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General Santos court denies Kapa-Community’s TRO petition

A GENERAL SANTOS City court has denied religious organization Kapa-Community Ministry International, Inc.’s petition for a temporary restraining order (TRO) against the investment advisories and cease and desist order (CDO) issued by the Securities and Exchange Commission (SEC).

PSE index declines on net selling, lack of drivers

THE MAIN INDEX moved further down the 7,700 level yesterday amid a lack of fresh catalysts that could boost investor sentiment.

DMCI Holdings sets P31-billion capex this year

DMCI Holdings, Inc. is ramping up its capital expenditures (capex) to P31 billion this year, as it looks to support its property unit’s aggressive expansion in the following years.

MPIC logistics unit aims to break even this year

THE logistics unit of Metro Pacific Investments Corp. (MPIC) hopes to break even this year, as it continues its expansion to become a leading player in the country.

Stocks seen sideways as markets turn cautious

LOCAL EQUITIES are seen to trade sideways in the week ahead as investors turn cautious on the supposed slowdown of the global economy, alongside lingering concerns on the trade war between the United States and China.

Aboitiz Equity Ventures books P22-B profit in 2018

ABOITIZ Equity Ventures, Inc. (AEV) saw its consolidated profit rise by three percent in 2018, as its weaker performance in the fourth quarter tempered its full-year results.

DMCI Holdings profit dips in 2018

DMCI Holdings, Inc.’s consolidated net income slid by two percent in 2018, weighed down by its coal mining unit’s prolonged plant shutdown despite the better performance of other business units.

Marubeni-Consunji tandem bags LRT-2 East E&M contract

THE consortium of Japanese firm Marubeni Corp. and engineering and construction firm D.M. Consunji, Inc. secured the $62-million (about P3.24-billion) contract for the Manila Light Rail Transit (LRT) Line 2 East Extension project.

Del Monte Pacific returns to profit in Q3

DEL MONTE Pacific Limited (DMPL) swung back to profitability in the third quarter ending January, even as sales slipped in the same period.

PSEi drops amid fears of global economic slowdown

SHARES retreated on Friday, tracking the sell-off overseas on the back of fears of the global economic growth slowdown.

Ayala to keep capital spending steady this year

AYALA CORP. (AC) is keeping its capital spending steady this year, while keeping a “fairly positive” outlook about the group’s businesses moving forward.

Megaworld eyes P18-billion sales from two condos

MEGAWORLD CORP. expects two new residential condominiums within its Parañaque City township to generate P18 billion in sales.

SM Prime readies P10-billion bond issuance

SM PRIME Holdings, Inc. plans to issue P10 billion worth of bonds this year, which were given the highest rating by a local debt watcher.

Aboitiz Equity to issue retail bonds within 1st half

ABOITIZ Equity Ventures, Inc. (AEV) plans to issue up to P5 billion worth of fixed retail bonds within the first half of the year.

Italpinas board OK’s preferred share issuance

ITALPINAS Development Corp. (IDC) on Thursday said its board of directors gave the go signal for the issuance of up to P650 million worth of preferred shares.

Stocks post gains despite global growth concerns

THE MAIN INDEX extended gains on Thursday, bucking negative sentiment overseas as investors were concerned over a possible slowdown in global growth.

Villar leads other Philippine billionaires on Forbes’ richest list

REAL ESTATE tycoon Manuel B. Villar, Jr. is now the country’s richest man, rising past other Filipinos on Forbes Magazine’s annual list of world billionaires released on Tuesday.

Megaworld wants to expand WeWork facilities to its townships

MEGAWORLD Corp. plans to bring New York-based workspace operator WeWork into its townships in the country, where it could cater to the needs of start-ups, micro, small, and medium enterprises, as well as freelancers.

Eagle Cement net income hits P4.8 billion in 2018

EARNINGS of Eagle Cement Corp. jumped 13% in 2018, supported by a double-digit growth in sales volume despite higher input costs for the latter part of the year.

Abacore Capital eyes joint venture with Tiengs

ABACORE CAPITAL Holdings, Inc. is ramping up its real estate investments this year, as it expects further infrastructure development in Batangas where it has a land bank of about 200 hectares.

Shares resume ascent as investors buy bargains

LOCAL SHARES bounced back on Wednesday as investors turned bargain hunters after enduring losses for most of last week.

Metro Pacific core profit jumps 7% to P15.1 billion

INFRASTRUCTURE conglomerate Metro Pacific Investments Corp. (MPIC) delivered a seven percent increase in core profit for 2018, thanks to its expanded power portfolio and steady volume from its toll roads and water units.

DNL targets double-digit earnings growth this year

LISTED plastics and oleochemicals manufacturer D&L Industries, Inc. (DNL) looks to continue its double-digit profit growth this year, after increasing its earnings by 10% in 2018.

