Filinvest, PAL Holdings, Trans-Asia: Philippine Stocks Preview

Shares of the following companies may have unusual moves in Philippine trading. Stock symbols are in parentheses, and prices are as of the previous close, unless stated otherwise.

The Philippine Stock Exchange Index rose less than 0.1 percent to 3,855.52.

Filinvest Development Corp. (FDC) : EastWest Bank, a unit of Filinvest, posted net income of 1.81 billion peso ($42 million) in 2010, almost three times the 621.7 million peso profit booked in 2009, a stock exchange filing showed. The stock decreased 3 percent to 4.15 pesos.

PAL Holdings Inc. (PAL) : Philippine Airlines Inc., the nation’s largest carrier and unit of PAL, said a flight from Manila was held at a remote parking bay upon arrival at the San Francisco International Airport on March 22 due to a phoned-in bomb threat. The aircraft was cleared for departure after a “rigid security check,” it said. The stock fell 3.9 percent to 4.71 pesos.

Trans-Asia Oil & Energy Development (TA) Corp: The Philippine oil explorer and energy company signed a three-year contract to buy electricity from Sem-Calaca Power Corp., a stock exchange filing showed. The stock gained 0.8 percent to 1.28 pesos.

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.