CHI to re-develop eOffice facility into shopping mall
philstar.com - 2013-05-01
CEBU, Philippines - Publicly-listed Cebu Holdings Inc., (CHI) announced its plan to build a shopping mall at the 24-hectare Cebu IT Park to accommodate the growing traffic for entertainment and shopping at the cyberpark. CHI president Francis O.

Lucio Co-led Cosco looking to raise P12-B for expansion
Rappler - 2013-05-01
MANILA, Philippines - Cosco Capital Corp., the holding firm for businessman Lucio Co's assets, announced that it requires P12 billion to fund the expansion of its liquor, property, and oil storage businesses, as well as its diversification into non-food ...

Lucio Co holding firm allots P12-billion capex, as 1Q earnings grow fourfold
interaksyon.com - 2013-05-01
In a regulatory filing, Alcorn Gold Resources Inc -- to be renamed Cosco Capital Inc -- said it will need P6 billion to expand its real estate portfolio, including investments in Puregold Price Club Inc-anchored properties, distribution centers and oil ...

Ex-Export Bank owner restructures, eyes new investor
Manila Standard Today - 2013-04-30
Medco Holdings Inc., a holding company owned by the Lippo Group of Indonesia, said Monday it would undergo a capital restructuring plan in preparation for the possible entry of a new investor. Medco said in a filing with the Philippine Stock Exchange it ...

Swift Foods CEO resigns
marketing-interactive.com - 2013-04-30
Luis Bernardo Concepcion, chief executive officer of Swift Foods, Inc., has resigned due to "personal reasons," the processed meat manufacturer announced in a disclosure yesterday. Concepcion will leave his post effective on 31 May after working with ...

Brillantes denies contract padding
Rappler - 2013-04-29
MANILA, Philippines - Poll chief Sixto Brillantes Jr on Monday, April 29, defended the allegedly anomalous contract for the deployment ... Brillantes said losing bidders - 2Go and Argo International Forwarders Inc - should have initiated the ...

Metrobank 1st foreign bank in Quanzhou
Philstar - 2013-04-29
Speaker Feliciano "Sonny" Belmonte Jr., civic leader and Metrobank Foundation trustee wife Milagros G. Drilon, Chinese Ambassador to the Philippines Ma Keqing, Philippine Consul General to Xiamen Adelio Angelito S. Cruz, former Chief Justice Artemio ...

PDIC to file for liquidation of ExportBank next month
interaksyon.com - 2013-04-29
MANILA - The Philippine Deposit Insurance Corp (PDIC) on Monday said it would begin liquidation of Export and Industry Bank (EIB) next month, warning that the proceeds of the asset sale may not be enough to pay for the uninsured depositors of the shuttered ...

Ayala, Gaisano sign deal to develop Cebu property
Rappler - 2013-04-29
"The property to be developed is close to many ... Inc., Vicsal Securities and Stock Brokerage, Filipino Fund, WealthBank, Prime Asia and Grand Holidays and the Metro Gaisano department store chain. "Through this joint venture the Vicsal group, Ayala ...

Enough of the ugly Barretto clan squabble
Inquirer Entertainment - 2013-04-29
"We were never introduced formally so I was surprised when he came up to me and said that we used to be schoolmates at Philippine Christian University and I am one of his favorite actresses of all time. I remember having read in one of his magazine ...

Ayala Land, Gaisanos tie up in Cebu project
Manila Standard Today - 2013-04-29
Ayala Land Inc., a unit of conglomerate Ayala Corp., has signed a joint venture agreement with the Gaisano family to develop a 12-hectare property in Mactan, Cebu. Ayala Land said in a statement posted on its Web site over the weekend it tied up with Taft ...

Ayala Land eyes assets of Puerto Azul, Fridays Boracay operator
Rappler - 2013-04-26
MANILA, Philippines - Ayala Land, Inc. is looking to acquire assets from Boulevard Holdings, Inc. (BHI), which owns the Fridays Hotel brand and operates the Puerto Azul complex in Cavite. In a disclosure to the PSE on Friday, April 26, BHI said that Ayala ...

