Rumors and News of the Philippine Stock Market

PSE New Trading Hours

2011-12-20T14:12:00.000+08:00

The Philippine Stock Exchange (PSE) will implement its new trading hours on January 2, 2012.

Pre-Open	9:00 AM
Market Open	9:30 AM
Market Recess	12:00 PM
Market Resumes	1:30 PM
Pre-Close	3:17 PM	(Auction)
Trading-At-Last	3:20 PM	(Run-Off)
Market Close	3:30 PM

Razon acquires listed shell company

2011-11-24T15:27:00.000+08:00

Source: Manila Bulletin

By JAMES A. LOYOLA

November 23, 2011, 11:04pm

MANILA, Philippines — Business tycoon Enrique K. Razon Jr. has acquired 75 percent of listed shell company Active Alliance Inc. from five sharesholders including Wespac Holdings Inc. for P200 million.
In a disclosure to the Philippine Stock Exchange, AAI said the acquisition of 60 million AAI shares was made by Razon’s Prime Metroline Transit Corporation. The sale is still subject to the completion of due diligence and compliance with the mandatory tender offer.
Razon has been reported to be scouting for a vehicle for the backdoor listing of his Bloomsbury Investments which is developing a $1 billion integrated casino resort complex at the Pagcor Entertainment City.
Prior to the announcement, AAI had voluntarily asked the PSE to suspend the trading of its shares from November 22 to November 28 as it was making an announcement.
The price of AAI shares have surged on rumors of the Razon acquisition from P4.91 in November 8 to P76 last November 20 after hitting its 50 percent price ceiling almost daily.
Bloomsbury has tapped the services of Las Vegas, Nevada-based Global Gaming Asset Management (GGAM) LLC for the hotel and gaming operations of its proposed integrated casino resort complex.

Ongpin firm sells Eastern Telecom stake to San Miguel | ABS-CBN News

2011-10-21T16:19:00.000+08:00

MANILA, Philippines - Former trade minister Roberto Ongpin's ISM Communications Corp. said on Thursday it will sell its 37.7% stake in Eastern Telecommunications Philippines Inc. (ETPI) to San Miguel Corp., which Ongpin partly controls through Top Frontier Holdings.| ABS-CBN News

Betting on Harmonics

2011-09-21T14:40:00.000+08:00

Source: http://genkumag.wordpress.com

BoH-API: Abra Mining and Industrial Corporation

We are initiating coverage on Abra Mining and Industrial Corp. (PSE: AR). We rate AR as a SPECULATIVE BUY with a price target of 2 centavos/share given the following:

We believe OYM will push through with the JV with AR in developing the Capcapo property.
Fair value at 2.34 centavos per share was made with reasonable assumptions.
Technical target of 1.5 to 2.5 centavos per share.
The recent allocation of P100 million from the authorized capital of AR for stock option plan and other incentives to deserving employees, officers and directors implies insider buying which is typical as corporate turning points.
As of the September 19, 2011 price of 0.54 centavos/share, upside to 2 centavos/share is 270%.
We think the near term catalyst will be a sudden surge in volume.

View Full Report: Betting on Harmonics

BOULEVARD HOLDINGS, INC. Joint Venture with JP Guilds, Inc. Valued at 13.5 Billion

2011-09-07T09:17:00.000+08:00

"Consideration of the offer of JP Guilds, Inc. to a Long Term Joint Venture in
exchange of BHI or other subsidiaries to render marketing and financial
representations in behalf of the Puerto Azul Complex with overage share for BHI
of 30% over the useful life of the 30 years Puerto Azul development strategy
valuing its JV share at PhP13.5B. The Company’s Board of Directors has
constituted its outside directors into a committee to represent the fairness and
interests of the minority shareholders. The offer will expire on November 30,
2011."

Source: http://www.pse.com.ph

PSE Listed Company's with Less than 10% Public Float (As of Aug 19, 2011)

2011-08-22T05:39:00.002+08:00

San Miguel buys Malaysia's Esso for $610-M

2011-08-18T02:39:00.001+08:00

San Miguel buys Malaysia's Esso for $610-M | ABS-CBN News

Big Fundies Will Enter in Nihao Mining (NI)

2011-08-15T03:39:00.003+08:00

There is a rumor that a Big Fundies will enter in Nihao Mining. Last Friday (Aug. 12, 2011) Macquarie Securities bought 3,600,000 shares of NI at an average price of Php3.2246. See below:

US Debt Crisis - 2012 is only for America

2011-08-14T05:04:00.000+08:00

Basic Energy Corporation Backdoor Listing Update

2011-07-26T03:14:00.000+08:00

The rumor is a savings bank of a big bank makes backdoor listing through Basic Energy Corporation.

Basic Energy Corporation - Candidate for Backdoor Listing

2011-07-24T22:58:00.000+08:00

I heard from the grapevine that Basic Energy Corporation (BSC) is in talks for a backdoor listing.

Basic Energy Corporation (BSC) was originally incorporated as Basic Enterprises, Inc. on September 19, 1968 and became an oil and gas exploration and development company on April 26, 1971, assuming a new name, Basic Petroleum and Minerals, Inc. Over the years, BSC evolved from an operating company to a holding company under the corporate name, Basic Consolidated, Inc. In 2007, in line with the inclusion among its primary purposes the production of ethanol and other biofuels, and the development of other alternative and renewable energy sources, the Company changed its corporate name from Basic Petroleum Corporation to Basic Energy Corporation. (www.pse.com.ph)

Philex expensive at P27 a share, Pangilinan says

2011-07-21T00:27:00.001+08:00

MANILA, Philippines - First Pacific Co., owner of 31% of Philex Mining Corp., may not be interested in the Social Security System's 22% stake because the miner's shares aren't cheap.| ABS-CBN News

Backdoor listing plans bared | BusinessWorld Online Edition

2011-07-19T06:57:00.002+08:00

CENTURY PROPERTIES, Inc., the majority shareholder of listed East Asia Power Resources Corp., plans to turn the energy company into another real estate firm and thus complete the backdoor listing. | BusinessWorld Online Edition

PWR Updates

2011-07-18T11:45:00.000+08:00

From broker 204. (DA Market Securities, Inc.)

