Bloomberg News

Boulevard Drops to 2-Month Low as Venture With Resom Collapses

October 11, 2011

Oct. 12 (Bloomberg) -- Boulevard Holdings Inc., a Philippine real-estate developer, fell to a two-month low in Manila after the company said it failed to close talks with South Korea’s Resom Resorts to lease an existing golf course and spa hotel site south of Manila.

Boulevard slumped as much as 15 percent to 17 centavos and traded at 17.8 centavos at 9:53 a.m. local time, heading for the lowest close since Aug. 9. The benchmark Philippine Stock Exchange Index decreased 0.4 percent.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Matthew Oakley at moakley@bloomberg.net


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