Fubon, MAA, Philex, Posco, Quanta: Asia Ex-Japan Equity Preview

By Berni Moestafa

Oct. 9 (Bloomberg) -- The following companies may have unusual price changes today in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.

Cathay Financial Holding Co. (2882 TT): Taiwan's biggest financial services company posted a 50 percent drop in third- quarter profit as the value of investments linked to Lehman Brothers Holdings Inc. and other securities declined. Cathay Financial slid NT$2.7, or 6.9 percent, to NT$36.45.

Energy Development Corp. (EDC PM): The largest Philippine producer of geothermal energy said it awarded a civil and mechanical works contract to affiliate First Balfour Inc., which made the lowest bid of 360 million pesos ($7.6 million) for the services. Energy fell 40 centavos, or 11 percent, to 3.30 pesos. First Philippine Holdings Corp. (FPH PM), which owns shares in First Balfour, fell 1.50 pesos, or 8.6 percent, to 16 pesos.


First Gen Corp. (FGEN PM): The largest Philippine non-state power producer may borrow less than its initial $700 million plan because the global credit crisis have increased funding costs, President Federico Lopez said, adding that the company will be able to refinance its debt. The stock fell 1 peso, or 6.2 percent, to 15.25 pesos.

Fubon Financial Holding Co. (2881 TT): Taiwan's second- largest financial services company by market value posted a 34 percent drop in nine-month profit to NT$9.75 billion ($118 million) on writedowns of investments linked to Lehman Brothers Holdings Inc. Fubon declined NT$1.35, or 6.8 percent, to NT$18.6.

MAA Holdings Bhd. (MAA MK): The Malaysian insurer said it isn't aware of any intention to take the company private. The Business Times newspaper reported its shareholders may buy out the insurance company and take it private. MAA rose 2 sen, or 3.5 percent, to 6 sen.

MISC Bhd. (MISC MK): The Malaysian shipping group said it received a $1 billion transferable five-year term loan for ``general corporate purposes.'' The loan facility was arranged by Bank of Tokyo-Mitsubishi UFJ Ltd., BNP Paribas, Mizuho Corporate Bank Ltd., OCBC (Malaysia) Bhd. and Sumitomo Mitsui Banking Corp., said MISC in a statement. MISC fell 5 sen, or 0.6 percent, to 8.40 ringgit.

Philex Mining Corp. (PX PM): The largest Philippine miner said its board approved the 6.17 billion peso sale of a 20 percent stake to First Pacific Co. (142 HK) at the objection of the Social Security System, which said it should have been given the option to acquire the block as an existing shareholder of the metals producer. Philex fell 30 centavos, or 4.3 percent, to 6.70 pesos. First Pacific lost 22 cents, or 5.3 percent, to HK$3.95.

Posco (005490 KS): Asia's largest maker of stainless steel may produce less of the rust-proof metal this year than initially planned because of slowing demand. The South Korean steelmaker had originally planned to produce 1.7 million metric tons this year, said Choi Doo Jin, a spokesman at the company. Posco lost 23,000 won, or 5.9 percent, to 364,000.

Quanta Computer Inc. (2382 TT): The world's largest maker of notebook computers cut its forecast for full-year shipments as a slowing global economy hurts demand. Laptop sales will be 38 million to 40 million units, from the company's earlier forecast of at least 40 million, Tim Li Chief Financial Officer of Taoyuan, Taiwan-based Quanta said. Quanta dropped NT$2.55, or 7 percent, to NT$34.15.

-With reporting by Ian C. Sayson in Manila and Chan Tien Hin in Kuala Lumpur. Editor:

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net