Stock market falls; Bloomberry climbs
Manila Standard Today - 2014-10-24
Bloomberry Resorts Corp. emerged as the most active stock, with a value turnover of P545 million. It climbed 2.2 percent to P15.02. Island Information Technology Inc. was the biggest gainer, as it surged 38.3 percent to P0.56. Abra Mining and Industrial ...

Cosco plans to build Laguna mall
Manila Standard Today - 2014-10-24
Cosco Capital Inc., the holding company of tycoon Lucio Co, said Friday it will build a community mall in Laguna province. Cosco said in a disclosure to the stock exchange it acquired a 3,192-square-meter lot at A. Mabini St., Poblacion, BiƱan ...

Strong buying power lures Japanese companies to Philippines, Asean
BusinessMirror - 2014-10-24
SEEING a rise in consumption trend in the Philippines by 2016, Japanese service companies can make a headstart by expanding their reach and creating partnerships in the country, as well as in other Asean members, a Japanese trade and industry official said ...

MMDA assures bus operators: no eviction from South terminal
Manila Bulletin - 2014-10-24
He said there is an ongoing legal battle between Uniwide Holdings Inc. (UHI) and Manila Bay Development Corporation (MBDC), owner of the property where the building is located. "But both camps fully support the establishment of the terminal in the ...

Tiu opens Rosario farm to Trillanes, media
Manila Standard Today - 2014-10-24
However, the Belle Corporation, developer of Tagaytay Highlands, issued an official statement saying that the Vice President does not have a log cabin in the Tagaytay Highlands. "Billing statements like the ones presented by Mr. Mercado do not prove ...

Philippine economic growth in 2014 likely below government goal -- Metrobank Research
interaksyon.com - 2014-10-23
MANILA - Philippine economic growth will likely slow down from a year ago and settle below the government's full-year target. In a research note, Metrobank Research gross domestic product (GDP) growth would average 6 percent for the entire 2014, sustaining ...

Does Antonio Tiu really own 'Hacienda Binay'?
Rappler - 2014-10-23
The 350-hectare "Hacienda Binay" is one of the latest exposes by former Makati ... a company director of 4 companies owned by Tiu - Earthright Holdings Inc, Greenergy Holdings Inc, Agrinurture Inc, and Sunchamp. Tiu told the Senate that Subido ...

Sunchamp owner sues Trillanes, seeks P5M
Philippine Daily Inquirer - 2014-10-23
Tiu is the executive chair of AgriNurture Inc. and president of Greenergy Inc. He also owns Sunchamp Real Estate Development Corp., registered owner of a 350-hectare farm in Batangas province that was allegedly owned by Binay. Tiu said Trillanes ...

Sunchamp owner sues Trillanes, seeks P5M
Philippine Daily Inquirer - 2014-10-23
Tiu is the executive chair of AgriNurture Inc. and president of Greenergy Inc. He also owns Sunchamp Real Estate Development Corp., registered owner of a 350-hectare farm in Batangas province that was allegedly owned by Binay. Tiu said Trillanes ...

Antonio Tiu paid P11M downpayment for Batangas property
Philippine Daily Inquirer - 2014-10-22
Tiu is the owner of the Greenergy Holdings Inc., the majority shareholder of the Sunchamp Real Estate Development Corp, which he said owned the Batangas property. He has repeatedly denied acting as front for the Vice President.

Antonio Tiu paid P11M downpayment for Batangas property
Philippine Daily Inquirer - 2014-10-22
Tiu is the owner of the Greenergy Holdings Inc., the majority shareholder of the Sunchamp Real Estate Development Corp, which he said owned the Batangas property. He has repeatedly denied acting as front for the Vice President.

Century Properties prepares QC project
Manila Bulletin - 2014-10-22
Century Properties Group (CPG) recently held the topping out ceremony of the second and third towers of the Residences at Commonwealth, its first masterplanned community development in Quezon City that highlights a nurturing and holistic lifestyle.

Philex says Padcal cleared for full operations by PAB
Rappler - 2014-10-22
MANILA, Philippines (UPDATED) - The Pollution Adjudication Board (PAB) has lifted a cease-and-desist order it had imposed on Philex Mining Corporation due to the massive tailings spill that occurred in its Padcal copper-gold mine in Itogon, Benguet ...

