BDO Unibank, Belle Corp., MUSX Corp.: 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 declined 1.1 percent to 4,171.54.

BDO Unibank Inc. (BDO PM): The largest Philippine bank by assets will spend 3 billion pesos ($69 million) to upgrade a mall, the Philippine Star reported, citing Chairwoman Teresita Sy-Coson. The project will include an office tower and will be completed in five years, the report said. The stock fell 0.6 percent to 56.75 pesos.

Belle Corp. (BEL) : The property and gaming company expects to raise between 4 billion pesos and 5 billion pesos from the sale of shares to existing shareholders, a stock exchange filing showed. Proceeds from the sale will help fund Belle’s casino project in Manila, it said. The stock dropped 4.1 percent to 4.86 pesos.

MUSX Corp. (MUSX) : The company’s board approved a plan to buy 51 percent of Total Waste Management Recovery System Inc., a stock exchange filing showed. The company also plans to lend up to 25 million pesos to Total Waste as additional working capital, it said. The stock sank 4 percent to 7.2 centavos.

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

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