Ayala Land eyes assets of Puerto Azul, Fridays Boracay operator
Rappler - 2013-04-26
MANILA, Philippines - Ayala Land, Inc. is looking to acquire assets from Boulevard Holdings, Inc. (BHI), which owns the Fridays Hotel brand and operates the Puerto Azul complex in Cavite. In a disclosure to the PSE on Friday, April 26, BHI said that Ayala ...

Trans-Asia signs up part of Bakun hydropower plant output
interaksyon.com - 2013-04-26
In separate disclosures to the Philippine Stock Exchange, Trans-Asia and Vivant Corp said Vivant-Sta. Clara Northern Renewables Corp (Northern Renewables) signed an agreement for the purchase of 15 megawatts of electricity from the Bakun plant. The supply ...

Cirteks revenues climb 9% to $10m
Manila Standard Today - 2013-04-25
Laguna-based semiconductor manufacturer Cirtek Holdings Philippines Corp. said net sales in the first quarter grew 9 percent from a year ago. Consolidated revenues in the January-March period reached $10.1 million, compared with $9.3 million in the same ...

SMDC allocates P71b for capital expenditures until 2015
Manila Standard Today - 2013-04-25
SM Development Corp., the property unit of conglomerate SM Investments Corp., allotted P71 billion for capital expenditures in 2013 and the next two years to drive the companys expansion, its new president said Wednesday. Newly appointed SMDC president ...

ABS-CBN eyes P1 B from political ads
philstar.com - 2013-04-24
MANILA, Philippines - Publicly listed ABS-CBN Corp. of the Lopez family expects P1 billion in windfall revenues from political advocacies and advertisements for the upcoming May elections. Rolando Valdueza, chief financial officer of ABS-CBN, said in a ...

National Book Store opening up to 15 stores in 2013
Rappler - 2013-04-24
Ramos' family owns National Bookstore, Atlas Mining and Anglo Philippine Holdings. Ramos said that the next major NBS opening is in May. The company will launch a new branch in SM Aura in Taguig City. Ramos added NBS would also set up stores in other malls.

Melco Crown raises $377-M for casino project
Rappler - 2013-04-24
MANILA, Philippines - Melco Crown (Resorts ... Melco, in partnership with Sy-led Belle Corp., is building Belle Grande Manila, which will open in the Entertainment City next year. The casino resort will have more than 250,000 square meters of gross ...

Student Catholic Action movement gets new council leaders
cbcpnews.com - 2013-04-24
On April 21, the following council members were elected: Philippine Normal University (PNU) as Chairperson, De La Salle University (DLSU) as Vice Chairperson, College of the Holy Spirit Manila (CHSM) as Secretary, San Beda College (SBC) as Treasurer ...

URC Builds $35-M Ethanol Plant
News Philippines Yahoo - 2013-04-23
Universal Robina Corp. (URC) recently broke ground for its $35-million ... Central in Iloilo and Cagayan Robina Sugar Milling Company in Cagayan Valley. The ethanol plant in Manjuyod is its first. Cabati assured the public that the plant is adopting ...

Willie Revillame not returning to ABS-CBN
Rappler - 2013-04-23
MANILA, Philippines - The top executive of leading media company ABS-CBN Corp. denied that TV host Willlie Revillame ... "We're not in talks with Willie Revillame...The rumor of his return to ABS is not true," she said. "We're very happy with '[It's ...

ABS-CBN: Lifting of Comelec airtime limits has no impact
Rappler - 2013-04-23
MANILA, Philippines - The Supreme Court decision stopping the implementation of the Commission on Elections' (Comelec) airtime limits on political advertisements has not affected ABS-CBN Corp.'s ad revenues, said the company's chairman. Speaking in a ...

Lopez Holdings subscribes to PDRs of unlisted Lopez Inc.
Inquirer - 2013-04-23
MANILA, Philippines--Listed Lopez Holdings Corp., the media and power holding arm of the Lopez clan, has subscribed to the Philippine Deposit Receipts of unlisted parent Lopez Inc., a Philippine Stock Exchange filing on Monday showed. The transaction will ...

