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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.

Melco Resorts PHL board approves reverse stock split

MELCO RESORTS and Entertainment (Philippines) Corp. (MRP) is reducing the number of shares in its authorized capital stock alongside the decrease in its shareholder size.

Stocks extend rally as index heavyweights climb

THE MAIN INDEX firmed up on Thursday lifted by new highs recorded by index heavyweights.

SMIC eyes bonds, loans to refinance debt by Q3

SM Investments Corp. (SMIC) is looking at conducting a fundraising activity towards the third quarter of the year to refinance maturing loans.

Philab divests from 2 units

PHILAB Holdings Corp. is divesting from two subsidiaries including Philab Industries, Inc. (PII), amid an ongoing garnishment case filed against the latter.

Shares climb on bargain hunting, earnings bets

LOCAL EQUITIES rose on Wednesday as investors went bargain hunting on the back of optimism for good earnings results in the first quarter.

SM Prime allots P8B for China expansion

SM Prime Holdings, Inc. is boosting its presence in China, with the investment of up to P8 billion for the construction of a new mall and the expansion of an existing mall.

PhilWeb buys 3 gaming sites

PHILWEB Corp. has acquired three gaming sites in exchange for shares in the company and a total of P18 million in cash.

Mall operators conduct safety check after quake

MAJOR mall operators in the country said they have conducted safety checks to ensure the safety of their customers following the magnitude 6.1 earthquake that hit parts of Luzon Monday afternoon.

RFM’s Q1 revenues jump 11% on higher sales of pasta, milk

RFM Corp. saw its revenues increase by 11% in the first three months of 2019, thanks to higher institutional sales of its flour, bread, pasta, and milk products.

PSEi inches lower on cautiousness after quakes

THE MAIN INDEX went down on Tuesday as investors stayed cautious following an earthquake that jolted parts of Luzon on Monday afternoon.

FLI hikes capital spending to P32B

FILINVEST Land, Inc. (FLI) is ramping up spending to P32 billion this year as it plans to further expand its leasing portfolio.

Belle may apply for 2nd gaming license

BELLE CORP. looks to apply for a second gaming license with the Philippine Amusement Gaming Corp. (PAGCOR) in a bid to level the playing field with its competitors.

ASFII distances itself from estafa case vs former exec

ALLIANCE Select Foods International, Inc. (ASFII) reiterated that it is not involved in the estafa case against businessman George Sycip, a former company executive and the son of late businessman Washington Sycip.

PSE index ends flat after two-day trading break

THE MAIN INDEX ended flat on Monday as investors slowly made their way back to trading after the Holy Week break.

Groups line up for land reclamation

PROPERTY DEVELOPERS and local government units (LGUs) alike are rushing to get a slice of the robust demand for real estate projects in the so-called Bay Area, with the Philippine Reclamation Authority (PRA) awash with almost two dozen applications to reclaim more land along the Manila Bay coastline.

How diversity and inclusion boost Schneider Electric

ENERGY management firm Schneider Electric is working on employing a more diverse population set with the help of policies that will ensure everyone has the chance to grow and improve.

Bourse cites tack to bring down broker ownership

THE Philippine Stock Exchange, Inc. (PSE) said it will have to issue about P5 billion worth of shares to bring down broker ownership, in an effort to comply with the single industry ownership limit.

GERI profit up 3% in 2018 on higher residential sales

GLOBAL-ESTATE Resorts, Inc. (GERI) saw its attributable profit rise by three percent in 2018, driven by higher sales from its residential projects.

Shares to move sideways ahead of trading break

LOCAL EQUITIES may move sideways in the week ahead as analysts expect thin trading due to the Lenten season break.

Bloomberry to break ground on QC resort-casino in June

BLOOMBERRY Resorts Corp. is on track to break ground on its integrated resort and casino project in Quezon City in June, despite steps by the local government to impose entrance fees on visitors of gaming facilities in the area.

ICTSI in talks with banks to acquire Hanjin assets

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) is negotiating with banks for the possible acquisition of Hanjin Heavy Industries and Construction Philippines’ (HHIC-Philippines) assets, a top official said.

