By Berni Moestafa
Dec. 20 (Bloomberg) -- The following companies may have unusual price changes in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Aboitiz Power Corp. (AP PM): The Philippine power producer and distributor said it raised funds for acquisitions, borrowing 3.89 billion pesos or 9.3 percent more than initially planned. Aboitiz Power was unchanged at 3.80 pesos.
Benguet Corp. (BC PM): The fifth-largest Philippine mining company by market value said it won a bidding contest to reopen a Philippine copper and gold mine that’s been shut for more than two decades. The stock fell 15 centavos, or 3 percent, to 4.85 pesos on Dec. 17.
PT Bumi Resources (BUMI IJ): Valco Corp., an Indonesian energy company, plans to make a rival bid to buy PT Bakrie & Brothers’ debt and take shares of Bumi that were pledged as collateral. Bumi, Asia’s biggest exporter of power-station coal, declined 20 rupiah, or 2.3 percent, to 870.
Glomac Bhd. (GLMC MK): The Malaysian developer and builder said profit for the fiscal second quarter, which ended Oct. 31, fell 25 percent to 7.7 million ringgit ($2.2 million) from a year earlier. Glomac was unchanged at 49 sen.
Guangdong Nan Yue Logistics Co. (3399 HK): The logistics company will buy a real estate company from its parent for 92.96 million yuan ($14 million) in cash. Guangdong added 14 cents, or 9.6 percent, to HK$1.60.
Hon Hai Precision Industry Co. (2317 TT): The world’s largest contract electronics maker is cutting some jobs globally amid the global recession, founder and Chairman Terry Gou said today, without saying how many workers will be fired. Hon Hai gained 50 cents, or 0.7 percent, to NT$68.5.
Incitec Pivot Ltd. (IPL AU): Australia’s largest fertilizer maker said it won’t reduce output as its global peers are doing. Incitec slid 10 cents, or 3.9 percent, to A$2.45.
Megaworld Corp. (MEG PM): The third-largest Philippine developer said it expects 1.4 billion pesos ($30 million) in sales from a 31-story apartment tower it’s building in the nation’s main financial district. The stock gained 1 centavo, or 1.4 percent, to 72 centavos.
Posco (005490 KS): Asia’s third-largest steelmaker will exchange 300 billion won ($232 million) of its shares for a stake in KB Financial Group Inc. Posco will swap about 770,000 shares for stock that Kookmin Bank, South Korea’s largest, holds in parent KB Financial, the Pohang, South Korea-based company said. Posco fell 4,500 won, or 1.2 percent, to 388,000.
Rio Tinto Group (RIO AU): The world’s third-biggest mining company said it may delay the development of its $1.5 billion nickel project in Indonesia. Rio will wait for new mining regulations to be implemented in about six months, said Omar Anwar, president director of Rio’s Indonesian unit. The parliament on Dec. 16 endorsed the new mining bill. Rio lost 99 cents, or 2.5 percent, to A$39.01.
SK Telecom Co.(017670 KS): South Korea’s biggest mobile- phone company named Jung Man Won, head of affiliate SK Networks Co., as its new chief executive officer. Jung, 56, will replace Kim Shin Bae, who will move to SK C&C Co. as vice-chairman as part of a management reshuffle, Seoul-based SK Telecom said. SK Telecom added 4,000 won, or 1.9 percent, to 218,000.
United Food Holdings Ltd. (UFH SP): The Linyi, Shandong- based meat-processing company, said it’s reducing losses by temporarily shutting its the processed-meats and fresh, chilled and frozen pork divisions. United Food was unchanged at 5 Singapore cents.
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
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