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Steven Tan named president of SM mall management unit

SM PRIME Holdings, Inc. has appointed Steven T. Tan as the new president of its mall management unit, Shopping Center Management Corp.

Int’l retailers continue to flock to PHL

INTERNATIONAL RETAILERS continued to flock to the Philippines last year, eager to sate Filipinos’ appetite for new brands and restaurants, according to a report by the local unit of real estate services firm Cushman & Wakefield.

Del Monte sells shares in local unit to Singaporean investor

DEL MONTE Pacific Ltd. is selling the shares of its Philippine unit Del Monte Philippines, Inc. (DMPI) to a Singapore-based investor for $130 million, it told the stock exchange on Monday.

SEC warns public against investing in 727-Tycoon

THE Securities and Exchange Commission (SEC) has issued a warning to the public not to invest in individuals or groups representing 727-Tycoon/1Tycoon as it is not registered.

Grocery operator MerryMart plans P1.6-B IPO

MERRYMART Consumer Corp. is doing a P1.6-billion public offer of its shares by the end of the quarter, it said in a statement yesterday.

Stocks end lower on worries over virus outbreak

THE MAIN INDEX ended lower on Monday due to sustained investor worries over the novel coronavirus from China.

Regulator drafts rules on financial derivatives

THE Securities and Exchange Commission (SEC) is seeking to revise rules on financial derivatives to “improve the regulatory compliance of investment companies and their fund managers and ensure adequate protection to shareholders and unitholders.”

SEC orders companies to certify compliance with governance code

THE Securities and Exchange Commission (SEC) is requiring companies to submit on or before Jan. 30 certifications in relation to its new Code of Corporate Governance for Public Companies and Registered Issuers.

DoubleDragon targets P11B in maiden REIT listing

DOUBLEDRAGON Properties Corp. is finalizing plans for its maiden real estate investment trust (REIT) listing as it targets to raise about P11 billion every year in the next six years through the investment vehicle.

Alphaland plans stock market return

ALPHALAND Corp. owner Roberto V. Ongpin is considering a return for the operator of Balesin Island Club to the stock market soon, its incoming president said.

Bargain hunting to persist as blue chips decline

THE LOCAL BOURSE is seen to attract bargain hunters this week amid the decline in share prices of blue chips.

Araneta nears start of 800-MW hydro-power facility

BUSINESSMAN Gregorio Ma. Araneta III is moving closer to start the construction of an 800-megawatt (MW) pumped storage hydroelectric facility in Pangil, Laguna as he engages with foreign firms interested to partner for the project.

Government getting ready to resettle Taal volcano-affected families

THE Philippine government said it is working to resettle any affected families in case of an explosive eruption of the Taal volcano.

DA eyes auction system for commodity imports

THE DEPARTMENT of Agriculture (DA) is now studying following an auction system starting with sugar to ensure transparency in the country’s import system.

Jollibee completes $600M bond sale

JOLLIBEE Foods Corp. (JFC) has completed its dollar bond market debut with the issuance of $600-million guaranteed senior perpetual capital securities by its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL).

Airlines ordered to cancel PHL flights to and from Wuhan

THE Civil Aeronautics Board (CAB) has ordered the suspension of all flights linking Wuhan, China and the Philippines to protect the country from the spread of the new flu-like virus.

Local shares end flat as China virus fears persist

LOCAL shares ended flat on Friday anud heightened worries across the globe over China’s coronavirus outbreak.

Online gaming seen to lure more into real estate

THE Philippine real estate industry is projected to attract more investors this year due to the continuous rise in demand from online gaming operators, relatively cheap leasing rates compared to other countries and new catchments from regional peers.

First REIT issuance expected in two months

THE new guidelines for real estate investment trusts (REITs) are set to take effect in the first week of February, after which any possible applicant may take at least two months for the country’s first REIT issuance.

PhilWeb expects profitable year, in talks to acquire firm’s online gaming...

PHILWEB CORP. is looking to seal a strategic partnership with an online gaming operator as it expects to return to profitability this year.

SEC warns public against two ‘Billford’ investment schemes

THE Securities and Exchange Commission (SEC) is warning the public against investing in Billford Trading Co. and Bill Ford VIP Trading, Inc., which it found were violating the Securities Regulation Code.

SEC orders 3 more illegal online lenders shut down

THE Securities and Exchange Commission (SEC) has ordered the immediate shutdown of three more illegal online lenders found to be operating without licenses.

SMIC in gender-inclusive index

TWO Filipino companies have been acknowledged by Bloomberg for its commitment to provide a gender-inclusive work environment.

