AU Optronics, Acer, Bank of China, Sealink: 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.
AU Optronics Corp. (2409 TT): Taiwan’s second-largest maker of liquid-crystal displays posted a 97 percent plunge in third- quarter profit after panel prices fell more than it expected. Net income dropped to NT$227 million ($7.4 million) from NT$7.42 billion a year earlier, the Hsinchu, Taiwan-based company said. The shares were unchanged at NT$30.75.
Acer Inc. (2353 TT): The world’s second-largest computer maker said sales may rise as much as 10 percent this quarter from the prior period, confirming comments by Chief Executive Officer Gianfranco Lanci. Revenue may rise 10 percent to 15 percent in 2011 from 2010, the company said. Acer said it will announce a tablet computer on Nov. 23. Acer fell 0.8 percent to NT$87.
AgriNurture Inc. (ANI PM): The Philippine fruit and vegetable grower plans to venture with the People’s Government of Tiangyang, Guangxi, China for 246 million yuan ($37 million) worth of projects including banana plantation, organic farms and fertilizer production, a stock exchange filing showed. The stock rose 2 percent to 15.70 pesos.
Atlan Holdings Bhd. (ALN MK): The stamped metal components maker and duty-free retailer said second-quarter profit dropped 50 percent to 15.8 million ringgit ($5.1 million). Atlan was unchanged at 3.19 ringgit.
Bank of China Ltd. (3988 HK): The nation’s fourth-largest lender by assets said third-quarter profit gained a more-than- estimated 29 percent to 27.2 billion yuan ($4.1 billion), as economic growth bolstered demand for loans and the lender reduced provisions. Profit beat the 23.9 billion yuan median estimate of nine analysts surveyed by Bloomberg News. The stock fell 0.9 percent to HK$4.56.
Cepatwawasan Group Bhd. (CWG MK): The Malaysian oil-palm grower said third-quarter net income surged to 8.63 million ringgit from 3.34 million ringgit a year earlier as sales gained. The stock dropped 0.8 percent to 1.33 ringgit.
Kretam Holdings Bhd. (KHP MK): The Malaysian palm oil producer said it agreed to buy Pupuk Borneo Sdn., a manufacturer of compound fertilizers, for 8.3 million ringgit. Kretam slid 1.1 percent to 1.85 ringgit.
Naim Holdings Bhd. (NHB MK): The construction company said its NCSB Engineering Sdn. unit won a 168.8 million-ringgit building contract from Jabatan Kerja Raya in Sarawak state. Naim climbed 0.3 percent to 3.45 ringgit.
Sealink International Bhd. (SELI MK): The Malaysian builder and operator of offshore marine vessels said it secured contracts for the sale of two offshore support vessels valued at 67 million ringgit. The vessels are expected to be delivered by the fourth quarter, Sealink said in a statement. Sealink added 4.1 percent to 64 sen.
Tanjung Offshore Bhd. (TOFF MK): The oil and gas services provider said it received a 22 million-ringgit contract from Petronas Carigali Sdn. to supply a tug and utility vessel. Tanjung was unchanged at 1.63 ringgit.
Woori Finance Holdings Co. (053000 KS): South Korea’s third-largest financial company by market value, posted quarterly profit that beat analysts’ estimates, helped by wider loan margins and sales of stakes in other companies. Net income rose 5.1 percent to 508.7 billion won ($451 million) in the three months ended Sept. 30 from 483.8 billion won a year earlier, the company said in a regulatory filing. That beat the 370.9 billion won average of 11 analysts’ estimates compiled by Bloomberg in the past 28 days. Woori was unchanged at 14,600 won.
To contact the editor responsible for this story: Linus Chua at email@example.com.