Asustek, Fraser & Neave, Hon Hai Precision: 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.
Taiwanese tire makers: Companies including Cheng Shin Rubber Industry Co. (2105 TT) and Nan Kang Rubber Tire Co. (2101 TT) may raise product prices by 5 percent next month to reflect higher rubber costs, Apple Daily News reported Feb. 4, citing sources it didn’t identify. Cheng Shin dropped 0.3 percent to NT$64.30. Nan Kang declined 1.2 percent to NT$46.20.
Asustek Computer Inc. (2357 TT) and Gigabyte Technology Co. (2376 TT): The two companies will recall personal computers equipped with flawed Intel Corp. chips, Apple Daily News reported Feb. 3. The measure will reduce Asustek’s revenue this month by more than NT$1 billion ($34 million), the newspaper reported, citing David Chang, the company’s chief finance officer. Gigabyte said in a news release that consumers can contact retail stores about the recall, Apple Daily reported. Asustek gained 1.2 percent to NT$262. Gigabyte decreased 0.2 percent to NT$32.20.
Auswin Holdings Ltd. (AUSW SP): The producer of waterproofing and concrete protection materials said it expects a loss for the six months ended Dec. 31 to have widened from the same period a year earlier, without providing the numbers. The stock was unchanged at 5.5 Singapore cents.
Chimei Innolux Corp. (3481 TT): Sharp Corp. of Japan and Taiwan’s Chimei will supply liquid-crystal display panels to each other in an agreement that will help Sharp lower production costs for smaller panels, the Nikkei newspaper reported on Feb. 4. Sharp will outsource production of 20- to 39-inch supply panels to Chimei, and supply the Taiwanese maker with panels 40 inches or larger by the end of the year, the report said. Chimei advanced 0.6 percent to NT$36.75.
Fraser & Neave Holdings Bhd. (FNH MK): The Malaysian beverage maker said profit in the first quarter ended Dec. 31 rose 38 percent from a year earlier to 107.1 million ringgit ($35 million) as sales gained. The shares slid 0.1 percent to 14.98 ringgit.
Hon Hai Precision Industry Co. (2317 TT): Foxconn Technology Group Chairman Terry Gou said Jan. 30 he expects the company to post growth of 15 percent at “minimum” this year. The stock advanced 0.8 percent to NT$125.
Ireka Corp. (IREKA MK): The Malaysian builder said it won a 27.6 million-ringgit contract to help build a hospital in Vietnam, according to a company statement. The shares rose 2.5 percent to 81 sen on Jan. 25.
Powerchip Technology Corp. (5346 TT): Taiwan’s largest memory-chip maker reported a fourth-quarter net loss of NT$8.33 billion, compared with profit of NT$1.6 billion a year earlier, the Hsinchu, Taiwan-based company said in a Jan. 31 statement. The loss was wider than both analyst estimates compiled by Bloomberg. The stock jumped 6.9 percent to NT$6.99.
Regent Manner International Holdings Ltd. (1997 HK): The company said it and its units recorded sales of $109.1 million in January, up 35 percent from a year earlier. Regent Manner, a service provider to the electronics manufacturing industry, declined 3.2 percent to HK$6.14.
Total Access Communication Pcl (DTAC TB): Thailand’s second-biggest mobile phone company reported net income in 2010 jumped 65 percent to 10.9 billion baht ($355 million), or 4.60 baht a share. The shares gained 3.1 percent to 41 baht.
Wilmar International Ltd. (WIL SP): The world’s No.1 palm- oil trader said it has won approval from the Securities and Exchange Commission of Ghana to buy Benso Oil Palm Plantation Ltd. Wilmar gained 0.9 percent to S$5.43.
Xingye Copper International Group Ltd. (505 HK): The producer of high-precision copper plates said it’s expected to report a “significant” drop in profit for 2010 compared with 2009. The stock slid 1 percent to HK$2.01.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.