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Thailand Stocks: PTT Exploration, PTT Chemical, PTT Aromatics

Feb. 24 (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 fell 13.69, or 1.4 percent, to 977.22, the steepest decline in two weeks.

Jasmine International Pcl (JAS TB), an Internet service provider, climbed 2.7 percent to 1.88 baht, snapping a three-day drop. The company will pay a final dividend of 0.02 baht a share, bringing the total payout for 2010 to 0.04 baht a share. The company didn’t pay a dividend for its operations in 2009, according to data compiled by Bloomberg.

Kulthorn Kirby Pcl (KKC TB), a Thai producer of compressors for refrigerators and air conditioners, slid 12 percent to 7.35 baht, the most since Aug. 16. Kulthorn plans to sell 150 million new shares in a private placement, it said in a regulatory filing today.

PTT Exploration & Production Pcl (PTTEP TB), the nation’s only publicly traded oil explorer, climbed 2.2 percent to 184 baht, the highest close since Nov. 11. Crude oil climbed to the highest level in 30 months in London as Libya’s uprising reduced shipments from Africa’s third-biggest producer.

PTT Chemical Pcl (PTTCH TB), the largest petrochemical maker by market value, dropped 3 percent to 145.5 baht, the most in two weeks. PTT Pcl plans to complete a merger of PTT Chemical and PTT Aromatics & Refining Pcl by August, Norkun Sitthiphong, a board member of the parent company, said today. The merger still requires approval from the companies’ boards, he said.

PTT Aromatics (PTTAR TB), which operates Thailand’s second-biggest refinery, fell 4.5 percent to 37.25 baht. PTT (PTT TB), Thailand’s biggest energy company, gained 0.3 percent to 340 baht.

Tongkah Harbour Pcl (THL TB), a gold producer, dropped 4.7 percent to 0.61 baht, the lowest close since December 1997. Deutsche Bank AG filed a new lawsuit to recover debt owed by one of the company’s units, Tongkah said in a regulatory filing.

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 PTTCH TB <Equity> PTTAR TB <Equity> JAS TB <Equity> KKC TB <Equity> THL TB <Equity>

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