been reduced to 61.99 per cent from the previous 65.45 per cent, the analyst said.

The head of Telenor Asia, Sigve Brekke, yesterday denied speculation that no payment was involved in the restructuring, but he declined to specify the value.

BCH Holdings was established in April, while BCTN Innovation and BCTN Holdings were set up last month.

According to yesterday's Telenor Asia statement, Thai Telco Holding announced the restructuring of the company's shareholding structure.

Under the new structure, the newly set-up investment company - majority owned by Bencharongkul family - will invest in an entity that holds 51 per cent of Thai Telco Holding, while Telenor Group continues to own 49 per cent directly.

"The Bencharongkul family has made the investment decision based on a strong belief in the market potential of the mobile industry and in the effectiveness and global experience of the management team of DTAC," the statement said.

Telenor Asia owns an unchanged 42.62 per cent of DTAC, while Thai Telco owns 22.42 per cent, also unchanged. Previously the parent company, Norway's Telenor, owned 49 per cent of Thai Telco, while Borelo owned 31.2 per cent and DTAC founder Boonchai Bencharongkul owned 9.9 per cent. DTAC has posted second-quarter revenue of Bt21.6 billion, up 9.8 per cent year on year. Net profit for the period amounted to Bt2.8 billion, down 6.5 per cent year on year

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Prinsiri plans seven residential projects worth Bt4 billion
THE NATION July 23, 2012 1:00 am
Property firm Prinsiri plans to launch seven new residential projects worth Bt4 billion in the second half of this year
Five of seven new projects are low-rise residences, including single detached house, and townhouse, and the other two projects are condominium projects.

The company's senior director, Chairat Kovitjindachai, said that the new projects were an attempt to boost pre-sales to Bt3.2 billion by the end of this year.

He said the company had also revised up its sales price about five per cent in the second half of this year compared with the first half due to a rise in labour cost and construction raw material prices. This would boost its net profit over last year.

Prinsiri showed net profit of Bt203 million at the end of 2011.

Meanwhile, the company reported total revenue of Bt781.96 million and net profit of Bt135.67 million in the first quarter of this year.

Chairat said the company's business strategy in the next three years would continue to focus on low-rise residences, which will generate at least 70 per cent of its total revenue, while 30 per cent will come from condominium projects.

Meanwhile, DBS Vickers Securities (Thailand) recommended "buy" for Prinsiri's shares as the current price did not reflect the company's financial performance. It has a target price of Bt1.96 per share.

Asia Plus Securities also recommended buy with a target price of Bt1.76 per share as the company believed Prinsiri would pay average dividend of 5.6 per cent a year.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
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TUF net jumps 21% in 1st half despite euro
The Nation August 10, 2012 1:00 am
Thai Union Frozen Products showed net profit of nearly Bt2.5 billion in the first half of this year, up 21 per cent from the same period of 2011, after the company expanded in Asia, Europe and the United States.
TUF president Thiraphong Chansiri said that although Europe faced an economic crisis, it did not affect the company's business because of its strategy to balance its portfolio both domestically and overseas. The company is also confident of continued growth in the current second half.



However, he acknowledged: "Europe's crisis will challenge our business expansion."



TUF took over MW Brands, a European seafood company headquartered in Paris, in 2010. Thiraphong said the investment had shown benefits, as MW Brands had continued to record growth in both sales and net profit.



He said the company planned to upgrade its Select and Fisho products with new packaging and logos as it exports both brands to Asean states, especially Myanmar, Vietnam, Laos and Cambodia.



The company is also looking into expanding in South America, the Middle East and Africa, he said.



Yesterday the company's board of directors approved an interim dividend of Bt1.10 per share based on its financial results in the first half.



TUF announced revenue of Bt52.55 billion for the first six months, up 9.7 per cent from the same period last year, and net profit of Bt2.46 billion, up 21 per cent.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
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Banpu cutting operating costs, defferring investment to maintain stable earnings
THE NATION August 15, 2012 1:00 am
Banpu yesterday set out plans for dealing with a weaker coal price environment, while posting second-quarter earnings that rose 2 per cent year on year to Bt7.23 billion thanks to strong output growth in Indonesia and its power business.



"Our strategy places heavy emphasis not just on growth, but on sustainable growth. That means a proactive approach to risk management, contingency planning and financial management," said CEO Chanin Vongkusolkit.

Given the current market conditions, Banpu will also now take additional action to reduce operating costs and postpone some capital expenditure, he said.

This should ensure the impact on earnings of further coal price weakness is minimised and that the company maintains a strong balance sheet, he added.

The reason for maintaining stable earnings is that increased revenue has offset some temporary operational issues at Centennial in Australia, as well as a weaker seaborne coal market environment.

In Indonesia, although Banpu's average coal selling price was down to about US$95 (Bt2,985) per tonne in the second quarter, coal sales increased by more than 1 million tonnes compared to the first quarter on the back of higher output from the Indominco and Trubaindo operations.

Total Indonesian coal output was 6.8 million tonnes in the period, and the company is targeting more than 7.2 million tonnes in the current quarter and around 27 million tonnes for the full year.

The contribution to Banpu's earnings before interest, tax, depreciation and amortisation (Ebitda) from Indonesia increased 2 per cent quarter on quarter to Bt4.89 billion.

Meanwhile, Centennial's production was down to just under 3 million tonnes due to an extended long-wall changeover at Mandalong and some poor geological conditions at Springvale.

As a result, the Ebitda contribution from Australia fell by 25 per cent versus the first quarter, to Bt1.25 billion.

Centennial expects full production at its main long-wall operations of Angus Place, Mandalong and Springvale and total output for the year of more than 15 million tonnes.

Banpu's power business achieved a 78-per-cent increase in Ebitda contribution to Bt848 million in the second quarter, thanks mainly to increased availability payments and cost improvements at BLCP.

In Laos, the Hongsa coal-fired power-plant project reported 20- per-cent construction progress and is on schedule for first commissioning by 2015.

Banpu's net profit after tax was 2 per cent down on the first quarter, at Bt2.73 billion.

With reference to operating cost and capital expenditure reduction plans, Chanin said the impact on the company's coal reserves should be minimal and that Banpu's drive for organic growth would continue.

The company is now targeting consolidated coal output of about 55 million tonnes by 2015, up from around 40 million tonnes in 2010.

Banpu is a leading coal-based energy producer with coal and coal-fired power businesses in six countries across the Asia-Pacific: Thailand, Indonesia, Australia, China, Mongolia and Laos.

The company is listed on the Stock Exchange of Thailand.


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Ratch upbeat over landing IPP contracts
WATCHARAPONG THONGRUNG
THE NATION August 15, 2012 1:00 am
Ratchaburi Electricity Generating Holding is |gearing up for the next round of independent power producer (IPP) bidding, convinced that it can snatch contracts for the supply of at least 1,800 megawatts.



The Energy Ministry announced earlier that it would award contracts to six IPPs for the combined supply of 5,400MW. Bidding is scheduled to take place next year.

Ratch chief executive officer Noppol Milinthanggoon said yesterday that the company had prepared two plots of land at its existing plant area for the construction of new facilities, each with a capacity of 800MW-900MW.

The listed company has also sought additional locations, but he acknowledged that it was difficult to win approval for IPP plant establishment at new sites, given growing public opposition to such projects.



PARTNERSHIP

Noppol said he believed the government would relax some of the rules in the new IPP bidding round in order to make it easier for Ratch, in which the Electricity Generating Authority of Thailand (Egat) holds a major stake, to participate and benefit national electricity security.

Ratch is ready to partner with any strong potential companies wishing to take part in the bidding, he added.

The company was barred from previous IPP bidding back in 2007, given its 45-per-cent ownership by Egat, which in effect is the sole purchaser of power from all producers.

Coupled with the Omsin Fund's 1.5-per-cent holding and the Social Security Fund's 4.68-per-cent stake, Ratch is majority-owned by government agencies and thus considered a state enterprise.

Besides Ratch, giant firms |such as PTT Utility, Thai Oil and IRPC are reportedly interested |in contending in next year's bidding.

Meanwhile, Ratch's second-quarter operating results, according to the consolidated financial statements of the company and its subsidiaries, showed a profit of Bt3.296 billion, up Bt1.405 billion or 74.28 per cent compared to earnings of Bt1.891 billion over the same period last year.

Besides its power plants and related businesses in Thailand, overseas operations including the Nam Ngum2 hydro-power plant EDL-Generation, both in Laos, and Ratch-Australia Corp (RAC) generated significant revenues to the company.



MILESTONES

Project-progress milestones |in the first six months of the year included the power-purchase agreement of the Xe-Pian Xe-Namnoy hydro-power project |in Laos, expected to be signed with Egat in the current quarter; the Huay Bong 3 wind farm's completion of the installation of 17 turbines; and 10 out of 11 solar farms becoming operational and distributing electricity to the Provincial Electricity Authority.

During the first half, the company exercised more than Bt3 billion worth of investment from its Bt7-billion fiscal budget.

Ratch also realised Bt 2.25 billion in revenue from its investment restructuring in the Loy Yang-A and Collinsville coal-fired power plants in Australia, as well as its return on investment from RAC. In addition, the company gained Bt106 million from EDL-Generation dividends.

RAC, a subsidiary in which the company holds an 80-per-cent stake through RH International (Singapore) Corp, has also accepted a proposal to terminate the Collinsville power-purchase agreement as offered by the plant's off-taker, Stanwell Corp, according to Ratch's filing to the Stock Exchange of Thailand yesterday.

RAC will receive 99.57 million Australian dollars (Bt3.29 billion) in compensation.

Collinsville, a 40-year old Queensland plant with a generating capacity of 180MW, is wholly owned by RAC. The terminated power-purchase agreement was due to expire in 2016.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
*******************************************************************************

KTB keen to open branches in Myanmar, Vietnam
SUCHEERA PINIJPARAKARN
THE NATION August 16, 2012 1:00 am
Thanks to the planned hike in capital from Bt57.6 billion to Bt72 billion, Krung Thai Bank believes that it will have enough financial muscle to serve non-Thai customers such as state agencies in Myanmar and Vietnam through future branches there.

"The bank wants to expand its business in the Asean Economic Community via branches rather than representative offices to offer a full range of financial services, not just currency services," Kittiya Ttodhanakasem, a senior executive vice president at KTB, said yesterday.

In Myanmar, KTB is opening |a representative office, but wants |to upgrade it into a branch when regulations there permit it.

With representative offices, Thai banks are limited in the services they can provide in Myanmar.

The Central Bank of Myanmar is expected to amend its regulations to allow foreign banks to set up branches because it is studying |the financial regulations in the region.

"We expect Thai customers and their partners will need credit for cross-border trade, while KTB, which is a state-run bank, can play a role in providing loans to state agencies in each country in Asean," she said.

The Bank of Thailand recently approved KTB's request to open a branch in Vietnam. KTB is applying for a branch licence to the State Bank of Vietnam, that country's central bank.

The model in Vietnam is similar to Myanmar in that the branch will extend credit services to Vietnam's state agencies including the central bank if they want to borrow from a Thai bank.

KTB has set up a representative office in Vietnam but the political situation there does not appear to support the banking business, Kittiya said.

"The economy in Vietnam has changed. Vietnam is one of the high-potential countries in Asean because the country has reformed its banking industry, while growing trade between Thailand and Vietnam is fuelling demand for loans," she said.

"When the central bank of Vietnam gives a licence to KTB, the bank will go ahead with setting up the branch," she said.

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Property firms see results dip in first half despite Q2 recovery
SOMLUCK SRIMALEE
THE NATION August 16, 2012 1:00 am
Although the property market showed signs of a post-flood recovery in the second quarter, financial results for the first six months of the year were still lower than in the same period of 2011.


Most property firms reported to the Stock Exchange of Thailand that the reason for this was that they could not deliver homes to customers on time, while some of them faced stiff increases in labour and construction costs. However, they did benefit from the reduction in corporate tax from 30 per cent to 23 per cent.

Land & Houses senior vice president Adisorn Nanthanarapool said net profit in the first half was lower than in the same period last year, when its profit was boosted by its sale of a major stake in Bangkok Chain Hospital in the first quarter of 2011. While the company benefited from setting up a property fund in the first quarter of this year, there was no extra income in the period like last year, so net profit in the first half of 2012 was lower.

However, if net profit were calculated from core business only, which is developing homes for sale, the first-half net would post growth of 19.8 per cent year on year, Adisorn said.

Property Perfect chief executive officer Chainid Ngowsirimanee said management costs rose 47 per cent in the second quarter compared with the same period last year. That had an impact on the company's net profit in the first half, which was lower than in the first six months of 2011.

Sansiri, by contrast, reported higher net profit in the first half than in the same period last year, thanks to completion of its condominium projects and transfer to customer in the 2012 period, company president Srettha Thavisin said.

Raimon Land CEO Hubert Viriot said the company started to transfer The River project to its customers in the second quarter, which boosted revenue, and net profit showed strong growth in the first half.

"The River will also drive revenue and net profit in the second half of this year," he said.

An analyst at Asia Plus Securities said that although listed property firms showed lower net profit in the first half of this year than in the same period of 2011, they had potential to boost results in the second half as their backlogs are delivered to customers. This would amount to a total of nearly Bt100 billion for the 15 leading property firms listed in the SET.

"We still suggest investing in the property sector, as their share prices are lower than their fundamentals [indicate], and their financial results will show strong growth in the second half of this year," the analyst said.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
*******************************************************************************

Egco takes 40percent stake in indonesian coal mine


The Nation
August 17, 2012 1:00 am
Electricity Generating (Egco Group), Thailand's first independent power producer, announced investment in an Indonesian coal-mine project by acquiring a 40-per-cent ownership interest in Manambang Muara Enim project ("MME") for US$197 million (Bt6.2 billion).



Sahust Pratuknukul, Egco Group president, said yesterday that the company had signed the Share Purchase Agreement to acquire a 40 per cent ownership interest in the MME project, and will become a partner of Indonesian company PT Alam Karya Nusantara. The total investment for this project is $197 million, which accounts for 5.98 per cent of Egco Group's total assets.



MME is an open-pit coal mine located in Muara Enim Regency, South Sumatra, with a concession licence from the government for 28 years - from March 2010 to March 2038. The operating area covers 1,587 hectares. MME has been operating since March 2010.



"The investment is in line with Egco Group's strategic plan to expand our business towards the integrated energy business to enhance stability of fuel supply in the long run. Additionally, it will strengthen Egco Group's presence in Indonesia and we expect it should provide opportunities for growth in the future," he said.



PT Alam Karya Nusantara is an Indonesian company with an established portfolio of coal mining concessions in Indonesia. Starting in 2010, it has been delivering coal to both domestic and export markets. Its South Sumatra coal concession is well positioned to serve growing coal markets such as China, India, Southeast Asia and other Asian countries.

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PTTGC to revise Bt347 bn,10-year investment plan
Watcharapong Thongrung

The Nation
August 17, 2012 1:00 am
PTT Global Chemical (PTTGC) will revise its 2011-20 investment plan worth US$11 billion (Bt347 billion) as a result of the euro-zone debt crisis and concerns over a slowing global economy.
Anon Sirisaengtaksin, chief executive officer of the major petrochemical and refinery company, said yesterday that it would re-prioritise spending. The projects it is still focused on include those involved in the expansion of production capacity and environmentally related schemes.



PTTGC will also trim its operational expenditure this year to Bt9 billion, a Bt1-billion reduction, he added.



He believes that the company's financial performance in the second half of this year will be better than in the first six months.



He estimated that the average Dubai crude-oil price this year would be $100 per barrel.



PTT, which owns about 48.9 per cent in the company, has recently raised the price of natural gas it supplies to PTTGC as a raw material for petrochemical production. This has raised PTTGC's raw-material cost by 8 per cent, but it can still maintain its competitiveness, Anon said.



He said the new gas price would be valid through 2020, which would make it easier for PTTGC to lay out a business plan.



PTTGC was formed by the amalgamation of PTT Chemical (PTTCH) and PTT Aromatics and Refining (PTTAR), and was registered as a new entity last October 19.



In the second quarter of this year, PTTGC and its subsidiaries posted net profit of Bt851 million, down by 90 per cent from the same period last year and down 91 per cent from the previous quarter.



Anon said PTT planned to transfer all of its combined shares in the group's other petrochemical firms to PTTGC, which would make the company the full flagship of PTT in the petrochemical-product business.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
*******************************************************************************

Indorama Ventures
IVL plans no takeovers for 18 months
Sanicha Lakornpol

The Nation August 24, 2012 1:00 am
Indorama Ventures, a holding company focusing on fully integrated petrochemical products, has no plan to invest in any related business over the next 18 months.
The company needs time to upgrade its production lines.

Its business has not been hurt by the euro debt crisis and global economic slowdown, as most of its products are used in the making of consumer goods and especially their packaging, which is not sensitive to economies' performance.

"The company has acquired a number of businesses, so this time should be spent on improving production processes to have ultimate efficiency," chief executive officer Aloke Lohia said yesterday.

"After the middle of next year, the company will look for new business acquisitions."

The main targets will still be businesses related to purified terephthalic acid (PTA) and polyethylene terephthalate (PET), which could help increase its cash flow, he said.

Initially, the company has allocated Bt800 million of the budget for production-bottleneck improvement to increase capacity to 8 million tonnes a year in 2014 from 6.5 million tonnes currently.

IVL's core products are PET, polyester fibre and yarn, and PTA.

This year, the company expects revenue to reach US$8 billion (Bt250 billion), up 25 per cent from last year and 20 per cent higher than its earlier target.

The key drivers of revenue growth are capacity expansion at facilities in China, the Netherlands and Lop Buri and the acquisition of Polypet Karyapersada in Indonesia early this year, which will add 500,000 tonnes to its PET capacity in the current half.

The Lop Buri plant is now running at full speed after slowing down after the flood last year

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
*******************************************************************************

Recap delay add questions on PTTEP's expansion

Watcharapong Thongrung, Warin Tarino
The Nation August 25, 2012 1:00 am

PTT Exploration and Production's decision to postpone its extraordinary shareholder meeting originally set for yesterday raises questions as to when and how PTTEP's recapitalisation will go ahead, as minor shareholders question the massive fund-raising as well as the rationale for the company's takeover of Cove Energy.


A PTTEP source said investors questioned the Cove Energy acquisition, as it requires US$2.2 billion (Bt69 billion) for an 8.5percent stake in the Rovuma petroleum field off Mozambique, which promises proven reserves of 60 trillion cubic feet. With the small stake, Cove is not the main operator and its rights over the field are in question, as is how long it will take for the investment to break even.

In terms of national energy security, again given the small stake, there are also questions how PTT and Thailand can utilise gas from the far-away field and how reasonably it will be priced when it is available here.

PTTEP's takeover of UK-based Cove Energy is considered by some too large an investment for a low anticipated return. According to the source, some investors also questioned whether this was politically motivated, as the acquisition was completed after PTT Group's executive restructuring.

They also questioned whether PTTEP would need new capital for further development in the Rovuma field and others shared by Cove Energy.

