Fairfax Media, Gintech, ProMOS, San Miguel: 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.
Bank of the Philippine Islands (BPI PM): The nation’s third-largest bank by assets expects profit to top 9.5 billion pesos ($217 million) this year, President Aurelio Montinola said. The stock was unchanged at 60 pesos.
Fairfax Media Ltd. (FXJ AU): Billionaire Gina Rinehart has spent at least A$50 million ($49.6 million) to buy a stake in Fairfax Media, the Australian Financial Review reported, without saying where it got the information. Rinehart has bought at least 2 percent of the publisher through stockbrokers including Morgan Stanley Smith Barney, the newspaper reported on its website. The stock increased 2.5 percent to A$1.445.
Gintech Energy Corp. (3514 TT): The Taiwanese manufacturer of silicon solar cells posted a 33 percent increase in sales to NT$2.68 billion in November, a stock exchange filing showed. The stock gained 1.6 percent to NT$85.4.
Neowiz Games Corp. (095660 KS): The South Korean provider of online games application services was rated “overweight” with a 12-month share price estimate of 63,000 won by Sung-Min Chang, an analyst at JPMorgan Chase & Co. The stock gained 1.7 percent to 48,900 won.
PAL Holdings Inc. (PAL PM): Philippine Airlines Inc.’s crew labor union said its members are voting “overwhelmingly” to go on strike to protest what is says are illegal one-on-one talks with personnel whose jobs the carrier plans to outsource. PAL, owner of Philippine Airlines, declined 4.8 percent to 4 pesos.
ProMOS Technologies Inc. (5387 TT): The Taiwanese chipmaker posted a 50 percent increase in sales in November to NT$1.62 billion, a stock exchange filing showed. The stock fell 2.3 percent to NT$2.09.
San Miguel Pure Foods Co. (PF PM): The largest Philippine- maker of hotdogs said its board approved the public offering of up to 25 million preferred shares. The stock was unchanged at 780 pesos when the shares last traded on Dec. 1.
Silex Systems Ltd. (SLX AU): The Australian research and development company plans to raise A$89.1 million from a share offering to fund solar power projects and expansion of a manufacturing facility, a stock exchange filing showed. The stock fell 1.4 percent to A$6.41.
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