Bandanna, BYD, Daewoo, Formosa, Nine Dragons: 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.
Bandanna Energy Ltd. (BND) : The Australian coal explorer seeking funds to develop projects expects final offers for all or part of the company before the end of this month, said a person with knowledge of the matter. Potential acquirers of Brisbane-based Bandanna have completed visits to the company’s project sites, said the person, who asked not to be identified because the process is private. The person declined to name the companies. The stock advanced 3.9 percent to A$2.
BYD Co. (1211 HK): The Chinese automaker part-owned by Warren Buffett’s Berkshire Hathaway Inc. will work with Intel Corp. to develop new-energy automobiles, it said in an e-mailed statement. The stock increased 10 percent to HK$27.70.
Daewoo Shipbuilding & Marine Engineering Co. (042660 KS): The South Korean shipbuilder hasn’t made any decision about a possible plan to build a shipyard in South Africa, it said in an e-mail. Business Day reported Daewoo wants to build a shipyard in the African nation, which may cost 40 billion rand ($6 billion). The stock sank 1.6 percent to 44,250 won.
Formosa Chemicals & Fibre Corp. (1326) (1326 TT): The company reported first-half pretax profit rose 33 percent from a year earlier to NT$31.1 billion ($1.1 billion), its parent company said in a statement. The stock advanced 1.9 percent to NT$107.
Formosa Petrochemical Corp. (6505) (6505 TT): Taiwan’s only publicly traded oil refiner reported first-half pretax profit increased 24 percent from a year earlier to NT$30.5 billion, the company’s parent said in a statement. The stock gained 0.5 percent to NT$102.50.
Formosa Plastics Corp. (1301) (1301 TT): Taiwan’s biggest diversified industrial company’s first-half pretax profit increased 31 percent from a year earlier to NT$29.5 billion, the company’s parent said in a statement. The stock gained 1.9 percent to NT$108.
Korea Electric Power Corp. (015760) (015760 KS) is seeking to hire a new chief executive officer, according to a recruitment notice on its website. The state-run power utility is seeking applications for the post by July 13, the notice said. Chief Executive Kim Ssang Su plans to step down when his three-year tenure expires in August, Yonhap News reported, citing a Knowledge Economy Ministry official that it didn’t name. The stock increased 0.5 percent to 28,100 won.
Nan Ya Plastics Corp. (1303) (1303 TT): The Taiwanese plastics processor reported first-half pretax profit fell 0.1 percent from a year earlier to NT$23.2 billion, the company’s parent said in a statement. The stock rose 1.7 percent to NT$78.30.
Nine Dragons Paper Holdings Ltd. (2689) (2689 HK): The paper products company controlled by China’s richest woman agreed to borrow as much as 1 billion yuan from China Development Bank Corp., according to a statement to the Hong Kong stock exchange. The company will use the loan to repay existing bank borrowing and as “general working capital,” it said. The stock gained 5.5 percent to HK$7.14.
Splash Corp. (SPH) : The Philippine-maker of whitening soap bought back 4.52 million shares at 2.20 pesos, a stock- exchange filing showed. The stock was unchanged at 2.22 pesos.
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