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To: SliderOnTheBlack who wrote (40584)	3/22/1999 2:05:00 PM
From: Gerald F Bunch	Read Replies (2) \| Respond to of 95453

Slider You did mention FEN last week as a speculative play didn't you? biz.yahoo.com Regards GB

To: SliderOnTheBlack who wrote (40584)	3/22/1999 8:28:00 PM
From: BigBull	Respond to of 95453

Slider - This one's for you, bub! <vbg> A while back you called for a recovery in the Phillipines; well how's about these apples?! Good call, dude, good call. Energy News Mon, 22 Mar 1999, 8:18pm EST Philippine Stocks May Rise as Jan. Industrial Output Increases Manila, March 23 (Bloomberg) -- Philippine stocks may rise amid optimism that the economy is on the road to recovery after industrial production rose for the first time in four months. The value of production rose 6.6 percent in January compared with December, the biggest month-on-month increase since June, the National Statistics Office said. Production volume grew 6.5 percent, also the biggest monthly rise since June. Yesterday, the benchmark 30-company Philippine Stock Exchange composite index rose 12.03, or 0.6 percent, to 2018.49. The following is a list of companies whose shares may be active. The stock symbols are in parentheses after the company names. Prices are as of yesterday. La Tondena Distillers Inc. (LTDI PM ): The nation's largest liquor manufacturer said the investment arm of Bank of America and San Francisco-based Orchid Asia Holdings will buy 1 billion pesos of preferred shares it will issue to retire debts. The stock rose 50 centavos, or 1.6 percent, to 32.50 pesos. Manila Electric Co. (MER PM ): The government asked a court to reconsider a decision that cleared the country's largest power distributor of overcharging customers 11.3 billion pesos over four years. Solicitor General Ricardo Galvez asked the same court to review the decision, saying it may have erred in allowing Meralco to pass on its income tax to customers. Its Class A stock, reserved for Filipinos, rose 50 centavos, or 0.5 percent, to 97 pesos. The Class B stock, which anyone can own, rose 1 peso, or 0.8 percent, to 130, after falling 1.6 percent. Music Corp. (MUSX PM ): The computer chip designer swung to a loss of 18.9 million pesos ($488,000) in the fourth quarter of 1998 as production problems hurt sales of its new generation of semiconductors. The stock rose 4 centavos, or 2 percent, to 2.04 pesos. Petron Corp. (PCOR PM ): The nation's largest oil refiner may see its expenses rise as ministers from oil-producing countries may be near an agreement to cut output in an effort to boost prices. It imports more than 90 percent of its oil from the Middle East. Also, Petron said it is studying whether to reduce the size of a proposed power plant by two-thirds because of a growing surplus of electricity in the country. The stock was unchanged at 4.55 pesos. Philippine National Bank (PNB PM ): As part of its strategy to raise capital, the nation's third-largest bank reached an agreement to sell its wholly owned California-based unit, Century Bank, to First Bank, a bank based in the U.S. Midwest, the Philippine Daily Inquirer reported yesterday. PNB President Benjamin alma-Gil said First Bank is now conducting a due diligence study of Century Bank, which has an estimated net worth of $22 million and assets of $180 million. The stock rose 1.50 pesos, or 3.0 percent, to 51. SPI Technologies Inc. (SPI PM ): Analysts expect the company to beat its own 1998 profit estimate of 190 million pesos when SPI reports earnings next Monday. On Thursday, the data- processing company said it's planning a partnership with SAG AG of Germany, the world's largest maker of business computer software, to provide software to companies such as brewer San Miguel Corp. and oil refiner Petron Corp. The stock rose 5.25 pesos, or 23 percent, to 28 -- its highest since going public eight years ago. -------------------------------------------------------------------------------- © Copyright 1999, Bloomberg L.P. All Rights Reserved.