PSE Round-Up: November 9, 2012

PSE Market Summary:

The Philippine Stocks Market was up for the second straight trade. PSEi increased by 44.38 points or .82% for the week. Total trades reached 26,090 with 79 stocks advances, 79 declines  and 56 stocks unchanged. 

GLO Core Net Income Up 7%

Globe Telecom, Inc. (PSE:GLO) reported core net income of P8.8 billion in the first nine months of 2012, up 7% from P8.2 billion the previous year. The improvement was mainly due to gains in mobile and fixed line broadband segments. GLO shares declined by P2 to P1,143.

MFC Report $227M Loss, Issues Dividend

Manulife Financial (PSE:MFC) absorbed a $1 billion charge related to actual review of actuarial assumptions. This resulted to a net loss of $227 million for the third quarter. MFC shares closed higher by 2% at P460. Dividend declaration was also made with below details:

cash                                 =                           C$.13 per common share

ex-date                            =                           Nov. 15, 2012

record date                     =                           Nov. 20, 2012

payment date                 =                           On or after Dec 19, 2012

SLF Net Income Reach $383 million 

Sun Life Financial (PSE:SLF) reported its net income to reach $383 million for 3Q2012 from a reported loss of $621 million. The positive growth was mainly due to increased premium and deposits. SLF shares closed at P955. 

cash                                 =                           C$.36 per common share
ex-date                            =                           Nov. 23, 2012
record date                     =                           Nov. 28, 2012
payment date                 =                           Dec 31, 2012


MWC Core Net Income Increase by 26%

Manila Water Corporation announced its core net income is up by 26%. MWC shares closed at P29.55, unchanged from previous trade.

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: October 2, 2012

PSE Market Summary:

The Philippine Stocks Market advanced by .76% or 40.16 to close at 5,3448.68. All sectors were up, led by holding firms and property. 

MWC Signs Loan Agreement With Landbank

Manila Water Company, Inc. (PSE:MWC) agreed to sign a 25-year term loan with the Land Bank of the Philippines. The loan amounting to $ 137.5 million shall be used to partially finance the north and south Pasig sewerage system project of MWC.

ALI Acquires Interests with Raffles Project

Ayala Land Hotels & Resorts Corporation (AHRC), a wholly owned subsidiary of Ayala Land, Inc. (PSE:ALI) acquired the interests of Kingdom Hotel investments (KHI) in the Fairmont Hotel and Raffles residences project in Makati. KHI agreed to sell interest and outstanding shares it holds in exchange for $ 24.11 million paid by AHRC. 

TDY Acquires Fortune Tobacco Corporation

Tanduay Holdings, Inc. (PSE:TDY) acquired 82.32% interest of Fortune Tobacco Corporation via subscription of shares. TDY subscribed to 1.3 billion common shares fully paid in cash.

DENR Releases Adverse Findings to PX

The Environmental Management Bureau of the DENR has released an adverse opinion relating to the tailing ponds leak. Based on the findings, PX violated the environmental clearance certificate policy whih states that: "pond effluent discharges shall conform with the standards set under the Clean Water Act of the Philippines.

PSE Round-Up: September 25, 2012

PSE Market Summary:

The Philippine Stocks Market was slightly down by .01 to close at 5,325.17. Intraday trading were down by noon but recovered before market closed.

GLO Signs P 2B Loan Facility

Globe Telecom (PSE:GLO) signed a P 2 billion term loan facility with Philippine American  Life and General lnsurance Company, The Insular Life Assurance Company, Ltd. and Sunlife of Canada (Philippines), Inc. Loan proceeds will be used to refinance company debts and fund capital expenditure requirements. The move takes advantage of prevailing low interest rates.

WEB Declares Cash Dividend

Philweb Corporation (PSE:WEB) announced the declaration of dividends as follows:

Cash                        P .10 per share

ex-date                    Oct. 3, 2012

record date             Oct 8, 2012

payment date          Oct. 15, 2012

PHES in Final Stage for Potential ALI Tie-Up

Philippine Estates Corp. (PSE:PHES) confirms that it is in the final stage of negotiations in  possible tie-up with Ayala Land, Inc. (PSE:ALI) to develop Metrotech Industrial Park located in Valenzuela. ALI has been active in growing its land bank for further developments.

MWC Declares Cash Dividend

Manila Water Company, Inc. (PSE:MWC) announced the declaration of dividends as follows:

Cash                        P .298 per outstanding common share
ex-date                    Oct. 4, 2012
record date             Oct 9, 2012
payment date          Nov. 16, 2012


BDO to Raise Funds with LTNCDs

BDO Unibank, Inc. (PSE:BDO) plan to issue up to P 5 billion worth of long term negotiable certificates of deposit to support its medium term objectives. The LTNCDs will carry a maturity of seven years. 


SMC and TDY in Talks for Possible Joint Venture

San Miguel Corp (PSE:SMC) and Lucio Tan's LT Group (PSE:TDY) is in talks for a possible oint venture in building an airport akin to Ninoy Aquino International Airport. This shall address the requirements of Philippine Airlines, Inc. and Air Philippines Corp. 

PSE Round-Up: September 21, 2012

PSE Market Summary:

The Philippine Stocks Market end the week on a 4-day slide closing at 5,292.06. PSEi started the week at 5,322.47.

MWC to Adjust Water Rates

The Manila Water Company (PSE:MWC) advises its customers that there will be a .08 per cubic meter upward adjustment due to foreign currency differential adustment (FCDA). The FCDA is a tariff mechanism to account for foreign exchange gains and losses arising from concession loans. The change has no impact on projected net income of MWC.

SCC Receives CoR from Bobog Project

Semirara Mining Corporation (PSE:SCC) received the certificate of registration for its Bobog Mine project. Said project shall function as new producer of coal on a non-pioneer status.

PLDT Issues Fixed Rate Notes

The Philippine Long Distance Telephone Co. (PSE:TEL) issued its P 8.8 billion fixed rate corporate notes to a group of institutional lenders. The securities are composed of 7-year and 10-year notes with yield of 5.6038 percent and 5.6423 percent respectively.