By Berni Moestafa
Jan. 22 (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.
Indonesian palm oil producers: The Indonesian government may waive value-added tax on sales of vegetable-derived fuels to help demand for palm oil, said Bayu Krisnamurthi, a deputy for Coordinating Minister for Economic Affairs Sri Mulyani Indrawati.
PT Astra Agro Lestari (AALI IJ), the nation’s largest publicly listed plantation company, rose 50 rupiah, or 0.4 percent, to 11,300. PT Bakrie Sumatera Plantations (UNSP IJ), the No. 3, lost 10 rupiah, or 3.9 percent, to 245.
Philippine mining stocks: The country may miss its $1 billion investment goal for mining this year by 20 percent, after falling 24 percent below its $850 million target in 2009, Mines and Geosciences Bureau Director Horacio Ramos said.
Atlas Consolidated Mining & Development Corp. (AT PM), the second-largest metals producer by value, fell 15 centavos, or 4.7 percent, to 3.05 pesos. Apex Mining Corp. Class B shares (APXB PM), equity without ownership restrictions in the local unit of Crew Gold Corp., fell 16 centavos, or 8.6 percent, to 1.70 pesos.
BHP Billiton Ltd. (BHP AU): The world’s largest mining company said it may take $1.7 billion in one-time charges after closing a nickel min in Australia and slashing 6,000 jobs. Separately, BHP suspended sales of cobalt through its “cobalt open sales system” Web site. The Melbourne-based company, in a notice on the site, said it would now “direct market” all its cobalt products. BHP slid 29 cents, or 1 percent, to A$28.66.
Cnooc Ltd. (883 HK): The company’s parent, China National Offshore Oil Corp., said profit rose by “a big margin” last year as sales jumped 22 percent to 198.3 billion yuan ($29 billion). Cnooc, China’s biggest offshore oil producer, declined 17 cents, or 2.6 percent, to HK$6.43.
Daewoo Shipbuilding & Marine Engineering Co. (042660 KS): The company’s 6.3 trillion won ($4.6 billion) sale to Hanwha Group was scrapped by Korea Development Bank, a person familiar with the transaction said. Executives at Korea Development, owner of the biggest stake in Daewoo, discussed the cancellation and will announce it to reporters today, said the person, who didn’t want to be identified. Daewoo Shipbuilding retreated 150 won, or 0.7 percent, to 20,250.
Hyundai Motor Co. (005380 KS): South Korea’s largest automaker and affiliate Kia Motors Corp. (000270 KS) may have their debt ratings cut by Moody’s Investors Service, which placed on review the two car makers’ Baa3 ratings, the lowest investment grade. Hyundai gained 550 won, or 1.3 percent, to 43,500. Kia rose 170 won, or 2.4 percent, to 7,200.
Iluka Resources Ltd. (ILU AU): The world’s biggest zircon producer will close two mines in Western Australia because they don’t make enough profit. The Waroona and Wagerup mines will be closed ahead of schedule in line with “Iluka’s focus on generating acceptable returns from its operations,” the company said. Iluka slipped 15 cents, or 3.3 percent, to A$4.45.
International Container Terminal Services Inc. (ICT PM): The largest Philippine port operator said it won tax breaks from the Board of Investments for its container terminal in the southern island of Mindanao. ICTSI, as the stock is called, fell 50 centavos, or 3.6 percent, to 13.25 pesos.
Keppel Land Ltd. (KPLD SP): The developer controlled by the world’s largest oil-rig builder said fourth-quarter profit dropped 88 percent to S$68.5 million ($46 million) as home sales slowed in Singapore and overseas markets. Singapore-based Keppel fell 1 cent, or 0.7 percent, to S$1.50.
SK Energy Co. (096770 KS): South Korea’s largest oil refiner said it will participate in developing an oil field in Kazakhstan. The refiner together with other South Korean companies, including LG International Corp. (001120 KS) and Hyundai Hysco (010520 KS), will own 27 percent of the venture, SK said. SK Energy fell 1,500 won, or 2.1 percent, to 71,100. LG gained 900 won, or 5.3 percent, to 18,000. Hysco dropped 340 won, or 5.1 percent, to 6,320.
Tenaga Nasional Bhd. (TNB MK): The Malaysian state-owned power utility and Sarawak Energy Bhd. (SRWE MK) won government approval to take over the operation of the Bakun hydroelectric dam project through a leasing agreement. The two companies will take over the operation from Sarawak Hidro Sdn. and also develop the power transmission system from Sarawak state to Peninsular Malaysia, Tenaga said in a statement. Tenaga rose 5 sen, or 0.8 percent, to 6 ringgit.
To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net
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