Ayala Land, Cahya Mata, Medusa, PTT, Woodside: Asia Ex-Japan Stock 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.

Ayala Land Inc. (ALI PM): The Philippines’ largest builder said it plans to sell as much as 10 billion pesos ($229 million) of notes due longer than five years through a private placement. The company also plans to swap up to 1.8 billion pesos of existing debt for the new notes, part of which will fund capital spending for 2011, it said in a statement. The stock advanced 3.4 percent to 16.04 pesos.

Banco de Oro Unibank Inc. (BDO PM): The biggest Philippine bank by assets will meet this year’s profit target and may borrow funds next year to boost capital, Chairwoman Teresita Sy said. The stock rose 4.6 percent to 56.50 pesos.

Cahya Mata Sarawak Bhd. (CMS MK): The Malaysian construction group said it agreed to form a joint venture to build a hotel and service apartments in Sarawak state at a cost of 380 million ringgit ($120 million). Cahya Mata slid 2.3 percent to 2.61 ringgit.

Cosco Corp. Singapore Ltd. (COS SP): The China-based shipbuilder said its unit Cosco (Dalian) Shipyard Co. won contracts valued at more than $110 million to build three bulk carriers. Deliveries are scheduled for September 2012 and January 2013, it said in a statement to the Singapore exchange. Cosco advanced 2 percent to S$2.06.

Goodway Integrated Industries Bhd. (GII MK): The Malaysian maker of rubber products and retread tires said it signed an agreement with Emirates General Transport and Services Corp. to provide technical support and consultancy services. Goodway will also supply retread products for two years to Emirates General, which is involved in the transportation business and owns more than 9,000 vehicles, it said in a statement. Goodway fell 14 percent to 86.5 sen.

KNM Group Bhd. (KNMG MK): The Malaysian oil and gas services provider and Aveng Ltd. agreed to form a joint venture related to the fabrication of steel products in South Africa. The joint venture will allow KNM to tap Aveng’s strong marketing and networking relationship, the Malaysian company said in a statement. KNM fell 1.9 percent to 2.08 ringgit.

Medusa Mining Ltd. (MML AU): The Australian miner said drilling at the First Hit Vein prospect in the Philippines’ Saugon project confirmed previous results from 2004 and extended the mineralized gold-silver zones. Medusa Mining slipped 0.3 percent to A$6.48.

PTT Pcl (PTT TB): Thailand’s largest energy company plans to cut costs by between 5 billion baht ($166.4 million) and 7 billion baht per year, Chief Operating Officer Prajya Phinyawat said. PTT gained 1.3 percent to 313 baht.

SM Prime Holdings Inc. (SMPH PM): The biggest Philippine shopping mall operator’s stock rating was raised to “buy” from “hold” by Carl Sy, an analyst at Deutsche Bank AG, on expectations low interest rates and company’s “aggressive expansion” in China and the Philippines will boost valuations. SM Prime’s 12-month share price estimate was increased to 12.66 pesos from 10.09 pesos. The stock rose 11 percent to 11.08 pesos.

Taiwan Semiconductor Manufacturing Co. (2330 TT): The world’s largest contract manufacturer of chips expects first- quarter sales will be stronger than the seasonal average, Chairman Morris Chang said. The global made-to-order chip foundry market will climb 14 percent next year, with TSMC’s revenue to outpace that growth, he said. TSMC gained 1.9 percent to NT$64.60.

Wistron Corp. (3231 TT): The Taiwanese computer maker’s board approved a plan to sell up to 60 million new shares through a secondary public offering, and no more than 150 million new shares through the issue of global depositary receipts, according to a company e-mailed statement. The stock fell 0.5 percent to NT$61.50.

Woodside Petroleum Ltd. (WPL AU): Australia’s second- largest oil producer was downgraded to “hold” from “accumulate” by Ray Chantry, an analyst at E.L. & C. Baillieu Stockbroking Ltd. The stock fell 1.6 percent to A$41.29.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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