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Baht/$ 33.57/60 (Bid/Ask)
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14,050
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IN Brief
COMMODITIES :Shares of Thai Vegetable Oil Plc (TVO), the country's biggest soybean importer, gained the most in almost five years yesterday on speculation that recent declines were overdone and the stock is cheap compared with projected profit.
TVO jumped 12% to close on the Stock Exchange of Thailand at 22.30 baht, in trade worth 151 million baht.
"The stock should rebound as it is very cheap after the recent slide," said Pongrat Ratanatavanananda, an analyst at Bualuang Securities (BLS). "The company will have very strong earnings growth this year on rising demand for soybeans."
BLS estimated that the company's profit more than doubled to 594 million baht in the second quarter and has a has "buy" rating on the stock. TVO is currently trading at a low six times forecast profit of 2.19 billion baht for 2008.
The company's 14-day relative strength index, a measure of how rapidly prices have advanced or dropped, fell to 20 on Wednesday, below the 30 level that some investors take as signal to buy.BLOOMBERG
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B6bn CPF issue
DEBT MARKET :Charoen Pokphand Foods Plc will float six billion baht worth of three- and five-year debentures from Aug 11-14.
The three-year issue has a coupon rate of 5.15%, with the five-year issue priced at 5.7%. Both bonds are rated A+ by Tris Ratings. Subscriptions are available at Bangkok Bank and Kasikornbank branches nationwide. The minimum investment is 100,000 baht.
CPF shares closed yesterday on the Stock Exchange of Thailand at 3.68 baht, up 12 satang, in trade worth 83.45 million baht.
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3.99% TCRB offer
BANKING :Thai Credit Retail Bank has introduced a five-month fixed deposit account paying annualised interest of 3.99% for deposits of 100,000 to 10 million baht. The promotion will run until Sept 8.
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UPOIC shares jump
COMMODITIES :Shares of United Palm Oil Industry Plc (UPOIC) gained the most in a month yesterday after the company after announced a higher profit and increased its dividend payment.
UPOIC climbed 1.50 baht to close at 77.50 baht, in trade worth 5.5 million baht.
The palm oil planter's net profit rose 44% to 191 million baht in the second quarter. It will pay an interim dividend of four baht a share for the first half, double the first-half payment last year.BLOOMBERG
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Rojana rated A-
FINANCE :Tris Rating has affirmed the company rating of Rojana Industrial Park Plc at A- with a stable outlook. The rating reflects Rojana's proven record in industrial property development, reliable income from electricity and utilities sales, and strong support from its Japanese partner. The rating also takes into consideration the volatile nature of the industrial property market and the current slowdown of the Thai economy.
The stable outlook reflects the expectation that Rojana will be able to maintain its market position. The power plant is expected to generate reliable cash flow to offset fluctuations in land sales. Though leverage will remain high over the next two years, the total debt-co-capitalisation ratio is expected to below 60% in the medium term.
ROJANA shares closed yesterday on the SET at 12.90 baht, down 10 satang, in trade worth 482,000 baht.
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TG edges SIA
AVIATION :Thai Airways International has edged Singapore Airlines (SIA) as the top choice for business travellers in the Asia-Pacific region, according to a study by MasterCard.
During the last 12 months, 14% of those surveyed picked THAI over 13% who selected SIA and Cathay Pacific, said the MasterCard Travel Index. Nearly 5,400 consumers across 13 Asia-Pacific economies participated in the study.
Hong Kong was the most frequently visited destination for business travel, at 16.1%, followed by India at 14.9% and Thailand at 14.3%.
THAI shares closed yesterday on the Stock Exchange of Thailand at 16.80 baht, up 3.7%, in trade worth 144.64 million baht. dpa
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15-day yield 3.4%
DEBT MARKET :The Bank of Thailand yesterday auctioned 75 billion baht worth of 15-day bills for a weighted average accepted yield of 3.41764%. Accepted bid yields ranged from 3.4% to 3.423%, with the bid coverage ratio 1.85 times.
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