By Ian C. Sayson
Jan. 8 (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.
Taiwan financial stocks: The nation’s central bank said it cut its benchmark interest rate to 1.5 percent from 2 percent and that local banks have agreed to boost lending. Cathay Financial Holding Co. (2882 TT), the largest listed financial- services company, gained 10 cents, or 0.3 percent, to NT$37.9. Fubon Financial Holding Co. (2881 TT), the second-biggest listed financial-services company, fell 30 cents, or 1.3 percent, to NT$23.6.
Babcock & Brown Ltd. (BNB AU): The Australian asset manager whose stock tumbled 99 percent last year said impairment charges mean its liabilities substantially outweigh its assets. Babcock tumbled 6 cents, or 16 percent, to 32.5 cents.
Bina Puri Holdings Bhd. (BIN MK): The Malaysian builder said it won a 24.6 million ringgit ($7.02 million), seven-month contract to build a warehouse and office building in Thailand. The project will increase Bina’s order book to about 1.8 billion ringgit, it said. Bina dropped 3 sen, or 3.5 percent, to 82 sen.
Formosa Petrochemical Corp. (6505 TT): Taiwan’s only publicly traded oil refiner said its sales declined 61 percent to NT$30.82 billion in December from a year earlier. The stock gained 40 cents, or 0.6 percent, to NT$70.2.
Huaneng Power International Inc. (902 HK): The unit of China’s biggest power producer said its output increased 6.3 percent last year to 184.6 billion kilowatt-hours. The stock fell 33 cents, or 5.8 percent, to HK$5.37.
Hyundai Mobis Co. (012330 KS): South Korea’s biggest auto- parts maker said it scrapped a plan to merge with affiliate Hyundai Autonet Co. (042100 KS) because it would cost too much. Hyundai Mobis added 2,000 won, or 2.9 percent, to 70,000 won. Autonet increased 85 won, or 2.9 percent, to 3,045 won.
KLCC Property Holdings Bhd. (KLCC MK): Daewoo Engineering & Construction Co. (047040 KS), South Korea’s biggest builder, won a 665 million ringgit contract to build the main superstructure of a mixed development in Kuala Lumpur, said KLCC, the owner of the project. KLCC rose 2 sen, or 0.7 percent, to 2.90 ringgit. Daewoo gained 1,400 won, or 15 percent, to 11,000 won.
Noble Group Ltd. (NOBL SP): The Hong Kong-based commodity supplier said its shipping unit being sued in California after an oil spill is insured for such claims. The stock, which is traded in Singapore, gained 2 cents, or 1.7 percent, to S$1.20.
Philippine Long Distance Telephone Co. (TEL PM): The nation’s biggest company by market value said it agreed to buy 340 million pesos of debt owed by Philcom Corp. PLDT, as the company is called, also said it agreed to buy shares in its smaller rival for 75 million pesos, giving it room to expand its broadband network in the southern island of Mindanao. PLDT fell 30 pesos, or 1.4 percent, to 2,160 pesos.
Pilipino Telephone Corp. (PLTL PM): The nation’s third- biggest mobile phone company said it bought back 3 million shares at 7.10 pesos each, bringing its treasury stocks to 49.59 million.
San Miguel Corp. (SMC PM): The largest Philippine food and drinks company said it may borrow funds to complete the purchase of Sea Refinery Corp., which owns 50.1 percent stake in Petron Corp. San Miguel Class A shares, which only Filipinos can own, were unchanged at 41.50 pesos. Its Class B shares (SMCB PM), which have no ownership restrictions, added 1.50 pesos, or 3.5 percent, to 44 pesos. Petron (PCOR PM), the nation’s biggest oil refiner, fell 10 centavos, or 2 percent, to 4.85 pesos.
SK Telecom Co. (017670 KS): South Korea’s largest wireless carrier denied a Herald Business newspaper report that it is seeking to buy a stake in online game-portal operator, CJ Internet Corp. (037150 KS). SK Telecom fell 500 won, or 0.2 percent, to 204,500. CJ Internet, which also denied the report, increased 300 won, or 2.4 percent, to 12,700 won.
To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net
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