Thailand Stocks: Amata, Indorama Ventures, Pico, Thai Rubber

Thailand’s SET Index fell 2.53, or 0.2 percent, to 1,033.32 at the 4:30 p.m. close.

Insurance companies: Dhipaya Insurance Pcl (TIP TB) rose 4.6 percent to 22.7 baht, a record close. Bangkok Insurance Pcl (BKI TB), a non-life insurer, rose 1.7 percent to 246 baht. Standard & Poor’s revised its outlook on four Thai insurers to stable after the market close on Dec. 9.

Amata Corp. (AMATA TB), Thailand’s biggest industrial estate developer, rose 4.2 percent to 14.9 baht, its highest close since Nov. 18. Amata will post record earnings in the fourth quarter, and profit may increase 69 percent in 2011 as automakers expand production capacity in Thailand, Kelive Research wrote in a note to clients today.

Indorama Ventures Pcl (IVL TB), a Thai maker of materials for producing plastic bottles and polyester, fell 1.7 percent to 57.25 baht, the most since Dec. 7. The stock was downgraded to “hold” from “buy” at IV Global Securities Pcl.

Pico (Thailand) Pcl (PICO TB), an event-management company, gained 2 percent to 3.04 baht, its biggest gain in two weeks. The company reported fiscal 2010 profit of 49.2 million baht ($1.6 million), compared with a loss of 29.9 million baht a year earlier.

Thai Rubber Latex Corp. Pcl (TRUBB TB), Thailand’s second- biggest publicly traded rubber producer, rose 5.5 percent to 7.65 baht, its biggest gain since Sept. 21. Rubber futures in Tokyo advanced to a record today as rain limited production in Southeast Asia, worsening a supply shortage.

To contact the reporter on this story: Tony Jordan in Bangkok at

To contact the editor responsible for this story: Darren Boey at

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