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Thailand Stocks: Hemaraj Land, IRPC, Sri Trang, Thai Rubber

Jan. 17 (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 1.9 percent to 1,056.54, the first advance in three days.

Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, climbed 3.9 percent to 18.5 baht, halting a four-day slide. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) advanced 2.4 percent to 3.36 baht.

Rubber futures rose to a five-week high in Tokyo, extending yesterday’s gain.

Hemaraj Land & Development Pcl (HEMRAJ TB), a developer of industrial land, increased 3.3 percent to 2.52 baht, the highest close since Aug. 3. Hemaraj will post “strong earnings growth” in 2012 and 2013 after its six industrial estates were spared from damage, Chanpen Sirithanarattanakul, an analyst at DBS Vickers Securities (Thailand) Co., wrote in a note today. Hemaraj’s industrial estates “are now preferred locations” for manufacturers, Chanpen wrote.

IRPC Pcl (IRPC), a refiner and petrochemical producer, added 6.2 percent to 4.48 baht, the first gain in five days. PTT Pcl (PTT TB), Thailand’s biggest energy company and IRPC’s largest shareholder, is studying the feasibility of buying an additional 9.5 percent stake in IRPC from the Government Savings Bank, it said in a regulatory filing. PTT increased 2.8 percent to 330 baht, the most since Dec. 1.

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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