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8990 profit jumps 13% in 2018

MASS HOUSING developer 8990 Holdings, Inc. posted a 13% profit increase in 2018, driven by higher real estate sales from several projects across the country.

GT Capital targets single-digit bottom-line growth this year

GT Capital Holdings, Inc. aims to grow its bottom line by mid-single digits in 2019, banking on the recovery of its auto unit and the continued growth of its banking and property businesses.

Ayala to spend P2B for cancer hospital

AYALA Healthcare Holdings, Inc. (AC Health) plans to build a specialty hospital in Metro Manila dedicated to cancer worth about P2 billion, in a bid to support the public sector’s efforts to improve cancer care in the country.

PSE index ekes out gains ahead of GDP data, BSP

THE MAIN INDEX eked out gains after trading in negative territory for most of Wednesday’s session, as investors went on selective buying at the close.

ALI nets P7.3B in 1st quarter

AYALA LAND, Inc. (ALI) saw its net income rise 12% in the first three months, driven by higher residential sales and strong commercial leasing revenues.

LT Group allocates P19 billion for capex

LT Group, Inc. (LTG) will be spending about P19 billion in capital expenditures (capex) this year, a big chunk of which will be used to support the planned stock rights offering of its banking unit.

DNL posts flat earnings growth as sales slide 8% in first...

D&L Industries, Inc. (DNL) reported flat earnings growth in the first three months of 2019, as inflation concerns in 2018 continued to affect consumer sentiment.

Shares snap two-day decline on easing inflation

STOCKS FIRMED UP on Tuesday as investors welcomed the slower inflation reading for April.

SM Prime Q1 profit grows 16%

SM PRIME Holdings, Inc. delivered a 16% profit increase in the January to March period, as its shopping mall, residential development, and commercial properties continued to see strong growth.

Ayala Land mulls peso-denominated ‘green’ bonds

AYALA LAND, Inc. (ALI) is looking at the issuance of peso-denominated “green” bonds in the future, following the recent release of guidelines for such a product by the Securities and Exchange Commission (SEC).

Cement firms’ Q1 income up on higher prices

CEMENT manufacturers reported stronger earnings in the first three months of 2019, thanks to higher average selling prices of cement for the period.

RRHI earnings drop 32% in 1st 3 months

ROBINSONS Retail Holdings, Inc.’s (RRHI) attributable profit dropped by more than a third in the first quarter of 2019, amid a double-digit topline growth due to the consolidation of Rustan Supercenters, Inc. (RSCI).

Concepcion earnings up 14%

EARNINGS of Concepcion Industrial Corp. (CIC) went up by 14% in the first quarter, on the back of easing inflation figures and a more stable foreign exchange environment.

PHL stocks slump on US-China trade deal fears

LOCAL EQUITIES fell on Monday as sentiment turned sour following US President Donald J. Trump’s threats to raise tariffs on $200 billion worth of Chinese goods.

AEV bonds secure top rating

ABOITIZ Equity Ventures, Inc. (AEV) secured the highest rating for its planned issuance of P5 billion in fixed rate retail bonds, according to local debt watcher Philippine Rating Services Corp. (PhilRatings).

Robinsons allots P5B for capex

ROBINSONS Retail Holdings, Inc. (RRHI) plans to spend up to P5 billion in capital expenditures (capex) this year for the establishment of up to 150 new stores.

Shares to move sideways ahead of economic data

SHARES MAY continue trading sideways albeit with an upward bias as investors watch out for April inflation data, the central bank’s policy meeting, and first-quarter earnings reports this week.

Metro Pacific core profit hits P3.7B in Q1

INFRASTRUCTURE conglomerate Metro Pacific Investments Corp. (MPIC) delivered a three percent increase in core profit during the first quarter of 2019, supported by the growth of its energy, water, and hospital businesses amid the flat performance of its toll roads unit.

Hospital operator shelves IPO plan

METRO PACIFIC Hospital Holdings, Inc. (MPHHI) has shelved its plan to debut on the stock market as management prefers to keep the business private.

URC earnings jump 3% in 1st quarter as domestic sales recover

UNIVERSAL Robina Corp. (URC) reported a three percent increase in attributable profit in the first three months of 2019, as sales volume and average selling prices improved during the period.

Registration for 1 person corporation starts May 6

ENTITIES with only one stockholder may start applying for company registration starting May 6, after the issuance of guidelines by the Securities and Exchange Commission (SEC).

PSE index returns to 8,000 level on S&P upgrade

LOCAL EQUITIES firmed up on Thursday, as investors reacted positively to the country’s rating upgrade from S&P Global Ratings.

MerryMart set to open 10 stores this year as it eyes...

