Bloomberg News

Thailand Stocks: Panjawattana Plastic, Sri Trang, Thai Union

July 11, 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 for a second day, climbing 0.4 percent to 1,208.67, the highest close since May 8.

Panjawattana Plastic Pcl (PJW) , a maker of plastic packaging products, climbed 1.5 percent to 4 baht, the highest close since May 8. The company plans to spend 566 million baht ($17.8 million) to build two new buildings and buy machinery at its plants in Chonburi and Samutsakorn provinces, it said in in a regulatory filing.

Sri Trang Agro-Industry Pcl (STA) , Thailand’s largest rubber producer, fell 1.4 percent to 14.30 baht. Rubber futures lost 1.3 percent to end at 244.4 yen a kilogram ($3,081 a metric ton) on the Tokyo Commodity Exchange, the lowest settlement level for the most-active contract since June 29.

Thai Union Frozen Products Pcl (TUF) , Thailand’s largest seafood exporter, gained 1.3 percent to 76.25 baht, its second day of gains. Thai Union may buy companies in Europe and the U.S. as the global economic slowdown spurs consolidation, President Thiraphong Chansiri said in an interview on July 9. The company plans to increase its revenue to $5 billion by the end of 2015 from $3.2 billion last year by boosting sales in Europe and the U.S., its two biggest markets, he said.

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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