FOCUS Weekly eNewsletter

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	16 May 2016

Name	Volume	Name	Turnover	Name	Price	Chg
Week's Top Volume		Week Top Turnover		Week Top Gainer
Noble	379,186,000	SingTel	411,620,069	SPDR S&P500 US$	207.440	2.6600
Ezra	313,460,100	DBS	312,449,710	NA12100N 420401	105.803	2.0400
Cedar Strategic	269,760,400	Wilmar Intl	239,927,022	SPDR DJIA US$	178.500	1.2800
HSI20600MBeCW160530	260,205,500	OCBC Bank	232,205,923	DBXT DBLCI-OY US$	21.310	1.1500
HSI19200MBePW160530	220,244,600	UOB	216,852,544	NA16100H 460301	104.346	0.8700

Note: Weekly movement as at 13 May 2016

VARD: Makes Breakthroughs In New Markets.

Lower revenue of NOK 2 billion in 1Q2016 due to temporary slowdown in yard activities. Improved EBITDA margin of 2.8%, up from 2.1% in 1Q2015. Net profit of NOK 43 million, as compared to a loss of NOK 226 million in 1Q2015. New order intake of NOK 651 million, one contract and four LoIs secured during the quarter. Diversification strategy well underway, with breakthroughs in the expedition cruise vessel and aquaculture markets. Major contract for 15 Module Carrier Vessels secured after the end of the quarter... FULL DETAIL

Hyflux: Posts Net Profit Of S$7.3 Million In First Quarter Of 2016.

Hyflux Ltd reported profit after tax and minority interests of S$7.3 million for the three months ended 31 March 2016, 30% increase compared with S$5.6 million in the same period last year. Group revenue for 1Q2016 rose to S$248.3 million from S$60.4 million in 1Q2015. The higher PATMI and revenue were mainly contributed by the TuasOne Waste-to-Energy project and Qurayyat Independent Water Project... FULL DETAIL

Ezra: Announces US$40 Million Contract Wins For EMAS Offshore & EMAS Energy.

Ezra Holdings Limited's subsidiaries, EMAS Offshore Limited and EMAS Energy, have secured new contract awards and letters of intent amounting to approximately US$40 million, including options, since the start of 3Q FY2016... FULL DETAIL

Pacific Radiance: Posts 1Q FY16 Revenue Of US$18.4 Million & A Net Loss Of US$6.8 Million, Focussed On Overcoming Downturn.

Performance of subsea & OSV businesses impacted by the significantly weaker market conditions due to the severe drop in oil prices. Group will push on with strategic & tactical initiatives over next 12 months to sustainably overcome industry challenges ahead... FULL DETAIL

Vallianz: Clinches Time Charter Contract Worth Up To US$63 Million.

Group to supply 2 AHTSS vessels to a national oil company in the Middle East for up to 7 years. New contract raises the Group's order book to approximately US$950 million... FULL DETAIL

Yongnam: 1Q2016 Net Profit Up 133.3% To S$1.7 Million.

Revenue 11.8% higher at S$73.8 million on higher contributions from Structural Steelworks and Mechanical Engineering. Gross profit margin up 2.6 percentage points to 11.7%. Healthy order book of S$399 million as at March 31, 2016. Actively pursuing S$1.0 billion worth of infrastructural developments and commercial projects in Singapore and the region... FULL DETAIL

BOUSTEAD - FY2016 FINANCIAL RESULTS AND LIVE AUDIOCAST

May 24, 2016

Hyflux Ltd

Hyflux Ltd began in 1989 as Hydrochem (S) Pte Ltd, a trading company selling water treatment systems in Singapore, Malaysia and Indonesia and later, China. A little more than a decade later, Hyflux Ltd became the first water treatment company to be listed on the Singapore Stock Exchange in January 2001. Today, Hyflux has grown beyond just a water treatment company. It is recognised as Asia's leading environmental company with operations and projects namely in Singapore, China, the Middle East & North Africa and India.

Date	Open	High	Low	Close	Volume
Historical Price Data
13 May 2016	0.565	0.595	0.565	0.580	3,659,400
12 May 2016	0.560	0.565	0.555	0.560	1,432,500
11 May 2016	0.565	0.570	0.560	0.565	688,400
10 May 2016	0.570	0.570	0.555	0.565	1,818,600
09 May 2016	0.575	0.580	0.570	0.570	1,062,200

