Bloomberg News

Thailand Stocks: Kasikornbank, Siam Commercial Bank, Thai Rung

April 19, 2012

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 (SET) rose 1.5 percent to 1,185.34, the largest gain since March 27.

Auto-part makers: Thailand’s car production rose 11 percent from a year earlier to a record 190,935 units in March, the Federation of Thai Industries said in a statement today.

Thai Rung Union Car Pcl (TRU) surged 17 percent to 9.6 baht, the highest close since April 2005. Somboon Advance Technology Pcl (SAT) gained 1.8 percent to 28 baht. Thai Stanley Electric Pcl (STANLY) added 2.2 percent to 183 baht, the the biggest advance since March 19.

Kasikornbank Pcl (KBANK) , Thailand’s third-largest bank by total assets, climbed 4.6 percent to 158 baht, the steepest advance since Oct. 25. Net income in the first quarter surged 47 percent to 8.99 billion baht ($291 million).

Nippon Pack (Thailand) Pcl (NIPPON) , a producer of food and beverage packaging, jumped 17 percent to 48.5 baht, the highest close since December 1996. A group of investors acquired a 51.5 percent stake in the company at 28 baht each from two existing shareholders, the company said in a regulatory filing. The new shareholders plan to make an offer for the remaining shares, it said.

Siam Commercial Bank Pcl (SCB) , the nation’s second- biggest lender by total assets, advanced 4.6 percent to 147 baht, the largest increase since Oct. 27. Profit in the first quarter dropped 21 percent to 10.3 billion baht. That compared with the average forecast for a 9.03 billion baht profit of seven analysts surveyed by Bloomberg.

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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