Reuters: Hot Stocks: STOCKS NEWS THAILAND-CPN shares at all-time highs; Maybank Kim raises target

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STOCKS NEWS THAILAND-CPN shares at all-time highs; Maybank Kim raises target Aug 23rd 2012, 05:05 Thu Aug 23, 2012 1:05am EDT Maybank Kim Eng raised the target price of Central Pattana Pcl, Thailand's largest shopping-centre developer, to 62.50 baht from 57 baht, citing strong first-half earnings and solid growth prospects for the second-half. The broker maintained its 'buy' rating on the stock. Central Pattana shares were up 1.4 percent at 54.5 baht, rising at one point to its all-time intraday record of 54.75 baht. Optimism about domestic consumption has helped send the stock 43 percent higher this year. That compared with a 21 percent gain of the broader SET index. "We are keeping our positive view on CPN from the resilient growth. The long-term leases that expire will be changed to short-term 3-year contracts with rental rate increases," it said in a report. "CPN still plans to launch 2-3 new projects each year for a total shopping centre count up from 18 to 30 by 2015 with a 42 percent increase in rental space," it said. For the company earnings statement, click 1154 (0454 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:18 STOCKS NEWS THAILAND-Telecoms shares up after 3G licence auction date confirmed Telecoms shares rose in morning trade after it was reported that the National Broadcasting and Telecommunications Commission (NBTC) had confirmed auction dates for the third-generation (3G) licences on the 2,100 megahertz frequency. NBTC's secretary-general Takorn Tantasit said the board had approved the 3G information memorandum with a majority. The licence auction will be held from Oct. 15-20, 2012. "As expected, progress in the 3G licence auction will be a catalyst for telecoms shares. Thus, we rated the shares in this sector overweight," broker DBS Vickers said in a research note. Shares in Shin Corporation INTUCH.BK led the group having gained 1.82 percent, followed by Total Access DTAC.BK at 1.43 percent, while Advanced Info Service ADVA.BK was up 0.96 percent, and True Corporation TRUE.BK rose 0.48 percent. The main Thai index .SETI was up 0.41 percent. 1109 (0409 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; Editing by Suni Nair; sinsiri.tiwutanond@thomsonreuters.com) Link this Share this Digg this Email Reprints

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