GMA Network, Metro Pacific, San Miguel: Philippine Stock Preview

The following companies may have unusual price changes in Philippine (PASHR) trading. Stock symbols are in parentheses and share prices are as of yesterday’s close.

The Philippine Stock Exchange Index (PCOMP) rose 0.8 percent to 4,938.61.

GMA Network Inc. (GMA7) (GMA7 PM): Philippine Long Distance Telephone Co. Chairman Manuel Pangilinan said his group is “interested to take a look” at the broadcasting company. It isn’t in talks to acquire GMA, he said. The stock increased 0.8 percent to 9.68 pesos.

Metro Pacific Investments Corp. (MPI) : The company with investments in water, power and health care said profit rose 76 percent to 5.06 billion pesos last year. Consolidated revenue increased 19 percent to 22.07 billion pesos, the company said in a statement. It declared a dividend of 1.50 centavos a share. The stock gained 0.9 percent to 3.54 pesos.

San Miguel Corp. (SMC) : The company said it’s finalizing the acquisition of Exxon Mobil Corp.’s refining business in Malaysia through its Petron Corp. unit.

San Miguel is also in talks to sell its controlling stake in Bank of Commerce to Malaysia’s CIMB Group Holdings Bhd. (CIMB), it said in a disclosure to the stock exchange yesterday. The stock rose 1.8 percent to 115 pesos.

To contact the reporter on this story: Cecilia Yap in Manila at cyap19@bloomberg.net

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

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