BUSINESS NEWS UPDATES: Local Bourse Closes Flat (TSTOCK - 07/25/2014) The local benchmark index (6,889.55, -0.00%) closed a hairs breadth below the flat line, with buyers wiping out most of the markets intraday losses during the afternoon session. Losers continued to outnumber gainers, 84 to 78, while foreign funds remained as net sellers. The property index (2,596.97, -0.76%) incurred the biggest percentage decline for the session among the sub-sectors due to ALI (30.90, -0.96%) and MEG (4.38, -1.35%), which were among the most actively traded stocks for the day. BDO (90.00, -1.10%) and MBT (86.30, -1.15%) extended the losing streak of the financial sector (1,635.08, -0.26%), while profit-taking on PX (12.42, -2.20%) and MA (0.0190, -5.00%) weakened the mining and oil index (16,821.64, -0.16%). The holding companies sector (6,207.67, +0.10%), meanwhile, remained upbeat on the leadership of AGI (26.85, +0.56%), SM (790.50, +0.06%), and JGS (53.80, +0.94%), with the latter posting a new 52-week high. ICT (112.20, +1.26%), GLO (1,760.00, +2.21%), and TEL (3,062.00, +0.33%) lifted the service sector (2,104.44, +0.58%), while the industrial index (10,511.19, +0.34%) resumed its ascent due to MWC (26.90, +1.89%), AP (37.50, +1.08%), EDC (6.20, +0.81%), and URC (161.20, +0.06%). C04030: SPC Power Clarification Of News Reports (PSE - 07/25/2014) This is in connection with your email of even date asking us to confirm and/or clarify the news article entitled SPC defends closure of plant which was posted in Manila Standard Today (Internet Edition) on July 25, 2014 which in part reported that: SPC Power Corp. said Thursday it cannot be held liable for the manual shutdown of the 153.1 megawatt Naga power plant on July 21 because of inadequate fuel supply from the state-run Power Sector Assets and Liabilities Management Corp. The Energy Department asked SPC Power to explain why it should not be issued a show-cause order for the manual shutdown of the plant on July 17 due to ‘no fuel’. . . . . In compliance with your request, we wish to confirm that the Department of Energy (DOE) asked SPC Power Corporation in a letter to explain why it should not be issued a show-cause order for the shutdown of Cebu Thermal Power Plant 2 (CTPP2) on July 17, 2014 because of no fuel. We also wish to state that in response to the DOE letter, we told DOE that the responsibility of scheduling and delivering fuel to the Naga Power Plant under the provisions of SPC’s service contract with PSALM belongs to PSALM, not SPC. Therefore, SPC cannot be held liable for the manual shutdown of the plant on July 17, 2014 because of no fuel. On July 21, 2014, the CTPP2 was synchronized and started to deliver electricity to the grid after PSALM delivered fuel to the Naga Power Plant the day before. C04026: Philippine Racing Club Change In Shareholdings (PSE - 07/25/2014) Name of Person - Ramon P. Ereneta, Jr. Position/Designation - Director For Equity Securities: Type of Security / Stock Symbol - Common / PRC Date of Transaction - Jul 18, 2014 Securities Acquired - 221,000 Price per Share - 9.30 Ownership Form - Indirect Number of Shares Owned after the Transaction: Lodge with PCD Nominee Direct - 5,850 Indirect - 221,000 DN00124: Benguet Corp. Trading Halt (PSE - 07/25/2014) This is with reference to the disclosure dated July 25, 2014 submitted by Benguet Corporation (BC or the Corporation) pertaining to the receipt by Benguetcorp Nickel Mines, Inc., a wholly-owned subsidiary of the Corporation, of an Order from the Mines & Geosciences Bureau Region 3 dated July 15, 2014 suspending the extraction of ores and future expansion of mining areas. In order to give the investing public sufficient time to digest the material information disclosed by the Corporation, the Exchange will implement a one (1) hour trading halt on BC securities today, July 25, 2014. Name of Listed Company: Benguet Corporation Stock Symbol(s) of Affected Securities: BC, BCB, BCP Trading Halt Details Execution Date: Jul 25, 2014 Execution Time: 9:00PM Lifting Date: Jul 25, 2014 Lifting Time: 10:00PM Reference(s): C04016-2014 dated July 25, 2014 C04024: GMA Network Press Release (PSE - 07/25/2014) The management of GMA