Reuters: Hot Stocks: STOCKS NEWS THAILAND-Workpoint at all-time high on ad growth

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STOCKS NEWS THAILAND-Workpoint at all-time high on ad growth Apr 27th 2012, 04:54 Fri Apr 27, 2012 12:54am EDT Shares in entertainment firm Workpoint Entertainment Pcl surged almost 20 percent to an all-time high amid expectations of good earnings boosted by strong advertising growth, brokers said. The stock rose to 33 baht with 9.9 million shares traded, 2.8 times the average full-day volume over the last 30 sessions. "Advertising spending hit a record high in March, and Workpoint was among the main beneficiaries. The ad industry growth implies an earnings upgrade to our current forecast," said Suttatip Peerasub, an analyst at Maybank Kim Eng Securities. Maybank Kim Eng expects the company to post an 18 percent increase in first-quarter profit to 387 million baht ($12.5 million). Broker Kiatnakin Securities said Workpoint may report a 85 percent gain in profit for the January to March period. 1114 (0414 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************** 10:40 STOCKS NEWS THAILAND-Raimon Land falls after private offering Raimon Land Pcl RAIM.BK dropped to its lowest in more than a week after the property developer offered 325 million shares in private offering to two mutual funds at price lower than the prevailing market price. The shares were offered to the investors at 1.4058 baht ($0.05) each, it said in an announcement early on Friday, compared with Thursday's close of 1.86 baht. Its shares dropped 4.8 percent to 1.77 baht, underperforming the broader market .SETI which was up 0.03 percent. For the company statement, click 1023 (0323 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) *************************************************** 09:53 STOCKS NEWS THAILAND-Thanachart cuts target price on Siam Cement Thanachart Securities cut its target price on Siam Cement Pcl SCC.BK, Thailand's biggest industrial conglomerate, to 410 baht ($13.28) from 427 baht ($13.83), reflecting weak first quarter earnings and lower earnings forecast for the full year. The brokerage maintained its buy rating on the stock. "We believe first quarter is the trough and expect results to improve sequentially supported by higher chemical spreads and contribution from associates," the broker said in a research note. On Thursday, Siam Cement shares gained 2.4 percent, to 342 baht, putting them up 9.3 percent for the year. For a related company statement and story, click 0941 (0241 GMT) (Reporting by Viparat Jantraprap; Editing by Richard Borsuk and Ryan Woo) viparat.jantraprapaweth@thomsonreuters.com) ($1 = 30.885 baht) Link this Share this Digg this Email Reprints

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