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Thailand Stocks: Italian-Thai Development, SVI, Thai Yuan Metal

Jan. 18 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok. The SET Index rose 1.35, or 0.1 percent, to 1,024.54.

Italian-Thai Development Pcl (ITD TB), Thailand’s biggest construction company, climbed 2.4 percent to 4.34 baht, the steepest advance since Dec. 30. The company won a contract valued at about $2 billion to build highways in Bangladesh, Krungthep Turakij reported, citing Thai Deputy Commerce Minister Alongkorn Ponlaboot. Italian-Thai and the Bangladesh government will sign a contract today, the newspaper reported. Premchai Karnasuta, Italian-Thai’s president, was unavailable for comment after a call to his office.

SVI Pcl (SVI TB), a Thai maker of electronic parts, gained 3.6 percent to 4.04 baht, the highest close since October 1995. “SVI’s share price rallied to reflect upbeat earnings prospects,” Naree Apisawaittakan, an analyst at Phillip Securities (Thailand) Pcl, said in a report today. The acquisition of a new plant, completed in late 2010, and “brisk sales” will further fuel profit growth, said Naree.

Thai Yuan Metal Pcl (TYM TB), a supplier of steel products, rose 1.8 percent to 0.56 baht, its highest close since Nov. 25. The company expects revenue in 2011 to rise to 10 billion baht ($327 million) from 7 billion baht last year on higher economic growth, Krungthep Turakij reported, citing Managing Director Boonchai Jirapongtrakul.

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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