LH stock rises as LHSC dips in wake of shooting
In the wake of the mass-shooting in Nakhon Ratchasima (Korat) on Saturday (February 8), LHSC's stock price dropped 0.53 per cent today (February 11) while that of LH rose by 0.52 per cent.
Terminal 21 Korat, the department store where the incident occurred, is owned by Siam Retail Development (SRD).
Land and Houses (LH) is not directly related to SRD, but invested through its subsidiary LH Mall & Hotel (LHMH) in LH Shopping Centres (LHSC) Trust for management right of Terminal 21’s rental areas.
Krungthai Zmico Securities’ analysts said that LH was not affected by the carnage, since LH did not hold SRD shares, while LHMH would be impacted by the rampage to a certain extent.
The revenue LH earned from LHMH’s management averaged at Bt69 million a year, not significant compared to LH's income base of Bt30 billion.
The analysts also advised investors to buy LH at Bt11.90 in 2020. LH stock closed at Bt9.60 today, increasing Bt0.05 with Bt210.33 million in trade value.
Meanwhile, LHSC price decreased to Bt18.80, dropping by Bt0.10, with Bt940,000 million in trade.