Bloomberg News

Formosa Plastics, Geely, Sanyang: Asia Ex-Japan Equity Preview

June 20, 2011

June 21 (Bloomberg) -- The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses and share prices are from the previous close, unless noted otherwise.

Berjaya Sports Toto Bhd. (BST MK): The Malaysian lottery operator’s net income in the fourth quarter ended April 30 rose 29 percent from a year earlier to 104.2 million ringgit, bolstered by higher sales and lower prize payouts, according to a company statement. The stock dropped 0.2 percent to 4.52 ringgit.

Formosa Plastics Corp. (1301 TT): Taiwan’s biggest diversified industrial company said its board approved plans to sell as much as NT$10 billion of bonds to help repay debt and improve its financial structure. Formosa declined 2.3 percent to NT$106.

Geely Holding Group (175 HK): The unit of the Chinese automaker that owns Volvo Cars will sell 1 billion yuan of seven-year bonds on June 21, according to a statement on the Chinese bond clearing house website. Geely gained 3.6 percent to HK$2.86.

Sanyang Industrial Co. (2206 TT): Sanyang, which makes motorcycles and cars in Taiwan, borrowed NT$4.5 billion ($155 million) in a two-part loan, according to data compiled by Bloomberg. Both facilities, of NT$3.5 billion and NT$1 billion respectively, mature in June 2015 and proceeds will be used for working capital and to refinance debt, the data show. Sanyang dropped 1.2 percent to NT$16.60.

--With assistance from Tien Hin Chan in Kuala Lumpur. Editor: John McCluskey.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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