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Thai Banpu Takes ASEAN to the World Stage

Shayne Heffernan
A strong day in the ASEAN markets as a shift in sentiment took over trading, the major ASEAN markets averaged a 1$ gain on the day.

Ebeling Heffernan Strong Buy Banpu took ASEAN to a global level today by buying the 80.1 per cent stock it does not already own in Australia's Centennial Coal for $1.7 billion, in what would be Thailand's biggest overseas acquisition.

Bangkok-based Banpu, which does not operate any coal mines in Thailand, will pay A$6.20 in cash a share, representing a premium of over 40 per cent to Centennial's closing price of $4.42 on 2 July, for the in the Sydney-based miner.

The offer values Centennial Coal at $2.4 billion.

On 5 May 2010, Banpu had acquired a 14.9-per cent stake in Centennial and bought an additional 5 per cent on 16 July, taking its total shareholding in the company to 19.9 per cent.

Centennial is the largest independent coal company in Australia in terms of production and has 9 coal mines in New South Wales. It is a major fuel supplier to the New South Wales energy industry, fuelling approximately 46 per cent of the state's coal-fired electricity.

ASEAN Markets

The shares prices in Singapore rose 24 points or 0. 84 percent on Tuesday with the benchmark Straits Times Index (STI) closing at 2,868.02 points. The overall volume stood at 1.17 billion shares worth 1.20 billion Singapore dollars (about 0.86 billion U.S. dollars).

Gainers led losers by 298 to 123 with another 751 unchanged.

Indonesian shares closed higher on Tuesday, supported by state-own companies' shares amid strong performance of the regional bourses, detikcom online news reported here. The market index closed at 33.344 points (1.16 percent) higher to 2.910.648 with transaction volume of 2.877 billion shares worth 2.659 trillion rupiah (about 293.5 million U.S. dollars).

The Malaysia stock market ended higher here on Tuesday.

The Kuala Lumpur Composite Index (KLCI) was at 1,307.08 up 7.58 points or 0.58 percent, and the Emas was at 8,818.12 up 49.58 points or 0.56 percent. There were 405 gainers, 195 losers and 273 counters traded unchanged.

Turnover increased to 621.99 million shares valued at 970.00 million ringgit Malaysia(302.46 million U.S. dollars).

The Stock Exchange of Thailand (SET)composite index moved up 11.49 points, or 1.43 percent, to close at 815.52 points on Tuesday.

Some 5.90 billion shares worth 28.45 billion baht (about 889 million U.S. dollars) changed hands.

The SET composite index moved up 1.46 points, or 0.18 percent, to close at 804.03 points on Monday.

Vietnam's stock market index, VN-Index, closed at 500. 32 points on Tuesday, down 5.73 points, or 1.13 percent, against the previous trading day.

A total of 52.54 million shares worth 1.46 trillion Vietnamese dong (VND) (76.72 million U.S. dollars) changed hands at the Ho Chi Minh City Stock Exchange. Prices of 27 stocks went up, 195 dropped while 28 remained unchanged.


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