By Ian C. Sayson
Jan. 7 (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.
China railway construction-related stocks: China will start 80 railway projects this year with total investment of 1.5 trillion yuan ($219 billion), the Ministry of Railways said yesterday. Fixed-asset investment in railway lines this year will be 701 billion yuan, it said.
China Railway Group Ltd. (601390 CH), Asia’s largest construction company, said its subsidiaries won 25 billion yuan of new projects. Its shares rose 0.06 yuan, or 1.1 percent, to 5.64. China Railway Construction Corp. (601186 CH), builder of more than half the nation’s rail links since 1949, added 0.05 yuan, or 0.5 percent, to 10.41.
Atlas Consolidated Mining & Development Corp. (AT PM): The second-largest Philippine metals producer by market value said its Carmen Copper Mine made its first shipment of concentrates and will complete a second delivery by end of the month. The stock gained 25 centavos, or 8.5 percent, to 3.20 pesos.
Babcock & Brown Ltd. (BNB AU): The Australian asset manager whose stock tumbled 99 percent last year said it submitted a proposal to its creditors to swap assets for debt and that it expects a response next week. The stock jumped 13.5 cents, or 54 percent, to 38.5 Australian cents.
Courage Marine Group Ltd. (CMG SP): The Hong Kong-based owner and operator of dry-bulk carriers said its wholly owned unit has sold a vessel for $7 million to Goldcapital Asia Management Ltd. on Jan. 3, providing it with funds for working capital or acquisitions. Courage Marine, whose shares are traded in Singapore, jumped 0.5 cents, or 3.7 percent, to 14 Singapore cents.
DMCI Holdings Inc. (DMC PM): The largest Philippine construction company said Maynilad Water Services Inc., a venture with Metro Pacific Investments Corp. (MPI PM), will spend 168.1 billion pesos ($3.58 billion) in 2008 through 2022 for fees and upgrades of its service area. DMCI said separately that it got the 4.9 billion contract to build a condominium and hotel project for Kingdom Hotel Investments in Manila.
DMCI gained 15 centavos, or 5.5 percent, to 2.90 pesos. Metro Pacific, which owns the longest Philippine tollroad, fell 10 centavos, or 3.7 percent, to 2.60 pesos.
Fubon Financial Holding Co. Ltd. (2881 TT): The bank’s Hong Kong unit said employees at its credit arm have been questioned by the city’s anti-graft agency in relation to an alleged loan racket. “We reported the case ourselves,” Betty Chan, a Hong Kong-based Fubon Bank spokeswoman, said in a phone interview. “It has no impact on our balance sheet and it has nothing to do with our clients’ money.”
Fubon, Taiwan’s second-biggest financial services company, fell 75 cents, or 3 percent, to NT$23.9. Fubon Bank (Hong Kong) Ltd. (636 HK), the company’s Hong Kong unit, fell 12 cents, or 4.7 percent, to HK$2.44.
HTC Corp. (2498 TT): The Taiwanese maker of Google Inc.’s G1 mobile phone said fourth-quarter profit declined 19 percent to NT$8.1 billion ($245 million), even as handset sales climbed, because a new accounting rule raised costs. The stock fell NT$2, or 0.6 percent, to NT$340.
Lotte Chilsung Beverage Co. (005300 KS): South Korea’s biggest beverage maker said it will pay 503 billion won ($383 million) for Doosan Corp.’s liquor business, enabling it to produce wine and soju, a distilled traditional liquor. Lotte climbed 19,000 won, or 2.2 percent, to 875,000 won. Doosan (000150 KS), the operator of Burger King restaurants and Ralph Lauren stores in South Korea, decreased 100 won, or 0.1 percent, to 91,400 won.
PetroEnergy Resources Corp. (PERC PM): The fourth-largest Philippine oil explorer by assets said total production at its Etame oil venture in Gabon is expected to increase 25 percent to 25,000 barrels a day with the additional output of three oil fields. The stock rose 50 centavos, or 11 percent, to 5 pesos.
Silitech Technology Corp. (3311 TT): The Taiwanese company that makes mobile phone keyboards for Nokia Oyj said December sales fell 47 percent to NT$210.2 million. The stock was unchanged at NT$40.2.
Sinopec Yizheng Chemical Fibre Co. (1033 HK): The unit of Asia’s biggest oil refiner said it expects a “significant loss” for 2008 because of a decline in demand for polyester products due to reduced consumption. The stock rose 1 cent, or 1.1 percent, to 92 Hong Kong cents. The company’s shares traded in mainland China (600871 CH) added 0.08 yuan, or 2.2 percent, to 3.67.
Top Glove Corp. (TOPG MK): The world’s largest rubber-glove maker said fiscal first-quarter profit rose to 34.5 million ringgit ($9.8 million) from 29.8 million ringgit a year earlier. The stock gained 22 sen, or 5.8 percent, to 4.02 ringgit.
WCT Bhd. (WCT MK): The Malaysian engineering company said its worst-case direct loss from a racecourse contract in Dubai that was canceled is about 300 million ringgit. WCT fell 54 sen, or 30 percent, to 1.29 ringgit, before it suspended its shares from trading in the afternoon yesterday and disclose the impact of the terminated contract.
To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net
Posts
No comments:
Post a Comment