Aboitiz, Alliance, GT Capital, Roxas: Philippine Equity Preview
The Philippine Stock Exchange Index (PCOMP) rose 1.4 percent to 5,300.41.
Aboitiz Equity Ventures Inc. (AEV) : The company’s first- quarter net income rose 27 percent to 5.9 billion pesos ($139.5 million) bolstered by a one-off gain of 386 million pesos from a reevaluation of dollar-denominated loans, it said in a statement to the Philippine stock exchange. Aboitiz Equity advanced 3.5 percent to 53 pesos.
Alliance Global Group Inc. (AGI) : The company’s first- quarter reservation sales rose 52 percent from a year earlier to 16.4 billion pesos. Alliance Global is “confident” its four real-estate companies will post 55 billion pesos in reservation sales this year from 37 billion pesos in 2011, it said. The stock rose 3.1 percent to 13.40 pesos.
GT Capital Holdings Inc. (GTCAP) : The holding company of Philippine billionaire George Ty turned property unit Federal Land Inc. into its wholly-owned subsidiary after acquiring a further 20 percent stake in Federal for 2.7 billion pesos, the Philippine Star reported. GT Capital retreated 1.9 percent to 500.50 pesos.
Roxas Holdings Inc. (ROX) : The nation’s biggest producer of raw sugar obtained an 800 million pesos loan from BDO Unibank Inc. (BDO) for its subsidiaries, BusinessWorld reported, citing a company statement. Roxas was unchanged at 2.95 pesos when it last traded May 2.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
To contact the editor responsible for this story: Richard Frost at Rfrost4@bloomberg.net