Saying that it needs some time to explain the issues of the recapitalisation to 60 per cent of nonPTT shareholders, including foreign ones, management will propose a new timeline for the shareholder meeting at the next board meeting in 45 days. It remains in question whether the delay would derail the overseas investment plan of the company, which contributed more than 60 per cent of earnings to PTT in 2011.

Maybank Kim Eng Securities (Thailand) said the postponement would have a psychological impact on the company's share price in the next month or two, pending possible change in the recapitalisation structure.

Earlier, the recap was expected to be completed in November. Management acknowledged that PTTEP could risk a downgrade if the recap failed, but operations should stay intact for the next three years. Still, it might derail the target to raise capacity to 900,000 barrels a day by 2020.

At an analysts' meeting yesterday, Tevin Vongvanich, president and chief executive officer, acknowledged that shareholders he met during a recent roadshow on the Cove deal expressed concerns about the structure and size of the recapitalisation, the acquisition of Cove Energy and further fundraising needs if the firm is to achieve its production target of 900,000 barrels a day. He said the company had yet to give more information to nonPTT shareholders, particularly foreign ones.

Bualuang Securities said in a research note that the most troubling issue for minority shareholders was probably PTTEP's de facto rightsoffering structure, which raised concerns about the possibility of some shareholders receiving preferential treatment over stock allocations.

It said it was worth noting that the structure of the recapitalisation and bookbuilding methodology will require approval from 75 per cent of the nonPTT shareholders that attend the meeting.

Executives said the firm might review the current structure to realign it to take concerns into account, particularly with regard to American shareholders.

PTTEP earlier planned to host the extraordinary shareholder meeting to approve the recapitalisation yesterday. It plans to issue 650 million shares: 403.4 million to be offered to PTT - the major shareholder with 65.29 per cent - and the remaining 214.4 million to the public.

Despite management's confidence that the recapitalisation will take place before the end of this year, Bualuang Securities said it was likely that the date would slip back to next year because of procedural amendments. If it happens after the Montara field in Australia resumes operations, sentiment will be boosted. But if the resumption is delayed further, the cash call might conceivably be derailed.

"If the fundraising effort were to consume more time than PTTEP envisages - particularly if the recapitalisation procedure must be changed - there could be risk of a creditrating downgrade," the securities house said. "PostCove acquisition net gearing will rise to 0.60.7 time (from 0.4), which would be above its 0.5-time policy threshold.

"Management claims that the rating agencies agreed to hold their ratings unchanged for as long as the recap plan remains underway."

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
*******************************************************************************

PTT offers $900m for control of Sakari
The Nation August 28, 2012 1:00 am
Energy giant presses ahead with huge foreign investments


PTT's US$900-million (Bt28.1 billion) offer for the remaining shares in Singapore-listed Sakari Resources is the latest massive overseas investment by the national oil and gas company to have raised global investors' eyebrows.

The offer, announced yesterday, follows the $2.2-billion investment in UK-based Cove Energy by PTT Exploration and Production (PTTEP), which is 65.29 per cent-owned by PTT and a major contributor to the group's earnings.

In March, PTT Asia Pacific Mining, 60 per cent owned by PTT International - the group's international investment arm - and 40 per cent by Sakari Resources, also invested $50.16 million for the remaining shares in Red Island Minerals, which owns a mining licence in the Sakoa Coal Field project in Madagascar.

"The [latest] offer reflects PTT's intention to increase its investment in Sakari Resources and enhance its strategic growth in the coal business. PTT Mining [wholly owned by PTT International] does not currently intend to maintain the listing status of Sakari Resources, if Sakari's free float falls below 10 per cent, as required," PTT president and chief executive Pailin Chuchottaworn said in a statement to the Stock Exchange of Thailand, referring to the offer for Sakari Resources. "However, PTT Mining reserves the right to re-evaluate its position at the relevant time, bearing in mind the ultimate level of acceptances received by PTT Mining and the prevailing market conditions."

Under the deal, PTT Mining has voluntarily made an offer for 55 per cent of Sakari Resources. Through PTT Mining, the Thai energy giant currently holds 45.27 per cent in Sakari, which operates coal mines in Indonesia.

The share prices of PTT and Sakari Resources rose after the deal was announced. PTT ended the day at Bt333, 0.60 per cent higher, while Sakari closed 27.18 per cent higher at S$1.90 in Singapore.

PTT's offer is S$1.90 for each share of Sakari Resources. The offer is conditional, as PTT Group seeks to win more than 50 per cent of the voting rights in the company. The transaction is expected to be completed by October.

Bualuang Securities said in a research note that the price was reasonable.

Though the offer price is 27 per cent higher than Sakari Resources' closing price on Friday, it is equal to the stock's 52-week average.

"We think it's reasonable, given the scope for reserve upgrades and production growth. Production is targeted to rise to 14 million tonnes in 2013 and to 17 million tonnes in 2014, from 12 million tonnes in 2012," the securities house said.

According to Bualuang, the price implies US$12 per reserve tonne of coal, doubling the price paid at the entry and more than Banpu's current implied price of $9/reserve tonne.

"In our view, the high offer price is for absolute control of Sakari Resources, which has vast coal resources [that need to be developed into reserves]. Based on 2011 coal resources of 1,505 million tonnes [more than double the 2008 level of 638 million tonnes], the cost is only $1.16/resource tonne, comparable with PTT's initial acquisition price in March 2009," it said.

The acquisition will push PTT's net debt/equity ratio up slightly to 0.61 time, from 0.56 at end-June.

Bualuang noted that if the burden to subscribe for PTTEP's new shares is included, the net debt/equity ratio could rise further to 0.72 time, which would still be comfortably below its policy threshold of 1 time.

It was in 2010 that PTT first announced an investment in Sakari Resources, formerly known as Straits Asia Resources, paying Bt16.6 billion for a 45-per-cent stake.

PTT intends investing Bt720 billion overall during the next five years, mostly via PTTEP, which plans to issue 650 million new shares to raise nearly Bt93 billion. The recapitalisation, now delayed, will help maintain its debt/equity ratio below the threshold, or it would risk a credit-rating downgrade.

Amid concerns over PTTEP's massive investment, Standard & Poor's Ratings Services said in a report titled "What's the Credit Impact of PTT Exploration and Production's Growth Strategy?" that PTTEP's credit rating and outlook remain unchanged at "BBB" with a negative outlook, after the Cove acquisition.

"Our ratings already factor in an acquisition of this magnitude and the associated additional debt. PTTEP's business risk profile is also unlikely to improve in the short term because Cove's assets are still in the exploration stage and are not reflected in the company's reserves profile," said S&P credit analyst Andrew Wong.

"The capital-raising may not necessarily lead us to revise the rating outlook to stable from negative, and may not be sufficient to reduce PTTEP's reliance on debt to fund future growth. While this [recapitalisation] can adequately cover the cost of the Cove acquisition, we believe PTTEP may still require additional debt to fulfil its stated growth plans of boosting production to 900 thousand barrels of oil equivalent per day by 2020," he said.

S&P expects PTTEP's recent acquisitions and growth strategy to improve the company's business and financial risk profiles in the long term. Nevertheless, such improvement could come at the expense of the company's financial risk profile in the interim.

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SCG offers Bt10 bn for Siam Global House
THE NATION August 28, 2012 1:00 am
Siam Cement Group is expanding into building-material retailing by offering Bt10 billion for a stake in Siam Global House, an industry leader through its "warehouse" stores.


Siam Global House stocks a wide range of products, including building materials and decorative products, appliances and equipment for construction and maintenance, as well as housing, building and landscape decorations.

SCG, through its wholly owned subsidiary SCG Distribution Co, will become the second-largest shareholder of Siam Global House after the Suriyawanakul family.

SCG Distribution on Sunday signed a deal to take a stake of 30.01-33.4 per cent in Siam Global House, according to Siam Cement's filing yesterday to the Stock Exchange of Thailand.

The purchase is to be structured as a private placement of 224 million shares at Bt14 per share and a partial tender offer for 391 million to 467 million shares at Bt14 each and 47.5 million to 55.6 million warrants at Bt9.30 per warrant.

The retail business for building materials is expected to enjoy high rates of growth due to changing consumer behaviour. SCG aims to be Siam Global House's sustainable strategic partner, while enhancing its capabilities and opportunities to expand across the Asean region, including Thailand, chief executive officer Kan Trakulhoon said.

Siam Global House was incorporated in Roi Et. It listed in 2009. Its stock rose 0.74 per cent yesterday to close at Bt13.60.

Also yesterday, Siam Global House told the SET that on Saturday its board passed a unanimous resolution to approve the acceptance of SCG Distribution's investment proposal. The new partner was seen as synergising its business capability and strengthening its capability to expand its branches more efficiently to meet increasing demand for construction materials and home decoration products both in Thailand and Asean.

The alliance will also enhance Siam Global House's capital strength and long-term competitive strength, it said.

Witoon Suriyawanakul, CEO of Siam Global House, said SCG Distribution recognised the company's capability and synergy with the latter's long-term policy to invest in the retail business for construction materials and home-decoration products with the "big-box warehouse" format.

"The company will continue to maintain its business model without any change, namely, big-scale retail business offering fully integrated and various construction materials and home decoration products.

"The company strongly hopes that this investment by SCG Distribution will yield a long-term benefit to the company and its shareholders and will not cause any adverse impact to its customers, suppliers and employees," he said.

Siam Global House was established in 1995. In 1997, it started operating under the name Global House as a building-materials and home-improvement store.

This year, its first-quarter net profit surged 28.63 per cent to Bt138.28 million on a 27.07-per-cent year-on-year gain in sales to Bt2.50 billion. Last year it earned Bt490.60 million on sales of Bt8.39 billion.

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BJC on track to acquire more retail outlets in Vietnam
THE NATION August 28, 2012 1:00 am
Berli Jucker (BJC) expects to conclude its acquisition deals for retail and distribution centres worth between Bt1 billion and Bt3 billion in Vietnam within the current quarter.
President Aswin Techajareonvikul said the deals would help the company increase its distribution points from 50,000 outlets to more than 200,000 as well as sales in Vietnam from Bt2 billion to more than Bt5 billion annually.

He said the investment capital would be from cash flow and some from loans. The company enjoys more than Bt5 billion each year in earnings before interest, taxes, depreciation and amortisation (EBITDA) and a debt to equity ratio of 1 time, which is below the target of not higher than 1.5 times. So there is still room for the company to borrow.

"We will give significance to acquiring retail businesses in the country as they are a key channel for distributing our products to consumers. Although we are quite new in that marketplace, we have an objective to penetrate many potential markets in Asean aggressively, including Thailand, Vietnam and Myanmar," Aswin said.

Meanwhile, BJC's intention to acquire convenience-store chain Family Mart may fail to materialise. However, the company will find other opportunities to have its own retail company, he said.

Aswin said BJC was looking for acquisition opportunities among retailers in Indochina, especially Vietnam and Myanmar, with a view to filling out the supply-chain system with downstream business and improving its bargaining power against independent retailers.

"The target is in line with our strategic expansion, which is set to cover all Indochinese and Asean markets within the next three to five years to cash in on the coming Asean Economic Community," he said.

Aswin, who has held the top management position since January 2008, said that during his time at the helm he had been able to double the sales of the trading and manufacturing company to more than Bt30 billion by the end of last year.

Nearly five years ago, the contribution from Asean countries was just 3 per cent of overall sales, at more than Bt10 billion. That has now risen to 15 per cent.

He joined Berli Jucker in March 2007 as executive vice president in charge of corporate development and international business for the BJC Group of companies.

"We also plan to open drugstores in Thailand to be a distribution point for cosmetics and medicine products. We are negotiating with potential partners in the US, Japan and Europe to bring their products into Thailand or even make joint ventures to open branded drugstores in the local market. There is no absolute leader in drugstores in this market," Aswin said.

He said BJC expected to open between five and 10 drugstores this year.

BJC expects to grow its sales by 15 per cent this year. The company enjoyed 19.1-per-cent year-on-year growth in the first six months, to Bt18 billion. It has also posted growth so far the third quarter. However, several worrying factors, including global recession and rising oil prices, will be monitored closely, as they have significant impact on the purchasing power of Thai consumers.

BJC posted Bt1.19 billion in net profit in the first half, up 11 per cent over the same period last year.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
*******************************************************************************

DTAC failure to bring heavy fine
USANEE MONGKOLPORN
THE NATION August 29, 2012 1:00 am
Total Access Communications (DTAC) experienced another network failure yesterday, which could draw it a heavy penalty.
"We will definitely slap a fine on DTAC because this is the fifth network failure in the past year.

"The fine can be in the eight digits or about Bt20 million to Bt30 million," said Takorn Tantasit, secretary-|general of the National Broadcasting and Telecom-munications Commission (NBTC).

The watchdog will set up a committee to set the exact fine within four days, he said. The DTAC network has gone down many times. If the watchdog declines to take any strong measure, this will affect its image. It will take a harsher action to punish the carrier if its network crashes again, Takorn said.

He said he believed this fine should be based on Bt1 per number and the 130 million mobile-phone users in Thailand, since the network failure yesterday also inconvenienced customers of other networks, who could not contact DTAC's customers.

The regulator will cite Article 33 of the Telecom Business Law, which requires cellular operators to maintain network quality or face a fine of Bt20,000 per day. DTAC has the right to appeal the fine.

The second-largest cellular operator has some 24 million subscribers.

The NBTC summoned DTAC executives for an urgent meeting after the problem occurred.

DTAC said in a statement that one of the several pairs of MPLS (multi-protocol label switching) signalling routers at the Rangsit Switching Centre had developed a fault, resulting in combined downtime of 65 minutes around noon. The mishap affected about 20 per cent of customers in various parts of the country.

"The fault has been fixed and service has now returned to normal. We apologise to our customers for the inconvenience caused," it said.

After many network failures, the NBTC issued an order to DTAC on May 28 to prevent more breakdowns. The company appealed against the order, but the NBTC's telecom committee declined to accept the appeal.

Last December 21, DTAC experienced a network fault that was the result of a critical migration of data from one database to another. On January 5, it experienced another network fault that affected many customers in the southern provinces, who were affected by yet another incident three days later.

On May 4, DTAC's main fibre-optic trunk in the upper North and a backup line failed, disrupting communication services to many subscribers in the area.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 278 SCC
*******************************************************************************


SCG earmarks upto Bt200bn for regional expansion
Varin Trino

The Nation August 31, 2012 1:00 am

Kan Trakulhoon
The board of Siam Cement Group has approved investments of Bt150 billion to Bt200 billion from 2013-2017 focusing on the Asean market, especially Myanmar and Indonesia, the company's president and chief executive officer said yesterday.
Kan Trakulhoon said the investment plan also covered Thailand and could involve expansion of production capacity or takeover of related businesses here and in other Asean countries.

"Our initial five-year investment budget is Bt150 billion, but if the ventures need funding in excess of that, we will increase our budget to Bt200 billion," he said.

In Myanmar, the company is submitting its plan to the government and investment may kick off next year, he added.

Earlier, the company spent its US$4.5-billion (Bt135 billion) budget on its petrochemical complex in Vietnam, Bt10 billion to set up a cement plant with an output of 1.7 million to 1.8 million tonnes a year in Myanmar, and a cement plant with 1.9 million tonnes' output annually in Indonesia.

In the Indonesian deal, it will acquire a stake of 30.01-33.40 per cent in Siam Global House, which would require a budget of about Bt10 billion.

"We plan to take over another company in an Asean country in the last quarter of this year," he said. He declined to disclose details of the new deal, for which negotiations are taking place.

Although the company is expanding investment aggressively this year and over the next five years, Kan said its financial health remained strong because of Bt40-billion cash flow while total debt was only Bt120 billion. This compares with its total assets worth Bt384.11 billion and total equity of Bt136.25 billion.

"When we decided to expand investment, we were concerned about business risks, especially the impact from the European crisis and China's economy," he said.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
*******************************************************************************



TUF continues M&A drive amid economic slump in Euro zone



ACHARA PONGVUTITHAM
THE NATION September 3, 2012 1:00 am

Despite the downward economic trends in both the United States and the European Union, Thai Union Frozen Products (TUF) is working on acquiring new brands. And new investments will be announced by 2015 to serve business expansion under the group's umbrella.
"We cannot say when we will get the new brands, as negotiations for any deals are not easy to complete in detail. It is still in the process, so it is hard to tell you how many brands will be acquired this year or next," said Thiraphong Chansiri, president of the company.

In the EU market, the company has concentrated on canned seafood and is looking for more brands. TUF currently only has brands with good access to five of the EU's 27 member states, and it is looking at Scandinavia, Germany, Benelux, and Eastern Europe as focuses for expansion. Outside Europe, North Africa and the Middle East are also in the company's sights.

However, new investment in the US has declined, as the company has already set up businesses there for production of canned and frozen seafood and pet food.

To serve the coming Asean Economic Community, the company will penetrate more markets in Vietnam, Laos and Cambodia.

"It is the busiest year for me, as I have to fly to many European countries every month to explore business opportunities," Thiraphong said. "Currently, 50 per cent of my life is spent abroad both in the US and the European Union, where TUF's businesses have been established and still create high returns for the company."

TUF's international brands include US brand Chicken of the Sea, while John West, Petit Navire, Parmentier and Mareblu came under its umbrella after completion of the acquisition of MW Brand last year to be marketed in the United Kingdom, Ireland, Italy and France. In addition, the company manages leading tuna-products brand Select, fish products under the Fisho brand, and Bellotta pet food for the domestic market.

Mergers and acquisitions are still the company's key strategy for business expansion.

As one of the leading global seafood companies, TUF's strategic business has been classified into six core product groups: tuna, shrimp, pet food, sardines, salmon, and ready meals.

The tuna business holds the major share of the group's production, accounting for 45-50 per cent, followed by shrimp at 20 per cent, pet food at 7 per cent, sardines at 5 per cent, salmon at 4 per cent and ready meals for the rest.

Thiraphong noted that these six core businesses would be the company's main drivers to achieve total sales of US$5 billion (about Bt470 billion) by 2015 and $8 billion by 2020.

TUF posted Bt2.47 billion in net profit in the first half of this year, up by 21 per cent year-on-year, despite the slowing European and US economies. The slowdowns have not affected the company's financial results, as food is a basic necessity. On the other hand, consumption of tuna should increase amid tough economic times.

TUF's new investments will be introduced by 2015 or earlier, depending on how the negotiations progress.

Thiraphong said the euro-zone crisis was an opportunity for TUF, as many European companies had weakened in line with the regional economy. This creates more acquisition opportunities together with a stronger baht, which lowers the company's M&A costs.

"TUF wants to buy such companies but it should be the right time for those targeted firms also, as they want to sell out," he said.

TUF is also positioning itself as a regional brand for tuna products while as the group as a whole aims to become a global brand.

"We don't want to design ourselves as a single-brand operator. That is why we concentrate on acquiring [existing] brands for business expansion in the future. Look at Heineken's operation - it manages about 100 local brands," Thiraphong said.

