PAL Holdings beats public float deadline
Rappler - 2013-06-27
MANILA, Philippines - PAL Holdings Inc., parent of legacy carrier Philippine Airlines (PAL), announced Thursday, June 27 it was now compliant with the stock exchange's public float rule after selling shares. In a disclosure to the Philippine Stock Exchange ...

Marcventures sells 34.5% interest to new investor
Inquirer - 2013-06-26
MANILA, Philippines--A new mining investor, through the trust unit of newly listed Philippine Business Bank, has bought 34.5 percent of Marcventures Holdings Inc., becoming the single ... Yao--by the group of Mario Vijungco, the current chairman of ...

PAL Holdings to hike capital
philstar.com - 2013-06-26
PAL Holdings Inc. assistant corporate secretary Ma. Cecilia Pesayco said in a disclosure to the Exchange that it has filed an application with the SEC to increase its authorized capital stock to P30 billion from the current P23 billion. The application to ...

Uniwide cries foul over liquidation order
Philstar - 2013-06-26
In a disclosure to the stock exchange, Uniwide Holdings Inc. said it is "unfair that the corporation be dissolved and liquidated." As early as December 2012, Uniwide said it filed petitions before the Securities and Exchange Commission (SEC ...

Consumer groups ask SC to stop water hike
Rappler - 2013-06-26
... a petition for certiorari and prohibition to the Supreme Court asking to stop the impending water price hike by Manila Water Company Inc., (MWCI) and Maynilad Water System (MWSI). The petition, filed on Tuesday, June 25, by WaterWatch Coalition Inc ...

2 Cebu Pacific pilots in mishap suspended
Philippine Daily Inquirer - 2013-06-25
Cebu Air Inc., operator of the budget carrier, said it would comply with the CAAP recommendations and was pursuing additional safety initiatives. "Safety has always been the highest priority for Cebu Pacific," it said in a statement. "We aim to ...

Ayala Land enters hospital business
Rappler - 2013-06-24
MANILA, Philippines - Property giant Ayala Land Inc. is venturing into the healthcare business to add to the holistic offerings of its mixed-use projects. Ayala Land, the country's biggest property firm in terms of assets, is initially eyeing a P600 ...

Andrew Tan consolidates property units
Rappler - 2013-06-24
The consolidation involves folding 3 companies into Megaworld: leisure estate unit Global-Estate Resorts Inc (GERI), middle-income residential development unit Empire East Land Holdings Inc (ELI) and affordable homes developer Suntrust Properties Inc. In a ...

Metro Pacific acquires Tarlac's largest hospital
Rappler - 2013-06-24
MANILA, Philippines - Manuel Pangilinan-led Metro Pacific Investments Corp. (MPIC) is taking a 51% stake in Tarlac's largest private hospital for P187 million. In a disclosure to the Philippine Stock Exchange on Monday, June 24, MPIC announced it signed an ...

Uniwide says SEC dissolution order 'unfair'
interaksyon.com - 2013-06-24
MANILA - Uniwide Holdings Inc called the decision of the Securities and Exchange Commission (SEC) to dissolve and liquidate the firm and five other companies under the Uniwide group as "unfair." In a disclosure to the Philippine Stock Exchange, Uniwide ...

Uniwide says SEC dissolution order 'unfair'
interaksyon.com - 2013-06-24
MANILA - Uniwide Holdings Inc called the decision of the Securities and Exchange Commission (SEC) to dissolve and liquidate the firm and five other companies under the Uniwide group as "unfair." In a disclosure to the Philippine Stock Exchange, Uniwide ...

Banking failures cost P3b
Manila Standard Today - 2013-06-24
Among those facing charges for banking law violations are the former chairman, two former presidents and three other former senior officers of the closed Export and Industry Bank (EIB), he said. EIBs closure on April 26, 2012 distressed more than 50,000 ...

Kin, lawyers, big business among Team PNoy donors
Rappler - 2013-06-23
MANILA, Philippines - Eleven candidates of the administration senatorial slate Team PNoy received a combined P894,088,297.79 ... Jun Magsaysay was Enato Magadia, president of Metro Alliance Holdings and Equities Corp. Two other business bigwigs gave ...

