ANGELICA BALLESTEROS, TMT

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LISTED Eagle Cement Corp. is targeting net income of P6.5 billion in 2018 as it expects its third production line in San Ildefonso, Bulacan to be operational by then. Revenues next year are expected to hit P23 billion with gross profit of P10 billion. “[Growth] will continue because line three…

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SAN Miguel Brewery Inc. (SMB) will start work on its new production plant in Los Angeles, California in the next few months as it looks to cater to the American market. Ramon Ang, president and chief executive officer of San Miguel Corp. (SMC), said the company has already acquired a…

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DEL Monte Pacific Ltd. (DMPL) said on Wednesday that it had secured the approval of the Securities and Exchange Commission to issue the second tranche of its dollar-denominated preference shares. DMPL is set to issue the remaining 16 million preference shares at $10 per share, which would allow the company…

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Regulators are taking further steps that could expand the use of virtual currencies, with the Securities and Exchange Commission (BSP) considering allowing their use in raising capital and the Bangko Sentral ng Pilipinas (BSP) looking to allow more exchanges to operate in the country. “The direction is for us to…

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THE Securities and Exchange Commission (SEC) has approved a higher minimum public float of 20 percent, to be implemented initially for companies looking to list at the Philippine Stock Exchange (PSE). “By increasing it … we expect more liquidity. More liquidity means that we are more attractive to investors and…

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The local stock market bucked a regional rally on Tuesday, retreating back into the 8,200 level with investors said to be looking for news that would spur buying. The bellwether Philippine Stock Exchange index (PSEi) shed 32.79 points or 0.39 percent to close at 8,289.19, while the wider All Shares…

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THE Securities and Exchange Commission (SEC) has approved SBS Philippines Corp.’s plan to incorporate a new company that would undertake the acquisition of a warehouse facility complex. In a disclosure, SBS said it received on Monday the SEC approval to incorporate Lence Holdings Corp. “The new subsidiary is intended to…

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VILLAR-LED Vista Land and Lifescapes, Inc. said on Tuesday it successfully priced $350 million worth of bonds due 2024 through its wholly-owned subsidiary VLL International, Inc. Vista Land said it would issue the $350 million bonds on November 28. Proceeds will be used to refinance its existing debt notes that…

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SYDNEY, Australia: West Zone concessionaire Maynilad Water Services, Inc. said it may build a third water treatment plant at its Putatan facility in Muntinlupa City if the planned Kaliwa Dam project in Quezon province is not constructed by 2021. In a news briefing, Maynilad Chief Operations Officer Randolph Estrellado said…

SHARES OUTLOOK FOR THE WEEK:

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Surprisingly strong third quarter growth results are expected to figure in stock market trading this week after initially being ignored by investors. “We had very positive GDP (gross domestic product) numbers come in and I think we are going to see a positive effect on the index in the following…

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