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Thailand Stocks: PTT Exploration & Production, PTT, Thai Rayon

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Nov. 25 (Bloomberg) -- Thailand’s SET Index fell 9.55, or 1 percent, to 996.42 at the 4:30 p.m. close, completing a three-day, 2.2 percent decline.

PTT Exploration & Production Pcl (PTTEP TB), Thailand’s only publicly traded oil explorer, lost 1.8 percent to 168 baht, the lowest close since Oct. 8. Moody’s Investors Service placed PTT Exploration on review for a possible rating downgrade, saying that the company’s debt “would rise substantially” after the acquisition of an oil sands project in Canada. PTT Pcl (PTT TB), PTT Exploration’s parent, lost 2.6 percent to 302 baht, the lowest since Oct. 18.

Thai Rayon Pcl (TR TB), a chemical producer, slid 12 percent to 79.5 baht, the most since December 2006. Net income was 303.1 million baht ($10 million) in the three months ended Sept. 30, according to Bloomberg calculations derived by subtracting nine-month earnings from full-year results announced by the company today. That compared with net income of 965.2 million baht in the same period a year earlier, according to data compiled by Bloomberg.

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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