Siam Cement likely up on court ruling

Siam Cement likely up on court ruling
Published: 06 September 2010

Siam Cement likely to rise as court late yesterday rules almost all of their suspended projects in Map Ta Phut can proceed normally; but PTT Chemical may still be under pressure as license on its project withdrawn.

"Investors may be confused in the case of PTTCH, but the project is small and doesn’t have much of an impact on its earnings as most of its revenues are derived from ethylene products," says Far East Securities analyst Parin Kitchatornpitak. Adds PTT’s gains may be capped by unsettled claim from Indonesian government against PTT Exploration & Production for alleged damage from Montara oil leak last year; PTT Exploration yesterday says it can’t accept claim due to no verifiable evidence to support it.