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Philippine Stocks: Chemrez, IPVG, Metro Pacific, Robinsons Land

Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon close in Manila.

The Philippine Stock Exchange Index rose 0.4 percent to 4,269.19, the highest level since Nov. 8.

Chemrez Technologies Inc. (COAT) , a producer of biofuel, advanced 2.4 percent to 2.55 pesos, the highest close since Oct. 7. The company said first-quarter profit gained 28 percent.

IPVG Corp. (IP) , a provider of online games, climbed 1.5 percent to 1.32 pesos, the highest level since April 5. The company reported profit of 144.6 million pesos ($3.3 million) in 2010, compared with a loss of 244 million pesos a year earlier.

Metro Pacific Investments Corp. (MPI) , a unit of Hong Kong’s First Pacific Co., rallied 3.5 percent to 3.83 pesos, the highest close since Jan. 13. Manila North Tollways Corp., a venture of the company, signed a “notes facility” agreement that will raise 6.21 billion pesos to refinance debt and for general corporate purposes.

Robinsons Land Corp. (RLC) , the second-largest shopping mall developer, gained 1 percent to 13.54 pesos. The company completed a rights offer raising 13.6 billion pesos for expansion.

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

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net

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