PSE Round-Up: December 13, 2012

PSE Market Summary:

The Philippine Stocks Market was down for the second straight day to close at 5,787.95. Total trades recorded were 27,006 with 80 stocks advances, 78 declines and 48 remaining unchanged.

RHI Reports P667M Net Income

Roxas Holdings, Inc. (PSE:ROX) reported net income after tax of P667 million, its highest ever recorded thus far. The positive results were mainly due to improving sugar sales margin.

RLC to Partner with Okada

Robinsons Land Corporation (PSE:RLC) signed an agreement with Kazuo Okada's Universal Entertainment Group to purchase a majority stake in a 30-hectare property. The land is provided a license to be developed as an integrated mixed-use resort gaming and development. 

SM Prime to Open Fifth Mall in China

SM Prime Holdings (PE:SMPH) is scheduled to open SM City Chongqing, its fifth shopping mall located in China. The property has a gross floor area of 149,080 sqm, 85% of which are already under lease. 

PNOC Declares Cash Dividend

PNOC Exploration Corporation (PSE:PNOC) declared cash dividend as follows:

cash                          =             P.25 per share

record date              =              Jan. 2, 2013

payment date           =             Jan. 15, 2013

PSE Round-Up: August 30, 2012

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%.

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.