Gas Negara, MAA, Rio Tinto, Woori: 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.

Formosa Chemicals & Fibre Corp. (1326) (1326 TT): The producer of petrochemical products sold NT$6 billion ($206.9 million) of five-year unsecured bonds at an interest rate of 1.44 percent to raise long-term funds and to improve its financial structure, the company said in a statement to the Taiwan stock exchange. Formosa Chemicals gained 4 percent to NT$116.

Formosa Plastics Corp. (1301) (1301 TT): Taiwan’s largest diversified company reported first-quarter pretax profit rose 86 percent from a year earlier to NT$16.8 billion, the company’s parent said in a statement. Formosa Plastics climbed 1.9 percent to NT$106.

Fufeng Group Ltd. (546) (546 HK): The maker of corn-based biochemical products is marketing a sale of five-year bonds denominated in U.S. dollars, according to a person familiar with the matter. Fufeng Group retreated 0.9 percent to HK$5.37.

International Container Terminal Services Inc. (ICT) : The largest Philippine port operator signed an agreement with L&T Shipbuilding Ltd. to manage and operate the Kattupalli Container Terminal in Tamil Nadu, India, according to a stock-exchange filing. This will be the company’s first venture in India and is scheduled to start operations in January 2012, the statement said. The stock rose 4.4 percent to 44.95 pesos.

MAA Holdings Bhd. (MAA) : The Malaysian insurer denied a Business Times report that the company may sell 70 percent of its Malaysian Assurance Alliance Bhd. unit to Zurich Insurance Co. for about 1.2 billion ringgit ($396.7 million). Talks for the possible sale of MAA’s unit to Zurich Insurance are still on-going, the company said in a statement. MAA jumped 22 percent to 1.20 ringgit.

MNRB Holdings Bhd. (MNRB) : The Malaysian reinsurance company said it received a short-term revolving credit facility of as much as 120 million ringgit from MIDF Amanah Investment Bank Bhd. The money will be used for working capital as well as to strengthen the balance sheet of its Takaful Ikhlas Sdn. unit, the company said in a statement. The stock rose 2.2 percent to 2.74 ringgit.

PT Perusahaan Gas Negara (PGAS IJ): Indonesia’s biggest gas distributor plans to acquire a gas block in Indonesia to secure supply of the fuel, President Director Hendi Prio Santoso said in Jakarta without providing details. Gas Negara advanced 1.3 percent to 3,850 rupiah.

Rio Tinto Group (RIO AU): The world’s second-biggest mining company by sales obtained a 49.49 percent interest in Riversdale Mining Ltd. (RIV) and increased the offer price for the shares to A$16.50 apiece. The offer period was extended by two weeks to April 20. Rio Tinto slipped 0.1 percent to A$86.10 and Riversdale, which owns thermal and coking coal projects in Mozambique, climbed 0.3 percent to A$16.42.

Samsung Heavy Industries Co. (010140 KS): The world’s second-largest shipyard won a 1.22 trillion won ($1.1 billion) order from a European client to build two drill ships, according to a regulatory filing by the South Korean company. Samsung Heavy gained 3.5 percent to 42,600 won.

Samsung SDI Co. (006400 KS): The South Korean maker of lithium-ion batteries plans to invest 390.5 billion won ($360 million) this year in expanding capacity of the batteries, according to a regulatory filing by the South Korean company. Samsung SDI fell 0.9 percent to 171,000 won.

San Miguel Corp. (SMC) : The largest Philippine food and drinks company may hold a planned share sale next month, President Ramon Ang told reporters. The stock increased 0.8 percent to 171.40 pesos.

Singamas Container Holdings Ltd. (716) (716 HK): The world’s second-biggest maker of shipping containers plans to sell as much as 1.38 billion yuan ($210.9 million) of three-year bonds to yield 4.75 percent, according to a person familiar with the matter. Singamas fell 1.1 percent to HK$3.49.

Taiwan Semiconductor Manufacturing Co. (2330 TT): The world’s largest contract manufacturer of chips lowered its forecast for global chip-industry revenue growth after last month’s Japan earthquake hurt demand, Elizabeth Sun, spokeswoman for the company said. Global chip industry sales, excluding memory products, are expected to climb 4 percent this year, from an earlier forecast of 7 percent, Sun said, citing comments by Chairman and Chief Executive Officer Morris Chang. Taiwan Semiconductor rose 3.1 percent to NT$72.90.

Woori Finance Holdings Co. (053000 KS): South Korea’s third-biggest financial company by market value is aiming to post more than 2 trillion won in net profit this year, spokesman Jeong Joon Beom said by telephone, confirming Chairman Lee Pal Seung’s comments made in an interview with Hankyung Wow TV.

Woori Bank, the lending unit of Woori Finance, is also marketing a sale of as much as $500 million of 10-year subordinated bonds, according to a person familiar with the matter. Woori Finance fell 2.6 percent to 14,800 won.

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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