Author: Business News Asia

PHILIPPINES – News about San Miguel Corporation (SMC)’s announcement of a yearly consolidated revenues target to US$50 billion in the next five ears from an estimated US$20 billion at present sent the company’s stock higher in today’s trading at the Philippine Stock Exchange. San Miguel Corporation (PSE:SMC)’s stock gained 2.75 percent to end the day at Php48.50 a share, or Php1.30 higher from its previous close. SMC joined 16 other blue chip stocks at the PSE that gained in today’s trading, led by DMCI Holdings, Inc, which was up 4.40 percent to Php12.8. A total of 513,500 shares with a…

PHILIPPINES – SM Prime Holdings, Inc (PSE:SMPH)’s proposed bond issue of up to Php20 billion has been assigned a rating of PRS Aaa, the highest possible rating, by the Philippine Ratings Services Corporation (Philratings). Obligations rated PRS Aaa by Philratings are of the highest quality with minimal credit risk. PhilRatings is the only domestic credit rating agency that is accredited by the Securities and Exchange Commission and recognized by the Bangko Sentral ng Pilipinas. It is also a founding member of the Association of Credit Rating Agencies in Asia (ACRAA), which now counts 30 domestic credit rating agencies in the…

PHILIPPINES – News about San Miguel Corporation (SMC)’s announcement of a yearly consolidated revenues target to US$50 billion in the next five ears from an estimated US$20 billion at present sent the company’s stock higher in today’s trading at the Philippine Stock Exchange. San Miguel Corporation (PSE:SMC)’s stock gained 2.75 percent to end the day at Php48.50 a share, or Php1.30 higher from its previous close. SMC joined 16 other blue chip stocks at the PSE that gained in today’s trading, led by DMCI Holdings, Inc, which was up 4.40 percent to Php12.8. A total of 513,500 shares with a…

PHILIPPINES – Philippine Long Distance Telephone Company (PLDT) (PSE:TEL) (NYSE:PHI)’s stock was up slightly in today’s trading session at the Philippine Stock Exchange on news that the company has launched PLDT Capital, the newly-created investment arm of the PLDT Group. PLDT’s stock gained 0.92% in today’s trading with a last trade price of Php2,190 a share, or Php20 higher than its previous close. A total of 150,375 share valued at about Php327.38 million exchanged hands, although today’s closing price is still far off its 52-week high of Php3,292. In a disclosure to the PSE, PLDT announced today the formation of…

PHILIPPINES – Vista Land & Lifescapes, Inc. (PSE:VLL)’s stock closed lower in today’s trading session at the Philippine Stock Exchange even as the company announced a Php40-billion expansion of its flagship project in Iloilo City. Shares of Vista Land posted a last trade price of Php5.03, down 0.79% or Php0.04 from the previous close. A total of 13.38 million shares with a value of Php67.02 million exchanged hands today. Before the opening bell, the Manny Villar-led Vista Land & Lifescapes, Inc. has informed the PSE that it is expanding its residential project in Iloilo to transform it into a COMMUNICITY,…

PHILIPPINES – Manila Water Company Inc (PSE:MWC) announced today that it has signed a seven-year JPY40 billion (Php15 billion) loan facility with three international banks. Its stock traded lower in today’s session at the Philippine Stock Exchange (PSE). In a disclosure to the PSE, Jhoel P. Raquedan, Chief Legal Counsel of Manila Water, said the company has secured a loan from the Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd., and Sumitomo Mitsui Banking Corporation. The deal is the single largest capital raising activity of Manila Water following the approval of the Rate Rebasing Business Plan in April 2015, the…

PHILIPPINES – After declining 25 percent on Monday’s trading, Keppel Philippines Properties (PSE:KEP)’s stock rallied in today’s session at the Philippine Stock Exchange to gain 33.06 percent, the highest gain for all of the stocks traded at the Philippine bourse. Keppel Philippines Properties, which is engaged in the acquisition and development of suitable land sites for residential, office and commercial use, saw its stock trading at Php4.79 apiece, up Php1.19 from Monday’s closing. The stock opened higher at Php4.79 from the previous close of Php3.60 and stayed on the price until the closing bell. A total of 13,000 Keppel Philippines…

