Bloomberg News

Thailand Stocks: IRPC, Khon Kaen, PTT Exploration, Sri Trang

December 01, 2011

Dec. 1 (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 fourth day, adding 2.4 percent to 1,019.15, the highest close since Sept. 21.

Oil companies: PTT Pcl (PTT TB), Thailand’s biggest energy company, climbed 3.3 percent to 316 baht, the highest close since Sept. 15. PTT Exploration & Production Pcl (PTTEP TB), the nation’s only publicly traded oil explorer, jumped 5.5 percent to 164 baht, the largest gain since Feb. 4.

Crude oil traded near a two-week high in New York as risks to Middle East supplies from the clash between Iran and western governments were balanced by concern that demand will be curbed by Europe’s sovereign-debt turmoil.

Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), the country’s biggest publicly traded rubber producer, increased 4.7 percent to 18 baht. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) advanced 3.9 percent to 3.24 baht. Rubber futures surged to the highest level in three weeks on the Tokyo Commodity Exchange.

Khon Kaen Sugar Industry Pcl (KSL TB), a Thai sugar producer, added 4.1 percent to 12.6 baht, the highest close since Sept. 21. Raw sugar for March delivery gained for a third day, advancing 0.9 percent to settle at 23.69 cents a pound yesterday on ICE Futures U.S. in New York.

Central Plaza Hotel Pcl (CENTEL TB), an operator of hotel and food chains, climbed 1 percent to 10 baht. The company plans to almost triple the number of its hotels under management by the end of 2016 to tap rising demand from Asian travelers, Vice President Ronnachit Mahattanapreut told investors in Bangkok today. Central Plaza expects to own and manage 89 hotels in Thailand and other Asian countries by 2016, from 31 now, he said.

IRPC Pcl (IRPC TB), a petrochemical producer, gained 3.1 percent to 4 baht, the highest close since Sept. 22. The company expects its revenue to grow as much as 15 percent next year on rising production capacity and wider margins for its refinery and petrochemical products, President Atikom Terbsiri said 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: Darren Boey at dboey@bloomberg.net


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus