Bank Tabungan, Manila Electric, NCB Holdings: 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.
PT Bank Tabungan Negara (BBTN IJ): The Indonesian home loan provider posted a 63.5 percent increase in the third-quarter profit as demand for mortgages increased in Southeast Asia’s largest economy. Bank Tabungan rose 2.8 percent to 2,025 rupiah.
Manila Electric Co. (MER PM): The Philippines’s largest power retailer raised this year’s core profit target to 11.5 billion pesos ($266 million) after earnings excluding one-time items increased 80 percent to 9.2 billion pesos in the first nine months, President Manuel Pangilinan said. The utility plans to build power plants and extend the maturity of its debt, Pangilinan said. The stock increased 3.3 percent to 225 pesos.
NCB Holdings Bhd. (NCB MK): The Malaysian port operator said third-quarter profit fell 9.6 percent from a year earlier to 40.3 million ringgit. NCB was unchanged at 3.66 ringgit.
Taiwan Cooperative Bank (5854 TT): The lender’s President Tsai Chiu-Jung said Taiwan Cooperative plans to form an alliance with Bank of China Ltd. Taiwan Cooperative rose 2.5 percent to NT$22.3.
PT United Tractors (UNTR IJ): Ihe Indonesian company said its sales of heavy equipment rose to 461 units in September from 453 in August and 223 units a year earlier. United Tractors gained 1.7 percent to 21,150 rupiah.
PT Tower Bersama Infrastructure (TBIG IJ): The Indonesian operator of telecommunication towers will start trading today after selling 755 million shares at 2,025 rupiah apiece in an initial public offering this month.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org
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