Bloomberg News

Beijing Yanjing, Keppel, LG Chem, Softbank: Asia Stock Preview

October 20, 2011

Oct. 20 (Bloomberg) -- The following companies may have unusual price changes in Asian 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.

Beijing Yanjing Brewery Co. (000729 CH): The company’s net income for the three months ended Sept. 30 rose 10 percent to 345.1 million yuan, according to a statement from the company to the Shenzhen Stock Exchange. Nine-month profit was 784.2 million yuan, the statement said. The stock fell 2.2 percent to 15.40 yuan.

British American Tobacco (Malaysia) Bhd. (ROTH MK): The nation’s biggest cigarette maker, said third-quarter net income rose 3.3 percent from a year earlier to 176.3 million ringgit ($56 million), it said in a statement. The shares were unchanged at 43.60 ringgit.

Cairn India Ltd. (CAIR IN): The energy explorer being acquired by Vedanta Resources Plc posted a worse-than-expected drop in second-quarter profit after accounting for royalty payments for the first time. Net income, including that of units, fell 52 percent to 7.63 billion rupees ($154 million), or 4 rupees a share, in the three months ended Sept. 30, the explorer said in a statement today. The median estimate of 23 analysts surveyed by Bloomberg was a profit of 8.5 billion rupees. The shares lost 2.1 percent to 293.55 rupees.

Enplas Corp. (6961 JT): The maker of engineering plastic products said its net loss was 250 million yen ($3.3 million) for the six months through September, compared with a forecast loss of 450 million yen, according to a preliminary earnings statement to the Tokyo Stock Exchange. The company cited a strong yen for the result, and said it had yet to factor the affect of flooding of Thailand. The stock fell 1 percent to 1,437 yen.

Kawasaki Heavy Industries Ltd. (7012 JT): The maker of transport equipment and industrial heavy machinery said its net income totaled 17.8 billion yen for the six months ended in September, beating its forecast of 12 billion, according to a preliminary earnings statement. Rising profits in factories- and environment-related businesses offset an appreciating yen, the company said. The stock fell 2.4 percent to 200 yen.

Keppel Corp. (KEP SP): The world’s biggest builder of oil rigs said third-quarter net income climbed 33 percent from a year earlier to S$406.1 million ($320 million). That exceeded the average estimate of S$357.3 million by three analysts compiled by Bloomberg. The stock lost 0.8 percent to S$8.78.

Korea Gas Corp. (036460 KS): The company discovered natural gas at a test well off the coast of Mozambique, the Ministry of Knowledge Economy said in an e-mailed statement. The world’s biggest buyer of liquefied natural gas rose 1.1 percent to 35,700 won.

LG Chem Ltd. (051910 KS): South Korea’s biggest chemicals maker said third-quarter profit dropped 15 percent, missing analyst estimates, on weak demand for petrochemical products and materials used to make notebooks and mobile phones. The shares slipped 7.6 percent to 314,500 won.

LG Display Co. (034220 KS): The world’s second-largest maker of liquid-crystal displays reported a record third-quarter loss that was worse than analysts’ estimates after panel prices dropped and the won weakened. The shares fell 0.2 percent to 22,500 won.

NHN Corp. (035420 KS): The owner of South Korea’s largest Internet search engine will invest 150 billion won ($131 million) to set up an Internet data center in the nation, according to a regulatory filing. The shares fell 6.9 percent to 237,500 won.

Nissei Corp. (6271 JT): The maker of transmission gears and precision equipment said net income rose to 535 million yen from a forecast of 530 million yen for the six months ended Sept. 30. The March earthquake had a smaller effect than expected on profit, the company said in a preliminary earnings statement. The stock slid 2.4 percent to 665 yen.

OM Metals Infraprojects Ltd. (OMM IN): The Indian company intends to submit a bid for acquisition of a company in the engineering construction space, according to an exchange filing which did not provide further details. Shares slid 0.7 percent to 33.35 rupees.

Piramal Healthcare Ltd. (PIHC IN): The Indian company posted second-quarter group profit of 524.3 million rupees. That compares with a profit of 125.4 billion rupees in the same period last year, which the company then said included a one- time gain of 162.2 billion rupees from sale of its businesses. Shares fell 1.1 percent to 356.9 rupees.

PanaHome Corp. (1924 JT): The home builder said net income beat its forecast by 36.4 percent, surging to 3 billion yen for the six months through September. The company partly attributed the results to demand for temporary housing after the March earthquake, according to a preliminary earnings statement to the Tokyo Stock Exchange. The stock fell 1.3 percent to 546 yen.

S-Oil Corp. (010950 KS): South Korea’s third-biggest oil refiner completed the expansion of its paraxylene plant. The company spent 1.3 trillion won on building a second complex to increase paraxylene and benzene output at its Onsan refinery in Ulsan, according to a statement. The shares sank 9.1 percent to 100,500 won.

San Miguel Corp. (SMC PM): The largest Philippine food and drinks company agreed to buy 37.7 percent of Eastern Telecommunications Philippines Inc. for 1.51 billion pesos ($35 million) from ISM Communications Corp. (ISM PM), stock exchange filings showed. San Miguel declined 0.4 percent to 110.60 pesos. ISM dropped 1.5 percent to 3.39 pesos.

Shiseido Co. (4911 JT): The maker of cosmetic and toiletry products said net income was 9 billion yen for the six months through September, exceeded its forecast by 29 percent. The company will book some of its sales management costs in the second half of the fiscal year, according to a preliminary earnings statement to the Tokyo Stock Exchange. The stock dropped 0.3 percent to 1,481 yen.

Softbank Corp. (9984 JT): The cellular carrier and BhartiEnterprises Pvt. formed a mobile Internet venture in India. They will hold equal stakes in the venture, which will invest in social media, gaming and e-commerce, according to a statement on Softbank’s website. The stock rose 0.6 percent to 2,387 yen.

Shanghai Kehua Bio-Engineering Co. (002022 CH): The company’s net income rose 0.7 percent to 79.2 million yuan in the third quarter, according to a statement to the Shenzhen Stock Exchange. The stock dropped 2.1 percent to 11.12 yuan.

--With assistance from Ian Sayson in Manila, Jonathan Burgos in Singapore, Chan Tien Hin in Kuala Lumpur, Saeromi Shin in Seoul and Irene Shen in Shanghai. Editor: Ravil Shirodkar

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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