Reuters: Hot Stocks: STOCKS NEWS THAILAND-Maybank raises Tisco price target; shares at record high

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STOCKS NEWS THAILAND-Maybank raises Tisco price target; shares at record high Sep 21st 2012, 09:20 Fri Sep 21, 2012 5:20am EDT Maybank Kim Eng raised its price target on Tisco Financial Group Pcl to 54 baht from 49 baht, while maintaining a 'buy' rating, saying it expected the financial firm to report record quarterly earnings for the July-September quarter. Tisco shares were up 2.3 percent at 45.5 baht, having hit an intraday all-time high of 45.75 baht. The banking subindex gained 0.68 percent, while the broader SET index rose 0.34 percent. The broker forecast third-quarter earnings to rise by 11 percent to 1 billion baht ($32.36 million), boosted by auto hire purchase, SMEs and corporate loans. It said concerns about loans to steel firm Sahaviriya Steel Industries had eased. "Concerns on SSI illiquidity have eased after the SSI announcement of a capital raising and a new financial plan that will relieve the SSI debt repayment capability pressures and liquidity concerns for lenders," the broker said. "In a worst case, TISCO still has 2.2 billion baht in excess reserves that are sufficient to limit any bottomline impact," it said. Plagued by SSI loans, Tisco shares underperformed the banking subindex this year. Tisco was up 20.4 percent in 2012 compared with a 37 percent gain in the banking subindex. 1601 (0901 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 15:29 STOCKS NEWS THAILAND-Thai exchange expects to achieve listing target in 2012 The Stock Exchange of Thailand expects new listings of energy and infrastructure companies and is likely to raise the market capitalisation of its two bourses by a combined 120 billion baht ($3.88 billion) by year-end. The two bourses have seen new listings of around 70 billion baht ($2.27 billion) so far this year, Thai stock exchange president Charamporn Jotikasthira told reporters. The total market capitalisation of the companies listed on the main Stock Exchange of Thailand .SETI was 10.7 billion baht ($346.22 million) year-to-date while that of the Market for Alternative Investment .MAII was 101 million baht ($3.27 million), stock exchange data showed. Star Petroleum Refining Co (SPRC), a joint venture of Chevron Corp CVX.N and Thailand's PTT Pcl PTT.BK, was among the major IPOs earlier set for this year. A senior Thai energy ministry official said early this month the IPO was to be delayed from the third quarter (July-September) to next year as it needed more time to work on the listing plan. (Full Story) 1449 (0749 GMT) (Reporting by Wirat Buranakanokthanasarn and Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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