PWR continued its 6-day winning streak closing at 2.62; the stock which is rumored to be the soon-to-be holdings co. of Century Properties is up 232% WoW. The group’s assets is estimated at $2B. Considering PWR’s share structure, that’s an estimate of NAV Php24/share. The company has been in the industry of residential, corporate and leisure developments for over 2 decades. The company has 40 major developments under its belt and has quietly grown to become on of the country’s largest privately-owned full-service real estate firm.

PWR Trading Suspension on Monday - Untrue

2011-07-16T00:48:00.001+08:00

There is a rumor that East Asia Power Resources Corporation (PWR) will be suspended next week. I heard from the grapevine that is not true. There is a new disclosure from PWR that Washington Sycip and Monico V. Jacob will be joining the board of directors of the company. Mr. Sycip (SGV) is the man of integrity and king of compliance. See disclosure here.

PSE to extend trading hours by Oct

2011-07-14T00:31:00.001+08:00

MANILA, Philippines (UPDATE) - The Philippine Stock Exchange will extend trading hours starting October to try to boost trading volumes and match the hours of other Southeast Asian exchanges it will be linked with next year.| ABS-CBN News

Biz Buzz: Petron woos investors

2011-07-04T11:32:00.002+08:00

Leading oil refiner and retailer Petron Corp. sizzled at the stock market last week after market pundits learned that company officials were on an overseas road show. The expectation was that it would be the next entity in the San Miguel group to launch a secondary share sale to comply with the 10-percent minimum public float required by the Philippine Stock Exchange for continued listing. At present, only 8.5 percent of Petron is held and traded by the public.

Ayala, Trans-Asia signs P12.6-B power JV | ABS-CBN News

2011-06-30T03:46:00.001+08:00

MANILA, Philippines - Ayala Corp. said Wednesday its energy unit has signed a joint venture deal with Trans-Asia Oil and Energy Development Corp. for a P12.6 billion thermal power plant in Calaca, Batangas. | ABS-CBN News

Zijin Mining The New Investor of Atlas Mining

2011-06-24T13:07:00.000+08:00

I heard from the grapevine that Zijin Mining will invest in Atlas Mining. MVP is out in the game.

"Zijin Mining Group Co., Ltd is a high-tech benefit-oriented super-large international mining group centered on exploration and development of gold and base metals, listed in Hong Kong Stock Exchange in December 2003 (Stock name: Zijin Mining, stock code: 2899) and issuing its A Shares in April 2008 (Stock name: Zijin Mining, stock code: 601899) at the face value of CHY0.1 per share, the first of its kind in China’s A Share market"

AT: Voluntary Trading Suspension

2011-06-24T09:33:00.000+08:00

During a special meeting held today, the Board of Directors of Atlas
Consolidated Mining and Development Corporation (PSE: AT) (“Atlas”)
approved Atlas’s acquisition of the entire equity interest of CASOP Atlas
Corporation and CASOP Atlas B.V. (collectively, “CASOP”) in Carmen Copper
Corporation (“CCC”) which constitutes 45.54% of CCC’s outstanding capital
stock (the “Acquisition”). Following the Acquisition which involves the purchase
by Atlas of all of CASOP’s shares of stock in CCC for a total cash consideration
of US$368 million, CCC will become a 100%-owned subsidiary of Atlas.
Atlas intends to raise US$390 million in funds to finance the Acquisition and to
provide for general working capital requirements of CCC through the issuance
of a combination of debt and equity securities (the “Capital Raising”). In
connection with the Capital Raising, the Atlas Board of Directors has appointed
BDO Capital and Investment Corporation and Evercore Partners as financial
advisers and arrangers.
The structure of the Capital Raising will be discussed and determined at the
next meeting of the Atlas Board of Directors which is scheduled on 24 June
2011.
The details of the Acquisition and the Capital Raising will be explained to Atlas
stakeholders at a corporate briefing to be held at 2:00 p.m. on 27 June 2011 in
Makati Shangri-La Hotel.

As we anticipate that the announcement of Atlas’s intention to pursue the
transaction described in the Disclosure (the “Transaction”) will materially affect
market activity with respect to the listed Atlas securities (“Atlas Shares”), we
hereby respectfully request the Exchange to suspend the trading of Atlas
Shares on the 24th and the 27th of June 2011.
The trading suspension will enable Atlas to provide its shareholders and the
investing public with equal opportunity (i) to examine the details of the
Transaction which will be explained by Atlas’s officers during a corporate
briefing to be held at 2:00 p.m. on 27 June 2011 in Makati Shangri-La Hotel,
and (ii) to fully appraise their investment position in Atlas Shares in light of the
Transaction

Source: www.pse.com.ph

Ongpin’s ISM wins PBCom

2011-06-23T14:35:00.000+08:00

The group of former Trade Minister Roberto V. Ongpin has won the bidding for a controlling stake in Philippine Bank of Communications.

Philex says Surigao mine contains $22-B copper-gold deposits

2011-06-23T00:52:00.001+08:00

Top miner Philex Mining Corp. estimates its Silangan Project, containing the Boyongan-Bayugo deposit, in southern Surigao province has gold and copper reserve worth at least $22 billion. The project has 5 billion pounds of copper and 9 million ounces of gold, based on the independent estimate by SRK Perth, Australia.| ABS-CBN News

SC: It's final, Cojuangco's San Miguel shares legit | ABS-CBN News

2011-06-22T00:51:00.001+08:00

MANILA, Philippines - The Supreme Court has affirmed with finality that businessman Eduardo "Danding" Cojuangco's block of shares in San Miguel Corp., which was sequestered by government along with the ill-gotten wealth of late dictator Ferdinand Marcos and his cronies, was legally acquired.

