Bloomberg News

Thailand Stocks: Asia Precision, Jasmine, Sri Trang, True Corp

September 29, 2011

Sept. 29 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.

The SET Index fell 5.39 points, or 0.6 percent, to 926.21. The gauge has lost 11 percent this quarter, set for the biggest loss since the three months ended December 2008.

Rubber producers: Rubber futures in Tokyo tumbled to a 13- month low, heading for the worst quarterly loss since 2008, as concern grew that Europe’s debt crisis may deepen, sending global economies into a recession and damping raw-material demand.

Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, dropped 2.9 percent to 16.6 baht. Thai Rubber Latex Corp. (Thailand) Pcl declined 1.3 percent to 3.06 baht.

Asia Precision Pcl (APCS TB), a Thai producer of automobile parts, lost 3.7 percent to 5.25 baht on its trading debut. The company sold 75 million shares at 5.45 baht each in an initial public offering.

Jasmine International Pcl (JAS TB), a Thai Internet service provider, gained 3.1 percent to 1.67 baht. The company expects the number of its broadband Internet customers to double over the next three years, Kao Hoon reported, citing Chief Executive Officer Pete Bodharamik. Users may rise to 2 million from 900,000, the Thai-language newspaper said. Pete was unavailable for comment after a call to his office.

Thai Toray Textile Mills Pcl (TTTM TB), a maker of polyester fabrics, climbed 2.5 percent to 82 baht. The company will pay a dividend of 1.50 baht a share, it said in a regulatory filing.

True Corp. Pcl (TRUE TB), the operator of third-biggest mobile-phone network, dropped 3.6 percent to 3.26 baht, the lowest close since Nov. 8. The company was downgraded to “hold” from “trading buy” at Bualuang Securities Pcl, which cited regulatory risks for its high-speed wireless service.

--Editor: Matthew Oakley

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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