Philippine Stock Exchange Index (PSEi)- Wrap Up Report – December 15, 2016

MANILA, Philippines – The Philippine Stock Exchange Index (PSEi) dropped by 73.03 points or 1.05 percent to close at 6,855.31. This was a day after the FED meeting which decided to increase rates for the first time this year. The index dropped as low as 6,837 in the first...

Manulife Discloses Preferred Shares Conversion

MANILA, Philippines – Manulife Financial Corporation (PSE:MFC) discloses that it has taken into account its December 5-received election notices for the conversion of its eight million Non-cumulative Floating Rate Class 1 Shares Series 5 into Non-cumulative Floating Rate Class 1...

Bermaz Auto Submits IPO Application Next Semester

MANILA, Philippines – BERMAZ Auto Bhd (BAuto) submits its application for initial public offering (IPO) of its subsidiary in the Philippines, which may take place next semester and total up to P1.24 billion. Bursa Malaysia, the Mazda distributor in Malaysia and the Philippines,...

DoubleDragon Successfully Lists Bonds on PDEx Board

MANILA, Philippines – DoubleDragon Properties Corp. (PSE:DD) successfully lists its 10-year fixed rate retail bonds in the local bourse due 2026. After its maiden issuance of retail bonds, the company’s fiscal position now stands with P5.3 billion. The delivery of assets exceeded...

Federal Reserve Post-Meeting Poses Higher Hike Chances

Chances of more interest hikes in June 2017 increase after the meeting of Federal Reserve yesterday, which also marked the raise in rates alongside the projection of next year’s three increases. The CME Group FedWatch probability for June interest rate increase next year climbed...

San Miguel Bond Issuance Gets PRS Aaa Rating

MANILA, Philippines – San Miguel Corporation (PSE:SMC) gets a rating of PRS Aaa for its fixed-rate bond issuance worth P15 billion with an oversubscription option of up to P5 billion. Philippine Rating Services Corporation (PhilRatings) assigned the issue credit rating to SMC...

Pilipinas Shell to Upgrade Tabangao Refinery

MANILA, Philippines – Pilipinas Shell Petroleum Corporation (PSE:SHLPH) discloses its decision to carry out the upgrade of its Tabangao Refinery. In a disclosure to the Philippine Stock Exchange (PSE), Erwin R. Orocio, Pilipinas Shell Corporate Secretary, stated that the...

Federal Reserve Implements Second Hike in 10 Years

As the United States’ economy shows recovery, Federal Reserve officials approved the second interest rate hike in 10 years, which is the first for this year. Meanwhile, more increases are anticipated in 2017. The stock market remained composed, whereas the U.S. dollar and...

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