Lucio Tan to acquire minority shares in PAL at a discount
interaksyon.com - 2014-10-22
Under the tender offer, shares in PAL Holdings Inc will be acquired for P1.19 a share, or a 78 percent discount to yesterday's closing price of P5.31 a share. Tan is coursing the purchase through Buona Sorte Holdings Inc (BSHI) and Horizon Global ...

FACTBOX | Is businessman Antonio Tiu merely a 'dummy' for the VP?
MSN - 2014-10-22
In 1997, Tiu put up AgriNurture Inc, which started as an importer, trader and fabricator of post-harvest agricultural machineries before eventually diversifying into other agro-commercial businesses. AgriNurture focuses on the export of fresh Carabao ...

PH stock index climbs back above 7,100-mark
interaksyon.com - 2014-10-22
The top gainers were Benguet, Unioil and Ever-Gotesco, while the biggest losers were Makati Finance, Central Azucarera and Forum Pacific. "The market right now is in the midst of a technical bounce after that selloff a couple of weeks ago," said Jose ...

Phoenix Semiconductor to keep its Samsung contract over the years
Manila Bulletin - 2014-10-21
Phoenix Semiconductor Philippines Corp. (PSPC) is confident it can keep its contract with its sole customer Samsung Group of South Korea amid fears that the soon-to-be public company will stay complacently dependent in having only one firm as its client.

Metrobank aims for 30% consumer-loan expansion
BusinessMirror - 2014-10-21
Perez said subsidiary lender Philippine Savings Bank caters to the housing needs of the mass market. Metrobank processes housing loans costing P2 million and above. Metrobank senior vice president and consumer lending group head, Rowena Oliveros ...

Citystate Savings offers affordable auto loans
Philstar - 2014-10-21
MANILA, Philippines - Citystate Savings Bank has made it easier for auto lovers to buy a car by offering reduced interest rates for car loans. Car loans have the lowest interest rate of 5.19 percent for a minimum payment period of one year. For a maximum ...

PAL Holdings to remain listed - Tan
Philstar - 2014-10-21
PAL Holdings Inc. assistant corporate secretary Ma. Cecilia Pesayco informed the PSE yesterday that the company intends to comply with the 10 percent minimum public float requirement of the Exchange once the voluntary tender offer is completed.

Phoenix Semiconductor expects brisk IPO at below-ceiling offer price
interaksyon.com - 2014-10-21
During Monday's investors' briefing, BDO Capital and Investments Corp president Eduardo Francisco said demand for the shares of Phoenix Semiconductor Philippines Inc was strong at the range of P2.82-3.13 per share. The range is equivalent to a price-to ...

Phoenix Semiconductor expects brisk IPO at below-ceiling offer price
interaksyon.com - 2014-10-21
MANILA - The local arm of one of Samsung's South Korean suppliers sees strong take-up for its maiden share sale if sold at a discount to its offer price ceiling. During Monday's investors' briefing, BDO Capital and Investments Corp president Eduardo ...

Phoenix Semiconductor plans to reduce reliance on Samsung
BusinessMirror. - 2014-10-20
SOUTH Korean firm Phoenix Semiconductor Philippines Inc. said it will significantly reduce the reliance of its business from the global electronics giant Samsung as it will start taking orders from Japanese and American companies. Dong-joo Kim, the company ...

Tan buying out PAL minority at a discount
Manila Standard Today - 2014-10-20
Two companies controlled by tycoon Lucio Tan offered to buy out minority shareholders in PAL Holdings Inc. and Philippine Airlines Inc. at discounted prices of P1.19 per share and P0.31 per share, respectively. Sources said the offer period would be from ...

Taipan Lucio Tan to buy minority shares in PAL
BusinessMirror. - 2014-10-20
THE group of taipan Lucio C. Tan is acquiring the stake held by the minority shareholders in flag carrier Philippine Airlines Inc. (PAL) and its listed parent PAL Holdings Inc. The move of the Filipino billionaire to launch the voluntary tender offer ...

