PSE Market Summary:
The Philippine Stocks Market slid down by 18.56 to close at 5,687.72. Total trades reached 27,339 with 70 stocks advances, 74 declines and 55 remaining unchanged.
DMC Units Eyes more Nickel Power Mines
The mining unit of DMCI Holdings, Inc. (PSE:DMC) is looking to acquire more nickel mines. DMC currently owns 17% of Toledo Mining Corp and is looking to purchase another 17% more.
SMC to Enter Energy Sector
San Miguel Corporation (PSE:SMC) is looking to expand its business into energy as it participates in a bidding for a $5 billion acquisition of a gas business. The move underscores a push to surpass previous financial performances.
"SB is Philippines' Bank of the Year" - The Banker
Security Bank (PSE:SB) was hailed as the country's bank of the year by The Banker, a well respected banking magazine. The award is given as an annual event to promote industry-wide excellence in global financial institutions. SB has consistently improved its ROE for the last three years with earnings of P6.7 billion in 2011.
LTG to Partner with Spanish Dairy Producer
LT Group (PSE:LTG) will partner with Grupo Leche Pascual, a spanish company in dairy produce business for the sale of yogurt in the Philippines. The products will be marketed by LTG under ABI Pascual Foods.
STI Issues Cash Dividend
STI Education Systems Holdings, Inc (PSE:STI) declared cash dividend as follows:
cash = P.01 per share
ex-date = Dec. 14, 2012
record date = Dec. 19, 2012
payment date = On or before Dec. 28, 2012