MacroAsia Corp., SM, Trans-Asia Oil: Philippines 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 1.4 percent to 4,351.63.
MacroAsia Corp. (MAC) : The Philippine provider of in- flight catering services will get $4.77 million as shares in the cash dividend that its 49 percent owned venture Lufthansa Technik Philippines will pay, a stock exchange filing showed. The stock decreased 0.7 percent to 3 pesos.
SM Investments Corp. (SM) : The holding company of Philippine billionaire Henry Sy approved a $142.2 million investment in Atlas Consolidated Mining & Development (AT) Corp, a stock exchange filing showed. SM was unchanged at 534.50 pesos. Atlas climbed 2.7 percent to 21.25 pesos.
Trans-Asia Oil & Energy Development (TA) Corp: The Philippine oil explorer and energy company won approval from the Department of Energy to transfer an 8.18 percent stake in a project to NorAsian Energy Ltd., a stock exchange filing showed. NorAsia will assume Trans-Asia’s share in the project’s first and second second well, it said. The stock decreased 3.4 percent to 1.13 pesos.
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