Thailand Stocks: Asia Plus, PTT Global, Sri Trang, Thai Rubber

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 0.7 percent to 1,058.94, the highest close since Sept. 9.

Rubber producers: Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, jumped 6 percent to 19.6 baht, the most since Oct. 25. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) surged 12 percent to 3.84 baht, the largest increase since May 13.

The output of natural rubber from Thailand may increase to 3.5 million metric tons this year from 3.21 million tons in 2011, Apichart Jongskul, secretary-general of the Office of Agricultural Economics, the state forecaster, said today. Rubber futures climbed as much as 2.4 percent to 305.5 yen a kilogram ($3,981 a metric ton), the highest level since Nov. 1, before settling at 305.1 yen on the Tokyo Commodity Exchange.

Stock brokerages: Asia Plus Securities Pcl (ASP) climbed 13 percent to 2.54 baht, the most since Oct. 1, 2010. KGI Securities (Thailand) Pcl (KGI TB) increased 6.4 percent to 2.34 baht. UOB Kay Hian Securities (Thailand) Pcl (UOBKH TB) added 3.6 percent to 3.42 baht.

The Stock Exchange of Thailand plans to boost the daily turnover to as much as 32 billion baht ($1 billion) in 2012 from 29.5 billion baht last year by increasing the number of listed companies, Charamporn Jotikasthira, the bourse’s president, said yesterday.

PTT Global Chemical Pcl (PTTGC) (PTTGC TB), Thailand’s largest petrochemical maker, rose 1.2 percent to 63.5 baht, the highest close since Dec. 9. The company plans to invest 10 billion baht on expansion this year, half of which will be spent on the recently announced acquisition of Perstorp Holding France SAS, Chief Executive Officer Veerasak Kositpaisal said. The company plans to shut one of its aromatic plants for maintenance in March, he said, without giving details.

Shin Corp. Pcl (INTUCH) (INTUCH TB), a holding company controlled by Temasek Holdings Pte, gained 1.2 percent to 44 baht, the highest since Dec. 19. Shin Corp. said Cedar Holdings Ltd., a unit of Temasek Holdings Pte, sold 200 million shares, representing a 6.2 percent stake in the company. About 75 percent of the shares were sold to Thai investors and the rest were sold to Thai NVDR Co., according to a regulatory filing. Cedar now owns about 37.99 percent of Shin, according to the filing.

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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