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Thailand Stocks: Polyplex, Regional Container, Thai Airways

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Feb. 28 (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 2.0, or 0.2 percent, to 987.91. The gauge climbed 2.5 percent this month.

M-Link Asia Corp. Pcl (MLINK TB), a Thai distributor of mobile-phone handsets, slumped 19 percent to 1.31 baht, the biggest drop since October 2008. Net income in 2010 fell 45 percent to 66.5 million baht ($2.2 million).

Property Perfect Pcl (PF TB), a property developer, increased 6.7 percent to 4.48 baht, the largest increase since September 2009. Net income in 2010 rose 36 percent to 550.4 million baht.

Polyplex (Thailand) Pcl, a Thai maker of packaging films controlled by India’s Polyplex Corp., jumped 7.8 percent to 23.5 baht, the most since Feb. 3. Polyplex Corp. has no plan to sell its stake in Polyplex (Thailand) Pcl, the Thai company said in a regulatory filing.

Regional Container Lines Pcl (RCL TB), a sea-cargo shipping company, slid 9.6 percent to 10.4 baht, the most since May 2009. The company was downgraded to “hold” from “buy” by Suppata Srisuk, an analyst at Bualuang Securities Pcl, who cited lower-than-estimated profit from operations in the fourth quarter. Regional Container reported full-year net income of 464.7 million baht in 2010 from a net loss of 3.79 billion baht a year earlier.

Thai Airways International Pcl (THAI TB), the country’s largest carrier, climbed 3.4 percent to 38.5 baht, the steepest advance in two weeks. Tiger Airways Holdings Ltd. and Thai Airways will get a new shareholder for a budget airline the carriers are jointly setting up in Thailand. RyanThai Ltd. will take a 10 percent stake in the new carrier, Tiger Air said in a statement today.

Tropical Canning Pcl (TC TB), a seafood canner, fell 12 percent to 3.06 baht, the biggest drop since May 25. Profit last year slumped 70 percent to 38.9 million baht.

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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