BANGKOK - Italian-Thai Development Pcl (ITD), Thailand’s biggest construction company by sales, rose to the highest level in more than two years after Japan expressed interest in partnering the company in a Myanmar port project.
The shares climbed 3% to 5.20 baht as of 12.11pm in Bangkok trading, on course for the highest close since November 2010. The stock earlier jumped as much as 5%. Thailand’s benchmark SET Index (SET) added 0.8%.
Japan's government may invest and become the strategic partner in the development of a deepsea port and industrial estate at Dawei in Myanmar, Prime Minister Yingluck Shinawatra said Thursday after meeting Japanese Prime Minister Shinzo Abe in Bangkok. The move will ease concerns about the project’s funding and boost its viability, according UOB Kay Hian Securities (Thailand) Pcl.
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