By Berni Moestafa
Nov. 25 (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.
Banco de Oro Unibank Inc. (BDO PM): The 12-month share price target of the largest Philippine bank by assets was cut 27 percent to 22.225 pesos by Credit Suisse Group, after keeping the stock’s rating at “neutral.” The stock fell 50 centavos, or 2.3 percent, to 21.75 pesos.
Hynix Semiconductor Inc. (000660 KS): Credit Suisse Group and a group comprising of Woori Investment & Securities Co. and Korea Development Bank were hired to arrange the sale of a controlling stake in the company. Hynix, the world’s second- largest computer-memory maker, retreated 810 won, or 13 percent, to 5,850.
PT Adaro Energy (ADRO IJ): A unit of PT Perusahaan Listrik Negara, Indonesia’s state utility, plans to buy 220,000 tons of coal from Adaro, said Tonny Agus Mulyantono, president director of Listrik Negara’s unit PT Indonesia Power. Adaro, Indonesia’s second-biggest coal miner, declined 10 rupiah, or 2.1 percent, to 470.
PT Bumi Resources (BUMI IJ): Asia’s biggest thermal coal exporter decided to delay its Dec. 10 shareholders meeting until further notice, the company said in a statement. Bumi, which didn’t explain the delay, was unchanged at 710 rupiah.
PT Tambang Batubara Bukit Asam (PTBA IJ): The company that holds a quarter of Indonesia’s coal reserves may ask for a lower price to acquire a stake in Bumi, Bukit Asam President Director Sukrisno said. The company will decide on the price and its plan to buy the shares this week, he said. Bukit Asam fell 250 rupiah, or 4.6 percent, to 5,150.
RHB Capital Bhd. (RHBC MK): Malaysia’s fourth-largest bank said third-quarter profit jumped 55 percent to 358.3 million ringgit ($99 million) from a year earlier, boosted by higher loan recoveries while income from Islamic banking climbed. RHB Capital was unchanged at 3.64 ringgit.
Rio Tinto Group (RIO AU): The world’s third-biggest mining company was cut to “hold” from “buy” at ING Groep NV, which cited an increased risk of debt default and difficulties in meeting asset sales targets. Rio Tinto lost 21 cents, or 0.4 percent, to A$59.80.
Rizal Commercial Banking Corp. (RCB PM): The fifth-biggest Philippine bank by assets said it will acquire smaller rivals as part of its strategy to boost its branch network. Rizal gained 10 centavos, or 1.1 percent, to 9.50 pesos.
Straits Asia Resources Ltd. (SAR SP): The Singapore-listed coal supplier whose stock has more than halved in three months said it has received the first drawdown of a $300 million loan from Standard Chartered Plc. Straits Asia slid 4.5 cents, or 6.7 percent, to 63 Singapore cents.
TKC Steel Corp. (T PM): The largest Philippine maker of billets plans said its unit Treasure Steelworks Corp. will temporarily halt production today and until January 2009 to upgrade its furnace. TKC gained 10 centavos, or 4 percent, to 2.60 pesos.
UMW Holdings Bhd. (UMWH MK): The Malaysian auto and engineering group said third-quarter profit rose 9.8 percent to 152.7 million ringgit from a year earlier, boosted by higher vehicle sales. Revenue climbed 20 percent to 3.3 billion ringgit, it said in a statement. UMW was unchanged at 5.40 ringgit.
WCT Bhd. (WCT MK): The Malaysian builder of a Formula One circuit in Abu Dhabi, said it won an additional 1.2 billion ringgit of work for the project. The additional order increased the total contract value to 3.3 billion ringgit, it said in a statement. WCT fell 2 sen, or 1.3 percent, to 1.51 ringgit.
-With reporting by Ian C. Sayson in Manila and Chan Tien Hin in Kuala Lumpur. Editor: Malcolm Scott.
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
Posts
No comments:
Post a Comment