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STOCKS NEWS THAILAND-Minor Int'l up on robust Q4 earnings; strong outlook
February 22, 2013 / 4:16 AM / 4 years ago

STOCKS NEWS THAILAND-Minor Int'l up on robust Q4 earnings; strong outlook

Shares in Minor International Pcl climbed 2.9 percent to 24.7 baht after the hotel and food chain firm posted better-than-expected quarterly earnings, with strong tourism and domestic consumption supportive to earnings outlook.

The broader SET index was up 0.6 percent.

Minor said its October-December quarter net profit more than doubled to 1.2 billion baht ($40.16 million) due to strong performances of all businesses.

Broker KGI Securities said it planned to upgrade earnings forecasts for 2013 and 2014 by 10-15 percent to reflect the higher-than-expected margin expansion for hotel business and low interest and tax expenses.

Broker Citi Research saw a brighter outlook ahead.

"Ongoing strong tourism, upbeat household sentiment, and its growth strategy suggests a brighter outlook ahead. We look forward to the management meeting on Feb. 28 for its assessment on industry and business outlook as well as its expansion plan," Citi said.

1103 (0403 GMT)

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


09:25 STOCKS NEWS THAILAND-Nomura starts Sansiri with 'buy'

Nomura Equity Research initiated coverage of Sansiri Pcl SIRI.BK with a 'buy' rating and a stock price target of 6 baht, citing the property company's high exposure to landed property and its attractive valuation.

Sansiri shares closed down 1.4 percent at 4.98 baht on Thursday. The stock has risen 41.5 percent so far this year, outperforming the 32 percent rise of the property subindex .SETPR.

"Sansiri is now our top pick in the Thai property sector. We like the stock for its market dominance, high exposure to landed property segment of 40-50 percent and attractive valuation," the broker said in a report.

The stock traded at 12 times forward price-to-earnings multiple versus its peer average of 13 times, with a 2013 dividend yield of 4 percent, the broker said.

0916 (0216 GMT)

Reporting by Viparat Jantraprap in Bangkok, Editing by Anupama Dwivedi

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