By Berni Moestafa
Jan. 16 (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 Korean Banks: The nation’s financial institutions including Kookmin Bank, Korea Development Bank and Woori Finance Holdings Co. were placed on review for possible downgrade, Moody’s Investors Service said. KB Financial Group Inc. (105560 KS), parent of Kookmin Bank, fell 3,550 won, or 9.2 percent, to 35,200. Woori Finance (053000 KS), parent of the nation’s second-biggest bank, fell 940 won, or 11 percent, to 7.560.
Ascendas Real Estate Investment Trust (AREIT SP): Singapore’s second-biggest property trust may raise as much as S$410.6 million ($274 million) from a placement and an offering of preferred units, a sale document indicated. The trust will sell 353.9 million new units, or a 21 percent stake, to investors at S$1.13 to S$1.16 each, according to the document. Ascendas dropped 10 cents, or 7.4 percent, to S$1.26.
Ayala Corp. (AC PM): The fifth-biggest Philippine company by market value said in a statement to the stock exchange that it has invested all the 5.95 billion pesos ($126 million) it raised from the sale of preferred shares. The stock fell 9 pesos, or 3.9 percent, to 223 pesos.
Baoshan Iron & Steel Co. (600019 CH): The company’s parent, Baosteel Group Corp. and its competitors may have to limit domestic prices of iron ore sold from their inventories, said two people familiar with the situation. Baoshan lost 0.04 yuan, or 0.8 percent, to 5.09 yuan.
BHP Billiton Ltd. (BHP AU): The world’s biggest mining company agreed to pay Mitsubishi Materials Corp. 70 percent more in 2009 copper processing fees, the first increase in three years. BHP fell A$2.04, or 6.6 percent, to A$28.90.
BIMB Group Holdings Bhd. (BIMB MK): The Malaysian Islamic banking group said in a statement to the exchange that its Bank Islam Malaysia Bhd. unit hasn’t discussed or concluded any terms with a potential partner to expand its business. BIMB, last traded on Jan. 14, declined 1.1 percent to 90 sen.
Cathay Pacific Airways Ltd. (293 HK): Hong Kong’s largest carrier won approval to delay construction of a new cargo terminal in the city by two years as global recession damps trade demand. Cathay Pacific fell 21 cents, or 2.4 percent, to HK$8.38.
China Southern Airlines Co. (1055 HK): The company opened a representative office in Taipei yesterday, becoming the first Chinese airline to gain a foothold in the Taiwan market, Deutsche Presse-Agentur reported on its Web site. China Southern, the nation’s largest carrier, retreated 3 cents, or 2.3 percent, to HK$1.26.
Dongfang Electric Corp. (1072 HK): China’s second-biggest power-equipment maker said 2008 profit will more than halve from a year earlier after a May 12 earthquake destroyed a factory and killed workers. Dongfang retreated 0.86 cents, or 4.8 percent, to HK17.10.
Manila Water Co. (MWC PM), the utility that serves the eastern half of the nation’s capital, said it’s open to increasing rates in stages to soften the blow on consumers, and a delay in the adjustment will not hurt its business. The company made the statement after the water regulator said it didn’t allow the utility to raise rates in February. Manila Water fell 1 peso, or 7.3 percent, to 12.75 pesos.
Philippine National Bank (PNB PM): The fourth-biggest domestic bank by assets said in a filing to the stock exchange that the central bank allowed it to pay 3 billion pesos of debt ahead of a 2015 maturity. PNB, as the stock is called, fell 50 centavos, or 3.5 percent, to 14 pesos.
Posco (005490 KS): Asia’s third-biggest steelmaker posted a 721 billion won ($521 million) fourth-quarter profit, missing analysts’ estimates. The company also said that it will cut crude steel production by up to 12 percent this year. The stock slipped 20,000 won, or 5.3 percent, to 359,000 won.
TM International Bhd. (TI MK): The Malaysian state-owned fixed-line phone operator said it is seeking permission from the Securities Commission to extend to as late as July 29 a deadline to implement its sale of as much as 10 percent of stock. The earlier regulatory approval TM received for the proposed stake sale expires on Jan. 29, TM said in a statement to the exchange. TM lost 16 sen, or 4.4 percent, to 3.46 ringgit.
Woodside Petroleum Ltd. (WPL AU): Australia’s second- biggest oil and gas producer made an oil and gas discovery in Libya’s western region of Ghadames, Libya’s National Oil Corp. said. Woodside fell 1.60 cents, or 4.5 percent, to A$34.05.
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
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