[schmithi]

post 200 Banken, BANPU, TIPCO
post 201 KK
post 202 SCBLIF (früher SCNYL)
post 203 PTT
post 204 CPF
post 205 CPF
post 206 EGCO
post 207 PTTEP
post 208 BANPU, CPF
post 209 TUF, PTTEP
post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
*******************************************************************************

DTAC fined Bt10m for network failure

USANEE MONGKOLPORN
THE NATION September 6, 2012 1:00 am

The National Broadcasting and Telecommunications Commission has slapped Total Access Communications (DTAC) with a fine of Bt10 million over its network failure late last month. The mobile-phone service provider must pay the fine within 15 days, NBTC secretary-general Takorn Tantasit said yesterday.


DTAC chief executive officer Jon Eddy Abdullah said his company, the second-largest cellular operator, was willing to pay the fine. He admitted that the incident had caused a negative perception of the company but added that it would launch several campaigns and activities to boost customer satisfaction and encourage them to stick with its network.

The fine of Bt10 million is based on a joint calculation of the damages caused by the breakdown. DTAC said the network was down for 65 minutes and the damage to affected customers was Bt6 million, but the NBTC found that the downtime was 105 minutes and the damage Bt14 million. The NBTC added the two amounts together and divided them by two, resulting in the fine amount, Takorn said.

From now on, fines for cellular-network failures will be easier to work out under new criteria set this week, using flat rates regardless of actual damages to users. As these criteria were just introduced this Tuesday, they did not apply to the DTAC case, as its latest network failure was on August 28. Coincidentally, however, the fine worked out to be the same as the new minimum of Bt10 million.

Under the new criteria, failure to ensure network quality will be subject to a fine of Bt10 million, regardless of actual damage value, for a first occurrence. The second failure will be subject to a fine of Bt12.5 million, the third Bt15 million, and the fourth Bt17.5 million. If it happens a fifth time, it will be subject to an amount determined by the NBTC.

DTAC was fined Bt20,000 for an earlier network failure, on January 8, but has declined to pay it pending appeal.

The glitch on August 28, DTAC's fifth network failure in the past 10 months, stemmed from a fault of one of the several pairs of MPLS (multi-protocol label switching) signalling routers at the Rangsit Switching Centre, resulting in combined downtime of 65 minutes around noon. The mishap affected about 20 per cent of its customers in various parts of the country.

The NBTC issued an order to DTAC on May 28 to prevent more breakdowns. The company appealed against the order, but the NBTC's telecom committee declined to accept the appeal.

Last December 21, DTAC experienced a network fault that was the result of a critical migration of data from one database to another. On January 5, it experienced another fault that affected many customers in the Southern provinces.

On January 8, a car accident in Pran Buri destroyed DTAC's fibre-optic-cable route that provides service to customers in the South, and a few minutes later |a brush fire in Phetchaburi |burned a power pole and DTAC's backup fibre-optic cable. About 1.8 million subscribers in the South were affected for two and a half hours.

On May 4, DTAC's main fibre-optic trunk in the upper North and a backup line failed, disrupting communication services to many subscribers in the area.

DTAC is compensating its affected customers from the latest network failure, an amount expected to reach Bt300 million. It claims that the five network failures have cost it about Bt500 million in compensation payments.

DTAC has about 24 million subscribers.

[schmithi]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
*******************************************************************************
Thanachart plans to push insurance branches into the top three



Sucheera Pinijparakarn
The Nation September 10, 2012 1:00 am

Thanachart Bank wants to speed up the growth of its insurance business by adding more services and working closely among |its bank branches, customers |and partners in an attempt to reach the top three within three years.
In terms of premiums, Thanachart Insurance ranks eighth and Thanachart Life Assurance 10th.

Thanachart Bank, which entered the insurance industry 10 years ago, has accelerated the growth of premiums inorganically from its merger with Siam City Bank last year.

Even though the network of branches is a key driver of premiums, Thanachart Bank has recognised that the insurance business can maximise potential if it has a back-up team to reinforce day-to-day operations.

The bank has made executive vice president Nophadon Ruengchinda its new executive in charge of its insurance subsidiaries to fulfil the goal. He serves as managing director of Thanachart Life Assurance and vice president of Thanachart Insurance. He was managing director of Thanachart Insurance before the merger of Thanachart Bank and Siam City Bank.

Nophadon said he was assigned to help strengthen services to enhance customer satisfaction. Coordination among bank branches, insurance companies, and partners such as brokers and auto garages must be smooth as well, he said.

The bank wants its insurance subsidiaries to be in the top three within three years, he said.

"Pricing remains the strategy |of this industry, but we want to |differentiate our services, and |this should not rely on day-to-day operational staff. We should |have an additional team to help them and set a 'war room' to assist customers when they have accidents."

He said he would help plan insurance products with the right timing to prevent competition in the Thanachart Group.

"When interest rates rise, bank deposits might be more attractive than savings insurance, so my responsibility is to allocate insurance products that benefit both Thanachart Bank and its insurance companies.

"Thanachart Bank is a retail bank, so insurance sales will come along with lending, such as auto insurance for hire-purchase and mortgage-reducing term assurance for housing loans," he said.

Thanachart Insurance this |year projects premiums from |non-life insurance of Bt5.77 |billion and from life insurance of Bt9 billion.

[ThaiClaus]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
*******************************************************************************

Indorama

Indorama has great aspirations, says CEO

Nophakhun Limsamarnphun
The Nation September 14, 2012 1:00 am

Aloke Lohia, chief executive officer of Bangkok-based Indorama Ventures.

Aloke Lohia, chief executive officer of Bangkok-based Indorama Ventures, one of the SET-50 companies on the Stock Exchange of Thailand, talks to Nophakhun Limsamarnphun about IVL's ambitious business plan towards 2014.

What is your vision for IVL in the "Aspiration 2014" plan?

IVL started out with 10 ventures a few years ago. Now we have 39 ventures in 15 countries around the world. We're on track in terms of the company's so-called Aspiration 2014, so earlier this year I said we would slow down in new M&As [mergers and acquisitions].

Now we also have the platform for R&D [research and development] and innovation, as 7 per cent of our sales now comes from speciality products. We're Europe's largest recycling company and also investing in Nakhon Pathom and Rayong provinces to get into the recycling and high-value speciality businesses.

IVL held a big conference of top executives in Warsaw last week. What was on the agenda?

We do this annually, as we have three main businesses - PET [polyethylene terephthalate], polyesters and feedstock. We got about 100 top people in the PET business in Poland. We chose Poland because we acquired a PET factory there early last year at a 30-per-cent discount to its replacement value and turned it around.

It's now one of our best-performing plants in the world. We have hard-working people, a good workforce and good management, while Poland is one of the few markets in the world that are still growing in the high [single] digits, at 6 per cent per annum while the rest of Europe's growth is less than 2 per cent.

Indorama is the world's biggest PET producer. What are its competitive advantages?

About 93 per cent of our business is commodities. Our total capacity under the Aspiration 2014 plan is going to be 9 million tonnes, up from the current 7 million tonnes per annum. More important, it's about profitability. The economies of scale help us to reduce costs and allow us to buy raw materials at a reduced price while our global platform helps us serve customers more reliably at a lower logistics cost.

It's about one single focus to serve our shareholders better. In 2009, our sales were just about US$1 billion [Bt31 billion] and in 2014 they will be $10 billion. That's the power of our management team and global vision.

What is this year's sales target?

Eight billion dollars.

What about the PTA (purified terephthalic acid) feedstock business?

It's underperforming because of a lot of capacity, and this trend will continue over the next two years. However, we now have one of our businesses in North America benefiting from the cheap shale gas, so the entire feedstock business is stable.

This is one of the advantages of a global company that can take advantage of different business locations. We also plan to exploit the crude-oil business in the Middle East so that we can leverage our downstream operations in PET and polyester to deliver better returns to shareholders.

What about your plans for R&D and speciality businesses?

We aim to double our sales every five years and triple our bottom line every five years. To do so, we need to get into speciality businesses, which have better margins. In Thailand, we will move into more R&D for intellectual-property-based products while moving more commodity products into Indonesia, where the labour cost is lower and raw materials are abundant.

Please talk about some of the speciality products and the recycling business.

In Thailand, we will produce more hygiene products, which go into diapers, feminine care, tissues. In the US, we produce speciality beverage bottles for Tropicana, for example, which have a handle. In recycling, it's a fast-growing business, but it's still small in terms of total business.

How important is Thailand to Indorama?

My business life was born in Thailand 24 years ago. The future growth of Indorama will come from Asean and Asia with plans to build plants in India, while Thailand will continue to be our headquarters.

At present, IVL is the polyester-industry leader in the world with a committed capacity of 8.5 million tonnes by 2013. It is also the world's largest PET maker for container beverages and other industries with a global market share of 14 per cent.

In Europe, it's the biggest PET producer, while in the US it's the second-biggest, with a 30-per-cent market share each. IVL's market capitalisation is now more than $4 billion.

[schmithi]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
*******************************************************************************

AOT to hike airport passenger-service charges
NONGNAPAS MAIPANIT
THE NATION September 29, 2012 1:00 am
Air travellers will have to pay more for passenger service at Suvarnabhumi Airport after operator Airports of Thailand announced plans to increase the charges next year.
However, AOT also plans to invest up to Bt5 billion in developing facilities at the airport in a bid to ease congestion.

Somchai Sawasdeepon, director of Suvarnabhumi Airport, said yesterday that the passenger service charge for international flights would be increased to Bt800 from the current Bt700 while that for domestic flights would be raised to Bt150 from Bt100 currently.

"Though the number of passengers has grown by an average of 8-9 per cent annually, we don't expect traffic jams at Suvarnabhumi Airport, as some airlines have moved to provide services from Don Mueang Airport," he said. AOT expects the number of passengers at Suvarnabhumi next year will decline to 45 million, compared with an estimated 52.6 million this year. The main reason is that Thai AirAsia, an airline that carries 10 million passengers a year, has relocated to provide services from Don Mueang.

He said Suvarnabhumi would restore some space on the terminal's fourth floor for use by passengers. The airport also targets luggage-loading times not exceeding 20 minutes.

Somchai said AOT planned to invest up to Bt5 billion on developing facilities in the airport such as luggage conveyors (Bt1.8 billion), air-conditioning improvements (Bt677 million), computer network (Bt334 million) and rest-room improvement (Bt100 million).

In addition, AOT is proceeding with Suvarnabhumi Airport's second-phase construction, requiring an investment of Bt62 billion to enable traffic of 60 million passengers a year, up from 45 million currently

[schmithi]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
*******************************************************************************

DTAC
Bt40 bn set for 3G-2.1 Ghz business
SIRIVISH TOOMGUM
THE NATION October 3, 2012 1:00 am

Total Access Communication (DTAC) expects to outlay Bt40 billion on 3G-2.1GHz business development during the next three years, assuming it wins bandwidth in the upcoming 2.1GHz spectrum auction.
The sum is the same as what the company estimated back in February, chief executive officer Jon Eddy Abdullah said yesterday.

Of the total, between Bt15 billion and Bt20 billion is expected to be spent on bidding for spectrum slots, Bt10 billion to roll out the 3G network to cover 50 per cent of the population within the first two years of DTAC obtaining a 3G business licence, and another Bt10 billion on expanding the coverage to 80 per cent of the population in the following two years.

The national coverage plans are in line with the network roll-out obligations of the National Broadcasting and Telecommunications Commission (NBTC).

A telecom analyst recently estimated that each of the three bidders in the auction on October 16 would end up paying only Bt15 billion as final upfront fees, given that there are sufficicient spectrum blocks available for all three operators.

The three applicants for taking part in the bidding are DTAC Network, Advanced Info Service's Advanced Wireless Network, and Real Future, a unit of True Corp.

The NBTC will auction nine slots of the spectrum, each containing 5MHz of bandwidth at a reserve price of Bt4.5 billion apiece. Each bidder can go for a maximum 15MHz of bandwidth.

The watchdog on October 9 will announce the names of the applicants that have passed its prequalification process. The prequalified bidders will then immediately be subject to a silent period in the run-up to the auction.

It will be impossible for the three bidders to collude in the bidding, Abdullah said, adding that the reserve price of Bt4.5 billion per slot is not low. If DTAC Network is successful at the auction, the company expects to launch high-quality 3G service during the second half of next year, he said.

Once all the spectrum-slot winners start their network services, the market will see competition in the provision of data-service packages. Consumers will also get a faster speed for wireless data usage, he added.

DTAC Network is not setting a customer number target for the initial period, but it is expected to take up to four years to migrate DTAC's existing customers to the 3G business operator, he said, pointing out that migration requires permission from customers and is also dependent on their having compatible 3G mobile devices.

DTAC currently has more than 30 million mobile-phone subscribers.

If DTAC Network can grab part of the spectrum, DTAC plans to stop further investment on the expansion of its 3G-850MHz network and swing investment to the 2.1GHz network for 3G service instead, the CEO said.

DTAC will, however, go ahead as planned in finishing the installation of 5,200 base stations for the 3G-850 MHz network by the end of this year. It has installed about 3,000 stations to date.

Abdullah described DTAC as technically and financially ready to bid during the auction. The company has over the past nine months DTAC enhanced its organisation and people on many fronts to prepare for the provision of 3G service to customers, he said.

[schmithi]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post PTTEP, THAI
*******************************************************************************

PTTEP may step up on investment in Africa
WATCHARAPONG THONGRUNG
THE NATION October 6, 2012 1:00 am
PTT Exploration and Production (PTTEP) is looking at adjusting its five-year investment plan (2013-17) to increase its investment in petroleum fields in Southern Africa so production can begin by 2019.
President and chief executive officer Tevin Vongvanich said yesterday that the company would proposed the adjusted five-year investment plan in December, as there would be a clearer picture of its investment via Cove Energy, which PTTEP took over recently, in Mozambique-based energy. In addition to combined natural-gas reserves of 60 trillion cubic feet per day in Mozambique, Tanzania and Kenya in which PTTEP participates, there would be another reserve of 30-50tcf/d.

"Therefore, the company will select only petroleum fields that are producible within two or three years when it thinks of buying new assets. We now have two large fields for long-term development, which are in Southern Africa and Canada."

PTTEP's existing investment plan was from 2012 to 2016 with a total budget of Bt400 billion. The newly adjusted budget is expected to focus more on investment expansion in large projects such as the oil sands in Canada and conventional fields in Mozambique. PTTEP expects to start production of petroleum as soon as possible, in 2019.

In addition, PTTEP has given importance to investment in Southeast Asia, especially Myanmar. Southeast Asia accounts for 20 per cent of its investment portfolio.

"Cancellation of sanctions on Myanmar has made many foreign oil companies interested in joining a venture with PTTEP in oil and gas fields," said Tavin, adding that the company had allowed Total and Nippon Steel to hold stakes in some of its fields.

Meanwhile, PTTEP estimates that resumed production in Australia's Montara oilfield in the Timor Sea will be delayed until the first quarter of next year from the previous schedule of the fourth quarter this year.

Tevin said the company had just received a licence from the Australian government. The area was recently hit by a cyclone, preventing the company from installing equipment, causing production delays.

The Montara project has a daily production capacity of 30,000 barrels of oil. It ran into trouble with the Australian government after an oil and gas leak in 2009 caused environmental problems.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

THAI board sets talks with new president
BAMRUNG AMNATCHAROENRIT
THE NATION October 6, 2012 1:00 am
Thai Airways International's board of directors will meet with the company's new president Sorajak Kasemsuwan next Friday to discuss how to maintain the national carrier as one of the world's leading airlines.
One of the first priorities will be its financial direction, after THAI suffered a Bt10.2-billion loss last year.

Board chairman Ampon Kittiampon said yesterday after a board meeting that the directors had agreed to hire Sorajak as the new president, replacing Piyasvasti Amranand, who was fired in June. Sorajak will be officially informed on Monday, when the agreement will be signed. He will start working the next day.

Ampon declined to disclose the new president's salary, saying it was confidential. Piyasvasti's last salary, before his employment contract was prematurely terminated, was Bt990,000 per month.

Ampon declined to disclose the new president's salary, saying it was confidential. Next month, Sorajak will be informed about the company's financial performance, especially in the first quarter, when its results were below projections. His performance will be judged over the next eight or nine months.

Ampon said he accepted that the aviation industry was having a rough time with fluctuating fuel prices and fiercer competition, but THAI has a new Airbus A380 superjumbo with 507 seats as a competitive advantage to lure passengers.

"The new president will have to manage risks and also maintain the service standard of THAI at the same time,'' Ampon said.

He will have to follow the company's strategy and also state-enterprise plans, especially concerning good governance.

He will be responsible for decentralising the company's management. The board will not be involved in changes in employees' positions, except for that of executive vice president.

The new president will also be responsible for promoting green innovation. Currently, THAI is internationally recognised as helping to reduce greenhouse-gas emissions

[schmithi]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
*******************************************************************************


FITCH ROUNDTABLE
PTT aims to explore new energy areas to meet demand
ACHARA DEBOONME
THE NATION October 11, 2012 1:00 am

Pailin Chuchottaworn, middle. On his right was Chartsiri Sophonpanich.
PTT Group's chief, Pailin Chuchottaworn, has reiterated the need to explore new energy fields to cope with increasing demand in the country.
The key, he says, is to balance resources from various locations. Starting with the US$2-billion (Bt61-billion) investment in Cove Energy, for a small stake in a gas field in Mozambique, PTT Group is seeking to establish greater presence in that area. Looking to the north, resources could also come from Russia or through the South China Sea. To the south, resources from Australia are in sight, even though they are becoming more expensive.

"It's difficult to predict oil prices, but I believe that they will increase further," he said at a roundtable discussion on "Regional Opportunities and Risks - Thailand and the AEC" at the Fitch Ratings annual conference.

In Asean, PTT has also expanded into many countries, particularly Myanmar, where it first made its presence felt 20 years ago when sanctions against the military regime were still in place.

Massive investment by PTT Group has raised eyebrows among rating companies, which are concerned about its increasing debt level. PTT Exploration and Production (PTTEP) is being forced to recapitalise, expected to be completed by the end of this year, to maintain its debt-to-equity ratio or risk a credit downgrade.

Lertchai Kochareonrattanakul, senior director and Thailand head of corporate ratings for Fitch, noted that oil and gas companies in the Asia-Pacific region were building up resources aggressively. This is wise, as their ratio of oil reserves to production is the lowest according to global standards, 14 years against the 31-year global average.

In the region, only Petronas and Woodside sit on huge reserves. Others will need to replace depleting oil and gas reserves, mostly through mergers and acquisitions. In the first eight months of this year, Asia-Pacific oil companies' M&A deals worth more than $1 billion exceeded $40 billion in total, or half of global transactions.

Of the $142 billion worth of transactions from January 2010 to August this year, 51 per cent of the value was executed by Chinese companies - Sinopec, CNOOC and CNPC/Petrochina - while Thailand's was only 4 per cent.

Lertchai expects the companies' capital expenditure to remain high, after showing annualised growth of 10-15 per cent in the past three years. So far, there have been limited impacts on these companies' credit outlook.

