Bloomberg News

Thailand Stocks: Ch. Karnchang, Ekarat, Krung Thai, Robinson

November 29, 2011

Nov. 29 (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 for a second day, climbing 0.4 percent to 988.06. The gauge has gained 1.4 percent this month, set for a second monthly advance.

Ch. Karnchang Pcl (CK TB), a Thai construction company, added 1.3 percent to 7.75 baht. The company was upgraded to “outperform” from “neutral” by Nat Panassutrakorn, an analyst at KGI Securities (Thailand) Pcl, who cited “resilient earnings” in 2012.

Ekarat Engineering Pcl (AKR TB), a Thai producer of power transformers, slumped 19 percent to 0.65 baht, a record low. Ekarat and its unit were ordered by a court to repay debt of 933.5 million baht ($29.8 million), it said in a regulatory filing.

Krung Thai Bank Pcl (KTB TB), the nation’s second-biggest lender, rose 2.1 percent to 14.7 baht, the most since Nov. 14. The bank expects loans to grow between 6 percent and 8 percent next year, President Apisak Tantivorawong said. The state-owned bank expects its loan growth this year at 10 percent, above an earlier target of 7 percent, he said.

Khonburi Sugar Pcl (KBS TB), a sugar producer, gained 2.7 percent to 11.50 baht, the highest close since Sept. 9. Sugar production in Thailand, the world’s second-biggest exporter, may climb to a record for a second year after the crop escaped significant damage from the worst floods in almost seven decades, Prasert Tapaneeyangkul, the secretary-general of the Office of Sugar & Cane Board, said in a phone interview today.

Robinson Department Store Pcl (ROBINS TB), the country’s second-largest department-store operator, increased 2.1 percent to 37.75 baht, the highest close since Nov. 16. The company plans to boost capital spending in 2012 to 3 billion baht, from 2.5 billion baht in 2011. The funds will be used to build new stores in Bangkok and Thailand’s provinces, Parivat Sopasit, Robinson’s chief financial officer, told a meeting of investors in Bangkok today.

--Editor: Ravil Shirodkar

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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