Monthly Archives: October 2011

Corporate News: Manila Electric Company (MER)

Posted on October 10, 2011 by research

Manila Electric Company (MER) has been given authority by the Energy Regulatory Commission (ERC) to reduce its Maximum Average Price (MAP) to PhP1.6012 per kWh from PhP1.6464 per kWh for the first year of the 3rd regulatory period under the … Continue reading →

Comments Off

Corporate News: Apex Mining Co., Inc. (APX)

Posted on October 10, 2011 by research

Apex Mining Co., Inc. (APX) approved the plan to merge with Teresa Crew Gold Philippines, Inc. The merger will be a share swap deal where APX will be issuing 45.3m Class A shares to Mapula Creek Gold for 6.7m Teresa … Continue reading →

Comments Off

Corporate News: Nickel Asia Corp. (NIKL)

Posted on October 10, 2011 by research

Nickel Asia Corp. (NIKL) said that the value of nickel shipments in the nine-month period ending September 2011 reached PhP9.8bn, or 78% higher than the PhP5.7bn worth of shipments made in the same period last year. In terms of volume, … Continue reading →

Comments Off

Market Summary and Outlook: October 10, 2011

Posted on October 10, 2011 by research

Local share prices were little changed last week as investors moved into and out of a highly volatile market amid easing debt concerns abroad. The PSEi main index gained 9.61 points, or 0.24% week-on-week to end the first fullweek of … Continue reading →

Comments Off

DAILY VIEW: WEEK 40, TD 194/195, October 6/7, 2011

Posted on October 7, 2011 by research

MARKET ACTION: The PSEI trimmed the week’s losses to less intimidating -2.7% following a 67.39 (1.8%) surge Thursday. Optimism was finally sustained up to the final bell after intermittent peeks in the three previous sessions. The day was generally bullish … Continue reading →

Comments Off

DAILY VIEW: WEEK 40, TD 193/194, October 5/6, 2011

Posted on October 6, 2011 by research

MARKET ACTION: Investors jumped on a 150-point rebound in the Dow overnight, pushing the benchmark composite higher off the opening bell. The momentum faded just a quickly however with the realities over Europe posing the drag. The third session of … Continue reading →

Comments Off

Corporate News: Atok-Big Wedge Co., Inc. (AB)

Posted on October 5, 2011 by research

Atok-Big Wedge Co., Inc. (AB) has acquired 100% of Hong Kong-listed Tidemark Holdings, Ltd. Tidemark owns 8.65m common shares of Forum Pacific Plc, or 25.9% of its outstanding capital. Forum Energy has a 70% stake in SC 72 offshore gas … Continue reading →

Comments Off

Corporate News: Alliance Select Foods International (FOOD)

Posted on October 5, 2011 by research

Alliance Select Foods International (FOOD) announced that its seafood unit, Big Glory Bay Salmon and Seafood Co., has exported smoked salmon slices and other retail seafood packs to Hong Kong, Japan and Singapore. The company claims that pipeline orders from … Continue reading →

Comments Off

Corporate News: Belle Corp. (BEL)

Posted on October 5, 2011 by research

Belle Corp. (BEL) said that its recent PhP4.5bn stock rights offer was 13% oversubscribed. A total 1.7bn rights shares were subscribed by shareholders out of the 1.51bn rights shares offered by the company. Priced at PhP3.0 per rights share, BEL … Continue reading →

Comments Off

Corporate News: Abra Mining & Industrial Corp. (AR)

Posted on October 5, 2011 by research

Abra Mining & Industrial Corp. (AR) confirmed details of the deal with Olympus Pacific Minerals, Jabel Corp, Kadabra Mining Corp, and Philearth Mining Corp. for a gold exploration project in Abra province. Under the Joint Venture Agreement between the parties, … Continue reading →

Comments Off