Bloomberg News

Thailand Stock Movers: Khon Kaen Sugar, Tata Steel, Thai Airways

December 29, 2011

Dec. 29 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of 10:50 a.m. in Bangkok.

The SET Index fell 0.3 percent to 1,024.67, set to decline for a sixth straight day. The measure has fallen 0.8 percent this year.

Khon Kaen Sugar Industry Pcl (KSL TB), a Thai sugar producer, rose 2.3 percent to 13.4 baht. Khon Kaen will probably report “strong” year-on-year profit growth for the first quarter of 2012, driven by “substantially greater sugar, ethanol and electricity sales volume,” Bualuang Securities said in a note to clients dated today.

Tata Steel (Thailand) Pcl (TSTH TB), a unit of Tata Steel Ltd., slid 1.2 percent to 0.83 baht. The company said Laptawee Senavonge resigned as the company’s president for personal reasons. Peeyush Gupta will serve as interim president, the company said today in a regulatory filing.

Thai Airways International Pcl (THAI TB), the national carrier, gained 1 percent to 20.2 baht. The company’s Thai Smile unit plans to add flights to five destinations in Asia within its first year of operation, the Nation reported, citing Thai Smile managing director Woranate Laprabang. Woranate couldn’t be reached when called at his office in Bangkok.

--Editor: Shiyin Chen

To contact the reporter on this story: Tony Jordan in Bangkok at tjordan3@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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