PSE Market Summary:
The Philippine Stocks Market ended its four-day rally to pull back by 20.81 to P5,513.37. Trades were lowered to 25,265, with 47 stocks advances, 10 declines and 59 stocks remaining unchanged.
RLT to Launch North Skyline Project
Philippine Realty & Holdings Corporation will launch the second tower of the Andrea North Skyline, a P2 billion 32-storey high-end residential tower in New Manila, Quezon City. The tower will offer 278 units with sizes ranging from 50 sqm to 180 sqm.
NTC Reaches Decision on Alleged Telco Overcharges
The National Telecommunications Commission has issued an order to telephone operators Globe (PSE:GLO) and PLDT-Smart (PSE:TEL) to:
1. reduce its regular SMS retail price to other networks from P1 to P.80
2. refund its subscribers the excess charge
3. pay a fine of P200 per day beginnning Dec. 1, 2011 until date of compliance
4. immediately submit within 15 days records of compliance and mode of refund
The telephone companies are still studying legal options in relation to the decision.
AC to invest in Vietnam
Ayala Corporation (PSE:AC) have entered into an agreement with a Vietnam corporation to invest in infrastructure projects in Vietnam. AC will hold at controlling interest at 51% from the joint venture.
CHI and CPV Declares Cash Dividend
Cebu Holdings Inc. (PSE:CHI) and Cebu Property Ventures (PSE:CPV) declared cash dividend as follow:
cash = P.10 per share; P.12 per share
ex-date = Dec. 4, 2012
record date = Dec. 7, 2012
payment date = Dec. 21, 2012