SEC orders liquidation of Uniwide assets
Philstar - 2013-06-22
namely Uniwide Sales Inc., Uniwide Holdings Inc., Naic Resources & Development Corp., Uniwide Sales Realty and Resources Corp., First Paragon Corp. and Uniwide Sales Warehouse Club Inc. Liquidation of all existing assets will follow to pay existing debts.

APC restructuring approved
Manila Standard Today - 2013-06-22
Shareholders of APC Group Inc. on Tuesday approved the companys restructuring program, as it plans to transform into a unit that will hold the power-related projects of tycoon Henry Sy. APC president Frederic Dybuncio said in an interview following the ...

SEC orders Uniwide to close shop, sell off remaining assets
interaksyon.com - 2013-06-21
MANILA - The Securities and Exchange Commission (SEC) has ordered the liquidation of Uniwide Holdings Inc and five other firms under the Uniwide group. In a 28-page decision on May 30, the corporate regulator said its en banc denied the Urgent ...

Andrew Tan to fold property businesses into Megaworld
interaksyon.com - 2013-06-21
In a disclosure to the Philippine Stock Exchange, Megaworld said it subscribed on Friday to 2.5 billion common shares of Global-Estate Resorts Inc (GERI) worth P5.65 billion and 1.2 billion common shares of Empire East Land Holdings Inc (ELI) valued at P1 ...

SEC orders dissolution of Uniwide firms
Inquirer - 2013-06-20
Uniwide Sales Inc., Uniwide Holdings Inc., Naic Resources & Development Corp., Uniwide Sales Realty and Resource Corp., First Paragon Corp. and Uniwide Sales Warehouse Club Inc. The order reaffirmed a decision of the SEC hearing panel in 2009 to terminate ...

Stock market, peso slump after US Fed signals end to economic stimulus
interaksyon.com - 2013-06-20
Actively traded stocks were SM Investments, SM Prime, Ayala Corp, Ayala Land and PLDT. Top gainers were Makati Finance, Asiabest Group and Seafront Resources, while the biggest losers were MJCI Investments, Highlands Prime and GMA Holdings. "The shockwaves ...

Stock market, peso slump after US Fed signals end to economic stimulus
interaksyon.com - 2013-06-20
Top gainers were Makati Finance, Asiabest Group and Seafront Resources, while the biggest losers were MJCI Investments, Highlands Prime and GMA Holdings. "The shockwaves from the Fed statement reverberated in the local market and Asia PAcific as a whole.

Stock market, peso slump after US Fed signals end to economic stimulus
interaksyon.com - 2013-06-20
Actively traded stocks were SM Investments, SM Prime, Ayala Corp, Ayala Land and PLDT. Top gainers were Makati Finance, Asiabest Group and Seafront Resources, while the biggest losers were MJCI Investments, Highlands Prime and GMA Holdings. "The shockwaves ...

SEC orders dissolution, liquidation of Uniwide
GMA Network - 2013-06-20
The Securities and Exchange Commission has ordered the dissolution and liquidation of Uniwide Holdings Inc., a listed company owned by businessman Jimmy Gow and five other companies under Uniwide Group of Companies. In a decision, SEC denied the Uniwide ...

NICKEL ASIA CORP.
Economic Times - 2013-06-19
In futures trading at the Multi Commodity Exchange, nickel for delivery in current month spurted Rs 3.90, or 0.56 per cent, to Rs 694.80 per kg, in a business turnover of 985 lots. At the MCX, crude palm oil for delivery this month rose by Rs 4.90, or 0.95 ...

NICKEL ASIA CORP.
Economic Times - 2013-06-19
The rival bid for Oncor was disclosed on Friday by Energy Future's biggest creditor, billionaire Paul Singer's hedge fund Elliott Management Corp. Zinc jumped as much as 5.8 per cent to $3,132.50 a ton on the London Metal Exchange. "The trick in ...

