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More companies close in on maiden share sale

COCONUT PRODUCTS manufacturer Axelum Resources Corp. and home improvement retailer AllHome Corp. are one step closer to launching their market debuts after securing clearance from the Securities and Exchange Commission for their initial public offering (IPO).

TIHGI aims to delist by October

TRAVELLERS International Hotel Group, Inc. (TIHGI) targets to delist from the local bourse by October, after starting a tender offer for up to P8.71 billion worth of shares on Monday.

PSEi recovers as investors pick up shares at close

SHARES recovered on Monday as investors bought shares at the close, even as market sentiment remained cautious due to tensions abroad.

Property firms report higher Q2 earnings

PROPERTY developers generated mostly higher earnings in the second quarter of 2019 due to strong sales and leasing revenues, as well as lower project costs.

DMCI Homes reservation sales hit P20 billion

DMCI Project Developers, Inc. generated P20.1 billion in reservation sales during the first half of 2019, keeping the company on track to hit its P38-billion target for the year.

Geopolitical tensions seen affecting PHL shares

THE MAIN INDEX may decline in the week should foreign investors continue to dump their shares in the local bourse due to the negative sentiment from geopolitical tensions abroad.

PHL telcos seen to sustain revenue growth this year

FITCH Ratings expects the two major telco companies in the Philippines to book mid to high single-digit revenue growth for full year 2019, amid stabilizing competition between the two players.

12 arrested for investment scams

THE Securities and Exchange Commission (SEC), together with the National Bureau of Investigation (NBI), has arrested 12 people who are allegedly involved in investment scams.

Ayala unit launches P16-B One Vertis Plaza

THE luxury residential unit of Ayala Land, Inc. (ALI) is venturing into its first office-for-sale project with the launch of the P16.1-billion One Vertis Plaza in Quezon City.

Local stocks continue slump

THE main index continued its descent for the second day on the back of lingering fears of an looming recession in the United States.

GT Capital Q2 income up as auto sales rise

GT Capital Holdings, Inc.’s attributable profit grew 15% in the April to June period, on the back of higher revenues from its auto unit and increased contributions from its associates.

Megaworld eyes P12 billion in sales from Pasig residential condominium

MEGAWORLD Corp. is aiming to generate P12 billion in sales from three residential towers in its Arcovia City township in Pasig City.

Filinvest Dev’t earnings dip in 2nd quarter as costs climb

FILINVEST Development Corp. (FDC) saw a slight decline in its attributable profit for the second quarter, as higher costs outpaced the single-digit increase in revenues.

Travellers sets tender offer at P5.50 per share

TRAVELLERS International Hotel Group, Inc. (TIHGI) has priced the tender offer for its voluntary delisting process at P5.50 per share, less than half the offer price when it debuted at the stock market about six years ago.

Cebu Landmasters books P256-million profit in Q2

CEBU Landmasters, Inc. (CLI) booked a 6% decline in attributable profit for the second quarter of 2019, as most of the projects completed for the period were part of joint ventures.

PSE index slips as US Treasury yields decline

LOCAL EQUITIES slipped Thursday as fears of a recession in the United States plagued sentiment both locally and overseas.

DMCI income falls in 2nd quarter

EARNINGS of DMCI Holdings, Inc. fell by a fifth in the second quarter of 2019, weighed down by lower coal prices and higher replacement power costs.

Ayala group profit surges to P38B in six months

EARNINGS of Ayala Corp. (AC) more than doubled in the first half of 2019, boosted by divestment gains from its education and energy businesses.

Travellers International Q2 income declines

THE owner and operator of Resorts World Manila (RWM) posted a 52% drop in attributable profit for the second quarter of 2019, weighed down by higher borrowing costs.

Cosco Capital’s earnings get a boost from Liquigaz sale

COSCO Capital, Inc. registered a 273% increase in attributable profit for the first half of 2019, boosted by sale of its liquefied petroleum gas (LPG) business.

Affordable housing business lifts Century Properties’ bottom line

CENTURY Properties Group, Inc. (CPG) saw its attributable profit surge by 108% in the second quarter of 2019, driven by higher contribution from its affordable housing segment.

LT Group nets P9.2 billion in first 6 months of 2019

LT GROUP, Inc.’s (LTG) attributable profit rose by 3% in the first half of 2019, driven by higher earnings from its tobacco business.

Megaworld plans to issue P10 billion worth of shares to existing...

MEGAWORLD Corp. will be issuing P10.376 billion worth of shares to existing investors, it told the stock exchange Tuesday.

