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  1. #1
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    Sri Thai Superware

    from the Bangkok Bullshit:

    A golden year lies ahead for Srithai Superware Plc, the country's largest melamine producer, as it looks to gain from the expanded Asean Free Trade Agreement (Afta).
    President Sanan Angubolkul said sales of plastic packaging for food and beverages would double this year. With zero import tax under Afta, the company has new orders from Laos, Cambodia, Burma, the Philippines and Indonesia. It is also negotiating with customers in Vietnam.
    Apart from the Afta benefit, Srithai has bought new technology to produce the latest version of closures from the UK. This should create more export opportunities. Due to its economies of scale and lower cost, Srithai has been named the global source of Coca-Cola closures for the Asian market.
    "We are very optimistic about food and beverage packaging and are expanding our production capacity at both local and overseas factories this year," Mr Sanan said.
    The company plans to spend 650 million baht at its three factories in Nakhon Ratchasima, Bang Poo district in Samut Prakan and Amata Nakorn Industrial Estate in Chon Buri. Of the total, 130 million will be spent on machinery with the remainder for moulds and facility and IT-system upgrades.
    Another 70 million baht will be spent to set up a joint-venture factory in India by the end of this year to make melamine products and sell them via direct channels in India. About 60 million baht will be spent to expand in Vietnam after receiving extra orders.
    "We are investing more in international markets this year because of the shortage of labour in Thailand," said Mr Sanan. "Because of Afta, export sales are forecast to jump by 600%. This will be the first golden year for Srithai since the financial crisis in 1997."
    Srithai recently sought Board of Investment privileges for expansion at its Bang Poo and Suk Sawat factories. It plans to invest 350 million baht in 2011 in new machinery at Suk Sawat and 420 million in Bang Poo for new machinery and moulds.
    Sales of Srithai in 2009 were estimated at 4.8 billion baht, about 200 million below target, because raw material prices increased. Gross profit grew more than 20% because the company adjusted its product mix, shifting from industrial parts and electrical components to more food and beverage packaging.
    Mr Sanan expects sales this year to grow by 18% to 5.65 billion baht, mainly on growth of food and beverage packaging, with a gross margin of 21.3%.
    Shares of Srithai (SITHAI) closed on Friday on the Stock Exchange of Thailand at 5.40 baht, up 10 satang, in trade worth 3.29 million baht.

    Although I'm aware of the bullshit the Bangkok Bullshit prints, I have decided to take my risk on this one and bought 100,000 shares . If you wish to join me in this catastrophe , the ticker on SET is SITHAI.

    The stock is trading at the very discounted price of 0.3 times its book value.
    The Stock Exchange of Thailand : Companies/Securities in Focus

  2. #2
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    The plates and dishes they produce are of good quality, their setup is nice and clean, surely no problem to export their products...

    They were private before 1997 and around 2000, Thaitoy, who makes toys, their neighbor in Korat joined the group that went largely government owned to save it at that time...

    I do not know actual ownership status...

  3. #3
    Pronce. PH said so AGAIN!
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    Quote Originally Posted by wefearourdespot
    country's largest melamine producer,
    Quote Originally Posted by wefearourdespot
    export sales are forecast to jump by 600%.
    Are they going to export to Chinese baby food manufacturers?

  4. #4
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    Quote Originally Posted by slackula View Post
    Quote Originally Posted by wefearourdespot
    country's largest melamine producer,
    Quote Originally Posted by wefearourdespot
    export sales are forecast to jump by 600%.
    Are they going to export to Chinese baby food manufacturers?
    Nope, they make melamine tableware so I guess they will drain melamine powder off the market , forcing poor dairy Chinese manufactures to look for another source of cheap proteins.

  5. #5
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    Quote Originally Posted by forreachingme
    I do not know actual ownership status...
    If you download the 2008 report from the link I posted above , on page 29 there's the list of the first ten stockholders, they are all Thai persons , mostly from the Lertsumitkul family (not that says anything to me)

  6. #6
    Thailand Expat Jesus Jones's Avatar
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    is this company related to Srithai mold and die my any chance?

  7. #7
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    Another piece about Sri Thai on the BP

    Srithai sales set to take off

    Sales of Srithai Superware Plc will grow by 50% year-on-year to 1.35 billion baht in the first quarter of this year, about 30% higher than its projection.
    Chairman Sanan Angubolkul displays some of the products Srithai Superware makes. Srithai expects heavy sales this quarter on increased exports and higher farmers’ incomes. It has also signed a joint-venture agreement withHMC Polymers to develop newplastic products.

