PSE Round-Up: February 25, 2013

PSE Market Summary:

The Philippine Stocks Market is up by 56.27 or .84% to close at 6,721.33. Total trades recorded were 30,033 with 112 stocks advances, 55 declines and 43 stocks unchanged. 

EDC Posts 89% Increase

Energy Development Corporation (PSE:EDC) posted consolidated net income of P9.89 billion, 89% higher than P5.24 billion reported in 2011. The rehabilitated power plants primarily contributed to the increase.

PSE Round-Up: February 21, 2013

PSE Market Summary:

The Philippine Stocks Market is up by 18.84 or .28% to close at 6,667.41. Total trades recorded were 37,131 with 59 stocks advances, 117 declines and 38 stocks unchanged.

EDC Declares Cash Dividend

Energy Development Corporation (PSE:EDC) declared cash dividend of .08 per share with payment date on Apr. 8, 2013. Ex-date and Record date is Mar. 6 and Mar. 11 respectively.

PSE Round-Up: November 15, 2012

PSE Market Summary:

The Philippine Stocks Market is down for the third straight day to close at P5,414.82. Total trade were up to 26,034 with 51 stocks advances, 117 declines and 42 unchanged.

VLL Reports Record Sales

Vista Land & Landsapes, Inc. (PSE:VLL) reported sales for the first nine months at P30.1 billion, the highest recorded amount for the company. Net income reached P3.2 billion, slightly behind the P4.2 billion full-year target. VLL stocks closed at P5.04 per share.

AT reports 13.7% Revenue Increase

Atlas Consolidated Mining & Development Corporation (PSE:AT) reported gross sales of P11.36 billion for the first nine months of 2012, up by 13.7% from P9.99 billion same period last year.The increase was driven by higher volume amidst weaker copper prices. AT stocks was unchaged at P17.50 per share.

LR Revenues Up 14%

Leisure and Resorts World Corporation (PSE:LR) announced consolidated revenues for the first nine months of 2012 at P3.345 billion, up 14% same period last year. Net income were up only by 4.5% due to higher franchise fees and taxes.

ALI to Develop Tourism Landbanks

Ayala Land Inc. (PSE:ALI) is preparing to grow and develop its landbank reserves to widen its presence mainly in beach resort segment. ALI has acquired upscale resorts in El Nido and expects to grow about 1,000 hectares more between two to three years in other parts of the country.

FGEN Reports $147M

First Gen Corporation (PSE:FGEN) reported net income attributable to parent of $147 million for the first nine months, significantly higher than the $10.1 million reported same period last months. The result was mainly driven by better results posted by affiliate Energy Development Corporation. FGEN stocks was down by P.15 to close at P22.80 for the day.

PSE Round-Up: October 18, 2012

PSE Market Summary:

The Philippine Stocks Market ended its four-day rally to close at 5,435.94, lower by 2.44 or .04%. Total trades reached 29,840 with 70 advances, 90 declines and 42 stocks remaining unchanged.

RLC In Talks with Japanese Tycoon for a Project

Robinsons Land Corp. (PSE:RLC) the property arm of billionaire John Gokongwei, confirmed that it is currently in talks with Japanese Tycoon Kazuo Okada for a joint development project that may consist of casino, hotel and retail properties. RLC hopes to infuse a significant investment although no definite agreements have been made.

MWC Acquires PT Pam

Manila Water Company, Inc. (PSE:MWC) has acquired 51% of PT Pam Lyonnaise Jaya through a share purchase agreement with Suez Environment, current owner of the shares. PT Pam operates water concessions in Jakarta since 1997 under a contract agreement with the government. The acquisition is still subject for government and regulatory approvals in Indonesia.

EDC to Study Potential Chile Project

Energy Development Corp. (PSE:EDC) will fund as many as six South American projects being developed by Alterra Power Corp. Under the agreement between EDC and Alterra, EDC will have the exclusive right to conduct exploration and has the sole option to advance the projects to a joint venture stage should they find it viable.

TEL Issues 150M Voting Shares

Philippine Long Distance Telephone Company (PSE:TEL) issued 150 million voting preferred shares to BTF Holdings, Inc. BTF is a wholly owned company created for the account of the Beneficial Trust Fund pursuant to TEL's benefit plan.

BMM Declares Cash Dividend

Bogo-Medellin Milling Co. (PSE:BMM) declared cash dividend with details as follows:

cash                            =                 P2.50 per share

ex-date                       =                 Oct. 29, 2012

record date                =                 Nov. 5, 2012

payment date            =                 Nov. 26, 2012 

PSE Round-Up: September 6, 2012

Market Summary:

The Philippines Stocks Exchange is down by .70 or .01% to close at 5,150.11. Most sectors were up, led by Industrial (.27%). Decliners were Services (.45%) and Property (.26%). The Market is now down for three consecutive days.