Vista Land Oks P1.5-B share buyback

2011-06-16T00:32:00.001+08:00

MANILA, Philippines - Villar-led property firm Vista Land and Lifescapes Inc. said Wednesday its board has approved a share buyback program of up to P1.5 billion to boost shareholder value| ABS-CBN News

Why You Need To Develop Your Own Trading System

2011-05-31T21:29:00.000+08:00

Most novice traders look for trading systems (or signals) to buy or to subscribe to. They pay to be told what, when and how much to buy or sell. Marquez Comelab, author of The Part-Time Currency (Forex) Trader, discusses the benefits and disadvantages of such an approach to trading.

-------------------

There are many trading systems and strategies out there. There are many free ones printed in trading articles, journals, books and on trading-related websites. You can buy them as software or you can subscribe to them periodically.

Novice traders say they do not have the time, the aptitude, the talent nor the brains to work out how to trade properly. They would rather purchase a program or subscribe to a trading system for hundreds – or in some cases – thousands of dollars. They say they do not have to do anything except be told what to buy, when to buy and how much of it you need to buy. Some ask me if this strategy or approach is advisable for trading the financial markets. To answer this question, I am then forced to consider the advantages and disadvantages of using such an approach to trading.

There are reasons why a trader would use a system or strategy that someone else developed and tested:

1. It is easy. A novice trader does not need to study how the market works and how he interacts with that market. He does not need to educate himself: he does not need to bother with books and seminars. He does not need to test the system, since the seller has already done that for him and reported promising hypothetical or actual results.

2. A novice trader hopes to get a trading system at a ‘bargain’ price… sometimes even for free.

Hazards of trading a system or strategy developed and tested by someone else are the following:

1. Faulty Systems

There are many faulty systems out there. They may be faulty because their assumptions and their mechanisms may no longer be true, accurate or valid. As a novice trader, how can you distinguish between the good systems and the bad systems if you don’t know how trading systems are built?

2. Discipline and confidence

All systems have drawdown periods. Some good systems may not make money for six months or an entire year. Even if it was a good system, can you continue to follow it even if it gives you a loss after a loss after a loss? How can you follow it if you do not have confidence in it? How can you be confident if you do not know the ins and outs of the system and if you have not tested it yourself?

I do not believe that people would blindly follow a system even if they were told that it would bring them riches. I can give someone a trading system, I can supply him with exceptional hypothetical or actual results and still, he would not be able to follow it.

I remember giving my dad a fully-mechanical trading system I developed. I told him a few simple rules and I told him not to question them. All he had to do was to follow them. We both traded it for two months, I grew my small account by roughly 50% (it happened to be a good two months), but he was losing. He wondered why. I asked to see his trading records. When I looked at his trading records, I found that he kept disobeying the rules. When I asked him why he disobeyed them, he wanted to improve the results after it had a couple of losing trades. He was trying to improve the results. According to him, the system asked him to do what he thought was not right during certain market conditions, so he did not follow it. I found simple errors too, including opening trades at market price instead of waiting for buy and sell stop orders at support and resistance levels to get triggered. I also asked that he executes trades at the close, but oftentimes he traded two hours before or after the close at his discretion. There were many more rules he breached. He is a smart man: a former civil engineer and now a manager for a big organisation. Why could he not follow instructions? It is simple. He did not know the reasons behind the rules I had set and so he did not appreciate them. His money was on the line and after a series of losses, he lost faith in the system easier than I did because he did not develop and test it himself.

To overcome the hazards above, I see no way except for a trader to learn how to develop his own trading methodology. This is the only way a trader can know if a particular system or strategy is good or not.

Once a trader learns how to develop systems and strategies, he can then be better equipped to test them as well. By this point he might even find that he is better off using the system he created, because it becomes increasingly difficult to find another system more suited to his profit objectives while operating within his risk tolerance levels. It is likely that once he develops this level of competence, he will simply acquire other systems only to dissect them, grab the parts he likes and add them to his own system. To me, the irony is that for a trader to know which system to purchase, he must first learn how to create a system. And after knowing how to create a system, he will no longer have the need to buy one.

In conclusion then, I would have to say that if you are not inclined to learn how to develop your own trading methodology, then perhaps you should consider giving your money for someone else to invest. Give it to someone who is trading a system that he developed and tested himself because he is more likely to have the confidence and courage to follow his own set of rules.

- END OF ARTICLE -
Please include the paragraph below if you are republishing this article online or in print.

About The Author:

Marquez Comelab is the author of the book titled: The Part-Time Currency Trader, a book for novice and intermediate traders. It shows how anybody can develop their own trading methodology to trade the currency (forex) market. See:http://www.marquezcomelab.com .