    Sanan Angubolkul, the company's chairman and president, said the sharp increases would come from both melamine and plastic businesses, particularly upcountry as rural consumers earn more from higher crop prices. Moreover, Srithai is seeing strong demand from the Middle East and Asian market.
    "As an exporter, we are concerned about currency fluctuation. We want the baht to be more stable, but it's fine if the exchange rate stands at 32 baht against the US dollar," he said.
    To reflect prevailing rates, the company plans to raise the prices of its melamine and plastic exports to Asian and Middle Eastern markets by 5-10% this year.
    The company is also expanding its brand overseas this year in Dubai, India, Vietnam and Malaysia.
    "In the global melamine tableware market, everybody knows us as the world's largest melamine producer. But I want our brand to resonate globally with consumers," Mr Sanan said.
    Srithai will revise its investment plan in India by renting a factory instead of investing in a plant. This will save it 100 million baht.
    To increase its competitiveness, the company yesterday signed a memorandum of understanding with HMC Polymers Co for a joint sustainable development of various polypropylene plastics such as in-mould labelling and thin-wall injection packaging, as well as in-mould labelling battery cases.
    Srithai and HMC will focus on knowledge exchange, co-development of new products, process technology, customer fulfillment and response to domestic and international markets.
    Niels Nielsen, president of HMC Polymers, said new products from the company would have a production capacity of 300,000 tonnes per year starting the second quarter of this year. With the added capacity, Srithai will have total capacity of 750,000 tonnes per year.
    The additional capacity will serve the downstream manufacturer in industries that produce high value-added goods for domestic and international markets.
    Apart from currency, Mr Sanan also mentioned his concern about the Map Ta Phut environmental regulation impasse.
    "If the government cannot solve this problem quickly, it will create a shortage of polypropylene resin that will impact downstream manufacturers," he said.
    Mr Sanan expects sales this year to grow by 18% to 5.65 billion baht, mainly on growth of food and beverage packaging, with a gross margin of 21.3%.
    Shares of Srithai (SITHAI) closed unchanged yesterday on the SET at 5.75 baht in trade worth 4 million baht.

    Sales forecasted up 50% (in older article the forecast was +20%).
    Share price increased 35 satang (6.50%) from my previous call , a bit disappointing compared to SET index.
    To check if forecasts are right we must wait for the 1q2010 results , around 15 May.
    Meanwhile the company confirmed a 35 satang dividend like previous year , even if 2009 EPS have been 21 satang only.

  8. #8
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    Quote Originally Posted by Jesus Jones
    is this company related to Srithai mold and die my any chance?
    Yes and they have other Mould and Die divisions within the group including Srithai Miyagawa.


    Quote Originally Posted by wefearourdespot
    mostly from the Lertsumitkul family
    The founder was Khun Summit Lertsumitkul but he passed away about 3 years ago leaving his shares to his Sons.

    The driving force behind this company is Khun Sanan who I have known personally for nearly 20 years and he is certainly a very good businessman and gentleman to boot. Whilst Khun Sanan is at the helm I can only see Srithai moving forward but I believe they are top heavy with regard to corporate management and not enough good people on the shop floor to handle their over 30,000 employees.

    With regard to Srithai Superwares melamine products they are made to very high quality and according to Global FDA health Standards.

    About 4 years ago I had a meeting with Knun Sanan about the problems in China but there was nothing much we could do about the extremely dangerous Chinese manufacturing practises. We knew but nobody wanted to listen and only suspected we were trying to create bad publicity because the Chinese were grass cutting our prices by up to 40%.

    Srithai are a good company but suffer the same problem we all do and that is the fact we are being held to ransom by the Global Petro-chemical Corporations and with regard to the fluctuations in plastic resin prices.

    Khun Sanan is also involved directly with the Hyatt and Marriot Hotel chains by way of his wife's family company.

  9. #9
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    Can we be sure of standards ? If possible I put my money where my mouth is. See the toxic risks at :

    http://en.wikipedia.org/wiki/Melamine

    I''m not a chemist and do not understand these complexities. However I do my best to seek out companies that are somewhat ethical and I would challenge them to show me they are taking care to reduce long term health risks and ensure efforts are made to reduce damage long term and down stream from cradle to grave. Health trumps wealth.

  10. #10
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    It's moving at last

    It's now quoting 6.25 baht , a 16% increase since my call. The Stock Exchange of Thailand : Companies/Securities in Focus

  11. #11
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    It's going in the right direction but too soon to tell and volume not meaningful to date.

    Buying 100,000 shares could move this market alone. Where will you sell and to whom ?

    Good luck.

  12. #12
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    Personally I would not invest in Srithai, in fact any Thai based company until the present political problem is sorted to an internationally accepted level.

    We probably will never see complete political harmony here in Thailand but having said that the present situation is too risky for foreign investors IMO.

