PSE Round-Up: February 28, 2013

PSE Market Summary:

The Philippine Stocks Market is up by 105.18 or 1.59% to close at 6,721.45. Total trades recorded were 39,443 with 94 stocks advances, 72 declines and 46 stocks unchanged.

MPI Declares Cash Dividend

Metro Pacific Investments (PSE:MPI) declared cash dividend of P.02 per share payable on Apr. 16, 2013. Ex-date and record date will be on Mar 13 and Mar 18 respectively.

PSE Round-Up: February 15, 2013

PSE Market Summary:

The Philippine Stocks Market is up by 8.23 or .13%. Total trades recorded were 35,189 with 90 stocks advances, 84 declines and 39 stocks unchanged. PSEi is up by 62.97 or .97% for the week.

MPI-DMC Reduces Interest With Maynilad

Japanese company Marubeni Corp will own 20% of Maynilad Water after Metro Pacific Investments (PSE:MPI) and DM Consunji Holdings (PSE:DMC) agreed to sell some of its shares. MPI will reduce its shares by 4% while DMC will absorb the remaining 20%, but the two companies will still remain the majority owners, holding 52.8% and 25.24% after the transation for MPI and DMC respectively.

URC Posts 12% Sales Growth

Universal Robina Corporation (PSE:URC) posted sales growth of 11.8% for the first quarter of its fiscal year Oct 2011 to Dec 2012. Net sales increased to P20.098 billion from PP17.98 billion same period last year.

SCC Panian Pit Operations Meets Tragedy

Semirara Mining Corporation reported that the west wall of its Panian Pit collapsed last Feb 13 and has order to stop mining activities. At least 13 personnel are affected and 3 were confirmed dead. 

PSE Round-Up: February 4, 2013

PSE Market Summary:

The Philippine Stocks Market was up forthe 2nd straight trade, increasing by 117.34 or 1.86% to breach the 6,400 mark. Total trades were up to 34,192 with 130 stocks advances, 50 declines and 35 remained unchanged. 

MPI to Spend P36B This Year

Metro Pacific Investments Corp (PSE:MPI) plan to spend a third more of what it spent last year, primarily to boost the capacities of its water and electricity utilities. The budget, approximately amounting to P36 billion, shall help boost MPI's investing target for the coming year.

PSE Round-Up: December 28, 2012

PSE Market Summary:

The Philippine Stocks Market was up by 17.84 or .31% to close the year. PSEi is slightly down by 11.21 from 5,823.94 last week. 

ICT Pulls Out of Syria

International Container Terminal Services, Inc. (PSE:ICT) through its wholly-owned subsidiary in Syria filed a notice of termination with Tartous Port General Company (TPGC). The issuance of notice was prompted by TPGCs refusal to negotiate in good faith for relief from the clear imbalance of the parties' economic relationship, constituting a breach of contract agreement. TPGC represents .6% and .4% of ICT's consolidated volume and revenues.

Marubeni Buys 20% Stake in Maynilad

Japanese trading giant Marubeni Corp. is buying a 20% stake in Maynilad Water Services, Inc. DMCI Holdings (PSE:DMC) will reportedly sell 16% of its shares while Metro Pacific Investments (PSE:MPI) will contribute to the remaining 4%.

PSE Round-Up: December 3, 2012

PSE Market Summary:

The Philippine Stocks Market is up for the sixth straight trade, closing 32.25 higher to 5,672.70. Total trades were recorded at 25,424 with 79 stocks advances, 75 declines and 41 unchanged.

MPI to Invest in De Los Santos Gen. Hospital

Metro Pacific Investments (PSE:MPI) signed an agreement with De Los Santos General Hospital Inc. (DLSGHI) that would give them P250 million capital or 51% ownership in DLSGHI.  DLSGHI currently holds 150 bedroom capacity.    

PSE Stock of the Week: MPI Investing on Our Needs

Metro Pacific Investments Corporation (PSE:MPI) recorded a 10.4% increase in earnings attributable to parent company for the first nine months of 2012 to P4.99 billion. The increase is mainly due to higher profits from Manila Electric Company (PSE:MER), higher billed volumes in Maynilad Water Services, (PSE:MWC) and additional investments in the healthcare segment. 

We like MPI's growth potential because of its investment focus on basic consumer needs. The main source of its revenues come from Meralco, accounting for 65% of its 2012 income. Its healthcare business, meanwhile, is aggresively gaining ground as MPI continue to add more hospitals to their portfolio. Their core net income from healthcare business rose by 31% consisting of six full service hospitals. 

