Author: Business News Asia

PHILIPPINES – Keppel Philippines Properties, Inc. (PSE:KEP)’s stock closed 25 percent lower in today’s trading session at the Philippine Stock Exchange (PSE) with a last traded price of Php3.60 a share. It opened lower at Php3.26 and traded up to P3.60 apiece until the end of today’s trading session. A total of 3,000 shares exchanged hands with a value of Php10,120. Keppel Philippines Properties, Inc. (KEP) was originally incorporated on February 7, 1918 under the name Hoa Hin Co., Inc., then renamed Cebu Shipyard and Engineering Works, Inc. in 1957, and then to its present name in 1998. The Company…

PHILIPPINES – Petron Corporation (PSE:PCOR)’s stock gained 2.17% in today’s trading session at the Philippine Stock Exchange (PSE) to become the biggest gainer among the PSE’s blue chips with a closing price of P7.05 a share. Petron, which forecasts 20 percent profit margin after refinery upgrade, opened at Php6.90, or P0.04 higher from its 52-week low of Php6.86. It traded higher at Php7.05 and stayed on the price until today’s close. A total of 1.577 million shares of Petron Corporation (PSE:PCOR) exchanged hands in today’s trading, with a total value of Php12.262 million. Its market capitalization stands at Php64.688 billion.…

PHILIPPINES – Da Vinci Capital Holdings, Inc. (PSE:DAVIN)’s stock rallied on Monday’s trading to lead advancers with a last trade price of Php2.13 a share, 29.09 percent higher from its previous close. Da Vinci’s stock opened at Php1.73 a share in today’s trading session and hit a high of Php2.34 and a low of Php1.62 before ending the day at Php2.13. A total of 28.592 million shares exchanged hands in today’s session, with a total value of Php60.5 million. Da Vinci Capital Holdings, Inc. (PSE:DAVI)’s 52-week high was Php2.64 while its year’s lowest was Php1.15 a share. The company’s market…

Bank of America Corporation (NYSE:BAC)’s stock closed higher last week at $15.89 a share, up 2.19% from the previous close of $15.55. The question today, however, is whether the stock will continue to rally in today’s trading session. Bank of America Corporation (NYSE:BAC)’s stock opened at $15.88 a piece on Friday but dropped to $15.81 during the session. It hit a high of $16.02 before closing at $15.89. A total of 88.57 million shares exchanged hands on Friday, raising its total market capitalization to $166.35 billion. The stock recorded its year’s highest of $18.48 on August 24, 2015 and its…

TOKYO, JAPAN – Nippon Light Metal Holdings Co Ltd (TOKYO:5703)’s stocks rose 3.33 percent in today’s trading session to end the day at 186.0. Nippon Light was one of the best performers of the session on the Nikkei 225. Nippon Light’s stock opened at 185.0 and reached a high of 189.0 during Monday trading, with a low of 183.0. Monday’s close was 6.0 higher than last week’s 180.0. A total of 5,144,300 shares exchanged hands today, with a total value of 956.15 million. Nippon Light Metal Holdings Co Ltd (TOKYO:5703) posted its year’s high of 237.0 on June 04, 2015…

PHILIPPINES – BDO Unionbank (PSE:BDO) has announced the appointment of lawyer Alvin C. Go as Assistant Corporate Secretary of BDO and Alternate Corporate Information Officer effective 01 October, 2015. In a disclosure to the Philippine Stock Exchange (PSE), the bank said Go’s appointment was approved by the Board of Directors of BDO Unibank, Inc at its regular board meeting held last Saturday. Go is Senior Vice President for the Legal Services Group of BDO. Prior to joining BDO, he was the Chief Legal Counsel of Philippine National Bank from 2003 to 2012. He was an Associate Attorney for Salonga, Ordonez,…

