Minority shareholders of Alliance Select Foods International, Inc. have asked a local court to prevent the firm from undertaking a P1 billion stock rights offering before holding an annual general meeting (AGM). In a statement, minority shareholder Albert Hong Hin Kay and lone minority director Hedy...
The Securities and Exchange Commission (SEC) has approved the P11.26 billion assets-for-equity swap between AREIT Inc. (AREIT), the Philippines’ pioneer real estate investment trust, and its sponsor Ayala Land, Inc. (ALI). In a disclosure to the Philippine Stock Exchange, AREIT said ALI will...
The Securities and Exchange Commission has issued advisories to warn the public not to invest their hard-earned money in three firms that are soliciting investments without the necessary permits from the regulator. Based on reports and information it gathered, the corporate watchdog issued warnings...
Petron receives $37.48 M in tender offer of securities By BERNIE CAHILES-MAGKILAT Leading oil firm Petron Corporation announced that it received $37.48 million worth of securities as of January 12 deadline on its tender offer of $50 million worth of senior perpetual capital securities. In a...
The local stock market is turning bullish in light of last week’s rally although there may be some profit-taking this week while investors are wait for economic data such as remittances and the balance of payment. “The local bourse sustained its upward momentum last week, getting past its 6,800...
The Securities and Exchange Commission has approved the planned P5.43 billion initial public offering of Upson International Corporation (Upson), the country’s leading retailer of personal computers (PCs) and information technology (IT) products. In a statement, the firm said the SEC approved...
The Securities and Exchange Commission (SEC) has canceled the corporate registration of Silverlion Livestock Trading Corp. for unauthorized solicitation of investments from the public. In an order, the SEC Enforcement and Investor Protection Department (EIPD) revoked the certificate of...
Benchmark yields for short-term loans rose anew amid expectations that US Federal Reserve will continue its interest rate tightening regime. At Monday's auction of Treasury bills on Jan. 9, the 91-day Treasury bill rate increased to 4.232 percent from 4.155 percent last week. This, however, is...
The local stock market is seen to continue consolidating at current levels although sentiment appears to be more bullish with the PSEi rising 1.55 percent in the first trading week of the new year. “The market has been able to maintain its position above the 6,600 level (a previous resistance)...
The Securities and Exchange Commission has approved the merger between AXA Philippines and its former general insurance subsidiary Charter Ping An Insurance Corporation. AXA Philippines is a joint venture between the Metrobank Group, GT Capital, and the Paris-based AXA Group. With the merger, AXA...
The Securities and Exchange Commission is asking the public to stop investing in the scheme being offered by Ground Zero Poultry Agricultural Corporation and its representatives as this has the characteristics of a Ponzi scam. Based on reports and information gathered by the Commission, individuals...
The new trading year is seen to start with its traditional burst of optimism but whether this will be sustained will depend on domestic and global economic developments starting with the Philippines’ December 2022 inflation report this week. “In the last 5 years, from the previous year’s...
