PSE Market Summary:
The Philippine Stocks Market was up for the third consecutive trade to close at 5,399.94 points. All sectors were up except holding firms, declining by 26.26. A total of 26,475 trades were recorded with 118 advances, 59 declines and 31 stocks remaining unchanged.
PEC Seeks Partners for Cagayan Project
PNOC Exploration Corp (PSE:PEC) is seeking joint venture partners for the exploration of its Cagayan basin project, known as service contract 37. The prospective partners may acquires a minimum of 51% participating interest to 70%.. PEC currently holds 100% stake in the contract
Global Power Eyes Panay Expansion
Global Power, a member company of GT Capital Group of Companies (PSE:GTCAP) signed an agreement with Formosa Heavy Industries to finalize tits current expansion plans in Panay. The company targets a total power capacity of 150 megawatt.
EW Reach to 188 Branches
EastWest (PSE:EW) remain aggressive on its expansion as it opened three branches last Oct. 10 bringing its total branches to 188.. EW has been one of the fastest growing banks in the country and expects to open a total of 100 branches by 2014.