DMCI Acquires ENK PLC

Conglomerate DMCI Holdings Inc. (PSE:DMC) made a joint offer together with D&A Income Ltd. to acquire share capital of ENK PLC. The joint offerors already has 34.2% shares with valid acceptance. The latest offer give them a controlling interest of approximately 60.7% of the existing share capital. ENK PLC is a UK-based company that focuses on exploration and production of nickel deposits.

EDC Issues Cash Dividend

Energy Development Corporation (PSE:EDC) declared a special cash dividend with below details:

cash = P .04 per common share

ex-date = Sept. 17, 2012

record date = Sept. 20, 2012

payment date = on or before Oct. 16, 2012

FLI Launches New Mid-Rise Project

Property developer Filinvest Land, Inc. (PSE:FLI) launched its latest Mid-Rise Building Project located in Amang Rodriguez, Pasig. One Spatial Pasig is the first of a series of mid rise projects under the "Spatial" product, which offers "more space more value" affordable units to everyone.

Stock of the Week: EDC and Another Bacman Delay

Earlier last week, Energy Development Corporation reported a rise in Net Income for the first half of 2012 by 350%. While this may sound impressive, we have to consider that part of this was the reversal of previous year's losses mainly due to repair of its Bacon-Manito (Bacman) Plant. The report came in after news that management expects another delay from said plant. 

If I recall it right, this is the second or third time that Bacman plant incurred delays. Despite of this, operations from the plant posted positive cash flows from revenues generated from contracts. 

EDC remains an attractive investment because it gives opportunity of diversifying to energy sector. Although the stock valuation have since recovered from its previous low, the company  should be cautious in throwing expectations as investors may lose confidence to the ability of management to fulfill it. I personally would like to see the prices go down to P5.50 - P5.70 range and accumulate from there as I can still see the company meet its target. The stock may not be very attractive to traders as I believe it will just continue to move sideways, at least for the next two months.

EDC stock price - 2 years

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 15, 2012

ALI highest bidder for FTI Property

Property Developer Ayala Land, Inc. disclosed that their bid of P24.33 billion for FTI Property was declared the highest bidder among other participants. This represents approximately P32,282 per sqm of the said property. 

EDC Income Rise 350%

Geothermal Company Energy Development Corporation posted a net income of P5.7 b

illion for the first half of 2012 reversing the P2.3 billion net loss registered same period last year. Revenues from First Gen Hydro Power Plant and Green Core Geothermal Inc. were the company’s main income drivers.

Vista Land Posts 25% Net Income

Property Developer Vista Land & Landscapes, Inc. reported a 25% increase in first half net income to P2.19 billion from P1.74 billion same period last year. Sales continue to remain strong, posting 47% growth.

URC to Purchase International Unit

Snacks food and beverage company Universal Robina Corporation disclosed it will purchase 23% of URC International Co., Ltd valued at P7.2 billion. URCI manufactures, markets and distributes consumer food products in China, Indonesia, Thailand, Vietnam, Hong Kong and Singapore.

First Gen Posts $92.8 million Net Income

First Gen Corporation reported net income attributable to parent of $P92.8 million from $16 million loss same period last year. Affiliate Energy Development Corporation mainly contributed to the increase in earnings.

PSE Net Income Grows 86% in First Half

The Philippine Stocks Exchange, Inc. announced its net income increased by 86% to P324.41 million from P174.80 million same period last year, mainly due to higher listing and trading-related revenues. Three companies conducted initial public offerings during the period; GT Capital Holdings, Inc., Eastwest Banking Corpor

ation, and Calata Corporation, raising a total of P17.89 bilion. Full report can be viewed here.

ICT Award 75,000 Shares under Stock Incentive Plan

International Container Terminal Services, Inc. awarded 75,000 shares to selected members of management at an average price of P70.80 under its stock incentive plan. These shares were deducted from treasury shares.

CPG Reports 91% Increase in Net Income

Property Developer Century Properties Group posted a net income of P944 million, up from P496 million or 91% same period last year. The company has continued to be aggressive in its marketing strategies for its newly launched development projects.

GT Capital Core Net Income Posts 51% Increase

Investment Holding Conglomerate GT Capital Holdings, Inc. (PSE:GTCAP) disclosed P2.6 billion core net income up 51% from P1.7 billion same period last year. The increase was attributed to higher net income contribution from associate Global Business Power Corporation.