PSE Market Summary:
The Philippine Stocks Market was up two consecutive days, increasing by 13.50 points or .25% to close at 5,383.22 Monday. Stocks advancer edged decliners, 94 to 70, while 43 stocks remained unchanged. Total trades reached 25,666.
CHIPS Partner with Sony LSI
Semiconductor manufacturer Cirtek Holdings Philippines, Corp. (PSE:CHIPS) and Sony LSI Design, Inc. have finalized business plans for the marketing, sales, distribution and manufacturing of high-end test boards used in various electronic gadgets. The potential partnership was previously reported here. CHIPS had also sets its forecast sales at $22 million for full yer 2013.
SGI Declares Cash Dividend
Solid Group, Inc. (PSE:SGI) declared cash dividend from its unrestricted retained earning with below details:
cash = P.06 per share
ex-date = Oct. 25, 2012
record date = Oct. 31, 2012
payment date = On or before Nov. 28
MER Expects Higher Income For 3Q
Manila Electric, Co. (PSE:MER) expects to exceed its P11.6 billion core income recorded at the end of nine months last year. Reports say that electricity sales volume grew 7.6% against same period last year.
RFM-Century Deal "As Good As Done"
RFM Corp. (PSE:RFM) is nearing completion on its negotiation talks with Century Canning Corp to sell its meat processing business. RFM CEO Joey Concepcion III said in an interview that the deal was "as good as done." The news of possibly selling its meat operations segment was earlier reported last week.
FMIC to Delist in PSE
First Metro Investment Corporation (PSE:FMIC) plans to delist its shares from the exchange. FMIC board of directors decided in a recent company meeting that the company plans will continue to operate as a non-listed entity.