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Stock market operator targets 3 IPOs this year

THE Philippine Stock Exchange, Inc. (PSE) is targeting three initial public offerings (IPOs) and four real estate investment trust (REIT) listings this year, despite market uncertainty amid the pandemic.

PSE plans short selling program, new sector indices

THE PHILIPPINE Stock Exchange (PSE)plans to introduce new products in 2021 as part of its effort to create an “end-to-end” digital experience for stakeholders.

Palay farmgate price rises 1.1% in second week of December

THE average farmgate price of palay, or unmilled rice, rose 1.1% week-on-week to P16.14 per kilogram in the second week of December, with the price increasing 2.2% year on year, according to the Philippine Statistics Authority (PSA).

Shares likely to climb on vaccine developments

STOCKS are expected to climb during the first trading week of 2021 as investor sentiment is seen to improve on the developments on coronavirus disease 2019 (COVID-19) vaccines over the holiday break.

SEC allows staggered booking of credit losses

THE Securities and Exchange Commission (SEC) has allowed the staggered booking of credit losses to help licensed financing companies, lending companies, and accredited microfinance non-government organizations (NGO) during the pandemic.

New rice import shipment deadline seen possibly disrupting market

THE ADDED time given to rice importers to bring in their shipments is “ill-advised” and could disrupt the market for domestically-grown rice if shipments coincide with the harvest, a farmer’s organization said.

Shares end 2021 on positive note after budget signing

LOCAL shares closed in positive territory on Tuesday, the last trading day for the year, as investor sentiment was lifted by the signing of the 2021 national budget.

Tighter delisting rules ‘beneficial’ to stakeholders

THE DECISION of the Philippine Stock Exchange (PSE) to tighten its rules on voluntary delisting has also given additional control to minority stakeholders, analysts said.

Fruitas opens 30th community store, hits yearend target

FOOD AND BEVERAGE kiosks operator Fruitas Holdings, Inc. has opened its 30th community store under the Babot’s Farm and Soy & Bean brands at Suki Market in Mayon Street, Quezon City.

SEC cancels license of Super Cash

THE Securities and Exchange Commission (SEC) has revoked the certificate of authority of Super Cash Lending Corp. due to its unfair debt collection methods.

Local stocks decline after extended UK travel ban

PHILIPPINE shares ended in negative territory on Monday, the start of a short trading week, as investor sentiment was dampened by the extension of travel restrictions from the United Kingdom (UK) in efforts to limit the spread of a variant of the coronavirus disease 2019 (COVID-19).

SEC warns public against investing in Maxx Profit

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading (Maxx Profit), which it said solicited funds despite being unregistered.

SEC approves public offerings of Cityland, PSIF

THE PUBLIC offerings of Philippine Stock Index Fund Corp. (PSIF) and Cityland, Inc. have been cleared by the corporate regulator, giving investors more choices to see their funds appreciate.

Palay farmgate price improves 0.8% in first week of December

THE average farmgate price of palay, or unmilled rice, rose 0.8% week on week to P15.97 per kilogram in the first week of December, with the price increasing 1.5% from a year earlier, according to the Philippine Statistics Authority (PSA).

BFAR lifts red tide warning over Bataan, parts of Samar, Leyte

THE Bureau of Fisheries and Aquatic Resources (BFAR) has lifted the red tide warning that had been in force over the waters off Bataan, as well as parts of Western Samar such as Daram Island, Cambatutay, Irong-irong, Maqueda, and Villareal bays, and Leyte's Carigara Bay.

Philippines bans poultry imports from Poland

THE PHILIPPINES has temporarily banned poultry imports from Poland after an outbreak of the H5N8 highly pathogenic avian influenza virus was reported there.

Shares improve as investors reposition ahead of holidays

PHILIPPINE SHARES ended in positive territory on Wednesday to close the shortened trading week ahead of Christmas despite the return of travel restrictions due to the new coronavirus disease 2019 (COVID-19) strain.

Ayala unit takes control of Qualimed 

AYALA HEALTHCARE Holdings, Inc. has acquired the controlling stake in the company behind the Qualimed health network, boosting the Ayala’s thrust into a sector that has become increasingly vital as the country grapples with the impact of the pandemic.

Bloomberry units infuse P20 billion more in existing loan facility

SUBSIDIARIES of Razon-led Bloomberry Resorts Corp. have added P20 billion to its existing loan facility in an effort to reduce interest expenses.

Shares drop on concerns over new virus strain

SHARES ended in red territory on Tuesday as investor sentiment reeled from the recent discovery of a new coronavirus disease 2019 (COVID-19) strain in Britain.

Voluntary delisting rules tightened

THE Philippine Stock Exchange, Inc. (PSE) has tightened rules on voluntary delisting after complaints from minority shareholders who were dissatisfied with the tender offer price given by companies that have delisted from the stock exchange in recent years. 

Philex Mining unit gets new 25-year term from DENR

PHILEX Mining Corp. has announced that its subsidiary in Surigao del Norte has secured the renewal of its mineral production sharing agreement (MPSA) from the government.

Shareholders approve Millennium Global’s increase in capital stocks

MILLENNIUM Global Holdings, Inc. has secured the approval of its stockholders to increase its authorized capital stock to an amount not exceeding P10 billion.

