Thailand Equity Movers: Total Access, Vinythai, Univentures
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. break in Bangkok.
The SET Index slipped 0.34 points, or less than 0.1 percent, to 1,089.94, halting a four-day, 7.9 percent gain.
Total Access Communication Pcl (DTAC) , Thailand’s second-biggest mobile phone company, fell 2.1 percent to 58 baht, set for the steepest decline since June 23. The commerce ministry will ask the police to further investigate the shareholding structure of Total Access to determine whether it is in breach of foreign ownership laws.
The ministry found “some grounds” for further investigation, though it doesn’t have the power to complete the probe, Permanent Secretary for Commerce Yanyong Phuangrach said yesterday. Total Access said in an e-mailed statement that the company is confident it complies with all relevant laws and regulations in Thailand.
Vinythai Pcl (VNT) , a Thai maker of polyvinyl chloride resin, gained 4.1 percent to 17.7 baht, heading for the highest close since April 29. The company was rated “buy” in new coverage at Asia Plus Securities Pcl, which said rising demand from China and Japan will boost the company’s sales. The brokerage has a share-price estimate of 22 baht.
Univentures Pcl (UV) , a property developer and zinc oxide producer, jumped 6.8 percent to 3.14 baht, bound for the largest increase since July 7. Kittiratt Na-Ranong, former president of the Stock Exchange of Thailand and founder of Univentures, is the top candidate for the post of finance minister in Yingluck Shinawatra’s government, Kao Hoon reported, without saying where it obtained the information.
Kittiratt didn’t answer calls or respond to text messages to his mobile phone.
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