Noble stake reduced
Thaweechat Chulangkul, nephew of caretaker Industry Minister Suriya Jungrungreangkit, has sold more than one million shares in Noble Development, reducing his holding in the property firm from 5.18 to 4.85 per cent.
According to a report from the Securities and Exchange Commission, Thaweechat sold 1.48 million shares after gradually buying up the stock since 2004. Following Tuesday's sale, Thaweechat now holds 22.36 million shares.His name first appeared on Noble's shareholder register on April 9, 2004, with a holding of 5.9 million shares, 1.3 per cent. On April 4, 2005, this rose to 4.43 per cent (20.2 million), falling to 3.59 per cent (16.4 million) on May 9, 2005. At April 7, 2006, his stake rose again to 4.81 per cent (21.95 million), before increasing further to 5.18 per cent (23.63 million) on May 9. Meanwhile, KGI Securities (Thailand) said in a recent report that the second-quarter net profits of nine listed property companies were expected to fall by 31 per cent year on year to Bt2.2 billion. It said there would be only three listed developers recording positive net earnings growth: LPN Development, Asian Property and Preuksa Real Estate. KGI expects LPN to record the highest net profit at Bt293 million, while Sansiri is expected to record the sharpest fall in net profit for the quarter.
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