By Berni Moestafa - Sep 9, 2011 10:09 AM GMT+0800 Tweet More
Business Exchange Buzz up! Digg Print Email 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.
Acer Inc. (2353) (2353 TT): The world’s fourth-largest computer maker booked a gain of about NT$276 million ($9.5 million) from selling 12.1 million shares in E-Life Mall Corp. for NT$611 million from Sept. 9, 2010, to Sept. 8, 2011, Acer said in a statement to the Taiwan stock exchange. The stock advanced 7 percent to NT$35.25.
DiGi.Com Bhd. (DIGI) : Malaysia’s third-largest mobile phone operator plans to return cash to shareholders after receiving a 509 million-ringgit ($170 million) payment from a unit. The company also said investors will receive 10 shares for each one they currently own in a proposed split to make the stock more affordable and boost liquidity, according to stock- exchange filings. The stock was suspended on Sept. 8. It last traded at 31.12 ringgit.
Keppel Land Ltd. (KPLD) : The Singapore real-estate unit of the world’s biggest rig maker Keppel Corp. said its real- estate fund management arm closed the Alpha Asia Macro Trends Fund II after getting commitments for more than $460 million by the end of June from eight institutional investors. Keppel Land gained 2 percent to S$3.03.
Metropolitan Bank & Trust (MBT) Co: The second-largest Philippine bank by assets was raised to “buy” from “hold” with a 12-month share price estimate at 85.25 pesos by Katherine Tan, an analyst at ATR KimEng Securities Inc. The stock increased 0.7 percent to 71 pesos.
Posco (005490 KS): The world’s second-biggest stainless- steel maker may build a steel pipe plant and will seek to invest in iron ore or coal mines in Colombia, the Korea Economic Daily reported, citing industry officials that it didn’t identify. The South Korean steelmaker plans to increase its stake in the Namisa iron-ore mine in Brazil, the Korean-language newspaper said. Posco (005490) advanced 2.8 percent to 429,500 won.
PT Trada Maritime (TRAM IJ): The Indonesian provider of marine services to the petroleum industry signed a memorandum of understanding to acquire convertible bonds issued by PT Awesome Coal that will allow it to own a coal mine with reserves of 61 million tons in East Kalimantan province, Trada Maritime said in an e-mailed statement. The stock jumped 24 percent to 870 rupiah.
San Miguel Corp. (SMC) : The largest Philippine food and drinks company will stay as a listed company and “contemplates” listing all its operating subsidiaries, President Ramon Ang said. Ang issued the statement following a comment that if he has his “way,” San Miguel will buy back its shares and become privately held because disclosure requirements hamper acquisition plans. The stock gained 1 percent to 122 pesos.