BYD, Huaneng Power, Kencana Petroleum, Zelan: Asia Ex-Japan Equity Preview
The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
BYD Co. (1211 HK): The Chinese carmaker part-owned by billionaire Warren Buffett’s Berkshire Hathaway Inc. said its earnings and operations won’t be affected after China’s land ministry said seven of its factories will be confiscated. The stock slid 0.7 percent to HK$56.50.
Huaneng Power International Inc. (902 HK): The power producer said domestic power generation jumped 32 percent in the first three quarters of the year from the same period in 2009. Huaneng gained 0.8 percent to HK$4.88.
Kencana Petroleum Bhd. (KEPB MK): The Malaysian oil and gas services provider said it won a 16.4 million-ringgit ($5.3 million) contract from Petronas Carigali Sdn. Kencana added 0.6 percent to 1.70 ringgit.
NV Multi Corp. (NVMC MK): Malaysia’s funeral services operator said its board accepted an offer from Mutual Tactic Sdn. to acquire all its business for 295 million ringgit. Under the offer, the cash proceeds raised from the sale will be distributed to NV Multi’s shareholders, the company said in a statement. NV Multi shares were suspended on Oct. 11. It last traded at 64 sen on Oct. 8.
Zelan Bhd. (ZELN MK): The Malaysian construction company said it sold 3.7 million shares of IJM Corp. (IJM MK) for 19.4 million ringgit or at an average price of 5.24 ringgit a share. Zelan added 1.4 percent to 73.5 sen. IJM rose 0.4 percent to 5.30 ringgit.
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