Arthaland starts offering P3-B ASEAN green bonds

ARTHALAND Corp. has started its offer for up to P3-billion ASEAN green bonds after obtaining its permit to sell from the Securities and Exchange Commission (SEC).

Shares end flat ahead of economic growth data

LOCAL SHARES ended flat on Wednesday as investors decided to wait it out until the release of the gross domestic product (GDP) data for the fourth quarter of 2019 on Thursday.

ALI says land deal ‘beneficial’ for UP but market fears persist

AYALA LAND, Inc. (ALI) said it is open for a probe of its contract with the University of the Philippines (UP) for the UP-Ayala Land Technohub project following allegations of underpayment by Malacañang.

NLEX keeps top credit rating on fixed rate bonds

NLEX Corp. has maintained the highest credit rating given by a local debt watcher for its outstanding issuance worth P13 billion.

Megaworld unit expects P1-B sales from planned residential development

GLOBAL-ESTATE Resorts, Inc. (GERI) is embarking on a new residential project at the boundaries of Laguna and Cavite, which it expects will raise P1 billion in sales once completed.

Gokongwei’s Robinsons Land joins gender-equality index

ROBINSONS Land Corp. (RLC) has been recognized by Bloomberg for providing a workplace that promotes gender equality and advancing women.

Stocks extend decline on Ayala group’s woes

THE MAIN INDEX continued its decline on Tuesday due to regulatory risks that are hounding the Ayala group.

More REIT issuances expected as government relaxes rules

THE government has relaxed its requirements for real estate investment trusts (REITs) in hopes of attracting the Philippines’ first issuer nearly 11 years since the REIT law was passed.

PSE index sinks as Ayala-owned firms decline

THE MAIN INDEX took a nosedive on Monday due to the slump in Ayala-owned stocks, which followed remarks from the Office of the President regarding one of the company’s properties in University of the Philippines Diliman.

8990 to sell P2.4-B receivables

MASS housing developer 8990 Holdings, Inc. is looking to sell around P2.4-billion worth of contract-to-sell (CTS) receivables, a local debt watcher said.

Implementing rules on real estate investment trust ready for signing

THE government is set to sign today the amendments to the implementing rules and regulations (IRR) of the Real Estate Investment Trust (REIT) Act, which is expected to draw up REIT registrations from listed property firms.

At the dawn of UHC, private hospitals brace for long struggle

THE HOSPITAL UNIT of Metro Pacific Investments Corp. (MPIC) came close to staging a massive initial public offering (IPO) this year worth P83.3 billion — right on the eve of implementing the Universal Health Care Law (UHC).

Megaworld adding more office spaces in Iloilo’s business park

MEGAWORLD Corp. is building two new office towers in the Iloilo Business Park to expand its office portfolio in the urbanized city in Visayas.

Brokers, dealers told to register with AMLC

THE Securities and Exchange Commission (SEC) is reminding its covered persons that have not registered with the Anti-Money Laundering Council (AMLC) to start doing so.

Shares to trade sideways ahead of Q4 GDP data

TRADING at the stock market is seen to stay quiet until the government’s scheduled release of its gross domestic product (GDP) report this week.

Property owners count risks as Taal Volcano keeps rumbling

FIVE YEARS AGO, Jack, a 71-year-old retired physician, bought a two-story house worth P11 million in the upland town of Alfonso in Cavite province, 16 kilometers away from one of the world’s smallest and active volcanoes -- Taal Volcano.

Cavite, Laguna, Batangas seen to grow further

INDUSTRIAL activities in the areas of Cavite, Laguna and Batangas are seen to rise in the next two years, driven by improved connectivity and the growing commercial landscape in the south, real estate services firm Colliers Philippines said.

Arthaland fined for not updating website

ARTHALAND Corp. said it has paid the Securities and Exchange Commission (SEC) P130,000 for failing to comply with its website template guidelines.

Higher expenses weigh down FEU net earnings

FAR Eastern University, Inc. (FEU) posted slightly lower earnings at P460.98 million in the second quarter on the back of higher expenses and a slow growth in revenues.

Shares extend decline following US-China deal

PHILIPPINE STOCKS continued to decline on Thursday as investors chose to flock to Wall Street amid lingering concerns following the signing of the phase one trade deal between United States and China.

Pepsi-Cola prompts antitrust body of Lotte acquisition offer

PEPSI-COLA Products Philippines, Inc. (PCPPI) has notified the Philippine Competition Commission (PCC) regarding the plan of majority shareholder Lotte Chilsung Beverage Co. Ltd. to increase its stake in the company.

PSE fines electronics holding firm for disclosure violations

CIRTEK Holdings Philippines Corp. has been fined by the Philippine Stock Exchange, Inc. (PSE) for violations of its disclosure rules and doing transactions during black-out period.