7-Eleven operator’s earnings up 16% in 2018

THE exclusive licensee of 7-Eleven convenience stores in the Philippines booked a 16.2% profit increase in 2018, as the tax reform program imposed at the beginning of the year further boosted earnings.

PSEi slips below 8,000 as trading volume thins

LOCAL SHARES dropped on Thursday as investors paused following the previous session’s flight past the 8,000 level.

Megawide profit falls on construction slowdown

MEGAWIDE Construction Corp. saw its earnings drop by a fifth in 2018 due to the slowdown in the construction industry.

TLDC eyes P7-B revenues by 2023

TORRE Lorenzo Development Corp. (TLDC) looks to generate P7 billion in revenues by 2023, more than triple than what it booked in 2018.

PSE index rises to 8,000 level on bargain hunting

THE MAIN INDEX advanced to the 8,000 level on Wednesday as investors went bargain hunting following the short break, alongside foreign investors’ bullish position on the local bourse.

Vista Land targets 1-M housing units in 10 years

VISTA LAND & Lifescapes, Inc. (VLL) said it can breach the one-million mark in terms of housing units in the next 10 years, as it aggressively expands in the provinces.

Cemex Philippines allots P7.5 billion for capex

CEMEX Holdings Philippines Corp. (CHP) looks to spend P7.5 billion in capital expenditures (capex) this year, mainly to support the expansion of its Antipolo cement plant.

Shares seen sideways as market hunts for leads

SHARES MAY continue trading sideways this week as investors wait for new leads that could help lift sentiment.

SEC drafts rules for revival of expired companies

THE CORPORATE REGULATOR will allow companies whose incorporation papers have expired to apply for revival, following approval of a perpetual corporate term under Republic Act No. 11232, or the Revised Corporation Code of the Philippines.

Alliance Global sets P85-billion capex for 2019

ALLIANCE Global Group, Inc. (AGI) will be spending P85 billion in capital expenditures (capex) this year, as the company seeks to further expand its property, liquor, gaming, and restaurant businesses.

SEC approves RLC-DMCI Homes joint venture

ROBINSONS Land Corp. (RLC) is teaming up with DMCI Project Developers, Inc. (DMCI Homes) for the development of a multi-tower residential condominium in Las Piñas City.

DoubleDragon tops off new Jollibee Tower

DOUBLEDRAGON Properties Corp. has topped off its 41-storey Jollibee Tower on Monday, which is seen to start contributing P631.8 million in annual recurring income this year.

PSEi climbs to 7,900 to track Wall Street’s gain

THE MAIN INDEX breached the 7,900 level on Monday, tracking Wall Street’s gains last Friday.

Megaworld earnings jump 17% in 2018

MEGAWORLD Corp. grew its attributable profit by 17% in 2018, lifted by the double-digit expansion of its residential, office, mall, and hotel businesses.

Corporate regulator drafting guidelines on issuance of ASEAN social bonds

THE Securities and Exchange Commission (SEC) is currently drafting guidelines on the issuance of social bonds aligned with regional standards, as it looks to offer new ways of financing social projects.

PSE finds 55 firms to be Shariah-compliant

THE Philippine Stock Exchange, Inc. (PSE) found 55 listed firms to be compliant with Islamic principles of finance as of March 25.

Shares to move lower ahead of Holy Week break

SHARES MAY edge lower in the following days as investors take a break for the upcoming Holy Week.

SEC revokes Kapa’s certificate of incorporation

THE Securities and Exchange Commission (SEC) has invalidated the registration papers of religious organization Kapa-Community Ministry International, Inc. (Kapa) for its illegal solicitation of investments from the public.

PSEi rises on slower-than-expected inflation

LOCAL equities climbed on Friday amid slower-than-expected inflation results for the month of March.

Villar’s VLL plans to launch P60B worth of projects

VISTA LAND & Lifescapes, Inc. (VLL) will be launching at least P60 billion worth of projects this year, as it continues to see strong demand from both its residential and commercial projects.