RSS

Category Archives: Corporate News

Globe Forms Holdings Firm for Non-Core Businesses

Globe Telecom, Inc. (GLO) is spinning off its new and strategic businesses into a new wholly owned holding company. The company’s board of directors has approved the creation of a wholly owned holding company wherein the new and strategic businesses would be consolidated.

See all awesome STOCK REPORTS in PinoyInvestor! (size 468x80)
Be a smart stock investor. Get Fundamental and Technical Analyses from PinoyInvestor!

The creation of the holding company aims to provide more focus on developing and growing its new and strategic businesses. This will allow globe to venture into strategic non-core business, but still leveraging on our strengths as a telco.

So far, the company cannot provide details about the new company due to regulatory policies.

Advertisements
 
Leave a comment

Posted by on June 18, 2015 in Corporate News, GLO, Stock Market

 

FLI plans PHP 8-billion bond issue

Filinvest Land (FLI) is returning to the debt market this year to raise as much as PHP 8 billion to refinance debt and partly fund capex requirements.

The company would offer PHP 5 billion worth of unsecured fixed-rate retail bonds with an oversubscription option of up to PHP 3 billion.

See all awesome STOCK REPORTS in PinoyInvestor! (size 468x80)
Be a smart stock investor. Get Fundamental and Technical Analyses from PinoyInvestor!

Net proceeds of as much as PHP 7.91 billion from the sale of 7- and 10-year bonds due 2022 and 2025, respectively, will be used to refinance liabilities and bankroll the development of its residential, commercial and office leasing projects.

 
Leave a comment

Posted by on June 18, 2015 in Corporate News, FLI, Stock Market

 

Cebu Pacific Buying 16 ATR Planes for $673.0 million

Cebu Air Inc. (CEB) is spending $673 million to acquire 16 more brand new aircraft from Toulouse-based turboprop aircraft maker ATR to meet the growing demand for inter-island services in the Philippines.

The acquisition of 16 ATR72-600 is in line with the low cost carrier’s vision of providing affordable air travel. Cebu Pacific has been operating ATR aircraft since 2008 enabling the budget airline to bring safe, reliable, and affordable air transport to smaller cities and islands throughout the Philippines.

See all awesome STOCK REPORTS in PinoyInvestor! (size 468x80)
Be a smart stock investor. Get Fundamental and Technical Analyses from PinoyInvestor!

The transaction would double the airline’s turboprop fleet size. It currently operates a fleet of 8 ATR 72-500 aircraft that would be retired as the new aircraft enter service.

Cebu Pacific is undertaking a $4 billion fleet renewal program. It is scheduled to take delivery of 7 more Airbus A320 and 30 A321neo between this year and 2021.

It has a fleet of 55 aircraft composed of 10 A319, 31 A320, six Airbus A330, and eight ATR-72 500 aircraft.

 
Leave a comment

Posted by on June 18, 2015 in CEB, Corporate News, Stock Market

 

SSI Group Steps Up Store Expansion Plan

SSI Group, Inc. (SSI) is pursuing its aggressive store expansion until next year, hiking its spending program this year and allocating PHP 1.7 billion for 2016.

The company is setting aside PHP 1.7 billion to add 16,000 to 17,000 square meters of retail space to its existing portfolio of 138,000 sqm for 2016.

See all awesome STOCK REPORTS in PinoyInvestor! (size 375x192)
Make SMART investment decisions! Be guided by top stockbrokers in the Philippines!

In addition, the company is raising its capital spending budget this year to over PHP 2 billion from an earlier planned amount of PHP 1.5 billion.

The increase in 2015 capex entails SSI an additional 5,000 sqm expansion from the former plan of 16,000 sqm.

Out of the planned 21,000 sqm of retail space planned for 2015, SSI already opened 23 new stores covering 4,106 sqm of additional selling space in the first quarter of the year.

For 2016, taking into account the schedule of the landlords, we’re looking at 16,000 sqm that’s committed to open next year assuming there will be no delays.

 
Leave a comment

Posted by on June 17, 2015 in Corporate News, SSI, Stock Market

 

VLL raises $300-Million via debt offer

Vista Land & Lifescapes Inc. (VLL) raised $300 million from the sale of 7-year corporate notes through its subsidiary VLL International Inc.

It is the first 7-year tenor notes offered under its $1b debut medium term note program.

The bonds has a nominal rate of 7.375%.

See all awesome STOCK REPORTS in PinoyInvestor! (size 375x192)
Make SMART investment decisions! Be guided by top stockbrokers in the Philippines!

Proceeds from the offering “will primarily be used for refinancing, general working capital purposes and other general corporate purposes.”

The unsecured notes were issued as part of the com-pany’s liability management exercise designed to extend its US dollar notes due 2018 and 2019.

 
Leave a comment

Posted by on June 17, 2015 in Corporate News, Stock Market, VLL

 

Tags: , ,

Solar Philippines, MWIDE affiliate target completion of three projects by December

A joint venture between Solar Philippines Inc. and Megawide Construction Corp. (MWIDE) targets to install 3 solar projects with a combined 190 MW of capacity by December.

The JV company is Citicore Solar Philippines Power Project Holdings.

One of the projects, the 60-MW Calatagan solar farm, is ready to start construction.

See all awesome STOCK REPORTS in PinoyInvestor! (size 375x192)
Make SMART investment decisions! Be guided by top stockbrokers in the Philippines!

The second project, which will be built in Central Luzon, will have a capacity of 90 MW.

The company is securing permits for the projects, with construction slated for August.

The third project could produce 40 MW.

The company has ordered the equipment for construction, even before securing permits and reaching financial closure.

 
Leave a comment

Posted by on June 17, 2015 in Corporate News, MWIDE, Stock Market

 

URC bares big plans for Griffin’s

Universal Robina Corporation (URC) plans to bring New Zealand’s iconic Griffin’s brand not only within the boundaries of Southeast Asia but to the rest of Asia as well.

Stock Picks, Target Prices and Buy/Hold/Sell Recommendations! (size 468x60)
Make SMART investment decisions! Be guided by top stockbrokers in the Philippines!

URC president and CEO Lance Y. Gokongwei said the company is currently developing a business plan and a strategy on how to turn Griffin’s into a premium brand in Asia.

 
Leave a comment

Posted by on June 16, 2015 in Corporate News, Stock Market, URC