STOCKS NEWS THAILAND-Macquarie raises Amata target price

Thu Nov 22, 2012 4:13am EST

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Macquarie Securities rated Amata Corp Pcl as its top pick in the Thai industrial estate sector and raised the target price to 22 baht from 21 baht, while keeping an 'outperform' rating on the shares.

The broker also raised the company's land sale target to 2,500 rai (4,000,000 square metres) from 1,800 rai based on Amata's strong year-to-date land sale momentum.

Amata's year-to-date land sales up to early November have reached 2,000 rai. The brokerage also added that clients are likely to sign more contracts before year-end.

"We believe the news flow on its land sales toward the year-end will work in favour of Amata's share price and the stock is likely to resume its uptrend," Macquarie said in a research report.

At 0854 GMT, Amata was up 0.66 percent to 15.30 baht, overtaken by its rivals Rojana Industrial Park and Hemeraj Land and Development with a 1.61 percent and 1.27 percent rise at 9.45 baht and 3.20 baht, respectively.

For the company statement, click

(Reporting by Sinsiri Tiwutanond in Bangkok; Editing by G.Ram Mohan; sinsiri.tiwutanond@thomsonreuters.com)

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15:11 STOCKS NEWS THAILAND-Raimon Land up on strong earnings growth hopes

Shares in housing developer Raimon Land rose 1.09 percent to 1.85 baht, having hit 1.87 baht earlier in the session, after Phillip Securities said it expects the company to sustain earnings growth due a strong backlog.

The brokerage rated the shares a 'buy' with a target price of 2.30 baht.

"The average take-up rate for four out of five condo projects in Raimon Land's portfolio scheduled for transfer over the next three years exceeded 70 percent," Phillip said in a note.

It also expects the company to post fourth-quarter revenue of 4.2 billion baht ($136.81 million) based on its backlog.

"The latest backlog also topped 18 billion baht, covering 100 percent and 82 percent of our fourth-quarter and 2013 revenue targets for Raimon Land and reflecting its strong revenue visibility well into 2013," it said.

Phillip also noted that the company is mulling over two more land plots in Bangkok's CBD to develop new condo projects.

"This investment plan would keep its revenue growth going down the road after 2013," it said.

The main Thai index was up 0.35 percent.

1455 (0755 GMT)

For the company statement, click

(Reporting by Sinsiri Tiwutanond in Bangkok; Editing by Sunil Nair; sinsiri.tiwutanond@thomsonreuters.com)

($1 = 30.7 Baht)

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11:38 STOCKS NEWS THAILAND - Thanachart keeps 'overweight' on telecoms sector

Thanachart Securities kept its 'overweight' rating on the telecom sector on hopes that the winners of the 3G auction will be granted their licences by January 2013 after a probe found no evidence of alleged collusion.

A panel set up to investigate alleged price collusion among the three winners in the 3G spectrum auction found no evidence and will forward its final findings to the National Broadcasting and Telecommunications Commission's (NBTC) office on Nov. 30, local newspaper The Nation reported.

The broker said the news helped ease worries over the delayed 3G licences, despite a possible injunction by the Central Administrative Court on a separate inquiry - the worst-case scenario.

"Since the NBTC held the auction in compliance to the law and regulations, we see a low possibility for the worst-case scenario to happen," Thanachart said in a note.

"We are positive that the licensing process will follow through early next year as planned and we maintain our view that 3G will be the key driver in growth for the telecoms industry".

At 0420 GMT, True Corp led its rivals with a 1.74 percent gain at 4.68 baht, followed by a 0.3 percent rise of Total Access Communication, while Advanced Info Service dropped 0.26 percent.

The telecoms subindex was up 0.07 percent.

(Reporting by Sinsiri Tiwutanond in Bangkok; Editing by Jijo Jacob; sinsiri.tiwutanond@thomsonreuters.com)

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