PSE Market Summary:
The Philippine Stocks Market is up by 8.23 or .13%. Total trades recorded were 35,189 with 90 stocks advances, 84 declines and 39 stocks unchanged. PSEi is up by 62.97 or .97% for the week.
MPI-DMC Reduces Interest With Maynilad
Japanese company Marubeni Corp will own 20% of Maynilad Water after Metro Pacific Investments (PSE:MPI) and DM Consunji Holdings (PSE:DMC) agreed to sell some of its shares. MPI will reduce its shares by 4% while DMC will absorb the remaining 20%, but the two companies will still remain the majority owners, holding 52.8% and 25.24% after the transation for MPI and DMC respectively.
URC Posts 12% Sales Growth
Universal Robina Corporation (PSE:URC) posted sales growth of 11.8% for the first quarter of its fiscal year Oct 2011 to Dec 2012. Net sales increased to P20.098 billion from PP17.98 billion same period last year.
SCC Panian Pit Operations Meets Tragedy
Semirara Mining Corporation reported that the west wall of its Panian Pit collapsed last Feb 13 and has order to stop mining activities. At least 13 personnel are affected and 3 were confirmed dead.