ANGELICA BALLESTEROS, TMT

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SBS Philippines Corp. said on Monday that it was hiking its stake in subsidiary Lence Holdings Corp. via the acquisition of additional shares for a total consideration of P351 million. The company told the Philippine Stock Exchange it would subscribe to an additional 52 million shares priced at P6.7625 apiece…

SHARES OUTLOOK FOR THE WEEK:

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The stock market could trade above 9,000 this week if foreign investors continue to load their portfolios, an analyst said. The benchmark Philippine Stock Exchange index (PSEi) broke past 9,000 on Friday, adding 42.03 points or 0.47 percent or close at 9,041.20, its 7th all-time high for the year. The…

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CIRTEK Holdings Philippines Corp. is setting aside up to $8 million or about P400 million for capital expenditures (capex) this year to further expand its production capacity. “The [big] chunk is really more for expanding our capacity as we seek Quintel [Cayman Ltd.] ramp-up. As we expect Quintel sales to…

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PROPERTY developer Megaworld Corp. is adopting a new standard by tapping digital technology for future township developments. In a statement over the weekend, Megaworld said it would digitalize future projects through what it called the “iTownships” program as well as incorporate design innovations and connectivity to mixed-use projects. Among the…

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THE stock market finally cracked the 9,000 level on Friday as investors loaded up on equities ahead of month-end window-dressing. The benchmark Philippine Stock Exchange index added 42.03 points or 0.47 percent to close at 9,041.20, its 7th all-time high for the year following Thursday’s peak of 8,999.17. The wider…

HITS NEW RECORD

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Last-minute buying pushed the stock market closer to breaching the 9,000 level on Thursday, with investors said to have been heartened by revisions to the International Monetary Fund’s (IMF) global growth forecasts. The benchmark Philippine Stock Exchange index (PSEi) notched its sixth record high for the year, adding 78.94 points…

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JOHN Gokongwei’s property arm Robinsons Land Corp. has officially set the price of its planned stock rights offering at P18.20 per share. Earlier this year, the company announced plans to raise P20 billion via a stock rights offer, with the proceeds to be used to finance its new projects, particularly…

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DMCI Homes is launching the second building of its Infina Towers project in Quezon City following strong demand from property buyers. In a statement, the Consunji-led company said it will start pre-sales today of Infina Towers-South, a two-building development located across the LRT-2 Anonas Station, which will cater to start-up…

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Investors turned to profit-taking on Wednesday with the benchmark Philippine Stock Exchange index down 0.88 percent or 78.79 points to close at 8,920.23. The broader All Shares dipped 0.17 percent or 8.92 points to end at 5,205.69. Eagle Equities, Inc. research head Chris Mangun said there was a technical pullback…

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LISTED technology firm Cirtek Holdings Philippines Corp. is venturing into the e-commerce sector following its acquisition of MultiPay, a provider of back-end and front-end payment solutions. In a news conference on Wednesday, Cirtek Group President and Vice-Chairman Roberto Juanchito Dispo said Cirtek had concluded the purchase of a 49 percent…

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