Bloomberg News

Thailand Stocks: Indorama, Rojana, Thai Oil, Tipco Asphalt

October 10, 2011

Oct. 10 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index rose 1.5 percent to 923.17, the highest since Sept. 29.

Flood-affected companies: Rojana Industrial Park Pcl (ROJNA TB), a developer of industrial land, slumped 13 percent to 6.1 baht, the lowest close since Aug. 3, 2009. Hana Microelectronics Pcl (HANA TB), a maker of electronic parts, dropped 1.8 percent to 16.5 baht, the first drop in five days. Single Point Parts (Thailand) Pcl (SPPT TB) declined 5.7 percent to 2.30 baht, the lowest since July 30, 2009.

Rojana said all plants at its industrial park in Thailand’s Ayutthaya province have stopped operations because of flooding. Hana and Single Point said their factories in Ayutthaya province have also been closed.

Indorama Ventures Pcl (IVL TB), the nation’s biggest maker of chemicals used in plastic bottles and polyester, increased 7.1 percent to 30 baht, the highest close since Sept. 27. Indorama plans to sell 7.5 billion baht ($243 million) of bonds to cut financial costs and fund expansion, it said in an e- mailed statement.

Thai Oil Pcl (TOP TB), the country’s biggest oil refiner by market value, climbed 5.3 percent to 55 baht. Thai Oil expects net income to reach 12 billion baht in the first nine months, Chief Executive Officer Surong Bulakul told reporters today.

Tipco Asphalt Pcl (TASCO TB), the nation’s largest asphalt producer, surged 29 percent to 51.75 baht, the steepest advance since March 2000. Demand for paving material will surge because of flood damage to roads and highways in Thailand, Surachai Pramualcharoenkit, an analyst at Trinity Securities Co., said by phone today.

--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: Shiyin Chen at schen37@bloomberg.net


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