Market Summary:
The Philippine Stocks Index is down by 46.41 or .89% to closed at 5,149.31. All subindices declined led by mining and oil (1.26%) and property (1.07%).
Shang Issues Cash Dividend
Shang Properties, Inc. will issue cash dividend with details as follow:
cash = P .40 per share
ex-date = Sept. 12, 2012
record date = Sept. 17, 2012
payment date = on or before Sept. 30, 2012
Drilling Completed for Maibarara
Maibarara Geothermal Inc. (MGI) disclosed that it completed the drilling of its 3rd production well its power plant. MGI is 25% owned by Trans-Asia Oil and Energy Development Corporation, 65% by Petro Green Energy Corporation, and 10% by PNOC Renewables Corporation.
SMC Looking at Delisting Three Units
Conglomerate San Miguel Corp. (PSE:SMC) is open to possible delisting the shares of San Miguel Brewery Inc., San Miguel Properties, Inc., and San Miguel Purefoods Co. Inc. if it can not comply with required public ownership. The PSE set the minimum public float to be maintained at 10%.