'Shinawatra-linked' share prices take a hit

Economy February 28, 2014 00:00

By Somluck Srimalee
The Nation

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Market capitalisation of stocks allegedly linked to the Shinawatra family dropped by Bt56.81 billion in 10 days after being targeted by the anti-government campaign led by the People's Democratic Reform Committee.

Four relevant stocks were valued at Bt919.93 billion on February 17, but only Bt863.12 billion as of yesterday.

The share prices of the four businesses named by the PDRC leadership as being related to the Shinawatra family – M-Link Asia Corporation, Advanced Info Service (AIS), Shin Corp, and SC Asset Corp – had declined since February 17, the day before the anti-business campaign kicked off.

Shin Corp, which has total paid-up shares numbering 3,206.42 million, recorded a share price of Bt76.25 on February 17, or market capitalisation of Bt244.48 billion. Yesterday its shares were trading at an average of Bt72 or market capitalisation of Bt230.86 billion, down by about 5.57 per cent or Bt13.62 billion.

AIS recorded market capitalisation worth Bt660.02 billion on February 17, with a share price of Bt222. Yesterday’s figures were about Bt618.40 billion Bt208 per share on average. This means its market capitalisation dropped 6.3 per cent or Bt41.62 billion.

SC Asset Corp recorded market capitalisation worth Bt12.77 billion on February 17, with a share price of Bt3.44, dropping to about Bt11.43 billion yesterday with shares trading at an average of Bt3.08. Its market capitalisation dropped by about 10.4 per cent or Bt1.33 billion.

M-Link Asia Corp recorded market capitalisation worth Bt1.87 billion on February 17, with shares trading at Bt3.48 each. Yesterday’s figures were Bt1.65 billion and Bt3.06 per share. Its market capitalisation dropped about Bt226.8 million or 12 per cent in the period.

Meanwhile, the SET Index dropped from 1,332.37 on February 17 to 1,301.38 on February 24, before moving up to close at 1,318.05 yesterday.