Solaire operator nets P7.2 billion in 2018

BLOOMBERRY Resorts Corp. grew its attributable profit by 18% in 2018, driven by higher revenues across both gaming and non-gaming segments.

MPIC hospital unit plans to raise up to P20B in fresh...

THE hospital unit of Metro Pacific Investments Corp. (MPIC) is looking to raise P15-20 billion in fresh capital in the next two years, to support its plan of having 30 to 40 hospitals in the future.

PSEi flat as market awaits new BSP chief’s stance

THE MAIN INDEX ended flat on Tuesday as investors were surprised at the sudden appointment of Budget chief Benjamin E. Diokno as the new governor of the Bangko Sentral ng Pilipinas (BSP).

Belle earnings drop 8% despite higher revenues

SY-LED BELLE Corp. posted an eight percent decline in earnings in 2018, amid higher revenues due to its share in City of Dreams Manila’s gaming revenues.

ArthaLand taps First Gen to supply power to BGC project

ARTHALAND CORP. has tapped Lopez-led First Gen Corp. to supply renewable energy to its office project in Bonifacio Global City (BGC) called ArthaLand Century Pacific Tower (ACPT).

SMC allots P1 billion for Tullahan River cleanup

DIVERSIFIED conglomerate San Miguel Corp. (SMC) is pouring in P1 billion to support the government’s cleanup efforts of the Tullahan River system.

Shares climb as US-China trade talks progress

LOCAL EQUITIES firmed up on Monday as reports of trade negotiations happening between the United States and China boosted investor optimism.

Office vacancy rates to reach 7.1% this year

AVERAGE VACANCY rate for office spaces in Metro Manila will likely hit 7.1% this year as more than 800,000 square meters (sq.m.) of new office supply is seen to enter the market in 2019, according to real estate services firm KMC Savills.

Feb. inflation data to dictate shares’ movement

THE MOVEMENT of shares this week will depend on the release of inflation data for February -- which could dictate how the main index will perform for the rest of the year.

Reclamation dev’t plans to be drafted in April

THE PHILIPPINE Reclamation Authority (PRA) said it hopes to start drafting regional and national reclamation development plans (RDPs) by April, in compliance with the President’s order to more closely supervise reclamation projects.

SMIC profit jumps 13% in 2018

SM INVESTMENTS Corp. (SMIC) increased its earnings by 13% in 2018, as the company’s property, banking, and retail units continued to show steady growth.

Holcim Philippines profit falls 5% in 2018

EARNINGS of Holcim Philippines, Inc. went down by five percent in 2018, as its improved performance in the fourth quarter failed to offset the higher interest expenses from loans for its expansion program.

Stocks decline on MSCI rebalancing, trade talks

SHARES SUFFERED a bloodshed on Thursday on the back of the MSCI rebalancing, alongside inflation concerns at home and sluggish developments in trade war negotiations overseas.

ALI plans massive fund raising

AYALA LAND, Inc. (ALI) plans to raise up to P45 billion in fresh capital this year to partially fund general corporate requirements and to refinance loans.

PSEi likely to close at 8,900 by end-2019

THE Philippine Stock Exchange index (PSEi) is likely to close at the 8,900 level by end-December, driven by lower interest rates and upbeat earnings expectations for the year, according to investment bank UBS Philippines.

8990 taps Megawide for project

MASS HOUSING developer 8990 Holdings, Inc. has tapped engineering conglomerate Megawide Construction Corp. to build its horizontal housing project in Meycauayan, Bulacan.

Bloomberry unit says it was a victim, not complicit in cyberheist

A UNIT of Bloomberry Resort Corp. said it will defend itself in court, after it was named one of the defendants in the case filed by the Bangladesh central bank in Manhattan in connection with the $81-million cyberheist in 2016.

Shares drop on lack of leads, net foreign selling

LOCAL EQUITIES fell on Wednesday amid a lack of catalysts, alongside foreign investors’ net selling.

Avida expects P13B in sales from Makati project

AVIDA LAND Corp. sees at least P12.9 billion in sales from its fifth residential project in Makati City, where it hopes to attract young Filipino millennials working in the area.

GSMI shareholder’s petition dismissed

THE Securities and Exchange Commission (SEC) has dismissed the request of Ginebra San Miguel, Inc.’s (GSMI) minority shareholder to nullify San Miguel Corp.’s (SMC) share swap with its food and beverage units for lack of merit.

GERI rolls out 2nd tower of Tulip Gardens

GLOBAL-ESTATE Resorts, Inc. (GERI) is rolling out the second tower of its residential condominium Tulip Gardens at its Laguna township, which is expected to generate P1.3 billion in sales.

PSEi climbs on blue chips, trade talks’ progress

THE MAIN INDEX firmed up on Tuesday, lifted by gains of index heavyweights alongside optimism on the United States and China’s trade deal.