Taipan Lucio Tan to buy minority shares in PAL
BusinessMirror. - 2014-10-20
THE group of taipan Lucio C. Tan is acquiring the stake held by the minority shareholders in flag carrier Philippine Airlines Inc. (PAL) and its listed parent PAL Holdings Inc. The move of the Filipino billionaire to launch the voluntary tender offer ...

Taipan Lucio Tan to buy minority shares in PAL
BusinessMirror - 2014-10-20
THE group of taipan Lucio C. Tan is acquiring the stake held by the minority shareholders in flag carrier Philippine Airlines Inc. (PAL) and its listed parent PAL Holdings Inc. The move of the Filipino billionaire to launch the voluntary tender offer ...

Biomass firm Green Power to raise P290M from IPO
Rappler - 2014-10-20
MANILA, Philippines - An Iloilo, Panay-based biomass company is intending to raise as much as P290 million ($6.47 million*) from an initial public offering (IPO). Green Power Panay Philippines Inc. is currently ... Philippine Stock Exchange (PSE) through ...

Group of Lucio Tan's brother offers to buy out remaining shareholders of Jackstones
interaksyon.com - 2014-10-20
MANILA - An investor group led by the estranged brother of billionaire Lucio Tan plans to transform Jackstones Inc into a holding firm with investments in real estate, energy and technology. In a regulatory filing, Jackstones said the Ketton Group is ...

Group of Lucio Tan's brother offers to buy out remaining shareholders of Jackstones
interaksyon.com - 2014-10-20
MANILA - An investor group led by the estranged brother of billionaire Lucio Tan plans to transform Jackstones Inc into a holding firm with investments in real estate, energy and technology. In a regulatory filing, Jackstones said the Ketton Group is ...

Ayala Land spending same amount next year for capex
MSN - 2014-10-19
MANILA - Ayala Land Inc (ALI) plans to sustain its huge capital spending next year despite the move of the Philippine central bank to tighten monetary policy. ALI chief finance officer Jaime Ysmael said the property developer's 2015 capital expenditure ...

Ayala wins Global Family Business Award
philstar.com - 2014-10-19
MANILA, Philippines - Ayala Corporation, one of the oldest and largest business groups in the Philippines, was awarded the 19th Annual IMD-Lombard Odier Global Family Business Award at the 25th Summit of the Family Business Network International (FBN-I ...

Lucio Tan taking PAL private
philstar.com - 2014-10-18
MANILA, Philippines ... interest in Trustmark Holdings Corp. for $500 million. With SMC on board, PAL embarked on a massive fleet renewal program involving the acquisition of 100 brand new aircraft. PAL entered into its first Purchase Agreement with ...

Lucio Tan to buy out PAL minority
Manila Standard Today - 2014-10-17
Two companies controlled by tycoon Lucio Tan have offered to buy out minority shareholders in PAL Holdings Inc. in a bid to solidify its control of the airline. PAL Holdings said Friday Buona Sorte Holdings Inc. and Horizon Global Investments Ltd., two ...

Market declines; Vitarich advances
Manila Standard Today - 2014-10-17
Stocks fell Friday, as traders remain on edge about the global economy and amid fresh fears over Greece. The Philippine Stock Exchange index, the 30-company benchmark, dropped 25 points, or 0.4 percent, to close at 7,003.22. It lost 2.8 percent this week ...

Macay to sell P1-B shares in rights offer
Manila Bulletin - 2014-10-17
Macay Holdings, Inc., an investment arm of businessman Alfredo Yao, is planning to sell shares worth about P1 billion through a stock rights offering to fund the expansion of the bottling facilities of subsidiary RC Cola bottler ARC Refreshments.

Marcventures receives go signal to resume mining operations in Surigao
BusinessMirror. - 2014-10-17
MARCVENTURES Holdings Inc. on Friday said it received the green light from a government agency to resume its full mining operations and commercial production in Surigao del Sur. The company said the Mines and Geosciences Bureau (MGB) of the Department of ...

Marcventures allowed to resume mining nickel
Manila Bulletin - 2014-10-17
Marcventures Holdings ,Inc. reported that its wholly-owned subsidiary Marcventures Mining and Development Corporation has been allowed to resume full mining operations and commercial production. In a disclosure to the Philippine Stock Exchange, the firm ...

