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Thailand Stocks: LPN, MBK, Siam Commercial Bank, Thai Airways

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July 19 (Bloomberg) -- Thailand’s SET Index rose for a fourth day, climbing 2.86, or 0.4 percent, to close at 830.40, the highest level since May 30, 2008.

LPN Development Pcl (LPN TB), Thailand’s largest non-state condominium developer, rose 2 percent to a record 10.2 baht. The company had its share-price forecast raised to 12 baht from 10 baht at Bualuang Securities Pcl, which said the company will report the “strongest profit growth” compared with its competitors.

MBK Pcl (MBK TB), a Thai operator of shopping malls, climbed 7.2 percent to 96.5 baht, a record close. The company last week sold 3 billion baht of three-year bonds with a coupon rate of 3 percent, it said in a regulatory filing.

Siam Commercial Bank Pcl (SCB TB), the country’s fourth-biggest lender by assets, fell 0.9 percent to 84 baht, the most in two weeks. The bank was downgraded to “neutral” from “outperform” by CIMB-GK Securities analyst Kasem Prunratanamala.

Thai Airways International Pcl (THAI TB), the country’s largest carrier, fell 2.3 percent to 32 baht, the first decline in three days. The airline will borrow 8 billion baht ($247.7 million) from Siam Commercial Bank to fund its expansion, the commercial lender said in an emailed statement today. The loan will mature in seven years, it said.

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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