Bloomberg News

Thailand Stocks: Golden Land, PTT, PTT Exploration, Sri Trang

June 01, 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) slid 2.3 percent to 1,115.19, the most since Oct. 20. The gauge dropped 1.6 percent this week, its fourth weekly decline.

Oil companies: PTT Pcl (PTT) , Thailand’s largest oil company, decreased 2.6 percent to 305 baht. PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, lost 1.6 percent to 154.5 baht.

Oil fell to a seven-month low in New York, heading for its longest weekly losing streak in 5 1/2 years.

Rubber producers: Sri Trang Agro-Industry Pcl (STA) , Thailand’s largest rubber producer, declined 2.7 percent to 14.70 baht, the most since May 16 . Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB) fell 2.6 percent to 3.06 baht.

Rubber futures lost 2.7 percent to end at 255.3 yen a kilogram ($3,252 a metric ton), the lowest settlement level for the most-active contract since Nov. 10, on the Tokyo Commodity Exchange.

Golden Land Property Development Pcl (GOLD) , a property developer, jumped 11 percent to 4.86 baht, the highest close since September 2008. Billionaire Charoen Sirivadhanabhakdi’s investment units acquired majority control of Golden Land after buying shares from the Mahagitsiri family, the Thai-language Kao Hoon reported, without saying where it got the information. Charoen’s units bought Golden Land stock at more than 6 baht a share, the newspaper said. Christopher Michael Delaney, Golden Land’s chairman and acting chief executive officer, wasn’t available for comment after a call to his office.

Thai Vegetable Oil Pcl (TVO) , the nation’s largest soybean supplier, lost 1.9 percent to 20.20 baht, the steepest decline since May 16. Soybean futures for July delivery yesterday fell 2.4 percent in Chicago, the biggest drop for a most-active contract since May 11.

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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