Thailand Stocks: Bangkok Expressway, CP All, Shin, Thai Air

Thailand's SET Index (SET) rose for the fourth day, gaining 9.01, or 2 percent, to 458.20 at the lunch break in Bangkok, headed for its highest close since Oct. 22. More than three shares climbed for each that dropped.

Asian Marine Services Pcl (ASIMAR) , a Thai shipbuilder, climbed 0.04 baht, or 5.4 percent, to 0.78, set for its highest close since Oct. 22. A court ordered the Royal Thai Navy to pay the company 14.4 million baht ($411,664) including interest, the company said in a filing to the stock exchange today.

Bangkok Expressway Pcl (BECL) , the country's largest private toll-road operator, advanced 0.50 baht, or 3.9 percent, to 13.40, on course for its highest close since Oct. 22. Higher tolls and lower interest rates will probably increase the company's profit by 26 percent in 2009, Kim Eng Securities (Thailand) wrote in a report today.

CP All Pcl (CPALL) , Thailand's biggest convenience store operator, rose 0.50 baht, or 5.3 percent, to 9.90, extending a three-day, 34 percent gain. The company had its rating raised to ``buy'' from ``accumulate'' by Suttatip Peerasub, an analyst at Kim Eng Securities (Thailand) Pcl, the nation's biggest stock brokerage by trading volume. Completing the sale of an unprofitable unit in China will increase the company's earnings in 2008, Suttatip wrote in a note today, raising the 12-month stock price estimate to 13 baht from 12.80 baht.

C.I. Group Pcl (CIG) , a maker of air conditioner parts, jumped 0.33 baht, or 23 percent, to 1.77, on course for its biggest advance since Oct. 15. The company plans to spend 75 million baht to buy back as many as 25 million of its own shares, it said in a filing to the stock exchange today.

Shin Corp. (SHIN TB), a telecommunications holding company controlled by Singapore's Temasek Holdings Pte, advanced 0.80 baht, or 5.5 percent, to 15.30, bound for its largest gain since June 20. The company's profit in the third quarter probably doubled to 1.5 billion baht, Pongpan Apinyakul, an investment strategist, wrote in a report today.

Thai Airways International Pcl (THAI) , the nation's biggest carrier, jumped 0.95 baht, or 12 percent, to 9, poised for its steepest climb since Nov. 3, 2003. The company may buy back shares after the price tumbled, Krungthep Turakij reported, citing President Apinan Sumanaseni.

To contact the reporters 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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