Asustek, Pos Malaysia, SM Prime: 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.
Asustek Computer Inc. (2357) (2357 TT): The Taiwanese maker of low-cost computers said sales to Japan will be impacted “a little bit” after the March 11 earthquake, according to Chairman Jonney Shih. The company hasn’t yet seen any shortage of components after the quake, Shih told Bloomberg News. The stock fell 0.6 percent to NT$253.5.
China Resources Enterprise Ltd. (291) (291 HK): The company which formed a soft-drink venture with Japan’s Kirin Holdings Co. (2503 JT) will pay 904.9 million yuan ($138 million) for “most of the commercial space” of a project being developed by China Resources Land Ltd. in the northern Chinese city of Harbin, the companies said in a joint statement. China Resources Enterprise gained 1.5 percent to HK$29.80.
China Resources Land Ltd. (1109) (1109 HK): The state-linked property developer said full-year net income climbed 40 percent to HK$6.03 billion ($774 million) from a year ago, surpassing the average estimate of HK$5.3 billion of by 16 analysts compiled by Bloomberg. The stock rose 1.4 percent to HK$13.28.
Doosan Infracore Co. (042670 KS): South Korea’s largest construction-equipment maker plans to sell a 20 percent stake in its Chinese excavator unit for 380 billion won ($341 million), according to an e-mailed statement on March 25. Half of the stake will come from Doosan and the remainder its Chinese holding company, the statement said. The proceeds will be used to repay debt and expand into emerging markets. Doosan Infracore lost 2 percent to 30,100 won.
Farglory Land Development Co. (5522 TT): The Taiwanese construction company said it bought two pieces of land measuring a total of 11,137 square meters in New Taipei City for NT$6.17 billion, according to a statement to the Taiwan stock exchange on March 25. The stock lost 0.3 percent to NT$62.6.
Hong Kong Exchanges & Clearing Ltd. (388 HK): The world’s largest-listed exchange operator may amend its rules to allow business trusts to be listed in the city, Chief Executive Officer Charles Li said. Hong Kong Exchanges increased 1.6 percent to HK$166.80.
Manila Electric Co. (MER) : The largest Philippine power retailer is in talks with potential partners to invest in power generation assets, Joe Zaldarriaga, a spokesman at the Manila- based company, said in a phone interview. The stock rose 8.2 percent to 248.60 pesos.
Nan Ya Plastics Corp. (1303) (1303 TT): The world’s largest processor of plastics for pipes and imitation leather said its board approved a plan to pay a cash dividend of NT$4.7 per share on its 2010 earnings, according to a statement to the Taiwan stock exchange on March 25. The stock dropped 0.5 percent to NT$83.6.
NTPC Ltd. (NATP) : India’s biggest power generator plans to add 4,320 megawatts of capacity in the year starting April 1, the state-owned company said in an e-mailed statement on March 25 after signing an agreement with the power ministry. The utility currently has a capacity of 33,694 megawatts, according to the statement. The stock advanced 4 percent to 182.90 rupees.
Pos Malaysia Bhd. (POSM) : The national postal company said it proposed a special dividend of 7.5 sen a share on top of a final dividend of 10 sen, according to a company statement. The shares rose 0.9 percent to 3.23 ringgit.
Reliance Industries Ltd. (RIL) : The Mumbai-based company started a catalytic cracker unit at its Jamnagar refinery after a planned maintenance and inspection shutdown, according to a statement on the Bombay Stock Exchange on March 25. Reliance expects improvement in the unit’s performance. The stock rose 1.6 percent to 1,026.60 rupees.
SM Prime Holdings Inc. (SMPH) : The largest Philippine shopping mall operator will open as many as two malls in China this year, Teresita Sy-Coson, vice chairwoman at parent SM Investments Corp. (SM) , said in an interview. Manila-based SM Investments has not been affected by the crises in Japan and the Middle East and it’s “continuing” with its targets this year, Sy-Coson said. SM Prime gained 4.7 percent to 11.48 pesos. SM Investments rose 0.8 percent to 519.50 pesos.
Wealth Bridge Co. (015540 KS): The South Korean game software developer is considering selling all or part of its stakes in invested companies, according to a regulatory filing made by the company on March 25 in response to a question from the Korea Exchange. The stock rose by the daily permissible limit of 15 percent to 339 won in Seoul trading, its highest level since Dec. 7.
To contact the editor responsible for this story: Darren Boey at email@example.com.