Tuesday November 13, 2018 07:55

Stcoks Press Release : 26 Jul 2018

Bangkok Land announces dividend of 0.09 baht per share in the 46th general shareholder meeting, up 12.5% from previous year Stcoks—26 Jul 18

Bangkok Land Public Company Limited (BLAND), led by Mr. Anant Kanjanapas, Chairman and Chief Executive Officer, holds its annual general shareholder meeting for the year 2018 to announce achievement of financial targets and dividend payment of 0.09 baht

Fitch Affirms Siam Cement at #A+(tha)#; Rates New Debentures #A+(tha)# Stcoks—26 Jul 18

Bangkok--26 Jul--Fitch Ratings

Fitch Ratings (Thailand) Limited has affirmed the National Long-Term Rating and the senior unsecured rating of The Siam Cement Public Company Limited (SCC) at 'A+(tha)'. The Outlook on the National Long-Term Rating is Stable.

At the same time, Fitch has assigned the company's new senior unsecured debentures of up to THB10 billion due 2022 a National Long-Term Rating of 'A+(tha)'. Proceeds from the issue will be used to refinance existing debt. The notes are rated at the same level as SCC's National Long-Term Rating as they constitute the direct, unsecured, unconditional and unsubordinated obligations of the company. A full list of rating actions is at the end of this commentary.

KEY RATING DRIVERS

Leverage to Rise; Within Expectations: Fitch expects SCC's FFO adjusted net leverage to rise to 2.0x-3.0x over the next three years from a low level of 1.9x at end-1Q18. The increase will be driven by heavy capex, but the forecast leverage remains below the 3.0x level at which Fitch would consider negative rating action. The company revised some uncommitted investment plans so that total capex will remain at THB250 billion-260 billion over the next five years, instead of increasing after acquiring the remaining 29% stake in the Long Son Petrochemicals (LSP) project from Vietnam Oil and Gas Group

KTC extends care to members in providing 15% discount for insurances from Frank Stcoks—26 Jul 18

"KTC" or Krungthai Card Public Company Limited, jointly with Frank Insurance Broker (Thailand) Company Limited, extend care to KTC credit card members in all their means and modes of transportation. KTC and Frank Insurance provide 15% discount of net

PTTEP posts strong performance in the first half with net profit of USD 536 million Approves Stcoks—26 Jul 18

- Significant achievements under the 'Refocus' strategy include the acquisition of additional stake in Bongkot field and the divestment of Montara field PTTEP revealed the first-half operating performance with net profit of USD 536 million as the

IndiGrid Delivers Another Strong Quarter Stcoks—26 Jul 18

IndiGrid, India's first power sector InvIT, announced its results for the quarter ended 30 June 2018. Consolidated revenue stood at INR 1,600 million. Consolidated EBITDA for the quarter was INR 1,458 million resulting in Net Distributable Cash flow

Photo Release: KBank wins Best Cash Management in Thailand 2018 award from The Asian Stcoks—26 Jul 18

Mr. Silawat Santivisat (seated left), Executive Vice President, and Ms. Kitiya Rerkpooritat (seated right), First Senior Vice President, together with other executives of the Cash Management Department, recently received the "Best Cash Management in

Indorama Ventures Completes Acquisition of Avgol Industries Stcoks—26 Jul 18

Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced the completion of its acquisition of Avgol Industries, a leading global manufacturer of nonwoven hygiene fabrics, listed on the Israel's Tel Aviv Stock Exchange