JG Summit to sell PLDT shares to NTT DoCoMo | The Philippine Star News Business

2011-05-16T05:32:00.001+08:00

By Iris C. Gonzales
Gokongwei-owned JG Summit Holdings, Inc. is eyeing to sell to NTT DoCoMo of Japan the 2.8 percent stake it will receive from the Philippine Long Distance Telephone Co. (PLDT), the company announced in a disclosure late Friday.| The Philippine Star News Business

Lopez Group to keep 6.6% Meralco stake | The Philippine Star News Business

2011-05-12T00:28:00.001+08:00

By Donnabelle L. Gatdula
The Lopez Group has no plans to further divest in power utility giant Manila Electric Co. (Meralco), a top company official said.| The Philippine Star News Business

Trading Halted for Lepanto Consolidated Mining Company

2011-05-11T09:36:00.002+08:00

LEPANTO CONSOLIDATED MINING COMPANY ( LC OR THE CORPORATION )@ @LC, IN A LETTER RECEIVED BY THE EXCHANGE ON MAY 11, 2011 AT 9:19 A.M., STATED TH@AT: @ @ LEPANTO CONSOLIDATED MINING COMPANY INTENDS TO MAKE A MATERIAL DISCLOSURE WITHI@N THE NEXT TWO DAYS AND REQUESTS THAT TRADING OF ITS SHARES BE SUSPENDED IMMEDIA@TELY, TO BE RESUMED AFTER LEPANTO SHALL HAVE MADE THE DISCLOSURE. @@IN VIEW THEREOF, THE EXCHANGE WILL IMPLEMENT A TRADINGSUSPENSION ON LC SECURITI@ES EFFECTIVE TODAY, MAY 11, 2011.@@A COPY OF THE CORPORATION S DISCLOSURE WILL BE UPLOADED SHORTLY.@@FOR THE INFORMATION AND GUIDANCE OF THE INVESTING PUBLIC.

Pepsi bares 75% profit drop | The Philippine Star News Business

2011-05-11T00:36:00.001+08:00

By Zinnia B. Dela Peña
Pepsi-Cola Products Philippines Inc. (PCPPI) reported a 75 percent drop in net income for the first quarter this year amid aggressive competition and a challenging business landscape due to the continuous hike in oil and commodity prices. | The Philippine Star News Business

Stock market seen to end mixed with negative bias | The Philippine Star News Business

2011-05-09T02:21:00.001+08:00

By Zinnia B. Dela Peña
The local stock market will continue to see a mixed performance this week, albeit with a negative bias, with weakness on Wall Street coupled with lingering concerns over the US economy, seen weighing in on investor sentiment.| The Philippine Star News Business

Philex Mining acquires 5% of Lepanto | The Philippine Star News Business

2011-05-06T02:10:00.001+08:00

By Marianne V. Go
Philex Mining Corp. has acquired a five-percent stake in Lepanto Consolidated Mining Corp.| The Philippine Star News Business

DGTL & PLDT Deal Will Not Push Through

2011-05-05T00:44:00.000+08:00

Heard from the grapevine that the deal between DGTL and PLDT will not push through this June. It will be extended by one month or two months.

SMC to resume trading shares | The Philippine Star News Business

2011-05-05T00:21:00.001+08:00

By Zinnia B. Dela Peña
Trading in San Miguel Corp. (SMC) stocks resumes today after a three-week voluntary suspension.| The Philippine Star News Business

Lopez Holdings nets P13.17B | The Philippine Star News Business

2011-05-04T00:25:00.001+08:00

Lopez Holdings nets P13.17B
By Zinnia B. Dela Peña M
Lopez Holdings Corp. (formerly Benpres Holdings Corp.) reported a net income of P13.17 billion last year, up 10.7 percent from P11.9 billion in 2009, on the record performance of ABS-CBN Broadcasting Corp. and gains from asset sales.| The Philippine Star News Business

PSE Calendar of Events

2011-05-03T00:47:00.003+08:00

02-May-11 - JFC Jollibee Foods Corp - Ex-date Php0.5 Cash Dividend

02-May-11 - SCC Semirara Mining Corp - Annual Shareholding Meeting

04-May-11 - SPH Splash Corp - Ex-date Php0.11 Cash Dividend

04-May-11 - TDY Tanduay Holdings Inc - Annual Shareholding Meeting

05-May-11 - CHIB China Banking Corp - Annual Shareholding Meeting

10-May-11 - FLI Filinvest Land Inc - Ex-date Php0.0392 Cash Dividend

10-May-11 - FFI Filipino Fund Inc - Annual Shareholding Meeting

10-May-11 - LFM Liberty Flour Mills - Ex-date Php0.05 Cash Dividend

Lepanto allots P700M for Victoria gold mine development | The Philippine Star News Business

2011-05-03T00:33:00.001+08:00

By Zinnia B. Dela Peña
Lepanto Consolidated Mining Co. will spend P700 million for a five-month development program for its Victoria gold mine in Mankayan Benguet beginning this month, the company said yesterday.| The Philippine Star News Business

DMCI unit pushes expansion of Calaca facility | The Philippine Star News Business

2011-05-02T00:54:00.000+08:00

By Donnabelle L. Gatdula
DMCI Power Corp., the power generation unit of the Consunji Group, is proceeding with the first phase of the expansion project for the 600-megawatt (MW) Calaca coal-fired facility.

| The Philippine Star News Business

Semirara Mining Declares P10/sh Cash Dividend

2011-04-29T04:15:00.000+08:00

Semirara mining declared a P10 per share cash dividend to common shareholders. At its current price of 220.80 per share, this represents a dividend yield of 4.5%. The ex-date will be on May 24 while the payment date will be on June 22.

Alcantara power plant to start by 2014 | The Philippine Star News Business

2011-04-29T00:50:00.001+08:00

By Donnabelle L. Gatdula
Conal Holdings Corp. (CHC), the power generation arm of the Alcantara Group, expects the commercial operation of its 200-megawatt coal-fired power plant to start by mid-2014 in Saranggani, Mindanao, a company official said. | The Philippine Star News Business

SMC ends share offer ahead of sked due to strong demand | The Philippine Star News Business

2011-04-28T00:28:00.001+08:00

SMC ends share offer ahead of sked due to strong demand
By Zinnia B. Dela Peña
San Miguel Corp. closed yesterday its equity offering ahead of schedule on strong demand for its shares, according to the local underwriters| The Philippine Star News Business

Metro Pacific Holdings converts P6.6-B bonds into MPIC equity | The Philippine Star News Business

