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Fruitas banks on consumer familiarity for IPO success

FRUITAS Holdings, Inc. is unfazed by the number of companies going public at the same time as its initial public offering (IPO), confident that Filipino consumers’ familiarity with its products will translate into IPO success.

Waterfront to continue fighting SSS in 20-year-old claim case

GATCHALIAN-LED Waterfront Philippines, Inc. (WPI) plans to appeal before the Supreme Court the P840-million claim of the Social Security System (SSS) against the company and two other units.

Bourse manages last-minute turnaroud to end flat

THE MAIN INDEX made a last-minute turnaround on Wednesday — on the eve of the Bangko Sentral ng Pilipinas (BSP) meeting where a 25-basis-point cut on benchmark interest rates is widely expected — after spending much of the day in the red as investment sentiment worldwide took a hit from the US House of Representatives move to start an impeachment inquiry against US President Donald Trump.

Marriott International bullish on local growth

MARRIOTT INTERNATIONAL, Inc. is bullish on the Philippines’ tourism industry as it looks to have over 5,000 rooms in the country by 2024.

Jollibee closes CBTL deal

HOMEGROWN food giant Jollibee Foods Corp. (JFC) has completed its $350-million acquisition of The Coffee Bean & Tea Leaf (CBTL), about two months after the deal was announced.

CPG eyes P2B from preferred shares

CENTURY PROPERTIES Group, Inc. (CPG) looks to raise up to P2 billion from the issuance of preferred shares, it said on Tuesday.

SMIC part of Forbes list

SM Investments Corp. (SMIC) made it to Forbes magazine’s annual list of the World’s Best Regarded Companies in 2019, which ranks firms based on trustworthiness and company performance.

InLife’s Aguas part of Forbes’ ‘Power Businesswomen’ list

INSULAR LIFE Assurance Co. Ltd. (InLife) Executive Chairman Nina D. Aguas is the lone Filipino to make it to the Asia’s Power Businesswomen list of Forbes Magazine.

Bourse caps five days of losses ahead of rate meet

LOCAL SHARES recovered slightly on Tuesday, as investors anticipated the Bangko Sentral ng Pilipinas’ (BSP) monetary policy decision this week.

SEC issues stop order vs 11 online lending apps

THE Securities and Exchange Commission (SEC) continues its crackdown against illegal lenders with the issuance of a cease and desist order (CDO) against 11 online lending applications.

Megaworld to spend P1.2B for Bacolod office towers

MEGAWORLD CORP. is spending P1.2 billion to develop two office towers in its Bacolod township as it continues to expand its leasable portfolio.

Holcim completes new facilities for Norzagaray plant

HOLCIM PHILIPPINES, Inc. has completed new storage and loading facilities in its Bulacan plant that will boost production moving forward.

Cebu Landmasters partners with AboitizLand to develop mixed-use condominium in Mandaue

CEBU Landmasters, Inc. (CLI) has partnered with the property arm of Aboitiz Equity Ventures, Inc. (AEV) for the development of a mixed-use condominium complex in Mandaue City.

Investors cautious amid lingering trade fears

THE MAIN INDEX barely moved, but with a negative bias, on Monday as investors stayed on the sidelines amid lingering concerns about the US-China trade war.

Cebu’s JDC plans expansion, looks for partners

CEBU-BASED property developer JEG Development Corp. (JDC) is boosting its presence in the Visayan capital with the launch of four projects in the following years, while also looking for more partnerships for the future.

PSE unit invests P200 million in new clearing system

A UNIT of the Philippine Stock Exchange, Inc. (PSE) is investing P200 million for a new clearing and settlement system.

Shares to rebound as market awaits BSP rate cut

SHARES MAY bounce back in the coming days after the main index sustained losses for most of last week, with investors’ eyes trained on the Bangko Sentral ng Pilipinas’ (BSP) policy decision and the passage of the 2020 national budget.

Phinma to invest $50 million into unit of Vietnamese cement firm

PHINMA CORP. is investing $50 million into a unit of Vietnamese cement manufacturer Vissai to finance the expansion of its cement plant.

Seedwork Philippines eyes propagation of premium rice in Davao

DAVAO CITY — Seedwork Philippines is pushing for the propagation of its premium rice variety in the Davao Region as a way for local farmers to increase their incomes as the Mindanao Development Authority (MinDA) looks to export these varieties.

Megaworld to spend P1.5B for Lapu-Lapu City mall

MEGAWORLD CORP. is pouring P1.5 billion for the development of a new mall inside its Mactan Newtown estate in Lapu-Lapu City, Cebu.

Bourse ends flat with no surprises from the Fed

THE MAIN INDEX closed largely unchanged on Thursday as investors had already factored in the Federal Reserve’s rate cut in previous sessions.