Pacific Online 'not yet affected' by PCSO-PGMC dispute
Rappler - 2013-04-23
MANILA, Philippines - Pacific Online Systems Corp. is not yet affected by the dispute between Philippine Gaming and Management Corp. (PGMC) and the Philippine Charity Sweepstakes Office (PCSO) over which company has the right to operate and lease online ...

Cebu Holdings sets aside P3.4B for Cebu projects
Philippine Daily Inquirer - 2013-04-22
Cebu Property Ventures and Development Corporation, a subsidiary of CHI, is now planning a new commercial component on a five-hectare area in Cebu IT Park. "This will be located in that area where our eOffice is located and that lot on the other side of ...

Gov't revises 2013 mining targets
Rappler - 2013-04-22
This already surpassed the revised expectations of $509.24 million for 2013. Jasareno said he expects mining projects -- such as the Toledo Copper Project of Atlas Consolidated Mining and Development Corp., Surigao Sumitomo HPAL project, Tampakan copper ...

Sy Group to consolidate energy units into one firm
Philstar - 2013-04-22
MANILA, Philippines - APC Group Inc. expects to complete its restructuring plan this year, setting the stage for its transformation into an entity that will possibly hold all the energy-related assets of the family of tycoon Henry Sy Sr. Informed sources ...

PSEi pushes past 7,000 level
interaksyon.com - 2013-04-22
Actively traded stocks were LT Group, SM Investments, PLDT, BDO and Ayala Corp. Top gainers were Phinma, Touch Solutions and APC, while the biggest losers were Highlands Prime, ATN Holdings and Mabuhay Holdings. "[This is because of] positive momentum from ...

Filinvest banking unit eyes 25% jump in 2013 earnings
Rappler - 2013-04-22
MANILA, Philippines - Eastwest Banking Corp., a unit of Gotianun-led Filinvest Development Corp., expects steady growth in earnings in 2013. In a disclosure to the Philippine Stock Exchange on Monday, April 22, the bank forecast its net income to grow 25% ...

Phinma Properties plans increase in land bank ahead of IPO
interaksyon.com - 2013-04-21
MANILA - Phinma Property Holdings Corp is beefing up its land bank this year ahead of its planned initial public offering (IPO). Willie Uy, Phinma Properties president, told InterAksyon.com that the company is acquiring properties in Mindanao and Metro ...

Nihao reports higher 2012 net income
Philstar - 2013-04-20
MANILA, Philippines - Listed miner Nihao Mineral Resources International, Inc. save its income rise year-on-year in 2012 as it commences commercial operations at its serviced nickel mine in Isabela. In a filing with the Philippine Stock Exchange ...

Ocean park operator eyes Cebu expansion
Philstar - 2013-04-20
CEBU, Philippines - The operator of Manila Ocean Park Complex and Hotel H2O in Manila, H2O Ventures Inc., is looking at Cebu as one of its target destinations for nationwide expansion in the Philippines, taking advantage of the promising tourism sector in ...

RLC building P30-b business park
Manila Standard Today - 2013-04-20
Robinsons Land Corp., the property unit of retail tycoon John Gokongwei ... Robinsons Land last year acquired the two-hectare property of Republic Glass Holdings Inc. in Libis. We we are planning a major business park along C-5 in Libis.

Nickel Miner Nihao says 2012 net income more than doubled from 2011
GMA Network - 2013-04-19
... and share sale in another miner helped boost the 2012 income of listed Nihao Mineral Resources International Inc., the company said Friday. Net income more than doubled to P24.15 million in 2012 against P10.74 million in 2011, nickel miner Nihao ...

Robinsons Land plans township project in QC
interaksyon.com - 2013-04-19
Last year, RLC acquired a two-hectare property in Libis, Quezon City from Republic Glass Holdings Corp. Go said RLC is keeping a conservative stance on the residential segment, but has rolled out new projects valued at P8 billion under its Robinsons ...

Govt clears reopening of Semirara coal mine
Rappler - 2013-04-19
MANILA, Philippines - The Department of Energy (DOE) has given full clearance to Semirara Mining Corp. to proceed with coal production in its North Panian mine. The Caluya Antique mine, which was the site of a February 14 landslide that killed 5 people ...