PHILIPPINES – DMCI Holdings Inc (PSE:DMC) announced on Monday that the Securities and Exchange Commission (SEC) has approved the issuance of Php1 billion worth of deferred coupon-paying retail bonds its wholly-owned real estate subsidiary DMCI Project Developers, Inc. (DMCI Homes). In disclosure to the Philippine Stock Exchange (PSE), DMCI Holdings Inc (PSE:DMC) said the bonds has an initial offer of Php500 million and will be called “DMCI Deferred Coupon-Paying HomeSaver Bonds”. “The financial instrument aims to encourage the middle income segment to save enough funds to purchase their own real estate property in the future,” DMCI told the PSE on…

PHILIPPINES – Max’s Group, Inc (PSE:MAXS), which owns Max’s Restaurant and Pancake House, announced that it has received approval from the Securities and Exchange Commission (SEC) for the merger of its 11 wholly-owned subsidiaries. In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Max’s Group (PSE:MAXS) said it will merge Max’s Circle, Inc; Max’s Makati Inc; Max’s SM Marikina; Max’s Baclaran; Max’s Food Services; Max’s (Ermita); Max’s Franchising; Chicken’s R Us; Square Top; Max’s Express Restaurants; with Max’s Kitchen as the surviving entity. “The merger is part of the continuing efforts of the company to streamline and rationalize…

Expert Global Solutions (EGS), the world’s largest privately owned business process outsourcing (BPO), is opening a new contact center in Davao City, its first center outside Metro Manila. EGS will occupy the entire four-storey first building of the Matina IT Park. The park, which is the biggest IT center in Mindanao, is accredited by the Philippine Economic Zone Authority. EGS president and country head Rainerio Borja told stakeholders that its operation in Davao City is targeted to start by November this year. The plan is to employ some 1,500 to 1,700 employees in Davao in its initial stage of operations.…

Aegon NV (NYSE:AEG), which provides life insurance, pensions and asset management products and services in the US, Europe and Asia, is upgraded by Goldman Sachs to “Buy” from “Neutral”, according to the research report released to the investors. The company has a market cap of $12,174 million and the number of outstanding shares have been calculated to be 2,147,037,000 shares. The 52-week high of Aegon NV (NYSE:AEG) is $8.4033 and the 52-week low is $5.76. Whether the upgrade will trigger investors’ interest in Ageon NV in today’s trading session will be known when the market opens but Aegon NV (NYSE:AEG)’s…

American Express Company (NYSE:AXP), a payments, network and travel company that offers credit payment card products, is reiterated by Jefferies Group to Hold Thursday morning, with the price target lowered to $70 from a previous price target of $85. The ratings were broken down to 5 ‘Sell’, 11 ‘Hold’, and 10 ‘Buy’. Jefferies Group released its shares recommendation of American Express on September 24, 2015. American Express Company (NYSE:AXP)’s stock closed lower on Wednesday to $75.63, a 0.11% decrease from the previous day’s close. A total of 3.18 million shares exchanged hands, with the highest asking price reaching $75.96. The…

Aegon NV (NYSE:AEG), which provides life insurance, pensions and asset management products and services in the US, Europe and Asia, is upgraded by Goldman Sachs to “Buy” from “Neutral”, according to the research report released to the investors. The company has a market cap of $12,174 million and the number of outstanding shares have been calculated to be 2,147,037,000 shares. The 52-week high of Aegon NV (NYSE:AEG) is $8.4033 and the 52-week low is $5.76. Whether the upgrade will trigger investors’ interest in Ageon NV in today’s trading session will be known when the market opens but Aegon NV (NYSE:AEG)’s…

CEBU CITY – Call center agents are seeking the assistance of the Cebu Provincial Government to help solve their concerns on employment documentation. Cubicall representative Mel Infante met with Cebu Governor Hilario Davide III to voice out the call center agents’ concerns about difficulties in securing employment documents. Some national government agencies were represented in that meeting at the governor’s office, including Social Security System, Bureau of Internal Revenue, PAG-IBIG, National Bureau of Investigation, and National Statistics Office,. The functions of these offices are basic to documentation for employment. Davide said he is more than willing to help the BPO…

