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Philippine Stocks: Ayala Land, Cebu Air, JG Summit, PhilWeb

Jan. 10 (Bloomberg) -- The following companies may have unusual price changes in Philippine trading. Stock symbols are in parentheses and share prices are as of the most recent trading day.

The Philippine Stock Exchange Index decreased 0.4 percent to 4,202.52 at the 12 p.m. close in Manila.

Ayala Land Inc. (ALI PM): Aberdeen Asset Managers Ltd. and Aberdeen Asset Management Asia Ltd. acquired a combined net 109.68 million shares in the Philippines’ largest builder, boosting their holdings to 28.45 percent, stock exchange filings showed. The stock advanced 1.3 percent to 16.04 pesos.

Cebu Air Inc. (CEB PM): The largest budget carrier’s owner JG Summit Holdings Inc. (JGS PM) bought 150,000 shares in the airline in the open market, a stock exchange filing showed. Cebu Air declined 0.7 percent to 104.90 pesos. JG Summit sank 2.3 percent to 19.24 pesos.

PhilWeb Corp. (WEB PM): The Manila-based provider of online-gaming and sports-betting services said net income last year rose to 708 million pesos compared with 551 million pesos in 2009.

Separately, shareholders approved a plan to sell up to 5 billion pesos worth of primary shares to fund international expansion and possible acquisition, Chairman Roberto Ongpin said at the shareholders meeting Jan. 7. The company is in talks with two overseas gaming companies for possible investment, he said at the meeting. The stock gained 1 percent to 16.64 pesos.

To contact the reporter on this story: Ian C. 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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