Philex Petroleum cuts losses by 47% in Q1
Rappler - 2013-04-19
MANILA, Philippines - Manuel Pangilinan-led Philex Petroleum Corp. reduced its net loss in the 1st quarter of 2013 by 47% to P24.5 million from P46.2 million during the same period last year. In a disclosure to the stock exchange on Friday, April 19, the ...

PSEi returns above 6,900 to hit fresh record
interaksyon.com - 2013-04-19
Actively traded stocks were LT Group, SM Investments, BDO, BPI and PLDT. Top gainers were Mabuhay Vinyl, Millenium Global and ATN Holdings, while the biggest losers were Euro-Med, Starmalls and Prime Media. "It is earnings related. BDO announced a very ...

'Practice what you preach'
Philstar - 2013-04-19
Talk is rife among the casino crowd that Azure will fold in its casino hotel complex into listed Mabuhay Holdings Corp. MHC is affiliated with the Allied Kajima Co., which happens to be one of the largest construction companies in Japan. Email ...

PSBank, Citi PH announce new leaders
Rappler - 2013-04-18
MANILA, Philippines - Two banks -- Philippine Savings Bank (PSBank) and the Philippine unit of Citibank -- announced changes at the top. Philippine Savings Bank (PSBank), the thrift bank arm of tycoon George Ty's Metrobank, has appointed Vicente Cuna ...

Fast Facts: Business empire of Andrew L. Tan
Inquirer - 2013-04-18
MANILA, Philippines--Andrew Tan is the chief executive officer of Alliance Global Group Inc., a holdings company that has interests in food and beverage, real estate and gaming. He founded Megaworld Corp. in 1989 and has been its CEO and president since ...

National Book Store gears up for backdoor listing
Rappler - 2013-04-18
MANILA, Philippines - National Book Store Inc. (NBS), the country's largest bookseller, is taking over publicly traded Vulcan Industrial & Mining Corp., paving the way for its backdoor listing ... Development Corp., and Anglo Philippine Holdings.

1 killed in another mining accident in Benguet
Philstar - 2013-04-18
Their surviving co-workers reported the incident to the Safety Department of the Benguet Corporation, which immediately launched rescue and retrieval operations. The victims were brought to the Baguio General Hospital and Medical where Dalasen was declared ...

BSP approves Exportbank liquidation
Philstar - 2013-04-17
MANILA, Philippines - The central bank has given its go-signal to the planned liquidation of the shuttered Export and Industry Bank (Exportbank), following two failed auctions, the Philippine Deposit Insurance Corp. (PDIC) said yesterday. "The PDIC has ...

Regulators order liquidation of EIB
Manila Standard Today - 2013-04-17
The Monetary Board, the policy-making body of the Bangko Sentral, has ordered the liquidation of the shuttered Export and Industry Bank. State-owned Philippine Deposit Insurance Corp. said Tuesday it received the order from the Monetary Board to proceed ...

STI signs deal to acquire West Negros University in Bacolod
Manila Standard Today - 2013-04-17
STI Education Systems Holdings Inc. said Tuesday it signed an agreement to acquire a controlling stake in West Negros University in Bacolod City. WNU is owned by the Agustin family. STI said in a disclosure to the stock exchange the purchase of WNU was in ...

STI to acquire West Negros University
interaksyon.com - 2013-04-16
MANILA - STI Education Systems Holdings Inc will acquire West Negros University in Bacolod City. In a disclosure to the Philippine Stock Exchange, the Eusebio Tanco-led education network said it executed a memorandum of agreement with the Agustin family ...

Why 2012 was challenging for Metrobank
Rappler - 2013-04-16
MANILA, Philippines - Amidst a relatively stable macro-economic background, 2012 was nonetheless a challenging year for the banking industry, said Fabian Dee, president of Metrobank, the country's second largest. "Banks had to cope with a low interest ...

Ayala, Trans-Asia expanding thermal plant in Batangas
Philstar - 2013-04-16
MANILA, Philippines - Ayala Corp. and Trans-Asia Oil and Energy Development Corp. are expanding their 135-megawatt thermal power plant in Calaca, Batangas, Ayala said in a disclosure to the Philippine Stock Exchange (PSE) yesterday. The companies ...