Thailand Stocks: PTT Exploration, Sri Trang, Thai Vegetable

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index (SET) rose 0.8 percent to 1,053.04, the highest close since Sept. 9.

Chai Watana Tannery Pcl (CWT) , a Thai maker of leather products for automobiles, jumped 11 percent to 9.5 baht, the highest since May 18. Chai Watana expects revenue to rebound 20 percent after flooding hurt sales in 2011, Krungthep Turakij reported, citing Managing Director Weerapon Chaiteerath. Revenue last year was little changed from 2010, when turnover reached 1.09 billion baht ($34 million), the Thai-language newspaper reported. Weerapon was not available for comment after a call to his office.

PTT Exploration & Production Pcl (PTTEP TB), the country’s only publicly traded oil explorer, added 1.1 percent to 181 baht, the highest since Aug. 3. The company and its units plan to spend $19.6 billion between 2012 and 2016 to develop new and existing projects, it said in a regulatory filing. At present, the company has a total of 41 projects, it said. In a separate statement, the company signed a joint operating agreement with Myanmar Oil for a project in Myanmar.

Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest rubber producer, gained 2.7 percent to 18.9 baht, the highest close since Dec. 13. Sri Trang plans to spend 5.4 billion baht ($170 million) over the next two years to meet increased demand for the material used in tires and gloves, Kitichai Sincharoenkul, the company’s founder and executive director, said in an interview in Bangkok. The company will invest 3.85 billion baht this year and 1.55 billion baht in 2013 to increase the size of plantations and boost output of ribbed smoked rubber, block rubber and medical gloves, he said.

Thai Vegetable Oil Pcl (TVO) , the nation’s largest soybean supplier, increased 2.8 percent to 18.10 baht, the most since Dec. 6. Soybean futures for March delivery advanced 3.1 percent to close at $12.33 a bushel on the Chicago Board of Trade yesterday, the largest gain since Dec. 27.

Total Access Communication Pcl (DTAC) , Thailand’s second-biggest mobile phone company, climbed 1.8 percent to 69.5 baht, halting a two-day decline. The company plans to spend 40 billion baht to expand its third-generation service, the English-language Bangkok Post reported, citing Chief Executive Officer Jon Eddy Abdullah. Abdullah couldn’t be reached for comment at his office.

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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