By Berni Moestafa
Nov. 6 (Bloomberg) -- The following companies may have unusual price changes today in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
BHP Billiton Ltd. (BHP AU): The world’s largest mining company said some work on the rail for its $4.8 billion iron ore expansion project in Australia has resumed after a contractor was earlier suspended on safety concerns. BHP declined 1.4 percent to A$36.44.
Ginebra San Miguel Inc. (GSMI PM): The largest Philippine gin-maker posted a 41 percent increase in nine-month operating income to 872 million pesos ($18 million) from the same period a year earlier, parent San Miguel Corp. said in a statement to the stock exchange. The stock gained 1.1 percent to 23 pesos.
GMA Network Inc. (GMA7 PM): The second-largest Philippine television and radio company said third-quarter profit fell 4.3 percent to 788 million pesos from a year earlier as expenses jumped 18 percent on employee bonuses. The company said it will meet its 2.8 billion peso profit target for 2009 and that it may increase ad rates by at least 10 percent next year. The stock was unchanged at 7.80 pesos.
Korean Air Lines Co. (003490 KS): The nation’s biggest carrier said it hasn’t requested that Airbus SAS delay delivery of A380 aircraft. Cho Yang Ho, chairman of Korean Air, made the comment yesterday in Incheon, South Korea. The company has ordered 10 A380 jets, with the first one scheduled to arrive in 2010. Korean Air dropped 1.8 percent to 43,500 won.
Korea Electric Power Corp. (015760 KS): The nation’s biggest electricity producer is among the companies that passed a prequalification bid to build an Indonesian coal-fired power plant, said Bambang Praptono, a director at PT Perusahaan Listrik Negara, Indonesia’s state utility. Korea Electric fell 0.3 percent to 33,450 won.
Lenovo Group Ltd. (992 HK): China’s biggest maker of personal computers said net income rose to $53.1 million in the second quarter ended Sept. 30 from $23.4 million a year earlier. Lenovo rose 1.4 percent to HK$4.44.
San Miguel Corp. (SMC PM): The largest Philippine food and drinks company said nine-month profit rose to 57 billion pesos boosted by the sale of assets. San Miguel Class A shares (SMC PM), which are reserved for Filipinos, climbed 3.1 percent to 66.50 pesos. Its Class B shares (SMCB PM) which have no ownership restrictions, added 2.3 percent to 67 pesos.
Santos Ltd. (STO AU): The Australian explorer seeking to develop a liquefied natural gas project in the state of Queensland said it is in “active” supply talks with potential customers in Asia. “We’re in discussions with Asian customers both for volumes in the first train and volumes that will underpin our second LNG train” or processing unit, David Knox, chief executive of Santos, told reporters in Sydney. Santos fell 0.5 percent to A$14.90.
-With assistance from Ian C. Sayson in Manila. Editor: Stephen Kleege
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
Last Updated: November 5, 2009 15:56 EST
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