PSE Market Summary
The Philippine Stocks Exchange increased by 33.40 or .64% to close at 5,240.50. All sectors were up, except for Property which declined by .45%. Mining & Oil (2.29%) and Financials (1.11%) led the advancers.
PX Can Face Fine Up to P 1 Billion
The Department of Environment and Natural Resources (DENR) is reportedly set to impose double or triple the P325 million fine initially computed for the leaks on its tailing ponds plus a P 200,000 per day penalty starting when the leak occurred on August 1. In all, PX could end up paying P 975 million plus P 8.5 million for the daily fine. The company declined to comment on the assessment until they received the formal communication from DENR.
IPO Declares Cash Dividend
iPeople Inc. (IPO) declared cash dividend today with below details:
Cash = P .6 per common share
Ex-date = Oct. 8, 2012
Record date = Oct. 11, 2012
Payment date = Oct. 26, 2012
JGS Keeps Aaa Rating on P9 Billion Bonds
Conglomerate JG Summit Holdings, Inc. (JGS) managed to keep its credit of Aaa from PhilRatings Services for its P9 billion fixed retail bonds due in 2014. The rating is the highest assigned by the credit agency which exemplifies sound capitalization, strong liquidity, good management and solid market position of its business.
GTCapital Holdings, Inc. (GTCAP) declared cash dividend today with below details:
Cash = P 3.17 per share
Ex-date = Sept. 25, 2012
Record date = Sept. 28, 2012
Payment date = Oct. 22, 2012