Thailand Stocks: CP All, Khon Kaen Sugar, Shin, Thai Airways
Asian Marine Services Pcl (ASIMAR) , a Thai shipbuilder, jumped 0.09 baht, or 12 percent, to 0.83, the most since Aug. 14. A court ordered the Royal Thai Navy to refund a fine of 14.4 million baht ($411,664) including interest against the company, it said in a filing to the stock exchange today.
Bangkok Expressway Pcl (BECL) , Thailand's largest private toll-road operator, advanced 0.70 baht, or 5.4 percent, to 13.60, its highest close since Oct. 22. Higher tolls and lower interest rates will probably increase the company's profit by 26 percent in 2009, Kim Eng Securities (Thailand) wrote in a report today.
CP All Pcl (CPALL) , the country's biggest convenience store operator, rose 0.50 baht, or 5.3 percent, to 9.90, completing a four-day, 41 percent gain. The company's rating was raised to ``buy'' from ``accumulate'' by Suttatip Peerasub, an analyst at Kim Eng Securities (Thailand) Pcl, the nation's biggest stock brokerage by trading volume. Completing the sale of an unprofitable unit in China will increase the company's earnings in 2008, Suttatip wrote in a note today, raising the 12- month stock price estimate to 13 baht from 12.80 baht.
C.I. Group Pcl (CIG) , a maker of air-conditioner parts, jumped 0.35 baht, or 24 percent, to 1.79, its biggest advance since Oct. 15. The company plans to spend 75 million baht to buy back as many as 25 million of its own shares, it said in a filing to the stock exchange today.
Khon Kaen Sugar Industry Pcl (KSL) , Thailand's only publicly traded sugar miller, gained 0.75 baht, or 14 percent, to 5.95, the most since Oct. 8, 2007. Raw-sugar futures for March delivery rose 1.3 percent, to 12.18 cents a pound on ICE Futures U.S. in New York, the fifth increase in six sessions. The most- active sugar contract gained 12 percent last week.
Shin Corp. (SHIN TB), a telecommunications holding company controlled by Singapore's Temasek Holdings Pte, advanced 0.60 baht, or 4.1 percent, to 15.10, the highest since Oct. 24. The company's profit in the third quarter probably doubled to 1.5 billion baht, Pongpan Apinyakul, an investment strategist, wrote in a report today.
Thai Airways International Pcl (THAI TB), the nation's biggest carrier, jumped 0.90 baht, or 11 percent, to 8.95, its steepest climb since Nov. 3, 2003. The company may buy back shares after the price tumbled, Krungthep Turakij reported, citing President Apinan Sumanaseni.
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