Thailand Stocks: LPN, MBK, Siam Commercial Bank, Thai Airways
Thailand’s SET Index (SET) rose for a fourth day, climbing 2.86, or 0.4 percent, to close at 830.40, the highest level since May 30, 2008.
LPN Development Pcl (LPN) , Thailand’s largest non-state condominium developer, rose 2 percent to a record 10.2 baht. The company had its share-price forecast raised to 12 baht from 10 baht at Bualuang Securities Pcl, which said the company will report the “strongest profit growth” compared with its competitors.
MBK Pcl (MBK) , a Thai operator of shopping malls, climbed 7.2 percent to 96.5 baht, a record close. The company last week sold 3 billion baht of three-year bonds with a coupon rate of 3 percent, it said in a regulatory filing.
Siam Commercial Bank Pcl (SCB) , the country’s fourth-biggest lender by assets, fell 0.9 percent to 84 baht, the most in two weeks. The bank was downgraded to “neutral” from “outperform” by CIMB-GK Securities analyst Kasem Prunratanamala.
Thai Airways International Pcl (THAI) , the country’s largest carrier, fell 2.3 percent to 32 baht, the first decline in three days. The airline will borrow 8 billion baht ($247.7 million) from Siam Commercial Bank to fund its expansion, the commercial lender said in an emailed statement today. The loan will mature in seven years, it said.
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