PNB may sell shares to boost capital
Rappler - 2013-06-19
PNB is the surviving entity in the February 9 merger with another Tan-controlled bank, Allied Banking Corp. PNB, now the country's fourth-largest private bank, has about 650 branches nationwide and total assets of more than P514 billion. - Rappler.com

SM Group invests $300 M in geothermal project
Philstar - 2013-06-19
MANILA, Philippines - APC Group Inc. expects to start commercial operations of a ... Other geothermal service contracts of APC Group are the Mainit-Sadanfa geothermal project and Buguias-Tinoc geothermal prospect in Kalinga and Benguet province, respectively.

Gokongwei retail arm plans P40-B IPO - report
Rappler - 2013-06-19
Other companies with pending IPO applications with the Securities and Exchange Commission this year include Travellers International Hotel Group Inc., Discovery World Corp., Harbor Star Shipping Services Inc, Hengda Group Holdings Corp., and A Finance Corp ...

APC Group shareholders approve quasi-reorganization
interaksyon.com - 2013-06-19
MANILA - Shareholders of APC Group Inc on Tuesday approved the company's plan to undertake a quasi-reorganization ahead of a possible plan to transform the company into the listed holding firm of Henry Sy Sr's energy-related assets. On the sidelines of the ...

Tiu unit pursuing P1-b IPO
Manila Standard Today - 2013-06-19
Discovery World Corp., the leisure development unit of the Tiu family, plans to hold a P1-billion initial public offering by the third quarter of the year. Informed sources said Discovery World was keen on holding the IPO despite the current stock market ...

DMCI eyes London delisting of mining unit
Rappler - 2013-06-18
In a disclosure to the stock exchange on Tuesday, June 18, DMCI Holdings said it will need to comply with the rule of the London Stock Exchange to gather the approval of 75% of unit Toledo Mining Corp Plc shareholders before it can delist. "With only 66.52 ...

Fight vs human trafficking goes to the movies
Philippine Daily Inquirer - 2013-06-18
MANILA, Philippines--The Department of Social Welfare and Development (DSWD) has intensified its campaign against human trafficking with the premiere airing of the infomercial "Iligtas Mo Ako" last Friday during a special screening of the movie "Man ...

Berjaya expands car dealership
Philstar - 2013-06-17
MANILA, Philippines - The local unit of Malaysian conglomerate Berjaya Corp. is expanding its car dealership business, this time investing in a British car distributor. Berjaya Philippines Inc. spent more than P540 million to buy a minority stake in a ...

Berjaya PH buys stake in Audi, BMW London distributor
Rappler - 2013-06-17
MANILA, Philippines - The franchisee of Mazda cars in the Philippines has acquired a 29.81% stake in a London-based luxury car distributor. Berjaya Philippines Inc, the local unit of Malaysian conglomerate Berjaya Corp. Bhd., acquired 7.04 million ordinary ...

PSEi inch up as investors await direction from US Fed
interaksyon.com - 2013-06-17
Actively traded stocks were Alliance Global, BDO, LT Group, PLDT and SM Investments. Top gainers were Mabuhay Vinyl, Cyber Bay and Filipino Fund, while the biggest losers were Seacem, F&J Prince and Federal Resources. "It's bargain-hunting. We expect the ...

MVP: Convergence is the way to go
Rappler - 2013-06-16
MANILA, Philippines - Hot on the heels of the ABS-CBN Corp. and Globe Telecom Inc. convergence partnership, Philippine Long Distance Telephone Co. (PLDT) Chairman Manuel V. Pangilinan said his group is working toward the same deal. "We have already ...

Admiral Baysuites holds topping off ceremony
Philstar - 2013-06-15
MANILA, Philippines - Admiral Baysuites, the luxurious 53-storey development of PSE listed, high-end developer Anchor Land Holdings, Inc., had its topping off ceremony on June 7. The ceremony took place at the rooftop of the residential tower.

