PSE Round-Up: November 19, 2012

PSE Market Summary:

The Philippine Stocks Market is up for the 2nd straight trade to close at P5,449.55. Total trades were slightly higher to 23,020 with 61 stocks advances, 90 declines and 45 stocks remaining unchanged.

PX Completes First Stage of Padcal Rehab

Philex Mining Corporation (PSE:PX) announced the successful completion of its padcal operation's tailings pond, which consist of: 1. complete plugging of penstock A; 2. complete sealing of tunnel A. The rehabilitation was primarily funded by its biggest shareholder, First Pacific Company, Limited.

COL Revenues Up 19% from Philippine Operations

COL Financial Group, Inc. (PSE:COL) posted record numbers via 19% increase of commission revenues to P300.6 million for the first nine months of 2012. Philippine operations accounted for 91% of consolidated revenues, with its HK unit falling behind by 53% from last year. COL stocks closed P18.6 for the day.

PSE Stock of the Week: COL - A Tale of Two Economies

CitisecOnline Financial Group (COL) reported earlier last week that its net income is up to P209.7 million in its first half of operations for 2012. Despite the 48% drop in revenues on its Hong Kong unit its Philippine operations more than made up for the slack, already accounting for 91% of its consolidated revenues. 

COL's total client base is estimate at 37,000 from 28,000 as of end of 2011. The company also maintained its leadership in the Philippine Stocks Exchange gaining a market share of 23% in volume of transactions. It now ranks 7th in value transactions transactions as it handled worth P84.6 billion. 

Despite the strong performance in its Philippine operations, net profits were tempered by its HK unit. This is somewhat expected as market conditions abroad continue to deteriorate due to slowdown in US data and worries on Europe debt crisis. Locally, the solid growth of COL can be viewed that confidence level to invest in the Philippines is high. This also shows that more and more Filipinos have become aware on the importance of investing proven by the increase in client base. 

Perhaps what separates COL from the rest of the local stockbrokers is its shares are listed in the stocks market. This means that you can own a portion of its stocks by buying through the primary market. The company is not only subjected to PSE rules as a broker, but also as a listed entity so there is a perception that the report it caters to customers are more transparent. 

COL share price has enjoyed a gradual appreciation since its initial public offering (IPO). It also launched its enhanced website to better aid clients in booking trading transactions. The company has continued to show dedication in improving services while keeping on track with its growth target. Its shares may not be as highly regarded in investment circles, but I can safely say that CitisecOnline will continue its positive growth and maintain its leadership in stock brokerage for some time.

Disclaimer: This article is solely the opinion of the blogger based on personal research. Any statement made is not a conclusion of absolute fact and is not intended to impose or persuade anyone's judgement.

PSE Round-Up: August 22, 2012

Market Summary:

The Philippine Stocks Exchange Main Index was down by 54.66 points or 1.05%, closing at 5,152.15. All indices closed lower, led by Financials (1.88%) and property (1.55%).

COL Consolidated Net Income Increase by 14.7% in 1st Half 2012

Stockbroker COL Financial Group (formerly Citiseconline) posted P209.10 million in consolidated net income or 14.7% increase during the first half of 2012. The company's Philippine operations continue its strong growth reporting 58.1% increase in commission revenues, tempered only by its Hong Kong operations which fell by 48.2%. Full report can be viewed here.

JFC Enters Joint Venture in China

Food Service Company Jollibee Food Corporation (JFC) entered into agreement to own and operate the Sabu brand in China, Hong Kong and Macau. JFC and Hoppime Ltd will own 48% each of the joint venture, while the remaining 4% will be owned by individuals experienced in retail in China.

Eton Posts P995 Million in Revenues

Eton Properties Philippines, Inc. Recognized P995 million in revenues down by 60% from the same period last year. This was due to non-recognition of delayed construction projects,  posting net income of only P31 million for the half.

AEV Buys Additional UBP Shares

Aboitis Equity Ventures, Inc. bought 250,000 common shares at P102.50 of Union Bank of the Philippines (UBP). This was the second time that AEV bought UBP shares for this month.

Meralco looks into Renewable Energy

Power Distributor Manila Electric Co. plan to venture into renewable energy generation as part of its strategy to ensure adequate supply of power. The 300MW wind farm in Laoag, Ilocos Norte is one of the sources being considered.

Vista Land Offers Homebuilder Bonds

Property Developer Vista Land & Landscapes, Inc. (PSE:VLL) filed a homebuilder bonds with below details:

Up to 2,500,000 accrual bonds

issue price: 100% face value

interest rate: 5% p.a.

step-up interest rate: 6.75% p.a.