The impact is moderate on PTTEP, which invested $2.3 billion in 2010 and is on course to complete $3.1 billion worth of deals this year. Its net debt in 2011 stood at 1.7 times.

"If the ratio remains below 2 times, this will not affect the credit rating," Lertchai said.

On the opportunities to be presented by the Asean Economic Community (AEC), Chartsiri Sophonpanich, president of Bangkok Bank, foresees increase in infrastructure funding, particularly in Thailand, Myanmar and Indonesia. Plus, project financing will also rise as Thai companies are investing more in the domestic market and overseas.

CHANGES

"The AEC will change many things for Thai organisations," he said. "I believe that this is the Century of Asia, with many significant changes. In this transition, the situation will be up and down, but output will grow."

For Bangkok Bank, he said that amid great opportunities, it was necessary to maintain healthy financial balances, from debt to equity and loan to deposit ratios to provisioning.

According to Mark Young, Fitch Ratings' head of financial institutions for Asia and the Pacific, the credit outlook of Thai banks remains solid. Loan growth has been expanding fast since 2010, but also asset quality. They have also boosted Tier 1 capital, above 10 per cent of risk assets in the case of Bangkok Bank.

His concern is on tightening liquidity, which suggests the need to mobilise other types of funding besides deposits.

Win Phromphaet, head of global and real-estate investment for the Social Security Office, added that infrastructure development - the rail network in Thailand, mass transit in Jakarta and an airport in Manila - made a country attractive for investors who want inflation-hedging options and stable long-term returns.

At present, 3 per cent of the Social Security Fund's $30 billion is invested in global bonds, while the rest is in Thai bonds and equities

[schmithi]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
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AOT to push ahead with Suvarnabhumi expansion
NONGNAPAT MAIPANIT
THE NATION October 30, 2012 1:00 am

Traffic congestion at Suvarnabhumi Airport
Airports of Thailand will go ahead with Phases 3 and 4 of Suvarnabhumi Airport's development to boost its annual capacity to 90 million passengers.
Its annual capacity is now 45 million.

AOT acting president Somchai Sawasdeepon said yesterday that the agency was moving at full steam on the Bt62-billion second phase and construction was expected to be complete by December 2016, boosting capacity to 60 million passengers.

It then plans to expand capacity by another 30 million passenger with Phases 3 and 4. The cost of the third phase is expected to be same as the second's.

Phase 3 will take place from 2016 until 2021, when the airport will be able to serve 75 million visitors. The construction will include the expansion of the passenger building on the west side, the construction of tunnels, a passenger-transport system, and a fourth runway.

Phase 4 will see the construction of a passenger building and a parking bay on the south area and boost capacity to serve total 90 million people through 2032.

In a related matter, AOT chairman Sumet Photimanee said the board would soon convene to set up a committee to select a new president to replace Flying Officer Anirut Thanomkulbutra, whose employment contract was terminated.

The termination, which was part of a board resolution on October 19, will be effective from November 27. The selection is expected to be completed early next year.

[schmithi]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
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TBank unlikely to need more capital after sale of insurance unit
CHAMNAN NOISAMRAN
THE NATION November 6, 2012 1:00 am
Thanachart Bank expects to see its Tier 1 capital rise by 2 percentage points after the Bt17.5-billion sale of its wholly owned subsidiary Thanachart Life Assurance Co to Prudential Life Assurance (Thailand).
With the likely capital increase, the bank may have no need to raise more capital.

Anuwat Luengtaweekul, deputy managing director of TBank, said yesterday that the bank's Tier 1 capital to total risk-weighted assets would rise to about 11 per cent, which was up with the industrial average of 10-11 per cent and sufficient to meet the new Basel III requirements.

Thanachart Capital, the bank's major shareholder, reported to the Stock Exchange of Thailand that besides the Bt17.5 billion in cash, the deal included a further payment by the buyer of Bt500 million.

Somjate Moosirilert, president and chief executive officer of TBank, said the deal, subject to regulatory approval by the Office of the Insurance Commission, was expected to close in the first quarter of next year.

TBank has also entered an exclusive bancassurance partnership agreement with Prudential for 15 years in Thailand. The bank will earn fee-based income throughout the term, he said.

Thanachart Group noted in a press release that Prudential's acquisition of Thanachart Life Assurance was part of its strategy to invest in the Southeast Asian market. Thailand's life-insurance market is large in premiums, in contrast to Indonesia and Malaysia.

In Thailand, insurance penetration remains low at 2.7 per cent, so there is a room to grow.

From 2007-11, life premiums in the market rose 16 per cent and the bancassurance channel played an important role in the expansion of the life insurance business.

Last year, bancassurance accounted for 50 per cent of total life-insurance premiums, up from 28 per cent a year earlier. Thanachart Life Assurance has written about a million life-insurance policies.

After regulatory approval, TBank and Prudential will offer Prudential's life-insurance products and training will be given to the bank's branch employees. About 160 staff of Thanachart Life Assurance will be moved to Prudential.

Thanachart Securities and Citi Group acted as TBank's financial adviser while Morgan Stanley advised Prudential.

Tidjane Thiam, CEO of Prudential Group, said the company needed to be tops in the insurance business in Thailand, where the economy is growing and penetration was low.

Brendan King, deputy CEO of TBank, said on behalf of the bank's major investor, Bank of Nova Scotia, that Scotiabank's presence in Thailand saw expansion.

Somjate said selling Siam City Life Assurance Co was a choice, but there had been no negotiations with any party yet.

As of June 30, Thanachart held assets of Bt920 billion.

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Merged Kiatnakin-Phatra Group divides expertises
SUCHEERA PINIJPARAKARN
THE NATION November 6, 2012 1:00 am
Kiatnakin-Phatra Financial Group plans to play a niche role in retail and investment products to make inroads in the commercial-banking and capital-market businesses.
Banyong Pongpanich, chief executive officer of the group and chairman of the executive committee, insisted that despite the recent merger between Kiatnakin Bank and Phatra Capital, both entities should run the businesses in which they have expertise.

The two firms officially merged on September 11.

Banyong told a news conference that the group did not want to be a universal bank because its assets of Bt200 billion would not supported such expansion. It will expand its assets by focusing on retail, particularly auto loans and lending to small and medium-sized enterprises.

As for the capital-market business, it will focus on wealth management and expand comprehensive products of investment banking to the affluent customers of Kiatnakin Bank and Phatra.

Commercial banking remains a key profit generator for the group because of the stable revenue compared with the capital-market business, which can be volatile according to market sentiment, Banyong said.

Tawatchai Sudtikitpisan, chairman for commercial banking and president of Kiatnakin Bank, said the bank would try to expand retail lending. KK has expertise in auto instalment loans especially for used vehicles, and urbanisation in the provinces is an opportunity to expand these products upcountry.

Outstanding car loans are currently Bt120 billion, while SME loans are Bt40 billion.

Tawatchai said the bank projected its auto-loan portfolio next year growing to Bt150 billion and the SME portfolio to Bt50 billion.

Its overall loan growth next year is expected to be no less than 20 per cent compared with about 24 per cent this year, he said.

As it chases deposits, KK branches will focus more on customers with deposits of less than Bt10 million because the cost of funding that customer base is relatively low, and it can also support the cross-selling of such products as insurance.

Aphinant Klewpatinond, chairman of the capital-market business and president of the group, said Phatra Capital, which oversees private clients and investment banking, would offer added value to high-net-worth customers (assets under management, or AUM, of more than Bt30 million) such as structured notes and bond products.

These would be offered to both Phatra and KK clients.

Phatra Capital will broaden its client base as KK customers with deposits of Bt2 million to Bt10 million open accounts with Phatra Capital to manage the portfolio allocations and for advice on investment products with high returns.

Phatra AUM at present are Bt170 billion, and if KK customers with deposits of Bt2 million to Bt10 million add Bt100 billion, total assets will increase to B270 billion.

[schmithi]

post 210 EGCO, TCAP, LPN
post 211 PTT
post 212 CPF
post 213 KSL
post 214 TIPCO
post 215 Banking sector
post 216 SCBLIF (früher SCNYL)
post 217 ---
post 218 SCC & SCCC
post 219 DTAC, PRIN
post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q9
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True's outlook bleaker after EPL rights loss
THE NATION November 17, 2012 1:00 am
Asia Plus Securities is revising its forecast for True Corp's performance this year after bigger-than-expected quarterly losses and a poor outlook for its cable TV business.
In a research note, Asia Plus said True's nine-month loss was equivalent to the securities house’s earlier loss forecast for the whole year.

It foresees further high expenses in the third-generation cellular business as well as the loss of some of its cable TV customers.

True is expected to amortise the cost of its 3G licence by Bt900 million per annum in the next 15 years. Next year, it also needs to invest Bt8 billion in the 3G network.

TrueVisions now risks losing some of its subscribers after failing to retain the right to broadcast English Premier League soccer matches. In the third quarter, advertising revenue went up by Bt241 million from the previous quarter thanks to "Academy Fantasia" and the EPL.

"We’re approaching the management for more information on the damage forecast," Asia Plus said.

In the third quarter, the group showed a net loss of Bt1.8 billion, down 15 per cent from the previous quarter. Without a foreign-exchange gain of Bt246 million, normalised loss could have hit Bt2 billion.

After failing to retain its EPL right, TrueVisions said it would allocate an additional budget to acquire more sports and entertainment programmes. It will also adjust its strategy to maintain business stability in the short and long terms.

Krungsri Securities estimated that TrueVisions would lose some high-end subscribers in the second half of next year when its existing EPL broadcasting right expires in May.

The brokerage house believes TrueVisions will partner with the EPL rights winner Cable Thai Holding to broadcast some matches to maintain its viewer base.

According to True Corp’s filing to the Stock Exchange of Thailand, TrueVisions' service revenue surged 6.3 per cent year on year to Bt2.6 billion in the third quarter, mainly driven by warm response to "Academy Fantasia" Season 9, "The Voice Thailand" and other popular content, such as the EPL. - The Nation.

TrueVisions subscribers picked up year on year to 1.79 million, mainly because of the introduction of the new MPEG-4 broadcasting system in July. The new system effectively eliminates unauthorised access to TrueVisions' signal and attracts more high-end subscribers with what is claimed to be an enhanced viewing experience and an increased number of high-definition channels

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Bank earnings jump in first 9 months
SARUN KIJVASIN
THE NATION November 17, 2012 1:00 am
Commercial banks' combined earnings in the first nine months soared 19 per cent year on year to Bt134.7 billion, despite a drop in business loans.
Anupap Kuvinichkul, a senior director for the Bank of Thailand on financial institutions' strategy development, said Thai banks had demonstrated greater financial strength with an average capital adequacy ratio of 15.9 per cent (including 11.9 per cent as Tier 1 capital). Several banks issued subordinated debentures to strengthen their Tier 2 capital ahead of the activation of Basel III standards next year.

"The [capital] levels are high and supportive of further economic expansion," he said.

In the third quarter, banks showed combined net profit of Bt4.2 billion, down 8 per cent from the previous quarter, because of higher loan provisions and higher taxes. Net interest margin eased to 2.54 per cent.

In the quarter, they showed 14.2-per-cent loan growth from the same period last year. Business loans, which accounted for 70 per cent of the total portfolio, slowed slightly from the second quarter but still showed 12.5-per-cent growth from the third quarter last year. This was largely driven by demand in the infrastructure and commerce sectors, and by small and medium-sized enterprises.

While business loans eased, consumption loans, which contributed 30.1 per cent of the total, expanded by 18.4 per cent year on year, mainly thanks to car financing on the back of the government's first-car-buyer scheme.

While mortgage growth in the quarter expanded at the same level as in the second quarter, consumer loans slowed slightly as post-flood consumption demand eased.

Banks' deposits and bills of exchange expanded by 12 per cent year on year. This brought down the ratio of deposits plus B/Es to loans to 91.4 per cent.

Banks raised Bt28.5 billion through subordinated debentures in the quarter and mobilised US$2.2 billion (Bt69 billion) through dollar-denominated bonds.

At the end of September, non-performing loans stood at Bt264.6 billion, showing a net increase of Bt1.8 billion. However, thanks to the enlarged loan base, NPLs accounted for only 2.4 per cent of total loans.

BOT Governor Prasarn Trairatvorakul said the biggest challenge for the country's monetary policy was to balance the policy rate, and the central bank had observed that the correct balance had been nearly achieved as the Thai economy had been growing and the inflation level was not under pressure.

However, factors of concern include the expansion nationwide of the Bt300 minimum wage and the restructuring of the energy-price structure. In addition, there are external factors overseas, including the economic problems in the United States and Europe, which are dynamic and need to be monitored continuously by the central bank's Monetary Policy Committee.

"The interest rate is quite balanced and the overall economy is getting close to its potential level. Inflationary pressure is not too high. Loan growth is moderate," Prasarn said

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
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UNLAWFUL CARGO SURCHARGES
Aust fines Thai A$7.5m for cartel conduct
THE NATION December 18, 2012 1:00 am
Thai Airways International has been slapped with a fine of 7.5 million Australian dollars (Bt242 million) for engaging in cartel conduct, a week after Singapore Airlines Cargo and Cathay Pacific Airways were ordered to pay a total of A$23 million in penalties in the same proceedings.
THAI president Sorajak Kasem-suvan said settling the case was the best choice, given the high possibility that the company would lose if it fought it in court and have to pay A$610 |million.

The fine will be paid from the company's reserves set aside against disputes. It will be paid in seven instalments over three years.

"The case stemmed from an agreement among 15 airlines in 2009 on cargo surcharges, reached without knowledge that it was in violation of the law. I can assure that this will not happen again," Sorajak said. A source at THAI said it had no plan to impose disciplinary action on company officers involved in the agreement.

The Australian Competition and Consumer Commission's action against THAI formed part of larger cartel proceedings taken against a number of international airlines, and total fines ordered in the entire proceedings have reached A$98.5 million. Among them, Qantas Airways was fined A$20 million, Singapore Airlines A$12 million, and Emirates A$10 |million.

The ACCC's trial against Air New Zealand and Garuda Indonesia continues in the Federal Court in Sydney.

THAI informed the Stock Ex-change of Thailand yesterday that it had paid the fine and costs from its own reserves.

The airlines were charged with violating Australia's Trade Practices Act 1974 (now the Competition and Consumer Act 2010).

"The court has now ordered total penalties in Australia of almost $100 million. The $7.5-million penalties ordered against Thai Airways have contributed to the highest total penalties resulting from a single ACCC investigation," commission chairman Rod Sims said in a statement released yesterday.

"Thai Airways is the 13th inter-national airline to have admitted |to engaging in cartel conduct in Australia and to have penalties ordered against it."

Delivering the judgement, Justice Anna Katzmann said: "THAI accepts that the contraventions were very serious. This was deliberate, systematic conduct involving senior staff at the Thai station in Indonesia. For the understandings to be effective, they required the participation of all players in the market including THAI."

The ACCC commenced proceedings against the airlines in 2009, alleging that they engaged in cartel conduct related to fuel and other surcharges.

As part of the settlement, Thai Airways admitted to reaching and giving effect to price-fixing understandings related to a fuel surcharge, security surcharge and customs fee for the carriage of freight from Indonesia to Australia.

The court ordered THAI to pay $7.5 million in penalties and a further $500,000 in costs, bringing the total penalties ordered in the entire proceedings to $98.5 million. It also issued an injunction restraining the airline from engaging in similar conduct for a period of five years.

Injunctions provide an additional deterrent and reassurance that the likelihood of repeat conduct is reduced, as reoffending would constitute |both a breach of the act and contempt of court, which carries significant penalties.

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
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CPF Investment
CP Foods to invest Bt5 BN for expansion in 2013
Yupin Pongthong

The Nation
December 28, 2012 1:00 am
Charoen Pokphand Foods (CPF) has set aside an investment budget of Bt15 billion for 2013 and targets total sales of Bt400 billion, up 14 per cent from estimated total sales of Bt350 billion this year.
The company's CEO, Adirek Sripratak, said that 55 per cent of its total sales would come from investments overseas, about 36-37 per cent from the domestic market and 7-8 per cent from the export market. This is a part of its business plan to boost sales to Bt600 billion in 2015.

Of the company's investment plan for 2013, 60 per cent will be for expansion in 12 countries where the company is already invested in and 40 per cent will be for the domestic market. Most of its investment in 2013 will be on existing projects at home and abroad, he said.

"Currently, we have investments in all strategic countries, including the Asean Economic Community (AEC) countries, as a result we will not invest in a new country. We will spend the budget to develop our existing projects in 12 countries and in the domestic market," he said.

He added that in 2013, the company also plans to acquire two businesses for which negotiations are on. If the deals are concluded, the company's total sales will increase more than estimated. He declined to reveal the names of the business.

The company believes that its total sales will achieve Bt350 billion at the end of this year, up 66.67 per cent from its total sales of Bt210 billion in 2011. About 55 per cent of total sales will come from its investments in 12 countries in the world, and the next 37 per cent from the domestic, as the rest eight per cent from export market.

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KTB off-loads its shares in insurance firms
Sucheera Pinijparakarn

The Nation December 28, 2012 1:00 am
Krungthai Bank has sold its stakes worth Bt4.8 billion in life and non-life insurance companies to KTB Capital Holding to comply with the law and restructure its shareholding.
Kittiya Todhanakasem, first senior executive vice president of KTB, said yesterday that the Insurance Act of 1992 required that the shareholders of an insurance company who are individuals or juristic persons must be Thai nationals.

The definition of "shareholder" does not include a state-run agency, so the bank was afraid that if its shareholding were not restructured, it might run afoul of the act when it is enforced in February, she said.

The bank has set up a holding company called KTB Capital Holding, in which it holds 49 per cent.

According to its filing to the Stock Exchange of Thailand, it has sold 67.75 million shares in Krungthai-Axa Life Insurance at Bt56.59 each, totalling Bt3.83 billion, and 2.75 million shares or 25 per cent in Krungthai Panich Insurance (KPI) for Bt966 million to KTB Capital Holding.

The Insurance Commission is amending the definition of shareholders to cover a state agency. If the act is amended, KTB will review its shareholding structure again.

KTB has not yet transferred its 19-per-cent equity in Dhipaya Insurance to the holding company because KPI is also a shareholder in Dhipaya, so KTB might have to make a tender offer, which is a complicated process. Dhipaya might negotiate with the regulator to waive the fines.

The bank prefers to hold on to Dhipaya because the insurance company contributes a good return, Kittiya said.

Weidt Nuchjalearn, senior executive vice president of KTB, said the bank believed that its employees should learn communication skills so bankers can also serve as financial advisers. KTB will give them training after the Bank of Thailand started closely monitoring the hard sale practices of commercial banks.

"Customers must be made to understand the importance of insurance from our staff before making a decision. Communication skills are the key to success of insurance sales," he said.

Of the 18 million accounts at KTB, fewer than 10 per cent have purchased insurance products via the bancassurance channel.

KTB plans to raise the proportion of customers who purchase insurance to 30 per cent next year by targeting individuals and groups of customers such as cooperatives and companies.

