More Uniwide investors file raps vs developer
Philstar - 2013-12-30
MANILA, Philippines - Another group of small investors of Uniwide Holdings Inc. (UHI) has sued executives of Manila Bay Development Corp. (MBDC) for their lost investments. Led by Celso Eucogco, the second set of Uniwide stockholders filed a second amended ...

Court asked to reverse ruling favoring Manila Bay Development Corp.
Philippine Daily Inquirer - 2013-12-29
MANILA, Philippines--Small investors of Uniwide Holdings Inc. (UHI) asked the Paranaque Regional Trial Court to reverse the ruling of the Municipal Trial Court in favor of the Manila Bay Development Corporation (MBDC) which ordered Uniwide to vacate the ...

Court asked to reverse ruling favoring Manila Bay Development Corp.
Philippine Daily Inquirer - 2013-12-29
MANILA, Philippines--Small investors of Uniwide Holdings Inc. (UHI) asked the Paranaque Regional Trial Court to reverse the ruling of the Municipal Trial Court in favor of the Manila Bay Development Corporation (MBDC) which ordered Uniwide to vacate the ...

P14M fund approved for employment of Yolanda-stricken sugar workers
interaksyon.com - 2013-12-28
Yolanda affected the following sugar milling districts: Region 6 - Lopez, Sagay, and Victorias, Region 7 - Bogo-Medellin, and Region 8 HISUMCO-Kananga. "The employment/livelihood and income of sugar workers in these affected sugar milling districts have ...

CDN photo touches OFW; cash aid sent to crash victims
Philippine Daily Inquirer - 2013-12-28
"This just shows us the power of a photograph." Magpale was able to locate the Tul-eds in the hospital of the Bogo-Medellin Sugar Milling Company. Monares received the P10,000 cash gift inside their house in barangay Caduawan in Tabogon town.

Successful Strategies For Doing Business In Asia: Japan
JD Supra - 2013-12-27
1. What role does the government of Japan play in approving and regulating foreign direct investment? Generally speaking, foreigners can conduct business in Japan on an equal legal footing with Japanese citizens. The government of Japan is keenly ...

San Miguel power arm eyes IPO in 2014
interaksyon.com - 2013-12-27
It's more of acquisitions," Ang said. First or second week January listing for Top Frontier As for Top Frontier Investment Holdings Inc, the key San Miguel shareholder will debut in the local bourse through listing by way of introduction in the "first or ...

Yao forms new firm
Manila Standard Today - 2013-12-27
MayBank ATR Kim Eng Financials Corp., which will soon be transformed into the holding company of former Ambassador Alfredo Yao, has formed a P1-billion company called ARC Refreshments Corp. Maybank ATR said in a disclosure to the stock exchange it would be ...

Black River ups stake in Philippine food exporter AgriNurture
VENTURE CAPITAL POST - 2013-12-27
Black River Capital Partners Food Fund Holdings (Singapore) Pte Ltd has increased its stake in Philippine food exporter AgriNurture Inc, according to a disclosure filing with the Philippine Stock Exchange on Friday. The asset management firm has lifted its ...

Year 2013: Its high and low moments
Manila Standard Today - 2013-12-26
4.The Ayala and Cebu Holdings launched expansion programs with over 200 stores, four levels connected to existing building, adding 36,500 meters of gross leasable area; merchandise mix of foreign and local, high and mid-priced. Soon, its Corporate Center ...

Bargain hunting lifts PH stock market
interaksyon.com - 2013-12-26
Top gainers were Leisure and Resorts, I-Remit and Marcventures, while the biggest losers were Alphaland, Ionics and Lorenzo Shipping. "There was some last-minute shopping for investors," said Astro del Castillo, managing director at First Grade Finance Inc ...

Road to northern growth opens
Philippine Daily Inquirer - 2013-12-24
The expressway was made possible by Private Infra Dev Corp., which involves San Miguel Corp. (SMC) and DMCI Holdings Inc. The entire project is set to be completed by 2018, two years after Mr. Aquino steps down from office, but the President is optimistic ...

