The following companies may have unusual price changes today 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 Philippine company may avail of 50 billion pesos ($1.16 billion) worth of project finance loans for two coal-fired power plants it will build starting this year, President Erramon Aboitiz said. The two plants will have a combined capacity of at least 600 megawatts, he said. The stock rose 1.5 percent to 29.90 pesos.
AIC Corp. (AIC MK): The Malaysian semiconductor assembler’s first-quarter profit surged 48 percent from a year earlier to 4.28 million ringgit ($1.41 million), the company said in a stock-exchange filing. The stock climbed 1 percent to 1.01 ringgit.
China Railway Construction Corp. (601186 CH): The railway builder set up a company in Beijing yesterday with total investment of 3 billion yuan ($461.2 million), Xinhua News Agency reported. The new company will mainly focus on investment in infrastructure, finance, resources and real estate, it said. China Railway, the builder of more than half of the nation’s railroads, climbed 0.5 percent to 6.65 yuan.
Samsung Life Insurance Co. (032830 KS): South Korea’s CJ Group may sell a stake in Samsung Life to raise funds to bid for Korea Express Co. (000120 KS), the Maeil Business Newspaper reported, citing an unidentified CJ official. Samsung Life, South Korea’s biggest life insurer, climbed 0.4 percent to 96,700 won and Korea Express, the nation’s biggest logistics company, advanced 0.6 percent to 95,600 won.
Fortescue Metals Group Ltd. (FMG AU): Australia’s third-largest iron-ore exporter said in a statement to the Australian Stock Exchange that it will issue 250,000 shares under its employee incentive scheme. The shares will be escrowed for 12 months, the company said. Fortescue rose 2.9 percent to A$6.39.
Lotte Shopping Co. (023530 KS): South Korea’s biggest department-store owner said first-quarter profit rose 13 percent as sales at department and discount stores increased. Net income gained to 354.5 billion won ($325.5 million) in the three months ended March 31, the Seoul-based retailer said. Lotte fell 2.1 percent to 490,500 won.
PT Kalbe Farma (KLBF IJ): Indonesia’s biggest pharmaceutical producer will propose a dividend payout of 50 percent of last year’s net income, more than the 25 percent payout in 2010, said Vidjongtius, a director at the company. Kalbe Farma’s net income will probably rise by between 15 percent and 18 percent this year, Vidjongtius said. The stock advanced 1.4 percent to 3,550 rupiah.
Tan Chong Motor Holdings Bhd. (TCM MK): The Malaysian car assembler’s first-quarter net income rose 15 percent from a year earlier to 74.1 million ringgit as sales gained, according to a company statement. The shares fell 0.7 percent to 4.30 ringgit.
TPK Holding Co. (3673 TT): The supplier of displays for Apple Inc.’s iPad will acquire a 19.9 percent stake in Cando Corp. (8056 TT) to boost its supply of touch-sensors. TPK will pay NT$5.58 billion ($193 million) in cash, or NT$31 per share, to buy the stake from AU Optronics Corp. (2409 TT) and its affiliates, the Taipei-based company said. TPK rose 1.2 percent to NT$898, Cando gained 4.3 percent to NT$24.40 and AU Optronics, Taiwan’s second-largest maker of liquid-crystal displays, rose 3.7 percent to NT$22.30.