Acer, Manila Electric, Posco, Petron, Turbo: 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.

Acer Inc. (2353 TT): The world’s second-largest computer supplier posted a 63 percent increase in first-quarter net income to NT$3.29 billion ($105 million), its strongest profit growth in nine quarters after it overtook Hewlett-Packard Co. to take top spot in the laptop market ahead of its own forecast. The stock fell 1.4 percent to NT$87.80.

Alliance Global Group Inc. (AGI PM): The owner of the fourth-largest Philippine builder said net income last year rose 23 percent to 4.8 billion pesos ($108 million). Consolidated revenues climbed 8 percent to 38.8 billion pesos, 46 percent of which came from its real-estate business, a stock-exchange filing showed. The stock increased 1.8 percent to 5.80 pesos.

AU Optronics Corp. (2409 TT): Taiwan’s second-biggest maker of liquid-crystal displays said its board approved a plan to form a $7 million venture with Haier Group Corp. in Qingdao, Shandong province, the Hsinchu, Taiwan-based company said in an e-mailed statement today. AU will take a 30 percent stake in venture, which will make modules for LCD television screens, it said. The stock gained 1.2 percent to NT$37.05.

Caltex Australia Ltd. (CTX AU): The company scrapped a A$300 million ($288 million) plan to buy 302 service stations from Exxon Mobil Corp. after the Australian Competition and Consumer Commission opposed the deal because it would allow the nation’s biggest oil refiner to raise retail fuel prices. Caltex Australia agreed with Exxon to terminate the agreement they had entered in May last year, the Sydney-based company said. The stock fell 1.5 percent to A$11.58.

China Unicom (Hong Kong) Ltd. (762 HK): China’s second- biggest wireless carrier reported a 68 percent drop in first- quarter profit as the company boosted spending to attract users to its high-speed services. Net income fell to 1.13 billion yuan ($166 million), Unicom said. The company was expected to post profit of 1.25 billion yuan, according to the median estimate of four analysts surveyed by Bloomberg News. The stock dropped 3.2 percent to HK$9.34.

Concrete Engineering Products Bhd. (CEP MK): The Malaysian supplier of building materials said net income in the second quarter ended March 31 fell 35 percent from a year earlier to 1.95 million ringgit ($610,711) after sales declined. The stock fell 4.2 percent to 2.30 ringgit on April 28.

Korea Gas Corp. (036460 KS): The world’s biggest importer of liquefied natural gas expects to post 231.6 billion won ($208 million) in net income on sales of 21.5 trillion won this year. The company based its business plans on an average exchange rate of 1,130 won to the U.S. dollar and oil prices of $77 a barrel, a regulatory filing showed. The stock decreased 0.7 percent to 45,200 won.

Industrial & Commercial Bank of China Ltd. (1398 HK): The world’s largest lender by market value, also known as ICBC, said first-quarter profit rose 18 percent to 41.55 billion yuan as China’s economic recovery boosted demand for credit. That fell short of the 43.6 billion yuan average estimate of five analysts surveyed by Bloomberg. The stock slid 1.1 percent to HK$5.66.

Manila Electric Co. (MER PM): The Philippines’ largest power retailer said first-quarter net income rose 127 percent to 2 billion pesos on higher sales. The stock was unchanged at 173 pesos.

Petron Corp. (PCOR PM): The Philippines’ largest oil company said its board of directors approved the terms of a $350 million loan facility and the creation of a trading subsidiary in Singapore. The company also approved dividends on preferred shares, it said in a statement to the stock exchange. The stock was unchanged at 6.70 pesos.

Posco (005490): South Korea’s largest steel-maker will form a venture with Posco ICT Co. and Seoul Semiconductor Co. to make light-emitting diodes, a stock-exchange filing showed. Posco fell 0.6 percent to 515,000 won. Posco ICT (022100 KS), which offers information technology services, increased 1.3 percent to 8,680 won. Seoul Semiconductor (046890 KS), an electronics-parts maker, increased 4.5 percent to 46,600 won.

    PT Astra International (ASII IJ): Indonesia’s biggest auto retailer said first-quarter net profit rose 61 percent from a year earlier to 3.01 trillion rupiah ($334 million) as sales climbed 38 percent to 29.7 trillion rupiah. Astra advanced 1.2 percent to 46,100 rupiah.

    PT Bank Central Asia (BBCA IJ): Indonesia’s largest bank by market value said first-quarter net income was 1.9 trillion rupiah. Net income for the first quarter of 2009 was 1.63 trillion rupiah, according to Bloomberg data. The stock was unchanged at 5,450 rupiah.

    Turbo-Mech Bhd. (TMB MK): Shares of the Malaysian oil and gas equipment distributor will debut on the Kuala Lumpur stock exchange. The company sold shares at 63 sen each in its initial public offering.

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

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