2011-04-27T03:36:00.001+08:00

By Mary Ann Ll. Reyes
Metro Pacific Holdings Inc. (MPHI) has exercised its conversion rights with respect to the P6.6-billion convertible bonds issued by Metro Pacific Investments Corp. (MPIC) last March 30, further raising its stake in the latter.| The Philippine Star News Business

Aboitiz Power gets nod to build hydropower plant in Mt Province | The Philippine Star News Business

2011-04-26T03:00:00.001+08:00

By Donnabelle L. Gatdula
Aboitiz Power Corp. (APC), the power generation arm of the Aboitizes, will proceed with the construction of a hydroelectric power plant in Mt. Province after clearing some regulatory hurdles.| The Philippine Star News Business

Atlas says ore sale to fund resumption of Berong nickel project

2011-04-25T00:37:00.002+08:00

MANILA, Philippines - Atlas Consolidated Mining and Development Corp. said Wednesday it is raising capital to fund the reopening of its nickel mining operations.| ABS-CBN News

PSE Calendar of Events

2011-04-21T17:28:00.000+08:00

25-Apr-11 - HP Highlands Prime Inc - Annual Shareholding Meeting
26-Apr-11 - CSB Citystate Savings Bank Inc - Annual Shareholding Meeting
26-Apr-11 - PRC Philippine Racing Club - Annual Shareholding Meeting
26-Apr-11 - PTC Philtrust Bank Annual - Annual Shareholding Meeting
26-Apr-11 - SMDC SM Development Corp - Annual Shareholding Meeting
27-Apr-11 - SM SM Investments Corp - Annual Shareholding Meeting
28-Apr-11 - ATI Asian Terminals Inc - Annual Shareholding Meeting
28-Apr-11 - BEL Belle Corporation - Annual Shareholding Meeting
28-Apr-11 - MVC Mabuhay Vinyl Corp - Annual Shareholding Meeting
28-Apr-11 - SINO Sinophil Corp - Annual Shareholding Meeting

SMC Secondary IPO Price @ P110 per share

2011-04-20T12:17:00.002+08:00

Heard from the grapevine that SMC Secondary IPO Price is P110 per share.

San Miguel share sale guidance at P110 to P140 –IFR | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features

2011-04-20T02:33:00.001+08:00

MANILA, Philippines - Diversifying conglomerate San Miguel Corp. may price the shares it plans to sell at P110 to P140 each, well below what the company had targeted, IFR reported, quoting bookrunners.| Latest Philippine Headlines

Manila Mining says deal with Philex on Kalayaan 'done' | The Philippine Star News Business

2011-04-20T00:39:00.001+08:00

By Marianne Go
Lepanto Consolidated affiliate Manila Mining Corp. is hopeful that it has a “done deal” with Philex Mining regarding the Kalayaan property. | The Philippine Star News Business

Alliance Global net earnings jump 40% to P9.5B in 2010 | The Philippine Star News Business

2011-04-19T00:23:00.001+08:00

By Zinnia B. Dela Peña
Alliance Global Group Inc. (AGI), the holding firm for the various business interests of property tycoon Andrew Tan, said yesterday its consolidated net earnings jumped 40 percent last year to P9.5 billion, mainly due to the robust growth in property and liquor sales and strong revenues from its casino and tourism business.

| The Philippine Star News Business

100% Stock Dividend - Philippine Stock Exchange (PSE)

2011-04-14T11:06:00.002+08:00

The Philippine Stock Exchange (PSE) declared 100% stock dividend. The Ex-Date will be on May 25, 2011 payable on June 8, 2011.

Trading of SMC shares frozen | The Philippine Star News Business

2011-04-14T00:08:00.001+08:00

By Zinnia B. Dela Peña
The Philippine Stock Exchange (PSE) has implemented a trading suspension on the common and preferred shares of San Miguel Corp. (SMC) beginning yesterday, ahead of a share and bond sale by the diversifying conglomerate.| The Philippine Star News Business

SC declares Cojuangco's share in San Miguel not ill-gottens

2011-04-13T00:10:00.000+08:00

The Supreme Court has ruled that stake of businessman Eduardo "Danding" Cojuangco in diversifying conglomerate San Miguel Corp. was not acquired using coco levy funds.

In a 73-page decision penned by Associate Justice Lucas Bersamin, the Court en banc dismissed the petition filed by the Presidential Commission on Good Government (PCGG), seeking the reversal of the 2007 Sandiganbayan ruling, which declared that Cojuangco did not illegally use coco levy funds to acquire 20% of San Miguel.| ABS-CBN News

SanMig launches placement and EB to raise US$850m

2011-04-11T18:52:00.001+08:00

Philippine conglomerate San Miguel Corp has launched an international roadshow for an offering of treasury shares. Concurrent with the offer, the company also plans to issue US-denominated exchangeable bonds to be converted into treasury shares. Bookbuilding dates for the EB have yet to be confirmed. The equity offer and the EB issue are expected to raise a total of US$850m, with a 10% greenshoe of secondary shares also available from the company’s largest shareholder, Top Frontier. The Reg S equity offering will price on April 20. Bookrunners have not set a price range for the equity offering, but guidance will be given during bookbuilding. The final size of each component of the offering will be decided based on investor feedback.
Source: http://www.ifrasia.com/equities-sanmig-launches-placement-and-eb-to-raise-us$850m/631085.article

Lopez Holdings nets P13.2 billion in 2010 | The Philippine Star News Business

2011-04-11T00:25:00.001+08:00

By Zinnia B. Dela Peña
Lopez Holdings Inc., the listed flagship firm of the Lopez family, posted a net income of P13.2 billion last year, up 10.9 percent from P11.9 billion in 2009 on robust growth across its businesses.| The Philippine Star News Business

Alliance Select Foods to set up shop in US | The Philippine Star News Business

2011-04-08T01:08:00.001+08:00

By Zinnia B. Dela Peña
Publicly-listed Alliance Select Foods International (FOOD), the leading canned tuna manufacturer in the country, plans to set up shop in the United States as part of a strategy to further expand its reach.| The Philippine Star News Business

