Market Summary:
The PSEi increased by 22.89 or .44% to close at 5,219.08. All sectors were up except Industrial, which slightly dropped by .03%. Gainers were led by Property (1.52%) and Mining & Oil (1.20%)
PAL Mum on Airport Structure Plan
The board of directors and officials of Philippine Airlines has neither confirmed nor denied rumors of the company's intention to build its own airport. There had been news over the weekend of the proposed plan that will supposedly put the Philippines at par to international airports such as Sydney, Australia and Heathrow in London. The management said it can not issue any comment to the statements attributed to COO Ramon Ang as the matter has not been discussed with the board.
PLDT to Issue Debt Notes
Philiippine Long Distance Telephone Co. (PSE:PLDT) an $8 billion fixed-rate corporate notes to refinance its existing loans. The notes will have a ten-year maturity with indicative yield of 5.43-5.78%.
MER to issue refund
Power distributor Meralco submitted a proposed P 9.1 billion refund due to overcharge of its "line loss components."The proposal will be subject to Energy Regulatory Commission.
Alaska Apply for Voluntary Delisting
Alaska Milk Corporation submitted a petition for voluntarily delisting of its common shares in the stocks exchange.
Empire East to Issue 1:4 Stock Rights
Property developer Empire East Land Holdings will offer a 1:4 stock rights to market participants with details below:
ex-date = Sept. 10, 2012
Record date = Sept. 13, 2012
Offer period = Oct 8 - 12, 2012
Tentative listing date = Nov. 29, 2012