PSE Round-Up: December 14, 2012

PSE Market Summary:

The Philippine Stocks Market was down for three days, sliding by 80.84 to close at 5,707.11. THE PSE index is down 87.09 or 1.50% from the previous week. Total trades reached 23,586 with 71 stocks advances, 106 declines and 34 stocks unchanged.

TOL, SMIC to Bid in Expressway Project

Metro Pacific Tollways Corporation (PSE:TOL) and SM Investments Corp (PSE:SM) will jointly bid for the P15 billion NAIA expressway project. The companies disclosed that they already passed the pre-qualification for bidding.

AC Declares Cash Dividend

Ayala Corporation (PSE:AC) declared cash dividend as follows:

common shares:

cash                           =            P2 per share

ex-date                      =            Jan. 3, 2013

record date               =            Jan. 8, 2013

payment date            =           Feb. 1, 2013

preferred "A" shares (first quarter 2013):

cash                           =            8.88% dividend rate per annum
ex-date                      =            Jan. 3, 2013
record date               =            Jan. 8, 2013
payment date            =           Feb. 1, 2013

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 22, 2012

PSE Market Summary:

The Philippine Stocks Market is down for three straight days closing at 5,424.79. All sectors were down except property which managed to go up by 5.14 points. Total trades reached 24,042 while decliners led advancers, 100 to 56, with 47 stocks remaining unchanged.

SM Completes 9.1M Shares Placement

SM Investments Corporation (PSE:SM) announced the completion of 9.1 million primary common shares to institutional investors by way of top up placement at P700 per share. The price was discounted by 6.04% based on the closing rate as of Aug 23 at P745 per share. The proceeds were used for payment of existing bank loan including its interest.

AC Plans to Issue Fixed Rate Bonds

Ayala Corporation (PSE:AC) proposed the issuance of P1 billion fixed rate bonds due in seven years. AC currently holds a PRS Aaa rating from credit rating agency PhilRatings, which means that their obligations have the highest quality with minimum risk for nonpayment.

TOL Explores Road Projects in Vietnam

Metro Pacific Tollays Corp. (PSE:TOL) has confirmed reports that they are currently seeking infrastructure projects in Vietnam. Discussions are already on progress but there is no final deals made as of this moment.

PSE Round-Up: September 26, 2012

PSE Market Summary:

The Philippine Stocks Market was down by .61% to close at 5,292.63. Intraday trades were flat throughout the day, with only financials and industrial moving up for subindices.

TOL to Raise $ 400M for Road Projects

The Manila North Tollways Corp. (PSE:TOL) plan to raise $400 Million (P16 Billion) to fund several road extension projects over the next four years. The projects include new road from Valenzuela to C3 and a C5 loop which extends from Mindanao Ave. to Katipunan. TOL is one of the subsidiaries of Manny Pangilinan's Metro Pacific Investments, Corp (PSE:MPI).

JGS Widens its Shareholder Base

Express Holdings, Inc. sold 100 million shares of JG Summit Holdings, Inc. (PSE:JGS) today at P 32 per share to widen the shareholder base of the company. JGS shares closed at P31.75.

PNB 1H Income Up by 144%

Philippine National Bank reported net profit of P 1.77 Billion or 14% higher on year-on-year comparison. The increase was mainly due to strong transactional foreign exchange and focus on lowering cost funds.