GMA, International Container, Semirara: Philippine Stock Preview
The Philippine Stock Exchange Index (PCOMP) fell 1.3 percent to 4,967.39.
GMA Network Inc. (GMA7) (GMA7 PM): Philippine Long Distance Telephone Co. Chairman Manuel Pangilinan said he’s interested in the broadcasting company. “There are no discussions going on,” Pangilinan told reporters in Manila yesterday. GMA Network is “a fine company” that is profitable and has no debt, he said. The stock fell 4.3 percent to 9.47 pesos.
International Container Terminal Services Inc. (ICT) : A unit of the nation’s largest port operator plans to acquire 35 percent to 55 percent of Pakistan International Container Terminal Limited, the company known as ICTSI said in a statement yesterday. ICTSI plans to more than double capital spending this year to $550 million from $227.8 million in 2011, the company said. Net income in 2011 rose by a third to $130.5 million, it said. The stock fell 1.1 percent to 58.85 pesos.
Semirara Mining Corp. (SCC) : The coal and electricity producer’s net income rose to 6 billion pesos ($139 million) last year from 3.95 billion pesos in 2010, it said in a report to the stock exchange today. The stock declined 0.5 percent to 220 pesos.
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