Cnooc, Taiwan Cement, Universal: Asia Ex-Japan Equity Preview
The following companies may have unusual price changes in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Banco de Oro Unibank Inc. (BDO) : The largest Philippine bank by assets will pay 1 peso a share in dividends, a stock exchange filing showed. The shares fell 0.4 percent to 56.35 pesos.
Chien Kuo Construction Co. (5515 TT): The company plans to sell three mining units in China to TCC Group for NT$1.6 billion ($56 million), the Taipei, Taiwan-based company said in a statement to the local stock exchange. The disposal will result in an estimated gain of NT$1.03 billion, Chien Kuo said. The stock increased 3.6 percent to NT$17.40.
Cnooc Ltd. (883) (883 HK): China’s largest offshore oil producer will accelerate deepwater drilling off the nation’s coast, President Yang Hua said at a media briefing. The company’s foreign partners may drill two to three deepwater wells this year while Cnooc itself may drill as many as three, Yang said. Yang declined to comment on reports that Cnooc may make a joint bid with Indonesia’s PT Pertamina for Exxon Mobil Corp.’s 25 percent share in an Angola oil area. The stock gained 2 percent to HK$19.06.
Metro Pacific Investments Corp. (MPI) : The Philippine unit of Hong Kong’s First Pacific Co. (142 HK) expects a return on equity of “mid to high teens” in five years, President Jose Maria Lim said May 27. The company, which has investments in water, power and infrastructure, expects to “return capital to shareholders in a more significant way through dividend,” Lim said. The stock gained 0.3 percent to 3.37 pesos.
Philippine Long Distance Telephone Co. (TEL) : The nation’s biggest phone company may add a million mobile phone subscribers in the second quarter, Chairman Manuel Pangilinan told reporters on May 27. Subscribers take-up in April and March is “good,” Pangilinan said. The stock climbed 1.6 percent to 2,478 pesos.
Taiwan Cement Corp. (1101) (1101 TT): The island nation will levy a provisional anti-dumping tax on Chinese makers of Portland cement type I, type II and clinker from Monday, the Ministry of Finance said in a statement. A final decision will be made within 60 days. It will impose a 95.26 percent tax on imports from Daewoo Cement (Shandong) Co. and 95.29 percent on other Chinese cement makers, the ministry said. Taiwan Cement, the island’s largest maker of the building material, fell 0.3 percent to NT$39.30.
Universal Robina Corp. (URC) : The second-largest Philippine food and drinks company’s 12-month share price estimate was raised 23 percent to 50.30 pesos by Lovell Sarreal, an analyst at ATR KimEng Securities Inc. The brokerage kept its “buy” rating on the shares. The stock increased 4.9 percent to 43 pesos.
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