Jollibee, San Miguel: Asia Ex-Japan Equity Preview
(Corrects company description in Jollibee item.)
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.
Daewoo Motor Sales Corp. (004550 KS): Daewoo Motor Sales halted sales of Daewoo Bus Corp. vehicles after the South Korean auto retailer’s exclusive sales contract with the bus maker was terminated. Daewoo Motor Sales is negotiating a new contract, according to a regulatory filing. The company said it expects sales to decline about 15 percent from the third quarter of 2010 because of the termination. The shares fell 1.2 percent to 2,120 won.
Jollibee Foods Corp. (JFC PM): Fourth-quarter profit at the largest Philippine restaurant operator increased 16 percent to 944 million pesos from a year earlier, a stock exchange filing showed. Revenue rose 12 percent to 14.93 billion pesos, it said. The stock increased 1.4 percent to 79 pesos.
Luzhou Laojiao Co. (000568 CH): Net income in 2010 rose 30.7 percent to 2.2 billion yuan, according to a statement on the Shenzhen Stock Exchange website. The company’s sales rose 22.9 percent to 5.4 billion yuan, the statement said. Luzhou Laojiao, a Chinese spirit maker, rose 2.2 percent to 44.65 yuan.
Rio Tinto Group (RIO AU): Cyclones in Australia’s Pilbara region will affect shipped tonnage in the first quarter of 2011, the company said in a stock exchange filing. The weather problems, which include the reformation of Tropical Cyclone Carlos, have hampered port operations and train movements, it said. Rio dropped 1.7 percent to A$86.14.
San Miguel Corp. (SMC PM): The nation’s biggest food and drinks company may sell shares in a company it has set up to own all its power generation assets, a stock exchange filing showed. San Miguel Electric Corp. shares may be listed at the nation’s stock exchange “at the appropriate time,” the company said. The stock fell 1.4 percent to 175 pesos.
-- With assistance from Ian Sayson in Manila. Editor: Richard Frost
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