PHILIPPINES – Globe Telecom, Inc. (PSE:GLO)’s stock declined by 0.84 percent in today’s trading session at the Philippine Stock Exchange to settle at Php2,350.00 apiece. Globe Telecom’s stock shed Php20 from its previous close of Php2,370 and hit a lowest price of PHp2,322 in today’s trading. A total of 84,150 Globe Telecom, Inc’s shares exchanged hands in today’s session, with a value of Php197.47 million. Globe’s market capitalization stands at Php314.60 billion. Globe Telecom, Inc. (GLO) was originally incorporated on January 15, 1935 as Globe Wireless Limited with a franchise to operate wireless long distance message services in the Philippines.…

PHILIPPINES – First Gen Corporation (PSE:FGEN)’s stock rallied in today’s trading session at the Philippine Stock Exchange to gain 4.08 percent, topping 20 other blue chip stocks that posted gains today. First Gen Corporation (PSE:FGEN), which a clean and renewable Independent Power Producer, posted a last trade price of Php22.95 a share, gaining Php0.90 from its previous close. The stock rallied to a high of Php23.30 after opening at Php22.05 and then settled at Php22.95. A total of 2.05 million First Gen Corporation shares exchanged hands with a total value of Php46.67 million. First Gen Corporation earlier confirmed to the…

PHILIPPINES – Jollibee Foods Corporation (PSE:JFC)’s stock gained 1.70 percent in today’s trading session at the Philippine Stock Exchange, adding Php3.20 to its share price. Jollibee Foods Corporation’s stock posted a last trade price of Php191.20, from the previous close of Php188.00. It traded at a high of Php192.00 but still lower than its 52-week high of Php241.00 apiece. A total of 594,720 Jollibee Foods Corporation’s shares exchanged hands today with a total value of Php113.27 million. Jollibee Foods Corporation (JFC) was incorporated on January 11, 1978. JFC’s principal business is the development, operation, and franchising of quick-service restaurants under…

PHILIPPINES – After declining 25 percent on Monday’s trading, Keppel Philippines Properties (PSE:KEP)’s stock rallied in today’s session at the Philippine Stock Exchange to gain 33.06 percent, the highest gain for all of the stocks traded at the Philippine bourse. Keppel Philippines Properties, which is engaged in the acquisition and development of suitable land sites for residential, office and commercial use, saw its stock trading at Php4.79 apiece, up Php1.19 from Monday’s closing. The stock opened higher at Php4.79 from the previous close of Php3.60 and stayed on the price until the closing bell. A total of 13,000 Keppel Philippines…

PHILIPPINES – First Gen Corporation (PSE:FGEN)’s stock rallied in today’s trading session at the Philippine Stock Exchange to gain 4.08 percent, topping 20 other blue chip stocks that posted gains today. First Gen Corporation (PSE:FGEN), which a clean and renewable Independent Power Producer, posted a last trade price of Php22.95 a share, gaining Php0.90 from its previous close. The stock rallied to a high of Php23.30 after opening at Php22.05 and then settled at Php22.95. A total of 2.05 million First Gen Corporation shares exchanged hands with a total value of Php46.67 million. First Gen Corporation earlier confirmed to the…

PHILIPPINES – A total of 109 stocks declined in today’s trading at the Philippine Stock Exchange (PSE), overtaking 72 advances and 32 unchanged stocks, the PSE reported today. The number of traded issues reached 213 with the number of trades reaching 62,318. A total of 1.557 billion shares exchanged hands with a value of Php6.988 billion. Industrial stocks led gainers in today’s trading session, posting 1.02% up with a total value of P1.529 billion. Property, Financials, and Holding Firms also gained while Services and Mining & Oil declined. The Philippine Stock Exchange Index closed at 6,859.29 points, higher than its…

