PSE Market Summary:
The Philippine Stocks Market is down by 33.63 or .62% to close at 5,398.69. A total 28,412 trades were recorded with 43 advances, 120 declines and 42 stocks remaining unchanged.
MPI to Expand Health Care Portfolio
Metro Pacific Investments Corp (PSE:MPI) target to expand its presence in the healthcare industry by acquiring additional hospitals throughout the country. MPI have confirmed there are ongoing discussions with several parties, but no definite agreements have been reached.
OV Declares Cash Dividend
Philodrill Corporation (PSE:OV) declared cash dividend with details below:
cash = P.00030 per share
ex-date = Nov. 7, 2012
record date = Nov. 12, 2012
payment date = Dec. 7, 2012
MJC to Maintain Controlling Interest with MJIC
The board of Directors of Manila Jockey Club, Inc. (PSE:MJC) has agreed to maintain controlling interest with its subsidiary, MJC Investments Corp (PSE:MJIC). MJIC shall continue to pursue new investments as long as MJC retains at least 51% ownership with the company.
AC Named Sole Distributor for Volkswagen
Europe's largest carmaker Volkswagen AG has chosen to partner with Ayala Corporation's (PSE:AC) wholly-owned subsidiary, Ayala Automotive Holdings Corporation to be its Philippine distributor for Volkswagen passenger vehicles. The move is part of the European company's plan move to establish its brand in ASEAN region.
PSB Declares Cash Dividend
Philippine Savings Bank's (PSE:PSB) board of directors approved the declaration of P.75 per share cash dividend. The record date and payable date shall be decided by Bangko Sentral ng Pilipinas.
PXP Incurs Net Loss as of 3Q12
Philex Petroleum Corporation (PSE:PXP) recorded a net loss of P131.85 million as of September 30, 2012, compared to a net income of P472.11 million same period last year. The decrease was due to the refurbishment of its Service Contract no. 14 (Galoc) of which PXP holds 60.49% interest. The prior period's net income also included an extraordinary gain of P443.67 million.