COCKTALES | Zobels partner with Marcos son-in-law to corner MRT-7 terminal
interaksyon.com - 2013-06-15
According to the grapevine, the future business district also adjoins the 236-hectare Colinas Verdes township project of the listed but thinly traded Araneta Properties, also controlled by the Marcos son-in-law. Araneta Properties had earlier signaled the ...

iRemit to venture into financial derivatives
Philstar - 2013-06-14
MANILA, Philippines - I-Remit Inc., a Filipino-owned global remittance firm, will venture into financial derivative activities as a safeguard against the impact of fluctuating foreign exchange rates, a company disclosure to the Philippine Stock Exchange ...

IFC rep resigns from BDO board
Rappler - 2013-06-14
"We wish to inform you that Ms. Farida Khambata, representative of the International Finance Corp (IFC) in the Board of BDO Unibank, Inc. has resigned as director of BDO due to her reassignment by the IFC," the bank informed the exchange on Friday ...

PCSO agrees to arbitration of dispute with supplier
Philippine Daily Inquirer - 2013-06-14
MANILA, Philippines--The state-owned Philippine Charity Sweepstakes Office has agreed to go into arbitration of its dispute with listed information technology solutions provider DFNN Inc. over a wireless lotto betting contract that was scrapped during the ...

PCSO agrees to arbitration of dispute with supplier
Philippine Daily Inquirer - 2013-06-14
MANILA, Philippines--The state-owned Philippine Charity Sweepstakes Office has agreed to go into arbitration of its dispute with listed information technology solutions provider DFNN Inc. over a wireless lotto betting contract that was scrapped during the ...

Empire East spending P4b
Manila Standard Today - 2013-06-13
Empire East Land Holdings Inc., a unit of Megaworld Corp., said it allotted P4 billion for capital expenditures this year, up from the P3 billion it spent a year ago. Empire East said in a filing with the stock exchange this years capital spending would ...

New water rates seen to take effect in July
Inquirer - 2013-06-13
New water rates may take effect as early as the third week of July once regulators wrap up the rate rebasing process this month, according to the Metropolitan Waterworks and Sewerage System. Emmanuel L. Caparas, acting chief regulator at the MWSS ...

San MiguelâEUR(TM)s new businesses growing
News Philippines Yahoo - 2013-06-12
San Miguel Pure Foods Company Incorporated, on the other hand, also registered record revenues for the year and made progress in differentiating its agro-industrial and value-added clusters to create better synergized business units. Cojuangco added that ...

As peso strengthens, I-Remit plans venture into derivatives business
interaksyon.com - 2013-06-12
MANILA - I-Remit Inc plans to venture into the financial derivatives business to cope with the peso's appreciation. In a disclosure to the Philippine Stock Exchange, the non-bank remittance company said its board approved the amendment of its primary ...

As peso strengthens, I-Remit plans venture into derivatives business
interaksyon.com - 2013-06-12
MANILA - I-Remit Inc plans to venture into the financial derivatives business to cope with the peso's appreciation. In a disclosure to the Philippine Stock Exchange, the non-bank remittance company said its board approved the amendment of its primary ...

Ex-govt officials, CJ keep San Miguel board seats
Rappler - 2013-06-11
Teves, who served as the finance secretary under the Arroyo administration, is currently the chairman of Think Tank Inc. he is also part of the board of various companies, including Atok-Big Wedge Co., Inc. and Alphaland Balesin Island Club, Inc ...

2GO parent firm aims for five-fold profit growth this year
interaksyon.com - 2013-06-11
During the company's annual stockholders meeting Monday afternoon, 2GO Group Inc president Sulficio Tagud said its parent, Negros Navigation Co (Nenaco), has set its sights on growing net profit to P858 million this year from P181 million a year ago.

Lucio Tan 'seriously' considering PAL sale
Rappler - 2013-06-11
"We received an advise today that the group of Dr. Lucio Tan was approached by investors interested to acquire its 51% stake in PAL Holdings, Inc. and Philippine Airlines, Inc. The Lucio Tan group is seriously looking into the proposal," San Miguel said in ...

Appellate court backs ruling on Exportbank
Manila Standard Today - 2013-06-10
The Court of Appeals ruled there was no grave abuse of discretion on the part of the Makati regional trial court Branch 146 when it denied the temporary restraining order sought by several shareholders for the rehabilitation of the closed Export and ...