Reuters: Hot Stocks: STOCKS NEWS THAILAND-S Khonkaen surges on profit, dividend hopes

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STOCKS NEWS THAILAND-S Khonkaen surges on profit, dividend hopes May 18th 2012, 05:54 Fri May 18, 2012 1:54am EDT Shares in S. Khonkaen Foods Pcl, a producer of meat products, surged nearly 30 percent on active volume with expectations of a strong earnings outlook for the year and high dividend income from subsidiaries. At the midsession break of 0530 GMT, S. Khonkaen shares were up 29.67 percent at 67.75 baht ($2.15), putting them up nearly 80 percent for the year, compared with a 12 percent rise of the broader market. About 4.2 million shares were traded which was 11.16 times the average volume over the last 30 sessions. The main SET index was down 2.03 percent. "Investors may expect our good earnings along with our strong expansions," CEO Charoen Rujirasopon told Reuters. The company forecast dividend income from subsidiaries of at least 40-50 million baht ($1.27-$1.59 million) this year, similar to last year's, Charoen said. 1241 (0541 GMT) (Reporting by Viparat Jantraprap and Kochakorn Boonlai in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 12:27 STOCKS NEWS THAILAND: Minor International at 1-month low; earnings outlook seen unattractive The country's top listed hotel and fast-food operator, Minor International Pcl MINT.BK, slumped 4.44 percent to its lowest in a month, while second and third quarters' earnings outlook remained unattractive, brokers said. The share price fell to 12.9 baht, having hit 12.8 baht at one point. The broader SET index .SETI was down 1.89 percent. Bualuang Securities said in addition to unattractive profit outlooks for upcoming quarters, the euro zone crisis may also drag down share prices in the near-term. The broker gave the shares a hold rating with a target price of 14.50 baht. However, Bualuang maintained the company's food business was still performing strongly, while its acquired Australian hotel chain, Oaks Hotels & Resorts Limited, would support the company's net profit for the first 5 months of this year. On Thursday, Minor International's vice president for strategic planning Chaiyapat Paitoon said he expected the company's profit and revenue for the second quarter to outperform the previous year's thanks to a rise in the average occupancy rate, while the company also planned to up its room rates by about 12 to 14 percent. 1220 (0520 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) (Editing by Robert Birsel) ($1 = 31.44 baht) (Editing by Michael Perry) Link this Share this Digg this Email Reprints

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