By Berni Moestafa
Jan. 15 (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.
South Korea automakers: Hyundai Motor Co. (005380 KS) and Kia Motors Corp. (000270 KS) had their long-term debt ratings cut to BB+ from BBB- at Fitch Ratings, the rating company said in a statement. Hyundai advanced 2,000 won, or 4.4 percent, to 48,000 and Kia rose 290 won, or 3.9 percent, to 7,790
Aboitiz Equity Ventures Inc. (AEV PM): The company with investments in energy and finance said Chairman Jon Aboitiz acquired 3.72 million shares in the open market on Jan. 9 at 5.45 pesos each. The company also said that another executive bought 415,702 shares at the same price that day. The stock lost 10 centavos, or 1.7 percent, to 5.80 pesos.
Arrow Energy Ltd. (AOE AU): The Australian company signed a preliminary agreement with Oil & Natural Gas Corp., India’s biggest exploration company, to jointly bid for coal-seam methane blocks globally. Arrow rose 12 cents, or 5.5 percent, to A$2.32.
BHP Billiton Ltd. (BHP AU): The world’s biggest mining company agreed with Pan Pacific Copper Co. to raise 2009 processing fees by about 70 percent, the first increase in three years. BHP rose 51 cents, or 1.7 percent, to A$30.94.
CapitaLand Ltd. (CAPL SP): Southeast Asia’s biggest developer said it’s seeking to reduce its utility costs by as much as S$4 million ($2.7 million) this year as part of its policy to protect the environment. CapitaLand gained 1 cent, or 0.4 percent, to S$2.84.
Fortescue Metals Group Ltd. (FMG AU): Australia’s third- largest exporter will join for the first time annual talks with Chinese steelmakers to negotiate iron ore prices, the 21st Century Business Herald reported, citing Shan Shanghua, secretary in general of China Iron and Steel Association. Fortesque advanced 12.5 cents, or 6.7 percent, to A$2.05.
Hynix Semiconductor Inc. (000660 KS): The world’s second- biggest computer-memory maker had the rating on two senior unsecured notes cut by one level to B at Standard & Poor’s. The stock lost 340 won, or 4.8 percent, to 6,730 won.
JG Summit Holdings Inc. (JGS PM): UOL Group Ltd. (UOL SP), Singapore’s fourth-largest developer by assets, said it’s offering to buy United Industrial Corp. (UIC SP), a real-estate investment company, at $1.20 a share. JG Summit, which owns 35.1 percent of UIC, rose 4 centavos, or 2 percent, to 2.02 pesos.
MBM Resources Bhd. (MBM MK): The Malaysian automobile distributor said it agreed to form a joint venture with its Federal Auto Holdings Bhd. unit to develop a 26-story office building in Kuala Lumpur. The land to be developed is owned by Federal Auto, said MBM in a statement. MBM was unchanged at 2.28 ringgit.
Pelikan International Corp. (PELI MK): The stationery maker said it agreed to buy 81 percent of Indistri S.A., a maker and distributor of office and school stationeries, for $4.25 million. Pelikan was unchanged at 1.16 ringgit.
Rio Tinto Group (RIO AU): The company suspended a $320 million iron ore port project in Uruguay because of the global economic slowdown, Steel Business Briefing reported, without saying where it got the information. Rio Tinto advanced 26 cents, or 0.6 percent, to A$40.61.
Tenaga Nasional Bhd. (TNB MK: Malaysia’s government, controller of national utility Tenaga, said it will consider cutting electricity prices earlier than planned, three days before a by-election that the ruling party has said it must win. Under an earlier plan, the government was due to review electricity prices in June, the energy ministry said in a statement. Tenaga fell 5 sen, or 0.8 percent, to 6.40 ringgit.
TM International Bhd. (TI MK): The state-owned Malaysian mobile-phone operator said its group failed to win a license to sell mobile-phone services in Iran. TM said in a statement it will continue to consider other investment opportunities. TM was unchanged at 3.62 ringgit.
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
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