MERRYMART Grocery Centers, Inc. of businessman Edgar J. Sia II plans to open 10 stores this year before accelerating its expansion in the next decade.

Hortaleza to focus on food business after Splash sale

BUSINESSMAN Rolando B. Hortaleza aims to grow the sales of his food business to P1.5 billion by next year, as he now has more time to focus on the venture following the sale of his personal care company.

SEC cancels Yeheey’s incorporation papers

THE SECURITIES and Exchange Commission (SEC) has invalidated the incorporation papers of Yeheey iTraffic System, Inc. for the damage it might cause the public due to its paid-to-click scam.

Market seen riding debt rating upgrade euphoria

SHARES are seen to firm up in the remainder of the week as investors cheer the Philippines’ credit rating upgrade from debt watcher S&P Global Ratings late on Tuesday, marking the first such move since 2013 to the highest grade in the country’s history.

SEC eyes five-year grace period for higher float

THE SECURITIES and Exchange Commission (SEC) is looking at giving listed firms five years to comply with the planned increase in minimum public ownership (MPO), a senior regulatory official told reporters on Tuesday.

Property company inks deal to expand in Clark Global City

THE developer of Clark Global City (CGC) will sublease about two hectares of land to businessman Jettson Yu, who plans to build an office tower and retail hub.

RHI says still keen on selling Batangas sugar mill

ROXAS Holdings, Inc. (RHI) is negotiating with local firms for the sale of its Batangas sugar mill, after its deal with Gokongwei-led Universal Robina Corp. (URC) fell through due to regulatory restrictions.

SEC approves rules on social, sustainability bonds

THE Securities and Exchange Commission (SEC) has greenlit the guidelines for the issuance of social and sustainability bonds in line with regional standards.

PSEi climbs to 7,900 level on GDP, inflation bets

THE MAIN INDEX ran past the 7,900 level on the last trading day of April, as investors were upbeat on the release of gross domestic product (GDP) and inflation data next week.

Indian firm takes over Splash

SPLASH CORP., maker of Maxi-Peel soap and SkinWhite lotion, has been acquired by Bangalore-based Wipro Consumer Care (WCC) for about P9 to 11 billion.

IMI profit plunges 94%

INTEGRATED Micro-Electronics, Inc. (IMI)’s attributable profit plunged by 94% in the first three months of 2019, weighed down by higher input costs and the general slowdown of the global market.

Former SGV chairman Balangue passes away

DAVID L. BALANGUE, an accounting and auditing veteran and former Securities and Exchange Commission (SEC) commissioner, has passed away on April 29, Monday.

Shakey’s Pizza creates new subsidiary

SHAKEY’S Pizza Asia Ventures, Inc. (SPAVI) has incorporated a new wholly owned subsidiary that will handle restaurants and food retail outlets both locally and abroad.

PSE index ends higher ahead of economic data

THE MAIN INDEX finished higher on Monday despite trading sideways for most of the session as investors remained cautious ahead of the release of economic data.

Filinvest sets P39-billion spending plan

FILINVEST Development Corp. (FDC) has programmed P38.9 billion for its spending plan this year as it accelerates its expansion in Clark, Pampanga.

ALI plans to develop country’s first Sino-PHL industrial park

AYALA LAND, Inc. (ALI) is riding on the influx of Chinese firms coming to the Philippines as it plans to acquire up to 200 hectares of land in Central Luzon for the development of the first Sino-Philippine industrial park in the country.

Aboitiz group bullish on Cebu power projects

ABOITIZ Equity Ventures, Inc. (AEV) is on track to completing several power projects undertaken by its Cebu-based units this year.

PHL shares to move sideways ahead of holiday

SHARES are seen to continue trading sideways in the days ahead amid a trading holiday in the middle of the week.

Ayala to form $150M venture capital fund

AYALA Corp. (AC) is raising $150 million from its business units to put up a venture capital fund that will allow it to invest in startups across various industries at home and abroad.

Cemex Philippines profit soars in Q1

EARNINGS of Cemex Holdings Philippines, Inc. (CPG) soared 137% in the first quarter of 2019 as sales improved despite flat annual volume.

PSEi dips as investors await outcome of US-China trade talks

LOCAL stocks dropped on Friday as investors stayed on the sidelines amid trade negotiations between the United States and China.

Ayala Land prices seven-year bonds at 6.369%

AYALA LAND, Inc. (ALI) has priced its P8-billion fixed rate bonds at a coupon rate of 6.369% per annum, a top official said Wednesday.

AC Education-iPeople to complete merger in May

THE Ayala and Yuchengcho groups will finalize the merger of their education units this May, after securing the final clearance from the Securities and Exchange Commission (SEC) yesterday.