Bloomberg News

Taiwan Cement, Tower Bersama, IBK: Asia Ex-Japan Equity Preview

June 22, 2011

June 23 (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.

Advanced Semiconductor Engineering Inc. (2311 TT): The company’s board approved plans to sell up to NT$8 billion ($277 million) of five-year secured corporate bonds, the Kaohsiung, Taiwan-based chip packaging and testing company said in an exchange statement. Advanced Semiconductor climbed 1.1 percent to NT$33.65.

Industrial Bank of Korea (024110 KS): South Korea’s finance ministry will seek again to sell a stake in the state-run bank, known as IBK, after September, MoneyToday reported, citing the ministry. IBK, South Korea’s largest lender to small- and mid- sized companies, plunged 10 percent to 18,500 won.

International Container Terminal Services Inc. (ICT PM): The Philippines’ biggest port operator said its offer to buy the rest of Portek International Ltd. (PORT SP) will run from June 22 until July 20. ICTSI, as the Philippine company is called, offered S$1.20 a share for Singapore-based Portek. ICTSI slipped 0.1 percent to 50.10 pesos. Portek was unchanged at S$1.21.

Kumho Industrial Co. (002990 KS): The South Korean builder is discussing with creditors whether to sell its express bus division to improve its financial structure, according to a regulatory filing from the company. Kumho jumped 15 percent to 9,000 won.

PT Tower Bersama Infrastructure (TBIG IJ): The Indonesian provider of infrastructure services to wireless carriers signed a conditional sale-and-purchase agreement to buy 100 percent of PT Mitrayasa Sarana Informasi, or Infratel, a Jakarta-based, privately owned telecommunications tower provider, Tower Bersama said in a e-mailed press release. Tower Bersama advanced 2.2 percent to 2,300 rupiah.

San Miguel Corp. (SMC PM): The Philippine government is “studying” its next move after the Supreme Court upheld an April decision that San Miguel Chairman Eduardo Cojuangco’s stake in the nation’s largest food and drinks-manufacturer was legally acquired, President Benigno Aquino’s spokesman Edwin Lacierda said. The stock gained 0.6 percent to 114.70 pesos.

Taiwan Cement Corp. (1101 TT): Taiwan’s largest cement maker plans to spend more than $3 billion over the next five years to expand in China, the Taipei-based United Evening News reported, citing Chairman Leslie Koo. Taiwan Cement was unchanged at NT$40.

United Malayan Land Bhd. (UML MK): The Malaysian property developer plans to roll out property projects with a gross development value of almost 1 billion ringgit ($330 million) this year, it said in a statement. The stock added 1.6 percent to 1.90 ringgit.

--With assistance from Ian C. Sayson in Manila and Chan Tien Hin in Kuala Lumpur. Editor: John McCluskey.

To contact the reporter on this story: Berni Moestafa in Jakarta at

To contact the editor responsible for this story: Darren Boey at

The Good Business Issue
blog comments powered by Disqus