Bloomberg News

Philippine Stock Movers: Aboitiz, DMCI, Holcim, Republic Cement

January 04, 2012

Jan. 4 (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 rose 1.5 percent to 4,487.77, the highest close since Aug. 4.

Cement manufacturers: Holcim Philippines Inc. (HLCM PM), the nation’s largest producer, increased 4 percent to 11 pesos, the highest close since Aug. 3. Republic Cement Corp. (RCM PM) rose 1.9 percent to 5.91 pesos, the highest close since Aug. 25.

The Philippine government pledged to speed up proposed infrastructure projects this year. It may offer eight to 16 of the so-called public-private partnership projects worth as much as 142 billion pesos ($3.2 billion) to investors this year, Cosette Canilao, executive director of the program, said in an interview in her Manila office yesterday.

Aboitiz Power Corp. (AP PM) increased 1.4 percent to 29.80 pesos, the sharpest gain since Dec. 13. The company signed a 20- year agreement to supply Melters Steel Corp. with 40 megawatts of power, Aboitiz Power said in an e-mailed statement.

DMCI Holdings Inc. (DMC PM), the nation’s largest builder, added 2 percent to 43.45 pesos, the highest close since Aug. 4. The company’s energy unit may bid to supply power in selected small grids, a stock exchange filing showed.

-- Editor: Chan Tien Hin

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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