Hutchison, Hyundai, NetComm, Posco, Woongjin: Asia Ex-Japan Stock 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.
First Philippine Holdings Corp. (FPH) : First PV Ventures Corp., a maker of solar-power components and a unit of First Philippine, will form a venture with South Korea’s Nexolon Co. to build a wafer plant, a stock-exchange filing showed. First PV will hold a 70 percent stake in the venture and invest $40 million in the project, which may cost $100 million, it said. The stock decreased 0.4 percent to 52.55 pesos.
Hutchison Telecommunications Hong Kong Holdings Ltd. (215) (215 HK): The phone carrier controlled by billionaire Li Ka-shing posted a HK$755 million ($97 million) profit last year on HK$9.88 billion of sales, a filing with the Hong Kong Stock Exchange showed. The stock climbed 4.6 percent to HK$2.75.
Hyundai Heavy Industries Co. (009540 KS): The world’s largest shipbuilder said it received a total of $6.29 billion worth of orders in the first two months of 2011, 53 percent more than the same period last year. Sales in February increased 16 percent to 1.8 trillion won, the Ulsan, South Korea-based company said in a regulatory filing. The stock gained 1.3 percent to 479,000 won.
NetComm Ltd. (NTC) : The Australian developer and manufacturer of broadband technology equipment said revenue for the full year will reach A$67 million ($67 million) while earnings before interest, tax, depreciation and amortization will be about A$5 million. The forecast is lower than the guidance given in November, it said. The stock increased 5.6 percent to A$0.19.
Philippine Long Distance Telephone Co. (TEL) : The nation’s largest company said it priced 5 billion pesos ($115 million) of five, seven and 10-year notes at a spread of 30 basis points over benchmark rates and will issue the notes on March 24. The stock fell 0.3 percent to 2,032 pesos.
Posco (005490) (005490 KS): The world’s third-biggest steelmaker by output said it began construction of an automotive steel processing plant in China to meet demand from automakers in the country. The plant will process 450,000 metric tons of automotive steel a year when it is completed by the end of 2012, the Pohang, the South Korean company said in an e-mailed statement. The stock rose 1.2 percent to 508,000 won.
United Microelectronics Corp. (2303) (2303 TT): The world’s second-largest contract maker of chips purchased NT$691 million ($23.4 million) of equipment from Nikon Precision Taiwan Ltd. from May 11 to March 21, a stock-exchange filing showed. The stock climbed 1.4 percent to NT$14.80.
Woongjin Coway Co. (021240 KS): The South Korean water- purifier maker said it plans to buy back 2 million shares on the market for three months starting today, a regulatory filing showed. The move may cost 65.6 billion won ($58 million), it said. The stock increased 2.1 percent to 33,500 won.
Yuexiu Property Co. (123 HK): The developer posted a 919 million yuan ($140 million) profit in 2010 on sales of 5.63 billion yuan, a filing with the Hong Kong Stock Exchange showed. The stock rose 3.1 percent to HK$1.66.
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