Amway, GAIL India, Monex, Patni, Tokyo Electric: Asia Equities Preview
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses and share prices are as of the latest close. The information in each item was released after markets shut, unless stated otherwise.
Amway (Malaysia) Holdings Bhd. (AMW MK): The direct sales company’s third-quarter net income rose 20 percent from a year earlier to 25.8 million ringgit, it said in a statement. Amway added 0.7 percent to 9.04 ringgit.
GAIL India Ltd. (GAIL) : The nation’s biggest supplier of gas is in talks to buy as many as 10 cargoes of LNG before March, when a new import terminal is due to start, an official said, asking not to be identified because of company policy. Shares lost 3.9 percent to 391.5 rupees.
GS Engineering & Construction Corp. (006360) (006360 KS): The South Korean builder signed an agreement to buy OHL Medio Ambiente Inima S.A., a Spanish water-treatment company, for 351.9 billion won ($310 million), according to a regulatory filing. The Korean company slipped 2.8 percent to 92,600 won.
Indian Oil Corp. (IOCL IN): India’s largest refiner plans to have a refining capacity of 123 million metric tons a year by March 2021, according to an emailed statement today. The state- run company may build a 15-million ton a year refinery in western India, the statement said. Shares dropped 2.8 percent to 267.9 rupees.
LEC Inc. (7874) (7874 JT): The maker of household goods will sell shares to the public for 1,038 yen each to raise as much as 1.12 billion yen ($14.6 million), according to a filing with Japan’s finance ministry. The stock declined 2.5 percent to 1,076 yen.
Lotte Shopping Co. (023530 KS): The South Korean department-store owner’s third-quarter net income dropped 57 percent because of a foreign-exchange loss caused by the weak won. The shares fell 1.6 percent to 362,000 won.
Mitsubishi Corp. (8058) (8058 JT): Japan’s largest trading house by market value will acquire the advisory and fund management business of PCG Asset Management together with the U.S. company’s management, according to a statement on Mitsubishi’s website. Mitsubishi will own about 80 percent and the management team the rest, the statement said. Mitsubishi fell 2.2 percent to 1,531 yen.
Monex Group Inc. (8698) (8698 JT): The online brokerage acquired IBFX Holdings LLC and its subsidiaries for as much as $17 million, according to a statement. Monex lost 3.5 percent to 11,520 yen.
Oriental Land Corp. (4661 JT): The company will spend about 7 billion yen to renew the Star Wars-themed “Star Tours” attraction at its Tokyo Disneyland resort. The stock slid 0.1 percent to 8,160 yen.
Patni Computer Systems Ltd. (PATNI) : iGATE Corp. plans to start the process for delisting shares of the Indian software company from the nation’s exchanges, according to an e-mailed statement. The process, if successful, is expected to be completed by mid-2012, the statement said. Patni’s stock climbed 3.9 percent to 388.85 rupees.
Rizal Commercial Banking Corp. (RCB) : The Philippine bank’s nine-month net income increased 11.4 percent to 4.08 billion pesos ($93.9 million) from a year earlier, the lender said in an emailed statement. The stock fell 0.3 percent to 30.10 pesos.
Tanduay Holdings Inc. (TDY) : The largest Philippine rum- maker expects net income to rise 76 percent this year to 1.1 billion pesos and plans fund-raising to help finance 2 billion pesos worth of projects, a stock-exchange filing showed. The stock was unchanged at 4.80 pesos.
Seiko Epson Corp. (6724) (6724 JT): The maker of electronic devices will spend as much as 21.2 billion yen to buy back up to 11 percent of its own shares outside trading hours on Nov. 17, according to a statement. The stock fell 1 percent 964 yen.
Tenma Corp. (7958) (7958 JT): The maker of molded resin products said it will buy back up to 1.81 percent of its outstanding shares. The stock sank 3.5 percent to 606 yen.
Tokyo Electric Power Co. (9501 JT): Japan’s Trade and Industry Minister Yukio Edano said Tokyo Electric is responsible for compensating residents who evacuated voluntarily after the meltdown at the Fukushima Dai-Ichi nuclear power plant in March. Edano spoke in parliament. Separately, Japan Credit Rating Agency downgraded Tokyo Electric to A from A+, according to a statement by the risk assessor. The company left the utility on negative watch, it said. Tokyo Electric lost 2.3 percent to 294 yen.
Xingquan International Sports Holdings Ltd. (XISH) : The Chinese sports-shoe maker said it secured sales orders valued at 670 million yuan ($106 million) at its spring/summer 2012 sales fair in Quanzhou, Fujian province. That’s 11 percent higher compared to sales it secured in the same event last year, it said in a statement. The stock added 0.5 percent to 93 sen.
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