Reuters: Hot Stocks: STOCKS NEWS THAILAND-Major Cineplex up on Q2 earnings hopes

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STOCKS NEWS THAILAND-Major Cineplex up on Q2 earnings hopes Jul 11th 2012, 09:53 Wed Jul 11, 2012 5:53am EDT Shares in Major Cineplex Group Pcl touched a one-week high in active trade on expectations the biggest cinema chain operator would post strong second-quarter earnings amid growth in cinema advertising. Major Cineplex shares were up 2.9 percent at 17.7 baht ($0.56), having hit 17.9 baht, with about 7.14 million shares having changed hands, 2.3 times the average full-day volume in the last 30 days. The broader stock market was up 0.2 percent. Advertising expenditure rose 11.4 percent year on year in June, with cinema ads more than doubled, said broker Maybank Kim Eng Securities. Major Cineplex was the broker's top pick among media shares, with a target price of 23.50 baht, it said. "Thai ad industry grew 6.4 percent year on year in the first half with a positive outlook for the second half. This comes from the resilient economic growth, the Olympics, the rising competition in the private sector, more ad space with theatre and hypermarket expansion," it said. "The quarter-on-quarter earnings should remain solid, driven by improving margins with lower film hire costs upcountry, the Mega Bangna opening and the increasing high season ad revenues," it said. 1630 (0930 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 14:27 TOCKS NEWS THAILAND: Shin Corp at record high on dividend, outlook shares in telecoms group Shin Corp Pcl INTUCH.BK hit their all-time high amid hopes of high dividend payouts and positive outlook of its telecoms unit Advanced Info Service Pcl ADVA.BK and satellite operator Thaicom Pcl THCOM.BK. At the midsession break of 0530 GMT, Shin Corp shares were up 1.97 percent at 64.75 baht ($2.05), climbing at one point to 65 baht. They have risen 50.6 percent this year, outperforming a 17.7 percent gain of the broader stock market .SETI. Broker CIMB Securities rated the stock as 'outperform', with a target price of 70 baht. The broker forecast an interim dividend of 2.2 baht per share to be paid in August, citing a management guidance to institutional investors in a roadshow in Malaysia. "Management sounded upbeat on the satellite launch during our 2-day non-deal roadshow in Malaysia," the broker said in a report. "Speculation of a share sale by Temasek which would not affect its fundamentals has led to share price underperformance relative to its proxy Advanced Info Service. This presents a buying opportunity," it said. 1400 (0700 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 12:32 STOCKS NEWS THAILAND: Bumrungrad rebounds on gains from sale of hospital arm Shares in hospital firm Bumrungrad Hospital Pcl BH.BK rose as much as 2.8 percent as a gain on the sale of hospital arm Bangkok Chain Hospital Pcl KH.BK and a good outlook for the medical industry bolstered its earnings potential. Bumrungrad shares were up 2.2 percent at 81.25 baht ($2.57), rebounding from a 3 percent drop on Tuesday amid weakness in hospital shares triggered by losses in Bangkok Chain Hospital. (Full Story) Broker KGI Securities raised its target price for BH to 97 baht from 80 baht, while keeping the 'outperform' rating, reflecting an earnings upgrade and an estimated gain of 611 million baht from the hospital sale to be recorded in the third quarter. "BH is still the key beneficiary of the up-cycle in medical tourism and its earnings growth over the next three years is still superior to those of the market despite no earnings contribution from Bangkok Chain Hospital," it said in a report. "We see the recent divestment in Bangkok Chain Hospital as positive news for BH not a negative since it allows BH to exit from a non-synergic partner with decent gain on divestment," the broker said. 1208 (0508 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.65 baht) Link this Share this Digg this Email Reprints

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