Thailand Stocks: Premier, Thai Metal Trade, Tycoons, Vanachai

Thailand’s SET Index (SET) fell 1.49, or 0.3 percent, to 433.18 at the lunch break, heading for its lowest close since Feb. 4.

Amata Corp. (AMATA) , Thailand’s biggest developer of industrial land, advanced 1.1 percent to 3.58 baht, set for its steepest climb since Feb. 5. The company’s net income in 2008 rose 16 percent to 1.19 billion baht ($33.4 million), or 1.12 baht a share.

Premier Technology Pcl (PT) , an office equipment maker, surged 21 percent to 1.42 baht, making it the best performer in the benchmark SET Index. Premier Technology will pay a dividend of 0.10 baht a share from 2008 earnings, the company said on Feb. 20. At the current price, that would be a yield of 7 percent. The company didn’t pay a dividend the previous year.

Shin Corp. (SHIN TB), the telecommunications holding company partly owned by Singapore’s Temasek Holdings Pte, added 1.7 percent to 18.30 baht. The company’s profit in 2008 rose almost six-fold to 5.65 billion baht, or 1.76 baht a share. The company will pay an interim dividend of 1.25 baht a share for the period between Jan. 1 and April 9 last year.

Thai Metal Trade Pcl (TMT) , a steelmaker, gained 8 percent to 5.40 baht, on course for its biggest advance since May 21. The Bangkok-based company reported net income tripled to 733.4 million baht in 2008 from 231.5 million baht a year earlier. It will pay a dividend of 1 baht a share for its 2008 earnings, compared with a payout of 0.40 baht a share a year earlier.

Thoresen Thai Agencies Pcl (TTA) , the country’s largest shipping company, decreased 1.3 percent, to 14.80 baht, poised for its lowest close since Jan. 23. The company may have a net loss in the second quarter ending March 31 because of lower shipping rates, Thanachart Securities Co. Ltd. wrote in a note today. The brokerage maintained its “sell” rating on the stock.

Tycoons Worldwide Group Pcl (TYCN) , a maker of steel rods and bars, slid 7.3 percent to 4.06 baht. The company said in a filing that it won’t pay a dividend for 2008 due to “the global financial crisis and economic downturn,” the third straight year its omitted such a payout.

Vanachai Group Pcl (VNG) , a maker of wooden board, jumped 6 percent to 1.76 baht, set for its biggest gain since December 2006. The company will pay a dividend of 0.13 baht from 2008 earnings, it said in a filing today. At the current price, that would be equal to a dividend yield of 7.4 percent.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net.

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