More firms to list with PSE in 2014
Rappler - 2013-12-24
MANILA, Philippines - More firms are expected to list with the Philippine Stock Exchange (PSE) in 2014 as corporate appetite is expected ... Concepcion Industrial Inc, Harbor Star Shipping Inc, and Discovery World Corp. Del Monte Pacific Ltd, on the ...

Megawide eyes growth in recurring revenue from PPP projects
interaksyon.com - 2013-12-23
MANILA - Megawide Construction Corp expects a significant change in its earnings mix as the contribution of its infrastructure ventures is seen to account for half of the business in the next four years. Megawide chief financial officer Oliver Tan last ...

City and Land Developers Inc (LAND)
investing.com - 2013-12-23
Featured here, the Balance Sheet for City and Land Developers Inc, which summarizes the company's financial position including assets, liabilities and shareholder equity for each of the latest 4 period ending dates (either quarterly or annually).

Lopez Inc. completes payment for additional ABS-CBN shares
Philstar - 2013-12-22
ABS-CBN earlier raised P2.5 billion through an issuance of Philippine ... Upon completion of the share and PDR subscriptions, Lopez Inc. would hold 56 percent of the outstanding common shares and retain voting control of 79 percent of all outstanding ...

LRWC slates P250-M share offer
Philstar - 2013-12-22
build the Techzone BPO building in Makati City and roll out additional bingo sites. LRWC subsidiary AB Leisure Global Inc. is entitled to 30 percent of the fixed yearly income generated from the lease of all commercial spaces in City of Dreams Manila.

Meralco told to hold off any hike in Jan rate
Rappler - 2013-12-22
MANILA, Philippines - Defer any further adjustment in the generation charge. This was the Energy Regulatory Commission's (ERC) response to Manila Electric Company's (Meralco) notice, informing the regulator about a possible new adjustment in the ...

Badges of fraud
Philstar - 2013-12-21
The "badges of fraud" include: first, the 50 percent reduction in ... thereby rendering heavy business losses to the plaintiff (Uniwide Holdings) while the defendant was well-paid of the rentals albeit without doing good its part of the bargain ...

Concepcion Industrial posts 14.7% hike in net income
philstar.com - 2013-12-21
MANILA, Philippines - Homegrown appliance maker Concepcion Industrial Corp. (CIC) posted a healthy earnings growth in January to September due to strong sales in all business segments. The supplier of integrated cooling and refrigeration solutions is ...

Melco secures P15B in fresh capital
philstar.com - 2013-12-21
In a regulatory filing, listed Melco Crown (Philippines) Resorts Corp. said its subsidiary MCE Leisure (Philippines) Corp. priced its senior notes offered to limited investors through a private placement. "The notes offering consists of P15-billion ($340 ...

AgriNurture receives P335M infusion from Singaporean firm
interaksyon.com - 2013-12-21
MANILA - A Singaporean asset management firm has lent P335 million to AgriNurture Inc (ANI). In a disclosure to the Philippine Stock Exchange, ANI said Black River Capital Partners Food Fund Holdings pushed through with its capital infusion, subscribing ...

Phoenix Petroleum raises P500M from sale of preferred shares
interaksyon.com - 2013-12-21
MANILA - Phoenix Petroleum Philippines Inc has raised additional funds through a private placement. In a disclosure to the Philippine Stock Exchange, Phoenix Petroleum said it concluded the sale of P500 million worth of perpetual non-convertible preferred ...

Concepcion Industrial nets P608 M in first 9 months
Inquirer - 2013-12-20
MANILA -- Newly listed Concepcion Industrial Corp. grew its nine-month net profit by 14.7 percent year-on-year to P607.8 million as all businesses expanded, led by airconditioning and commercial refrigeration units. Net sales for the January to ...

Leftist lawmakers seek TRO vs Meralco price hike
Rappler - 2013-12-19
MANILA, Philippines - Lawmakers from the Makabayan bloc on Thursday, December 19, sought for a temporary restraining order (TRO) against the record-high price hike of the Manila Electric Company (Meralco). Citing "transcendental public interest," the ...

APC sheds more assets amid plan to become SM group's energy arm
interaksyon.com - 2013-12-19
MANILA - APC Group Inc today said its board approved the sale of its stake in a telephone company ahead of a plan to consolidate the SM group's energy-related assets into the listed company. In a disclosure to the Philippine Stock Exchange, APC said its ...