Atlas unit to resume nickel mining operations | The Philippine Star News Business

2011-04-07T05:03:00.001+08:00

By Marianne V. Go
Berong Nickel Corp. (BNC), a subsidiary of Atlas Consolidated Mining and Development Corp., is set to resume its nickel laterite mining operations in the next few weeks, top company officials said.| The Philippine Star News Business

PNB income jumps 61% to P3.54B in 2010 | The Philippine Star News Business

2011-04-06T00:33:00.001+08:00

By Ted Torres
Philippine National Bank (PNB) recorded a 61-percent increase in net income last year to a record P3.54 billion, from P2.2 billion in 2009, due to higher non-interest income and trading gains.| The Philippine Star News Business

First Gen raises stake in EDC | The Philippine Star News Business

2011-04-05T01:01:00.001+08:00

By Donnabelle L. Gatdula
First Gen Corp., the power generation arm of the Lopez Group, increased yesterday its ownership in Energy Development Corp. (EDC) to over 46 percent by exercising its remaining call option| The Philippine Star News Business

Robinson Bank is Buying JG Summit Shares in the Open Market

2011-04-04T04:25:00.002+08:00

According to my friend who is working in the treasury department of Robinsons Bank that ROB bank is actively buying JG Summit shares in the open market.

RobinsonsBank as a wholly owned JG Summit Group company was established in November 1997 to further broaden JG Summit’s financial reach.

CitisecOnline mulls new products | The Philippine Star News Business

2011-04-04T00:27:00.000+08:00

By Zinnia B. Dela Peña
Leading online stockbroker Citisec Online.com (COL) is planning to distribute mutual funds of the country’s biggest players as well as other instruments to provide a new revenue stream.| The Philippine Star News Business

Sun to continue unlimited services | The Philippine Star News Business

2011-04-01T02:12:00.001+08:00

By Mary Ann Ll. Reyes
Sun Cellular will continue to offer unlimited mobile voice and text messaging services even after Philippine Long Distance Telephone Co. (PLDT) completes its investment in Digitel Inc., Sun’s parent company, PLDT president and CEO Napoleon Nazareno said yesterday.| The Philippine Star News Business

JG SUMMIT TO ACQUIRE STAKE IN PLDT IN ALL-SHARE TRANSACTION

2011-03-29T13:33:00.000+08:00

JG Summit to acquire shares in PLDT in exchange for its entire holdings in Digitel
• Transaction to have an equity value of P74.1 billion
• Consumers to benefit from wider and complementary array of products and
improved quality of service
• Paired networks to accelerate continued expansion of broadband rollout and other
next-generation technologies in both fixed and wireless space
MANILA, Philippines : 29th March 2011 - JG Summit Holdings, Inc (“JGS”) (PSE:JGS)
and Philippine Long Distance Telephone Company (“PLDT”) (NYSE: PLDT) (PSE: TEL)
announced that at meetings held earlier today, their respective Boards of Directors
approved the acquisition by PLDT of JGS’s and certain other parties’ ownership interest
in Digital Telecommunications Philippines, Inc. (“Digitel”) (PSE:DGTL), comprising (i)
3,277,135,882 common shares in Digitel, representing a 51.55% equity stake; (ii) zerocoupon convertible bonds issued by Digitel and its subsidiaries to the JGS Group which
are assumed to be convertible into approximately 18.6 billion shares of Digitel by 30
June 2011; and (iii) intercompany advances of P34.1 billion made by the JGS Group
and certain of such parties to Digitel and its subsidiaries (the “Assets”).

Source: http://www.pse.com.ph/html/disclosure/pdf/2011/pdf/dc2011-2288_JGS.pdf

Digitel stocks soar on takeover rumors | The Philippine Star News Business

2011-03-29T04:54:00.002+08:00

By Zinnia B. Dela Peña

MANILA, Philippines - Shares of Digital Telecommunications Philippines (Digitel), the telecommunication arm of the Gokongwei family’s listed flagship firm JG Summit Holdings Inc., shot up 18 percent yesterday on persistent rumors it could be a takeover target. | The Philippine Star News Business

AgriNurture to raise P2B via debt, equity offerings | The Philippine Star News Business

2011-03-29T04:19:00.001+08:00

By Zinnia B. Dela Peña
Listed food exporter AgriNurture Inc. (ANI) is planning to raise P2 billion through debt and equity offerings to cover its five-year capital expenditure program.| The Philippine Star News Business

IPVG sells stake in Prolexic Tech | The Philippine Star News Business

2011-03-28T01:29:00.001+08:00

Publicly listed technology conglomerate, IPVG Corp. recently sold part of its equity stake in Prolexic Technologies, Inc. (Prolexic). | The Philippine Star News Business

Trans-Asia Oil okays stock rights offering | The Philippine Star News Business

2011-03-24T03:41:00.001+08:00

Trans-Asia Oil & Energy Development Corp. said the other day its board has approved a plan to undertake a stock rights offering. | The Philippine Star News Business

Benguet returns to financial health | The Philippine Star News Business

2011-03-22T00:10:00.000+08:00

By Marianne V. Go
Benguet Corp. (BC) continues to strengthen financially and expand its operation to take full advantage of high commodity prices. In the first 10 months of 2010, as audited, it posted a net profit of P2.3 billion. | The Philippine Star News Business

EDC allots P14.5 billion for wind energy project | The Philippine Star News Business

2011-03-21T04:26:00.000+08:00

By Ma. Elisa P. Osorio
The Energy Development Corp. (EDC) will be investing P14.475 billion for a wind energy project in Burgos Ilocos Norte.| The Philippine Star News Business

