PLDT, Sun Hung Kai, Sembcorp: Asia Ex-Japan Equity Preview

By Anuchit Nguyen

Nov. 5 (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.

Developers: Hong Kong's home sales fell for a fourth straight month in October as local lenders tightened mortgage lending amid a slowdown in the economy. Sales of residential units dropped 63 percent by value from a year earlier to HK$16.3 billion ($2.1 billion), the Land Registry said yesterday.

Sun Hung Kai Properties Ltd. (16 HK), Hong Kong's No. 1 property developer by market value, climbed 50 cents, or 0.7 percent, to HK$71. Cheung Kong (Holdings) Ltd. (1 HK), the second biggest, added HK$1.20, or 1.6 percent, to HK$77.85.

Asia Commercial Bank (ACB VN): The Vietnamese lender partly owned by Standard Chartered Plc said its 10-month pretax profit rose 31 percent from the same period last year to 1.7 trillion dong ($101 million), boosted by loans and trading income. The stock advanced 1,700 dong, or 3.9 percent, to 45,000.

Brem Holding Bhd. (BREM MK): The Malaysian builder said it has no knowledge or information on a report in the Edge newspaper that said it may win a 600 million ringgit contract to build a 12 kilometer (7.5 mile) road. Brem rose 2 sen, or 2 percent, to 1.02 ringgit.

Indo Mines Ltd. (IDO AU): An Australian minerals explorer signed a mining contract with the Indonesian government for a $600 million pig-iron plant in the province of Yogyakarta. PT Jogja Magasa Iron, in which Indo Mines has a 70 percent stake, signed a 30-year so-called contract of work with the government, Indonesian Energy and Mining Minister Purnomo Yusgiantoro told reporters. The stock fell 3 cents, or 7.5 percent, to 37 cents.

Jollibee Foods Corp. (JFC PM): The biggest local fast-food company said its treasurer acquired 78,333 shares on Oct. 29 when the stock rose 6.2 percent. Jollibee gained 50 centavos, or 1.1 percent, to 46.50 pesos.

Philippine Long Distance Telephone Co. (TEL PM): The owner of the nation's No. 1 and third-largest mobile phone service providers said 2009 will be a tougher period and that it expects next year's profit net of one-off items to exceed 37 billion pesos ($763 million). PLDT, as the stock is called, lost 10 pesos, or 0.5 percent, to 2,015 pesos.

Rizal Commercial Banking Corp. (RCB PM): The fifth-biggest Philippine bank by asset said Chairwoman Helen Dee bought 283,000 shares on Oct. 29 and Oct. 30, when the stock rose 5.3 percent. Rizal fell 25 centavos, or 2.3 percent, to 10.75 pesos.

Sembcorp Marine Ltd. (SMM SP): The world's second-biggest oil-rig maker said third-quarter profit rose 73 percent to a record S$140.9 million ($95 million), or 6.8 cents a share, on demand for offshore rigs and ship repairs. Sales dropped 2.3 percent to S$1.14 billion, Singapore-based Sembcorp Marine said.

Singapore Airlines Ltd. (SIA SP): Asia's most profitable carrier will lower surcharges by as much as $15 after jet fuel prices declined. The airline, which last cut its levies on Sept. 8, will reduce the charge on tickets issued from Nov. 7 for economy class flights by between $8 and $15, the company said in a statement to the stock exchange. Surcharges on business class trips will fall by between $4 and $10, the airline said. The airline gained 20 cents, or 1.7 percent, to S$12.12.

Singapore Technologies Engineering Ltd. (STE SP): Asia's biggest aircraft maintenance company expects full-year net income to decline due to a global economic slowdown. The slowdown ``could lead to weakened demand in some parts of our business,'' the company, also known as ST Engineering, said in a statement to the Singapore stock exchange. The stock lost 6 cents, or 2.4 percent, to S$2.44.

Titan Chemicals Corp. (TTNP MK): Malaysia's biggest petrochemical maker said third-quarter profit fell 87 percent to 9.7 million ringgit because of a ``margin squeeze'' and it wrote down the value of inventories following the slide in crude oil. Sales climbed 28 percent to 2.04 billion ringgit, it said in a statement. Titan climbed 4.5 sen, or 6 percent, to 79.5 sen.

VADS Bhd. (VADS MK): The Malaysian phone services provider controlled by Telekom Malaysia Bhd. said it received a 104 million ringgit contract to provide contact centre services for PT Excelcomindo Pratama, Indonesia's third-largest mobile-phone operator. VADS was unchanged at 7.20 ringgit.

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