The Securities and Exchange Commission (SEC) is giving real estate companies more time to assess implementation issues amid the COVID-19 pandemic by further deferring the application of certain accounting rules until 2023. The Commission said it decided to defer the application of Philippine...
The Securities and Exchange Commission (SEC) is preparing new rules to beef up cybersecurity in publicly listed companies (PLCs), exchanges and other capital market participants amid the surge in digital transactions in the country. The Commission has released a draft memorandum circular...
The PSEi surged to just a hair shy of the 7,300 level after government reported higher remittances from overseas Filipinos. (Photo credit: https://www.pse.com.ph) The main index jumped 71.97 points or 1.00 percent to close at 7,299.70 although the Services sector was in the red. Volume was slightly...
The board of directors of Aboitiz Power Corporation has approved the company’s P30 billion peso-denominated fixed rate retail bonds to be issued in tranches. The company said it will file registration for the planned bond issuance under the shelf registration program of the Securities and...
The board of directors of Phoenix Petroleum Philippines Inc. has approved the settlement of the P3.0 billion commercial papers that the firm issued on December 5 last year. The Uy-led company apprised the Philippine Stock Exchange (PSE) that the CP issuance had a tenor of 360 days, hence, its...
A Quezon City regional trial court has fined three persons a total of P2 million after being sued by the Securities and Exchange Commission (SEC) for illegally soliciting investments from the public. In a decision dated 27 November 2020, the Quezon City Regional Trial Court Branch 90 found...
The local stock market continued to rise as investor sentiment remains buoyant. Photo credit: (https://www.pse.com.ph/) The main index gained 35.19 points or 0.49 percent to close at 7,281.35 with only the Property counter retreating. Volume was slightly lower at 46.02 billion shares worth P8.93...
The Securities and Exchange Commission (SEC) announced that it has approved the securitization of P319.32 million worth of National Home Mortgage Finance Corporation’s (NHMFC) residential loan portfolio. In a statement, the SEC said the Commission En Banc approved the secondary mortgage...
Ayala-led AC Energy Philippines Inc. (ACEN) has secured the approval and confirmation of the Securities and Exchange Commission (SEC) on its stock rights offering (SRO) which is targeted next year. The Ayala energy firm is eyeing to float 2,267,580,434 common shares on its first round SRO and it...
The Asian Development Bank (ADB) downgraded its growth forecast for the Philippines as the nation struggled in containing the coronavirus outbreak that hampered economic recovery. Based on ADB’s Asian Development Outlook update, the Manila-based multilateral institution has projected that the...
The Philippine Stock Exchange is offering to sell up to a 5 percent stake in bourse to a strategic investor such as the Singapore Stock Exchange is already its partner in the Philippine Dealing System group. In an interview after the PSE’s annual stockholders’ meeting, PSE President Ramon S....
