Bloomberg News

Philippine Equity Movers: Energy Development, Vista Land

March 04, 2012

Shares of the following companies had unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses, and prices are as of 9:59 a.m. in Manila.

The Philippine Stock Exchange Index (PCOMP) fell 0.2 percent to 5,008.95, retreating from a record high close.

Energy Development Corp. (EDC) dropped 3.2 percent to 5.22 pesos. The nation’s largest geothermal company said 2011 net income dropped 86 percent from a year earlier to 615 million pesos because of a write-off and forgone steam sales, according to a company statement.

Vista Land & Lifescapes Inc. (VLL) added 1 percent to 3.87 pesos, heading for the highest close since Feb. 22. The company is increasing its 2012 spending budget by as much as 45 percent amid optimism that demand for its main horizontal and high-rise residential segments will remain robust, BusinessMirror reported, citing Chief Financial Officer Ricardo Tan.

To contact the reporters on this story: Cecilia Yap in Manila at cyap19@bloomberg.net Saeromi Shin in Seoul at sshin15@bloomberg.net;

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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