Thailand Stocks: Chumporn, Hemaraj, LPN Development, Thai Air

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 9.45 points, or 0.8 percent, to 1,124.01, the largest decline since July 12.

Chumporn Palm Oil Industry Pcl (CPI TB), a palm oil producer, surged 14 percent to 4.74 baht, the most since February 2009. Net income doubled to 66.4 million baht ($2.23 million) in the second quarter, it said in a regulatory filing. The company plans to spend 624 million baht to build a new plant, it said in a separate statement.

Hemaraj Land & Development Pcl (HEMRAJ TB), a developer of industrial land, dropped 4 percent to 2.42 baht, the largest decrease since July 12. The company was downgraded to “hold” from “buy” at DBS Securities (Thailand) Co., which cited “limited upside” following the stock’s recent gain.

Khon Kaen Sugar Industry Pcl (KSL TB), a sugar producer, jumped 5.1 percent to 16.5 baht, the highest close since January 2008. Khon Kaen expects revenue to jump at least 50 percent in 2012 on output from plants in Cambodia and Laos, the Thai-language Kao Hoon newspaper reported, citing Chief Executive Officer Chamroon Chinthammit.

Chamroon wasn’t available for comment when called at his office in Bangkok today.

LPN Development Pcl (LPN TB), the country’s biggest non-state condominium builder, advanced 1.8 percent to 11.3 baht. Net income in the second quarter climbed 15 percent to 576.5 million baht.

Syntec Construction Pcl (SYNTEC TB), a construction company, fell 4.4 percent to 1.09 baht, the most since July 5. Kempin Siam Co. filed a lawsuit seeking 2.86 billion baht in compensation over a construction contract for a Bangkok hotel, Syntec said in a regulatory filing. The case may not have a significant impact on the company’s operation, it said.

Thai Airways International Pcl (THAI TB), the country’s largest carrier, climbed 1.8 percent to 28.25 baht, the steepest advance since July 21. Thai Airways filled 77 percent of its seats in July, the highest rate in four years, President Piyasvasti Amranand said yesterday.

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