Basic Energy agrees to sell 67% interest to property company

BASIC ENERGY Corp. announced that a real estate firm is set to acquire at least 67% of its outstanding capital stock.

Main index closes lower in absence of fresh leads

LOCAL SHARES ended in negative territory on Monday as investors resorted to profit taking due to a lack of market catalysts.

Regional Updates (12/21/20)

THE MAKATI City government renewed its call for relatives to claim the remains of their loved ones buried at the municipal cemetery as it prepares to proceed with the construction of the planned columbarium at the site.

Local shares expected to decline on profit taking

SHARES are expected to decline this shortened trading week as investors will likely book their profits before the holiday break.

4th quarter palay output estimate cut to 7.54 million MT

THE PHILIPPINE Statistics Authority (PSA) said it reduced its estimate for fourth quarter output of palay, or unmilled rice, to 7.54 million metric tons (MT).

DA, BCDA to establish P285-M agri-industrial site in New Clark City

THE Agriculture department and the Bases Conversion and Development Authority (BCDA) recently signed an agreement covering the development of the first agri-industrial zone at New Clark City in Tarlac.

Lower levels of pesticide, heavy metals found in domestically-produced rice

DOMESTICALLY-produced rice has lower pesticide and heavy-metals content than rice produced elsewhere in the region, according to a scientist from the Philippine Rice Research Institute (PhilRice).

Motorcycle delivery riders, more essential than ever, have seen job security...

ARIES JAY C. DE GUIA, 28, a motorcycle delivery rider in Valenzuela City, considers himself lucky these days to clear P500 a day — less than half of what he used to earn before the pandemic, and below the prevailing minimum wage for Metro Manila.

Ayala Corp. decouples chairman and CEO positions

JAIME Augusto Zobel de Ayala will be solely focusing as Ayala Corp.’s chairman of the board, the conglomerate said on Thursday, after some of its subsidiaries earlier made announcements of succession moves.

Roxas Holdings posts P3.8-B net loss

LISTED sugar and ethanol producer Roxas Holdings, Inc. (RHI) posted an attributable net loss of P3.81 billion for its 2020 fiscal year that ended on Sept. 30 despite cutting its net debt.

Pepsi secures approval of PSE for voluntary delisting of shares

PEPSI-COLA Products Philippines, Inc. said on Thursday that the Philippine Stock Exchange (PSE) approved its petition to delist its shares.

Shares inch down as investors pocket their gains

PHILIPPINE SHARES inched lower on Thursday as investors booked profits and remained wary of rising coronavirus disease 2019 (COVID-19) cases around the world.

Palay farmgate price rises 1.3% in late Nov.

THE average farmgate price of palay, or unmilled rice, rose 1.3% week on week to P15.84 per kilogram in the last week of November, with the price up 0.6% year on year, according to the Philippine Statistics Authority (PSA).

STI unit sells 20% equity in Maestro Holdings for P60M gain

A SUBSIDIARY OF STI Education Systems Holdings, Inc. has sold 20% of its equity in Maestro Holdings, Inc. (MHI) to Chita SPC Ltd., in efforts to mitigate the volatility in its future earnings.

San Miguel Foods unit launches ready-to-eat line

THE FOOD SERVICE unit of San Miguel Foods has recently introduced a ready-to-eat product line that aims to help food business owners and entrepreneurs become more efficient in their businesses.

Electricity spot market price falls in November

THE EFFECTIVE settlement spot price at the Wholesale Electricity Spot Market (WESM) fell 10.1% month-on-month to P1.86 per kilowatt-hour (kWh) in November due to ample power supply and the colder weather, according to its operator.

PHL stocks rebound on positive remittances data

LOCAL SHARES bounced back on Wednesday as investor sentiment improved after the release of central bank data showing higher remittances from Filipinos abroad in October.

Regional Updates (12/16/20)

THE BUREAU of Fisheries and Aquatic Resources (BFAR) has lifted the red tide warning for Inner Malampaya Sound in Palawan, Matarinao Bay in Eastern Samar and San Pedro Bay in Western Samar.

P1B added to LANDBANK farmer lending program

THE Department of Agriculture (DA) has given P1 billion to the Land Bank of the Philippines (LANDBANK) to serve as additional funding for an emergency loan programs targeted at small farmers and fisherfolk.

Agri dep’t lifts suspension on poultry imports from Brazil

THE Department of Agriculture (DA) said it lifted the suspension on poultry imports from Brazil, after Brazilian veterinary authorities submitted certifications requested by the Philippines.

PHL wheat import outlook cut on weak animal feed demand

PHILIPPINE wheat imports are expected to total 6.8 million metric tons (MT) in the 2020-2021 marketing year (MY), downgrading its previous estimate of 7 million MT due to weaker demand for animal feed, the US Department of Agriculture (USDA) said.

Cost-cutting measures help boost Victorias Milling’s profit

LISTED sugar miller Victorias Milling Co., Inc. (VMC) posted a 2.8% rise in attributable net income to P840.03 million for its fiscal year that ended on Aug. 31, 2020, carried by higher revenues and lower operating expenses.