Bloomberg News

CapitaMalls Malaysia, Honda, Maruti, Ube: Asia Stocks Preview

October 13, 2011

(Adds items on Canon and Isuzu. Updates Lawson)

Oct. 14 (Bloomberg) -- The following companies may have unusual price changes in Asia trading tomorrow. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise.

Armstrong Industrial Corp. (ARMS SP): The supplier of parts used in the electronics and automotive industries said it shut two of its factories in Thailand that were affected by flooding. The financial impact of the disaster has not been assessed, it said. Armstrong was unchanged at 24 Singapore cents.

Canon Inc. (7751 JT): The world’s biggest camera maker is preparing to shift production of two plants in Ayutthaya, Thailand, after facilities were closed due to flooding, Richard Berger, a spokesman for the company, said. Canon may shift inkjet printer production to another plant in Thailand or one in Vietnam, he said. The stock rose 0.1 percent to 3,535 yen.

CapitaMalls Malaysia Trust (CMMT MK): The Malaysian retail property trust’s third-quarter distributable income climbed 41 percent from a year earlier to 29.7 million ringgit ($9.5 million), it said in a statement. CapitaMalls was unchanged at 1.28 ringgit.

Daphne International Holdings Ltd. (210 HK): The footwear retailer said third-quarter same-store sales rose 23 percent. The stock jumped 4.3 percent to HK$7.28.

Honda Motor Co. (7267 JT): Japan’s second largest carmaker by market value cut car output at its Malaysia plant following disruptions to parts supply from Thailand due to flooding there, the Edge reported online, citing Chief Executive Officer Yoichiro Ueno. The stock rose 0.3 percent to 2,302 yen.

Huaneng Power International Inc. (902 HK): The unit of China’s largest electricity producer said power generation for the nine months ended Sept. 30 rose 24 percent from a year earlier. The stock rose 2.5 percent to HK$3.25.

Iluka Resources Ltd. (ILU AU): The world’s biggest zircon producer was downgraded to “hold” from “buy” at E.L. & C. Baillieu Stockbroking Ltd., according to data compiled by Bloomberg. The stock jumped 9.6 percent to A$16.99 in Sydney after the company reported that third-quarter sales more than doubled.

Isuzu Motors Ltd. (7202 JT): The car maker’s operating profit for the three months through September probably rose 5 percent to 24 billion yen from a year earlier amid a faster- than-expected recovery from Japan’s March earthquake, the Nikkei newspaper reported, without citing anyone. The stock rose 2.9 percent to 322 yen.

Japan Retail Fund Investment Corp. (8953 JT): The company said its net income for the six months ended Aug. 31 was 5.5 billion yen ($71.5 million), 18 percent lower than the previous six months. The stock gained 1 percent to 127,400 yen.

Lawson Inc. (2651 JT): The convenience-store operator said net income for the six months ended Aug. 31 declined 27 percent from a year earlier to 8.96 billion yen. Sales rebounded after mid-June following a slump due to the March earthquake, the company said.

Separately, Lawson plans to open 10,000 China stores, expanding from a current level of a few hundred, the Wall Street Journal reported, citing company president Takeshi Niinami. The stock dropped 1.6 percent to 4,345 yen.

LG Electronics Inc. (066570 KS): The company’s Baa2 issuer and senior unsecured debt ratings outlook was revised to “negative” from “stable” by Moody’s Investors Service. LG’s competitive position in its handset business has weakened, Moody’s said in a statement. The world’s third-largest mobile- phone maker fell 0.7 percent to 73,000 won.

Longcheer Holdings Ltd. (LHL SP): The China-based mobile- phone designer said it agreed to sell its electronics manufacturing equipment to a unit of Harbin HEG Group Co. for 43.6 million yuan ($6.8 million). The stock climbed 12 percent to 8.5 Singapore cents.

Maruti Suzuki India Ltd. (MSIL IN): The maker of almost half the cars sold in India will suspend production at its plant in Gurgaon, near New Delhi, on Oct. 14 and 15 after a workers’ strike halted supply of parts, according to an e-mailed statement from the company today.

Maruti will not negotiate with employees striking at its Manesar plant until the factory is vacated, the statement said. Maruti’s shares dropped 2.5 percent to 1,058.25 rupees.

Macquarie Group Ltd. (MQG AU): Julius Baer Group Ltd., a Swiss private banking group, said it entered into a strategic partnership with Macquarie Group leading to joint investment banking projects in North and Southeast Asia. Macquarie’s shares advanced 0.1 percent to A$24.76 in Sydney.

Renown Inc. (3606 JT): The apparel maker reported a 2.8 billion net loss for the six-month period ended Aug. 31, a 61 percent reduction from a year earlier, citing a drop in consumer spending after the March earthquake. The stock was unchanged at 167 yen.

SpiceJet Ltd. (SJET IN): The discount carrier said it allotted 35.9 million shares at 36.48 rupees apiece to Chairman and controlling shareholder Kalanithi Maran. The stock climbed 2.4 percent to 21.05 rupees.

Sumitomo Mitsui Trust Holdings Inc. (8309 JT): The bank raised its net income forecast by 39 percent to 125 billion yen for the six months ended Sept. 30. The stock rose 3.1 percent to 263 yen.

Toyo Electric Manufacturing Corp. (6505 JT): The maker of electrical systems used in transport and industrial equipment reported a net loss of 225 million yen for the quarter ended Aug. 31, a 31 percent decline from a year earlier, citing Japanese efforts to cut back on power usage and a slowdown in overseas economies. The stock gained 0.8 percent to 390 yen.

Toyo Tanso Co. (5310 JT): The manufacturer of carbon and graphite products boosted its net income forecast for the six- month period ending November to 2.5 billion yen from 1.6 billion yen, citing a stronger yen and a global economic slowdown due to Europe’s debt crisis. The company reported its net income for the quarter ended Aug. 31 rose by 60 percent to 1.7 billion yen from a year earlier. The stock rose 4.1 percent to 3,305 yen.

Ube Industries Ltd. (4208 JT): The producer of chemical products said profit rose 53 percent in the six months ended September, citing improved sales of chemical products and resins and a smaller impact than expected from Japan’s March earthquake. Net income totaled 11.5 billion yen ($149 million), compared with a forecast of 7.5 billion yen, according to a preliminary earnings statement to the Tokyo Stock Exchange. The stock rose 1.2 percent to 258 yen.

--With assistance from Jonathan Burgos in Singapore, Kana Nishizawa in Hong Kong, Shani Raja in Sydney, Chan Tien Hin in Kuala Lumpur, Saeromi Shin in Seoul and Shikhar Balwani in Mumbai. Editors: Nick Gentle, Jason Clenfield.

To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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