Fundamentals
EPS ($) ^a -0.01067	Rolling EPS ($) ^e -0.00871	NAV ($) ^b 0.4673	Issued & Paid-up Shares ^c 785,285,000	PE -
Rolling PE ($) ^f -	Price / NAV ^b 1.188	Par Value ($) n.a.	Dividend Yield (%) ^d 3.063	52 Weeks High 0.925
Cash Value ($) ^g 0.2109	Market Cap (M) 435.833	Dividend ($) ^d 0.017000	52 Weeks Low 0.470	Price / Cash Value ^g 2.632

a	Based on latest Full Year results announcement, adjusted for the current number of shares.
b	Based on latest results announcement (Full Year, Half Year or Interim), adjusted for the current number of shares.
c	Rounded to the nearest thousand. Updated on 13/05/2016.
d	Dividend is based on latest Full Year results announcement, adjusted for current number of shares and excludes special dividend.
e	Summation of the earnings from the latest 4 Quarter (or 2 Half Year) results announcement, adjusted for the current number of shares.
f	Based on rolling EPS
g	Based on latest results announcement (Full Year, Half Year or Interim), adjusted for the current number of shares. Cash value does not include bank loans or
	other borrowings.

Name	Volume	Name	Turnover	Name	Price	Chg
Week's Top Volume		Week Top Turnover		Week Top Gainer
VIVOCOM	422,707,600	TENAGA	764,772,798	DLADY	55.120	2.1200
VIVOCOM-WB	342,098,100	MAYBANK	589,500,715	BAT	48.980	1.9800
AAX-WA	317,902,400	CIMB	574,452,255	F&N	23.540	1.3000
AAX	283,445,400	PBBANK	543,994,902	EFORCE-WA	1.390	0.5950
MTOUCHE	211,500,200	MISC	420,555,358	HSI-H43	1.250	0.4400

Note: Weekly movement as at 13 May 2016

AirAsia X: Now Flies Direct To Tehran From Kuala Lumpur & Bangkok!

20th destination for AirAsia X Berhad and 5th destination for Thai AirAsia X in respective route network. Flights to commence from Kuala Lumpur on 21 June and from Bangkok on 22 June... FULL DETAIL

Sino Hua-an

Bonia

Titijaya Land

Name	Volume	Name	Turnover	Name	Price	Chg
Week's Top Volume		Week Top Turnover		Week Top Gainer
TRUE-T1	4,371,193,900	IVL	9,723,327,150	TBSP	152.000	16.0000
JAS-W3	2,082,127,200	PTT	8,536,042,300	ALUCON	220.000	14.0000
T	1,853,485,300	ADVANC	8,251,257,250	EGCO	188.000	11.5000
SUPER	1,598,686,600	CPF	7,795,310,790	PT\SSSC	43.750	11.2500
T-W3	1,551,160,500	CPALL	6,964,399,950	TF	169.500	9.0000

Note: Weekly movement as at 13 May 2016

Thaicom: Posts 700 Million Baht First Quarter’s Consolidated Net Profit New Partnerships & Value-Added Services Drive Network Usage.

Thaicom Public Company Limited (THCOM), one of Asia’s leading satellite operators, today announced its operating results for the first quarter of 2016. The company reported a consolidated net profit of 700 million baht, up 160 million baht, or 29.6%, from 540 million baht in Q1/2015... FULL DETAIL

AAV: Grows In Q1/2016 With Net Profit Of Baht 1,009.1 Million, Up 99% From Previous Year Load Factor At High Record Of 88% While Launching 10 New Routes In First 4 Months.

Asia Aviation Plc. (AAV), major shareholder of Thai AirAsia, has reported its financial results for Quarter 1 of 2016 (Q1/2016), displaying continued strength with revenue of Baht 8,952.5 million, up 16 percent year-on-year, Net Profit of Baht 1,831.8 million, 4.4 million passengers served and a Load Factor of 88 percent, up 5 percentage points from the same period last year... FULL DETAIL

AIS: Two Strong Partners, AIS & Starbucks, Unite To Serve & Attract More Customers Of The Digital Lifestyle.

Advanced Info Service PCL., underlining its leadership in digital networks and services, is reaching out to more customers through a new partnership with Starbucks. Together they are making AIS SUPER WiFi available at all Starbucks stores nationwide (except Suvarnabhumi Airport)... FULL DETAIL

TU: On Track For Another Record Year.

Thai Union Group PCL (TU) reported 2016 first quarter consolidated sales of THB 31, 257 million, up 9.3% from THB 28,606 million from the same period last year, with sales growth from recent acquisitions contributing during a seasonally low period. This promising start to 2016 clearly demonstrates the company’s ability to meet its annual target... FULL DETAIL

GPSC: Shows Its Vigorous Earnings In Q1 With A Net Profit Surging By 160% To 871 Million Baht Due To Efficient Cost Management.

