PSE Round-Up: December 12, 2012

PSE Market Summary:

The Philippine Stocks Market was down by 11.71 or .20% to close at 5,819.79. Total trades recorded were 31,926 with 99 stocks advances, 71 declines and 43 remaining unchanged.

APM Gets P 74.81B Infusion

Alcorn Gold Resources Corp (PSE:APM) approved the P74.81 billion equity infusion by businessman Lucio L. Co paving the way for the dormant oil and mining company to transform as a holding firm for Co's other businesses. The subscription will give APM ownership to various businesses as follows:

• 51% in supermarket operator Puregold Price Club, Inc.; 
• 100% in commercial property developer and lessors Ellimac Prime Holdings, Inc.; 
Go Fay & Co.; Incorporada; SVF Corp.; Nation Realty, Inc.; 118 Holdings, Inc.; 
Patagonia Holdings Corp.; Fertuna Holdings Corp.; 
• 100% in liquor distributors Premier Wine and Spirits, Inc.; Montosco, Inc.; and 
Meritus Prime Distributions, Inc.; as well as 
• 100% in oil storage tanks and facilities lessor Pure Petroleum Corp.

PSE Round-Up: October 23, 2012

PSE Market Summary:

The Philippine Stocks Market ended its three-day losing skid by increasing 7.53 points to close at 5,432.32. Total trades reached 28,075 with 80 stocks advances, 78 declines and 48 remaining unchanged. 

Four Groups Pre-qualify for LRT Cavite Extension Project

San Miguel Corp. (PSE:SMC), Metro Pacific Investments-Ayala Corp joint venture (PSE:MPI & PSE:AC), DMCI Holdings, Inc. (PSE:DMC) and MTDC-Samsung consortium completed the submission of the required documents to prequalify for a public-private partnership project bid. The project will cover the extension of LRT line extension going to Cavite.

MBT Agree to Sell 30% of Toyota

The Metropolitan Bank & Trust Company (PSE:MBT) has agreed to sell on principle its 30% ownership of Toyota Motor Philippines to GT Capital Holdings (PSE:GTCAP) amounting to P9 billion. Upon execution, GTCAP will increase its stake to Toyota to 51%, while MBT will serve to strengthen its balance sheet and capital position in preparation for the Basel III implementation.

SC 51 Farmors Enter Drilling Agreement

Listed companies Trans-Asia Oil and Energy Development Corporation (PSE:TA), Petro-Energy Resources Corporation (PSE:PERC) and Alcorn Gold Resources Corporation (PSE:APM) entered into agreement with Frontier Oil Corporation for Service Contract No. 51 area (the south block). Under the agreement, Frontier has the option to acquire 8% of the farmors' combined stake bu undertaking to drill the offshore Argao-1 exploratory well at its sole cost and risk. TA, PERC and APM hold 33.34%, 20.06% and 9.32% participating interests, respectively. 

CIP Declares Cash Dividend

Chemical Industries of the Philippines, Inc. (PSE:CIP) declared cash dividend as follows:

cash                    =                      P2.42 per share

ex-date               =                      Nov. 6, 2012

record date        =                      Nov. 9, 2012

payment date    =                       Nov. 26, 2012

DMC Acquires 31% Stake in NRHI

DMC Mining Corporation, a subsidiary of DMCI Holdings, Inc. (PSE:DMC) will acquire Toledo Mining Corporation's shares in Nickeline Resources Holdings, Inc. DMC will pay $6.552 million in exchange for 31% of NRHI shares.

VUL Raises its Capital to P4B

Vulcan Industrial and Mining Corporation (PSE:VUL) announced the increase in its authorized capital stock from P600 million to P4 billion. The increase will allow its major stockholder, National Book Store Group, to increase its holdings to up to P2.9 billion and will convert its P500 million advances into equity.