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Bualung Securities reports after AAPICO Opportunity Day 29.11.2012: Profit in line with estimate AH reported a 3Q12 net profit of Bt168m, up 24% YoY but down 40% QoQ. The result was in line with our estimate but below 22% the Bloomberg consensus. 9M12 earnings jumped 98% YoY to Bt543m (boosted by insurance payouts and stronger other income than assumed), which represents 94% of our earlier FY12 projection. Results highlights Sales rose by 42% YoY and 9% QoQ to Bt4.3bn. The 3Q12 top-line expansion was due to capacity expansion at AH's main plant in Hitech Industrial Estate in order to supply rising demand from car makers for component parts to manufacture vehicles for both domestic and export sale. Gross margin fattened further to 6.6percent from 6.3% the previous quarter. But AH's net margin fell to 4.0percent from 7.1% in 2Q12 and 4.5% in 3Q11 because of higher OPEX, mostly related to the new capacity. Outlook We anticipate that the firm will deliver weaker QoQ core earnings f...

THE NATION reports: This year can certainly be considered the golden year for Thailand's automobile industry. Just grab a look at these figures: apart from achieving a new sales record of an expected 1.4 million vehicles, 2012 also marks the first year that the industry has broken the 2-million-vehicle production mark. Auto exports from Thailand this year is estimated at Bt1 trillion, making the auto industry the biggest earning industry, with 1-tonne pickup trucks and eco-cars as the mainstream products, as well as auto parts and components. Watching this growth trend, many are already eyeing the 3-million-vehicle production mark for the auto industry. The Industry Ministry along with the Federation of Thai Industries (FTI), the Auto Industry and the Auto Parts Industry Club of the FTI, Thai Automotive Industry Association (TAIA), Thai Auto Parts Manufacturers Association (TAPMA), Board of Investment (BoI) and the Thai Automotive Institution (TAI) recently celebrated the 2-million...

More news from THE NATION : The Industry Ministry has set a target for the country's total automobile production to reach 3 million units by 2017. In collaboration with the Federation of Thai Industries (FTI) represented by the Automotive Industry Club and the Auto Parts Industry Club; the Thai Automotive Industry Association; the Thai Auto Parts Manufacturers' Association; the Office of the Board of Investment; and the Thailand Automotive Institute, the ministry yesterday announced that production by the the Thai automotive industry had exceeded 2 million units for the first time. Ministry permanent secretary Vitoon Simachokdee said total production was expected to reach about 2.3 million this year, of which 1.3 million vehicles would for sale domestically and the rest for export. About 252,165 vehicles were manufactured in October alone, up 410 per cent over the same month last year. The high growth was due to the low production at the end of last year because of the massive ...

NATION MULTIMEDIA Report: The Excise Department yesterday revealed that registrations for tax refunds under the first-car rebate scheme exceeded 581,000 valued at about Bt43 billion. "We expect the total number of applications to the first-car scheme will exceed 600,000 by the time the project ends, so more than the 500,000 units targeted earlier by the department," said Excise Department director-general Somchai Poonsawat. The programme ends on December 31. "Although the number of car buyers eligible for tax rebates will exceed our target, we will not limit the amount of money to be refunded to them, which is in line with the government's policy. As the first car-scheme will expire at the end of this year, I have relayed the policy to all staff of the Excise Department to facilitate anyone asking for the tax refund," he said. It had been expected that if the 500,000-unit target were reached, the tax-refund budget would be about Bt32 billion, he said.

Thailand FTI Press Release in full: Bangkok – 23 November 2012:  The Ministry of Industry, in collaboration with the Federation of Thai Industries (FTI) represented by the Automotive Industry Club and  the Auto Parts Industry Club; the Thai Automotive Industry Association; the Thai Auto Parts Manufacturers’ Association; the Office of the Board of Investment; and the Thailand Automotive Institute, announced a milestone for the Thai automotive industry of reaching annual production of more than two million automobiles for the first time. They also revealed their commitment to boost investor confidence and set a goal to produce three million cars per year by 2017. From Left to Right: Mr. Yongkiat Kitaphanich, President of the Auto-Parts Industry Club, The Federation of Thai Industries, Mr. Suparat Sirisuwannangura, President of the Automotive Industry Club, The Federation of Thai Industries, Mr. Payungsak Charts utipol, Chairman of the Federation of Thai Industries, Mr. Vitoon Si...

THE STAR, MALAYISA: For years, Malaysia must have viewed the moves Thailand has made to its auto industry with some envy. Despite starting from scratch and well behind Malaysia's auto industry, Thailand now has arguably the most dynamic auto industry in South-East Asia, with Indonesia fast catching up. Has the opportunity to have a meaningful and competitive auto sector bypassed Malaysia? Not if you ask Malaysia Automotive Institute (MAI) chief executive officer Madani Sahari. He feels the Malaysian automotive industry is set to enter an exciting decade of liberalisation and growth, where consumers get to enjoy more choices and value as the motor vehicle market would be more open and competitive. Check out the article here .

THE NATION reports: Honda Automobile (Thailand) aims to boost annual car production capacity by 20 per cent next year to 240,000 units from the present 220,000, according to executive vice president Pitak Pruittisarikorn. Of the planned 20-per-cent output hike, 10 per cent would be implemented early next year and the remaining in the second half. This will see its production capacity increase from 1,000 units per month to 1,100 and subsequently to 1,200 units per month to cater to rising demand. Honda launched its 10th model this year after its flood-stricken plant in Ayutthaya resumed operations in April, this year. The new model, Brio Amaze, is a four-door version of Honda's first eco-car Brio. The Brio Amaze is powered by a 90-horsepower 1.2-litre engine and is available in four variants: S manual transmission priced at Bt454,000; S automatic transmission at Bt493,000; V MT at Bt482,000; and V AT at Bt521,000. Customers buying the Brio Amaze under the First Car Buyer scheme will...