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PSE eyes changes to listing rules

THE Philippine Stock Exchange, Inc. (PSE) is proposing to require companies that will list shares on its main board to have a minimum P75-million three-year cumulative net income, replacing the minimum capitalization requirement.

SEC orders financing firms to extend debt relief to clients

FINANCING COMPANIES, lending companies and microfinance nongovernment organizations (NGOs) are required to implement a one-time, 60-day grace period for all loans due within the year.

MerryMart, FoodPanda tie up for online-only groceries

A SUBSIDIARY of grocery operator MerryMart Consumer Corp. is teaming up with FoodPanda Philippines to launch a purely online grocery service in the country.

Century Pacific Food taps farmers to be ‘carbon-neutral’ 

THE coconut manufacturing subsidiary of Century Pacific Food, Inc. aims to cancel out its environmental damage in eight years through the donation of seedlings to small-time coconut farmers.

Axelum extends P500-M share buyback to end-2020

COCONUT products manufacturer Axelum Resources Corp. is extending its P500-million share buyback program until the end of the year.

PSEi flat as market anticipates new restrictions

PHILIPPINE SHARES continued moving sideways on Wednesday as investors started taking into consideration the expiration of current quarantine measures in the country towards the end of the month.

Wilcon’s new stores make up for ‘lost time’

WILCON DEPOT, Inc. is targeting to open two more stores by the end of the year to catch up on delayed construction from the two months of strict lockdown due to the coronavirus pandemic.

Aboitiz holding firm eyes up to P10-B bonds 

ABOITIZ EQUITY VENTURES, Inc. (AEV) is looking to issue up to P10-billion fixed-rate retail bonds in the fourth quarter of the year.

Uy’s gaming firm gets SEC nod for P1.13-billion follow-on offering

PH RESORTS GROUP HOLDINGS, Inc., the gaming and hospitality firm of businessman Dennis A. Uy, has gained regulatory approval to do a follow-on offering of P1.125-billion common shares.

Stocks fall on virus worries as Europe cases rise

LOCAL SHARES declined on Tuesday as investors started worrying about the rise in coronavirus disease 2019 (COVID-19) cases overseas.

Phinma divests in BPO research, consultancy unit

PHINMA CORP. has sold its research and consultancy unit to focus on businesses in the education and construction materials sectors.

Xurpas to buy US firm by end-2020

TECHNOLOGY FIRM Xupas, Inc. will be completing its P170.7-million acquisition of venture capital firm Wavemaker Partners US before the end of the year.

AGI to buy back up to P2.5B common shares

ALLIANCE GLOBAL Group, Inc. (AGI) will be buying back up to P2.5-billion worth of common shares listed on the exchange starting this week.

PSE index almost unchanged on lack of firm leads

THE MAIN INDEX ended nearly unchanged on Monday as the lack of a strong catalyst kept investors on the sidelines.

[B-SIDE Podcast] Warehousing and logistics: a bright spot in an otherwise...

https://open.spotify.com/episode/0KeEXNEsCS1iFIdOddpA2a Thanks to e-commerce and changing consumer habits, the logistics and warehousing sector still expects to grow by 8% in the next three years despite...

SEC warns against unauthorized investment scheme of PhilHelp

THE Securities and Exchange Commission (SEC) is warning the public against engaging in representatives of an investment group called “PhilHelp”.

D&L raises H2 earnings forecast to more than P1B

LAO-LED D&L Industries, Inc. expects to exceed its P1-billion target for second half earnings due to the resumption of business activities since lockdown measures eased.

Shares may continue to drop amid uncertainties

PHILIPPINE SHARES may continue falling this week due to the lack of a strong catalyst that could push it up and help it stay at the 6,000 level.

Top tycoons’ fortunes dive as economy tanks

THE country’s richest are also feeling the pinch from the coronavirus disease 2019 (COVID-19) pandemic and the economic slowdown, as Forbes reported the collective...

Ayala aims to build country’s largest health clinic network

Ayala Healthcare Holdings, Inc. (AC Health) is fortifying its Healthway brand by converting its clinic network to carry one name and be the largest clinic network in the country.

DFNN affiliate eyes Australia-listed casino group

An affiliate of gaming and technology firm DFNN, Inc. has signed a deal to buy a majority stake in a casino operator listed in the Australian Stock Exchange.

SM Investments gets corporate regulator’s nod on P30-billion bond program

SM Investments Corp. (SMIC) has received the approval of the Securities and Exchange Commission (SEC) for the shelf registration of a P30-billion bond program.

Pepsi starts tender offer to delist from PSE

Pepsi-Cola Products Philippines, Inc. (Pepsi-Cola Philippines) has started the tender offer of some 77.86 million common shares by Lotte Chilsung Beverage Co. Ltd.

