Belle, ICTSI, PNB, SM Prime, Vulcan: Philippine Equity Preview

Shares of the following companies may have unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.

The Philippine Stock Exchange Index (PCOMP) rose 0.1 percent to 5,163.09.

Belle Corp. (BEL PM): The company will open its casino and hotel complex in Manila in 2013, Vice Chairman Willy Ocier said yesterday. The company will build a high-end shopping mall within the complex, he said. The stock gained 0.4 percent to 5.06 pesos.

International Container Terminal Services Inc. (ICT) : The largest Philippine port operator will spend between $120 million and $150 million this year on capital expenditure and acquisitions, including a port in Pakistan, a stock-exchange filing showed. The shares rose 0.4 percent to 67.90 pesos.

Philippine National Bank (PNB) : The Presidential Commission on Good Government has asked the Securities & Exchange Commission and Bangko Sentral ng Pilipinas to stop the merger of Philippine National and Allied Banking Corp., according to an exchange filing. The stock decreased 1 percent to 73.95 pesos.

SM Prime Holdings Inc. (SMPH) : The nation’s biggest shopping mall operator will hold its annual stockholders’ meeting later today and may release first-quarter earnings. The stock rose 0.6 percent to 16.70 pesos.

Vulcan Industrial & Mining Corp. (VUL) : Modern Overseas Investment Ltd., a wholly-owned unit of China Trend, signed an agreement to buy 450 million pesos ($10.5 million) of shares in the company through a private placement, an exchange filing showed. Cerberus Corp. also signed an agreement to acquire 450 million shares of Vulcan, it said. The stock rose 2 percent to 1.02 pesos.

To contact the reporter on this story: Ian 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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