Bloomberg News

Thailand Stocks: Banpu, Khonburi Sugar, Sri Trang, Thai Rubber

November 25, 2011

Nov. 25 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are at the close in Bangkok.

The SET Index fell 1.4 percent to 967.18. The gauge dropped 1.7 percent this week, the first decline in three weeks.

Coal producers: Banpu Pcl (BANPU TB), Thailand’s biggest producer, slipped 2.5 percent to 546 baht. Lanna Resources Pcl (LANNA TB) lost 2.2 percent to 22.7 baht, the most since Nov. 7.

Coal prices in Asia are unlikely to recover in 2012 from the first decline in three years as electricity-price controls prompt Chinese and Indian utilities to limit purchases of the fuel. Power-station coal at the Australian port of Newcastle, a benchmark price for Asia, will average about $118 a metric ton next year, according to the median estimate of six analysts and traders surveyed by Bloomberg News. Prices have averaged $122 so far in 2011.

Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, dropped for a sixth day, declining 1.2 percent to 17 baht, the longest losing streak since February. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) fell 1.9 percent to 3.04 baht, the lowest since Oct. 21.

Rubber futures declined in Tokyo as concerns grew that European leaders are struggling to contain the debt crisis, threatening the global economic recovery and demand for the commodity used in tires.

Khonburi Sugar Pcl (KBS TB), a sugar producer, gained 2.9 percent to 10.7 baht, the largest increase since Nov. 15. Net income for the year ended Sept. 30 more than quadrupled to 800.95 million baht ($25.7 million).

--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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