APC sheds more assets amid plan to become SM group's energy arm
interaksyon.com - 2013-12-19
MANILA - APC Group Inc today said its board approved the sale of its stake in a telephone company ahead of a plan to consolidate the SM group's energy-related assets into the listed company. In a disclosure to the Philippine Stock Exchange, APC said its ...

Agham partylist wants levelling of Zambales mountains stopped
Philippine Daily Inquirer - 2013-12-19
Cruz, Zambales. The petition was filed against DMCI Holdings Incorporated and DMCI Mining Corporation, which have been engaged in the mining of metallic ore in Zambales. In a 10-page petition, Agham partylist President Angelo Palmones said a temporary ...

SEC clears stock market entry of key San Miguel shareholder
interaksyon.com - 2013-12-18
Documents from SEC show that Top Frontier Investment Holdings Inc will register 490.196 million common shares with a par value of P1 per share, including 240.196 million shares that SMC declared as property dividends. The SEC noted that it deferred the ...

Megawide taps Landbank to arrange P2.9B loan for Orthopedic Center upgrade
interaksyon.com - 2013-12-18
MANILA - Megawide Construction Corp is taking on fresh debt to finance the upgrade of the Philippine Orthopedic Center in Quezon City. Megawide chief financial officer Oliver Tan told reporters that the company is finalizing a P2.9-billion syndicated ...

Manila Water Consortium bags Cebu bulk water supply deal
Philstar - 2013-12-17
MANILA, Philippines - A subsidiary of Ayala-led Manila Water Company Inc. has was been awarded the bulk water supply contract for the Metropolitan Cebu Water District (MCWD). Cebu Manila Water Development, Inc., the joint venture company formed by the ...

Gokongwei family ventures into cosmetics business
philstar.com - 2013-12-17
MANILA, Philippines - Robinsons Retail Holdings Inc., the multi-format retail chain of the Gokongwei family, is pursuing the cosmetics business for the first time as it acquires the operator of Shiseido and Benefit stores in the Philippines. "Robinsons ...

First Gen signs up Siemens to build, operate natural gas power plant in Batangas
interaksyon.com - 2013-12-17
MANILA - First Gen Corp has tapped Germany's Siemens AG to put up the Philippine company's third natural gas-fired power plant in Batangas. In a disclosure to the Philippine Stock Exchange, First Gen said wholly-owned First NatGas Power Corp signed up ...

47 firms compliant with Shariah -- PSE
Manila Standard Today - 2013-12-17
The Philippine Stock Exchange on Monday released the names of 47 listed companies that are compliant with the Islamic law, a move that will enable the exchange to get a share of the $1.5 trillion worth of global funds. PSE president Hans Sicat said in a ...

Robinsons Retail buys Shiseido, Benefit stores
Manila Standard Today - 2013-12-17
Robinsons Retail Holdings Inc., a unit of conglomerate JG Summit Holdings Corp. of retail and airline tycoon John Gokongwei, said Monday it is acquiring the assets of a company that operates Shiseido and Benefit cosmetics stores in the country. Robinsons ...

47 Shariah-compliant firms named
Rappler - 2013-12-16
PSE president Hans Sicat said the release of the list of Shariah-compliant firms should boost liquidity in the stock market, thanks to better participation from institutional and retail players. Sicat explained, "The listing of the Shariah-compliant ...

Market abuse? DOJ sets probe amid Meralco price hike
Rappler - 2013-12-16
and DMCI Holdings Incorporated. Akbayan Partylist Rep Walden Bello, who is among the petitioners, said "there is strong circumstantial evidence" that a possible collusion among the power firms occured. Bello also called on President Benigno Aquino III "to ...

DOJ office probing power rate hike given Jan. deadline
Philippine Daily Inquirer - 2013-12-16
The group particularly pointed to possible collusion between Meralco, First Gas Power Corporation, San Miguel Corporation, Kepco Philippines, Aboitiz Power, Team Energy Corporation, AES Philippines and DMCI Holdings, Incorporated following the simultaneous ...