Macay Holdings sets stock rights offering
Philstar - 2014-10-17
MANILA, Philippines - Macay Holdings Inc., the investment vehicle of Zest-O founder Alfredo Yao, will undertake a stock rights offering to raise funds for the expansion of its bottling facilities, the company said yesterday. In a disclosure to the local ...

Lucio Tan offers to buy out PAL minority shareholders
interaksyon.com - 2014-10-17
In a disclosure to the Philippine Stock Exchange, PAL Holdings Inc said it received a notice of voluntary tender offer from Buona Sorte Holdings Inc (BSHI) and Horizon Global Investments Ltd (HGIL) last October 17 to acquire all remaining shares in the ...

Lucio Tan offers to buy out PAL minority shareholders
interaksyon.com - 2014-10-17
In a disclosure to the Philippine Stock Exchange, PAL Holdings Inc said it received a notice of voluntary tender offer from Buona Sorte Holdings Inc (BSHI) and Horizon Global Investments Ltd (HGIL) last October 17 to acquire all remaining shares in the ...

Lucio Tan offers to buy out PAL minority shareholders
interaksyon.com - 2014-10-17
In a disclosure to the Philippine Stock Exchange, PAL Holdings Inc said it received a notice of voluntary tender offer from Buona Sorte Holdings Inc (BSHI) and Horizon Global Investments Ltd (HGIL) last October 17 to acquire all remaining shares in the ...

Marcventures receives go signal to resume mining operations in Surigao
BusinessMirror. - 2014-10-16
MARCVENTURES Holdings Inc. on Friday said it received the green light from a government agency to resume its full mining operations and commercial production in Surigao del Sur. The company said the Mines and Geosciences Bureau (MGB) of the Department of ...

Lenders report full use of share sale proceeds
BusinessMirror. - 2014-10-16
The Asia United Bank Corp. (AUB) and the Philippine Business Bank (PBB) have each fully utilized the proceeds from their respective initial public offerings (IPO), which generated P7.4 billion for the former and P3 billion for the latter. AUB Corporate ...

Macay may raise some P1 billion from a stock-rights offer
BusinessMirror - 2014-10-16
MACAY Holdings Inc. (MHI), the holding firm of former Ambassador Alfredo Yao, is giving one right for every 50 common shares in its stock-rights offering. In its disclosure to the Philippine Stock Exchange, the company said it will offer as much as 21.36 ...

Trans-Asia Oil unit signs deal for 3 more Frontier Oil oilfields
BusinessMirror. - 2014-10-16
A UNIT of Trans-Asia Oil and Energy Development Corp. of the Phinma Group signed on Thursday three more agreements with Frontier Oil Corp. (FOC) involving Service Contract (SC) 50, which covers the proven Calauit oilfields northwest of Palawan.

Trans-Asia Oil unit signs deal for 3 more Frontier Oil oilfields
Business Mirror - 2014-10-16
A UNIT of Trans-Asia Oil and Energy Development Corp. of the Phinma Group signed on Thursday three more agreements with Frontier Oil Corp. (FOC) involving Service Contract (SC) 50, which covers the proven Calauit oilfields northwest of Palawan. "Trans ...

Millennium Global acquires Cebu-based firm
Philstar - 2014-10-16
MANILA, Philippines - Listed seafood exporter Millennium Global Holdings Inc. is gobbling up a family-run seafood company based in Cebu. In a disclosure to the local bourse, the holding firm formerly known as IPVG Corp. said it is acquiring primary and ...

Yao-led Macay Holdings eyes P1B from sale of new shares
Inquirer - 2014-10-16
MANILA, Philippines--Macay Holdings Inc., which is led by businessman Alfredo Yao, has firmed up a plan to raise about P1 billion in fresh capital from the sale of new shares to existing shareholders. In a disclosure to the Philippine Stock Exchange on ...

Asian Terminals turns to IT to help ease port congestion
interaksyon.com - 2014-10-16
MANILA - Asian Terminals Inc (ATI) has launched a web-based container monitoring system aimed at helping truckers optimize their trips for the delivery of empty containers. In a statement, the operator of Manila South Harbor said its WebTrack facility ...