Fee income generated by bancassurance passed the Bt1-billion mark this year and the bank wants it to grow by 21 per cent next year, Weidt said.

Competition in the bancassurance market is expected to heat up, so the bank might have to spend more on marketing activities, he added.

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
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2012 PERFORMANCE
Banks set for 31percent surge in net profit
THE NATION January 8, 2013 1:00 am
Overall net profit of 10 commercial banks is expected to record 31-per-cent growth to nearly Bt170 billion in 2012, though the fourth-quarter results were somewhat weakened by loan-loss provisions and cost-to-income ratios.
Asia Plus Securities said in a research note yesterday that in the fourth quarter alone, the profits of the 10 banks was expected to grow by 90 per cent to Bt40.2 billion year on year but shrink by 9.4 per cent from the third quarter.

Asia Plus previously estimated the fourth-quarter net profits of the banking industry would drop by nearly 20 per cent from the third quarter and 79 per cent from the final quarter of 2011.

Kiatnakin Bank, TMB Bank and Bangkok Bank are expected to show outstanding profit growth, according to Asia Plus.

KK's profitability in the fourth quarter was driven by fee income from involvement in PTT Exploration and Production's capital increase and another deal with Tesco Lotus.

TMB Bank's profit growth was driven by high-yield loans, while Bangkok Bank's was backed by increased fee income.

According to Asia Plus, KK will report profit in the fourth quarter of Bt1.10 billion, up 19.7 per cent from the third quarter, TMB will show Bt1.64 billion, up by 14.5 per cent, and Bangkok Bank's profit will grow by 12.5 per cent to Bt8.77 billion.

Krungthai Bank is expected to witness a drop in profit due to the biggest loan-loss provisions. Asia Plus predicts the second-largest bank will report net profit of Bt4.87 billion, compared with Bt8.9 billion in the third quarter.

Kasikornbank and Bank of Ayudhya are expected to record declined earnings as well due to high loan-loss provisions and cost-to-income ratios.

Loan-loss provisions of banking industry in the fourth quarter will have increased by 41.7 per cent from the third quarter; however, this was not because of high rates of non-performing loans but was a strict measure by each bank to deal with economic volatility.

The cost-to-income ratio in the fourth quarter is projected to rise to 49.4 per cent from 45.5 per cent in the previous quarter.

The strong earnings in the first three quarters of 2012 are sufficient for the banking industry to record new profit highs for the full year.

For this year, the outlook for lending remains aggressive growth, as the brokerage house expects expansion by 13.6 per cent from 2012. Business loans are in the spotlight thanks to the infrastructure investment by the government and lending demand due to urbanisation, driven by the upcoming Asean Economic Community.

Finansia Syrus Securities forecasts that the fourth quarter of 2012 will show the lowest profits for the banking sector because of high loan-loss provisions and high cost-to-income ratios.

KK, Siam Commercial Bank and Bangkok Bank are expected to show outstanding profit growth in the quarter, while KTB and KBank will report the significant reductions.

However, the market will be interested in the strong yearly performance of the banks, not quarterly profits, Finansia Syrus expects.

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
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True plans to launch 4G service in April
Usanee Mongkolporn
The Nation February 11, 2013 1:00 am
True Corp plans to launch 4G wireless broadband service on the 2.1-gigahertz spectrum in Bangkok in April in a bid to steal the show from its rivals, which are expected to debut the 3G service on their 2.1GHz spectrum bands in the same month.


A True source said the company had already ordered imported 4G network equipment, which will utilise the 2.1GHz spectrum. It plans to launch the 4G service in a few commercial areas in Bangkok.

True subsidiary Real Future is one of the three holders of the 2.1GHz spectrum licences granted by the National Broadcasting and Telecommunications Commission (NBTC) last December. Under this technology-neutral licence, they can utilise any technologies to provide cellular service.

The other two licence holders are Advanced Wireless Network (AWN) of the largest cellular operator Advanced Info Service (AIS), and DTAC Network of the second largest cellular operator Total Access Communication (DTAC). All three licence holders are expected to kick off the 2.1GHz service in April.

AIS chief executive Wichian Mektrakarn said that at this stage, AIS has focused on the 3G-2.1GHz service and the nationwide 2.1GHz network rollout.

A telecom industry source believes True group will not launch the 4G service nationwide, but only in a few spots, due to the lack of commercial viability. Eventually it will have to launch the 3G service on the 2.1GHz spectrum. True and DTAC currently have considerable bandwidth - enough to enable them to offer 4G service in some areas. AIS recently said it needs more spectrum bandwidth to serve its future business plan. It is likely to join with its concession owner, TOT, in the future to offer the 4G service.

DTAC group holds 1,800 megahertz, 850MHz and 2.1GHz spectra, while True group has 2.1GHz and has partnered with CAT Telecom to offer 3G service on 850MHz. AIS holds 900MHz and 2.1GHz spectra. The 1,800MHz concession of AIS subsidiary Digital Phone Co will end this September, the same time as that of TrueMove of True.

Last year AIS, DTAC and TrueMove test-launched the non-commercial 4G service on their existing spectra with the NBTC's consent.

Last week True group called a "CEO Vision" internal meeting of 2,500 high-ranking executives. True chief executive officer Suphachai Chearavanont told the executives in the meeting to join forces to make True group the leader on all fronts, including the wireless service arena.

True has also sought a possible foreign partnership to bolster its strength. One likely suitor it is reportedly in talks with is telecom giant China Mobile. True's chief financial officer Noppadol Dej-udom declined to confirm the report about China Mobile, saying only that talks on a possible tie up with a foreign partner are ongoing.

"Choosing a lifelong spouse will take as long as it requires. We prefer to take as much as time needed to make the right decision on this important subject," Noppadol said.

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
*******************************************************************************

Back in black Thaicom upbeat on future
The Nation February 15, 2013 1:00 am
Satellite operator Thaicom posted consolidated net profit of Bt174 million last year, its first profit in five years and a turnaround from its net loss of Bt490 million for 2011.


The board of directors on Wednesday passed a resolution to propose payment of a dividend of Bt0.40 per share, pending approval by the company's shareholders at the annual general meeting late next month, chief executive officer Suphajee Suthumpun said.

Revenues from sales and services rose to Bt7.26 billion, an increase of 9.7 per cent over the previous year, with satellite operations contributing more than 86 per cent of overall revenues.

Income was boosted by a 13.8-per-cent increase in revenue from the Thaicom 5 satellite, mainly attributable to increased value-added services offered to clients and continued growth of broadcasting services, and 7.7 per cent growth in income from the iPSTAR broadband satellite due to realisation of full-year revenues from deals signed in 2011, including Softbank, Measat and NBN Co.

"Our satellite operations are improving continually, and more than 86 per cent of our revenues now come from this sector," Suphajee said. "With pre-launch sales of Thaicom 6 reaching nearly 40 per cent, the percentage contribution to overall revenues from this sector will grow rapidly when Thaicom 6 is launched later this year, and Thaicom 7 in 2014."

A licence was awarded to the company last year to operate the Thaicom 7 satellite. The firm also saw the preservation of the 50.5 degrees east longitude orbital slot for Thailand, and a major breakthrough in the China market with the signing of a framework agreement with China Telecom Satellite and Synertone Communication Corporation for the sale of all iPSTAR bandwidth available over that country - 24 per cent of iPSTAR'a capacity.

Last month, Cambodia-based telecom operator Mfone, a Shenington subsidiary, filed for insolvency. The Cambodian court is now considering the case. Once resolved, Thaicom will no longer be carrying the losses from Mfone this year. Thaicom owns 51 per cent of Shenington.

According to Trinity Securities, though Thaicom's profit last year was lower than the brokerage's expectation, it expects 2013 net profit to be 4.9 times last year's level. The brighter prospects are partly because it will not have to realise Mfone's quarterly losses of Bt120 million from the second quarter onward. As well, the iPSTAR business has continued growing. The launch of Thaicom 6 broadcasting satellite in the middle of this year is also expected to support its growth from 2014 onwards.

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
*******************************************************************************

Expansion
KBANK seeks partnerships in US
Sucheera Pinijparakarn

The Nation February 18, 2013 1:00 am
Kasikornbank is looking for business partnerships in the United States after entering a tie-up with Germany's second-largest bank, Commerzbank, last month as KBank extends its network beyond Asean.
Somkiat Sirichatchai, a senior executive vice president, said KBank must look ahead to when the US economy recovers, noting that the United States was attempting to establish a free-trade agreement with the European Union.

Thailand might be required to open talks with the US on the Trans-Pacific Partnership as well, he said.

However, the links between European and Asean countries are clearer, given the growth in direct investment in this region by European companies.

Corporates in Europe see opportunity in Asean, especially the CLMV countries (Cambodia, Laos, Myanmar and Vietnam), from the up-coming Asean Economic Community, and they see Thailand is a springboard into CLMV, he said.

The AEC will open opportunities for significant expansion by European companies to offset the weakening of the euro zone.

Thailand has a strong economy driven by such industries as auto-motive, agriculture, consumer products and tourism. However, the country needs to shift from labour-intensive industries to high-value-added technology to escape the rising cost of labour.

European companies know this is an opportunity for them to transfer high technologies through trade and investment in Thailand, from where they can expand into CLMV.

Meanwhile, KBank wants to expand beyond the AEC as it sees Thai corporates exploring opportunities in Europe, he said. The lower prices of high-tech assets in Europe are attractive for Thai companies right now.

KBank and Commerzbank have the same business model of finding local bank partners to refer corporate customers. Their partnership agreement was signed last month.

Under the partnership, the two banks can refer their clients to each other. KBank customers that seek to invest in Germany or other countries in Europe can access financial services from Commerzbank, while the latter can refer German investors who want to do |business in Thailand to KBank.

Commerzbank has expertise in corporate banking, and has 1,200 branches in more than 50 countries and a customer base of more than 16 million.

Somkiat said KBank had more than 10 deals in the pipeline from the partnership. They include financial advisers to Thai corporates that are seeking buy assets in Europe and helping Thai companies find partners and new markets.

Construction materials and processed agricultural products are in the focus of big Thai companies that plan to invest in Europe, he added.

Songpol Chevapanyaroj, an executive vice president, said German companies with annual revenue of Bt10 million to Bt500 million are planning to invest in Thailand.

KBank currently has 35 partner banks in nine countries - Japan, South Korea, Singapore, Laos, Indonesia, Vietnam, Cambodia, Myanmar and the US - as well as in the EU, and two representative offices, one in Japan and one in Myanmar. Somkiat said KBank this year would have additional partner banks in Malaysia, the Philippines and Brunei

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
*******************************************************************************



PTTGC budgets Bt300 bn for ten years
Warin Trino
Watcharapong Thonrung
The Nation February 22, 2013 1:00 am
Firm seeks total revenue of Bt800 bn to Bt900 bn by 2022


PTT Global Chemical plans to invest Bt30 billion a year or Bt300 billion within 10 years to set up new petrochemical plants in Malaysia, Indonesia and China.

This will drive total revenue to between Bt800 billion and Bt900 billion in 2022, PTTGC CEO Anon Sirisaengtaksin said.

He added that the investment budget will come from the company's cashflow and issue of dollar debentures for $4.5 billion (Bt135 billion) to $5 billion within five years from now. The company issued debentures for $1 billion last year. The company plans to issue the next $1 billion in the last quarter of this year or may be in the first quarter of 2014. This will maintain its debt-to-equity ratio at not over 0.7:1 and debt to EBITDA (earnings before interest, taxes, depreciation and amortisation) at not over 2.4:1.

Currently, the company has a debt-to-equity ratio of 0.38:1 and debt-to-EBITDA of 1.3:1.

Meanwhile, the company plans to issue 10-year debentures to balance its business investment plan and also to manage its debt currency to match its income. As the company is investing overseas, it has to issue the dollar debentures. This is a part of managing foreign exchange risk by using natural hedging.

At present, 63 per cent of total debt is in baht and the rest 37 per cent in US dollars.

Following the investment plan, the company is studying to expand the investment in three countries, including Malaysia, China, and Indonesia.

In Malaysia, the company will join with Petronas Group, while Indonesia will join with Pertamina Group, and China will join with Sinochem Group.

"We will finalise the decision on the joint venture in the middle of this year, which will be the final only two projects for this year. This is a part of managing our financial debt," he said.

The company targets its EBITDA will grow an average 15-30 per cent within five years from now or an average growth of 5-6 per cent a year from now, recording Bt55 billion. This will drive its total revenue to between Bt800 billion and Bt900 billion in 2022, he said.

The company announced total revenue of Bt562 billion and net profit of Bt34 billion for 2012, up 12 per cent and 13 per cent respectively from 2011.

Meanwhile, PTT Exploration and Production plans to increase its share in Mozambique's Rovuma Offshore Area 1 after existing shareholder USA-based Anandarko Group and India-based Videocon announced their decisions to sell their 10-per-cent stake each, the company's president and CEO Tevin Vongvanich said.

Currently, Anandarko Group, who also operate Mozambique Rovuma Offshore Area 1, hold 36.5-per-cent stake in this offshore area, while Videocon hold 10 per cent.

PTTEP subsidiary Cove Energy Co holds only 8.5 per cent stake in Mozambique Rovuma Offshore Area 1.

Meanwhile, the company is also interested in investing in shale gas and shale oil in the US. That decision would depend on business opportunity as currently the company has a debt-to-equity ratio of only 0.35:1. There is enough room to raise funds or issue debentures to support business expansion in the future, he said.

The company announced total revenue of Bt218.13 billion and Bt57.31 billion net profit for 2012, up 25 per cent and 28 per cent respectively over 2011

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
*******************************************************************************


TTW eyes Yangon for its maiden foray overseas
Chularat Saengpassa
The Nation
Yangon February 26, 2013 1:00 am

Sompodh: We
Thai Tap Water Supply (TTW) is eyeing a project in Myanmar as part of its strategy to look for opportunities abroad in light of slowing demand in Thailand.


"This will be our first overseas tap-water project," managing director Sompodh Sripoom said yesterday.

The company has surveyed target areas in Yangon and local partners are being sought. This follows surveys in other cities in Myanmar such as Mandalay and Nay Pyi Taw.

"With a 7.5-million population, Yangon is the most promising. In other cities, they are now demanding infrastructure like roads and electricity. But in Yangon, the city has witnessed fast expansion in tourism and construction.

"All new businesses need water. This tap-water project has indeed drawn attention from many bidders, but we're confident that TTW - with more than 10 years of experience - stands a chance to win."

The investment plan for Yangon is expected to be submitted next quarter, he told a press conference in Yangon.

Last year, the company bought a stake in CK Power (Laos), a hydropower-related unit of Ch Karnchang Group, which now is the majority shareholder in TTW.

TTW might only operate the plant or might also get involved with distribution in the project, which would not require a big investment, as the service will cover only parts of the big city. However, it is important to get the right local partner to take charge of operations, Sompodh said.

"We won't bring in our men here, because of the [big] wage differential and other factors."

The overseas investment plan was actually launched last year, aimed first at Laos and Vietnam, but because TTW acted too slowly, some other companies made the first moves into those countries. The firm is still interested in entering them, but now through acquisitions.

Expansion is a must to maintain 15-per-cent annual revenue growth, which is the goal of its Bt23.8-billion five-year plan (2013-17).

This year, about Bt5 billion is set aside for the acquisition of a tap-water business in Thailand and also for the expansion of its Pathum Thani plant from 380,000 cubic metres a day to 480,000.

It also plans to invest Bt2 billion to add capacity to the Samut Sakhon plant. TTW will celebrate the milestone production of 10 million cubic metres this year.

In 2017, revenue should hit Bt10 billion, with 93 per cent derived from the water business, while 7 per cent will come from other businesses including clean energy. The company still wants to invest in a 10-megawatt solar farm, pending approvals.

Last year, TTW's earnings climbed 14.6 per cent to Bt2.21 billion, but revenue increased only 8.4 per cent to Bt5.3 billion. Operating costs were driven by higher electricity and chemical bills. The tax exemption granted by the Board of Investment also ended last July and the lower corporate-income-tax rate could not fully compensate for it.

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
*******************************************************************************


CPF subsidiaries investing Bt250m in Laos, Cambodia
THE NATION March 4, 2013 1:00 am
Charoen Pokphand Foods is preparing to invest more in Laos and Cambodia to set up feed mills and livestock farms.


CP Laos and CP Cambodia are investing a combined Bt250 million to set up a new silo for maize in Cambodia and a new feed-meal plant in Laos to strengthen CPF's integrated agricultural-industrial business as the Asean Economic Community (AEC) approaches.

The investment will involve the purchase of a maize silo and drying plant in Cambodia and the establishment of a new feed-mill plant in Champasak province, southwestern Laos.

The company has also invested further in its three core businesses of feed production, farming and food processing in the two countries. Its businesses there are focused on the efficient development of the supply chain to access quality raw materials. This is aimed at making CPF well placed to serve rising demand once the regional single market is established in 2015.

Sakol Cheewakoset, president of CP Laos and CP Cambodia, said the opening up of the regional market under the AEC would create great business opportunities for both investment and export to neighbouring countries as well as developed nations.

CPF is continuing to invest in Laos and Cambodia to take advantage of increasing purchasing power of people there. Moreover, the two countries are fully supportive of the CP subsidiaries. Political stability in both countries has prompted economic growth to ensure sustainable business development.

Most recently, the company has invested in developing a silo and drying plant for maize in Pailin province, western Cambodia. The investment is to ensure high-quality raw material to serve its feed production for both the domestic market and export.

Since 1995, CP has invested a total of Bt3 billion in Cambodia, including feed production, livestock farming and food processing such as sausage-making and slaughterhouses.

Sakol said the plant in Pailin province would ensure the company's distribution in western Cambodia, an important area for agricultural production. Having a plant there will reduce logistics costs. Initially, capacity is set at 10,000 tonnes per month.

The company is also considering investing in aquaculture in Cambodia in the near future.

"CP's business in Cambodia is doing well, as food business still has great opportunity. Our five-year business plan aims to double our total sales every year," Sakol said.

He added that Cambodia had to import feed meal and live swine from neighbouring countries. CP Cambodia's revenue is growing by an average of 20 per cent a year, but it hopes to achieve 30 per cent growth this year from its business expansion.

Meanwhile, investment in Laos has reached approximately Bt1 billion in the feed, farm and food businesses. However, the food business is in the beginning stage, with only Five Star grilled chicken launched so far.

CP operates one feed mill in Vientiane with production capacity of 10,000 tonnes per month. The new plant in Champasak province will have initial production capacity of 5,000 tonnes per month to serve consumption in southern Laos. Having a plant there will reduce the company's logistical cost by avoiding the need to transport goods from Vientiane.

Sakol noted that CP Group chairman Dhanin Chearavanont had said the group should not concentrate only on feed, farming and food processing but also on organic production of both livestock and crops in Laos and Cambodia. This plan aims to serve their growing economy and increasing the number of foreign visitors.

Moreover, organic production would enhance the two countries' exports to North America and the European Union. The most important thing is to create and organic supply chain in both countries.

