Robust cargo volume pushes ATI's 2Q net income
interaksyon.com - 2014-08-14
MANILA - Asian Terminals Inc (ATI) on Thursday said its net income rose in the first half of 2014 because of higher cargo volume at the Manila and Batangas ports. In a statement, ATI said its net income surged by 80.3 percent to P933 million in the ...

PSBank net income down two-thirds in first semester
interaksyon.com - 2014-08-14
MANILA - The thrift arm of Metropolitan Bank & Trust Co. reported that earnings dropped by nearly two-thirds in the first six months of the year. In a disclosure to the Philippine Stock Exchange, Philippine Savings Bank (PSBank) said it earned P1.1 ...

National Book Store pushes through with backdoor listing
Manila Bulletin - 2014-08-13
Halted by a few months, the backdoor listing of NBS through Vulcan Industrial & Mining Corp. has supposedly occurred in the first quarter of this year, more than a year after the company announced that its board approved its plan to change the name and ...

Pacific Online posts 10% profit hike
Philstar - 2014-08-13
MANILA, Philippines - Pacific Online Systems Corp. took advantage of the popularity of lottery games to boost its earnings in the first half. In a disclosure, the online lottery system provider of the Philippine Charity Sweepstakes Office (PCSO ...

Geothermal, natural gas units boost First Gen's first-half profit
interaksyon.com - 2014-08-13
MANILA - First Gen Corp's earnings rose by a third in the first 6 months of the year as it benefited from higher contributions of its geothermal and natural gas subsidiaries. In a disclosure to the Philippine Stock Exchange, Lopez-owned First Gen said its ...

Omico officials facing syndicated estafa raps
Manila Standard Today - 2014-08-13
Guevent Investments Development Corp. and Honeycomb Builders Corp. in a 22-page joint complaint-affidavit alleged Omico Corp. and its board led by chairman Tommy Kin Hing Tia had conspired to commit syndicated estafa. The other respondents included Anson ...

Higher real estate sales boost Filinvest Land's 1H income
interaksyon.com - 2014-08-12
MANILA - Filinvest Land Inc posted a double-digit growth in profit in the first six months of the year on higher real estate sales. In a statement, the Gotianun-led property developer said its consolidated net income went up by 15 percent to P2 billion ...

Google Seeks To Boost Asian Presence, Invests In $300M Trans-Pacific Undersea Cable
International Business Times - 2014-08-12
NEC Corporation ... is another trans-Pacific cable system between the U.S and Japan, has a capacity of 7.68 Tbps while SJC, which connects seven Asian countries, has a capacity of 28 Tbps, according to Submarine Cable Networks, an online information ...

Megaworld profits rise 289% to P16.4-B in H1
Sun Star - 2014-08-12
Total revenues of Megaworld, together with its subsidiaries Global Estate Resorts Inc., Empire East Land Holdings and Suntrust Properties, amounted to P31.96 billion for the first half 2014, up 85 percent from P17.28 billion for the same period in 2013.

Extraordinary gain boosts Megaworld's Jan-Jun profit
interaksyon.com - 2014-08-11
MANILA - (UPDATED 11: 13 p.m.) Megaworld Corp's earnings ballooned in the first semester as the company recognized hefty extraordinary gains. In a disclosure to the Philippine Stock Exchange, the property holding firm of billionaire Andrew Tan said its ...

Ayala eyes foreign partners in PPP bids
Rappler - 2014-08-11
MANILA, Philippines - Ayala Corporation is taking in foreign partners as it pursues bigger public-private partnership (PPP) projects being offered by the Aquino administration. The listed conglomerate would partner with foreign investors in bidding for ...

Metrobank founder receives honorary degree from UST
Rappler - 2014-08-11
MANILA, Philippines - "When you have enough especially what you need and things like that, there is a lot of good opportunity in the Philippines for you to do charitable work. You can help a lot of people." Dr George S.K Ty had an unfazed dream of ...

San Miguel H1 net income grows more than six fold
Reuters - 2014-08-11
It also owns controlling stakes in San Miguel Pure Foods Co Inc, liquor maker Ginebra San Miguel Inc, unlisted San Miguel Brewery Inc and has management control of flag carrier Philippine Airlines.

