By Ian C. Sayson
March 5 (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.
Angang Steel Co. (000898 CH): Iron ore prices are likely to drop to 2007 levels this year, Chinese steelmaker Benxi Iron & Steel Group Chairman Yu Tianchen said. Angang, China’s second- largest steelmaker, rose 5.4 percent to 7.95 yuan.
Banco de Oro Unibank Inc. (BDO PM): The Philippines’ largest lender by assets, posted its first annual profit decline in eight years on losses tied to securities of bankrupt Lehman Brothers Holdings Inc. Profit was 2.2 billion pesos ($45 million), the banks said, without giving comparative figures. Profit in 2007 from 6.52 billion pesos. The stock fell 1.2 percent to 20.50 pesos.
Chung Hung Steel Corp. (2014 TT): The Taiwanese producer of hot-rolled and cold-rolled steel sheets and steel pipes said its sales in February fell 7.42 percent to NT$3.60 billion ($103 million) from a year earlier. The stock rose 1.9 percent to NT$10.65.
Datang International Power Generation Co. (991 HK): The unit of China’s second-biggest power company, will keep this year’s capital spending near 2008 levels, Chairman Zhai Ruoyu said. The stock gained 5.6 percent to HK$3.23.
Hutchison Telecommunications International Ltd. (2332 HK): The emerging-markets phone carrier controlled by billionaire Li Ka-shing said profit fell 97 percent to HK$1.88 billion ($242 million) in 2008 because a gain from an asset sale a year earlier wasn’t repeated. The stock rose 1 percent to HK$2.12.
Korea Gas Corp. (036460 KS): The world’s largest buyer of liquefied natural gas said it will pay a final dividend of 1,170 won on 2008 earnings. The total payout will be 85 billion won ($55 million), the company said today in a regulatory filing. The stock rose 5 percent to 38,850 won.
KT Corp. (030200 KS): South Korea’s largest phone and Internet company had its credit-rating outlook lowered to stable from positive by Moody’s Investors Service, which said the company’s earnings prospects are weakening while its debt burden is increasing. The stock rose 2.4 percent to 37,800 won.
Linc Energy Ltd. (LNC AU): The Australian producer of cleaner-burning fuels said in a filing to the stock exchange that it’s still in talks with prospective Chinese buyers for the sale of its Emerald coal tenements in Queensland. The company said it “remains positive” that sale will be completed in the “near term.” The stock decreased 12 percent to A$1.
Princeton Technology Corp. (6129 TT): The Taiwanese manufacturer of integrated circuits for multimedia audio and other electrical home appliances said its February sales contracted 57 percent to NT$82.22 million from a year earlier. The stock increased 6.7 percent to NT$2.87.
QL Resources Bhd. (QLG MK): The Malaysian producer of fishmeal and palm oil said it has no plans to carry out a rights offer. The company was responding to a Star newspaper report that cited QL as among companies with potential to sell stock to existing shareholders. QL was unchanged at 2.40 ringgit.
SM Investments Corp. (SM PM): The holding company of Henry Sy, the richest Philippine tycoon, said its profit rose 16 percent to a record 14 billion pesos last year as its shopping malls, grocers and department stores made up for lower earnings at its bank units. The stock rose 0.5 percent to 192 pesos.
To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net
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