Acer, Eton, Neptune Orient, Splash, Suzlon Energy: Asia Stocks Preview
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices (NKY) are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Acer Inc. (2353 TT): The world’s fourth-largest computer maker said November sales fell 12 percent to NT$36 billion ($1.19 billion) from a year earlier, according to a statement. The stock retreated 0.4 percent to NT$34.20.
Bank of China Ltd. (3988) (3988 HK): The country’s third-largest lender by assets is looking for potential merger and acquisition opportunities for overseas expansion, President Li Lihui said in an interview script posted on the lender’s website. The stock gained 1.1 percent to HK$2.83.
CJ Corp. (001040) (001040 KS): The holding company of South Korea’s biggest food processor plans to buy 446.9 billion won ($388.1 million) worth of new shares in CJ GLS Corp., a logisitcs company, according to a regulatory filing. The stock rose 1 percent to 82,100 won.
Compal Electronics Inc. (2324) (2324 TT): The world’s second- largest laptop maker said November sales fell 25 percent to NT$53 billion from a year earlier, according to a statement from the Taiwan Stock Exchange. Separately, the company’s rated “hold” in new coverage at Samsung Securities Co. The stock gained 1.1 percent to NT$28.30.
Eton Properties Philippines Inc. (ETON) : The Philippine builder of residential towers, offices and commercial centers expects profit this year to “easily” reach 800 million pesos ($18 million), President Danilo Ignacio said. The company plans to comply with the stock exchange’s minimum float for public companies, he said. The stock fell 0.3 percent to 3.20 pesos.
Geely Automobile Holdings Ltd. (175) (175 HK): The automaker whose parent owns Volvo Cars said total sales volume for November rose about 0.8 percent to 44,520 units from a year earlier. It rose about 24 percent from the previous month, it said. The stock was unchanged at HK$1.81.
Hokuto Corp. (1379) (1379 JT): The mushroom cultivator said it had 4.3 billion yen ($55 million) in November sales on a parent basis, lower than its target of 4.88 billion yen. Shares rose 0.4 percent to 1,715 yen.
Ihara Chemical Industry Co. (4989 JT): Net income in the fiscal year ended Oct. 31 was 1.55 billion yen, beating its forecast by 35 percent, according to a preliminary earnings statement. Overseas sales of its agrochemical materials were firm, the maker of organic chemical products said in a release. Ihara fell 0.4 percent to 283 yen.
Lawson Inc. (2651) (2651 JT): The convenience-store operator said same-store sales in November rose 5.9 percent from the same month a year earlier, buoyed by higher sales per customer. The stock advanced 0.6 percent to 4,535 yen.
LG Chem Ltd. (051910) (051910 KS): South Korea’s biggest chemical maker filed a suit against SK Innovation Co. (096770 KS), to a court in Seoul over safety-reinforced separator technology used to make car batteries, according to an e-mail from LG Chem. The stock fell 0.8 percent to 313,500 won.
LG International Corp. (001120) (001120 KS): The company which owns a 32 percent stake in GS Retail, will raise 300.3 billion won by selling 20 percent, or 15.4 million shares at 19,500 won a piece through the IPO of the South Korean convenience store operator, according to a regulatory filing. The initial band was 18,000 won to 21,000 won apiece. The stock rose 0.6 percent to 52,300 won.
Manila Electric Co. (MER) : The largest Philippine power retailer plans to divest in stake in Rockwell Land Corp. by distributing its holdings as a property dividend that will be followed by a listing of the real estate developer. The stock decreased 0.8 percent to 236 pesos.
Neptune Orient Lines Ltd. (NOL SP): Southeast Asia’s biggest container carrier said average freight rates in the four weeks ended Nov. 18 dropped 14 percent from a year earlier. It transported two percent more cargo during the period, Neptune Orient said. The stock gained 1.3 percent to S$1.14.
Nissan Motor Co. (7201 JT): Japan’s third-largest carmaker by market value and Microsoft Corp. (MSFT US), the world’s biggest software maker, agreed to jointly develop a computerized auto-dealer management system, the companies said in a statement. Nissan gained 1.5 percent to 697 yen.
Nissen Holdings Co. (8248 JO): The mail-order business operator slashed its full-year net income forecast 56 percent to 1.58 billion yen, saying earthquake-related costs and less-than- expected sales dragged down earnings. The stock was unchanged at 425 yen.
Philippine Stock Exchange Inc. (PSE) : The operator of the nation’s sole stock market may delay an extension of trading hours scheduled to begin Jan. 2 on concern Europe’s debt crisis may worsen and trigger a further market slump, President Hans Sicat said. The stock was unchanged at 225 pesos.
Samsung Card Co. (029780) (029780 KS): The credit card issuer plans to sell its stake in theme park operator Samsung Everland Inc. to KCC Corp. (002380 KS). Samsung Card, which currently owns 25.64 percent of Everland, plans to sell 17 percent by Jan. 31, to meet local regulations, according to regulatory filing. The stock fell 0.4 percent to 41,700 won.
Shoei Foods Corp. (8079 JT): The food-trading company said full-year net income fell 21 percent to 1.12 billion yen, hurt by earthquake-related charges and demolition costs for leveling its headquarters. Shoei expects net income to rise by a quarter to 1.4 billion yen this fiscal year. Shares rose 0.6 percent to 513 yen.
Splash Corp. (SPH) : The biggest Philippine maker of whitening soap may borrow 520 million pesos to help fund next year’s capital expenditures and acquisitions, a stock exchange filing showed. The stock increased 0.5 percent to 1.98 pesos.
Studio Alice Co. (2305 JT): The photo-studio chain’s November sales fell 2.6 percent from a year earlier, its first drop since March, Studio Alice said in a release. The stock slumped 2.2 percent to 1,226 yen.
Suzlon Energy Ltd. (SUEL) : The wind-turbine maker’s unit, Repower, has signed deals for 35 megawatts, Suzlon said in a statement to BSE Ltd. Suzlon’s stock fell 3.1 percent to 21.7 rupees in Mumbai.
Tokyo Tatemono Co. (8804 JT): The developer said it expects a 72 billion-yen loss in the year ending Dec. 31 after writing down assets. The company had forecast profit of 6 billion yen. Tokyo Tatemono said it will not issue a dividend for the period, after paying 4 yen per share a year earlier. Shares advanced 1.3 percent to 227 yen.
Tomoe Engineering Co. (6309 JT): The maker of chemical materials forecast a 43 percent decline in net income to 1.66 billion yen this fiscal year, while it expects a 9.9 percent rise in operating profit to 2.66 billion yen. The stock declined 0.4 percent to 1,372 yen.
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