Economic Calendar

Monday, November 3, 2008

Acer, CapitaLand, Hana, Hyundai: Asia Ex-Japan Equity Preview

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By Berni Moestafa

Nov. 3 (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.

Acer Inc. (2353 TT): The world's third-largest computer supplier posted a 4 percent increase in third-quarter profit. Net income climbed to NT$3.04 billion ($92.7 million), it said. Acer fell 20 cents, or 0.5 percent, to NT42.94.

Cahya Mata Sarawak Bhd. (CMS MK): The Malaysian builder said it agreed to extend until Nov. 30 an agreement with Rio Tinto Group on the proposed design, construction and operation of an aluminum smelter in the eastern Sarawak state. A preliminary was signed in August 2007. Cahya rose 4 sen, or 3.6 percent, to 1.15 ringgit.

CapitaLand Ltd. (CAPL SP): Southeast Asia's largest property developer said third-quarter profit fell 26 percent to S$419.4 million ($283 million) after slowing economic growth hurt demand for homes in Singapore, China and Australia. CapitaLand was unchanged at S$2.85.

Dongkuk Steel Mill Co. (001230 KS): The supplier of about a third of the metal used by South Korean shipbuilders will shut one of its two ship-plate plants for maintenance work. The No.2 plant located in Pohang, south of Seoul, will go offline for a month from Nov. 1, the company said. Dongkuk Steel climbed 2,550, or 14 percent, to 20,500.

Evergreen Marine Corp. (2603 TT): Asia's biggest container- shipping line posted a worse-than-expected 94 percent decline in third-quarter profit as an economic slowdown damped world trade. Net income plunged to NT$291 million, Daphne Tsai, a public relations officer, said. Evergreen rose NT$1.1, or 6.9 percent, to NT$16.95.

Hana Financial Group Inc. (086790 KS) which controls South Korea's fourth-biggest bank, said it posted a net loss of 73.3 billion won ($56.7 million) in the third quarter. That compares with last year's net income of 392.7 billion won, it said. Hana Financial, fell 1,100 won, or 5.2 percent, to 20,000.

HTC Corp. (2498 TT): The world's largest maker of handsets that use Microsoft Corp.'s Windows operating system said it expects fourth-quarter sales to climb by about 25 percent. HTC gained NT$17, or 4.5 percent, to NT$393.5.

Hyundai Mobis Co. (012330 KS): South Korea's biggest auto- parts maker will buy affiliate Hyundai Autonet Co. in a deal valued at about 690 billion won to expand its range of electronic components. Hyundai Mobis declined 5,100 won, or 6.4 percent, to 74,900.

Hyundai Steel Co. (004020 KS): South Korea's second-largest maker of the metal will cut prices of construction products by as much as 9.8 percent after costs of scrap metal, a raw material, declined amid slowing demand. Hyundai rose 4,150 won, or 13 percent, to 36,600.

Kasikornbank Pcl (KBANK TB): Thailand's fourth-largest lender by assets expects its loan portfolio to grow by more than 17 percent this year, beating a company target, as customers borrow more to pay for higher raw-material costs. Kasikorn was unchanged at 50 baht.

Oilex Ltd. (OEX AU): The Australian oil and gas explorer said its Cambay-74 well in India is producing more than 500 barrels of oil a day. Oilex rose 5.5 cents, or 10 percent, to 59.5 Australian cents.

PT Aneka Tambang (ANTM IJ): Indonesia's second-largest publicly listed metal producer posted a 58 percent drop in profit as nickel prices declined and production costs surged. Net income fell to 1.62 trillion rupiah ($149 million), it said. Aneka added 30 rupiah, or 3 percent, to 1,040.

PT Timah (TINS IJ): The world's second-biggest tin miner and refiner said profit fell 21 percent to 379.9 billion rupiah as it sold less of the metal and production costs surged. Timah added 80 rupiah, or 7.4 percent, to 1,160.

Quanta Computer Inc. (2382 TT): The world's largest contract manufacturer of notebook computers reported an unexpected increase in third-quarter profit, helped by a one-time foreign- exchange gain. Net income rose to NT$7.21 billion, it said. Quanta advanced 25 cents, or 0.7 percent, to NT34.4.

Shinhan Financial Group Co. (055550 KS): The company which controls South Korea's third-biggest bank posted a bigger-than- expected 38 percent drop in third-quarter profit as it set aside more provisions against bad loans. Net income fell to 323.3 billion won, it said. Shinhan fell 1,700 won, or 5.2 percent, to 31,300.

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




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