  13. #13
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    I will sell them the same way I bought them, that is 20,000 shares at a time and putting a price limit of course. It's not a very liquid stock but it's not that illiquid either
    The Stock Exchange of Thailand : Companies/Securities in Focus

  14. #14
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    ^ Good luck and what skills they lack on the shop floor they more then make up for with regard to good PR and media presentation.

  15. #15
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    1Q results out

    http://www.set.or.th/dat/prsnews/new...826586905E.pdf profits up 290% to 22 satang per share (1 satang more than the whole 2009) , http://www.set.or.th/dat/prsnews/new...832972370E.pdf sales up 51%.
    Stock is up 10 satang to 6.15 while SET index is down 2.40%

  16. #16
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    considering the stock also paid a 35 satang dividend , it's up 20% since my call at 5.40

  17. #17
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    closed the day at 6.30

  18. #18
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    New piece on BP

    S Natur to expand overseas
    Srithai Superware Plc, Thailand's leading melamine tableware manufacturer, plans to expand its multi-level direct sales business internationally this year.
    Mr Sanan (right) and Mr Banchar shake hands after announcingSNatur’s international expansion plans yesterday.

    The company will start the expansion within Asean, where it can benefit from the Asean Free Trade Area agreement.
    Srithai plans to take S Natur - its direct sales business selling health, beauty and homecare products - to Burma, Laos and Cambodia this year, said president Sanan Angubolkul.
    As an initial step, the company will set up branches in Tak and Nongkhai as representative offices and service centres for expanding into both countries before establishing branches there.
    Next year the company will move into Vietnam, Indonesia, Malaysia and India with a future goal of entering markets in the Middle East and Africa.
    Srithai expects its direct sales business to cover Asia within the next few years. It aims to gain between 250-300 million baht in sales from the international market by 2014, in addition to 700-750 million baht in domestic sales.
    "If Amway, the US direct sales firm, can establish itself in Thailand, why not S Natur of Srithai, which has established the strong direct sales business through the single level for over three decades?" said Mr Sanan.
    "With the reduction of import tariffs among Asean countries, our every move will take into account the regional policy to tap a market with a population of almost 600 million."
    The firm will expand direct sales in countries where Srithai already has networks and business relationships, he said.
    "Now, we will export our melamine products and plastics to 105 countries worldwide," he said. "It took about 30 years for Superware to be a global brand, but we are confident that S Natur will become a global brand within a decade."
    Banchar Haemintakun, who was recently appointed as chief operating officer for S Natur, said the company will spend 50 million baht this year to support its expansion plan, including opening a new head office on Ratchadapisek Road, upgrading software, renovating offices and opening new branches.
    About 20 new products will be added to the S Natur product portfolio this year. The company expects to double sales representatives to 40,000 this year and to have 100,000 members in 2014. Srithai expects sales of S Natur in its next fiscal year - starting July 2010 - to reach 300 million baht, up from 100 million in the current fiscal year.
    Sales of Srithai Superware in the first quarter were 1.45 billion baht, up by 37% year-on-year. Sales last month were 390 million baht, up from 330 million. The rise in sales slowed from the first quarter because of political instability but the performance for the first four months beat forecasts.
    Shares of Srithai closed on the Stock Exchange of Thailand yesterday at 6.3 baht, up 25 satang, in total trade of 1.49 million baht.




    Today shares plunged back to 6 baht because someone dumped 3 million shares (a very unusual amount for this stock) shortly after the opening. I bought another 20,000 .

  19. #19
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    a great day for Sri Thai today , up to 6.60 baht with over 900,000 shares traded in spite of the index falling 1.3%.

  20. #20
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    Someone's a happy chappy right about now…


    Seems like a good call, congratulations

  21. #21
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    Today's close is 7.15 , up 8.33% with almost 2 million shares traded.
    Sold 10,000 this morning at 7.00 as it looked losing stamina...oh well, there are still 110,000 to enjoy

  22. #22
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    Another jump up , it's now 7.70 , fool me I sold 50,000 shares at 7.00 / 7.10 past week , now I have only 60,000 left to enjoy this further ride.

  23. #23
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    Big plunge today for Sri Thai shares , now down 40 satang to 7.45 , because of this http://www.set.or.th/dat/prsnews/new...937459005E.pdf

  24. #24
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    Sri Thai up 13% to 9 baht today , unfortunately I have only 20,000 shares left to enjoy this rally as I cowardly sold most of them at prices between 7 and 7.30 baht in the days following the fire accident

  25. #25
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    Sri Thai up to 10 baht. When I think to the 300,000 baht more profit I would have done if I had not sold 100,000 shares in the 7 baht area ...

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