PHILIPPINES – Security Bank Corporation (PSE:SECB) has declared cash dividend on Tuesday, subject to the approval of the Bangko Sentral ng Pilipinas. In a disclosure, Security Bank Corporation (PSE:SECB) announced that its board of directors approved the declaration of a regular semestral cash dividend of Php0.50 per share and a special cash dividend of Php0.50 per share on outstanding capital stock of the Corporation. The Board of Directors of Security Bank Corporation held its board meeting today. “The record date and date of payment shall be fixed upon receipt by the Bank of the approval of such cash dividend declaration…

PHILIPPINES – Security Bank Corporation (PSE:SECB) has declared cash dividend on Tuesday, subject to the approval of the Bangko Sentral ng Pilipinas. In a disclosure, Security Bank Corporation (PSE:SECB) announced that its board of directors approved the declaration of a regular semestral cash dividend of Php0.50 per share and a special cash dividend of Php0.50 per share on outstanding capital stock of the Corporation. The Board of Directors of Security Bank Corporation held its board meeting today. “The record date and date of payment shall be fixed upon receipt by the Bank of the approval of such cash dividend declaration…

PHILIPPINES – Aboitiz Power Corporation (PSE:AP)’s stock inched higher in the opening hour at the Philippine Stock Exchange (PSE) on news that it has signed an agreement for a hydropower feasibility studies in Indonesia. Aboitiz Power Corporation (PSE:AP)’s stock was up 0.59% when the market opened this morning to Php42.45, with 2,000 shares already exchanging hands before 10 a.m. Investors are bullish on Aboitiz Power Corporation after it informed the PSE Tuesday morning that that it entered into an agreement with SN Power AS and PT Energi Infranusantara to participate in the feasibility studies for the exploration and development of…

PHILIPPINES – Rizal Commercial Banking Corporation (PSE:RCB) has announced the appointment of John Thomas G. Deveras as Head of Asset Management and Remedial Group, effective October 25, 2015. In a disclosure to the Philippine Stock Exchange (PSE), RCBC said the appointment of Deveras is concurrent with his role as head of Strategic Initiatives. “Deveras is a seasoned banker with more than 30 years of banking experience particularly in investment banking and corporate finance,” the bank said in the disclosure. Deveras has been with RCBC since 2007 and was appointment Head of Strategic Initiatives in the same year. He graduated from…

PHILIPPINES – Top Frontier Investment Holdings, Inc. (PSE:TFHI)’s stock dropped 17.60 percent in today’s trading session to trade at Php70.00 a share, from last week’s close of Php84.95. TFHI, a holding company which is 66.2 percent owned by San Miguel Corporation (PSE:SMC), opened at Php79.00 and then plunged to Php69.00 a share in today’s session. It settled with a last trade price of Php70.00. A total of 169,290 shares with a value of Php11.95 million exchanged hands in today’s trading session. TFHI has a 52-week high of Php128.10 and a low of Php63.00. The company last issued its Quarterly Report…

JMP Group LLC (NYSE:JMP)’s stock is one that investors will be closely looking at in today’s trading session after its shares have been upgraded by Zachs to “Buy” from “Hold”, with with price target of $7.25 early today. JMP Group LLC (NYSE:JPM) is an investment banking, asset management and corporate credit management firm. It provides sales, trading, and equity research services and alternative asset management products and services. JMP Group (NYSE:JMP) opened at $6.22 on Tuesday after a $6.26 closing last week, or 2.12% higher. JMP Group has a 1-year low of $6.00 and a 1-year high of $8.85. A…

PHILIPPINES – Investors dumped San Miguel Corporation (PSE:SMC)’s stock in today’s trading, making it the top loser among blue chip stocks traded at the Philippine Stock Exchange (PSE). San Miguel Corporation (PSE:SMC)’s stock was down 8.67% today to Php46.35 a share, or Php4.40 lower than its closing price of Php50.75 last week, which was the highest since August 28. The stock opened at Php48.40 but failed to rally higher. Instead it reached a low of Php46.00 today and then settled at Php46.35. A total of 355,330 shares with a total value of Php16.49 million exchanged hands in Today’s trading. San…