Aboitiz Power, GMA, Telsta, Tiger: Asia Ex-Japan Equity Preview
Stock Chart for Aboitiz Equity Ventures Inc (AEV)
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 noted otherwise.
Aboitiz Equity Ventures Inc. (AEV PM): Capital spending at the Philippine company, which owns power plants and ships, will fall to 20 billion pesos this year from more than 30 billion pesos in 2009, President Erramon Aboitiz said. The stock sank 2.8 percent to 17.50 pesos.
Aboitiz Power Corp. (APC PM): The Philippine power producer and distributor will spend 72 billion pesos on new plants from 2011 to 2015, President Erramon Aboitiz said. The stock decreased 3 percent to 16.25 pesos.
GMA Network Inc. (GMA7 PM): The second-biggest Philippine broadcaster may increase its profit growth target from 10 percent after first-quarter earnings exceeded expectations, Chief Financial Officer Felipe Yalong said. Advertisements related to last week’s general election totaled 1.85 billion pesos from January through May 8, Chairman Felipe Gozon said. The stock was unchanged at 6.80 pesos.
GUH Holdings Bhd. (GUH MK): The Malaysian maker of printed circuit boards said first-quarter net income tripled from a year earlier to 12.7 million ringgit on higher sales. GUH fell 0.9 percent to 1.16 ringgit.
Media Prima Bhd. (MPR MK): The Malaysian newspaper publisher and broadcaster said it had a profit of 45.6 million ringgit in the first-quarter compared with a loss of 23.2 million ringgit a year earlier after revenue more than doubled. Media Prima slid 2.3 percent to 2.09 ringgit.
Muda Holdings Bhd. (MUD MK): The Malaysian maker of corrugated cartons said it had a profit of 8.23 million ringgit in the first quarter compared with a loss of 4.7 million ringgit a year earlier after sales increased. Muda dropped 3.2 percent to 90.5 sen.
Telstra Corp. (TLS AU): Chief Executive Officer David Thodey said his first year in the role was “challenging” as he continued talks with the government over a possible sale of Australia’s largest phone company’s fixed-line assets. The shares gained 0.3 percent to A$3.02.
Tiger Airways Holdings Ltd. (TGR SP): The airline signed a three-year agreement with Changi Airport Group to expand its base at the Singapore airport. The carrier said it plans to add at least two aircraft by March 2011, expanding its routes and employees at the Singapore base. The shares dropped 1.7 percent to S$1.77.
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