The company is also expected to be a major bidder on the government initiative for a Public Private Partnership given its holdings on infrastructure and its strong financial capability. It even entered into joint venture agreement with Ayala Corporation (PSE:AC) to bid with the MRT extension project. Income from its water holdings in Maynilad can still drive significant growth coming from about 1.5 million people not yet being served in concession areas.

MPI shares closed at 4.27 last Friday, up 3.14% from the previous week. Its PE ratio of 18.98 is a bit high but its well rounded and divested holdings justify the cost as the benefits of investing on it for the long term can foreseeably be rewarding.

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Disclaimer: This article is solely the opinion of the blogger based on personal research. Any statement made is not a conclusion of absolute fact and is not intended to impose or persuade anyone's judgement.

PSE Round-Up: October 24, 2012

PSE Market Summary:

The Philippine Stocks Market is down by 33.63 or .62% to close at 5,398.69. A total 28,412 trades were recorded with 43 advances, 120 declines and 42 stocks remaining unchanged.

MPI to Expand Health Care Portfolio

Metro Pacific Investments Corp (PSE:MPI) target to expand its presence in the healthcare industry by acquiring additional hospitals throughout the country. MPI have confirmed there are ongoing discussions with several parties, but no definite agreements have been reached.

OV Declares Cash Dividend

Philodrill Corporation (PSE:OV) declared cash dividend with details below:

cash                       =                  P.00030 per share

ex-date                  =                  Nov. 7, 2012

record date           =                  Nov. 12, 2012

payment date        =                  Dec. 7, 2012

MJC to Maintain Controlling Interest with MJIC

The board of Directors of Manila Jockey Club, Inc. (PSE:MJC) has agreed to maintain controlling interest with its subsidiary, MJC Investments Corp (PSE:MJIC). MJIC shall continue to pursue new investments as long as MJC retains at least 51% ownership with the company.

AC Named Sole Distributor for Volkswagen

Europe's largest carmaker Volkswagen AG has chosen to partner with Ayala Corporation's (PSE:AC) wholly-owned subsidiary, Ayala Automotive Holdings Corporation to be its Philippine distributor for Volkswagen passenger vehicles. The move is part of the European company's plan move to establish its brand in ASEAN region.

PSB Declares Cash Dividend

Philippine Savings Bank's (PSE:PSB) board of directors approved the declaration of P.75 per share cash dividend. The record date and payable date shall be decided by Bangko Sentral ng Pilipinas.

PXP Incurs Net Loss as of 3Q12

Philex Petroleum Corporation (PSE:PXP) recorded a net loss of P131.85 million as of September 30, 2012, compared to a net income of P472.11 million same period last year. The decrease was due to the refurbishment of its Service Contract no. 14 (Galoc) of which PXP holds 60.49% interest. The prior period's net income also included an extraordinary gain of P443.67 million.

PSE Round-Up: October 23, 2012

PSE Market Summary:

The Philippine Stocks Market ended its three-day losing skid by increasing 7.53 points to close at 5,432.32. Total trades reached 28,075 with 80 stocks advances, 78 declines and 48 remaining unchanged. 

Four Groups Pre-qualify for LRT Cavite Extension Project

San Miguel Corp. (PSE:SMC), Metro Pacific Investments-Ayala Corp joint venture (PSE:MPI & PSE:AC), DMCI Holdings, Inc. (PSE:DMC) and MTDC-Samsung consortium completed the submission of the required documents to prequalify for a public-private partnership project bid. The project will cover the extension of LRT line extension going to Cavite.

MBT Agree to Sell 30% of Toyota

The Metropolitan Bank & Trust Company (PSE:MBT) has agreed to sell on principle its 30% ownership of Toyota Motor Philippines to GT Capital Holdings (PSE:GTCAP) amounting to P9 billion. Upon execution, GTCAP will increase its stake to Toyota to 51%, while MBT will serve to strengthen its balance sheet and capital position in preparation for the Basel III implementation.

SC 51 Farmors Enter Drilling Agreement

Listed companies Trans-Asia Oil and Energy Development Corporation (PSE:TA), Petro-Energy Resources Corporation (PSE:PERC) and Alcorn Gold Resources Corporation (PSE:APM) entered into agreement with Frontier Oil Corporation for Service Contract No. 51 area (the south block). Under the agreement, Frontier has the option to acquire 8% of the farmors' combined stake bu undertaking to drill the offshore Argao-1 exploratory well at its sole cost and risk. TA, PERC and APM hold 33.34%, 20.06% and 9.32% participating interests, respectively. 

