Bina, Polaris, Qantas, San Miguel, Shinsegae: Asia Ex-Japan Stocks 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.
Bina Puri Holdings Bhd. (BIN) : The construction company won a 470.3 million ringgit contract to build the second phase of the KK Times Square project, according to an exchange filing. This will include a tourist arcade and service apartments in Malaysia’s eastern Sabah state, it said. Bina was unchanged at 1.12 ringgit.
Korea Electric Power Corp. (015760) (015760 KS): The nation’s biggest electricity producer forecast the country’s power demand growth may slow to 5.2 percent this year, compared with its projection of 5.5 percent at the end of March, executive Kim Jung In said. The stock jumped 3.6 percent to 21,550 won.
Kuala Lumpur Kepong Bhd. (KLK) : The Malaysian palm-oil producer’s third-quarter net income jumped 78 percent from a year earlier to 432.8 million ringgit, it said in a statement. The stock fell 0.6 percent to 21.10 ringgit.
Mega Financial Holding Co. (2886 TT): Mega International Commercial Bank said it led a group of banks that signed a five-year, $160 million loan for Grand Capital International Ltd. Mega Financial decreased 1.2 percent to NT$25.80.
NiHAO Mineral Resources International Inc. (NI) : The Philippine miner and explorer sold 100 million shares at 2 pesos each to President Jerry Angping, raising funds for asset purchases, a stock-exchange filing showed. The stock advanced 3.2 percent to 3.54 pesos.
Polaris MF Global Futures Co. (6023 TT): Polaris plans to acquire Yuanta Futures Co. in a share swap, with every 1.01 Polaris share to be exchanged for one Yuanta share, the Taiwanese companies said in a joint statement. The deal is expected to be completed on April 1, 2012, it said. Polaris increased 1 percent to NT$37.30. Yuanta Financial Holding Co. (2885 TT) gained 0.6 percent to NT$18.40.
Qantas Airways Ltd. (QAN) : Jetstar Japan, the low-cost carrier formed by Japan Airlines Co., Qantas and Mitsubishi Corp., aims for 100 billion yen ($1.3 billion) in annual sales within a few years, Bruce Buchanan, chief executive officer of Qantas’s Jetstar unit, said. Qantas decreased 0.3 percent to A$1.525.
San Miguel Corp. (SMC) : San Miguel Pure Foods Co. (PF PM) said it completed the payment of 13 billion pesos to parent San Miguel for the purchase of 59.09 million Manila Electric Co. (MER) shares, a Philippine Stock Exchange filing showed. San Miguel increased 0.2 percent to 126.70 pesos. Pure Foods decreased 5.6 percent to 850 pesos on Aug. 2. Manila Electric rose 0.7 to 256.80 pesos.
Shinsegae Food Co. (031440 KS): The South Korean food company posted 10.6 billion won net income in the second quarter on sales of 184.9 billion won, a stock-exchange filing showed. The stock increased 3.1 percent to 85,600 won.
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