Alaska Milk, China Resources, Delta, Genesis: 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.
Alaska Milk Corp. (AMC) : Wilfred Uytengsu, president at the Philippine milk producer, bought 500,000 shares at 12.80 pesos each, a stock-exchange filing showed. The stock was unchanged at 12.80 pesos.
China Resources Land Ltd. (1109) (1109 HK): The Hong Kong-based property developer posted net income of HK$3.6 billion ($462 million) for the first half of the year, according to a statement to the Hong Kong stock exchange. That compares with the average HK$2.4 billion of three estimates compiled by Bloomberg. China Resources fell 4.8 percent to HK$12.78.
Delta Electronics Inc. (2308) (2308 TT): The manufacturer of power supplies and video display products denied a report by Economic Daily News it plans to eliminate 6,000 people, or 10 percent of its workforce in China, company spokesman Jesse Chou said by telephone. The company is freeing up 10 percent of its manpower for other assignments by using automation, Chou said. Delta dropped 6.4 percent to N$70.70.
Genesis Photonics Inc. (3383) (3383 TT): The producer of light emitting diode chips and wafers signed NT$6 billion ($207 million) of five-year syndicated loans with 20 banks including Mega International Commercial Bank Co., the Taiwan-based company said in a statement to the local stock exchange. Genesis retreated 6.9 percent to NT$49.70.
HannsTouch Solution Inc. (3049 TT): The maker of color filters signed NT$6 billion of five-year syndicated loans with nine banks including Mega International Commercial Bank Co., the Taiwan-based company said in a statement to the local stock exchange. The proceeds will be used to fund capital expenditure and replenish working capital, it said. HannsTouch dropped 6.9 percent to NH$14.80.
Hyundai Elevator Co. (017800 KS): The South Korean manufacturer of elevators and escalators incurred a 48.1 billion won ($44 million) loss from derivatives products linked to its holdings in Hyundai Merchant Marine Co., according to a regulatory filing. The stock fell 5 percent to 124,500 won.
Kia Motors Corp. (000270) (000270 KS): Workers at South Korea’s second-largest carmaker approved a wage accord for 2011, averting strikes for a second straight year. A total of 18,641 unionized workers, representing 64 percent of the present vote, approved the deal reached with the management on Aug. 17, according to a statement posted on the union’s website. Kia Motors declined 7.5 percent to 62,500 won.
PT United Tractors (UNTR IJ): Indonesia’s biggest heavy equipment seller said sales in July declined to 728 units from 742 units a month earlier. Sales rose from 468 units a year earlier, United Tractors said in an e-mailed statement. The stock fell 6.4 percent to 23,500 rupiah.
Samsung Heavy Industries Co. (010140 KS): The South Korean shipyard said it received an order to build two liquefied natural gas tankers for Golar LNG Ltd. The vessels will each be able to carry 160,000 cubic meters of LNG, the company said in an e-mailed response to Bloomberg News. It didn’t disclose the value of the order or the delivery dates. Samsung Heavy plunged 11 percent to 30,050 won.
Shanghai Electric Group Co. (601727 CH): The company’s first half net income rose 15.3 percent from the same period a year earlier to 1.64 billion yuan (256 million), according to a statement to the Shanghai Stock Exchange. Shanghai Electric, a producer of power equipment, fell 2 percent to HK$5.84.
Shining Building Business Co. (5531 TT): The real-estate company plans to sell as much as $143 million of five-year unsecured overseas convertible bonds at an interest rate of up to 3 percent, Shining Building said in a statement to the Taiwan stock exchange. The proceeds will be used to invest in China through overseas units, the company said. Shining Building lost 6.8 percent to NT$33.55.
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