Briefs

Built Land to launch Bt2 bn condo project

Built Land Co, a subsidiary of Pre-Built Plc, plans to launch a Bt2-billion condominium project called The Tempo in the first half of the year. The project is expected to boost sales growth towards the targeted 10 per cent this year, Built Land CEO Chairat Thampeera said.

Pre-Built recorded revenue of Bt4.08 billion and net profit of Bt188.71 million last year, up 30.74 per cent and 76.80 per cent respectively from 2011.

Sriracha eyes 7 deals

Sriracha Construction targets Bt2.4 billion in revenue and Bt1.2 billion in net profit this year as it negotiates for seven construction projects in Thailand and overseas, including a gold-smelting plant in Africa and a copper smelter in Panama. The company posted Bt2.1 billion in revenue last year with Bt1.02 billion in net profit, a slight decrease from its net of Bt1.1 billion in 2011.

Samart target

Telecom holding firm Samart Corp has targeted revenue of Bt30 billion this year, said its president Watchai Vilailuck.

Its ICT solution provider business led by Samart Telcoms plans to bid for state and private projects worth a total of Bt40 billion this year, deploying information and communications technology to improve service. Its mobile-phone-sales business led by Samart I-Mobile aims to sell 3.3 million handsets, of which 2.3 million will be smart phones.

Samart's consolidated total revenue last year was Bt17.100 billion and net profit Bt1.071 billion, compared with revenue of Bt19.964 billion and net profit of Bt836 million in 2011.

Samart I-Mobile's consolidated total revenue was Bt7.042 billion and net profit Bt166 million, against revenue of Bt7.002 billion and net profit of Bt84 million in 2011.

Samart Telcoms' consolidated total revenue was Bt7.744 billion and net profit Bt811 million |compared with Bt10.226 billion and Bt791 million the previous year.

DTAC's 'Accelerate' campaign for talented developers

Total Access Communication has kicked off "The DTAC Accelerate" campaign with the launch of a mobile-application competition under the theme "Wizard of App". The programme aims to give top Thai talents a short cut to learning and working experience with world-class technology innovators, and an opportunity to present their projects to venture capitalists at Silicon Valley in California, along with other rewards worth Bt50 million in total.

Krating-Ruangroj Poonpol, DTAC's senior vice president for the products division, said the programme was aimed at motivating Thai developers to create innovative applications, as well as encouraging Thais to take an active part in the technology revolution.

Apart from being the key person behind the Accelerate programme, Ruangroj also takes the lead in coordination with firms in Silicon Valley to help endorse the scheme. He has managed to obtain support from world-class partners like Blackbox Connect, one of the world's top start-up accelerators.

The winning developer team in the Accelerate competition will join a Blackbox programme in Silicon Valley as one of 12 teams from around the world, and will have the chance to present their project to venture capitalists, a rare opportunity in today's business world where there are plenty of technology development firms in the market and the competition is fierce. Runner-up teams will join the regional Accelerate programme.

The total value of prizes in the overall scheme is more than Bt50 million. The Accelerate mobile-application competition is open to developer teams of up to five people, who must submit proposals by April 30.

A shortlist of 30 teams will be announced the following month. The shortlisted teams will then participate in a coaching workshop by world-class technology-developing teams during May and June. The selected 10 finalists will enter the actual production process, and the winning team will be chosen in September.

Overseas expansion boosts Siamgas revenue prospects

LPG distributor Siamgas and Petrochemicals has set a revenue target of Bt60 billion for this year, based on the forecast growth of overseas business after its recent further expansion of retail business in East Asia.

The company plans to use its terminals in China to import liquefied petroleum gas and export the gas to Hong Kong, Macau, Malaysia, Vietnam, the Philippines and Cambodia to enhance its strength in the long term, said managing director Supachai Weeraborwornpong. The company posted revenue of Bt47.751 billion last year, up 24 per cent from the 2011 level.

Ch Karnchang ratings upgrade as backlog improves

TRIS Rating has upgraded the company and senior debenture ratings of Ch Karnchang to "BBB+" from "BBB", with a "stable" outlook. The ratings upgrade reflects the construction company's improving backlog quality and operating performance, and an expectation that leverage will improve meaningfully over the next 18 months, due to the sales of investments and positive progress on the Xayaburi dam project in Laos.

The stable outlook reflects an expectation that Ch Karnchang will be able to maintain its operating margins at about the current level in the medium term.

The company's leverage is expected to improve thanks to a larger equity base from capital gains on the sale of Thai Tap Water's shares, as well as debt repayments with proceeds from the divestments, and higher collections of receivables from the Xayaburi project.

The company's backlog at the end of September 2012 was Bt124 billion, compared with Bt28 billion during 2010-2011.

The larger backlog was mainly driven by Xayaburi project, worth Bt76 billion, and the |Si-Rat Outer Ring Road expressway project, |worth Bt23 billion. The backlog diversity is acceptable, said TRIS, adding that the Xayaburi project accounted for 53 per cent of the total. |- The Nation