Foreign issues seen affecting stock mart
Manila Standard Today - 2014-08-11
Top losers were PTFC Redevelopment Corp., which plummeted 39.9 percent to P16.22; Federal Resources Investments Corp., which declined 15.8 percent to P10.94; and Primex Corp., which dipped 12.9 percent to P2.96.

Casino closure nearly wipes out Grand Plaza Hotel profit in H1
Philstar - 2014-08-10
MANILA, Philippines - Grand Plaza Hotel Corp., the company behind Heritage Hotel Manila, barely eked out a profit in the first half amid strong competition and lower rental revenues. In a regulatory filing, the hotel operator said as a result of lower ...

For Sale
The Jamaica Observer - 2014-08-10
Last July, the Wyndham Hotel Group, which managed the property ... international branded hotel in Kingston and was popular with US corporate and international travellers," Allison Pitter & Co said in a notice on its website. The former Wyndham Kingston ...

GT Capital interested in Laguna road, dike project
Rappler - 2014-08-10
MANILA, Philippines - GT Capital Holdings of business tycoon George Ty has expressed interest in the government's P123 billion Laguna Lakeshore Expressway-Dike project ... Earlier, Ayala Corp and Metro Pacific Investments Corp also expressed interest ...

Idled Makati condo project leads to estafa raps
Philippine Daily Inquirer - 2014-08-10
Guevent Investments Development Corp. (GIDC) and Honeycomb Builders Corp. (HBI) submitted a 22-page complaint affidavit on July 24 accusing Omico Corp. and its board of directors led by board chair Tommy Kin Hing Tia of conspiring to commit estafa.

Idled Makati condo project leads to estafa raps
Philippine Daily Inquirer - 2014-08-09
Guevent Investments Development Corp. (GIDC) and Honeycomb Builders Corp. (HBI) submitted a 22-page complaint affidavit on July 24 accusing Omico Corp. and its board of directors led by board chair Tommy Kin Hing Tia of conspiring to commit estafa.

Market sinks; EDC, Shang Properties up
Manila Standard Today - 2014-08-09
Stocks fell Friday, on concern rising tensions in Iraq and Ukraine will hamper a global economic recovery and affect growth in emerging markets such as the Philippines. The Philippine Stock Exchange index, the 30-company benchmark, dropped 74 points, or 1 ...

Phinma partners with QC, Cavite LGUs
Manila Standard Today - 2014-08-08
LOCAL government units (LGUs) are forming partnerships with private companies to provide decent and affordable housing for underprivileged families. An example is Bistekville II, a housing project in Barangay Kaligayahan, Novaliches, formed through a tie ...

Higher billed volume boosts Manila Water H1 profit
Rappler - 2014-08-08
MANILA, Philippines - Ayala-led Manila Water Company Inc registered an 8% growth in its net income in the first half of 2014, attributed to higher billed volume across its concession areas. In a regulatory filing, the East Zone metro concessionaire ...

Meralco hikes rates in August
Rappler - 2014-08-08
The Manila Electric Company (Meralco) said Friday, August 8, that the generation charge for August went up by P0.23 ($0.005) per kWh, from P5.41 per kWh ($0.12) to P5.64 ($0.13) per kWh. Largely contributing to the hike were the WESM (Wholesale Electricity ...

Philippine stocks tumble on Iraq, Ukraine jitters
interaksyon.com - 2014-08-08
Top gainers were Synergy Grid, Benguet A and City & Land, while the biggest losers were PTFC, Filipino Fund and Greenergy. "The Philippine market retreated today after briefly holding support at 6,950 as geopolitical issues in Iraq and Russia surfaced on ...

DOTC eyes mini-station in SM North
Philstar - 2014-08-06
Transportation Secretary Joseph Emilio Abaya said the proposal is a "win-win" solution as SM Prime Holdings managed to obtain a temporary restraining order (TRO) from the Supreme Court stopping the DOTC from transferring the location of the P1.4 ...

