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Manila Electric, RFM, San Miguel Corp: Philippine Stock Preview

Shares of the following companies may have unusual (PCOMP) moves in Philippine trading. (PASHR) 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 4,372.24. The gauge has risen 4 percent year to date.

Manila Electric Co. (MER) : The state-owned Power Sector Assets & Liabilities Management Corp. said in a Dec. 23 statement it will extend its supply contract with the nation’s largest power retailer for as long as a year. Manila Electric is also planning to put up 300 megawatts of hydroelectric power in Luzon, the Philippine Star said today, quoting Chief Operating Officer Oscar Reyes. The stock added 0.8 percent to 248 pesos.

RFM Corp. (RFM) : The Manila-based food manufacturer said earnings may drop by more than a quarter this year, BusinessWorld reported, citing Chief Operating Officer Felicisimo Nacino. The stock fell 2.5 percent to 1.18 pesos.

San Miguel Brewery (SMB) : The beer maker is seeking changes to the terms of bonds due in 2012, 2014 and 2019, an exchange filing showed. The stock was unchanged at 28.20 pesos.

San Miguel Corp. (SMC) : The biggest Philippine company by sales may still bid for two state-owned television networks, the Philippine Star reported today, citing San Miguel President Ramon Ang. The stock was unchanged at 117 pesos.

To contact the reporter on this story: Norman P. Aquino in Manila at naquino1@bloomberg.net

To contact the editors responsible for this story: Clarissa Batino at cbatino@bloomberg.net; Darren Boey at dboey@bloomberg.net

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