Big Chill considers PSE listing

Fruits and vegetables grower AgriNurture Inc. plans to list its fruit shake chain Big Chill Inc. with the Philippine Stock Exchange. AgriNurture president and chairman Antonio Tiu said the company had declared AgriNurture shares in Big Chill as property dividends to shareholders. He said the move would widen the public ownership of Big Chill and […]

PSE fears longer wait for possible issuers of REIT

THE Philippine Stock Exchange (PSE) sees the current year as another lost cause for potential issuers of Real Estate Investment Trust  (REIT) and is more optimistic for 2013 as efforts to amend the REIT law gain steam, its top official said. The PSE president, Hans Sicat, told reporters last week that an initiative to amend the law […]

PAL says fiscal Q1 net reached P489M


After flag carrier Philippine Airlines (PAL) was bought by diversified conglomerate San Miguel Corp. early this year, airline reported a net income of P489.2 million in the fiscal first quarter ending June. It cited lower oil prices and better passenger traffic as drivers of its bottomline. The fiscal first quarter net income was a complete […]

Bourse finalizing listing rules for small firms

The Philippine Stock Exchange (PSE) aims to complete in a month’s time a framework for a new board for companies with smaller market capitalization that will consolidate the rosters for the current second and small-and-medium enterprise (SME) board. In a briefing last week, PSE president Hans Sicat said that once the new rules have been […]

Petron rejoins PSEi, Cebu Air out


MANILA, Philippines–Oil refiner Petron Corp. is making a comeback at the country’s main stock benchmark Philippine Stock Exchange index (PSEi) effective September 10, replacing budget carrier operator Cebu Air. The PSE announced late Wednesday that based on its latest twice-a-year index review of 30 companies comprising the PSEi, Petron will again be part of the […]

CitisecOnline says PHL operations drive H1 earnings higher


Stock brokerage CitiesecOnline Financial Group Inc. (COL) saw its consolidated net income jump 14.7 percent to P209.1 million in the first half – its Philippine operations making up for the slowdown in its Hong Kong unit. “Growth was tempered by the weak performance of (Hong Kong) and as COL expanded domestically leading to higher operating […]

27 PSE-listed companies remain short of 10% public ownership rule

At least 27 listed companies have yet to comply with the 10-percent minimum public ownership (MPO) requirement, a Philippine Stock Exchange (PSE) official told reporters Thursday. PSE president and CEO Hans Sicat said the number – as of last June – was down from 30 companies at the start of the year. Most of the […]

PSE review of listing rules for SMEs extended

THE Philippine Stock Exchange (PSE) is giving the public one more week to comment on the proposed rules for a new listing segment that could possibly replace the existing second and SME (small and medium enterprise) boards. “Please be informed that the exchange is extending the period for submission of public comments on the proposed […]

PH is now Asia’s strongest-performing economy, says expert

This, as an expert claims Philippines is now the strongest-performing economy in Asia, thanks to improved exports even in a weak global environment. “The strongest-performing economy in the Asia today is the Philippines,” Michael Spencer, chief economist for Asia at Deutsche Bank AG, said in an interview with Bloomberg on Thursday. Spencer notes the country […]