Atlas, AU Optronics, Boustead, Shinhan, ZTE: 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.
Atlas Consolidated Mining & Development (AT) Corp: The Philippine metals producer said it’s working with partners to restart operations at a nickel mine and that this would cost at least $3 million, according to a stock-exchange filing. The nickel mine is in talks with a Chinese company for a “possible off-take agreement,” it said. The stock declined 2.8 percent to 15.80 pesos.
AU Optronics Corp. (2409) (2409 TT): Taiwan’s second-largest maker of liquid-crystal displays posted first-quarter revenue of NT$93.2 billion, 9.1 percent less than the prior three-month period and missing analyst estimates because of “lower-than- expected TV panel prices,” the Hsinchu, Taiwan-based company said in an e-mailed statement. AU Optronics slipped 0.2 percent to NT$25.60.
Boustead Singapore Ltd. (BOCS) : The Singapore-based engineering company said a unit won contracts, valued at S$25 million ($19.8 million), from the oil industry. The stock was unchanged at S$1.
CJ CheilJedang Corp. (097950) (097950 KS): The South Korean food processor will raise flour prices by as much as 8.7 percent today to reflect higher raw material costs, said Lee Eun Young, a spokeswoman for the company. CheilJedang will also spend 3 trillion won ($2.75 billion) by 2015 developing organically- produced ingredients, the Korea Economic Daily reported, citing an interview with Chief Executive Officer Kim Hong Chang. The stock fell 0.8 percent to 238,000 won.
Compal Electronics Inc. (2324) (2324 TT): The company’s board approved a plan to buy back 100 million common shares at between NT$25.65 and NT$49.19 each from April 8 to June 7, Compal said in a statement to the Taiwan stock exchange. The proposed stock repurchase equals to 2.26 percent of the company’s outstanding shares, it said. Compal was unchanged at NT$28.50.
First Philippine Holdings Corp. (FPH) : The company’s profit rose to 24.85 billion pesos ($576 million) last year from 8.7 billion pesos in 2009, a stock-exchange filing showed. The stock rose 0.3 percent to 61.20 pesos.
Shinhan Financial Group Co. (055550 KS): South Korea’s largest financial company by market value plans to raise 1.2 trillion won selling new preferred stock to fund the buyback of previously sold shares due next year, it said in a regulatory filing. Shinhan retreated 0.9 percent to 49,750 won.
Unionmet Singapore Ltd. (UMS) : The producer of indium ingots said it had a fiscal first-quarter loss of $407,000, compared with a $460,000 profit as it temporarily halted production ahead of discussions with suppliers on raw material pricing this month. The stock was unchanged at 6 Singapore cents.
Woori Investment & Securities Co. (005940 KS): The South Korean brokerage may buy the private-banking business of Bank of America Merrill Lynch’s South Korean unit, the Maeil Business Newspaper reported, citing industry officials it didn’t identify. Lee Won Chul, a spokesman for Woori Investment, declined to comment on the report by phone. Woori Investment slipped 0.2 percent to 20,600 won.
ZTE Corp. (000063) (000063 CH): The Chinese telecommunications equipment maker that’s being sued by Ericsson AB for alleged patent infringement said the lawsuit won’t have any “material and adverse” impact on the company’s financial conditions and operations. ZTE fell 0.6 percent to 29.09 yuan.
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