PSE Market Summary:
The Philippine Stocks Market was up for the third straight trade, increasing by 24.78 or .40% to close at 6,192.42. Total trades reached 26,219 with 101 stocks advances, 61 declines and 50 stocks unchanged.
URC to Invest in Power Gen Business
Universal Robina Corporation (PSE:URC) plans to invest $60 million for a power generation plant in its sugar mill in Visayas. The plant will use bagasse or waste insugarcane milling as feedstock and will start commercial operations in 2014.
RFM Posts 34% Growth
RFM Corporation (PSE:RFM) disclosed that it finished the year with P682 million net income, 34% higher than the P508 million posted last year. The increase were mainly due to the 11% sales growth and lower commodity input costs.