Top Frontier takes additional 20% stake in SMC | The Philippine Star News Business

2011-03-17T00:37:00.001+08:00

By Zinnia B. Dela Peña
Top Frontier Investments Holdings Inc., a privately-held firm controlled by the group of former Trade Minister Roberto V. Ongpin, completed yesterday the acquisition of the 20-percent stake held by Q-Tech Alliance Holdings Inc. in food-to-power conglomerate San Miguel Corp. (SMC).| The Philippine Star News Business

Banco Filipino declares bank holiday | The Philippine Star News Business

2011-03-16T00:53:00.001+08:00

By Lawrence Agcaoili
Several branches of Banco Filipino Savings and Mortgage Bank of the Aguirre family were closed for a bank holiday, the second time that the bank with a popular slogan of “Subok na Matibay, Subok na Matatag” closed down in a span of 26 years.| The Philippine Star News Business

SMC posts P20.1-B income in 2010 | The Philippine Star News Business

2011-03-15T01:21:00.001+08:00

By Zinnia B. Dela PeÑa
Diversifying conglomerate San Miguel Corp. (SMC) posted net earnings of P20.1 billion last year, sharply lower than the P57.8 billion recorded in 2009 boosted by a string of huge asset sales.| The Philippine Star News Business

PSE sees more companies listing | The Philippine Star News Business

2011-03-10T00:01:00.001+08:00

By Zinnia B. Dela Peña
The Philippine Stock Exchange (PSE) sees more companies lining up to list following the approval by the Securities and Exchange Commission of the proposed amendments to the rules on listing by way of introduction.| The Philippine Star News Business

AgriNurture sets follow-on offering of shares in third quarter | The Philippine Star News Business

2011-03-09T00:59:00.001+08:00

By Zinnia dela Peña
Food exporter AgriNurture Inc. (ANI) is preparing for its planned follow-on equity offering this year to raise between P1.5 billion and P2 billion.

| The Philippine Star News Business

Marcventures Mining gets ECC | The Philippine Star News Business

2011-03-08T00:50:00.001+08:00

By Zinnia B. Dela Peña
Marcventures Mining & Development Corp. (MMDC) has obtained its environmental compliance certificate (ECC) from the government, paving the way for the first shipment of nickel ore from its mine site in Cantillan, Surigao Del Sur to overseas markets.| The Philippine Star News Business

Sta Lucia Land to raise up to P200M via follow-on offer | The Philippine Star News Business

2011-03-07T00:56:00.001+08:00

By Zinnia B. Dela Peña
Sta. Lucia Land, the listed property unit of the Sta. Lucia Group, is aiming to raise up to P200 million through a follow-on offering of shares in the fourth quarter this year or early 2012.| The Philippine Star News Business

Philex, Manila Mining revive deal for joint development of mine sites | The Philippine Star News Business

2011-03-03T03:41:00.001+08:00

By Mary Ann LL. Reyes
Two of the country’s biggest mining companies are nearing an agreement to jointly explore and develop certain properties. | The Philippine Star News Business

SMDC to hike capital to P12.4B to cover 15.1% stock dividend | The Philippine Star News Business

2011-03-02T01:30:00.001+08:00

By Zinnia B. Dela Peña
SM Development Corp. (SMDC), the residential property unit of the SM Group of taipan Henry Sy, is raising its authorized capital to P12.4 billion from P8 billion to cover its 15.1-percent stock dividend declaration. | The Philippine Star News Business

Local stocks likely to bounce back this week | The Philippine Star News Business

2011-02-28T01:09:00.000+08:00

Local stocks likely to bounce back this week
By Zinnia B. Dela Peña
Local stocks are likely to bounce off a week-long selloff as investors scamper for bargain issues.| The Philippine Star News Business

Eastern Petroleum eyes IPO in 2 years | The Philippine Star News Business

2011-02-24T01:29:00.001+08:00

Eastern Petroleum eyes IPO in 2 years
By Donnabelle L. Gatdula
Independent oil player Eastern Petroleum Corp. (EPC) plans to undertake an initial public offering (IPO) of its shares in the short term, a top company official said.| The Philippine Star News Business

DMCI wins P9.3-B contracts from Razon firm, San Miguel | ABS-CBN News

2011-02-23T01:08:00.001+08:00

MANILA, Philippines - A unit of Consunji-led DMCI Holdings has won 3 contracts worth P9.37 billion mostly from the groups led by businessman Enrique Razon and conglomerate San Miguel Corporation.| ABS-CBN News

Stock Picks For Tomorrow

2011-02-22T01:08:00.001+08:00

Watch Alliance Select Foods International, Inc. (FOOD) tomorrow. This might continue to go up as FOOD closed with a white Marubozu. The White Marubozu is a long white body with no shadows on either end. This is an extremely strong pattern. FOOD has an initial target price of P2.00.

See Chart Below:

Robinsons Land eyes P14-B rights offer | ABS-CBN News

2011-02-18T02:57:00.002+08:00

MANILA, Philippines - Property developer Robinsons Land Corp. said on Thursday it had board approval to raise P13.65 billion ($315 million) from a stock rights issue.
The company said in a statement it set a discount price of P10 per share for the 1-for-2 rights issue, but did not say when the offer of up to 1.36 billion common shares would be launched.| ABS-CBN News

Chemrez plans to invest P400 million on new manufacturing plant | The Philippine Star News Business

2011-02-17T00:17:00.001+08:00

By Donnabelle L. Gatdula
Chemrez Technologies Inc., the country’s top biodiesel, resins and oleochemicals producer, is planing to invest almost P400 million on the construction of a new manufacturing plant. | The Philippine Star News Business

San Miguel says to sell shares in 2 months | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features

2011-02-16T01:00:00.001+08:00

MANILA, Philippines - San Miguel Corp. eyes to sell shares by April or May to raise funds for investments.
San Miguel earlier said it was selling 1 billion shares for more than P200 each, 11% higher than Monday's market closing price of P179.60. | ABS-CBN News

GSIS Doing a Due Diligence with ORE

2011-02-15T01:34:00.000+08:00

I heard from the grapevine that last weekend GSIS and some potential investors is in Palawan conducting a due diligence and ocular inspection in ORE mine site. Rumors that ORE will have it's first shipment this first quarter of 2011.

