Philippine Stock Exchange: Market News and Updates – October 1, 2014

Update on EDC’s Bacman Plants
In a disclosure to the PSE, Energy Development Corporation (PSE: EDC) gave an update on the status of its Bacman geothermal plants. Unit 1, it said, is running at its rated load of 55 MW. Unit 2, meanwhile, is running at its rated load of 55 MW following the installation of a new Toshiba steam turbine rotor unit and diaphragms and is scheduled to undergo a 30 day reliability run. Unit 3 has completed its 30 day reliability run. [Read more...]

Philippine Stock Exchange: Market News and Updates – September 29, 2014

CMT to Extend Tender Offer Period
In view of Presidential Proclamation No. 875 declaring 6 October 2014 a non-working holiday in observation of Eid al-Adha, the bidders of up to 10.18% of Southeast Asia Cement Holdings, Inc. (PSE: CMT) have extended the Tender Offer Period by one (1) day. The Tender Offer Period shall terminate on 10 October 2014 at 3:00 P.M. [Read more...]

Philippine Stock Exchange: Market News and Updates – September 22, 2014

VLL Sees Record Profit in 2014
Vista Land & Lifescapes, Inc. (PSE: VLL) is eyeing a record P5.67 billion net income in 2014, up 12% from last year’s P5.03 billion. The continued increase in demand for housing is seen as the catalyst for this increase. It also plans to increase its capital expenditures to levels that will “significantly be bigger than this year’s capex,” according to VLL investor relations officer Brian Edang. [Read more...]

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

MEG’s Suntrust to Develop Industrial Park in Cavite
Megaworld Corporation (PSE: MEG), through its wholly-owned subsidiary Suntrust Properties, Inc., is venturing into industrial park development that has its pioneering “LIVE-WORK-PLAY” lifestyle township concept. Sitting on a 200-hectare land in Tanza, Cavite, the Suntrust Ecotown will be MEG’s first mixed-use development with an industrial park in the country. It is also positioned to be the major hub for world class light to medium export-oriented industries, residential, commercial, and institutional establishments in the south. Suntrust is allocating P5-billion to develop the initial 200-hectare industrial park within 8 years. Its initial offering of 107 available industrial lots will cater to export-oriented industries such as electronics, home appliances, computer parts, car assemblies, fabric and textile goods, food products, pharmaceuticals, machinery, chemicals, and other industrial products. [Read more...]

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

SEC Approves GREEN’s Change in Par Value
Greenergy Holdings Incorporated (PSE: GREEN) announced yesterday that it received the approval of the Securities and Exchange Commission to change the par value of its common shares from P0.01 to P1. The change will be reflected on the PSE trading system as soon as GREEN complies with the necessary policies of the exchange. [Read more...]

Philippine Stock Exchange: Market News and Updates – September 16, 2014

VLL Declares Cash Dividend

Vista Land & Lifescapes, Inc. (PSE: VLL) declared a cash dividend amounting to P0.11858 per share, equivalent to approximately 20% of the company’s 2013 net income. The dividend has a record date of September 30, 2014 (ex-date: September 25) and a payment date of October 24, 2014.

BRN: No Agreement Yet On Monte Oro
In a disclosure to the PSE, A Brown Company, Inc. (PSE: BRN) announced that no definitive agreement has been entered into regarding the sale of its stake in Monte Oro Resources & Energy, Inc. to Apex Mining Co., Inc. (PSE: APX). [Read more...]

Philippine Stock Exchange: Market News and Updates – September 15, 2014

SPH to Increase Subscription in Subsidiary
In its meeting on September 12, the the Board of Directors of Splash Corporation (PSE: SPH) approved the increase in subscription and paid up capital in Splash Foods Corporation, a subsidiary, by 250 million shares at its par value of P1.00 per share or a total of P250 million for the food business’ working capital requirements. [Read more...]

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

SMC to Bid for United Biscuits
According to news reports, San Miguel Corporation (PSE: SMC) is planning to bid for British snack maker United Biscuits Luxco S. C. A., reportedly worth $3.22 billion. Private equity firms Blackstone Group and PAI Partners, owners of United Biscuits, are planning to divest of their ownership through an auction or intial public offering. Reached for comment, SMC President and COO Ramon S. Ang, confirmed that they are “evaluating a bid,” for the said company. [Read more...]