PSE Market Summary:
The Philippine Stocks Market is up for the second straight day, increasing by 26.84 or .50% to close at 5,375.52. A total of 22,786 trades were recorded, with 68 advancers, 84 decliners, and 55 stocks remaining unchanged.
PAL to Buy 10 Additional Planes
PAL Holdings Inc (PSE:PAL) plans to buy 10 wide-bodied planes as part of its Fleet modernization and refleeting program. PAL is estimated to spend $2.5 billion for the future acquisition.
SECB Declares Cash Dividend
Security Bank Corporation (PSE:SECB) declared regular and special cash dividends as follows:
Regular:
cash P.50 per share
ex-date Oct. 12, 2012
record date Oct. 17, 2012
payment date Nov. 14, 2012
cash P.50 per share
ex-date Oct. 12, 2012
record date Oct. 17, 2012
payment date Nov. 14, 2012
SM to Issues USD Bonds
SM Investments Corporation (PSE:SM) announced it the planned issuance of seven and ten-year USD bonds. The offer aims to lengthen the company's debt profile and take advantage of favorable interest environment.
BHI Behind Schedule on Puerto Gallera Project
Boulevard Holdings Inc. (PSE:BHI) reported that Friday's Puerto Gallera Inc. hotel construction is behind on schedule by four weeks due to heavy rains and flooding. The projects turnover is move from January 2013 to February 2013.
GTCAP Continue Expansion in Visayas
Global Business Power Corporation, a subsidiary of GT Capital Holdings, Inc. (PSE:GTCAP) exercised its option to construct third 82 MW of clean power plant in La Paz, Iloilo. The company proceeded with the expansion in anticipation of power demand in the area.