Straits Asia

Straits Asia: Under PTT’s new 5-yr budget, the Thai state oil company has earmarked Bt117b (S$5b) for further investments in its coal & Indon palm oil businesses. Last yr, it invested Bt1b to increase its stake in SAR from 28.7% to 45.6%. The stock has enjoyed a good run recently on the back of soaring coal prices & some broker upgrades. Firm 50-day MA support at $2.53 level presents good buying opportunity.