ANGELICA BALLESTEROS, TMT

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THE Philippine Stock Exchange (PSE) was only doing its job when it delisted controversial agribusiness firm Calata Corp. from the roster of listed companies for committing multiple violations, a top Exchange official said late Wednesday. Calata Corp. was delisted following multiple violations, including alleged stock manipulation and tax evasion charges…

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ONE of the subsidiaries of Cemex Holdings Philippines Corp. is set to expand its production capacity by 1.5 million metric tons (MT) per year after it secured the nod of the Department of the Environment and Natural Resources (DENR) for a new plant. Cemex told the Philippine Stock Exchange that…

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A stock transaction tax hike approved by legislators would make the local market “uncompetitive”, the chief of the Philippine Stock Exchange (PSE) said. The increase — included in the first package of the government’s comprehensive tax reform program — raises the tax to 0.6 percent from 0.5 percent. “In absolute…

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BUSINESS tycoon Dennis Uy is planning to conduct more initial public offerings (IPO) next year under his holding firm Udenna Corp. “This year, we’ve made one company public—our Chelsea Logistics Group—and by next year, we plan to do more listings…with the support of everybody,” Udenna president and chief executive officer…

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GOKONGWEI-led Robinsons Retail Holdings, Inc. (RRHI) is acquiring a 20 percent stake in Tast Central Curators, Inc., the firm which operates e-commerce site BeautyMNL. In a disclosure to the Philippine Stock Exchange (PSE), RRHI said it purchased 1 million shares in Taste Central from a juridical corporation. “(The purchase) is…

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PROPERTY developer Cebu Landmasters, Inc. (CLI) has inked a joint venture agreement with four Davao-based firms for the construction of a 17.1-hectare central business district in Matina, Davao City next year. The property—called Matina Business Park—will sit on a former golf course established in 1960. It will be constructed by…

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AGRIBUSINESS firm Vitarich Corp. will conduct another debt-to-equity program to wipe out its existing P400-million debt. In a news conference on Tuesday, Vitarich Corp. President and Chief Executive Officer Ricardo Manuel Sarmiento said they had already filed the plan before the Securities and Exchange Commission (SEC), with approval expected within…

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INVESTORS went buying on Monday following an international debt watcher’s upgrade of the country’s credit rating. The bellwether Philippine Stock Exchange index (PSEi) added 0.65 percent or 53.87 points to close at 8,358.57. The broader All Shares similarly rose by 0.55 percent or 26.59 points to finish at 4,885.45. “Locally,…

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ONLINE brokerage BDO Nomura Securities, Inc. expects the Philippine Stock Exchange index to hit the 9,100 level next year with a pick-up in earnings growth outpacing inflation. “The reason why we’re bullish on the stock market moving forward even if inflation and interest rates are going up is because if…

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LISTED Philab Holdings Corp. is planning to acquire 67-percent equity in Sydenham Laboratories, Inc., subject to the approval of the Philippine Stock Exchange and the Securities and Exchange Commission. Sydenham is a manufacturer of hormone-based drugs and specializes in oral drug preparation in dosage forms such as tablet, syrup, capsule,…

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