PSE Market Summary:
The Philippine Stocks Market is up by 28.43 or .53% to close at 5,350.90. All sectors were up, led by Property (1.19%) and Industrial (.25%).
CHIPS Unveil Joint Project with Sony LSI; Declares Stocks Dividend
Cirtek Holdings Philippine Corporation (CHIPS) reports it has entered into an agreement to take on the manufacturing, maintenance and sales of test boards while Sony LSI Design, Inc. shall be responsible for marketing, sales support, R&D and cost cutting measures for Sony LSI products. Any profit shall be shared by both parties. CHIPS also declared a 20% stocks dividends, with further details to be announced.
GREEN and HC Reach Agreement on Hydropower Project
Greenergy Holdings, Incorporated (GREEN) entered into agreement to develop, manage, and operate multiple hydropower projects with Hydroring Capital BV. HC is a Dutch company specializing in hydropower and turbine innovations.
ALI to Withdraw Negros Project
Property developer Ayala Land, Inc. (ALI) will no longer pursue its P 6 billion Negros project it won on a government bid due to legalities beyond ALI's control. As of today, the deed of Sale and contract of lease has not been executed pending Commission on Audit's approval.
VLL Declares Cash Dividend
Property developer Vista Land & Landscapes, Inc. (VLL) announced cash dividend declaration as follows:
cash = P .0839 per share
ex-date = Sept. 17, 2012
record date = Oct. 2, 2012
payment date = Oct. 26, 2012
BC Declares Cash Dividend
Mining company Benguetcorp Nickel Mines, Inc. (BC) cash dividend at P .12 per share. relevant dates to be announced soon.
AEV to Raise Funds Through Debt-Financing
Aboitiz Power Corporation (AEV) will seek financing agreements with banks for one of its power plant projects.The projects is expected infuse additional capacity of 1,300 MW.