PSE Round-Up: October 25, 2012

PSE Market Summary:

The Philippine Stocks Market is slightly up by 6.47 to close the four-day week at 5,405.16. Total trades were down to 25,456 with 78 advances, 88 declines and 47 stocks unchanged. PSEi is down 27.2 points or .50% for the week.

DMC Acquires 17% of Toledo

DMCI Mining Corporation, a wholly-owned subsidiary of DMCI Holdings, Inc. (PSE:DMC) has acquired 8,480,250 shares, equivalents to 17% shareholdings of Daintree Resources Limited in Toledo Mining Corporation Plc at GBP.40 per share. DMC has other transactions involving Toledo Mining.

BEL Reach Agreement with Melco

Belle Corporation (PSE:BEL) implemented a trading halt from 9:00 AM to 10:00 AM today following the announcement that it has reached an agreement with Melco Crown Entertainment Limited (MCE) to jointly develop an integrated resort complex in BEL's property along Diosdado Macapagal Avenue, Paranaque. MCE is a listed company in the Hong Kong Stocks Exchange which operates gaming facilities in Macau markets. Both companies are expected to make equal investments to the project.

ANI to stop supplying Fresh Harvests to SM

Agrinurture, Inc. (PSE:ANI) formally gave notice that it will stop supplying SM Supermarkets and SM Hypermarkets fresh fruits and vegetables and will pull-out all its inventories by Oct. 31, 2012. ANI expects to free up approximately P60 million of working capital tied up in credit lines from the supermarket chains and will focus instead on distribution channels that generate better returns.

CAT Denies Negotiations with First Pacific

Central Azucarera de Tarlac (PSE:CAT) denies in a recent disclosure that it is currently in talks to sell their company to First Pacific Group, a Hong Kong based company led by Manny V. Pangilinan. CAT is owned by the Cojuangco family that produces raw and refined sugar, alcohol, liquid carbon dioxide and yeast. 

PSE Round-Up: August 28, 2012

Market Summary:

The Philiipine Stocks Exchange closed at 5,175.62 higher by 32.27 points or .63% from friday's close. Most sub-indices closed in the green, led by Property (2.45%) and Holding firms (1.02%). ETON led the advancers surging by 28.90% to close at 4.55 per share. 

FGEN and MER in Talks for Possible Partnership

Meralco PowerGen Corp. and First Gen Corp. confirmed initial talks for a possible partnership to build a Batangas gas project. The natural gas-fired power in San Gabriel is estimated to generate up to 500 megawatt.

ALI Issues Bonds, Declares Dividends

Property developer Ayala Land Corporation approved in its board meeting today the issuance of up to P3 billion bonds with 3-year maturity. The proceeds could be used to fund its FTI acquisition. The company also declared cash dividend with below details:

Cash = P .10385223 per common share

ex-date = Sept. 12, 2012

record date = Sept. 17, 2012

payment date  = Oct. 8, 2012

ANI to Allocate Resources for Expansion

Agribusiness firm Agrinurture Inc. confirmed reports to allocate around P1 billion to help augment rice output in the Philippines. Meanwhile, its Big Chill fruit shake business look to expand overseas eyeing Hong Kong as a prime location to open several stores.

PNOC and DOE agree for Sub-Phase Extension

The Department of Energy has approved the 12-month extension request of PNOC Exploration Corporation to complete its Sub-Phase 2 (SP2) project. This will give the company more time to secure a rig and prepare the drilling of the Apribada project.

Series 2 SMC Prefererred Shares Selling Period Extended

San Miguel Corporation announced that it will extend the selling of its Series 2 preferred shares  until Sept. 4. HSBC is the sole issue manger for the offering.

GLO Allocates $ 400 million Capex

Communications company Globe Telecom, Inc. confirmed it will set aside $ 400 million for capital expenditure (capex) in 2013. The budget will help finance its bankroll telco operations and and completion of its network modernization program.

LRI to Expand Cement Production Capacity

Cement and constrution company Lafarge Republic, Inc. target to supply around 1,000 kilo tons  

of cement per year by adding production capacity. . This will to help boost strong demand and lessen the backlog as construction projects continue to grow.

PGOLD Target 71% Increase in Net Profit

Retailer Puregold Price Club, Inc. remain optimistic as it expects 71% year-on-year increase in net profit. The calculations were based on revised guideline on forecast and strong reception from customers.