PSE Market Summary:
The Philippine Stocks Market was up by 3.99 or .07% to close at 6,048.90. Total trades reached were 28,710 with 85 stocks advances, 78 declines and 46 remaining unchanged.
CPG to Buyback Shares P800M Worth
The management of Century Properties Group (PSE:CPG) has approved its buyback option program and will allot up to P800 million worth of shares in a period of two years. The shares buyback will be implemented as early as January 2013.
BSC to Invest in Geothermal Projects
Basic Energy Corp. (PSE:BSC) plans to invest $2 billion in geothermal, oil and gas exploration in 10 frontier mini-hydro areas. BSC will also look into joint venture to help fund the projects.
RFM to Set P700 M Capex
RFM Corporation (PSE:RFM) disclosed its plan to set its capital expenditure for 2013 at P700 million, primarily to support capacity expansion. Proceeds from the sale of its swift brand will help partly finance its capex.