Bank of Ayudhya, Golden Land, Kasikornbank: Thai Equity Preview

Shares of the following companies may have unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.

The SET Index rose 13.08, or 1.2 percent, to 1,089.21. The gauge has gained 2.3 percent this week, a third weekly advance.

Bank of Ayudhya Pcl (BAY) : The commercial bank expects new lending to exceed a growth target of 8 percent in 2011 on demand from corporate and individual borrowers, Krungthep Turakij newspaper reported, citing Chief Executive Officer Mark Arnold. The shares climbed 2.9 percent to 26.5 baht.

Golden Land Property Development Pcl (GOLD) : The property developer raised 1.51 billion baht ($50 million) from a rights offer, it said in a regulatory filing today. Golden Land gained 0.7 percent to 2.94 baht.

Kasikornbank Pcl (KBANK) : Thailand’s third-largest commercial lender by assets had “strong” lending growth in the first quarter as the nation’s expanding economy fueled demand for new loans, Chief Executive Officer Banthoon Lamsam said. The company expects to meet its loan growth target of between 7 percent and 9 percent in 2011, Banthoon told reporters in Bangkok yesterday. Kasikornbank rose 0.4 percent to 132.5 baht.

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

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.