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STI Holdings’ attributable profit drops 10% on interest expenses

STI Education Systems Holdings, Inc. (STI Holdings) saw its attributable profit drop by 10% in its fiscal year ending March 2018, weighed down by interest expenses due to its bond issuance.

Xurpas chair steps down to lead blockchain unit

XURPAS INC. Chairman Nico Jose S. Nolledo will be stepping down as the technology firm’s chief executive officer (CEO) to lead one of the company’s subsidiaries that will focus on blockchain projects.

Shakey’s opens first store in Dubai, banks on OFWs

SHAKEY’S PIZZA Asia Ventures, Inc. (SPAVI) is stamping its presence in the Middle East with the opening of its first store in Dubai, banking on expected demand from the large population of Filipinos living in the area.

Investors turn attention to earnings reports

THE MAIN INDEX eked out last-minute gains on Tuesday after moving within a tight range as investors await the release of corporate earnings results in the coming weeks.

FMIC expects PHL stock market to recover in 2018’s second half

FIRST METRO Investment Corp. (FMIC) expects the local bourse to stage a rebound in the second half of 2018, albeit revising downward its year-end target for the Philippine Stock Exchange index (PSEi) due to higher oil prices, the global trade war, likely rate hikes by the US Federal Reserve, higher domestic inflation and the weakening peso, coupled with some political concerns.

GT Capital’s ProFriends inks deal to sell land in Cavite to...

A PROPERTY UNIT of GT Capital Holdings, Inc. has sealed a deal with Metro Pacific Investments Corp.’s (MPIC) logistics arm to sell its Cavite property for P1.02 billion.

SEC approves equity restructuring bid of Vitarich

THE SECURITIES and Exchange Commission (SEC) has approved the equity restructuring of Vitarich Corp., which will allow the firm to wipe out its deficit and declare dividends to shareholders.

Bourse caps four-day rally amid lack of leads

EQUITIES slipped on Monday as the market consolidated amid a lack of catalysts.

Online shopping seen to boost sales of fast-moving goods

MORE people are preferring to shop online driven by the convenience e-commerce platforms have to offer, with sales of fast-moving consumer goods (FMCG) sold online expected to grow by 7.2% by 2020, according to global research firm Kantar Worldpanel.

Concepcion Industrial expects big share from new unit

CONCEPCION Industrial Corp. (CIC) is preparing its newly created research and development unit Cortex Technologies Corp. to become a major contributor to revenues by 2020.

New malls expand Megaworld retail space portfolio

MEGAWORLD Corp. recently opened three new community malls in Makati City and Alabang, adding 26,500 square meters (sq.m.) of retail spaces to its portfolio.

SMIC ‘extremely strong’ debt rating retained

LOCAL DEBT watcher Philippine Rating Services Corp. (PhilRatings) retained its PRS Aaa rating for SM Investment Corp. (SMIC)’s outstanding bonds worth P47.3 billion.

Shares to move within tight range on thin volume

SHARE PRICES are seen to move within a narrow range in the week ahead, with analysts banking on an increase in trading volume for the main index to sustain its upward trajectory.

Vista Land signs P7.7-B corporate note facility

VISTA Land & Lifescapes, Inc. (VLL) has secured corporate note facilities totaling P7.7 billion to fund its capital expenditures this year.

PhilWeb narrows down losses in Q2

PHILWEB Corp. trimmed its net loss attributable to equity holders of the parent by 76% in the second quarter of 2018, after its revenues jumped by 143% for the period.

Philippine Seven Q2 earnings jump

THE local licensee of the 7-Eleven convenience store chain saw its net income jump by 18.9% in the second quarter of 2018, driven by higher sales and more operating stores for the period.

NKG to shift manufacturing to PHL from China

TAIWAN-BASED firm New Kinpo Group (NKG) is positioning the Philippines as its next main manufacturing hub in Southeast Asia, while preparing its local unit for an initial public offering (IPO) to expand its capacity.

SEC warns public against Boss Network

THE Securities and Exchange Commission (SEC) warned the public about dealing with Building our Success Stories Network, Inc. (Boss Network), saying the group is not licensed to solicit investments despite being registered with the commission.

Shares inch up amid escalating US-China tensions

SHARES closed a tad higher on Thursday, with no new leads to draw investors back to the market.

CIC expects single-digit growth amid challenges

CONCEPCION Industrial Corp. (CIC) is looking at a single-digit growth in both earnings and revenues for the year, calling 2018 an “even more challenging year than 2017” due to inflationary pressures and the weakening peso.

Primex breaks ground for San Juan office tower

PRIMEX Corp. started the construction of its P3.6-billion office tower in San Juan City yesterday, banking on its prime location to drive demand for tenants.

10 Philippine firms in Nikkei’s Asia300 list

TEN Philippine companies made it to the Nikkei Asian Review’s third annual list of Asia300 Power Performers Ranking, which ranks the most powerful and valuable listed companies in Asia.

