Thailand Stocks: Advanced Info, Khonburi, Robinson, Univanich
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 9.50, or 0.9 percent, to 1,076.50.
Advanced Info Service Pcl (ADVANC) , Thailand’s biggest mobile phone company, gained 1.6 percent to 96.75 baht. The company said an arbitration tribunal dismissed a case by state- owned TOT Pcl that had sought to force it to pay additional revenue-sharing charges. TOT had been seeking 31.5 billion baht in additional revenue-sharing payments, Advanced Info said in a regulatory filing today.
Khonburi Sugar Pcl (KBS TB), a sugar miller, climbed 4.3 percent to 9.7 baht, extending a 2.2 percent advance on its trading debut on May 27. Raw-sugar prices in New York rose to a one-month high on May 27 on signs of higher demand and an output decline in Brazil, the world’s top producer.
Robinson Department Store Pcl (ROBINS) , Thailand’s largest department store operator by number of outlets, increased 1.6 percent to 31 baht, the highest close in more than 14 years. Robinson will continue its “sustainable growth momentum” in 2011 with higher sales from existing stores and new outlets, Chaiyatorn Sricharoen, an analyst at Bualuang Securities Pcl, wrote in a note to clients today.
Robinson plans to spend at least 2.5 billion baht ($82.5 million) for five new outlets, Vice President Parivat Sopasit said on May 27.
Univanich Palm Oil Pcl (UVAN) , a palm oil producer, added 1.6 percent to 81.75 baht, the highest close since March 9. Templeton Emerging Markets Investment Trust, managed by Mark Mobius, acquired a 5.02 percent stake in Univanich, according to a filing to the Thai Securities and Exchange Commission.
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