BHP, First Gen, ICBC, LG Chem: 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 noted otherwise.

BHP Billiton Ltd. (BHP AU): The world’s biggest mining company expects a shift toward monthly pricing agreements for iron ore which better reflect the market and the needs of producers and consumers, Mike Henry, president of marketing at the Melbourne-based company, said in an interview at a Steel Business Briefing conference in London. BHP dropped 1.2 percent to A$38.91.

First Gen Corp. (FGEN PM): The largest non-state Philippine power producer was lowered to “hold” from “buy” by ATR KimEng Securities Inc. analyst Laura Dy-Liacco, who kept a 14 peso 12-month share price estimate for the stock. First Gen decreased 3.9 percent to 13.24 pesos.

General Corp. (GCB MK): The Malaysian builder and property group said second-quarter profit rose 69 percent to 41.5 million ringgit ($13.4 million). General Corp. was unchanged at 1.60 ringgit.

Industrial & Commercial Bank of China Ltd. (1398 HK): ICBC said it received the approval from the China Banking Regulatory Commission on its proposed rights issue of A shares and H shares. ICBC dropped 3.2 percent to HK$5.78.

Kumpulan Hartanah Selangor Bhd. (KHSB MK): The Malaysian property group said it agreed to sell 67.2 acres of industrial land to Batam Heights Sdn. for 57.1 million ringgit. Kumpulan Hartanah slid 1.2 percent to 40 sen.

LG Chem Ltd. (051910 KS): South Korea’s largest chemicals maker was chosen by Renault SA to supply lithium-ion car batteries. The Seoul-based company will supply the batteries to France’s second-biggest carmaker for its pure electric vehicle project, which is scheduled to start mass-production next year, LG Chem said in a statement. The contract would be the biggest for LG Chem, it said without disclosing the value. LG Chem added 0.2 percent to 333,500 won.

Subur Tiasa Holdings Bhd. (STH MK): The Malaysian timber group said fourth-quarter profit fell 28 percent to 6.25 million ringgit as revenue declined. Subur rose 3.7 percent to 2.26 ringgit.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net.

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