Ayala Land, Filinvest Land, Phinma: Philippine Stocks Preview
Shares of the following companies may have unusual moves in Philippine trading. Stock symbols are in parentheses, and prices are as of the previous close, unless stated otherwise.
The Philippine Stock Exchange Index rose 0.4 percent to 4,269.19.
Ayala Corp. (AC) : The owner of the largest Philippine developer and its biggest bank by market value said this year’s capital spending will increase 21 percent to 79 billion pesos ($1.82 billion), repeating an earlier announcement on March 11. The spending plan includes investments in power and infrastructure projects, according to yesterday’s filing. The stock increased 0.3 percent to 393.40 pesos.
Ayala Land Inc. (ALI) : The largest Philippine developer said profit may reach 10 billion pesos by 2014, a stock exchange filing showed. The stock fell 0.1 percent to 16.96 pesos.
Filinvest Development Corp. (FDC) : The company is interested to bid for state-owned power assets that the government will auction, a stock exchange filing showed. The stock climbed 1.6 percent to 5.08 pesos.
Filinvest Land Inc. (FLI) : The Philippine builder plans to increase its leasable assets by adding 100,000 square meters of office and shopping mall space, a stock exchange filing showed. The stock gained 1.6 percent to 1.28 pesos.
Phinma Corp. (PHN) : The company’s property venture will spend 4.5 billion pesos to develop three residential projects, a stock exchange filing showed. The property venture plans to list its shares on the exchange in the next 12-to-24 months, it said. The stock sank 4.6 percent to 11.70 pesos.
To contact the reporter on this story: Ian C. Sayson in Manila at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org