PHL stocks decline as HK protests dent sentiment

LOCAL SHARES fell on Tuesday as heightened protests in Hong Kong dragged already negative sentiment due to the US-China trade war.

SEC eases up on timetable for MPO hike

THE Securities And Exchange Commission (SEC) has tweaked its plan to increase listed firms’ minimum public ownership (MPO) by raising the range while allowing them to propose their own timetable to hit the steeper requirement by a government deadline.

Property firms bullish on demand despite POGO uncertainty

PROPERTY developers remain optimistic about demand for office space despite China’s crackdown on Philippine offshore gaming operators (POGOs), citing limited exposure to such tenants.

Recent BSP rate cut seen to provide market lift

LOCAL SHARES may rebound in the days ahead as investors continue to digest the central bank’s most recent interest rate cut.

SEC eyes release of new REIT rules by September

THE Securities and Exchange Commission (SEC) targets to release the final guidelines for real estate investment trusts (REIT) by September, while remaining optimistic that the first such product will be launched within the year.

Kepwealth raises P385 million in initial public offering

KEPWEALTH Property Phils, Inc. (KPPI) raised P384.77 million during its initial public offering (IPO), after its offer period ended last Friday.

US-China tensions, GDP data dampen sentiment

LOCAL SHARES fell last week, as a combination of tensions from the US-China trade war, weak economic growth data, and the MSCI rebalancing took a toll on investor sentiment.

San Miguel 1st half income drops 5%

DIVERSIFIED conglomerate San Miguel Corp. (SMC) recorded a 5% profit decline for the first half of 2019, which was attributed to flat sales and the slow performance of Petron Corp.

Bloomberry earnings hit P2.5B in Q2 on higher revenues from VIPs

BLOOMBERRY Resorts Corp. grew its attributable profit by half in the second quarter, thanks to a rise in gaming revenues from the high roller segment.

Wilcon Depot nets P511M in 2nd quarter

EARNINGS of Wilcon Depot, Inc. showed flat growth in the second quarter of 2019 due to the long holidays which affected the company’s number of operating days.

Emperador profit up 2% in 1st half

EMPERADOR, Inc. reported a net income attributable to the parent of P3.25 billion in the first half of 2019, following higher sales from its international business.

China to crack down on gambling, POGO exploitation

CHINA signaled a crackdown on cross-border gambling after alleging that many its nationals working in the Philippine offshore gaming industry were recruited illegally.

PSE index inches down on slower Q2 GDP growth

By Arra B. Francia, Senior Reporter THE MAIN INDEX ended slightly lower on Thursday following slower gross domestic product (GDP) expansion in the second quarter. The...

SM Investments nets P23 billion in 1st 6 months

SM INVESTMENTS Corp. (SMIC) delivered a 27% increase in earnings for the first half of 2019, on the back of its banking unit’s strong performance and higher sales from the residential business.

Megaworld Q2 profit up on strong revenues

MEGAWORLD Corp.’s attributable profit jumped 15% to P4.5 billion in the April to June period of 2019, driven by the growth of its residential, commercial, and hotel businesses.

After ‘weak’ Q2, DNL expects lower earnings this year

LISTED chemicals and plastics manufacturer D&L Industries, Inc. (DNL) may book a two percent decline in earnings for full year 2019, following a slowdown in sales volume seen during the first semester.

SMFB’s consolidated income falls 5% as costs rise

SAN MIGUEL Food and Beverage, Inc. (SMFB) saw its consolidated earnings drop by 5% in the first six months of the year, weighed down by higher costs amid a double-digit increase in revenues.

New stores drive Metro Retail’s Q2 profit higher

EARNINGS of Metro Retail Stores Group, Inc. (MRSGI) surged by 54% in the second quarter of 2019, thanks to the opening of new stores and the re-opening of its flagship store in Cebu following a fire last year.

Stocks rebound ahead of BSP meeting, GDP data

LOCAL EQUITIES bounced back on Wednesday, taking cues from the recovery of world markets as well as the series of economic data to be released on Thursday.

Eagle Cement Q2 earnings jump 39% to P1.7B

EARNINGS of Eagle Cement Corp. rose 39% to P1.7 billion in the second quarter of 2019, thanks to higher volumes sold complemented by an increase in selling prices.

Tourism estate developer’s income drops in Q2

GLOBAL-ESTATE Resorts, Inc. (GERI) delivered a five percent decline in attributable profit amid double-digit growth in revenues for the second quarter of the year.

Market liquidity seen key to REIT success

PROPERTY analysts and industry participants said the key for the success of real estate investment trusts (REITs) will be liquidity, with office assets expected to be the most suitable product for these investment instruments.