Japan’s Sojitz Group eyes mining investment in Philippines
Posted on December 7, 2009
Filed Under Investments | 3 Comments
Sojitz Group of Japan is planning to invest directly invest in the mining sector through here through long term sourcing of copper concentrates here and eventually investing in an existing copper mine.
Trade and Industry Undersecretary and Board of Investments managing head Elmer C. Hernandez , who met with top executives of the Japanese firm during a Japan mission, told reporters this would be the first time that Sojitz would be investing directly in the country. Read more
Local stocks close higher
Posted on November 19, 2009
Filed Under Daily Stocks Summary | 2 Comments
The Philippine market closed to its highest level on Thursday after Philex Mining Corp. and Manila Electric Co. (Meralco) returned to the limelight.
The bellwether Philippine Stock Exchange index rose by one percent or 30.69 points to close at 3,083.30 on Thursday, while the all share index rallied by 0.67 percent or 12.91 points to 1, 919.19. Read more
SM eyes overseas public offering for China malls
Posted on November 19, 2009
Filed Under Public Offerings | Leave a Comment
SM Prime Holdings, the mall development arm of the SM Investments Corporation, is planning to list in an overseas exchange the shares of its wholly-owned unit that owns its China mall operations within five years.
This is according to SMIC and SMPHI chief finance officer Jose Sio yesterday who talked to reporters after he was named CFO of the Year by the Financial Executives Institute of the Philippines. Read more
HDMF eyes P12-B private bond placement
Posted on November 19, 2009
Filed Under Philippine Bonds | Leave a Comment
State-owned Home Development Mutual Fund (HDMF) prefers to privately place around P12 billion in bonds currently instead of undertaking a public offering of the debt paper, National Treasurer Robert Tan said.
HDMF, popularly known as the Pag-IBIG Fund, may forego a public sale of the bond “to simplify the process”, said Tan. A private placement usually involves no more than 20 financial institutions. Read more
Lepanto in talks with to Hong Kong-based firm
Posted on November 19, 2009
Filed Under Corporate Acquisitions | Leave a Comment
Publicly-listed company, Lepanto Consolidated Mining Co. said it was in talks to sell a stake to Hong Kong’s First Pacific Co. The Hong Kong-based firm had reportedly completed due diligence.
The report said however that talks had bogged down because Lepanto was only offering a 20 percent stake. First Pacific reportedly wants to acquire all the assets of Lepanto, including its subsidiary Manila Mining Corp. Read more
CPV, Cebu Holdings declare payment of cash dividends
Posted on November 16, 2009
Filed Under Cash Dividends | Leave a Comment
Cebu Property Ventures and Cebu Holdings Corporation today declared cash dividends of P0.10 and P0.07 per share, respectively, following the regular meeting of its Board of Directors.
Assistant Corporate Secretary Renan Osero, in a letter addressed to the Securities and Exchange Commission and the Philippine Stock Exchange, revealed that the Board of Directors of the said companies have approved the declaration and payment of cash dividends to all outstanding shares of the Company as of record date December 1, 2009 payable on December 22, 2009. Read more
Stock Market shares close lower today
Posted on November 16, 2009
Filed Under Philippine Stock Market | 3 Comments
Local shares closed lower today at -.4717 with a value of 1,886.48. The PSE dropped to -.7567 at end of trading that saw 57 gainers as against the 54 losers and 55 unchanged.
Trades registered 10,474 with a total value of P4.137 billion. HOlding firms remain active as it tallied growth of .6487% while property recorded .3578. Read more
Ginebra San Miguel declares cash dividends
Posted on November 4, 2009
Filed Under Cash Dividends | Leave a Comment
Ginebra San Miguel, Inc. has declared a cash dividend of P0.375 per share payable on December 7, 2009 to all stockholders of record as of November 20, 2009.
Ferdinand K. Constantino, Corporate Information Officer, in a letter address to Philippine Stock Exchange Inc. on November 4, 2009, disclosed that the Board at today’s meeting declared the cash dividend for stockholders. Read more
Meralco to refund P278 M to consumers
Posted on October 15, 2009
Filed Under Uncategorized | Leave a Comment
The Energy Regulatory Commission (ERC) has ordered Manila Electric Company (Meralco) to implement a refund of its net over-recoveries at the rate of P0.0107 per kilowatt hour or a total of P278 million.
“While the reduction to the electricity bill may be minimal, the ERC’s actions actually averted a rate increase that would have been inevitable had Meralco been just allowed to recover what is due it, without the ERC putting it to task to immediately return to the consumers what is due them,” ERC Executive Director and Spokesman Francis Saturnino C. Juan pointed out. Read more
Jollibee Foods adds common shares
Posted on July 28, 2009
Filed Under Stock Exchange News | Leave a Comment
Jollibee Foods Corporation (JFC) has announced the listing of additional 510,961 common shares starting July 29, 2009. Read more
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