47 companies listed on local stock exchange comply with Islamic law
Inquirer - 2013-12-16
Cirtek Holdings Philippines Corp., City & Land Developers Inc., Concrete Aggregates Corp., D&L Industrues, DFNN Inc., EEI Corp., Holcim Philippines, Ionics Inc., iPeople Inc., Keppel Philippines Properties, Lafarge Republic, Liberty Flour Mill, Mabuhay ...

Market to take cue from US Fed
Manila Standard Today - 2013-12-16
Top weekly decliners included Roxas and Co Inc., which dipped 42.8 percent to P8; LMG Chemicals Corp., which declined 20.9 percent to P3.28; and Basic Energy Corp., which went down by 12.9 percent to P0.235.

P400-M IN UNIWIDE FUNDS SOUGHT: Manila Bay developer sued again
Manila Standard Today - 2013-12-16
Investors of Uniwide Holdings Inc. are suing the head of the Manila Bay Development Corp. and two former Uniwide executives to recover P381 million in rentals at the biggest mall project in the 1990s. Stockholder Brenelie Rualo assisted by lawyer Thomas ...

Result of Meralco rate hike probe out soon
Rappler - 2013-12-15
MANILA, Philippines - The government will release on December 30 the results of its investigation into the power rate hike of Manila Electric Company (Meralco). Conducted by the Department of Energy (DOE), the Energy Regulatory Commission (ERC ...

Investors sue Uniwide Holdings head, 2 former execs
Inquirer - 2013-12-15
MANILA, Philippines-Investors of Uniwide Holdings Inc. filed a case for estafa against the head of the Manila Bay Development Corp. (MBDC) and two former Uniwide executives who, they say, had allegedly conspired to defraud UHI of P2.1 billion that caused ...

Shareholders file P2.1B estafa vs former Uniwide executives, developer
Manila Bulletin - 2013-12-15
The head of property developer Manila Bay Development Corp. (MBDC) and two former Uniwide Holdings Inc. (UHI) executives are now facing a P2.1 billion estafa complaint before the Makati City Prosecutors Office for allegedly conspiring to defraud the ...

PLDT downs Systema to bag first PSL men's title
Rappler - 2013-12-14
MANILA, Philippines (UPDATED) - The PLDT myDSL Speed Boosters made history for men's volleyball by being the first champions of the men's division in the country's first commercial volleyball league, the Philippine Super Liga Grand Prix. PLDT defeated an ...

Alliance Select expects return to profit should PH tuna secure duty-free access to EU
interaksyon.com - 2013-12-13
MANILA - Alliance Select Foods Inc expects to benefit significantly from the move of the Philippine government to seek zero tariffs for exports to the European Union. In a disclosure to the Philippine Stock Exchange, Alliance Select said the Philippines ...

PLDT unit raises P1.3B from sale of remaining shares in Philweb
interaksyon.com - 2013-12-13
MANILA - A unit of Philippine Long Distance Telephone Co (PLDT) on Friday completed its exit from Philweb Corp. In a disclosure to the Philippine Stock Exchange (PSE), PLDT said ePLDT Inc sold its remaining shares in Philweb totaling 117.518 million ...

PH stock market ends week below 2012 close
interaksyon.com - 2013-12-13
Most actively traded stocks were PLDT, Alliance Global, Ayala Land, and SM Investments. Top gainers were Lorenzo Shipping, Medco and Citystate, while the biggest losers were Philippine Estates, Greenergy and Apex A. Signs of a strengthening US economy ...

Trans-Asia to acquire stake in Frontier Oil
interaksyon.com - 2013-12-13
MANILA - Trans-Asia Oil and Energy Development Corp is investing in Frontier Oil Corp. In a disclosure to the Philippine Stock Exchange, Frontier Oil said Trans-Asia, through wholly-owned subsidiary Trans-Asia Petroleum Corp, will subscribe to an ...

Philippines-based oil firm Trans-Asia to take stake in Frontier Oil
VENTURE CAPITAL POST - 2013-12-13
The IPO proceeds will fund Frontier's petroleum exploration and development contracts, the report stated. Trans-Asia holds interests in a number of oil and gas blocks in the Philippines. The firm is the energy arm of the private holding firm Philippine ...