Philippine Stock Exchange: Market News and Updates – January 23, 2015

JGS Conducts Overnight Share Sale
Shares of JG Summit Holdings, Inc. (PSE: JGS) were sold via an accelerated overnight equity placement at a price of P61.00 per share through a top-up placement of 145,650,000 common shares from a selling shareholder, raising a total of approximately P8.8 billion. The proceeds from the offering will be used for general corporate purposes. [Read more…]

Philippine Stock Exchange: Market News and Updates – January 19, 2015

MPI Toll Subsidiary Acquires 45% of Vietnamese Toll Road Operator
Metro Pacific Tollways Corporation (MPTC), a subsidiary of Metro Pacific Investments Corporation (PSE: MPI), acquired purchased a 45% interest in CII Bridges and Roads Investment Joint Stock Company (CII B&R) from Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII). The total consideration for the transaction was VND 1,954,975,280,900.

BSP Approves SECB Request to Sell Life Insurance
The Bangko Sentral ng Pilipinas has approved the request of Security Bank Corporation (PSE: SECB) to cross-sell FWD Life Insurance Corporation’s products. [Read more…]

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

Arbitration Tribunal Allows Global Gaming to Sell BLOOM Shares
The Arbitration Tribunal hearing the case between Bloomberry Resorts Corporation (PSE: BLOOM) and Global Gaming Philippines LLC (GGAM) revoked the Regional Trial Court’s injunction and attachment orders on GGAM’s shares in BLOOM, allowing GGAM to sell its 921.18 million shares. The tribunal, however, made no declaration as to the ownership of the said shares. [Read more…]

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

EDC’s Bacman Raises Capacity
Bac-Man Geothermal, Inc., a subsidiary of Energy Development Corporation (PSE: EDC), announced that Unit 2 of its Bacman Power Plants is now operating at 60 MW gross, an increase of 5 MW. The increased capacity is a result of the installation of the new Toshiba steam turbine rotor unit and diaphragms in September. [Read more…]

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

BHI Announces Talks with Two Foreign Prospects, Renewed Interest from ALI
In a disclosure to the PSE, Boulevard Holdings, Inc. (PSE: BHI) announced that is currently in talks with two foreign groups that are interested in the company’s Puerto Azul property. It also said that it has received another verbal offer from Ayala Land, Inc. (PSE: ALI) for the same property.

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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…]