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.
Ayala Corp. (AC PM): The owner of the largest Philippine developer posted a 16 percent increase in first-quarter net income to 2.45 billion pesos ($57 million) from a year earlier, driven by earnings at its property, banking and telecom ventures, a stock-exchange filing showed. The company expect “a higher earnings growth trajectory for the group moving forward,” Ayala President Fernando Zobel said in the statement. The stock rose
0.2 percent to 386.60 pesos.
Hana Financial Group Inc. (086790 KS): Hana Financial may consider buying overseas lenders if its attempt to buy Korea Exchange Bank fails, Chairman Kim Seung Yu told reporters in Seoul. The company may also consider buying back its shares with the funds raised to purchase Korea Exchange Bank if its attempted acquisition fails, he said. Hana Financial slumped 15 percent to 37,850 won.
MacroAsia Corp. (MAC PM): The Philippine provider of in-flight catering services posted a 79.96 million peso profit in the first quarter, down from 119.6 million pesos in the same period last year, a stock-exchange filing showed. The stock rose
1.3 percent to 3.04 pesos.
Megaworld Corp. (MEG PM): The Philippine builder of residential and office towers reported a 12 percent increase in first-quarter net income to 1.25 billion pesos on higher home sales and rental earnings, a stock-exchange filing showed. The stock gained 0.9 percent to 2.16 pesos.
Metropolitan Bank & Trust Co. (MBT PM): The second-biggest Philippine bank by asset had a net income of 3.1 billion pesos in the first quarter, 21.2 percent higher from a year earlier, a stock-exchange filing showed. The stock increased 1 percent to
Pacific Online Systems Corp. (LOTO PM): The company that leases terminals for the online lottery operated by the government reported a 59 percent increase in first-quarter profit to 130.6 million pesos, a stock-exchange filing showed. The stock was unchanged at 17.86 pesos.
Phoenix Petroleum Philippines Inc. (PNX PM): The gasoline retailer said its board approved a $10 million convertible loan from the International Finance Corp. to fund the expansion of its retail network and depot facility. Core net income in the first quarter rose 164 percent to 185.1 million pesos as revenue increased to 6.1 billion pesos from 2.75 billion pesos a year earlier, the company also said. The stock gained 1.4 percent to
PanAust Ltd. (PNA AU): PanAust said its Phu Kham copper-gold mining and crushing operations in Laos have been temporarily suspended after a company security vehicle was fired upon by unknown assailants on May 11. The Phu Kham processing operations have continued and all other operations are returning to normal in accordance with security protocols, PanAust said in a statement to the Australian stock exchange. PanAust dropped
1.3 percent to 74.5 Australian cents.
Posco (005490 KS): The world’s third-largest steelmaker by output said its board approved a plan to invest in a mill venture in Brazil with Vale SA and Dongkuk Steel Mill Co. Posco plans to buy a 20 percent stake in the project, Jeong Jin Suk, a spokeswoman at the Pohang-based company, said by phone. The three companies signed an initial agreement in November to build a plant with an annual capacity of 3 million metric tons of slabs. Posco rose 0.5 percent to 465,000 won.
Qantas Airways Ltd. (QAN AU): The carrier’s long-haul pilots may go on strike if talks on a new enterprise agreement, now in stalemate, don’t progress by May 19, the Australian Financial Review reported, citing Richard Woodward, president of the pilots association.
Separately, Qantas will be forced to raise airfares on some international routes from January as a result of changes to the European Union’s carbon-emissions trading scheme, the Weekend Australian reported on Saturday. Qantas shares were unchanged at A$2.12.
San Miguel Pure Foods Co. (PF PM): The largest Philippine-maker of hotdogs said first-quarter profit rose 26 percent to
1.1 billion pesos. San Miguel Corp. (SMC PM) will initially sell a 10 percent stake in Pure Foods to meet minimum requirement by the stock exchange and may still sell up to 49 percent of the unit, President Ramon Ang said. San Miguel may also sell stakes of up to 49 percent in its other ventures to fund expansion, Ang said. Pure Foods was unchanged at 999.50 pesos when it last traded on May 11. San Miguel gained 0.1 percent to 111 pesos.
Tingyi (Cayman Islands) Holding Corp. (322 HK): China’s biggest maker of packaged food said first-quarter profit grew 20 percent to $123 million. Sales expanded 40 percent to $2 billion, Tingyi said in a statement to Hong Kong’s stock exchange. Earnings per share increased to $2.19 from $1.82 a year earlier. Tingyi gained 4 percent to HK$20.95.