Bloomberg News

Thailand Stock Movers: Indorama Ventures, PTT, Sri Trang Agro

October 05, 2011

Oct. 5 (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 rose 7.20 points, or 0.8 percent, to 862.65, the first advance in six days.

Indorama Ventures Pcl (IVL TB), a chemical maker, climbed 3.7 percent to 25 baht, halting a five-day, 22 percent slide. Indorama plans to spend $600 million to build a new plant in the Middle East, the Bangkok Post reported, citing Chief Executive Officer Aloke Lohia. Lohia wasn’t available for comment when called at his office.

PTT Pcl (PTT TB), Thailand’s biggest energy company, gained 3.3 percent to 250 baht, the first increase in six days. PTT plans to sell 20 billion baht ($641 million) of bonds in November and will use the proceeds to repay debt, Chief Financial Officer Tevin Vongvanich said today in Bangkok.

Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, advanced 2.1 percent to 14.4 baht, snapping a five-day, 20 percent loss. Rubber futures in Tokyo advanced after Thailand, the world’s largest producer and exporter, set a minimum price for the commodity used to make tires and gloves and announced steps to cut supply to try to counter a slump.

--Editors: Shiyin Chen, Tony Jordan

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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