Bloomberg News

Philippine Stocks Movers: PAL Holdings, San Miguel, Trans-Asia

December 28, 2011

Dec. 28 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.

The Philippine Stock Exchange Index declined 0.6 percent to 4,336.63, the lowest level since Dec. 19. The measure is headed for a 3.2 percent gain this year.

PAL Holdings Inc. (PAL PM), owner of Philippine Airlines Inc., gained for a third day, adding 0.9 percent to 7.03 pesos, the highest close since Oct. 10. San Miguel Corp. (SMC PM) President Ramon Ang said the company is in talks for a possible investment in Philippine Airlines, the nation’s largest carrier. San Miguel gained 0.5 percent to 117.50 pesos

Trans-Asia Oil & Energy Development Corp. (TA PM) increased 1.8 percent to 1.12 pesos, the sharpest gain in a week. Trans- Asia and partner Ayala Corp. (AC PM) will start next year the construction of a 135-megawatt coal-fired power plant in Batangas, a province south of Manila, the Philippine Daily Inquirer reported, citing Trans-Asia President Francisco Viray. Viray couldn’t be reached at his office for comment.

--Editor: Matthew Oakley

To contact the reporter on this story: Ian 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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