Acer, Cathay, Formis, Kumho Tire: 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.
Acer Inc. (2353) (2353 TT): The world’s fourth-largest computer maker appointed Lilia Wang as acting chief financial officer, replacing Tu Che-min, the company said in an e-mailed statement yesterday. Tu, who is being transferred because of health reasons, will become special assistant to the chairman, Acer said. Wang is Acer’s global controller and CFO for the Europe, the Middle East and Africa region. The company hopes to find a replacement over the next four months, according to the statement. The stock retreated 0.7 percent to NT$33.55.
AgriNurture Inc. (ANI) : The Philippine fruit and vegetable grower has yet to set a period to sell bonds and shares as its directors are evaluating the most appropriate way for the company to raise funds, a stock-exchange filing showed. AgriNurture is also preparing the documents needed to list a subsidiary in the Australia Stock Exchange, it said. The stock decreased 2.8 percent to 8.55 pesos.
Berjaya Sports Toto Bhd. (BST) : The Malaysian lottery operator said profit in the first quarter ended July 31 rose 44 percent from a year earlier to 92.1 million ringgit ($29 million), according to a stock-exchange filing. The shares gained 0.9 percent to 4.35 ringgit.
Cathay Pacific Airways Ltd. (293) (293 HK): Hong Kong’s No. 1 carrier plans to accept its first Boeing Co. 747-8 freighter next month after the initial customer for the model rejected two planes. The airline is “satisfied” with its commercial arrangements with Boeing, it said by e-mail. Cathay Pacific slid 0.2 percent to HK$13.10.
Citic Securities Co. (600030 CH): China’s largest brokerage by market value is seeking as much as HK$15.1 billion ($1.94 billion) in a share sale in Hong Kong, according to a prospectus released. The company plans to offer 995.3 million shares from HK$12.84 to HK$15.20 a share. Citic Securities rose 2.6 percent to 12.57 yuan.
Formis Resources Bhd. (FMRB) : The Malaysian software company’s network services unit won a 53.8 million-ringgit contract from Fibrecomm Network (M) Sdn., according to a company statement. Formis was unchanged at 77 sen.
Hong Kong Exchanges & Clearing Ltd. (388 HK): The Hong Kong bourse operator appointed Richard Leung, currently chief technology officer of Chi-X Global Inc., as co-head of its information technology division and senior vice president. Leung will co-head the division with Bill Chow, according to a statement on the stock exchange’s website. The stock retreated 2.6 percent to HK$133.20.
Kencana Petroleum Bhd. (KEPB) : The Malaysian oil and gas services provider’s profit in the fourth quarter ended July 31 rose 54 percent from a year earlier to 63.7 million ringgit, it said in a statement. The shares rose 1.6 percent to 2.57 ringgit.
Kumho Tire Co. (073240 KS): The South Korean tire maker plans to sell 8.15 million new shares to raise 78.7 billion won ($68 million), according to a regulatory filing. Kumho Tire gained 0.8 percent to 12,650 won.
Quanta Computer Inc. (2382) (2382 TT): The world’s largest laptop maker reiterates its guidance for the third quarter and full year as it let go of some workers, the company said in a statement to the Taiwan stock exchange yesterday, without giving details. The company is offering special severance packages to some employees as it adjusts production, the statement said. The stock dropped 2.6 percent to NT$55.50.
Rio Tinto Plc (RIO) : The company’s Rossing uranium mine in Namibia has been served with a strike notice by a labor union for Sept. 23, Jerome Mutumba, a spokesman for the mine, said in an interview. Rio, the world’s second-largest mining company, rose 1 percent to A$69.59.
San Miguel Corp. (SMC) : SMC Global Power Holdings Corp., the company’s energy unit, cut the number of shares it will sell through an initial public offering to between 290 million and 385 million shares, a regulatory filing showed. SMC Global in August sought approval to sell between 300 million and 500 million shares. San Miguel increased 0.8 percent to 123 pesos.
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