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Thailand Stocks: PTT Exploration, PTT, SVI, Thai Airways

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Nov. 24 (Bloomberg) -- Thailand’s SET Index fell 3.50, or 0.4 percent, to 1,005.97 at the 4:30 p.m. close. The gauge dropped 1 percent yesterday.

PTT Exploration & Production Pcl (PTTEP TB), Thailand’s only publicly-traded oil explorer, dropped 5 percent to 171 baht, the steepest decline since Nov. 12, 2009. The Australian government is conducting a review of PTT Exploration’s safety procedures following an oil spill, Energy Minister Martin Ferguson said. The review following the 2009 Montara oil spill off the northwest coast may lead to the cancellation of the company’s permits off Australia, he said in parliament today.

PTT Exploration is “confident” an Australian review won’t lead to the revocation of its operating permits, Chief Executive Officer Anon Sirisaengtaksin said today.

PTT Pcl (PTT TB), the parent of PTT Exploration, lost 3.7 percent to 310 baht.

SVI Pcl (SVI TB), a Thai maker of electronic parts, rose 4 percent to 3.16 baht, the highest close since May 2000. SVI expects sales in the fourth quarter to rise by about 25 percent from a year earlier on higher overseas orders. The company will start production of a new plant in December to meet the new demand, Chief Financial Officer Pissamai Saibua said by phone from Bangkok today.

SiS Distribution (Thailand) Pcl, a supplier of computers and equipment, jumped 10 percent to 12 baht, a record close. Kelive Research raised its share-price estimate on the company by 8 percent to 13.5 baht on expectation that higher sales of smart phones will boost earnings.

Thai Airways International Pcl (THAI TB), the country’s largest carrier, climbed 8.8 percent to 49.5 baht, the highest since November 2006. The airline plans to place orders for 37 new aircraft to replace aging planes and expand routes, President Piyasvasti Amranand said.

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

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