Strong liquidity to drive demand for new listings

ANALYSTS are positive the market can absorb the torrent of companies seeking to go public this year, thanks to the low interest rate environment and strong appetite from local investors.

AGI to launch P2.5-billion share buyback program

ALLIANCE GLOBAL Group, Inc. (AGI) is embarking on a P2.5-billion share buyback program for the next 12 months.

Cebu Landmasters to spend P2.4B for two Bacolod residential projects

CEBU Landmasters, Inc. (CLI) is spending about P2.4 billion to expand its footprint in Bacolod City with the launch of two residential projects and the construction of a serviced apartment in the area.

Philab asks for OSG intervention in case vs DepEd

PHILAB Holdings Corp. has asked the Office of the Solicitor General (OSG) to step in its case with the Department of Education (DepEd) for its failure to pay the company P2.44 billion.

Bourse extends losses as mart awaits Fed move

LOCAL EQUITIES slumped on Wednesday as investors stayed on the sidelines ahead of the Federal Reserve’s policy decision due to be released early Thursday, Philippine time.

ALP’s first QC project seen fetching over P26B in sales

AYALA LAND Premier (ALP) has ventured into its first project in Quezon City with a two-tower residential condominium seen to fetch over P26 billion in sales.

Shares yield to fear over Saudi attack’s impact

LOCAL SHARES fell on Tuesday, as the attack on key Saudi oil facilities last Saturday is now expected to prod Philippine inflation through higher oil prices.

POGOs now top property demand driver

PHILIPPINE Offshore Gaming Operators (POGOs) have displaced the information technology-business process management (IT-BPM) sector as the single biggest source of demand for office space in the country, real estate service firm Leechiu Property Consultants (LPC) reported on Monday.

Axelum lowers maximum offer price for IPO to attract investors

COCONUT PRODUCTS manufacturer Axelum Resources Corp. reduced the maximum offer price for its initial public offering (IPO) to P5.72 per share, in a bid to attract more investors.

Bargain hunt fuels last-minute rebound to flat end

THE MAIN INDEX managed to stage a last-minute rebound on Monday due to bargain hunting, ending nearly flat from Friday.

Megaworld to spend P18 billion in next 15 years to develop...

MEGAWORLD Corp. is investing P18 billion in the next 15 years for the development of a new township in Cavite along with leisure and tourism estate unit Global-Estate Resorts, Inc. (GERI).

SEC warns public anew versus Kapa

THE SECURITIES and Exchange Commission (SEC) warned investors anew to avoid dealing with Kapa-Community Ministry International in the face of its alleged revival under a new name.

How China is using energy and tech to boost influence

BANGKOK, THAILAND -- Scholars and journalists highlighted China’s efforts to strengthen its presence in energy and technology projects in several countries, as part of the world’s second largest economy’s hegemonic strategy.

BSP rate cut signals could provide initial lift

SHARE PRICES could rise this week as investors react to the Bangko Sentral ng Pilipinas’ (BSP) hint of more cuts in interest rates.

Phoenix inks offtake deal with Hengyi

PHOENIX Petroleum Philippines, Inc. is teaming up with Singapore-based Hengyi Industries International Pte. Ltd. (HYII) for a liquefied petroleum gas (LPG) offtake venture in Brunei.

Ayala to re-issue up to P15B in preferred shares

AYALA Corp. (AC) plans to re-issue up to P15 billion worth of preferred class B shares, it told the stock exchange Friday.

PSEi firms up on easing US-China trade tensions

LOCAL SHARES firmed up on Friday, taking cues from Wall Street which was boosted by easing trade tensions between the the United States and China.

Ayala, SMC units bag Meralco supply contracts

MANILA Electric Co. (Meralco) has awarded power supply agreements (PSA) covering 1,200 megawatts (MW) to units of San Miguel Corp. (SMC) and Ayala’s AC Energy, Inc.

Filinvest Land expands project in Pampanga

FILINVEST Land, Inc. (FLI) has broken ground for the second phase of its Hampton Orchards project in Pampanga.

Cebu Landmasters acquires resort in Mactan

CEBU Landmasters, Inc. (CLI) will be redeveloping the Abaca Resort Mactan in Cebu as part of efforts to expand its hospitality business.

SMC to consolidate packaging business under SMYPC

SAN MIGUEL Corp. (SMC) is consolidating its packaging businesses under San Miguel Yamamura Packaging Corp. (SMYPC).

Shares drop on profit-taking amid lack of leads

STOCKS DROPPED on Thursday as investors chose to take profit amid the lack of catalysts, even as most markets abroad rallied on easing trade tensions between the United States and China.

SM to open new mall in Olongapo

SM PRIME Holdings, Inc. will be opening a new mall in Olongapo City this Friday as it continues its provincial expansion.

SEC warns public vs investment schemes

THE SECURITIES and Exchange Commission (SEC) is advising the public to exercise caution against several companies that have been illegally soliciting investments.