Megawide IPO oversubscribed | The Philippine Star News Business

2011-02-14T00:31:00.002+08:00

By Zinnia B. Dela Peña
Bucking the generally bearish market sentiment, fast-growing construction and engineering firm Megawide Corp.’s initial public offering was oversubscribed three times, its lead underwriter and financial advisor said on Friday after the offering closed.| The Philippine Star News Business

San Miguel plans $4-B investment | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features

2011-02-10T00:56:00.001+08:00

MANILA, Philippines (UPDATE) - Diversifying conglomerate San Miguel Corp. said Wednesday it plans to invest $4 billion in high-growth areas such as infrastructure and energy over the next 5 years as it looks to double sales. | ABS-CBN News

MRC Allied to raise P1.5B via private placement | The Philippine Star News Business

2011-02-09T00:40:00.001+08:00

By Zinnia B. Dela Peña
MRC Allied Inc. is raising P1.5 billion through a private placement of shares as part of a two-phased fund-raising program to jumpstart the development of a 7,995-hectare gold and copper mine site in Mindanao.| The Philippine Star News Business

Andrew Tan firm offers P14 B for FTI | The Philippine Star Ne

2011-02-08T00:58:00.001+08:00

By Zinnia B. Dela Peña
Empire East Land Holdings Inc., the middle- income housing company of real estate tycoon Andrew Tan, has offered to acquire the 103-hectare Food Terminal Inc. (FTI) in Taguig for P14 billion. | The Philippine Star Ne

Sta Lucia unit sets P11-billion capex | The Philippine Star News Business

2011-02-07T01:07:00.001+08:00

By Zinnia B. Dela Peña
Sta Lucia Land, the listed property unit of the Sta.Lucia Group, has set a capital expenditure program of P11 billion over a five-year period to bankroll new residential, office and commercial projects.| The Philippine Star News Business

Megawide IPO draws interest of Sy family, SMC, Phinma | The Philippine Star News Business

2011-02-03T00:40:00.001+08:00

By Zinnia B. Dela Peña
Several big corporations, including San Miguel Corp. and Phinma Properties, have reportedly expressed interest to invest in Megawide Corp., in addition to the Sy family, which has agreed to take a 20-percent stake in the fast-growing contractor, sources said yesterday.| The Philippine Star News Business

VMC attempts stock market comeback | The Philippine Star News Business

2011-02-02T01:09:00.002+08:00

By Zinnia B. Dela Peña
Sugar miller Victorias Milling Co. (VMC) Inc. is targeting to wipe out its deficit by the end of its fiscal year ending August 2011 as it aims to make a comeback in the stock market.| The Philippine Star News Business

SMC sees sales of P530B this year | The Philippine Star News Business

2011-02-01T01:21:00.001+08:00

SMC sees sales of P530B this year
By Zinnia B. Dela Peña
Diversifying conglomerate San Miguel Corp. said it expects sales revenues to reach a record P530 billion this year, mainly driven by the continued strong performances across all its units. | The Philippine Star News Business

Business - AGI an ‘emerging blue chip’ - INQUIRER.net

2011-01-31T03:40:00.001+08:00

Alliance Global Inc.—the holding company of tycoon Andrew Tan and the parent firm of Megaworld Corp.—is an emerging blue chip company and a good “proxy” for stock marketinvestors seeking to ride the expected economic surge under the present Aquino administration. - INQUIRER.net

Nihao Mining to be listed Overseas

2011-01-27T23:22:00.000+08:00

Heard from the grapevine that Nihao Mining (NI) is currently negotiating with a big chinese partner in China for a possible listing overseas.

San Miguel wants steep premium for share sale | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features

2011-01-27T03:05:00.001+08:00

MANILA, Philippines - San Miguel Corp. plans to price a share offer in the first quarter at a steep premium to the current market price, its president said, setting it at a level that would raise more than P200 billion.
The issue would be priced at more than P200 ($4.5) per share, 20% or more above Wednesday's closing price, San Miguel president Ramon Ang said. | ABS-CBN News

Atlas unit makes 35th copper shipment | The Philippine Star News Business

2011-01-26T01:04:00.001+08:00

By Zinnia Dela Peña
Atlas Consolidated Mining & Development Corp., through its unit Carmen Copper Corp. (CCC), has completed its 35th shipment of copper concentrates produced from its Toledo copper mine in Cebu worth about $12.93 million (P575.83 million). | The Philippine Star News Business

Splash forms holding firm in Singapore for overseas ventures | The Philippine Star News Business

2011-01-25T01:00:00.002+08:00

By Zinnia B. Dela Peña
Splash Corp., a leading Filipino-owned beauty and personal care products maker, is setting its sights on acquisitions overseas through its recently formed holding company in Singapore. | The Philippine Star News Business

San Miguel 2ndPO P250 Target

2011-01-24T00:37:00.000+08:00

I heard from the grapevine that San Miguel second public offering will be priced at P250.

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2011-01-20T17:32:00.001+08:00

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SMC unit taps 3 banks for $500-million bond issue | The Philippine Star News Business

2011-01-20T00:54:00.001+08:00

By Zinnia B. Dela Peña
Diversifying conglomerate San Miguel Corp. (SMC) said yesterday that its wholly-owned power unit has tapped three banks as joint bookrunners and lead managers for a five-year dollar bond issue amounting to at least $500 million.| The Philippine Star News Business