P150B in bond listings â possibleâ in 2014, says PDEx exec
MSN - 2014-08-05
Bond listings with the PDEx reached P114.8 billion on Friday with Cebu Holdings Inc.'s listing of P5 billion in retail bonds, already exceeding the previous record for bond listings (P111.15 billion in 2012). "This makes 2014 a record year for new listings ...

P150B in bond listings â possibleâ in 2014, says PDEx exec
MSN - 2014-08-05
Bond listings with the PDEx reached P114.8 billion on Friday with Cebu Holdings Inc.'s listing of P5 billion in retail bonds, already exceeding the previous record for bond listings (P111.15 billion in 2012). "This makes 2014 a record year for new listings ...

Apo geothermal draws nine interested parties
MSN - 2014-08-05
Inc.; Good Friends Hydro Resources Corp.; SMC Global Power Holdings Corp.; SPC Power Corp.; Therma Southern Mindanao, Inc.; Trans-Asia Oil and Energy Development Corp.; and Vivant Geo Power Corp. Mr. Ledesma made the announcement following the closing of ...

Lucio Co seals takeover of PBCom
interaksyon.com - 2014-08-05
MANILA - Businessman Lucio Co has signed a P5.98-billion deal with Philippine Bank of Communications (PBCom) that will make him the single biggest shareholder of the lender. In a disclosure to the Philippine Stock Exchange, PBCom said it signed a ...

Cosco completes Liquigaz takeover
Manila Standard Today - 2014-08-05
Cosco Capital Inc., the holding company of tycoon Lucio Co, said Monday it completed the acquisition of a 90-percent stake in Liquigaz Philippines Inc., the second-largest supplier of liquefied petroleum gas in the country. Cosco said in a disclosure to ...

Pia Cayetano to look into Torre de Manila violations
Rappler - 2014-08-04
MANILA, Philippines - Senator Pia Cayetano intends to file a resolution on the controversial DMCI Homes condominium Torre de ... I want to know from them if they know about Torre de Manila violations. Why did they construct? If issues were not resolved ...

NLEX-SLEX connector road faces further delay
philstar.com - 2014-08-04
Philippines - The government has decided to revert back to the Swiss challenge scheme for the proposed P18-billion toll road connecting the North Luzon and South Luzon expressways originally proposed by infrastructure giant Metro Pacific Investments Corp ...

Rising interest rates to drive more companies to join bourse, says PSE chief
interaksyon.com - 2014-08-04
After taking over Pancake House Inc. in February, the Max's Group Inc. infused all its assets into the listed company, paving the way for its backdoor listing into the stock market.

DoubleDragon fires up profit, but 1H results far behind full-year forecast
interaksyon.com - 2014-08-04
In a disclosure to the Philippine Stock Exchange, DoubleDragon Properties Corp said its net income surged to P63.1 million in the April to June period from P3.7 million in the same period last year. The property developer's earnings ballooned to P84.3 ...

Earnings in Q2 to guide market
Manila Standard Today - 2014-08-04
Top gainers last week were Berjaya Philippines Inc., which climbed 30.7 percent to P26.40; ATN Holdings Inc. A and B shares, which jumped 24.3 and 23.1 percent, respectively and Bogo-Medellin Milling Co. Inc., which advanced 21.3 percent to P78.95.

Swiss challenge to delay NLEX-SLEX connector road
Rappler - 2014-08-03
and state-run Philippine National Construction Corporation (PNCC) is illegal. "We received the DOJ opinion, and essentially, the direction is to go back to the unsolicited proposal and Swiss Challenge," said Transportation Secretary Joseph Emilio Abaya.

All the glitz & glamour for charity
philstar.com - 2014-08-03
Padolina, Jemstone Global Recruitment Agency owner and chief executive officer Jennifer Helen Weigel Sarmiento, Anchor Land Holdings president Elizabeth Digna L. Ventura and jewelry designer Ofelia Nuñez-Wadle. Now on its 11th year, the Best Dressed Women ...

Trans-Asia Pet to list by way of introduction
philstar.com - 2014-08-02
In January, Top Frontier Investment Holdings Inc., the majority shareholder of diversified conglomerate San Miguel Corp., listed through this route. In August 2012, Trans-Asia Oil approved the declaration of 123.161 million common shares in the oil ...