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
*******************************************************************************

Banpu to invest more in power business
Warin Trino
The Nation March 16, 2013 1:00 am
Banpu plans to invest more in the power business to boost profit contribution from this area to between 30-40 per cent of total net profit from the present 20 per cent, and to deal with the volatile global price of coal, its president Chanin Vongkusol said.


The company will focus on investing more in the electricity business in Thailand and its neighbouring countries.

Average capacity

Its average production capacity of coal until 2015 is expected to expand 10-11 per cent. This year, Banpu is targeting production of about 48 million tonnes of coal, up by 4.2 million tonnes from last year. The total production in 2014 is expected to surge to 54.2 million tonnes and 57.3 million tonnes in 2015.

Chanin said that despite the signs of improving coal price this year, Banpu still exercised caution and remained focused on strengthening its core business and growing its business from its existing assets.

He added that last year was challenging for coal businesses worldwide due to the 20-per-cent decline in the price of low-heat yielding coals following the increase in coal exports from the US and the increasing use of natural gas to produce electricity in the US.

He said that Banpu last year focused on improving its cost management efficiency and boosting production capacity efficiency of its coal sources in Indonesia and Australia as well as trimming some corporate costs, to deal with the flagging coal price.

Banpu's share price yesterday closed at Bt384, up 1.05 per cent.

[schmithi]

post 220 TUF
post 221 BANPU, RATCH
post 222 KTB, Property sector
post 223 EGCO, PTTGC
post 224 IVL
post 225 PTTEP
post 226 PTT, SCC, BJC
post 227 DTAC
post 228 SCC
post 229 TUF
post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
*******************************************************************************

SCG consolidates for higher regional strength
The Nation March 29, 2013 1:00 am
Focus on building related businesses


Siam Cement Group is consolidating its cement and building-materials businesses - the two fastest-growing - to strengthen its competitiveness for further regional expansion.

"There is strong synergy among the cement, building materials and distribution businesses, which are related to the construction industry," Kan Trakulhoon, president and chief executive officer of the industrial conglomerate, said in a filing to the Stock Exchange of Thailand on Wednesday.

With the aim to increase Asean sales from 18 per cent of the total, the group has budgeted Bt40 billion to Bt50 billion for further regional expansion via mergers and acquisitions. Besides a petrochemical complex in Vietnam, much of the investment could be slated for a floor-tile plant in Vietnam and cement plants in Cambodia, Indonesia and Myanmar.

"This business restructuring aims to strengthen operating excellence further, as well as to accelerate the development of products and services to serve customers, and to improve technological advancement," Kan said.

"Furthermore, as SCG expands its operations across the Asean region, this business restructuring will enhance the overall competitiveness over the longer term."

The board of directors on Wednesday approved the organisation-restructuring plan. It will create a single market-facing entity and will be referred to as SCG Cement-Building Materials. The two other core businesses - paper and chemicals - remain unchanged.

The new business unit will have Kajohndet Sangsuban as the president and vice president for the domestic market, Pichit Maipoom as vice president for operations and Aree Chavalitcheewingul as vice president for regional business. Last year, these three businesses accounted for 36 per cent of total consolidated sales and about half of profit.

Brokerages that recommend the stock are convinced that cement and building materials will help boost the group's profit this year. Against 12-per-cent growth in domestic cement demand, SCG expects 7-8 per-cent growth this year, driven by a surge in residential, commercial and infrastructure construction. The cement price increased to Bt1,825 per tonne in the fourth quarter of 2012 and should rise a little further this year, pushed up by demand. According to Bualuang Securities, the business' EBITDA (earnings before interest, taxes, depreciation and amortisation) margin is expected to expand, thanks to a higher price, lower coal cost and more domestic sales in the revenue mix.

The boom in provincial housing, particularly detached houses, and new investments in Asean should sustain strong sales growth. SCG's acquisition of Prime Group in Vietnam will boost the group's ceramic capacity by 50 per cent when it is completed this quarter.

"The cement and building-materials businesses should continue to perform well on the back of strong growth in the housing market and the rise in housing construction. Transfers at housing firms under our coverage are likely to rise by 15-20 per cent. Cement demand is projected to grow by 5-10 per cent," said Phillip Securities (Thailand).

The research notes were released before the Housing Finance Association proposed for the government to raise the legal down payment to 30 per cent to stem speculation in the detached-housing and condominium segments. Asia Plus Securities is convinced that the higher down payment would pressure demand particularly in condos, as 20 per cent of condo buyers already have a first home.



Most profitable units

_ The three units generated half of the group's consolidated profit in 2012.

business revenue (Bt bn) profit (Bt bn)

cement 67.56 9.16

building materials 41.34 2.95

distribution 126.69 1.035

Source: Siam Cement Group

[schmithi]

post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
*******************************************************************************

Giants join for petrochemical complex
Watchara Pussayanawin
The Nation April 2, 2013 1:00 am

PTTCG and Pertamina signed a tentative deal yesterday in Thailand to invest jointly in a petrochemical complex in Indonesia. PTTCG CEO Anon Sirisaengtaksin, third from right, shakes hands with Hanung Budya, Pertamina
All output to serve fast-rising demand of Indonesia market


PTT Global Chemical has signed a tentative deal with Indonesian oil and gas company Pertamina to develop a petrochemical complex in Indonesia worth up to Bt150 billion.

The two companies signed the heads-of-agreement deal yesterday in Thailand to determine the framework of their collaboration to study details of investment and a business plan, and to set up a joint venture to establish the petrochemical complex, said PTTCG chief executive officer Anon Sirisaengtaksin.

The complex will comprise a refinery, an olefin plant with capacity of 1 million tonnes per year, and a downstream polymer plant, all to serve the fast-rising demand of Indonesia's market.

The cost of the establishing the complex will be US$4 billion to $5 billion (Bt117 billion to Bt147 billion). Pertamina will own 51 per cent of the project, while the Thai partner will hold the remainder.

Of the total investment, 50 per cent will be financed by loans. Of the rest, each of the two partners will contribute about $1.2 billion. Anon added that PTTCG had sufficient cash flow to finance the project.

The joint venture serves part of PTTCG's strategy of boosting its strength by expanding its regional market. It is possible that in the future PTT Group and Pertamina will expand their collaboration in other business areas.

Pertamina president and CEO Karen Agustiawan said the olefin plant planned under the deal was expected to be up and running by 2017.

After this the company will also discuss with PTT Exploration and Production the possibility of collaboration on the exploration of new petroleum fields.

Besides Pertamina, PTT Group is also interested in partnership deals with other global oil giants. PTTCG is in talks with China's Sinochem group to explore the possibility of setting up a polyurethane plant with production capacity not lower than 300,000 tonnes per year. The talks are expected to be wrapped up in June.

During the past two months the prices of petrochemical products have been higher than last year.

While PTTCG will conduct refinery-plant maintenance for 30-40 days in the middle of this year, its olefin production will be continued at full steam, which means its revenue will not be affected, it says. Though olefin contributes only 30 per cent of total revenue, it contributes 70 per cent of total net profit. Olefin fibre is used in ropes and car interiors.

The company expects that its revenue this year will not be lower than last year's, which stood at Bt550 billion.

[schmithi]

post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
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TCAP to see best quarter after sale of insurer
SUCHEERA PINIJPARAKARN
THE NATION May 9, 2013 1:00 am
Thanachart Capital's earnings this quarter will mark a high for this year as it books the full profit from selling its life-insurance unit to Prudential Thailand.
Anuwat Luengtaweekul, an executive vice president at TCAP, said the second quarter would post the firm's highest quarterly earnings of 2013.

TCAP is the parent company of Thanachart Bank, which sold Thanachart Life Assurance for Bt18 billion. He declined to reveal the profit from selling the life-insurance unit but said the bottom line in the second quarter would certainly be higher than the first quarter's Bt2 billion.

Prudential Life Assurance (Thailand), a subsidiary of Pru-dential, and TBank yesterday announced the completion of the sale of 100 per cent of the shares of Thanachart Life Assurance to Prudential Thailand and the commencement of their exclusive 15-year bancassurance partnership.

TBank has now begun distributing Prudential Thailand's life-insurance products through its network of more than 630 branches across the country.

The integration of Thanachart Life's operations has also started and, during the transition period, its policies will continue to be serviced by TLife. The terms and conditions of the policies remain unchanged.

Anuwat said the exclusive partnership would boost non-interest income from the current level of 40 per cent.

The profit from selling TLife will also help increase the bank's capital-adequacy ratio by 1 percentage point from 13 per cent, and the higher ratio is expected to go into its official report in August.

Somjate Moosirilert, president and chief executive officer of TBank, said its staff had recently completed comprehensive training on the products and services from Pru-dential. They could now offer these high-quality insurance products to TBank's customers.

"With Prudential's world-class products offered by our trained staff through our extensive nationwide network, we are confident that the bancassurance partnership be-tween Prudential and Thana-chart will be highly successful," he said.

Barry Stowe, CEO of Prudential Corporation Asia, said: "The acquisition of Thanachart Life and partnership with Thanachart Bank are key milestones for Prudential in Thailand and demonstrate our commitment to grow our operations here."

Brendan King, deputy CEO of Thanachart Bank, said the partnership with Prudential was a further demonstration of TBank's commitment to bring the best products and services to customers.

"Thanachart Bank and Pru-dential are committed to offering best-in-class products and services, and by closely working together, we are confident of being able to fully meet our clients' increasingly complex insurance needs."

Binayak Dutta, CEO of Pruden-tial Thailand, said: "We are pleased to receive approval to complete our acquisition of Thanachart Life and we will ensure that the integration is seamless."

[schmithi]

post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
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DTAC targets 10m new subscribers for TriNet 3G
Usanee Mongkolporn
The Nation May 10, 2013 1:00 am

Jon Eddy Abdullah, CEO of DTAC
DTAC yesterday unveiled the TriNet brand for its third-generation service with the goal of 10 million new subscribers this year.


The service will run on DTAC's new 2.1-gigahertz network as well as its old 1,800- and 850-megahertz networks.

This week, the three major mobile operators - Advanced Info Service (AIS), True Corp and Total Access Communication (DTAC) - launched their 3G and 4G services for 2.1GHz. They all are targeting about 10 million new customers each.

AIS launched its service on Tuesday and True Corp on Wednesday, but DTAC said it would launch its service early next month.

"No need to rush to launch. We will launch when we are ready both in networks and devices," said Jon Eddy Abdullah, chief executive officer of DTAC.

DTAC said it had already installed about 1,000 3G-2.1GHz base stations, covering 30 per cent of the population; 5,200 3G-850MHz sites, covering 65 per cent; and about 10,000 2G-1,800MHz sites covering 85 per cent of the population. It plans to invest Bt34 billion until 2015, with Bt12.5 billion earmarked for this year. The company plans to have about 5,000 3G-2.1GHz cellular sites by year-end.

TriNet will start serving new subscribers on June 5 as part of DTAC's 3G-2.1GHz launch plan.

Pakorn Pannachet , senior vice president and head of marketing, said the company was offering a variety of promotions for voice and data users. Voice packages start at Bt149 per month with 200 minutes of free calls. DTAC claims that all new packages are about 15 per cent cheaper than its existing promotional packages.

"We're expecting to acquire 3.25 million new subscribers and 3.25 million migraters from existing 2G services this year. We have 3.5 million subscribers for 3G-850MHz service and will reach 10 million subscribers by year-end," he said.

DTAC has 26.6 million 2G-1.8GHz subscribers under its concession from CAT Telecom. DTAC will focus on expanding its service under a licence from the National Broadcasting and Telecommunications Commission instead of under the concession as the licence fee at 5.75 per cent of revenue is much lower than the concession fee of 30 per cent.

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KBank expands remittance service to Myanmar
THE NATION May 9, 2013 1:00 am

Kasikornbank President Predee Daochai, right, and U Kyaw Lynn, left, executive vice chairman & CEO of Co-Operative Bank from Myanmar, held a press conference on workers' remittance service to Myanmar via K-ATMs available nationwide, starting May 28.
Kasikornbank is expanding the channels available for its workers' remittance service, aiming to double the bank's fund-transfer service network in Myanmar.
KBank president Predee Dao-chai yesterday said the number of Myanmar workers in Thailand currently stood at around 3 million, with an additional 1.8 million expected to be granted work permits by this year-end.

The bank, in cooperation with the leading Myanmar institution, Cooperative Bank, is broadening local service areas for the remittance service offered through 880 K-ATMs nationwide and available in the Burmese language.

KBank is the first commercial bank in Thailand to offer a workers' remittance service to Myanmar. The bank introduced the service last year.

A second Myanmar bank, Asia Green Development Bank, is also offering the service in cooperation with the Thai institution.

The service ensures Myanmar workers in Thailand of safe money transfer to their home town, with a guaranteed receipt of arrival within a specified time.

Established in 1992, Cooperative Bank is one of the leading commercial banks in Myanmar and one of the four banks permitted by the Central Bank of Myanmar to receive funds transferred from Thailand, Singapore and Malaysia.

Predee said the expansion of banking partners would help increase KBank's number of remittance customers to about 100,000, from 10,000 at present. This will boost the relatively low level of fee income currently generated by the service.

The fee charged for fund transfer is Bt100 per transaction, and the maximum transfer amount is set at Bt100,000 per person per day.

Funds can be received within the same day, for transactions made before 2pm, at Cooperative Bank's 260 branches in Myanmar.

COMPLETE SERVICES

The expanded service area in Myanmar will kick off on May 28.

Predee said KBank's policy was to offer complete financial services ahead of the Asean Economic Community's inception in 2015, with the bank placing emphasis on regional connections and strategy to be a truly Asian bank.

KBank early this year opened a representative office in Yangon as a centre.

Its aim is to serve Thai businesses wishing to invest in Myanmar and/or seeking new markets for their exports.

The representative office offers a one-stop service for consultation and in-depth information in markets, trade, investment, law, major business networks, local financial institutions and global business-matching, benefiting from the bank's customer base and business networks.

Siam Commercial Bank last month cooperated with Kanbawza Bank, the leading private bank in Myanmar, to introduce a new SCB ATM fund-transfer service catering to Myanmar workers in Thailand.

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Commercial banks' lending grows 13.2% in first quarter
The Nation May 10, 2013 1:00 am
On higher private consumption and investment, commercial banks' credit continued to expand 13.2 per cent year on year in the first quarter.


Anupap Kuvinichkul, senior director of the Financial Institutions Strategy Department at the Bank of Thailand, said business credit, which accounted for 69.9 per cent of the total, grew by 10.4 per cent in the first three months of this year. That level of growth was down slightly from a year earlier partly because large operators were turning more to debt and equity instruments for fund mobilisation.

Credit to small and medium-sized enterprises, which amounted to 36.7 per cent of business credit, rose 16.2 per cent. Credit extension was seen in the commerce, manufacturing, property and utility sectors. Consumer credit, which accounted for 30.1 per cent of the total, expanded 20 per cent over the first quarter of last year.

Outstanding non-performing loans rose slightly from the previous quarter to Bt256 billion.

Outstanding special mention loans were Bt251.2 billion.

Given likely economic fluctuations, commercial banks set aside more provisions to 158.9 per cent of requirements.

Despite satisfactory credit growth, commercial banks saw a drop in net interest margin to 2.49 per cent because of high competition in the consumer-loan segment.

Commercial banks' net profit totalled Bt52.3 billion in the first quarter of 2013, up 33.5 per cent from the prior quarter. Return on assets was 1.4 per cent.

Their overall capital adequacy ratio was 15.8 per cent, according to Basel III requirements.

Meanwhile, the Thai Life Assurance Association revealed that life-insurance premiums grew by 20 per cent year on year to about Bt109.5 billion in the first quarter, higher than the association's whole-year target of 17.3-per-cent growth. First-year premiums reached Bt38.3 billion in the quarter.

The association attributed the growth to better consumer understanding of the insurance business as well as the expansion of channels for accessing insurance service.

The people are also more interested in insuring their health, which coincides with the worldwide trend to longer life spans.

[schmithi]

post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
post 254 CPF, TUF, THAI, AOT
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Sustainability
CPF on the green path
The Nation May 12, 2013 1:00 am

CPF uses wastewater released from food-processing at its Min Buri plant to produce biogas, which in turn powers steam boilers.
As one of the country's biggest food producers, Charoen Pokphand Foods is increasingly using advances in technology to maintain its margins - enabling it to save costs and also conserve energy.


Under its "Green Business" policy, CPF is looking at ways to save energy at each stage of the production process, ensuring that the end product delivered to the consumer is produced with as little impact to the environment as possible.

"The company's top management has placed a strong emphasis on energy efficiency. It's a policy that has been in place within all of our business units since 2004," said Charubutr Kirdudom, assistant vice president of CPF's Safety Health and Environment (SHE) Office.

For the energy policy to work, it was necessary that the company's employees were made aware of the importance of energy efficiency and the company's target to reduce energy consumption by 20 per cent.

"Since 2004, the company has incorporated many energy-saving processes in its business units and subsidiaries. In fact, we have introduced more than 200 processes and have invested about Bt350 million in them. This has helped us to save energy and also around Bt1 billion in costs," Charubutr said.

His department is now in charge of the "CPF SHE Reporting System", which compiles information from the company's business units to ensure the green policy is being effectively utilised.



Three areas in focus

The policy focuses on three key areas, the first two of which are the efficient use of resources and the improvement of operations, which leads to more effective energy-saving.

The latter is also achieved with the use of high-quality machinery designed for specific tasks. Staff training projects have also been conducted to demonstrate processes of energy consumption.

The third key area is improvement in waste management, in order to save and recover any wastage of water.

Energy-saving technologies are also used to utilise things like waste heat and reuse it in steam boilers, while the company has also tapped into biogas - sourced from farms and food-processing plants.

Renewable energy is now a prominent source of energy for the company, which operates 16 manufacturing plants nationwide. Renewable energy, accounting for 14 per cent of total energy consumption in 2008, was raised to 22 per cent last year.

"At present, at all of the company's 16 feed plants, including 11 for livestock production and aquatic feed mills, biogas becomes primary energy and this can reduce fuel consumption by more than 46 million litres per and up to 138,000 tonnes of CO2," said the executive.

CPF also turns used vegetable oil from its fried-chicken manufacturing plants to produce pure biodiesel.

The company recently opened a new biodiesel factory at its Min Buri1slaughter and processing plant. The plant has the capacity to utilise about 50,000 litres used vegetable oil per month.

The company now has the combined capacity to produce 2.3 million litres of biodiesel per year: 960,000 litres from its Saraburi plant, 744,000 litres from Nakhon Ratchasima and 600,000 litres from Min Buri.

With biodiesel, the company relies less on fuel oil in its chicken-processing factories, which helps shield it from price volatility. Meanwhile, the used oil is taken care of in an environment-friendly and hygienic way, he said.

Through these strategies, electricity last year accounted for 48 per cent of energy consumed by the company. The rest was a mixture of fossil fuels such as fuel oil and coal, as well as renewable energy like biomass from palm shells, rice husk and chopped wood.

