Reuters: Hot Stocks: STOCKS NEWS THAILAND-Macquarie likes Thai property sector

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STOCKS NEWS THAILAND-Macquarie likes Thai property sector Apr 3rd 2012, 05:56 Tue Apr 3, 2012 1:56am EDT Macquarie Equities Research is positive on the Thai property sector in 2012 and believes it will benefit from a recovery in demand after floods last year. The broker said valuations were fair, with the sector's weighted average 2012 estimated price-to-earnings ratio at 11.6 and 2013 at 9.7 versus the historical mean of 11.6. "We believe the demand side will show a pick-up with an improved take-up rate in 2012. This should be backed by pent-up demand from the flood in the fourth quarter of 2011 and the resumption of organic growth of 4-5 percent per annum," the broker said. The broker said its top picks were Pruksa Real Estate Pcl and Asian Property Development Pcl. It likes Pruksa for the stock's cheap valuation and its prospects for a strong turnaround this year, while Asian Property has a strong market position in the mid-range house segment and an attractive valuation. The property subindex had risen 18.4 percent so far this year, almost in line with the 17.8 percent gain of the broad market Shares in Pruksa and Asian Property have gained 28.5 percent and 29.03 percent this year respectively. 1230 (0530 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Alan Raybould; viparat.jantraprapaweth@thomsonreuters.com) **************************************** 11:04 STOCKS NEWS THAILAND-Rojana Industrial jumps on land buy plan Shares in Rojana Industrial Park Pcl rose nearly 7 percent to 7 baht, the highest since Oct. 7, following its plan to acquire the eastern industrial estate of Pluakdaeng Industrial Park Co., Ltd. Broker DBS Vickers Securities said the acquisition of the industrial land in the eastern part of the country would help the company further expanded its land sales amid rising demand for land in the area with lower risk of flooding. Rojana's industrial estate in the central province of Ayutthaya was hit by severe flooding late last year. For the company statement, click 1053 (0353 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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