Century Properties Group taps Parish Hilton anew
Manila Standard Today - 2014-08-01
FROM the success of the Paris development beach club, an out-of-city replica of Azure Urban Resort Residences in Paranaque will be built north of Manila by leading property developer Century Properties Group. Beach Club Part 2. Century Properties Group Inc ...

MGB lifts suspension order on Oriental Peninsula mine in Palawan
GMA Network - 2014-08-01
Listed Oriental Peninsula Resources Group Inc. may resume operations of one of its mines in Palawan after getting the go signal from the Mines and Geosciences Bureau (MGB). In a disclosure to the Philippine Stock Exchange Friday, Oriental Peninsula said it ...

Concepcion Industrial earnings surge 45% to P346 M in H1
Philstar - 2014-07-31
MANILA, Philippines - Robust sales from both consumer and industrial segments boosted the earnings of local appliance maker Concepcion Industrial Corp. (CIC) in the first half of the year. In a regulatory filing, CIC said its net profit surged 45 percent ...

PSE approves listing of TransAsia subsidiary
interaksyon.com - 2014-07-31
Trans-Asia Petroleum will be the second company this year to join the bourse via listing by way of introduction after Top Frontier Investment Holdings Inc. Aside from Top Frontier, Double Dragon Properties Corp and Century Pacific Food Inc entered the ...

Phinma aligns with K-12, forms new unit to offer senior high school
interaksyon.com - 2014-07-31
MANILA - Phinma Corp will soon offer senior high schools in key cities as the listed company adjusts to changes in the Philippine educational system. In a disclosure to the Philippine Stock Exchange, Phinma said its board of directors approved a P150 ...

FEU Manila, FEU Tech order evacuation after bomb threat
News Philippines Yahoo - 2014-07-31
(UPDATE) Far Eastern University Manila and Far Eastern University Tech have cancelled classes and ordered a massive evacuation, following a "suspected bomb threat" Thursday. In a message posted on its official Facebook page, university officials have ...

BDO Leasing earns more than half of 2014 profit goal at end-June
interaksyon.com - 2014-07-31
MANILA - BDO Leasing and Finance Inc. grew its net income by nearly a fourth in the first six months of the year. In a disclosure to the Philippine Stock Exchange, the wholly owned unit of BDO Unibank Inc. said its net income jumped 23 percent to P250.80 ...

BSP clears PBCom's acquisition of rural bank in Laguna
interaksyon.com - 2014-07-31
MANILA - Philippine Bank of Communications (PBCom) has obtained the approval of the Bangko Sentral ng Pilipinas (BSP) to buy a rural bank in Laguna. In a disclosure to the Philippine Stock Exchange, PBCom said it received this morning the regulatory ...

CIMB eyes Philippine Business Bank
theSundaily - 2014-07-30
PETALING JAYA: CIMB Group Holdings Bhd, which is currently in merger talks with RHB Capital Bhd (RHBCap) and Malaysia Building Society Bhd (MBSB), is reportedly in talks to invest in Philippine Business Bank (PBB), a thrift bank in the Philippines.

Will the real road rage suspect step forward?
Philippine Daily Inquirer - 2014-07-30
The Mercedes Benz, ?bearing a KDP 313 plate, was reportedly registered under the Primex Development Corp. The complaint of the taxi driver against Ang showed that the businessman is a corporate secretary and director of Primex with business address on ...

PNP on 'road rage' video: Hear both sides
Rappler - 2014-07-30
MANILA, Philippines - The Philippine National Police (PNP) on Wednesday, July 30, called for sobriety while police begin investigating an apparent case of road rage that led to an ... which is owned by Primex Development Corp. According to reports ...

Cirtek seals acquisition of wireless products manufacturer
interaksyon.com - 2014-07-30
MANILA - Cirtek Holdings Philippines Corp expects a growth spurt next year following the acquisition of a local manufacturer of wireless products. In a disclosure to the Philippine Stock Exchange, the Laguna-based semiconductor firm said its consolidated ...