PSE Round-Up: October 29, 2012

PSE Market Summary:

The Philippine Stocks Market was down 7.74 to close at 5,397.42. Total trades reached 27,707 with 81 stocks advances, 86 declines and 43 unchanged. 

SMPH YTD Profits Up 15%

SM Prime Holdings, Inc. (PSE:SMPH) reported a 15% increase on its year-to-date consolidated net income amounting to P7.4 billion from the same period last year. The higher income was largely due to rentals from newly opened malls and improved performance of SM's China malls. SMPH is the Philippines' leading shopping mall developer and operator largerly owned and controlled by Henry Sy and his family. SMPH stocks closed at 14.3, up by .06 points from previous trade.

MER Core Net Income Up 11%

Manila Electric Co. (PSE:MER) announce that its core net income for nine months amounted P12.9 billion, up 11% from same period last year. The positive earnings was mainly due to the 8% increase in volume of energy sold. Consolidated reported net income was up 37% to P13.6 billion, which includes one time, exceptional charges. MER stocks closed at 276.8, down by 1.2 points from last trade.

  

APO, OV to sell VUL Shares to NBS

Anglo Philippine Holdings Corporation (PSE:APO) and The Philodrill Corporation (PSE:OV) have agreed to sell their Vulcan Industrial and Mining Corporation (PSE:VUL) shares to National Books Store, Inc at an agreed price of P1 per share. APO and OV hold 12.25 million and 610,000 shares, respectively. VUL shares are still on voluntary suspension due to "proposals that may materially affect the future business direction of the company."


TOL Tender Offer Priced at P6.50

Metro Pacific Tollways Corporation (PSE:TOL) announced its tender offer or delisting at P6.50 per share. The tender period starts today until noon of Nov. 28, 2012 and shall be paid in full by Dec. 11, 2012. TOL stocks closed at P6.21, down by .19 from last trade.  

MER Seeks Refund to PSALM for Double Charges

Manila Electric Co. (PSE:MER) is seeking a refund from the double charges made by Power Sector Assets and Liabilities Management Corp. MER filed a refund amounting to P9.839 billion to cover transition supply contract line losses.

PSE Round-Up: October 24, 2012

PSE Market Summary:

The Philippine Stocks Market is down by 33.63 or .62% to close at 5,398.69. A total 28,412 trades were recorded with 43 advances, 120 declines and 42 stocks remaining unchanged.

MPI to Expand Health Care Portfolio

Metro Pacific Investments Corp (PSE:MPI) target to expand its presence in the healthcare industry by acquiring additional hospitals throughout the country. MPI have confirmed there are ongoing discussions with several parties, but no definite agreements have been reached.

OV Declares Cash Dividend

Philodrill Corporation (PSE:OV) declared cash dividend with details below:

cash                       =                  P.00030 per share

ex-date                  =                  Nov. 7, 2012

record date           =                  Nov. 12, 2012

payment date        =                  Dec. 7, 2012

MJC to Maintain Controlling Interest with MJIC

The board of Directors of Manila Jockey Club, Inc. (PSE:MJC) has agreed to maintain controlling interest with its subsidiary, MJC Investments Corp (PSE:MJIC). MJIC shall continue to pursue new investments as long as MJC retains at least 51% ownership with the company.

AC Named Sole Distributor for Volkswagen

Europe's largest carmaker Volkswagen AG has chosen to partner with Ayala Corporation's (PSE:AC) wholly-owned subsidiary, Ayala Automotive Holdings Corporation to be its Philippine distributor for Volkswagen passenger vehicles. The move is part of the European company's plan move to establish its brand in ASEAN region.

PSB Declares Cash Dividend

Philippine Savings Bank's (PSE:PSB) board of directors approved the declaration of P.75 per share cash dividend. The record date and payable date shall be decided by Bangko Sentral ng Pilipinas.

PXP Incurs Net Loss as of 3Q12

Philex Petroleum Corporation (PSE:PXP) recorded a net loss of P131.85 million as of September 30, 2012, compared to a net income of P472.11 million same period last year. The decrease was due to the refurbishment of its Service Contract no. 14 (Galoc) of which PXP holds 60.49% interest. The prior period's net income also included an extraordinary gain of P443.67 million.