The following companies may have unusual price changes in Asian trading on Oct. 17. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise.
Aboitiz Power Corp. (AP) : The Philippines’ Aboitiz Power and Manila Electric Co. (MER PM) are in talks with creditors to help fund the construction of a 600 megawatt power plant, Aboitiz Power President Erramon Aboitiz said. Aboitiz Power gained 0.7 percent to 29.70 pesos. Manila Electric climbed 2 percent to 246 pesos.
BHP Billiton Ltd. (BHP) : Australian coking-coal mine workers plan to hold stoppages at mines in Queensland on Oct. 19, the Construction, Forestry, Mining and Energy Union said. BHP’s shares fell 2.1 percent to A$36.86.
Boon Koon Group Bhd. (BOKG) : The Malaysian auto-parts manufacturer agreed to sell a 75 percent stake in First Peninsula Credit Sdn. to Hitachi Capital Corp. for 9 million ringgit ($2.87 million), according to a company statement. Boon Koon shares last traded at 46 sen on Oct. 13 before being suspended on Oct. 14.
Daiichi Kigenso Kagaku-Kogyo Co. (4082 JT): The maker of zirconium compounds cut its net-income forecast for the six months ended Sept. 20 by 49 percent to 762 million yen ($9.89 million), saying rising rare-earth prices weighed on the company’s profit. The stock was unchanged at 3,450 yen.
Daiichi Jitsugyo Co. (8059 JT): The machinery trader cut its net-income forecast for the year ending March 31 to 2.3 billion yen from 2.6 billion yen after booking a loss of 551 million yen on its shareholdings. The stock fell 2 percent to 336 yen.
Daisyo Corp. (9979) (9979 JT): The Japanese restaurant chain operator reported a net loss of 3.4 billion yen for the year ended Aug. 31, compared with a net loss of 1.5 billion yen from a year earlier. The company said shortened business hours due to planned blackouts after the March earthquake and the effect of the subsequent nuclear disaster weighed on sales. The stock fell 0.5 percent to 920 yen.
Geely Automobile Holdings Ltd. (175) (175 HK): The unit of the Chinese automaker that owns Volvo Cars said September sales volume rose about 0.5 percent to 32,430 units from a year earlier. The stock sank 7.8 percent to HK$2.01.
Guocoleisure Ltd. (GLL) : The owner of hotels in the U.K., U.S. and Asia said first-quarter net income increased 46 percent from a year earlier to $24.3 million. The stock gained 3.3 percent to 62 Singapore cents.
Hindustan Construction Ltd. (HCC IN): India’s environment ministry denied approving a hill-station township project being developed by the company’s unit Lavasa Corp. near the city of Pune, saying it is yet to meet the Maharashtra state government’s “pre-conditions.” HCC’s shares added 0.5 percent to 28.3 rupees.
Honda Motor Co. (7267 JT): Japan’s second largest carmaker by market value will extend a production halt at two plants in Thailand until Oct. 21. The car and motorcycle plants were closed due to flooding, Tomohiro Okada, a spokesman for the Japanese automaker, said by telephone today. The company has no timeframe for resuming production at the plants, he said. The stock fell 2.4 percent to 2,248 yen.
Korea Line Corp. (005880) (005880 KS), South Korea’s second-largest operator of bulk ships that went into court receivership in February, said Seoul Central District Court approved a revival plan. The shipping company will reduce capital by cancelling shares and sell 16.6 million new shares, according to regulatory filings. The shares fell 3.8 percent to 10,050 won.
LG Electronics Inc. (066570) (066570 KS), the world’s third-largest mobile-phone maker, had its long-term corporate credit and senior unsecured debt ratings cut to “BBB-” from “BBB” by Standard & Poor’s, which cited continued operating losses in the handset and display panel businesses and negative free cash flow. The shares were unchanged at 73,000 won.
Li Ning Co. (2331 HK): The maker and retailer of sports footwear in China said its third-quarter same-store sales grew at “low single digit” from a year earlier. The company also said appointed Lu Ning, former general manager of sales operations at the company, as chief operating offer. The stock tumbled 8.9 percent to HK$6.97.
Rio Tinto Group (RIO AU): Mitsui & Co. will invest an additional A$126 million ($129 million) in an Australian coal mine jointly owned by Rio. Rio shares sank 1.5 percent to A$68.30.
Singapore Exchange Ltd. (SGX) : The operator of the city’s bourse will release its first-quarter results after market close today. The shares lost 0.2 percent to S$6.25.
SM Investments Corp. (SM) : The holding company of Philippine billionaire Henry Sy may have posted a 13 percent to 14 percent growth in third quarter profit from a year ago, Chief Financial Officer Jose Sio said. The company may also invest in power and tourism projects, he said. The stock climbed 1.4 percent to 530 pesos.
Tata Steel Ltd. (TATA) : India’s largest producer sold 1.65 million metric tons in the second quarter, compared with 1.66 million tons a year earlier, according to an e-mailed statement. Sales were 3.24 million tons in the six months ended September, compared with 3.06 million tons a year earlier. Shares lost 3.4 percent to 437.85 rupees.
TRC Synergy Bhd. (TRC) : The Malaysian builder won a 318.9 million-ringgit contract to upgrade the Brunei International airport Terminal, it said in a statement. The company’s shares were unchanged at 60.5 sen.
TSI Holdings Company Ltd. (3608 JT): The clothing maker expects a net loss of 4 billion yen for the year ending Feb. 29. The company, which previously forecast a net income of 1.7 billion yen for the period, cited prolonged economic slowdown and weaker consumer consumption after the March earthquake. The stock fell 0.2 percent to 413 yen.
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