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Thailand Stocks: Chumporn Palm, United Palm, Seafco, Thanachart

Dec. 29 (Bloomberg) -- Thailand’s SET Index rose 6.26, or 0.6 percent, to 1,034.59 at the 4:30 p.m. close, the highest since Dec. 15.

Palm oil producers: United Palm Oil Industry Pcl (UPOIC TB), Thailand’s second-biggest palm oil producer, lost 1.9 percent to 7.85 baht, the most since Dec. 20. Chumporn Palm Oil Industry Pcl (CPI TB) dropped 1.7 percent to 4.68 baht, the steepest decline since Dec. 8.

Palm oil declined in Kuala Lumpur after reaching a 33-month high yesterday, snapping seven days of gains, as high prices and a slump in exports from Malaysia damped demand.

Seafco Pcl (SEAFCO TB), a provider of civil engineering services, climbed 1.4 percent to 5.05 baht, the largest increase since Dec. 7. The company won contracts for two projects worth a combined 48.4 million baht ($1.6 million), it said in a regulatory filing.

Thanachart Capital Pcl (TCAP TB), a financial group, rose 1.4 percent to 36.25 baht, the highest close since Dec. 17. Thanachart Securities Pcl, Thanachart Capital’s brokerage unit, will merge with Siam City Securities Co. from Jan. 1, 2011, the stock exchange said in a statement yesterday. The business combination comes after Thanachart Bank Pcl, the banking unit of Thanachart Capital, acquired a majority stake in Siam City Bank Pcl, the parent of Siam City Securities, 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: Richard Frost at rfrost4@bloomberg.net

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