Apollo Food, Daewoo, HTC, Kencana, Sinopec: 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.
Apollo Food Holdings Bhd. (APOF MK): The Malaysian producer of snacks, cakes and confectionery said profit in the second quarter ended Oct. 31 fell 31 percent from a year earlier to 3.95 million ringgit ($1.3 million). Apollo climbed 1.2 percent to 3.42 ringgit.
China Petroleum & Chemical Corp. (386 HK): Asia’s largest oil refiner may reduce 2011 oil-processing volume growth to 8.4 percent, said Oilchem.net, a Shandong-based industry portal, citing an internal meeting at Sinopec, as China Petroleum is known. Sinopec said in March it aimed to increase the volume of crude it processes this year by 11 percent to 203 million tons. The stock gained 2.7 percent to HK$7.37.
HTC Corp. (2498 TT): The world’s largest maker of handsets using Google Inc. and Microsoft Corp. operating systems was raised to “neutral” at Robert W. Baird & Co. and the share- price estimate is NT$1,120. The stock advanced 0.3 percent to NT$900.
Daewoo Engineering & Construction Co. (047040 KS): Korea Development Bank’s fund signed an agreement to buy 121 million shares of Daewoo Engineering, the builder said. Daewoo Engineering slid 2 percent to 12,400 won.
Kencana Petroleum Bhd. (KEPB MK): The Malaysian oil and gas services provider said profit in the first quarter ended Oct. 31 rose 70 percent from a year earlier to 52.4 million ringgit as sales advanced. Kencana climbed 0.9 percent to 2.19 ringgit.
Tracoma Holdings Bhd. (TRAH MK): The Malaysian auto-parts maker said in a statement that Chief Executive Officer Zulkiflee Mohamad has quit. The company didn’t give a reason for the resignation. Tracoma last traded at 10.5 sen on Dec. 10.
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