CIP Declares Cash Dividend

Chemical Industries of the Philippines, Inc. (PSE:CIP) declared cash dividend as follows:

cash                    =                      P2.42 per share

ex-date               =                      Nov. 6, 2012

record date        =                      Nov. 9, 2012

payment date    =                       Nov. 26, 2012

DMC Acquires 31% Stake in NRHI

DMC Mining Corporation, a subsidiary of DMCI Holdings, Inc. (PSE:DMC) will acquire Toledo Mining Corporation's shares in Nickeline Resources Holdings, Inc. DMC will pay $6.552 million in exchange for 31% of NRHI shares.

VUL Raises its Capital to P4B

Vulcan Industrial and Mining Corporation (PSE:VUL) announced the increase in its authorized capital stock from P600 million to P4 billion. The increase will allow its major stockholder, National Book Store Group, to increase its holdings to up to P2.9 billion and will convert its P500 million advances into equity.

PSE Round-Up: October 17, 2012

PSE Market Summary:

The Philippine Stocks Market is on a four-day rally increasing by 38.44 to close at 5,436.38. A total of 26,796 trades were recorded with 89 stocks advances, 66 declines and 53 unchanged.

CEB to Add Flight Destinations

Cebu Pacific, Air  (PSE:CEB) is ready to mount additional flights to local destinations that other carriers are planning to abandon. CEB affirms that they have enough planes to cover more flights and expects more planes coming in the next few years. The company currently operates 39 aircrafts, the largest fleet in the Philippines, with an average of 3.6 years.

RFM Finalize Asset Purchase Agreement

RFM Corporation (PSE:RFM) completed the paperworks for the sale of its Swift brand to Pacific Meat Company, Inc. a subsidiary of Century Canning Group. The sale transfer amounting to P800-850 million covers materials and equipment, but excludes the meat plant and building in Cabuyao, Laguna.

MPI to Fully Support Infrastructure Projects

Metro Pacific Investments Corporation (PSE:MPI) issued a statement clarifying recent opinion articles claiming that the company is opposing government plans on key infrastructure projects, particularly in finding new maintenance provider for MRT3. MPI assured the public and the government that it fully supports ways to improve the quality of service in MRT3 and also throughout the country. 

PSE Round-Up: August 9, 2012

Trading of TDY Shares Temporarily Suspended

Tanduay Holdings, Inc. (PSE: TDY) disclosed the changes in the corporation's board of directors and equity placement by selling up to 3 Billion shares to institutional investors. Tycoon Lucio C. Tan was elected Chairman for the executive committee. The company will implement a trading halt from 9:00 - 10:00 AM tomorrow, August 10 to give the public sufficient time to digest the information disclosed.

PCOR Issues Preferred Cash Dividend

Petron Corporation declared cash dividend for its preferred shareholders with below details:

4Q2012:

Cash = P2.382 per preferred share

Ex-date  Nov. 13, 2012

Record Date Nov. 16, 2012

Payment Date Dec. 5, 2012

1Q2013:

Cash = P2.382 per preferred share

Ex-date  Feb.15, 2013

Record Date Feb 20, 2013

Payment Date Mar. 5, 2013

MPI Core Net Income Up 30%; Cash Dividend Declared

Metro Pacific Investments Corporation reported P3.46 Billion core net income up 30% from P2.66 Billion previous period last year. The increase was mainly due to higher profit contributions from investment holdings in Meralco, Maynilad and Metro tollways. The company also issued cash dividend with details below in line with its financial results.

Cash = P .012 per common share

Ex-date  Aug. 22, 2012

Record Date Aug. 28, 2012

Payment Date Sep. 21, 2012

SMB Declares Cash Dividend

San Miguel Brewery Inc. Declares cash dividend as follow:

Cash = P .14 per common share

Ex-date  Aug. 23, 2012

Record Date Aug. 29, 2012

Payment Date Sep. 10, 2012

Phoenix Petroleum 1st Half Revenue Up 21%

Phoenix Petroleum Philippines, Inc. announced revenues of P17 Billion in 1H2012, up 21% from P14 Billion reported same period last year. The higher income was driven by increase in sales volume of refined petroleum products and higher fuel charges. Full report can be viewed here.

MBTC Posts 21% Growth

Metrobank and Trust Company (PSE:MBTC) reported P7.4 Billion consolidated income, up 21% from P6.1 Billion same period last year. Increase in the core revenues and reduction of costs were the main drivers for the strong performance. Full report can be found here.

Philex' Padcal Mine Remains Suspended

Philex Mining Corporation's Padcal Mine in Benguet Province will remain suspended until further inspection and safety is assured. It was previously reported that PX stopped its operations in the said plant due to sediment leaks caused by rain but were later contained after 48 hours.