March 11 (Bloomberg) -- Thailand’s SET Index rose for a second day, climbing 5.11, or 0.7 percent, to close at 725.95, its steepest advance since March 2.
Temasek-controlled companies: Shin Corp. (SHIN TB), a Thai holding company that’s majority-owned by Temasek Holdings Pte, climbed 1.9 percent to 26.5 baht, a one-week high. Advanced Info Service Pcl (ADVANC TB), the nation’s biggest mobile-phone company, gained 2.3 percent to 79.25 baht, the most since Feb. 12. Thaicom Pcl (THCOM TB), a satellite monopoly, rose 3.1 percent to 4.62 baht, its steepest climb since Jan. 12.
The Supreme Court ruling to seize assets from ex-Thai Prime Minister Thaksin Shinawatra doesn’t impact Shin Corp.’s business because the company isn’t involved in the case, it said in the statement yesterday.
M Link Asia Corp Pcl (MLINK TB), a Thai mobile phone handset distributor, rose 1.6 percent to 1.24 baht, the most since Jan. 7. The company said in a regulatory filing after the market closed yesterday it will pay a dividend of 0.10 baht a share for 2009. It didn’t pay a dividend in the previous year.
Thai Oil Pcl (TOP TB), the country’s largest oil refiner by market value, climbed 4.1 percent to 45 baht, its highest close since Jan. 14, on expectations higher profit from crude oil processing will boost its earnings. Overseas investors are “positive” on Thai Oil’s earnings outlook, Kim Eng Securities Pte wrote in a note today.
Thai Airways International Pcl (THAI TB), the nation’s largest carrier, dropped 1.6 percent to 24.6 baht, a third day of decline. The airline targets a profit of 4.3 billion baht in 2010, Executive Vice President Chokchai Panyayong told reporters in Bangkok today. The earnings will be less than the net income of 7.34 billion baht in 2009.
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