June 6, 2012 / 6:41 AM / 7 years ago

STOCKS NEWS THAILAND-Nation Multimedia soars on earnings hopes

Shares in media firm Nation Multimedia Group Pcl pushed higher amid hopes of an earnings turnaround and a possible dividend payout for the first time in eight years.

Nation shares were up 6.1 percent at 1.05 baht ($0.03) at the midsession break at 0530 GMT, putting them up 52 percent for the year, outpacing a 9.1 percent gain of the benchmark SET index.

Kasikorn Securities rated the stock outperform, with target price of 2 baht each.

“After a long and painful period, the group has fully recovered from the 1997 Asian financial crisis. Nation Multimedia Group’s turnaround is mainly being driven by 2 units - Publishing and Broadcasting,” the broker said in a report.

Kasikorn says the Nation’s plan to clear its retained loss via a par reduction to 0.53 baht from 1.0 baht in August will allow the media firm to pay its first dividend since 2004, with a 100 percent payout possible.

1327 (0627 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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12:29 STOCKS NEWS THAILAND: True Corp up on mobile business outlook

Shares in True Corp Pcl TRUE.BK, owner of Thailand’s third-biggest mobile phone network, rose as much as 1.7 percent after the company on Tuesday said it expects its mobile business to break even by the year-end, driven by growth in t hi r d-generation subscribers. (Full Story)

By 0525 GMT, True Corp shares were trading up 0.58 percent at 3.46 baht ($0.11). They climbed at one point to 3.5 baht, reversing a 1.2 percent decline in early trade and the combined 8.1 percent loss of the previous three sessions.

“This is quite an optimistic view compared to our projection and we are still uncertain... In the telecoms sector, we think AIS offers better fundamentals and we like it for high dividend payouts,” said an analyst at KGI Securities.

True has risen 9.6 percent so far this year to Tuesday, underperforming a 26 percent gain by top mobile phone firm Advanced Info Service Pcl ADVA.BK. Second-ranked Total Access Communication Pcl DTAC.BK, gained 10.1 percent during the period.

Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com $1 = 31.65 baht

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