Sumitomo to build wiring harness factory in Pangasinan

Sumitomo Wiring Systems, Ltd. has broken ground for a new wiring factory in Binalonan, Pangasinan that is expected to create around 10,000 jobs.

Del Monte sees return to profitability in 2021

Canned fruits manufacturer Del Monte Pacific Ltd. is expecting to swing back to profitability in 2021 as it continues the optimization of production facilities.

PHL shares end flat after Fed policy statement

Philippine shares closed flattish on Thursday as activity remained tepid with minimal volatility.  The benchmark Philippine Stock Exchange index (PSEi) slid 3.10 points or 0.05%...

Pandemic pulls down wealth of Philippine billionaires – Forbes

The collective wealth of Philippine tycoons dropped 22% to $60.6 billion due to the coronavirus pandemic, according to the 2020 Forbes Philippines Rich List. In...

Jollibee expects demand growth in North America, Europe

JOLLIBEE Foods Corp. (JFC) continues its expansion in North America and Europe as it sees growing demand for its Jollibee brand overseas.

Ayala Land’s AREIT buys office building in Cebu

AREIT, Inc., the real estate investment trust (REIT) of Ayala Land, Inc., has bought an office building in Cebu City using P1.45 billion from the proceeds of its recent public offering.

Stocks drop anew on increased selling pressure

LOCAL SHARES surrendered on Wednesday as investors took profits ahead of the policy decision of the US Federal Reserve.

San Miguel wins case vs shareholder over units’ merger

THE Securities and Exchange Commission (SEC) has favored San Miguel Corp. (SMC) in its dispute with a minority shareholder over a share-swap deal that merged its food and beverage businesses in 2018.

Cirtek subsidiary bags telco contract for 5G in US

A SUBSIDIARY of Cirtek Holdings Philippines Corp. has been awarded a contract to provide antenna to a telecommunications operator in the United States for fifth generation (5G) network rollout.

Roxas & Co. gets repayment extension for P2.6-B loans

ROXAS & CO., Inc. has been allowed by local banks to extend its payment period for some P2.6 billion debts.

Holcim may have to pay P610 million to port operator

CEMENT manufacturer Holcim Philippines, Inc. may have to pay up to P610.34 million to its former port operator, which it has been in conflict with over the termination of a port services agreement.

PSEi returns to 6,000 level on Wall Street gains

THE MAIN INDEX re-entered the 6,000 level on Tuesday as last-minute bargain hunting caused local shares to rebound from earlier intraday losses.

8990 expects P205-billion potential sales in 7-10 years

MASS housing developer 8990 Holdings, Inc. is looking at generating P205 billion in sales in the medium term from projects it may launch using its existing land bank.

Fruitas funnels IPO funds to property acquisition

FRUITAS Holdings, Inc. is buying new properties for a buko water commissary and a new head office by reallocating funds generated from its initial public offering (IPO) last year.

Why demand for residential projects outside Manila is rising

RESIDENTIAL developments outside central business districts are expected to gain ground as more people continue to practice remote work arrangements and prefer open spaces.

PSE index nears 6,000 mark on recovery hopes

THE MAIN INDEX inched closer to the 6,000 level on Monday as investors remained optimistic over the economy’s recovery amid relaxed quarantine restrictions.

Luxury retailer SSI cuts capex to P400M

SPECIALTY retailer SSI Group, Inc. is cutting its 2020 capital expenditure (capex) budget by a third as it recalibrates expenses to adjust to the coronavirus pandemic.

SEC flags 2 unauthorized funding scheme operators

THE Securities and Exchange Commission (SEC) is advising the public to stop engaging with Mining City and Hoton Retail and Services, Inc. as these groups are operating unauthorized investment schemes.

Stocks to rise as Duterte signs stimulus package

PHILIPPINE SHARES are seen moving sideways this week with an upside as investors got a confidence boost from the passage of a fresh stimulus package on Friday.

Fitch sees worse decline in power sector in the near term

By Denise A. Valdez, Senior Reporter THE RESEARCH UNIT of Fitch Solutions Group Ltd. has downgraded its forecast for the Philippines’ power and renewables sector...

SEC strengthens stockholders’ right to inspect corporate records

The Securities and Exchange Commission (SEC) will investigate complaints against companies that refuse to allow stakeholders to inspect or reproduce corporate records. The SEC issued...

Stocks rebound on economic recovery hopes

THE MAIN INDEX closed higher on Friday as investors gained some optimism before heading into the weekend. The benchmark Philippine Stock Exchange index (PSEi) picked...