The Medical City’s Bengzon refutes rival’s allegations

THE PRESIDENT of The Medical City (TMC) said pushing through with the company’s annual shareholders’ meeting would only undermine the interest of minority stockholders, as the Securities and Exchange Commission (SEC) has yet to determine whether previous share purchases orchestrated by one of its top officials were legal.

PSEi jumps as investors pick up large-cap issues

THE MAIN INDEX jumped on Wednesday on selective buying of large-cap firms, as most investors remained on the sidelines due to lack of new leads.

SMC proposes to build Caticlan-Boracay bridge

DIVERSIFIED conglomerate San Miguel Corp. (SMC) will be submitting today an unsolicited proposal to the government for a P3-billion bridge connecting Caticlan to Boracay island.

Megaworld acquires South Luzon-based company

MEGAWORLD Corp. is ramping up its land bank in Cavite and Laguna with the acquisition of a South Luzon-based real estate firm through one of its subsidiaries.

Revolution Precrafted to supply units to El Salvador property firm

REVOLUTION Precrafted Philippines, Ltd. is expanding into El Salvador in Central America, marking its 15th international market so far.

Sarmiento wants The Medical City ASM to push through

THE incumbent chairman of The Medical City (TMC) called on the Securities and Exchange Commission (SEC) and the company’s board of directors to take “swift action” to ensure the company push through with its annual stockholders’ meeting (ASM).

PHL stocks climb as trade war fears overseas ease

LOCAL EQUITIES climbed on Tuesday, tracking the positive finishes of its global counterparts.

LBC sets aggressive goal of 100 new stores a year until...

LBC Express Holdings, Inc. plans to open 100 stores per year until 2020, while embarking on a three-year program that will digitize its core logistics businesses.

CLI reservation sales surge 61% in 1st half

RESERVATION sales of Cebu Landmasters, Inc. (CLI) jumped by 61% in the first half of 2018, keeping it on track to hitting its full-year target.

PSEi ends flat as inflation dampens sentiment

SHARES barely moved on Monday as the higher inflation print in June and a projected interest rate hike in August dampened investor sentiment.

SMC Global Power to raise P15B from bond offer

SMC Global Power Holdings Corp. intends to raise P15 billion from the issuance of fixed rate bonds to refinance debt.

GERI expects P1.2 billion in sales from residential condo in Laguna

GLOBAL-ESTATE Resorts, Inc. (GERI) expects to generate P1.2 billion in sales from its newly launched residential property in Southwoods City in Laguna, following the strong take-up for its first project in the estate.

Stocks to move sideways ahead of Q2 earnings

THE Philippine Stock Exchange index (PSEi) is likely to continue trading sideways this week as investors anticipate second-quarter results that could push trading volume higher.

D.M. Wenceslao to spend P12B on Aseana City over next 5...

D.M. Wenceslao & Associates, Inc. (DMWAI) will be spending P12 billion over the next five years to develop its mixed-use estate in Pasay City, banking on the rising demand for residential, retail, and commercial spaces in the area.

Ortigas allots P26B for Capitol Commons development

ORTIGAS & CO. will be spending P26 billion for the development of its Capitol Commons estate in Pasig City, as it adds more retail, leasing, and residential projects in the area.

Tuna, salmon business seen to drive Alliance Select profit

ALLIANCE Select Foods International, Inc. (ASFII) is on track to post profits again this year, driven by the growth of its tuna and salmon businesses.

PSE index bleeds as inflation exceeds estimates

THE MAIN INDEX bled on Thursday after June inflation data turned out to be much faster than expected.

NLEX to tap bond market in Q4

TOLL ROAD operator NLEX Corp. looks to brave the bond market anew by the fourth quarter of 2018 to finance the construction of the North Luzon Expressway — South Luzon Expressway (NLEX-SLEX) Connector Road.

Go signal for PT Nusantara tender offer seen by August

METRO PACIFIC Tollways Corp. (MPTC) targets to get the greenlight from Indonesian regulators for the conduct of a tender offer in favor of minority shareholders of infrastructure firm PT Nusantara Infrastructure Tbk by August.

Stocks rally on bargain hunting ahead of data

LOCAL STOCKS jumped to their fourth straight day of gains on Wednesday as investors continued to search for bargains given the main index’s historically low valuation.

MPTC subsidiary gains control of Indonesian firm

A UNIT of Metro Pacific Tollways Corp. (MPTC) gained control of Indonesian infrastructure firm PT Nusantara Infrastructure Tbk after increasing its stake to more than 50%.

CNPF allots up to P1.8-billion capex

CENTURY Pacific Foods, Inc. (CNPF) is spending up to P1.8 billion this year to expand its capacity, as it expects earnings to grow in single digits due to the rising costs of fuel and raw materials.

Shares climb in thin trade ahead of inflation data

SHARES firmed up on Tuesday amid thin trading as investors stayed on the sidelines ahead of the release of June inflation data.