Bloomberg News

Philippine Equity Movers: Alliance, Megaworld, SM Investments

April 17, 2012

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

The Philippine Stock Exchange Index (PCOMP) rose 0.8 percent to 5,157.28, a fourth day of gains and the highest close on record.

Megaworld Corp. (MEG) , a builder of residential and office towers, advanced 1 percent to 1.99 pesos, the highest since March 29. The builder said 2011 net income surged 60 percent from a year earlier to a record 8.03 billion pesos ($188 million). Alliance Global Group Inc. (AGI) , parent of Megaworld, rose 2.2 percent to 12.30 pesos, the sharpest gain since March 15.

SM Investments Corp. (SM PM), the holding company of Philippine billionaire Henry Sy, increased 1.5 percent to 670 pesos, the highest since April 2. The company said the Philippine Rating Services Corp. gave its proposed 10 billion- peso bond sale a PRS Aaa rating, the rating company’s highest grade.

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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