BHP, Cathay Pacific, Posco: Asia Ex-Japan Equity Preview

By Anuchit Nguyen

Oct. 14 (Bloomberg) -- The following companies may have unusual price changes in Asia trading, excluding Japan, today. Stock symbols are in parentheses, and share prices are from the previous close.

BHP Billiton Ltd. (BHP AU): The world's largest mining company declared force majeure allowing the company to miss copper concentrate deliveries from its Escondida mine in Chile, the world's largest, after an equipment failure. Minera Escondida Ltd., the mine manager, announced the force majeure after determining equipment problems at the Laguna Seca concentrator plant would curb output, the company said. BHP jumped A$2.26, or 8.2 percent, to A$30.

PT Bakrieland Development (ELTY IJ): The Indonesian property company, partly owned by U.S. hedge fund Avenue Capital Group, forecast profit this year will increase 37 percent on higher sales of homes and apartments. The Jakarta-based Bakrieland expects profit to rise to 183 billion rupiah ($18.6 million) this year, from 134 billion rupiah in 2007, Corporate Secretary Nurziman Nurdin said at a briefing in Jakarta. The stock dropped 85 rupiah, or 36 percent, to 150.

Cathay Pacific Airways Ltd. (293 HK): Hong Kong's largest carrier posted an 0.7 percent decline in September passenger numbers, the first drop in 20 months, as the credit crunch deterred travelers from taking trips. The airline flew 1.88 million passengers last month, it said in an e-mailed statement. The stock jumped 70 cents, or 7.1 percent, to HK$10.60.

China Southern Airlines Co. (1055 HK): Asia's largest carrier by passenger numbers reported a 1.1 percent decline in traffic last month as the government curbed Beijing flights to cut emissions around the Olympics and Paralympics. The airline flew 4.96 million travelers last month, it said on its Web site. China Southern rose 4 cents, or 3.3 percent, to HK$1.24.

Hyundai Motor Co. (005380 KS): South Korea's largest automaker will spend 214 billion won ($173 million) building an automatic transmission plant in Ulsan, home to its biggest domestic factory. Construction will begin this month and be completed by the end of 2009, the Seoul-based carmaker said in a regulatory filing. The stock dropped 200 won, or 0.3 percent, to 68,400.



Malayan Banking Bhd. (MAY MK): Permodalan Nasional Bhd., a Malaysian state asset manager, bought 1 million shares in the nation's biggest bank, lifting its stake to 271.5 million shares, or 5.6 percent, a stock exchange filing showed. Permodalan bought the shares on Oct. 8, it said in the filing. Maybank has fallen 28 percent in one month. It was unchanged at 5.55 ringgit.

Posco (005490 KS): Posco, Asia's third-biggest steelmaker, Hyundai Heavy Industries Co. and Hanwha Group submitted their final bids for a controlling stake in Daewoo Shipbuilding & Marine Engineering Co.. Posco spokeswoman Ko Min Jin said its joint bid with GS Group was submitted to Korea Development Bank, Daewoo Shipbuilding's biggest creditor. Posco rose 18,500 won, or 5.2 percent, to 376,500. Hyundai Heavy (009540 KS), the world's largest shipbuilder, climbed 4,000 won, or 2 percent, to 201,000. Daewoo Shipbuilding (042660 KS) rose 1,650 won, or 9.2 percent, to 19,500.

Petra Perdana Bhd. (PETR MK): The Malaysian oil and gas services provider said its Petra Marine Australia Pty joint- venture unit signed its first time-charter contract with Murphy Australia Pty. The contract involves Petra providing a vessel for 62 days with an option to extend for a further 30 days, it said in a statement. Petra added 2 sen, or 0.8 percent, to 2.67 ringgit.

Reliance Communications Ltd. (RCOM IN): India's second- largest mobile-phone operator, added 1.76 million subscribers in September, the Mumbai-based company said in a text message. Reliance jumped 43.6 rupees, or 18 percent, to 282.1.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.