Network signed another Collective Bargaining Agreement with the Company’s employees union on July 24 at the GMA Network Headquarters in Quezon City. Leading the signing of the CBA were GMA EVP and CFO Felipe S. Yalong, GMA Chairman and CEO Felipe L. Gozon, GMA President and COO Gilberto R. Duavit, Jr., and Robert Manalastas, GMA Union President. Other GMA Network officials and GMA Union officers were also present during the signing. This agreement clearly manifests the good relationship between the Network’s management and its employees, said Gozon. Our people can trust that the management will continue to be transparent and generous as far as they are concerned, he added. The agreement contains a signing bonus of P95,000 for all rank and file employees, and a wage increase of P7,000 distributed over a period of three years. C04023: BDO Unibank Change In Shareholdings (PSE - 07/25/2014) Name of Person - Lazaro Jerome C. Guevarra Position/Designation - Senior Vice President For Equity Securities: Type of Security / Stock Symbol - BDO common shares Date of Transaction - Jul 21, 2014 Securities Disposed - 1,000 Price per Share - 91.30 Ownership Form - Direct Number of Shares Owned after the Transaction: Direct - 53,135 Indirect - 0 C04020: GT Capital Issuance Of Debt Securities - 2 (PSE - 07/25/2014) Effect(s) on the ownership structure, including the list of principal shareholders with their corresponding shareholdings and percentage ownership to total outstanding shares before and after the transaction Principal Shareholders: Grand Titan Capital Holdings, Inc. Before: Number of shares - 103,371,110 % - 59.31 After: Number of shares - 103,371,110 % - 59.31 Effect(s) on the capital structure: Issued Shares Type of Security/Stock Symbol: Common stock Before - 174,300,000 After - 174,300,000 Outstanding Shares Type of Security/Stock Symbol: Common stock Before - 174,300,000 After - 174,300,000 Treasury Shares Type of Security/Stock Symbol None Before - After - Listed Shares Type of Security/Stock Symbol Common stock Before - 174,300,000 After - 174,300,000 Effect(s) on the public float, if any: None Effect(s) on foreign ownership level, if any: None C04018: 8990 Holdings Clarification Of News Reports (PSE - 07/25/2014) The Company would like to clarify the news article published in Philippine Daily Inquirer today, 25 July 2014 quoted in part: MANILA, Philippines–Mass housing developer 8990 Holdings Inc. generated P4.1 billion from the sale of housing units in the first semester, doubling the level seen in the same period last year and putting the company on track with its full-year gross revenue goal of P8 billion. In a press briefing on Thursday, 8990 Holdings president Jesus Atencio said net margins were steady at an average of 43 percent in the first semester. The first-semester guidance given by Atencio suggested that 8990 Holdings may have posted a net profit of P1.76 billion in the six-month period. The first-semester result is expected to be reported in the next few days. The P4.1-billion worth of housing units from which 8990 Holdings generated revenues in the first semester consisted of about 3,715 units. For this full year, the company is targeting to unlock revenues from 7,500 units. Compared to gross revenues in the first semester of 2013, the first-half performance suggested a growth of 110 percent year on year, Atencio said. ‘This was because of the launch of new projects,’ Atencio said, noting the housing projects rolled out in late 2013 whose ‘velocity is only being felt in the first half of 2014,’ . . . . Mr. Jesus Gregorio III B. Atencio, President and CEO of 8990 Holdings, Inc., clarifies that the performance level of the Company improved by 32% from the first semester of 2013 compared to this years first semester. Mr. Atencio said that H1 2013 performance level was Php3.1 Billion and not Php1.9 Billion as earlier reported. H1 2014 performance of 8990 Holdings was projected at Php4.1 Billion, representing a 32% growth. We hope to have clarified the quoted news articles in the interest of trading participants and investing public.
Posted on: Sat, 26 Jul 2014 09:31:49 +0000
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