By Berni Moestafa
Dec. 1 (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.
AirAsia Bhd. (AIRA MK): Southeast Asia’s biggest discount airline posted its first loss since it went public in 2004 after it took a one-time charge for contracts tied to fuel hedging and trades by Lehman Brothers Holdings Inc. AirAsia reported a net loss of 465.5 million ringgit ($128.5 million) from 180 million ringgit a year earlier, it said in a statement. Sales climbed 43 percent to 658.5 million ringgit. AirAsia fell 2 sen, or 1.8 percent, to 1.11 ringgit.
BHP Billiton Ltd. (BHP AU): The world’s largest mining company hired Hubie van Dalsen from Rio Tinto Group as its head of metallurgical coal. Van Dalsen, who was until recently Rio’s Australian managing director of coal, will take up his position in Brisbane on Feb. 2, Melbourne-based BHP said. BHP rose A$2.2, or 7.6 percent, to A$31.
Chunghwa Telecom Co. (2412 TT): Taiwan’s largest phone operator will start selling Apple Inc.’s iPhone on the island Dec. 13, the company said in a statement. Chunghwa rose 30 cents, or 0.6 percent, to NT52.5.
Gome Electrical Appliances Holdings Ltd. (493 HK): The company replaced Chairman Huang Guangyu, moving to distance itself from its billionaire founder after he was detained by Chinese police. Chief Executive Officer Chen Xiao will be acting chairman of Gome, which is “unconnected” to the probe, China’s biggest electronics retailer by stores said. Shares of Gome are suspended and the stock last traded on Nov. 21 at HK$1.12.
Hyundai Steel Co. (004020 KS): South Korea’s second-largest maker of the metal will cut prices of construction products by 11 percent, the second such price reduction this year, after demand fell and costs of raw materials declined. Hyundai Steel fell 350 won, or 1.1 percent, to 32,950.
JES International Holdings Ltd. (JES SP): The company is unsure of the status of a South Korean shipper’s orders for four bulk carriers, Lloyd’s List said, citing the sales and marketing manager at the Chinese shipbuilder. Parkroad ordered four bulk carriers last year and paid 20 percent of the total purchase price so far, Lloyd’s List quoted JES’s Yang Li Feng as saying. JES was unchanged at 11 Singapore cents.
Jih Sun Financial Holdings Co. (5820 TT): Shinsei Bank Ltd., the Japanese buyer of General Electric Co.’s local consumer finance businesses, may invest NT$10 Billion ($300 million) in Taiwan’s Jih Sun. Jih Sun advanced 11 cents, or 4.2 percent, to NT$2.76.
Malaysian Airline System Bhd. (MAS MK): The nation’s largest carrier said third-quarter profit dropped 89 percent to 38.1 million ringgit from a year earlier amid higher oil prices. The carrier said it is “intensifying” cost cuts to stay profitable. Malaysian Airline fell 7 sen, or 2.7 percent, to 2.56 ringgit.
Sime Darby Bhd. (SIME MK): The Malaysian car seller, homebuilder and palm oil producer slashed its profit target for this financial year amid the global recession. Sime is aiming for net income of 1.9 billion ringgit ($525 million) in the year ending June 2009, compared with a previous target of 3.7 billion ringgit, it said. The company also said fiscal first-quarter profit rose 46 percent to 877 million ringgit. Sime was unchanged at 5.85 ringgit.
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
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