GPSC reveals its earnings in the first quarter of this year growing continuous with the revenues hitting 5,484 million baht and net profit surging to 871 million baht, up 160% due to an efficient cost management as well as operational management system and increasing demand from PTT Group clients and EGAT... FULL DETAIL

Asiasoft: Disclose 1Q2016 Performance, Open More Games In 2Q2016.

May 12, 2016 : Mr. Pramoth Sudjitporn, The CEO of Asiasoft Corporation Public Company Limited , said that in 2016 Quarter 1 the company have total revenue 187 MTHB decreased by 19% from previous year 232 MTHB due to new game launch at the end of the quarter thus the full recognition of revenue will be done in the next quarter... FULL DETAIL

MC: Sales Surged 28% In Q1 2016 Reinforces Quality Brand Of Thailand.

Amid the challenges of unfavourable economic backdrop, MC GROUP Public Company Limited (“MC”) announced Q1 2016 sales revenues of THB 1,144 mn or a 28% boost from the same period last year driven by continuous sales network expansion and the company’s strong commitment to enhance efficiency in the supply chain management as well as innovative weekly sales promotion campaign to engage the customers under competitive environment. The company reported the net profit of THB 202 mn, a 4% increase from Q1 2015... FULL DETAIL

VGI: Net Profit Rose 19% BOD Declares 2nd-Yr-Half Dividends At THB 0.06 Per Share.

VGI, Thailand’s leading provider of lifestyle out-of-home media solutions, revealed its operating results for 2015/16 (Apr’15-Mar’16), highlighting a 19% y-o-y jump in net profit. It has declared dividends for the second year-half (Oct’15-Mar’16) at THB 0.06 per share. Management is expecting an explosive growth in 2016/17 as its acquisition of Master Ad will enhance its business competitiveness and strengths... FULL DETAIL

MINT: 1Q16 Net Profit Increases By 66%.

Minor International (MINT) announced net profit of Baht 3,575 million in 1Q16, a 66% increase from Baht 2,157 million in 1Q15. This growth was attributable to the strong performance of MINT’s hospitality and restaurant businesses, together with revaluation contributions from hospitality business’s M&A activities as required under Thai Generally Accepted Accounting Principles (Thai GAAP). Excluding such revaluation contributions in both 1Q16 and 1Q15, MINT’s 1Q16 net profit grew by 9% y-y, from Baht 1,507 million in 1Q15 to Baht 1,643 million in 1Q16... FULL DETAIL

GL: New Record-High Profits.

SET-listed digital finance firm Group Lease Public Company Limited (GL) has posted a record-high 222.17 million baht net profit from its operations in Q1 2016, which represents a massive 101.53% increase from the same period last year. The latest results mark the sixth consecutive quarterly record-high profits since the last quarter of 2014... FULL DETAIL

RATCH: Posts 1.259 Billion Baht Profits In Q1/2016, Rising 8% NNEG’s Revenue To Be Booked After Commercial Operation In June.

Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) reported the continuing growth of its operating performance for the first quarter of 2016. The profit was 1.259 billion baht, rising 8% over year. Earnings before interest and taxes (EBIT) were reported at 1.895 billion baht, increasing 2% from the first quarter of 2015. Efficient management of joint venture companies as well as cost and expense, particularly fuel cost helped support the growth of operating performance for this quarter. The company also expects to receive profit sharing from Nava Nakorn Electricity Generating (NNEG) project once commercially operated in upcoming June... FULL DETAIL

PTTEP - AM

May 16, 2016

Synergy Hall, 6th Fl., Enco C

VGI - AM

May 16, 2016

Eastin Grand Sathorn, Chong Nonsi room, 12th Floor

BCP - AM

May 18, 2016

Grand Ballroom, Grand Hyatt Erawan Bangkok (Lobby Level)

THAIBEV - AIM

May 18, 2016

Ballroom I&II, Level 2, InterContinental Hotel Singapore

PTTGC - AM

May 19, 2016

PTT Auditorium, 2nd fl, PTT

WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust

M Pictures Entertainment

Nok Airlines

Polyplex (Thailand)

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EPS ($) a

Rolling EPS ($) e

NAV ($) b

Issued & Paid-up Shares c

PE

Rolling PE ($) f

Price / NAV b

Par Value ($)

Dividend Yield (%) d

52 Weeks High

Cash Value ($) g

Market Cap (M)

Dividend ($) d

52 Weeks Low

Price / Cash Value g

EPS ($) ^a

Rolling EPS ($) ^e

NAV ($) ^b

Issued & Paid-up Shares ^c

Rolling PE ($) ^f

Price / NAV ^b

Dividend Yield (%) ^d

Cash Value ($) ^g

Dividend ($) ^d

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