PSE Market Summary:
The Philippine Stocks Market is on a four-day rally increasing by 38.44 to close at 5,436.38. A total of 26,796 trades were recorded with 89 stocks advances, 66 declines and 53 unchanged.
CEB to Add Flight Destinations
Cebu Pacific, Air (PSE:CEB) is ready to mount additional flights to local destinations that other carriers are planning to abandon. CEB affirms that they have enough planes to cover more flights and expects more planes coming in the next few years. The company currently operates 39 aircrafts, the largest fleet in the Philippines, with an average of 3.6 years.
RFM Finalize Asset Purchase Agreement
RFM Corporation (PSE:RFM) completed the paperworks for the sale of its Swift brand to Pacific Meat Company, Inc. a subsidiary of Century Canning Group. The sale transfer amounting to P800-850 million covers materials and equipment, but excludes the meat plant and building in Cabuyao, Laguna.
MPI to Fully Support Infrastructure Projects
Metro Pacific Investments Corporation (PSE:MPI) issued a statement clarifying recent opinion articles claiming that the company is opposing government plans on key infrastructure projects, particularly in finding new maintenance provider for MRT3. MPI assured the public and the government that it fully supports ways to improve the quality of service in MRT3 and also throughout the country.