Thailand Equity Movers: Krung Thai Bank, Singer, Sub Sri Thai
The SET Index (SET) rose 0.3 percent to 1,194.44, extending this week’s advance to 0.4 percent.
Krung Thai Bank Pcl (KTB) , the nation’s second-biggest lender, dropped 2.7 percent to 18 baht, the biggest decline since Jan. 5. Krung Thai, controlled by the central bank’s rescue fund, plans to raise capital for expansion this year, said Krirk Vanikkul, deputy governor at the Bank of Thailand. The bank hasn’t yet proposed the plan to the Financial Institutions Development Fund, Krirk said today.
Singer (Thailand) Pcl (SINGER) , a Thai electrical appliance seller, jumped 10 percent to 9.15 baht, the highest close since September 2003. The company expects first-quarter profit to double, Thai-language Post Today reported, citing Managing Director Boonyong Tansukul. The company will benefit from a rebound in sales following floods last year, the report said. Boonyong wasn’t immediately available for comment after a call to his office.
Sub Sri Thai Pcl (SST) , an operator of warehouses and restaurants, slid 6.6 percent to 21.30 baht, the largest decrease since Jan. 19. The company will offer a 5-for-1 stock dividend, it said in a regulatory filing. The company will also sell 90.4 million new shares to shareholders and other investors, it said.
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