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Thailand Stocks: Bangkok Metro, Chiang Mai, Singer, Thai Air

Thailand’s SET Index (SET) rose 0.72, or 0.2 percent, to 432.66 at the lunch break. The measure has dropped 0.5 percent this week and lost 1.2 percent in February. The gauge has declined 3.9 percent this year.

Bangkok Metro Pcl (BMCL) , Thailand’s sole private subway operator, dropped 8.8 percent to 0.52 baht, set for its lowest close since Jan. 26. Bangkok Metro had a net loss of 1.46 billion baht ($40.5 million) in 2008, its eighth straight annual loss, compared with 1.48 billion baht a year earlier.

Chiangmai Frozen Foods Pcl (CM) , an exporter of frozen vegetables and fruits, gained 6.1 percent to 3.14 baht, heading for its steepest climb since August 2006. Net income rose 42 percent to 142.3 million baht, or 0.41 baht a share, the company said in a filing today. It will pay a cash dividend of 0.30 baht a share and a stock dividend equivalent to 0.10 baht a share, it said. The company paid a cash dividend of 0.30 baht a share a year earlier.

Metrostar Property Pcl (METRO) , a Thai developer, climbed 1.9 percent to 1.05 baht, heading for its steepest advance since Feb. 19. The company had a full-year profit of 347.6 million baht ($9.65 million) in 2008, after a net loss of 95.5 million baht, it said in a filing today.

Singer Thailand Pcl (SINGER) , a Thai retailer of electrical appliances, rose 6.8 percent to 1.26, on course for its highest close since Nov. 18. The company’s net loss last year narrowed to 81.6 million baht from 500.2 million baht a year earlier.

Thai Airways International Pcl (THAI) , the state-controlled carrier, dropped 1.3 percent to 7.50 baht, a third day of declines. Thai Air may slash most of its domestic routes in favor of its discount airline to reduce losses, Transport Minister Sopon Zarum said in Bangkok today. Nok Air Co. may take over the unprofitable domestic routes that Thai Air vacates, according to a government proposal.

Thai Central Chemical Pcl (TCCC) , a Thai fertilizer maker, slid 9.9 percent to 5 baht, set for its steepest decline since Nov. 17. The company will pay a dividend of 0.40 baht a share for its 2008 operation, it said in a statement today. That was lower than the payout of 0.70 baht a share a year earlier.

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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