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Alibaba, Formosa, HTC, PetroChina: 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. Ltd. (1688 HK): The Chinese e-commerce company, which is seeking to recover from a fraud scandal, posted profit that beat analyst estimates as customers spent more to promote their products. Fourth-quarter net income advanced 46 percent to 410.4 million yuan ($63 million), or 0.08 yuan a share. The average estimate of five analysts compiled by Bloomberg was 400 million yuan. Alibaba declined 4.2 percent to HK$13.80.

Dart Energy Ltd. (DTE AU): The Australian company’s venture in Indonesia may start supplying gas from a coal-bed methane block in East Kalimantan province to PT Perusahaan Listrik Negara in the second quarter of this year, Ephindo Energy, a partner in the venture, said. Dart, an oil and gas exploration company, rose 1.2 percent to 88 Australian cents.

Faber Group Bhd. (FAB MK): The Malaysian hospital-support-services provider and property group said it proposed a capital reduction to reduce accumulated losses. The company will cancel 75 percent of the par value of each ordinary share, it said in an exchange filing. This will enable Faber to offset an estimated 272.3 million ringgit ($89 million) of losses, the statement said. Faber Group fell 2.1 percent to 1.91 ringgit.

Formosa Petrochemical Corp. (6505 TT): Taiwan’s only publicly traded oil refiner plans to pay a cash dividend of NT$3.90 per share on its 2010 earnings, it said in a statement to the stock exchange. Formosa retreated 1.6 percent to NT$92.50.

Hankook Tire Co. (000240 KS): The South Korean tire maker plans to spend 147.2 billion won ($130 million) on expanding a research center in the country by June 30, 2013, according to a regulatory filing. Hankook retreated 4 percent to 32,100 won.

HTC Corp. (2498 TT): The Taiwanese maker of Google Inc.’s Android mobile-phone handsets revised the budget and size of a factory and office building in its base of Taoyuan, Taiwan, to NT$2.8 billion ($94.8 million) and 36,483 pings in area, it said in an exchange filing. HTC said in an Oct. 29 filing it plans to spend NT$1.6 billion for a space of 22,000 pings. One ping is equal to 3.3 square meters. HTC declined 1.9 percent to NT$1,010.

Megaworld Corp. (MEG PM): The Philippine developer said net income last year rose 25 percent to a record 5.1 billion pesos ($116 million), boosted by property sales and rental earnings. Revenue increased 16 percent to 20.5 billion pesos, it said in a regulatory filing. Megaworld fell 3.2 percent to 2.09 pesos.

Nanjing Iron & Steel Co. (600282 CH): The Chinese steelmaker part-owned by billionaire Guo Guangchang is studying iron-ore derivatives and steel futures, Chairman and Chief Executive Officer Yang Siming said at a conference in Kunming. He said the company may trade iron-ore futures to supplement its raw material supply. Nanjing slipped 0.3 percent to 3.84 yuan.

PetroChina Co. (857 HK): The country’s biggest energy producer posted a 35 percent gain in profit last year, beating estimates, as crude prices rose and fuel demand increased in the world’s fastest-growing major economy. Net income climbed to 140 billion yuan ($21.3 billion), or 0.76 yuan a share, the Beijing-based company said in a statement in Hong Kong. PetroChina fell 0.8 percent to HK$10.46.

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