Asustek, Changhuat, Filinvest: Asia Ex-Japan Equity Preview
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By Hanny Wan
Dec. 12 (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.
Asustek Computer Inc. (2357 TT): The supplier of the Eee PC low-cost laptop plans to spin off its Pegatron Technology Corp. unit, David Chang, chief financial officer of Taipei-based Asustek said at a press conference in Taipei Dec. 11. The stock added 1.3 percent to NT$64.40.
Changhuat Corp. (CCB MK): The Malaysian plastic products maker said it received a 170 million ringgit ($50 million) contract to provide a floating fuel storage facility for Nobel Clean Fuels Ltd. The facility will be at Port Tanjung Pelepas in the southern Johor state. Changhuat last traded at 1.48 ringgit on Dec. 10, up 5.7 percent.
Filinvest Land Inc. (FLI PM): The fourth-largest Philippine developer by market value said it plans to sell an additional 3 billion pesos ($65 million) of bonds in the first quarter to fund capital requirements. Manila-based Filinvest Land last month sold 5 billion pesos of bonds. The stock was unchanged at 90 centavos.
General Corp. (GCB MK): The Malaysian property group said its Low Keng Huat (Singapore) Ltd. unit agreed to form a joint venture to develop apartments, offices and a hotel in Front Beach, Vung Tau City, Vietnam. The joint venture’s investment capital is $48 million, the Malaysian company said in a statement. General Corp. gained 1 percent to 1.06 ringgit.
Ireka Corp. (IREKA MK): The Malaysian property group said it agreed to buy a parcel of land in Kuala Lumpur for 87.1 million ringgit. Ireka also agreed to form a joint venture with Aseana Properties Ltd. to develop a residential tower on the land which will generate a gross development value of 272 million ringgit, it said in a statement. Ireka rose 3.5 percent to 73.5 sen.
Ping An Insurance (Group) Co. (2318 HK): China’s second- biggest insurer said its life-insurance unit had 121.9 billion yuan ($17.9 billion) of premium income in the first 11 months of this year. The company didn’t give comparative figures. The stock dropped 0.6 percent to HK$69.95.
SIA Engineering Co. (SIE SP): The aircraft maintenance unit of Singapore Airlines Ltd. (SIA SP) said it will restore pay- cuts and discontinue a no-pay leave policy from Jan. 1. SIA Engineering was unchanged at S$3.15.
To contact the reporter on this story: Hanny Wan in Hong Kong at hwan3@bloomberg.net
Last Updated: December 11, 2009 15:17 EST
