Stecon got my attention again.

According to the local press today the Thai Cabinet just approved supplementary budgets of as much as Bt130bn (equivalent to an increase of 13% from the current fiscal 2004 budget) due to higher-than-expected tax collection. Majority of the additional budget will be used on "infrastructure projects that will stimulate private investments." It was stated.

If one assumes that all of the budget will be used up on infrastructure spending, then potential projects for contractors will rise by some Bt400bn,  an increase of 75% from the last fiscal year.

The environment remains hugely positive for all contractors, amongst whom I prefer is STECON, only seconded by PLE and ITD.

STECON reported good to excellent 3 Quarter, has excellent cost controls and learned its lesson from the past. I hope to visit this company again soon.   I also noted that on the bad sell off yesterday, STECON actuall firmed up at the end of the session. This is a good market sign.

After reaching a high of 19 in October, I think around the current price of 15.30 or lower, Stecon once again has my long term buy attention. This is my view only and always diversify.