Here’s a quick glance at how PSEi stocks fared on Friday, February 28, 2020.  

SM INVESTMENTS Corp. posted a 20% rise in net income last year to P44.6 billion as its business segments performed strongly to boost revenues, the Sy-led company told the stock exchange on Friday.

BELLE Corp. reported a 9.6% decrease in consolidated net income last year to P2.92 billion as the company recorded a double-digit fall in revenues with the impact of small-town lottery operations on its business of leasing online betting equipment.

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) has refuted the claim of San Miguel Corp. (SMC) that it has not been billed by the agency for a subsidiary’s supposed P23.94 billion payables, saying it has proof showing receipt of demand letters.

PHILEX Mining Corp. posted P647.79 million net loss attributable to equity holders of the parent firm in 2019, reversing the earlier year’s income of P608.46 million, the copper and gold producer’s financial report to the stock exchange shows.

MANILA WATER Co., Inc. posted a 16% decrease in 2019 net income to P5.5 billion, saying its performance was dampened by the impact of a regulatory penalty, a one-time bill waiver, and higher expenses caused by the water shortage in the first half.

ANGELES CITY, Pampanga—Philippines AirAsia, Inc. will be launching two new domestic routes this year to further boost domestic tourism amid the coronavirus outbreak that has dampened its revenues in the first two months of the year.

FLAG CARRIER Philippine Airlines (PAL) announced on Friday that it has cut about 300 jobs as a way to recover from its 2019 losses, which worsened in the first two months of 2020 due to the coronavirus outbreak.

ILOILO CITY — Razon-led MORE Electric and Power Corp. (MORE Power) started taking over the distribution assets of Panay Electric Co., Inc. (PECO) in Iloilo City Friday following a local court order granting its petition for a writ of possession.

HOUSE SPEAKER Alan Peter S. Cayetano said he would meet with the House committee chair on legislative franchises, Rep. Franz E. Alvarez, on Monday or Tuesday to determine whether the lower chamber should have an “administrative hearing” on ABS-CBN Corp.’s franchise issue.

ABS-CBN Corp. will follow President Rodrigo R. Duterte’s advice to just donate the P2.6-million refund that he declined to accept to a charitable institution.

THE Securities and Exchange Commission (SEC) has flagged another illegal investing group that is luring the public by offering weekly allowances and an insurance coverage.