Glow Energy price hits 3-month high

       Glow Energy, a local power producer controlled by Paris-based Suez, gained its most in more than three months in Bangkok trading on speculation a plan to increase capacity would boost profit.
       The stock jumped 5.6 per cent to close at Bt33 on the Stock Exchange of Thailand (SET), its steepest climb since May 19.
       The benchmark SET Index gained 2.1 per cent.
       Glow Energy may raise as much as Bt17 billion over the next two years to fund expansion. The funds, to come from bank loans and the sale of bonds, will help the Bangkok-based company increase its power-generation capacity 67 per cent, said CEO Esa Heiskanen.
       Glow has a very strong outlook, with its clear strategy to expand its power production with new power plants, Songklod Wongchai, an analyst at Finansia Syrus Securities, which has a "buy" recom-mendation on the stock, said by telephone yesterday.
       "Higher production of domestic manufacturers will also boost sales of its power and steam," he said.
       Glow's Heiskanen was not immediately available for comment, because he was in a meeting, said a person who answered his office phone.
       Thailand's economy, the second biggest in Southeast Asia, may grow as much as 3 per cent next year, rebounding from a contraction this year, the government said on August 24.