PSE Market Summary:
The Philippine Stocks Market was down by four consecutive trades to close at 5,369.60. Total trades were only 23,508 with 66 stocks advances, 84 declines and 56 remaining unchanged.
TDY Gets Approval on Capital Stock Increase
Tanduay Holdings, Inc. (PSE:TDY) received confirmation on the approval of its authorize capital stock from P 5 billion divided into 5 billion shares to P 25 billion into 25 billion shares. This effectively increases TDY's equity.
AEV Purchase Additional UBP Shares
Aboitiz Equity Ventures (PSE:AEV) bought a total of 1,337,750 shares of Union Bank of the Philippines (PSE:UBP) at an average price of P 105.5 to P 106.40 per share.
PHC Plans to Develop Resort
Philcomsat Holdings Corporation plans to develop the Montemar Beach Club located in Bataan. It's mother company, Philippine Communications Satellite Corp (Philcomsat) is currently looking for funding to pursue with the plans.