Thailand Stocks: Ch. Karnchang, Berli Jucker, PTT Exploration

Nov. 23 (Bloomberg) -- Thailand’s SET Index fell for the first time in four days, declining 9.72, or 1 percent, to 1,009.47 at the 4:30 p.m. close.

Ch. Karnchang Pcl (CK TB), Thailand’s second-largest publicly traded construction company, lost 2.2 percent to 8.8 baht, the lowest since Sept. 15. The company will invest 130 million baht ($4.33 million) in two solar power projects, it said in a statement to the stock exchange today.

Berli Jucker Pcl (BJC TB), a Thai trading company controlled by billionaire Charoen Sirivadhanabhakdi, jumped 5.7 percent to 18.6 baht, the most since Nov. 1. Thai Beverage Can Ltd., a Berli Jucker unit, signed an agreement with Ball Corp. to explore production of beverage cans in Southeast Asia, Berli Jucker said in a regulatory filing.

PTT Exploration & Production Pcl (PTTEP TB), Thailand’s only publicly traded oil explorer, dropped 1.9 percent to 180 baht. PTT Exploration agreed to buy a 40 percent stake in Statoil ASA’s oil sands project in Alberta, Canada for $2.28 billion in the biggest foreign acquisition by a Thai company.

Thoresen Thai Agencies Pcl (TTA TB), Thailand’s biggest shipping company by revenue, climbed 1.5 percent to 21 baht, the steepest advance since Oct. 1. The Baltic Dry Index, a measure of commodity-shipping costs, yesterday rose 1.1 percent, the first increase in almost four weeks, on stronger demand for coal and a smaller ship surplus in the Atlantic Ocean.

True Corp. (TRUE TB), the operator of Thailand’s second-biggest fixed-line phone network, rose 6.6 percent to 6.5 baht, extending yesterday’s 8 percent rally. The company plans to invest 10 billion baht on broadband Internet services between 2011 and 2013, Chief Executive Officer Supachai Chearavanont said yesterday.

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