Thailand Stocks: Better World, GFPT, True Corp., Total Access
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 8.48, or 0.8 percent, to 1,096.95, the steepest decline since March 15.
Better World Green Pcl (BWG) , a provider of waste- management services, slid 21 percent to 1.7 baht, the most since August 2008. The company may issue 320 million new shares and offer investors one new share for each one held, it said today in a regulatory filing.
GFPT Pcl (GFPT) , Thailand’s second-biggest listed producer of chicken meat, rose 2.6 percent to 9.85 baht, the highest close since Aug. 5. It will be a “golden year” for the poultry industry in 2011 on higher chicken prices, Asia Plus Securities Pcl wrote in a report today. Prices of chicken meat in the first quarter jumped 24 percent from the previous quarter, the brokerage said.
True Corp. Pcl (TRUE TB), which operates the nation’s third-largest mobile phone network, dropped 1 percent to 5 baht, the lowest close since April 18. Total Access Communication Pcl (DTAC) , Thailand’s second-biggest mobile phone company, asked Thailand’s Central Administrative Court to issue an injunction to thwart an agreement between state-owned CAT Telecom and True Corp. to provide high-speed mobile-phone services. Total Access asked the court to review the legality of the agreement signed in January, according to a statement to the Thai stock exchange.
Total Access, whose shares were also traded without the right to receive a cash dividend today, declined 2.7 percent to 49 baht. Investors had to own Total Access’s stock before today to receive a payout of 3.21 baht.
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