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.
Atlan Holdings Bhd. (ALN) : The Malaysian stamped-metal- components maker and duty-free retailer said profit in the first quarter ended May 31 surged almost fourfold to 92.2 million ringgit ($31 million) from 24.2 million ringgit a year earlier after making gains from the sale of land, according to a stock- exchange filing. Atlan was unchanged at 3.32 ringgit.
Elan Microelectronics Corp. (2458) (2458 TT): The Taiwanese designer of integrated circuits plans to buy back 10 million common shares, or 2.4 percent of its outstanding stock, the company said in a statement. It plans to repurchase the stock at between NT$18.20 and NT$49.90 each from July 15 to Sept. 14, it said. Elan increased 3.8 percent to NT$25.90.
Feng Ching Metal Corp. (2061) (2061 TT): The Taiwanese producer of copper wires plans to sell NT$200 million ($6.9 million) of three-year secured domestic convertible bonds at zero coupon to repay bank loans, the company said in a statement to the stock exchange. Feng Ching retreated 0.9 percent to NT$16.80.
First Philippine Holdings Corp. (FPH) : The company will subscribe up to 6 billion pesos ($139.6 million) worth of First Gen Corp.’s preferred shares, a stock-exchange filing showed. The company also said it bought back 681,000 of its own shares at 60.90 pesos each in the open market. First Philippine rose 0.1 percent to 60.90 pesos. First Gen (FGEN PM) decreased 0.4 percent to 15.06 pesos.
HSBC Holdings Plc (5) (5 HK): Europe’s biggest bank appointed Tim Evans as the head of its trade and supply chain for the Middle East and North Africa. Evans was previously the chief operating officer of HSBC’s commercial banking business in the region, the bank said in an e-mailed statement. HSBC climbed 0.1 percent to HK$75.50.
Hua Yang Bhd. (HYB) : The Malaysian property developer proposed a one-for-three bonus share issue to reward investors and improve trading liquidity, according to a company statement. The stock gained 0.6 percent to 1.76 ringgit.
Partner Tech Corp. (3097) (3097 TT): The Taiwanese manufacturer of peripherals such as scanners and card readers signed NT$500 million of three-year syndicated loans with seven banks including Land Bank of Taiwan, the company said in a statement to the local stock exchange. Partner rose 0.5 percent to NT$7.92 when it last traded July 11.
PT Bank Danamon Indonesia (BDMN IJ): The Indonesian lender controlled by Singapore’s Temasek Holdings Pte and Deutsche Bank AG said it plans to sell new shares in a rights offer to bolster capital. Bank Danamon was unchanged at 5,800 rupiah.
PT Medco Energi Internasional (MEDC IJ): Indonesia’s biggest listed oil company will invest $35 million to explore for geothermal energy in the Philippines, Asia Pulse reported, citing Budi Basuki, chief executive at a company unit carrying out the project. Medco was unchanged at 2,300 rupiah.
Robinsons Land Corp. (RLC) : The second-largest Philippine shopping mall operator said it will redevelop its Metro East shopping complex. The stock gained 0.5 percent to 12.86 pesos.
Samsung Electronics Co. (005930 KS): The world’s biggest maker of memory chips said a study found its plants don’t cause cancer, contrary to claims by former factory workers saying they were exposed to chemicals causing leukemia. An investigation conducted by Environ International Corp., commissioned by Samsung a year ago, found no connection between its chip plants and leukemia, Samsung said. The stock retreated 1.4 percent to 831,000 won.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com ALN MK <Equity> CN 2458 TT <Equity> CN 2061 TT <Equity> CN FPH PM <Equity> CN FGEN PM <Equity> CN 5 HK <Equity> CN HYB MK <Equity> CN 3097 TT <Equity> CN BDMN IJ <Equity> CN MEDC IJ <Equity> CN RLC PM <Equity> CN KS <Equity> CN