January 25, 2013 / 9:37 AM / 5 years ago

STOCKS NEWS THAILAND-Siam Cement rises; strong 2013 year seen

Shares in Siam Cement Pcl gained 1.4 percent to 446 baht on expectations of strong earnings growth in 2013, helped by a jump in domestic cement demand.

Siam Cement is expected to report a 122 percent growth in net profit for the fourth quarter and a strong year-on-year profit growth for the next four quarters, said Bualuang Securities.

The company is scheduled to report the fourth quarter earnings next week.

"SCC's earnings outlook for this year represents a transformation from 2012," it said in a report.

The broker has a 'buy' rating on Siam Cement, with a price target of 520 baht.

"The coming chemical spread up-cycle should start in the second half of 2013 ... This uptrend is likely to last until 2016-17 at which point substantial new industry supply is slated to hit the market," it said.

1613 (0913 GMT) (Reporting by Pairat Temphairojana in Bangkok; Editing by Anand Basu)

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13:06 STOCKS NEWS THAILAND-KGI starts CP Foods with 'neutral'

KGI Securities initiated coverage of Charoen Pokphand Foods Pcl with a 'neutral' rating, saying the integrated agro-industrial food firm would benefit from rising food demand, but was cautious of volatility in farm and raw material prices.

The broker set a price target of 36 baht.

At the midsession break of 0530 GMT, shares in Charoen Pokphand Foods were down 0.7 percent at 34 baht. The broader SET index was up 0.37 percent.

"CPF is positioned to benefit from rising food demand spurred by rising per capita consumption and modest population growth," KGI said in a report.

"We advise investors to wait for better signs of recovery in the shrimp business, farm prices and lower raw material costs, before taking a position in CPF," it said.

1256 (0556 GMT) (Reporting by Pairat Temphairojana in Bangkok; Editing by Prateek Chatterjee)

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12:14 STOCKS NEWS THAILAND-Cal-Comp Electronics jumps on earnings hope

Shares in Cal-Comp Electronics Pcl jumped 5 percent to 3.78 baht, climbing at one point to 3.86 baht, on expectations the company would post strong earnings growth this year along with rising demand for consumer electronics.

Maybank Kim Eng Securities projected a 156.3 percent growth in net profit this year to 2.06 billion baht ($69.16 million). Maybank upgraded its rating on the electronics sector to 'overweight'.

"The industry is now moving on an uptrend after increasing wages in China (that) has led many producers to move operational bases back to Thailand, which should be a main Asian hub in the future," the broker said in a report.

Maybank said Cal-Comp was its top pick.

"We expect electronics demand to expand once again in 2013, driven by a recovering world economy with the advent of new technology," it said.

($1 = 29.785 baht)

1155 (0455 GMT) (Reporting by Pairat Temphairojana in Bangkok; Editing by Anand Basu)

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11:10 STOCKS NEWS THAILAND-Krungdhon Hospital surges; rival to buy stake

Shares in Krungdhon Hospital Pcl jumped nearly 30 percent after Bangkok Dusit Medical Services Pcl's subsidiary planned to acquire its shares and will make a tender offer to buy all shares from the market.

Krungdhon shares were up 29.9 percent at 72.75 baht, outperforming a 0.8 percent gain in the healthcare subindex and a 0.4 percent gain in the broader stock market .

Royal Bangkok Healthcare will acquire a 24.94 percent stake in Krungdhon at 55 baht per share, via big lot board on the Thai stock exchange by Jan. 31, and will offer to buy shares in Krungdhon that it does not own at 55 baht each from the market.

For the company statement, click

1106 (0406 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Sunil Nair)

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