Bloomberg News

Thailand Stocks: Central Pattana, Thai Rayon, Thai Optical

November 23, 2011

Nov. 23 (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 fell less than 0.1 percent to 976.87.

Central Pattana Pcl (CPN TB), the nation’s biggest shopping mall developer, gained 2.2 percent to 35.25 baht. The country’s floods won’t have a significant impact on sales this year, Chief Financial Officer Naris Cheyklin said at an investors’ meeting in Bangkok today. Revenue lost because of store closures in Bangkok will be offset by higher sales at outlets in cities such as Pattaya and Chiang Mai, he said.

Thai Rayon Pcl (TR TB), a chemical producer, slumped 8.8 percent to 77.5 baht, the lowest close since Oct. 25. The company said annual profit fell 6.9 percent and announced plans to take a one-third stake in a viscose staple fiber plant in Turkey at a cost of 865 million baht ($28 million).

Thai Optical Group Pcl (TOG TB), the largest publicly traded maker of optical glasses, climbed 1.5 percent to 2.76 baht. The company expects sales to rebound to 1.5 billion baht in 2012 on new products and plant expansion, Wirach Pracharktam, deputy managing director, told investors in Bangkok today. Sales this year may drop to about 1.12 billion baht, from 1.41 billion baht in 2010, after floods halted production at a plant for about a month, he said.

--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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