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Aboitiz, Cheung Kong Infra, MISC: Asia Ex-Japan Equity Preview

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April 9 (Bloomberg) -- The following companies may have unusual price changes in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.

Aboitiz Power Corp. (AP PM): The Philippines’ second-largest distributor of electricity may invest $2 billion over three years to build and buy power plants with a total capacity of about 1,000 megawatts, President Erramon Aboitiz said April 8. The company expects profit and sales to rise this year following purchases that boosted output, helped in part by the El Nino dry spell, he said. The stock was unchanged at 12.75 pesos.

Bina Puri Holdings Bhd. (BIN MK): The Malaysian builder said it won a 6.3 million ringgit contract from Melewar Integrated Engineering Sdn. to build a warehouse in Thailand, bringing its current order book to 1.8 billion ringgit. Bina slid 0.9 percent to 1.16 ringgit.

Cheung Kong Infrastructure Holdings Ltd. (1038 HK): Hong Kong billionaire Li Ka-shing’s roads and utility company is suing BlueScope Steel Ltd. over its failed bid to buy an iron-sands mine in New Zealand from the Australian company, the utility said. The stock dropped 0.2 percent to HK$29.95.

IGB Corp. (IGB MK): The Employees Provident Fund, Malaysia’s largest pension fund, sold 9.2 million shares in IGB, a property developer, a stock-exchange filing showed. The sale of shares reduced the fund’s stake in IGB to 13.6 percent, according to the filing. IGB lost 1 percent to 1.96 ringgit.

Manila Electric Co. (MER PM): The Philippines’ largest power retailer is in talks to acquire generating assets and supply contracts to remain “competitive” when some of its customers are allowed to choose among suppliers, President Jose de Jesus said April 8. Customers who require at least one megawatt will be allowed to choose their own suppliers as early as next year, he said. This comprises about 25 percent of Manila Electric’s power sales, he said. The stock fell 1.6 percent to 180 pesos.

MISC Bhd. (MISC MK): Malaysia’s biggest shipping group said it plans to list its Malaysia Marine & Heavy Engineering Sdn. unit on the Kuala Lumpur stock exchange. “MISC is taking steps to formulate the listing scheme and will accordingly appoint the advisers,” the company said in a statement. MISC slid 2.7 percent to 8.17 ringgit.

To contact the reporter on this story: Hanny Wan in Hong Kong at hwan3@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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