Aboitiz Power Corporation (PSE:AP)’s stocks inched up on Monday’s trading session on news that it has acquired a participating interest in a 110-megawatt geothermal prospects in Indonesia. The company, which is the holding firm for the Aboitiz Group’s investment in power, generation, distribution, retail and power services, traded at P43.05 a share on Monday, up from last week’s P42.70. A total of 3.10 million shares, with a value of P133.16 million, exchanged hands. Aboitiz Power Corporation (PSE:AP)’s stock rallied on Monday after the listed power firm to the Philippine Stock Exchange that its Singapore-based wholly owned subsidiary Aboitiz Power International…

The Federal Bureau of Investigation (FBI) of the United States has launched its own investigation into allegations of money-laundering at troubled 1Malaysia Development Berhard (1MDB), Malaysia’s state fund. The FBI joins a list of international authorities that are looking into the money-laundering accusations at 1MDB although the scope of its investigation was not clear. The report by the Wall Street Journal, however, came after an arrested former official of Umno said he was scheduled to meet FBI agents in the US. Both the FBI and 1MDB did not comment on the news. If the report is true, the FBI is…

HC International (HKEX:2280)’s stock gained 29.80 percent on Friday’s closing to HK$5.01 per share, from HK$3.86 last Thursday. A total of 22.3 million shares exchanged hands. HC International (HKEX:2280), operates online-market place and provides industrial search result prioritizing services through its business-to-business website hc360.com. It also publishes trade catalogues and yellow page directories. What could have made investors bullish on HC International (HKEX:2280)’s stocks on Friday? No current market moving news for HC International. In fact, investors should have been bearish because the company reported revenue fall in the first half of the year. According to its interim report released…

Ayala Corporation (PSE:AC), the holding company of the Ayala Group of Companies, was up 1.60 percent as of 10 a.m. today to trade at Php761.00 a share, about Php12 a share higher than the previous close of Php749. A total of 101, 470 shares exchanged hands in the early minutes of trading Wendesday, with total value of Php76.984 million. Ayala Corporation’s shares rallied on Wednesday on news that it teamed up with Metro Pacific Investments Corp (MPIC) to take over the operations and maintenance of the Light Rail Transit Line. Ayala Corp. Chairman and chief executive Jaime Augusto Zobel de Ayala expressed…

Shares of Pacifica, Inc (PSE:PA) traded 13.51 percent higher to Php0.042 at 10 am Tuesday at the Philippine Stock Exchange. The share price of PA was higher than the closing price of Php0.037 on Monday despite the absence of market moving news. A total of 1.379 million shares exchange hands less than two hours of the opening bell with the highest traded price at Php0.044. Shares of Pacifica, Inc, however traded below its 52 week high of Php0.067 but was nearly double the 52 week low of Php0.028. PA was incorporated on September 2, 1957 to engage in exploration, drilling,…

Yahoo’s chief marketing officer since 2012, Kathy Savitt, is leaving the technology company to join a new Burbank film and TV firm, STX Entertainment. Savitt will become STX Entertainment’s digital content business head starting next month, the studio said in a statement. Savitt’s move comes as another setback for the Sunnyvale, California technology giant, which has been hit by a difficult week. Early this week, Yahoo announced that the Internal Revenue Service has declined to approve its proposed tax-free spin-off of its USD230bn stake in Alibaba Group. The company also lost its top European executive Dawn Airey. Yahoo’s loss is…

Global consulting firm Frost & Sullivan has awarded business process outsourcing (BPO) firm Teleperformance with the 2015 Technology Innovation Leadership award, recognizing its industry-leading security practice in the global contact center industry. The Technology Innovation Leadership Award is given by Frost & Sullivan annually to a company that has developed a product or solution with innovative features and functionality. Frost & Sullivan recognized Teleperformance this year after the BPO firm announced in May a new technology solution – Enhanced Security Practice (ESP), which accelerates the entry speed of confidential consumer data while securing the information capture process. The United States…