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Thailand Stocks: City Steel, Pico, Tapaco, Thaicom, Shin Corp.

June 14 (Bloomberg) -- Thailand’s SET Index rose for a fourth day, climbing 11.58, or 1.5 percent, to close at 781.13, its highest close since May 6.

City Steel Pcl (CITY TB), a Thai producer of steel products, advanced 2.4 percent to 1.73 baht, the steepest gain since April 20. The company said profit in the three months ended April 30 climbed 26 percent to 21.08 million baht ($649,915).

Pico (Thailand) Pcl (PICO TB), the Thai organizer of marketing activities, jumped 6.4 percent to 2.34 baht, the most since March 19. The company said net income increased 39 percent to 19 million baht in the second quarter ended April 30.

Tapaco Pcl (TAPAC TB), the distributor of plastic parts, rose 7.6 percent to 2.84 baht, its sharpest advance since March 31. The company reported net income in the three months ended April 30 rose almost sevenfold to 11.96 million baht from 1.78 million baht in the same period a year earlier.

Thaicom Pcl (THCOM TB), Thailand’s satellite monopoly, surged 29 percent to 7.05 baht, the biggest increase since February 1998. The government is in talks to buy a stake in the company from Temasek Holdings Pte, Singapore’s state-owned investment company, Sirichoke Sopha, an aide to Prime Minister Abhisit Vejjajiva, said today. The government has assigned the finance ministry to set an appropriate price for the offer, Prime Minister Abhisit Vejjajiva said separately today.

Shin Corp. (SHIN TB), Thaicom’s biggest shareholder controlled by Temasek, gained 8.9 percent to 27.50 baht, the most since October 7.

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

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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