China Yurun, Danamon, Poh Kong: Asia Ex-Japan Equity Preview

By Berni Moestafa

March 24 (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 semi-conductor companies: South Korea plans to push domestic semiconductor-equipment makers to consolidate and will offer financial aid to reorganize the industry, Edaily reported, citing government officials it didn’t name. Hynix Semiconductor Inc. (000660 KS), the world’s second-largest computer-memory maker, rose 7.5 percent to 10,300 won. Jusung Engineering Co. (036930 KS), a semiconductor-equipment maker, gained 5.4 percent to 9,930 won.

Alliance Global Group Inc. (AGI PM): The Philippine property, restaurant and liquor company bought back 700,000 shares at 1.34 pesos each, bringing its total treasury shares to 519.2 million. Alliance added 4.7 percent to 1.34 pesos.

China Yurun Food Group Ltd. (1068 HK): The country’s biggest hog processor said full-year profit rose 32 percent to HK$1.14 billion ($147 million) in 2008, from HK$859 million a year earlier. The stock climbed 0.6 percent to HK$10.66.

EEI Corp. (EEI PM): The Manila-based construction company said its Al Rushaid Construction Co. venture won a $192 million contract to build a facility for Saudi Polymers Co. It also said profit rose to 506 million pesos last year and maintained its dividend. EEI jumped 28.1 percent to 1.14 pesos.

IOI Corp. (IOI MK): Malaysia’s second-largest palm-oil producer spent 2.27 million ringgit ($620,000) buying back its shares, a stock exchange filing showed. The company bought 600,000 shares at 3.78 ringgit each, according to the filing. IOI advanced 4.8 percent to 3.90 ringgit.

Petrovietnam Insurance Joint-Stock Co. (PVI VN): The fifth- biggest company in the Hanoi Securities Trading Center expects pretax profit to rise 27 percent this year, according to Chief Executive Officer Bui Van Thuan. Pretax profit is targeted to climb to 218 billion dong ($12.5 million), Thuan said. Petrovietnam dropped 4 percent to 24,000 dong.

Philippine Long Distance Telephone Co. (TEL PM): The nation’s most valuable company bought back 523,226 shares at 2,020 pesos each, bringing total treasury shares to 2.66 million. PLDT rose 2.5 percent to 2,015 pesos.

Poh Kong Holdings Bhd. (PKH MK): The Malaysian jewelry maker said it scrapped a plan to sell as much as 10 percent in new stock to investors in a private placement because of the weak stock market. Poh Kong was unchanged at 36 sen.

PT Bank Danamon Indonesia (BDMN IJ): The company backed by Temasek Holdings Pte and Deutsche Bank AG said shareholders approved its proposal to sell 4 trillion rupiah ($345 million) of new shares in a rights offer to raise capital. Proceeds from the sale will be used to expand lending, Danamon President Director Sebastian Paredes said. Danamon jumped 11 percent to 2,925 rupiah.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net