SM Prime, Oriental, First Metro: 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) climbed 0.7 percent to 5,202.70. The market was closed yesterday for a public holiday.

SM Prime Holdings (SMPH) : Philippine’s largest shopping mall developer is in talks to add five properties in China, the BusinessMirror reported on its website, citing Chief Financial Officer Jeffrey Lim. Most of them will be located in Fujian province, the report said. SM Prime Holdings was unchanged at 16.70 pesos.

Oriental Peninsula Resources Group Inc. (ORE) : The nickel producer posted a net income of 467.4 million pesos ($11 million) last year compared with a loss of 6.62 million pesos in 2010, the Philippine Star reported on its website. Oriental climbed 0.3 percent to 7.95 pesos.

First Metro Investment Corp. (FMIC) : The unit of Metropolitan Bank & Trust Co. has set a profit growth target of as much as 20 percent this year, boosted by trading income, the Philippine Star reported, citing President Roberto Juanchito T. Dispo. First Metro, which underwrites debt and equity, fell 0.2 percent to 68 pesos.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

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

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