Bloomberg News

Thailand Stocks: G Steel, Natural Park, Seafresh, Thoresen Thai

March 19, 2008

Thailand's SET Index (SET) fell 0.36, or less than 0.1 percent, to 811.86 as of 2:40 p.m. local time. About three shares gained for each two that dropped.

G Steel Pcl (GSTEEL) , the nation's second-biggest hot- rolled steelmaker, rose 0.02 baht, or 2.7 percent, to 0.75, headed for its highest close since March 3. Oriental Access Co. Ltd., a unit of G Steel, acquired 7.5 billion shares, or 22.6 percent, of Nakornthai Strip Mill Pcl (NSM TB) through a debt-to- equity conversion. G Steel and Oriental Access own 40 percent of Nakornthai after the stock acquisition.

Nakornthai, also a steelmaker, rose 0.01 baht, or 4 percent, to 0.26.

Natural Park Pcl (NPARK) (NPARK), a property developer, gained 0.01 baht, or 3.9 percent, to 0.27. The stock is the most actively traded by volume on the index so far today. Natural Park raised 201 million baht ($6.5 million) by selling new stocks to its shareholders, it told the stock exchange today. It sold 4.03 billion new shares in a rights offer earlier this month.

Seafresh Industry Pcl (CFRESH) , the exporter of frozen shrimp, rose 0.07 baht, or 4.1 percent, to 1.77, set for its largest gain since almost a year. The company will pay a dividend of 0.16 baht a share for 2007, unchanged from the previous year. The dividend will be paid on May 23, it told the stock exchange today.

Thoresen Thai Agencies Pcl (TTA) : Thailand's largest shipping company declined 1 baht, or 2.4 percent, to 41.

Thoresen expects more volatility in freight rates because of a lack of spare capacity in the market for vessels that transport commodities, said Managing Director Chandchutha Chandratat. The Baltic Dry Index (BDIY), a measure of rates in the dry-bulk shipping market, fell 0.3 percent in London yesterday for a sixth consecutive decline.

-- With reporting by Berni Moestafa in Jakarta. Editor: Sam Waite

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Nicolas Johnson at nicojohnson@bloomberg.net.


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