Thailand Stocks: Bualuang, Krungthai, Polyplex, Thai Capital

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of 10:29 a.m. in Bangkok.

The SET Index rose 7.94, or 0.8 percent, to 975.01.

Bualuang Securities Pcl (BLS TB), a stock brokerage, jumped 10 percent to 20.9 baht, set for the highest close since May 2008. The company will pay a cash dividend of 2.15 baht a share for its 2010 earnings, it said. That more than doubles the payout of 1 baht a share in the previous year. The company will also give investors one free stock for every two existing shares they own, it said.

Krungthai Card Pcl (KTC TB), a lender of consumer loans dropped 3 percent to 12.8 baht, the biggest decline since Jan. 24. The company denied speculation that its parent Krung Thai Bank Pcl will buy shares in Krungthai Card that it doesn’t already own. There have been no discussions between Krungthai Card and Krung Thai Bank on a potential acquisition, it said in a regulatory filing. Krung Thai Bank (KTB TB), which owns 49.5 percent in Krung Thai Card according to data compiled by Bloomberg, rose 3 percent to 17 baht.

Polyplex (Thailand) Pcl (PTL TB), a maker of packaging films, climbed 2.6 percent to 29.25 baht. Profit for the quarter ended Dec. 31 surged to 1.44 billion baht ($47 million) from 259.8 million baht.

Thai Capital Corp. Pcl (TCC TB), a supplier of steel for construction industry, fell 4.7 percent to 4.02 baht, the steepest decline since Jan. 24. The company scrapped a dividend payment for 2010.

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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