Moreover, CPF is also seeking materials from nearby communities to generate renewable energy, thus lessening global-warming impacts and reducing energy imports. This will also generate income for the locals and create new jobs, Charubutr said.



Co-generation expansion

CPF will, he added, continue to expand the energy-saving policy through the establishment of a co-generation project to produce electricity and steam for use in the manufacturing process.

Its co-generation plant in Saraburi now serves as a model for the extension of another three such projects: Min Buri 2, Nong Chok and Saraburi Phase II.

These projects fall under the Clean Development Mechanism in the form of the "CDM-Bundle Programme" with a combined investment of Bt500 million.

The overall project is expected to save 50,000 kilowatt hours of electricity and reduce CO2 emission by 30,000 tonnes per year.

Successful biogas production at the Min Buri I plant will also be replicated at another six manufacturing plants in Rayong, Samut Sakhon, Songkhla, Nakhon Ratchasima and Bangkok.

Solar energy is also generated at the Min Buri I processing plant, in order to warm water. This reduces the use of bunker oil by 146,000 litres per year and greenhouse-gas emission by 432 tonnes of CO2 annually.

Charubutr added that in the next three to five years, CPF would encourage all department units to create new energy innovation, while the production chain would be improved to achieve the international energy-management standard - and awareness among employees at all levels would also be heightened.

"Only this will help the company achieve sustainable energy efficiency, to support CPF's aim to generate Bt7 billion in annual sales within the next five years," he said.

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TUF
High shrimp, tuna prices, strong baht sap Q1 results
The Nation May 11, 2013 1:00 am
Return to normal trends expected in second half; dollar sales unaffected


Thai Union Frozen Products (TUF) said its first-quarter income in US dollars was about the same as in the same quarter of 2012, while sales in baht declined 3 per cent and net profit plunged by 54 per cent.

These results were influenced by historically high raw-material prices of tuna and shrimp and the strong baht, the company said. However, it believes the trends in the second half of the year will return to normal and the overall picture of the food industry, including TUF, will show some improvement.

Company president Thiraphong Chansiri said TUF's US dollar sales amounted to $824 million (Bt24.5 billion), compared with the same period of last year when the revenue was $822 million.

The company posted income from baht-denominated sales of Bt24.4 billion, a decrease of 3 per cent from Bt25.3 billion in the first quarter of 2012, because of the 3.5-per-cent quarterly rise of the baht compared with the same period last year.

First-quarter net profit was Bt674 million, down 54 per cent from Bt1.46 billion in the same quarter of 2012.

In the first half of last year, the sales breakdown for the six main strategic product groups were tuna at 50 per cent, shrimp and related business 21 per cent, sardines and mackerel 6 per cent, salmon 5 per cent, pet food 8 per cent, and value-added and other products at 10 per cent.

Revenue contributions by market were the United States at 39 per cent, the European Union 29 per cent, domestic-market accounts 8 per cent, Japan 10 per cent, and other countries 14 per cent.

Thiraphong said that although the company continued to face challenges in the first three months of this year that it also grappled with in late 2012,

quarter-on-quarter net-profit growth was 10 per cent from Bt612 million in the final three months of last year.

The price of raw shrimp remains high and supplies inadequate because of early mortality syndrome, a disease that has seriously affected Thai shrimp production.

Meanwhile, the price of raw tuna remains volatile. It had declined sharply at the end of last year to $1,900 a tonne from $2,350 seen in September.

Then the price rose again early this year, reaching a new high of $2,325 in March.

TUF says such price volatility affects business in that it lowers customer confidence.

This causes a slowdown in purchase orders as the customers cannot accept rapidly changing prices, impacting gross profit margin in the first quarter.

Nonetheless, the firm reported that its overseas brands continued to perform well, especially Chicken of the Sea in the US, which regained profitability after low operating results last year due to intense price competition.

The pet-food business in the US also demonstrated good results compared with those in the last quarter of 2012.

MW Brands in Europe also maintained its profitability.

The overall picture for TUF is that its overseas business has changed towards a good direction, and the company believes that the volatility of raw-material prices will decrease in the second half of the year.

In relation to the strong baht, the company says it has worked carefully on risk management. Short-term measures have been implemented by using financial instruments such as hedging and fixed forward contracts, which have been able to cover some losses.

However, long-term measures require strict controls on costs and operational improvements to achieve higher efficiency.

The company believes it has to keep a close eye on the foreign-exchange situation by assessing its effect on business at all times.

It also believes that the government has monitored this issue closely and if the baht continues to surge, the government will launch measures to handle the matter.

TUF says its performance in the past reflected its strong capacity for operating business as a complete seafood producer, from upstream to downstream.

The production and marketing bases covering all regions enable the company to diversify business risks efficiently.

Consequently, TUF strongly believes that it can generate good growth consistently.

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Thai Airways considers plugging salary gaps among all employees
Nongnapas Maipanich
The Nation May 11, 2013 1:00 am
Thai Airways International plans to adjust the salary structure of all staff in an effort to narrow the earning gaps in the corporation and create a fair working environment.
The company has determined that at present, there is a salary gap between longer-tenured pilots and more newly hired ones. The new ones earn higher salaries because they have to pay their own income tax, while the others are exempt in accordance to the company's previous policy.

After a board meeting yesterday, THAI president Sorajak Kasemsuvan said consideration on salary adjustments would be continued next month. The feeling is that dealing with income gaps, especially among the pilots, could be a long-term solution to losing valued staff.

At the board meeting, he looked for ways to increase THAI's sales in its cargo business.

Thai Airways International showed the consolidated operating profit of Bt4.44 billion in the first quarter of this year, up 3.9 per cent or Bt180 million from the same period last year.

The company attributed the slight decline to the weaker revenue earned from cargo services but the expenses side rose due to increased traffic production, payment of staff performance incentive and accrued annual welfare.

Profit before foreign currency exchange and income tax was Bt1.9 billion, a decrease of Bt3 billion or 61.3 per cent from last year.

Thanks to the appreciation of the Thai baht against major currencies, THAI showed the forex gain of Bt6 billion in the quarter. This boosted its quarterly net profit to Bt8.295 billion, up by Bt3.05 billion or 58.3 per cent on year.





THAI plans to play an aggressive role in the carrier's business, especially looking for new clients to expand its business base. It is an urgent need that will be discussed next Thursday, at a meeting chaired by Kanit Saengsuwan. In the past, THAI's cargo business has suffered from continual losses.

To mark its 53rd anniversary and the 20th year of the Royal Orchid Plus frequent-flyer programme, the company has offered promotional tickets on 78 international and domestic routes, in both economy and business classes.

In addition, a "Rak Khun Tao Fah" event will be held from tomorrow through Wednesday to sell discounted tickets. The company expects sales to exceed Bt200 million during the four days.

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AOT
AOT to hire design consultant for Phase 2 expansion of Suvarnabhumi
Nongnapas Maiphanit
The Nation May 11, 2013 1:00 am
Airports of Thailand (AOT) will hire an airport-design consultant for Phase 2 of its expansion of Suvarnabhumi Airport. The expansion is expected to be complete by 2016.


The company also plans to bring in smart cards and barcode technology to speed up its immigration services and alleviate congestion at Bangkok's main airport.

Sitta Tivari, chairman of AOT's board of directors, said the agency estimated that more than 50 million passengers would pass through Suvarnabhumi this year, exceeding its official capacity of 45 million. Some congestion is inevitable during peak hours. To help alleviate the problem, AOT plans to offer discounts for flights during non-peak hours, he said.

Smart cards and barcode technology will improve immigration services and reduce waiting times for passengers, he said.

For example, Thai nationals will be offered the option of using smart cards instead of passports, to clear immigration processing in as little as 10 seconds.

However, such measures are not long-term solutions to relieve airport congestion, say critics. The design for the Bt62.5-billion Phase 2 expansion could take another 10 months to complete.

AOT will select the construction contractor to lead the expansion in March next year.

Yesterday, it signed an agreement to hire MAA 103 Group, which will design the four-storey 216,000-square-metre terminal building of Phase 2, next to 28 aircraft parking spots connecting the south-end tunnel with passenger-transport systems. The total cost of the project is estimated at Bt722 million.

AOT has also hired PSS Consortium to design and oversee the Bt63.97-billion infrastructure works, including plumbing, electrical supply and a cold-water system for air-conditioning and wastewater treatment.

[schmithi]

post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
post 254 CPF, TUF, THAI, AOT
post 255 BANPU, CPALL
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Banpu eyes coal/power acquisitions
Achara Deboonme
The Nation
Laos May 14, 2013 1:00 am

The first cooling tower of Hongsa power plant in Laos is completed. Two more are under construction, slated for completion in 2015.
Firm seeks quick cash flow in region
Banpu, with more than Bt10 billion of cash in hand, is looking to expand its regional presence with a focus on existing power plants and coal mines.

"Investment targets must be able to generate cash flow immediately after the transaction," said Chanin Vongkusolkit, chief executive officer of the energy company, which now operates in six countries: Thailand, Laos, Indonesia, China, Australia and Mongolia.

Facilitating the expansion plan is the low debt-to-equity ratio of 0.83:1, against the internally set limit of 1.1:1, he said during a trip to Hongsa Power in Laos last week. The coal-fired power plant, owned 40 per cent by the company, is about 50 per cent completed.



"At some points, the D/E ratio may rise to 1.3:1. Yet I can assure you that all assets of Banpu are profitable.

"In 2015 when Hongsa power plant commences commercial operations, the power business will contribute 30 per cent of earnings. This is on assumption that no new power plant is acquired before then. Looking forward to the next five years, the ratio could rise above 30 per cent but not exceed 40 per cent, as we still see a lot of opportunities from the mining business," he said. Posting Bt117 billion in revenue and Bt9.3 billion in net profit in 2012, coal sales in the year accounted for 95 per cent of total revenue while power business - through the 50-per-cent-owned BLCP power plant in Rayong and three plants in China - made up the balance.

In the coal business, last year the average selling price declined by 3 per cent from 2011 to US$85.72 per tonne. The average selling price dropped further in the first quarter of this year, which along with lower sales volume severely pressured the company's quarterly net profit. Attributing this to a slight oversupply amid increasing demand, Chanin foresees an improvement soon. "Coal demand will continue to grow, especially from China, India, South Korea and Japan. The growing coal demand will reduce the level of excess supply by the middle of this year. This will help improve the prices in the market," he said.

Seeing no good news in the next few months and falling coal prices, Asia Plus Securities slashed earning forecasts for Banpu in 2013 and 2014. The only positive factor it saw in the first quarter was profits from the BLCP power plant, which resumed full utilisation after a two-month annual maintenance shutdown in the first quarter. Chanin said Banpu also placed bigger hopes on the power business, chiefly on the 1,800-megawatt Hongsa power plant, which will increase Banpu's installed capacity by 715MW. Under the 25-year power-purchase agreements, Hongsa Power will sell 1,500MW to the Electricity Generating Authority of Thailand for Bt2.275 per kilowatt-hour and 100MW to Electricite du Laos for 6 US cents (Bt1.78) per kilowatt-hour. It is estimated that at Bt2.275, the Hongsa project will generate revenue of about Bt58 billion.

While Ratch, another shareholder, takes charge of the engineering side, Banpu has devoted all of its knowledge and experience in planning and operations accumulated in the past years to the project. The price of lignite - sourced in nearby pits - to fire the power plant is fixed throughout the 25 years. The $3.71-billion (Bt110 billion) project is funded 50:50 by baht- and dollar-denominated loans. Power is also priced in baht and dollars at the 50:50 ratio, to avoid foreign-exchange risks.

Chanin acknowledged that there were many risks involved with such a large power plant. Located in Hongsa subdistrict of Xayaburi province, the plant needs a better road for the transport of equipment from Nan province in Thailand. The resettlement scheme for more than 400 households was just completed last year, but programmes to create jobs and control pollutants are under way.

One big risk involves the Civil Court's order for Banpu to pay Siva Ngarntavee and his group more than Bt31 billion. The case is now in the appeal process. Chanin said Banpu was looking forward to expanding its coal-fired power business in Thailand if public acceptance improves, to take advantage of ample supplies of coal from its mines.

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CP All sets Bt3 bn for network expansion
KwanchaiRungfapaisarn
The Nation
Lamphun May 14, 2013 1:00 am

CP All
4 new centres to facilitate growth of 7-Eleven stores


CP All, the operator of 7-Eleven convenience stores in Thailand, has announced an investment of about Bt3 billion to build at least four new distribution centres around the Kingdom.

The opening of distribution centres in regions with high potential will facilitate the company's expansion plan for 7-Eleven stores. It targets a network of 10,000 outlets within the next five years.

It will also serve the huge inflow of goods from neighbouring markets into Thailand from 2015 when the Asean Economic Community comes into effect, said deputy chief executive officer Pittaya Jearavisitkul.

Founded 25 years ago, CP All operated 7,111 convenience stores as of the end of last month. Some 3,929 of the 7-Elevens are franchise operations, with the remainder owned by the company itself.

They carry more than 15,000 items from about 3,000 suppliers. The company, which employs about 6,000 people, serves around 9 million customers a day.

Pittaya said CP All had opened its first distribution centre in Bang Bua Thong district, Nonthaburi, in 1998. A second centre was opened in Khon Kaen province in the early 2000s.

The company currently has five major distribution centres in operation. The Bang Bua Thong facility occupies 25,000 square metres and serves 2,450 stores in 16 province s in the central part of the country, while the Suvarnabhumi centre occupies 22,000sqm and serves 1,798 outlets in four major provinces in the centre of the country, as well as some parts of Chon Buri province.

The Surat Thani centre occupies 12,000sqm and serves 845 stores in 14 southern provinces, while that in Khon Kaen covers 12,000sqm and serves 855 stores in 20 provinces in the Northeast and Phetchabun, and the Chon Buri facility occupies 10,000sqm and serves 520 outlets in four major provinces in the Eastern region of the country.

Meanwhile, CP All has just opened its sixth distribution centre, occupying 17,000sqm of retail space in Lamphun province.

Costing about Bt550 million, the centre will distribute 6,311 items to 643 stores in 14 provinces in the Northern region.

"We're constructing a new distribution centre in Mahachai, in Samut Sakhon province, which is scheduled to open next year. Costing about Bt1 billion, the centre will occupy more than 20,000 square metres of space and serve 2,000 stores in the upper part of the Southern region, the Western part of the Kingdom and Bangkok itself," said the CEO.

The company will also open another three distribution centres: in the lower part of the Northeast, the lower part of the South and the Central region.

They will occupy 15,000-17,000sqm and cost between Bt500 million and Bt600 million each, he added.

Enhanced efficiency

Chusin Jirawongsy, vice president of CP All, said the expansion of the distribution-centre network would allow the company to expand its 7-Eleven coverage more effectively, especially in rural areas.

The company will be better able to serve its retail branches and meet the distribution lead-time objective of getting products to any 7-Eleven store around the country within 24 hours of receiving an order, he said.

There are two types of distribution centre being set up by the company: those for dry-grocery items, and those for chilled distribution.

Pittaya said the overall convenience-store market in Thailand currently comprised about 15,000 outlets, operated by a host of players.

However, this is still low when compared with Japan, which has between 50,000 and 60,000 convenience stores.

He added that while CP All had 7-Eleven stores in all 76 provinces, the coverage was only between 60 and 70 per cent at the district level.

[schmithi]

post 230 DTAC
post 231 TCAP
post 232 IVL
post 233 AOT
post 234 DTAC
post 235 PTTEP, THAI
post 236 PTT
post 237 AOT
post 238 TCAP, KK
post 239 TRUE, Banken Q3
post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
post 254 CPF, TUF, THAI, AOT
post 255 BANPU, CPALL
post 256 PTTGC, IVL
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PTTGC seeks co-investment with Sinochem in China
WATCHARAPONG THONGRUNG,
WATCHARA PUSSAYANAWIN
THE NATION May 16, 2013 1:00 am
PTT Global Chemical is keen to join with China's Sinochem to set up a petrochemical plant in that country, said Anon Sirisaengtaksin, chief executive officer of PTTGC.
He made the remark on Tuesday before going to China to discuss a possible collaboration between PTTGC and Sinochem International. The two companies recently signed a memorandum of understanding on a joint feasibility study on co-investment in petrochemical business focusing on polyurethane and bio-based chemicals to serve the growing auto, construction, and electronics industries.

PTTGC has already piloted exporting its products to test China's market. If they are enthusiastically welcomed, this might lead to joint investment between PTTGC and Sinochem to set up a petrochemical plant there.

Last month, PTTGC signed a tentative deal with oil and gas company Pertamina to develop a petrochemical complex in Indonesia worth up to Bt150 billion. The deal will see them determining the framework of their collaboration to study details of investment and a business plan, and to set up a joint venture to establish the petrochemical facility. The complex will comprise a refinery, an olefin plant with capacity of 1 million tonnes per year, and a downstream polymer plant, all to serve the fast-rising demand of Indonesia's market.

The cost of establishing the complex will be US$4 billion to $5 billion (Bt119 billion to Bt149 billion). Indonesia's Pertamina will own 51 per cent of the project, while the Thai partner will hold the remainder.

Anon said PTTGC was in talks with companies with the potential to become a third strategic partner in this Indonesian project. PTTGC will allocate a minor part of its 49-per-cent share in the project to this third strategic partner. It hopes to wrap up the deal soon with this third partner before signing the tripartite joint-venture agreement in December.

He said Pertamina welcomed the plan to invite a third partner into the project. The project demands massive investment and the development should be completed by late 2018.

The joint venture serves part of PTTGC's strategy of boosting its strength by expanding its regional market.

It is possible that in the future PTT Group and Pertamina will expand their collaboration in other business areas.

Meanwhile, Pailin Chuchotta-worn, CEO and president of PTT, said the group expected to finish studying a plan to set up an oil refinery and petrochemical complex in the coastal province of Binh Dinh, Vietnam, in one year. He added that if the study found it was a worthwhile investment, it would not be difficult to draw foreign partners to invest jointly in the project. The refinery is expected to have capacity of 600,000 barrels per day.

As part of its continued expansion of petrol stations in Asean, PTT is expected to set up its first two stations in Yangon next year, each expected to sell 500,000 litres per month.

The demand of oil in Myanmar is 70,000 barrels per day. PTT has also joined with the Myanmar government to upgrade its existing refinery, which currently has capacity of 20,000-30,000bpd

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Indorama in deal for fibre plant in Rayong
THE NATION May 16, 2013 1:00 am
Indorama Ventures will open a plant in Rayong for fibre and yarn made from a special polyester in the second quarter of 2015.
Aloke Lohia, CEO of the global polyester manufacturer, said the company's board yesterday approved a 50:50 joint venture with a world-class manufacturer of non-woven fibre to set up the factory for bi-component fibre with 14,500 tonnes in annual capacity. It will be located at IVL's manufacturing complex.

The board also approved the 10,800-tonne capacity expansion of its bi-component fibre factory owned by its subsidiary Fiber Visions Manufacturing CO in Covington, Georgia in the US.

The project will take annual capacity to 34,000 tonnes totally when it is completed in the fourth quarter of next year by reducing the bottleneck in the production process. It will speed up return on investment with the economic improvement of the factory.

