PSE Round-Up: January 9, 2013

PSE Market Summary:

The Philippine Stocks Market was up by 42.28 or .70% to close at 42.28. Total trade recorded reached 34,046 with 109 stocks advances, 73 declines and 32 stocks unchanged.

PXP Keen on Recto Bank

Philex Petroleum Mining Corp. (PSE:PXP) is setting its sights anew on the development of Recto Bank, a resource-rich area disputed with China. The disclosure came following statements from the Chinese Embassy that both parties should be open to joint explaration. Recto bank is located in northwest of Palawan.

MER Sets Capex at P13B

Manila Electric Co (PSE:MER) is setting aside P13 billion for capital expenditures this year for the upgrade of its current facilities to provide more robust, efficient and adequate distribution system. 

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.