Kia Motors, Petronas, Qisda, STX Offshore: Asia Ex-Japan Equity Preview
The following companies may have unusual price changes today in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Kia Motors Co. (000270 KS): The company’s China venture aims to sell 430,000 units in China next year, Edaily reported, without saying where it got the information. The Korean-language online news provider said the venture may meet this year’s target of 330,000 units. Michael Choo, a spokesman at Kia, declined to comment. Kia Motors rose 2.2 percent to 48,950 won.
Petronas Gas Bhd. (PTG MK): The Malaysian natural gas distributor said second-quarter profit surged 91 percent to 389.1 million ringgit ($122.7 million), boosted by higher gas processing and gas transportation revenue. Petronas Gas declined 1.1 percent to 11.14 ringgit.
Qisda Corp. (2352 TT): The Taiwanese maker of computer peripheral products said it has resolved legal proceedings with the insolvency administrator of BenQ Mobile Holding GmbH & Co. and all parties have agreed to withdraw their lawsuits and waive claims. The stock slid 0.5 percent to NT$20.1.
San Miguel Pure Foods Co. Inc. (PF PM): The Philippine maker of canned meat products said it is studying “the appropriate timing” for a planned share sale to help broaden investor base. The percentage of shares listed in the stock exchange is below the 10 percent requirement and the company “has already initiated steps to ensure compliance,” it said in a disclosure to the stock exchange. San Miguel Pure Foods was unchanged at 780 pesos.
SapuraCrest Petroleum Bhd. (SCRES MK): The oil and gas services provider said its joint venture with Acergy SA has received a $160 million offshore contract from PTTEP Australasia (Ashmore Cartier) Pty to provide offshore transportation and construction services for the Montara Development project. SapuraCrest was unchanged at 2.65 ringgit.
STX Offshore & Shipbuilding Co. (067250 KS): The South Korean shipbuilder said it is in talks with STX Pan Ocean Co. (028670 KS) on possible orders for new vessels. STX Pan Ocean said earlier this month that it plans to spend about $1 billion on new ships. STX Offshore gained 0.9 percent to 22,750 won and STX Pan Ocean, South Korea’s largest bulk-shipping line, increased 0.8 percent to 12,050 won.
Taiwan Semiconductor Manufacturing Co. (2330 TT): The world’s largest custom manufacturer of chips sold NT$763 million of equipment to subsidiary TSMC China Co., according to a statement from the parent company to the Taiwan Stock Exchange. Taiwan Semiconductor fell 1.4 percent to NT$63.4.
-With assistance from Chan Tien Hin in Kuala Lumpur. Editor: Stephen Kleege
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
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