Bi-component fibre has been used for non-woven hygiene products such as wet cleaning wipes and diapers to serve the demand for such products, which has increased dramatically in North America and Asia.

IVL's sales in the first quarter of this year rose to US$1.9 billion (Bt56.6 billion) from $1.6 billion in the fourth quarter of last year after its polyester manufacturing capacity increased by about 1.42 million tonnes.

"This year, we have improved confidence in our operations throughout the world. We have received good feedback from the market and IVL is now in an advantageous position and is ready to benefit from the economic improvement in China, which has influence and an effect on the world," Lohia said.

"Our greater profitability came from the growth of high value-added products, which will provide continuous support for the revenue growth of the company today and in the future. Our executives will proceed with the cost-cutting scheme for sales, aimed at increasing profit per share. We will also offer products with high safety and credibility to our customers," he said.

IVL's cash profit climbed to $83 million last quarter from $76 million in the previous quarter due to the recovery of polyethylene terephthalate (PET) from its lowest level. However, the profitability of monoethylene glycol (MEG) declined, but is expected to recover to normal levels this quarter, due to its strong foundation.

[schmithi]

post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
post 254 CPF, TUF, THAI, AOT
post 255 BANPU, CPALL
post 256 PTTGC, IVL
post 257 TRUE, DTAC
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TRUE CORP
4G service 'part of push to be market leader'
Usanee Mongkolporn
The Nation May 20, 2013 1:00 am
True Corp's launch of fourth-generation (4G) broad-band cellular service is not a marketing gimmick but a seri-ous bid to become the clear |leader in the mobile broadband services market, said True's chief executive officer, Suphachai Chearavanont.
He estimated there are around one million potential 4G customers in Thailand.

However, at present only a handful of the mobile devices available in Thailand are 4G-compatible. These include the Nokia Lumia 820 and 920 models, and the Sony Experia V. True is in talks with major smart-phone makers to get them to make more 4G-compatible mobile phones and tablets available here.

True's wholly owned subsidiary Real Future debuted its 4G and |3G services on the 2.1-gigahertz spectrum on May 8. Real Future holds a 2.1GHz licence from the

National Broadcasting and Telecommunications Commission (NBTC). It plans to roll out 2,000 sites on its 4G network in 15 major cities and 5,000 sites on the 3G-2.1GHz network nationwide this year. Its 4G-network equipment is solely provided by Chinese telecom-equipment supplier Huawei Technologies, while that used for its 3G-2.1GHz network was provided by Huawei and ZTE.

Real Future has allocated 5 megahertz of bandwidth out of 15MHz on the 2.1GHz spectrum to 4G service, with the remaining bandwidth allocated to the 2.1GHz service. Its other subsidiary, Real Move, provides the 3G-850MHz service under a partnership with CAT Telecom.

DTAC TO CASH IN

But it remains to be seen if True can achieve the goal of becoming the clear leader in the cellular broadband era. Advanced Wireless Network (AWN), a subsidiary of Thailand's largest cellular operator Advanced Info Service (AIS), officially debuted its 3G-2.1GHz service on May 7, while DTAC TriNet of Total Access Communication (DTAC) is expected to officially launch a similar 3G-2.1GHz service next month. AWN and DTAC TriNet are the other two of the NBTC's 2.1GHz licence holders.

DTAC will cash in on the huge bandwidth of its combined 1,800MHz, 850MHz and 2.1GHz spectrum bands to better serve data-hungry customers.

When asked which service True would focus on more - 3G-2.1GHz or 3G-850MHz - Suphachai said it would depend on the networks' coverage in a particular area. For an example, in an area with an extensive 3G-850MHz network, the company will focus its sales on that service.

True's 3G-850MHz service base stations are expected to total 13,500 nationwide this year, up from 13,000 sites at present.

Suphachai said the cost of offering 3G-850MHz service under the partnership with CAT, and that of providing the 2.1GHz service under the NBTC's licence are not much different.

Recently, True's mobile service group, excluding TrueMove, announced a target of 10 million customers this year, of which 4 million would be new customers and another 6 million will be those migrated from TrueMove, whose concession will end on September 15.

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DTAC plans mobile financial and insurance services
Usanee Mongkolporn
Sirivish Toomgum
The Nation May 20, 2013 1:00 am
Total Access Communication (DTAC) plans to launch mobile financial and insurance services this year to serve its more than 26.6 million customers.
A company source said DTAC had conducted a feasibility study on providing these two services, which are expected to require an investment of Bt1 billion to develop. The financial service will range from money deposits and transfers to lending.

The source declined to provide more details, but said the move was in line with the strategy of DTAC's strategic partner Telenor Asia that its business operations in Asia should develop value-added services for cellular business.

DTAC already has an e-money licence from the Bank of Thailand, for its subsidiary PaysBuy to provide online payment service, mainly for e-commerce.

The source said that for the insurance service, DTAC was studying whether it would have to apply for any licences or should join with partners in the insurance business.

When asked to confirm whether DTAC would launch these new services, chief executive officer Jon Eddy Abdullah said it was looking at opportunities to provide insurance services. However, it wants to make sure the products, cost, and product distribution would all work together well and the service would be easy for customers to use. If a licence to conduct this business is required, DTAC would seek one, he added.

However, he declined to specify when DTAC would launch the insurance service.

In January, Telenor Group entered a joint venture with MicroEnsure, a leading provider of insurance products to more than 4 million people in Africa and Asia, to form MicroEnsure Asia, according to its press release.

MicroEnsure Asia has initially focused on introducing a range of insurance products to Telenor's business units in Asia as well as seeking to work with other mobile-network operators and distribution partners in Asia and Eastern Europe.

[bmann025]

Thailand Research von Daiwa

http://asiaresearch.daiwacm.com/eg/cgi-bin/files/20130410th_…

[Lwymi]

Shift from TIP countries - Thailand, Indonesia and Philippines - to other markets with cheaper stocks ... such as Hong Kong, South Korea and China.

www.bangkokpost.com/news/local/354519/set-plunges-on-oversea…

[Lwymi]

ASEAN April 2013. DB Research. Deutsche Bank.
ASEAN Economic Community Implications for Thailand & CLMV

www.dbresearch.com/PROD/DBR_INTERNET_DE-PROD/PROD00000000003…

[schmithi]

post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
post 254 CPF, TUF, THAI, AOT
post 255 BANPU, CPALL
post 256 PTTGC, IVL
post 257 TRUE, DTAC
post 261 THAI
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THAI plans big push in 2nd half
BAMRUNG AMNATCHAROENRIT
THE NATION July 4, 2013 1:00 am
Thai Airways International Plc will next week start executing an aggressive second-half business plan to achieve its full-year targets for sales growth of 11 per cent and net profit of Bt6 billion amid increasingly fierce competition, particularly from the entry of low-cost carriers here.
The national carrier has projected 2013 sales at Bt224 billion, but its performance in the second quarter was worse than expected, compared to the same quarter last year. It was hit by the strengthening of the baht and the weakening of the Japanese yen and euro. Especially the yen, which plunged 17-20 per cent, Chokchai Panyayong, executive vice president for commercial operations, said yesterday.

However, first-half results were still positive and the airline was confident it would achieve its business metrics by the end of this year, despite the projection for the overall industry to expand by only 3-3.5 per cent.

A special commercial executive committee, chaired by THAI president Sorajak Kasemsuvan, has been set up to help monitor the fast-changing industry and gather information to strengthen its strategy. It will also touch bases with THAI offices worldwide every week via Skype to make it even easier to make decisions on urgent matters.

Chokchai, who moved to this post on June 24 from the strategy and business development division, will spearhead the team to boost sales by 10-15 per cent this half year to ensure the airline meets its sales goals for the entire year.

THAI's board hopes he leverages his long years of experience to strengthen the airline's business at a time when the world's economy from Europe to Asia is in a state of flux. Especially foreign currency fluctuation poses a major risk in the rest of the year. The carrier will take delivery of 17 new aircraft and they must be put to best use.

It does business in 50 currencies, but mainly the baht (30 per cent), yen (20 per cent), euro (30 per cent) and US dollar (10 per cent).

The focus would be more on fast-growing regional markets offering higher margins, particularly China and Japan. The two countries are still growing and demand there for air travel will be on the rise. Russia is also on the radar screen.

The semi-annual plan calls for an increase in flight frequency and seat capacity as well as new routes to the two markets. Japan is expected to enjoy a travel boom after it recently waived visas for up to 15 days for Thai tourists. This will force THAI to compete head-on with low-cost carriers, especially long-haul AirAsia X, which plans to serve Japan from Bangkok.

Even though Europe is in dire financial straits and its economic prospects are blurry, the market is still important and the airline will continue focusing on it to maintain its passenger base.

Europe and Asia contribute 45 per cent of sales each, while 10 per cent comes from the domestic market. In the future, Asia is expected to increase to 50 per cent.

THAI has 91 aircraft in its fleet, with 58 more arriving in 2017

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post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
post 254 CPF, TUF, THAI, AOT
post 255 BANPU, CPALL
post 256 PTTGC, IVL
post 257 TRUE, DTAC
post 261 THAI
post 262 PTT
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PTT may put off Bt360-bn capex plan
Warin Trino
The Nation July 5, 2013 1:00 am
External factors call for adjustments
PTT might postpone some projects as part of the review next month of its five-year capital-expenditure plan in response to signs of an economic slowdown in China, less liquidity in global markets, and the United States tapering off its economic stimulus measures in the near future.

Surong Bulakul, chief financial officer, said yesterday that based on PTT's first-half operating results, investment plans would be revised accordingly to match the changes in the operating environment both here and abroad.

China is a large market and a vital trading partner, so any slowdown in its economy should have some adverse impact that must be considered. The planned Bt360-billion capex plan will likely not be downsized, just some projects delayed if necessary.

PTT will focus on stability at a reasonable level of investment, or "fit and firm", so that it will be in a healthy position to participate in other upstream projects in North America with good prospects.

The liquidity crunch in the global market may make securing of overseas funding a bit harder, but PTT has already raised US$1.1 billion (Bt34 billion) via a debentures issue and still has more than $300 million available in a credit line with a Japanese bank, which should ensure sufficient liquidity.

Trinity Securities expect PTT's operations outlook last quarter to be relatively weaker than the first quarter, on projection of lower profit contribution from the group's units, especially PTT Global Chemical and Thai Oil. The second-quarter net profit of PTTGC and Thai Oil will fall by about 50 per cent quarter on quarter because of a loss related to crude-oil inventory and a 30-day refinery shutdown for repairs and maintenance and the weakening of income from diesel and petrol refining.

PTT plans to reduce the production capacity of its natural-gas separation plants No 1 and No 6, which will reduce output. In any case, PTT expects to earn Bt115 billion this year.

A study shows the impact of the adjustment to the price of liquefied petroleum gas, such as the adjustment for households, on PTT can be segregated into three scenarios - postpone the LPG price adjustment until next year, hike the LPG price on par with the price for the transport industry, or raise the LPG price on par with the prevailing market price.

Any of these three scenarios would raise earnings per share to between Bt0-Bt0.74 and Bt2.54-Bt4.54.

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post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
post 254 CPF, TUF, THAI, AOT
post 255 BANPU, CPALL
post 256 PTTGC, IVL
post 257 TRUE, DTAC
post 261 THAI
post 262 PTT
post 263 TRUE
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True shares rise on plan for infrastructure fund
The Nation July 24, 2013 1:00 am
The price of True Corp shares yesterday rose 6.86 per cent to close at Bt9.35 after its announcement of an infrastructure fund to raise not less than Bt70 billion to repay debt and for future business expansion.
True intends to set up the fund this year. It will be the second infrastructure fund set up this year after the BTS Rail Mass Transit Growth Infrastructure Fund, which raised Bt62.5 billion in April.

True reported to the Stock Exchange of Thailand yesterday that its board last Friday approved the company and/or its subsidiaries entering transactions for an infrastructure fund, and that it was preparing to apply to the Office of the Securities and Exchange Commission for the fund's establishment.

The company plans to sell telecom towers, its core fibre-optic cable network, broadband networks, and the rights to revenue from equipment rental to the fund. It will also acquire a 33-per-cent stake in the fund.

Assets to be sold to the fund include infrastructure components that can be shared with other operators. The company and/or its subsidiaries will lease back or lease/sub-lease assets for a term of no more than 15 years, having a transaction size not exceeding Bt55 billion. True intends to lease only those assets that it or its subsidiaries require for utilisation.

The major benefit to True Corp will be the improvement in gearing from the asset sales to the new fund, Chirasit Vuttigrai, an analyst at DBS Vickers Securities (Thailand) Co, told Bloomberg. There is still a question whether there will be incremental value from the rental of those telecom facilities to other competitors.

True has Bt6.5 billion in debt to service this year, Bt13 billion next year, and Bt16 billion in 2015, according to a telecom analyst.

According to its filing, the company will use proceeds from the sale of assets, revenue and/or lease of assets in the partial payment of debt including loans, which will significantly improve capital structure and enhance investment capacity. In addition, it may use part of the proceeds for investment in future projects.

The board also approved the sale of ordinary shares in eight non-core business subsidiaries to Thana Telecom Corp, which is wholly owned by True parent Charoen Pokphand, for Bt5.4 billion. This is to allow the True group to focus on core business, and the proceeds from the sales will be for repaying some debt.

The eight subsidiaries are True Leasing, Wire & Wireless, True Money, True Internet Data Centre, True Lifestyle Retail, True Properties, True Digital Plus, and True Digital Content and Media Company.

The company will propose the infrastructure fund and the sale of shares in non-core subsidiaries to a shareholder's meeting on September 12.

[schmithi]

post 240 THAI
post 241 CPF, KTB
post 242 Banken 2012
post 243 TRUE
post 244 THCOM
post 245 KBANK
post 246 PTTGC
post 247 TTW
post 248 CPF
post 249 BANPU
post 250 SCC
post 251 PTTCG
post 252 TCAP
post 253 DTAC, KBANK, Banking sector
post 254 CPF, TUF, THAI, AOT
post 255 BANPU, CPALL
post 256 PTTGC, IVL
post 257 TRUE, DTAC
post 261 THAI
post 262 PTT
post 263 TRUE
post 264 PTTEP
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Energy

PTTEP looks further afield for long-term, sustainable growth

Achara Deboonme
The Nation October 7, 2013 1:00 am

Tevin Vongvanich examines the Bongkot oil platform in the Gulf of Thailand. As domestic reserves are being depleted, PTTEP is in a quest to boost its production capacity.

Tevin Vongvanich examines the Bongkot oil platform in the Gulf of Thailand. As domestic reserves are being depleted, PTTEP is in a quest to boost its production capacity.
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Already pumping oil at the rate of 340,000 barrels per day, PTT Exploration and Production (PTTEP) has laid out a plan to grow its business and concurrently achieve sustainability amid fast-changing variables.

Under the model to grow the business sustainably, efforts are focused on two legs - business expansion and preparation for new challenges.

"Sustainability means that on the business side, we have the strength to grow and have a long business life," president and chief executive officer Tevin Vongvanich said in an exclusive interview. "On the organisation side, we have to be efficient wherever we operate, show corporate governance and demonstrate corporate responsibility."

It was this model that recently persuaded the company to lower its capacity target from 900,000 barrels per day for 2020 to just 600,000bpd in order to ensure that its financial and non-financial capabilities are not stretched too far.

Tevin said size would be a key to ensure business sustainability. This requires PTTEP to boost the ratio of reserves to production. While the proven reserves ratio will be raised to 10 years from eight years by 2016, the ratio of proven, probable and contingent reserves will be 40 years, up from 35 at present.

Another focus is on return on capital employed, to ensure that the corporate rating is equivalent to the country's rating. PTTEP projects about US$25 billion (Bt780 billion) in investment in the next five years. Annually, 40 per cent of its earnings is reserved for new investment, while 35-40 per cent is for dividends.

Supporting the quest for growth and sustainability requires a strong organisation, with successful policies on human-resource development, risk management and technology innovation. Corporate governance and corporate social responsibility will back this up, ensuring that all stakeholders including the environment are fairly protected.

Size will be expanded chiefly through overseas projects. By 2020, PTTEP aims to produce 100,000 barrels of oil equivalent a day from future acquisitions. The rest will be produced by the 45 existing projects. Now domestic supplies support 80 per cent of production capacity, but this will rise with more production from existing overseas projects and supplies from new overseas projects.

Next year, the Montara production in Australia will double to 20,000bpd. Before 2021, gas from Cash Maple gas fields in the Timor Sea off northern Western Australia will be pumped up and exported (by the parent company, PTT) as liquefied natural gas (LNG).

In the fourth quarter of 2014, the Groupement Bir Seba project in Algeria will start pumping 20,000bpd. Exploration in Algeria's Hassi Bir Rekaiz project shows successful results and by 2020, it should produce about 20,000bpd. In Mozambique - expected to be a new source of global LNG supply after Australia and Qatar - exploration yielded successful results and gas could potentially be exported to Thailand, Japan and India. It is estimated that from 2019, 10 million tonnes of gas will be extracted per annum.

"Late next year, the development cost will be clearer, along with supply contracts. This will tell us how much we need to borrow," Tevin said.

Meanwhile, the oil-sands project in Canada will double capacity to 80,000bpd by 2018.

The Zawtika gas field in Myanmar is also expected to produce 300 million cubic feet per day next year, and 80 per cent will be exported to Thailand, along with more than 1,000mcfpd from the Yadana and Yetagun projects. More exploration will be undertaken at the M3 project in Myanmar, potentially for the initial production of 150mcfpd in 2018-2019.

"All gas from the M3 project will be used domestically. Myanmar has helped us all these years. It's our turn to help it," Tevin said.

He is confident that the company has the financial capacity to finance the expansion. After an equity injection of $3 billion late last year, the company's debt-to-equity ratio is now at 0.3 times. Aside from $2 billion in cash, PTTEP can borrow more until the D/E ratio hits 0.5 times.

"In the industry, the ratio is low. Yet we won't borrow excessively, or that would negatively affect our rating," he said.

He acknowledged that the company was operating in an industry that is full of risks. Shale gas is now a game changer, which will keep oil prices near $100 per barrel for some time, he said. With more gas output in the United States, he foresees oil prices rising naturally, in line with inflation. This will require exploration and production companies to use unconventional sources, such as deep-water fields, despite higher risks. International conflicts and cooperation as well as civil sentiment pose political risks.

Owing to this, PTTEP is determined to seek potential energy sources in many countries. Shale-gas development is also in the cards.

The CEO said it was time for PTTEP to venture overseas in aggressively, as throughout the past 30 years its main task has been to substitute energy imports. But at present, 80 per cent of the oil consumed in the country remains imported, along with 20 per cent of gas, 5 per cent of electricity and 60 per cent of coal. Overseas investment will allow the company to hedge imports.

"Our overseas output could be sold to any country. But in the end, the value will match the value of Thailand's energy imports," he said.

"Bongkot is our last major domestic production project. We're now at the plateau [of domestic exploration and production] and need to grow our overseas business."