By Hanny Wan
March 14 (Bloomberg) -- The following companies may have unusual price changes in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Philippine banks: Bangko Sentral ng Pilipinas needs to consider easing monetary policy further to boost economic growth, including reducing reserve requirements and boosting lending to banks, Deputy Governor Diwa Guinigundo said. Banco de Oro Unibank Inc. (BDO PM) declined 1.2 percent to 20 pesos. Metropolitan Bank & Trust Co. (MBT PM) climbed 6 percent to 22.25 pesos.
Bank of the Philippine Islands (BPI PM): Remittances sent by overseas Filipinos through the bank rose more than 10 percent in the first two months of the year, President Aurelio Montinola said. BPI fell 1.6 percent to 31 pesos.
China Resources Enterprise Ltd. (291 HK): The company said it will pay 285 million yuan ($41.7 million) to buy a brewery in the nation’s eastern province of Shandong. China Resources, a government-controlled retailer and brewer, climbed 1.4 percent to HK$11.50.
Chemical Company of Malaysia Bhd. (CCM MK): The Malaysian chemicals producer has targeted a pretax profit of 120 million ringgit for 2009, saying it will be an “extremely difficult” year given the slowing economy. The company expects sales of 1.82 billion ringgit. The targets are part of the company’s key performance indicators set for 2009, it said in a statement. The stock was unchanged at 2.04 ringgit on March 12.
Filinvest Development Corp. (FDC PM): The company’s East West Banking Corp. unit paid $45 million on March 12 for Philam Savings Bank and two other assets auctioned by American International Group Inc. Filinvest Development was unchanged at 94 pesos.
Philippine Long Distance Telephone Co. (TEL PM): The carrier’s Pilipino Telephone Corp. (PLTL PM) unit agreed to buy 20 percent of Manila Electric Co. from First Philippine Holdings Corp. for 20.1 billion pesos. PLDT fell 2.5 percent to 2,145 pesos. Pilipino Telephone climbed 8.8 percent to 7.40 pesos. First Philippine was unchanged at 25.50 pesos.
UMW Holdings Bhd. (UMWH MK): The auto assembler asked the Securities Commission for an extension of six months to Sept. 30 to complete a reorganization and listing of its oil and gas unit. UMW said in a statement it needs more time because of the “prevailing” market conditions. UMW was unchanged at 5.25 ringgit.
To contact the reporter on this story: Hanny Wan in Hong Kong at hwan3@bloomberg.net
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