Bumi, China Mobile, KNM, Shinhan: Asia Ex-Japan Equity Preview

By Berni Moestafa

Dec. 5 (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 otherwise noted.

China Mobile Ltd. (941 HK): The company’s Hong Kong subsidiary, China Mobile Peoples Telephone Co., will be renamed China Mobile Hong Kong Co. from today. The unit will retain the Peoples brand in its marketing, according to an e-mailed statement. China Mobile, the world’s biggest phone company by value, added HK$1.15, or 1.6 percent, to HK$73.20.

KNM Group Bhd. (KNMG MK): The oil and gas equipment company’s managing director Lee Swee Eng acquired 1 million shares, lifting his stake to 25.4 percent, a stock exchange filing showed. KNM dropped 0.5 sen, or 1 percent, to 49 sen.

PT Astra International (ASII IJ): The Indonesian company’s unit, PT Toyota-Astra Motor, said sales in November gained 29.3 percent from a year earlier to 20,839 units. Total car sales in Indonesia rose 2.6 percent to 47,000 in November, Toyota-Astra said. Astra, the nation’s biggest auto retailer, fell 150 rupiah, or 1.7 percent, to 8,800.

PT Bumi Resources (BUMI IJ): Asia’s biggest thermal coal exporter should refrain from raising funds in the debt market to finance an 8.25 trillion rupiah ($694 million) share buyback plan, the Indonesia Stock Exchange said. The bourse “suggests that it use internal cash” to buy back the shares, Exchange President Erry Firmansyah said. Jakarta-based Bumi climbed 40 rupiah, or 5.2 percent, to 810.

PT Global Mediacom (BMTR IJ): The company’s mobile-phone unit said it may ask bondholders to convert debt into equity or agree to an extension of maturity as it cannot meet demands for early redemption. PT Mobile-8 Telecom seeks to renegotiate $100 million in debt with bondholders who asked for early repayment, Mobile-8 President Director Wityasmoro Sih Handayanto said. Global Mediacom, Indonesia’s biggest media company, was unchanged at 168 rupiah.

Shinhan Financial Group Co. (055550 KS): The company that controls South Korea’s third-biggest bank plans to raise about 500 billion won ($338 million) from a bond sale to bolster some subsidiaries and repay maturing debt. Shinhan fell 900 won, or 2.8 percent, to 30,750.

United Microelectronics Corp. (2303 TT): The world’s second-largest maker of custom chips asked employees to take their leave to cut costs after the company stopped hiring in the third quarter. United Microelectronics fell 14 cents, or 2 percent, to NT$6.9.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net