Reuters: Hot Stocks: STOCKS NEWS THAILAND-Bangkok housing projects up in July, survey shows

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STOCKS NEWS THAILAND-Bangkok housing projects up in July, survey shows Aug 15th 2012, 08:17 Wed Aug 15, 2012 4:17am EDT Thai developers launched more housing projects in Bangkok and surrounding provinces in July than in a month earlier as the flood-hit property market continued to recover, a survey by privately run Agency for Real Estate Affairs (AREA) showed. Thirty-six new housing projects, valued a combined 20.2 billion baht ($642.90 million), were added to the Bangkok property market in July, compared to 27 in June, the real estate agency said. Townhouses accounted for half out of 6,689 new units in the month, condominiums making up 34 percent of the total, single-detached houses representing 11 percent and others for the rest, it said. Around 56,242 new units, valued 151.1 billion baht ($4.81 billion) had came on the market in the first seven months and the agency forecast a total 96,415 new units for the full year 2012, worth 259 billion baht, up 13 percent from 2011, it said. Developers have resumed construction after Thailand's flood crisis in the fourth quarter widely brought down their activities. Key developers in the month included Pruksa Real Estate Pcl , SC Asset Corp Pcl, Lalin Property Pcl , Asian Property Development Pcl and Sansiri Pcl, the agency said. Reflecting the recovery, the property subindex had risen 29.8 percent so far this year, outperforming a 19.3 percent rise of the broader SET index. 1457 (0757 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 10:51 STOCKS NEWS THAILAND-Sahaviriya Steel falls after share sale plan, Q2 loss Shares in Sahaviriya Steel Industries Pcl SSI.BK fell as much as 3.3 percent after the company said it planned to sell new shares to raise finances, triggering concerns over dilution. The company posted a larger-than-expected net loss of 5 billion baht ($159.13 million) for the April-June quarter. It expects to continue to make a net loss this year due to an inventory loss and higher costs at its British operations. (Full Story) Sahaviriya Steel shares were down 1.6 percent at 0.6 baht, falling at one point to 0.59 baht, the lowest since October 2011. The broader index .SETI was down 0.41 percent. The stock was down 15.5 percent in 2012, underperforming a 19.3 percent gain of the SET index. Two out of six analysts tracking the company rated the company at 'buy', two analysts at 'hold' and two at 'strong sell', according to Thomson Reuters StarMine. For the company statement, click (Full Story) (Full Story) 1041 (0341 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 09:49 STOCKS NEWS THAILAND-CIMB raises Ratchaburi Electricity target price CIMB Research raised its target price for Ratchaburi Electricity Generating Holding Pcl RATC.BK to 54 baht from 51 baht, and kept its 'outperform' rating, after the biggest private power producer in Thailand reported better-than-expected earnings. Ratchaburi shares closed down 0.54 percent at 46.25 baht on Tuesday. They have gained 5.1 percent so far in 2012, underperforming a 19.7 percent gain in the broader SET index .SETI. "Ratch's solid second-quarter results not only reflect earnings sustainability and growth but also its shrewd investment in RATCH-Australia Corp (RAC) as it has already recovered 55 percent of its investment," the broker said. "The second-half earnings outlook remains strong on the back of a higher operating rate and RAC's contribution," it said. For the company earnings statement, click (Full Story) 0936 (0236 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.42 baht) Link this Share this Digg this Email Reprints

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