Philippine Stock Exchange: Market News and Updates – November 24, 2014

HOUSE Reportedly in Talks with Walter Mart Group
According to a news report, 8990 Holdings, Inc. (PSE: HOUSE) is in talks with the Walter Mart Group for its intergrated condominium-malls. In a disclosure to the PSE on Friday, the company announced that although it has decided to partner with a mall operator for its developments, no final agreement has been made with any group yet. [Read more…]

Philippine Stock Exchange: Market News and Updates – November 18, 2014

MCP, PLC’s City of Dreams Manila to Open in December
City of Dreams Manila, the casino project of Melco Crown (Philippines) Resorts Corporation (PSE: MCP) and Premium Leisure Corporation (PSE: PLC), is set to have its soft opening in December, followed by a grand opening in 2015, said PLC Chairman Willy Ocier. MCP, in a disclosure to the PSE, however, said that there is nothing fixed or concrete to report. [Read more…]

Philippine Stock Exchange: Market News and Updates – November 17, 2014

SPH 9M14 Net Income Up 80%
Splash Corporation (PSE: SPH), as a result of an increase in operating profit by 72.6 percent and a decrease in operating expenses by 2.8 percent, boosted its net income to P40.9 million for the first three quarters of 2014, up 80 percent over the P22.7 million for the same period last year. Sales for the period amounted to P2.57 billion up by 2.8 percent over the P2.50 billion for the same period last year. The revenue growth came from the 37 percent growth in Foods mainly from its international operation and the 8.4 percent growth in the Personal Care segment. [Read more…]

Philippine Stock Exchange: Market News and Updates – November 14, 2014

GTCAP 9M14 Income Rises 37%
GT Capital Holdings, Inc. (PSE: GTCAP) yesterday disclosed that its January to September 2014 consolidated net income reached P6.3 billion from P7.7 billion in the same period last year. The company’s consolidated revenues for the first nine months of this year grew 37% to P104.9 billion from P76.8 billion in 2013. GT Capital’s revenue increase came mostly from higher vehicle sales of Toyota Motor Philippines Corporation, improved net fees of Global Business Power Corporation, and the continued robust real estate sales of Federal Land, Inc. [Read more…]

Philippine Stock Exchange: Market News and Updates – November 12, 2014

FOOD Fined by SEC
Alliance Select Foods International, Inc. (PSE: FOOD) was levied a fine of P100,000 by the Securities and Exchange Commission (SEC) for its alleged failure to respond to a letter from the SEC. The letter stemmed from a complaint by a stockholder who was barred from the entering the company’s Annual Stockholders’ Meeting. FOOD denied that it failed to respond to the SEC letter and is contesting the fine. [Read more…]

Philippine Stock Exchange: Market News and Updates – November 7, 2014

IFC Approves $30 Million Loan to RCB
The International Finance Corporation (IFC), a member of the World Bank Group, has approved a medium-term loan of up to $30 million (P126 million) to the Rizal Commercial Banking Corporation (PSE: RCB) to increase its financing of small and medium-size enterprises (SMEs) including women-led businesses, and spur job creation as well as help support Yolanda-affected SMEs.

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Philippine Stock Exchange: Market News and Updates – November 6, 2014

AUB 3Q14 Net Income Up 62%
Asia United Bank (AUB) and its subsidiaries breached the billion-peso mark, as the group posted a net income of P1.6 billion for the first nine months of the year. This was 62% higher than P986.6 million in 2013, aided by a 52% loan growth and a one-time extraordinary gain of over P300 million on the sale of foreclosed properties. [Read more…]

Philippine Stock Exchange: Market News and Updates – November 5, 2014

AP Unit Breaks Ground for Dam Improvement Project
Executives from the National Irrigation Administration (NIA), Aboitiz Power (PSE: AP) unit SN Aboitiz Power-Magat, Inc. (SNAP-Magat), and local government units of Ifugao and Isabela led the ground-breaking today for the improvement of the Maris Reservoir. Maris Optimization is a project of NIA with SNAP-Magat as its project partner. It aims to raise the Maris Reservoir by adding a set of stoplogs about three meters high. This would mean additional storage for water that can be delivered primarily for irrigation of farmlands and also for power generation, subject to irrigation diversion requirements. [Read more…]

Philippine Stock Exchange: Market News and Updates – November 3, 2014

CAL Gives More Details on Joint Venture
In a disclosure to the PSE, Calata Corporation (PSE: CAL) announced more details on its joint venture with Topigs Norsvin. CAL will acquire from Topigs Norsvin a nucleus unit with a 1100- head breeding herd composed of Great Grand Parent and Grand Parent breeding stock. Topigs Norsvin shall likewise supply genetic and scientific support, knowledge and technical expertise related to the breeding and production activities of the joint venture and will support the company with technical information necessary for marketing and distribution of the pigs in the Philippines. This transaction shall be implemented immediately. CAL will invest approximately P100 million for the joint venture and expects to earn P200 million annually. [Read more…]

Philippine Stock Exchange: Market News and Updates – October 31, 2014

PXP Looking into Liquified Natural Gas
Philex Petroleum Corporation (PSE: PXP) is looking at developing an indigenous natural gas field or investing in a liquefied natural gas power plant, its chairman Manuel V. Pangilinan said on Wednesday. A possible LNG investment is part of the company’s efforts to develop new energy sources, [Read more…]