Compal, Huaneng, Singapore Air: Asia Ex-Japan Equity Preview

By Anuchit Nguyen

Nov. 7 (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.

Indonesian banks: Indonesia will reduce gasoline prices by 8.3 percent starting Dec. 1 as global crude oil prices fall, Finance Minister Sri Mulyani Indrawati said. A lower fuel price may ease inflation in the Southeast Asian nation, helping boost the economy.

PT Bank Mandiri (BMRI IJ), Indonesia's biggest by assets, fell 180 rupiah, or 9.5 percent, to 1,720 and PT Bank Central Asia (BBCA IJ), the largest by assets, lost 75 rupiah, or 2.6 percent, to 2,775.

Ayala Land Inc. (ALI PM): The biggest Philippine developer said bought 32.83 million more shares than it sold in the company, boosting its stake in the builder to 12.84 percent last month when the stock slumped 36 percent. Ayala fell 10 centavos, or 1.6 percent, to 6.20 pesos.

Aboitiz Transport System Corp. (ATS PM): The largest Philippine shipping line said it posted a 49.4 million peso nine- month loss, compared with a 481 million peso profit a year earlier on higher fuel cost and after posting a one-time gain in 2007. The stock gained 2 centavos, or 1.2 percent, to 1.66 pesos.

Aluminum Corp. of China Ltd. (2600 HK): China's biggest aluminum maker said it idled 38 percent of its alumina capacity because of falling prices and demand. Chalco, as the Beijing- based company is known, has shut 4.11 million metric tons of annual production capacity as of Nov. 5, it said in a filing to the Hong Kong stock exchange. The stock dropped 39 cents, or 12 percent, to HK$2.86.

BHP Billiton Ltd. (BHP AU): The world's largest mining company said a damaged iron ore car dumper at its Port Hedland operations in Western Australia has been repaired. The car dumper ``has resumed normal operations,'' Peter Ogden, a spokesman for the Melbourne-based company, said. BHP dropped A$2.40, or 7.6 percent, to A$29.20.

Cathay Financial Holding Co. (2882 TT): Taiwan's largest listed financial-services company will raise NT$20 billion ($609 million) to inject funds into its life insurance unit. Cathay will invest NT$15 billion of the raised money into its Cathay Life Insurance Co. subsidiary with the remainder to be used as a cash reserve, Lee Chang-ken, Chief Strategy Officer of the Taipei-based company said. Cathay Financial lost NT$2.7, or 6.9 percent to NT$36.35.

Compal Electronics Inc. (2324 TT): The world's second- largest contract manufacturer of notebook computers expanded its investment in Brazil by more than 50 percent to boost the scope of laptop production in the country. Taiwan-based Compal has invested NT$308.9 million ($9.4 million) in its Brazilian unit, according to an exchange filing, exceeding the NT$200 million it said in August it would spend. Compal fell NT$1.70, or 6.8 percent, to NTS23.25.

Huaneng Power International Inc. (902 HK): The unit of China's biggest power producer plans to issue bonds worth as much as 10 billion yuan ($1.47 billion) to fund its expansion. The company will have a shareholders meeting on Dec. 23 to review the plan, Huaneng Power said in a statement to the Shanghai Stock Exchange. Huaneng declined 54 cents, or 14 percent, to HK$3.45.

Macquarie Bank Ltd. (MQG AU): Barclays Plc, the U.K.'s second-biggest bank, completed the acquisition of the Italian residential mortgage unit of Macquarie. The mortgage assets had an outstanding balance of 1.1 billion euros ($1.4 billion), London-based Barclays said. Barclays also acquired Macquarie's operational support and employees, it said. The stock lost A$3.20, or 9.1 percent, to A$31.80.

NTPC Ltd. (NATP IN): India's biggest power generator is looking for a joint-venture partner to set up cement plants. NTPC will supply fly ash, which is the most important raw material, said R.K. Jain, director-technical. The partner would take care of the manufacturing, he said. The stock retreated 3.1 rupees, or 2.1 percent, to 144.4.

San Miguel Corp. (SMC PM): The largest Philippine food and drinks company said it tripled its nine-month profit to 20.9 billion pesos and that it's in talks to acquire at least 51 percent of PT Bumi Resources, Asia's largest coal-station exporter. San Miguel Class A shares, which are reserved for Filipinos, fell 2 pesos, or 4 percent, to 48 pesos. Its Class B shares (SMCB PM), which have no ownership restrictions, decreased 1 peso, or 2 percent, to 48.50 pesos.

Shanghai Electric Group Co. (2727 HK): China's largest maker of power equipment received written approval today from the China Securities Regulatory Commission for a plan to sell yuan shares as part of a merger. Shanghai Electric announced in July it planned to sell 616 million yuan-denominated shares on the Shanghai stock exchange to enable a merger with Shanghai Power Transmission & Distribution Co., in which it owns an 84 percent stake. Shanghai Electric lost 17 cents, or 6.9 percent, to HK$2.30.

Singapore Airlines Ltd. (SIA SP): The world's largest carrier by market value said profit in the three months ended Sept. 30 fell 36 percent, the biggest decline in more than three years, to S$323.8 million ($219 million), or 27.1 cents a share, after it paid more for jet fuel and filled fewer seats. Sales climbed to S$4.38 billion from S$3.97 billion. Singapore Air lost 88 cents, or 7.2 percent, to S$11.40.

Telstra Corp. (TLS AU): Australia's largest phone company, said it could fund the construction of a national broadband network from internal cash resources if required to. Setting up the high-speed internet network would be a ``massive'' and ``complex'' project, Chief Executive Officer Sol Trujillo said at a media briefing. Telstra rose 3 cents, or 0.7 percent, to A$4.21.

Unisem (M) Bhd. (UNI MK): Malaysia's second-biggest semiconductor packager said third-quarter profit fell 21 percent to 24.6 million ringgit from a year earlier after higher foreign exchange losses and rising utilities costs countered an increase in sales. Sales rose 8.8 percent to 331.2 million ringgit, boosted by its China unit, it said in a statement. It said the global financial turmoil will have an ``adverse'' impact on the company's operations. Unisem lost 5.5 sen, or 5.8 percent, to 89.5 sen.

Vista Land & Lifescapes Inc. (VLL PM): The fifth-biggest Philippine builder by value said it extended by six months a $25 million share buyback after it has used up only 478 million pesos with the purchase of 179.2 million shares. The stock decreased 6 centavos, or 5.5 percent, to 1.04 pesos.

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