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STOCKS NEWS THAILAND-Toyo-Thai shares jump 5.6 pct on Maybank view
June 24, 2013 / 10:08 AM / 4 years ago

STOCKS NEWS THAILAND-Toyo-Thai shares jump 5.6 pct on Maybank view

Shares in Toyo-Thai Corp Pcl rose 5.6 percent to 38 baht as Maybank Kim Eng Securities maintained its “buy” rating with a 12-month target price of 51.20 baht.

Toyo-Thai Corp is a joint venture between Italian-Thai Development Pcl and Toyo Engineering Corp, a Japan-based engineering company.

Toyo-Thai will issue 80 million new shares, hoping to become a regional integrated engineering, procurement and construction (EPC) firm which could help it win bigger projects abroad and increase its ability to expand, said Maybank.

“In the near term, we expect to see awards for 5 to 7 billion baht, bringing Toyo-Thai jobs in hand to a record high of 30 billion baht or over 100 percent higher than last year,” Maybank said in its report.

According to the research house, Toyo-Thai will have a strong backlog for two to three years. Maybank forecast a 45 percent increase in profit to 798 million baht and a revenue of 1.87 billion baht, a 65 percent increase from last year.

1629 (0929 GMT)

(Reporting by Pairat Temphairojana; Editing by Prateek Chatterjee) ************************************************************

14:54 STOCKS NEWS THAILAND-Airline shares up as tourist arrivals rise

Shares in Thai Airways International Pcl THAI.BK , Asia Aviation Pcl AAV.BK and Nok Airlines Pcl NOK.BK rose on Monday after a broker highlighted an increase in the number of tourists flying into Thailand this year. Thai Airways shares were up 1.67 percent at 24.40 baht after touching 25.25 baht and Nok Airlines stock was up 0.88 percent at 28.75 baht after touching 29.75 baht. However, Asia Aviation was down 0.92 percent at 5.40 baht, after at one point reaching 5.60 baht. “The number of foreigners coming into Thailand has increased 19.04 percent during January to April this year from the previous year according Ministry of Tourism and Sports data,” KGI Securities said in its report. The research house also said the Tourism Authority of Thailand expected to raise its targeted number of foreign tourists coming into Thailand from 24.5 million this year to 30 million by 2015. 1441 (0741 GMT) (Reporting by Pairat Temphairojana; Editing by Anupama Dwivedi) ************************************************************ 14:29 STOCKS NEWS THAILAND-Maybank keeps “buy” on CP All, cites outlook Maybank Kim Eng Securities maintained its “buy” rating on the shares of CP All PCL CPALL.BK, citing expectations of solid second-quarter earnings. CP All’s second-quarter earnings could grow 15 percent year-on-year, driven by 150 new branches and promotions. However, sales in June might come under pressure due to the rainy season, Maybank said in a report. “We expect CP All to consolidate the Makro financial statement from third quarter of 2013, while CP All’s normal operations should remain healthy. We maintain our positive view on CP All based on the long-term growth potential,” it said. Siam Makro MAKR.BK is Thailand’s largest convenience store that was recently acquired by CP ALL. The two companies have combined sales of more than 300 billion Thai baht ($9.66 billion)(Full Story) The research house recommend that investors buy on any weakness in the share price, with a target price at 48 baht. At the midsession break, the shares were up 1.38 percent at 36.75 baht, while the broader SET index was down 0.68 percent. 1415 (0715 GMT) ($1 = 31.0500 Thai baht) (Reporting by Pairat Temphairojana; Editing by Anupama Dwivedi)

Reporting by Pairat Temphairojana

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