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Cathay, Daewoo, Gamuda, Woodside: Asia Ex-Japan Equity Preview

By Ian C. Sayson

April 4 (Bloomberg) -- The following companies may have unusual price changes in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.

Advance Information Marketing Bhd. (AIMB MK): The Malaysian software services provider said Petronas Dagangan Bhd. said it ended a contract with one of its customers, Electronic Commerce Technology Sdn. Advance Information provides IT software and maintenance services including call center services to Electronic Commerce, it said in a statement distributed by the stock exchange. The termination will hurt its earnings this year, Advance Information said. The stock rose 5.9 percent to 9 sen.

Caltex Australia Ltd. (CTX AU): The nation’s biggest oil refiner plans to sell $150 million of senior unsecured bonds to refinance debt maturing in July and boost working capital, Standard & Poor’s said. S&P said it rates the notes due 2014 to 2016 at BBB+, the eighth-highest investment grade. The stock advanced 1.1 percent to A$9.15.

Cathay Financial Holdings Co. (2882 TT): Taiwan’s biggest listed financial-services company said its banking unit posted a pretax profit of NT$606 million ($18.2 million) in March. Cathay Financial, which didn’t provide year-earlier comparative figures, gained 5.5 percent to NT$33.85.

Daewoo International Corp. (047050 KS): The South Korean trading company bought the rest of the AD-7 gas field in Myanmar from ONGC Videsh Ltd., Gail India Ltd. (GAIL IN) and Korea Gas Corp. (036460 KS). Daewoo, which previously owned 60 percent of the field, climbed 7.1 percent to 25,700 won. Korea Gas, the world’s biggest buyer of liquefied natural gas, decreased 1.5 percent to 41,750 won.

Fortescue Metals Group Ltd. (FMG AU): Australia’s third- largest iron ore exporter put planned expansions “on hold” amid a cash squeeze and a slump in demand for the steelmaking material, Executive Director Graeme Rowley said. The stock fell 4.2 percent to A$2.50.

Gamuda Bhd. (GAM MK): The Employees Provident Fund, Malaysia’s biggest pension fund, bought 4.6 million shares in Gamuda, lifting its stake in the nation’s second-largest builder to 6.61 percent, a stock exchange filing showed. Gamuda rose 4.9 percent to 2.34 ringgit.

Hyundai Heavy Industries Co. (009540 KS): The world’s largest shipbuilder said it plans to sell 300 billion won ($224 million) in bonds on April 13 to invest in capital equipment that will be used in the production of alternative energy. The stock fell 0.2 percent to 211,000 won.

Lite-On Semiconductor Corp. (5305 TT): The Taiwanese maker of optical components posted a 55 percent decline in first quarter sales to NT$1.30 billion ($39.10 million), according to a stock exchange filing. The stock fell 0.4 percent to NT$12.2.

SciGen Ltd. (SIE AU): The company’s shares have been reinstated for trading in Australia after the Asian of unit of Polish insulin maker Bioton SA filed its delayed annual report. The stock was unchanged at 4.2 Australian cents when it last traded on March 25.

Woodside Petroleum Ltd. (WPL AU): Australia’s second- largest oil and gas producer had its 2009 and 2010 profit forecast cut as much as 6 percent by JPMorgan Chase & Co. because of lower spot liquefied natural gas prices and reduced output. The bank has a “neutral” rating on the stock. The stock rose 2 percent to A$39.88

Zijin Mining Group Co. (2899 HK): China’s largest gold producer will buy an additional 9 percent stake in Jinyi Copper for 17.1 million yuan ($2.5 million), according to a stock exchange filing. The stock decreased 6 percent to HK$5.37.

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

Last Updated: April 3, 2009 16:57 EDT