Ann Joo, Cnooc, EVA, Fubon, Hyundai Marine: Asia Ex-Japan Equity Preview
The following companies may have unusual price changes in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless otherwise noted.
Ann Joo Resources Bhd. (AJR MK): The Malaysian steelmaker said it posted a profit of 41.5 million ringgit ($13 million) in the first quarter compared with a loss of 38.9 million ringgit a year earlier, helped by higher steel prices and a rebound in demand. Ann Joo lost 1 percent to 2.85 ringgit.
Cepatwawasan Group Bhd. (CWG MK): The Malaysian oil-palm grower said first-quarter net income surged 78 percent to 5.2 million ringgit from a year earlier on higher sales. The stock lost 0.5 percent to 94.5 sen.
Cnooc Ltd. (883 HK): The unit of China’s biggest offshore oil producer said revenue more than doubled in the first quarter to 30.5 billion yuan ($4.46 billion) from 13.95 billion yuan a year earlier after crude prices rebounded and domestic demand surged. The stock fell 1.8 percent to HK$13.50.
Country View Bhd. (CVB MK): The Malaysian property developer said its loss in the first quarter narrowed to 1.73 million ringgit from 2.16 million ringgit a year earlier as sales advanced. The stock last traded on April 7, unchanged at 50 sen.
EVA Airways Corp. (2618 TT): Taiwan’s second-largest carrier said first-quarter net income rose to NT$1.25 billion ($40 million) from NT$200 million a year earlier, the highest three-month profit in more than five years after it flew more passengers and cargo. The stock was unchanged at NT$15.4
Fajarbaru Builder Group Bhd. (FBC MK): The Malaysian builder said net income in the third quarter ended March 31 climbed 23 percent to 6.55 million ringgit from a year earlier on higher revenue. The stock declined 0.9 percent to 1.06 ringgit.
Fubon Financial Holding Co. (2881 TT): Taiwan’s second- largest listed financial-services company plans to sell as much as NT$10 billion of unsecured corporate bonds to help boost working capital, the Taipei-based company said in a stock- exchange filing. The stock sank 2.9 percent to NT$37.50.
Hyundai Merchant Marine Co. (011200 KS): South Korea’s second-largest shipping line said it hasn’t been notified that creditors will seek a restructuring plan. Main creditor Korea Exchange Bank is conducting a regular review of Hyundai Group’s finances, Hyundai Merchant said. The Chosun Ilbo newspaper reported creditors may seek to restructure the industrial group after shipping demand slumped. The stock decreased 7.7 percent to 26,500 won.
Korea Petrochemical Industrial Co. (006650 KS): The company plans to sell 50 billion won ($45 million) of 5.3 percent bonds maturing in 2013, according to data compiled by Bloomberg. The stock increased 0.9 percent to 46,000 won.
Macarthur Coal Ltd. (MCC AU): The Australian coal producer extended the time period for its takeover offer for Gloucester Coal Ltd. (GCL AU) to May 13 from May 6, a stock-exchange filing showed. Macarthur fell 0.9 percent to A$15.90. Gloucester fell 0.6 percent to A$12.10.
Metropolitan Bank & Trust Co. (MBT PM): The second-largest Philippine bank by assets said profit in the first quarter rose 32 percent to 2.5 billion pesos ($56 million). The stock was unchanged at 53.50 pesos.
SM Investments Corp. (SM PM): Profit at the holding company of Philippine billionaire Henry Sy may reach a record 18.5 billion pesos ($413 million) this year after the company said first-quarter net income rose 14 percent to 4.8 billion pesos. “The first quarter accounts for about 26 percent of our annual budget,” Chief Financial Officer Jose Sio said in a briefing yesterday. The stock fell 1.3 percent to 395 pesos.
To contact the reporter on this story: Ian C. Sayson in Manila at firstname.lastname@example.org