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GREED IS GOOD! : Philippine Stock Market (Stock Traders Lounge)

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  • DAILODAILO Member PExer
    e-KONG buys into Manila-based k2ia

    Hong Kong listed e-KONG group is to buy up to 15 percent of Manila-based k2 Interactive (k2ia) in a bid to tap into the latter’s expertise on cross-media solutions.

    e-KONG says k2ia, an internet company offering front-end systems integration, will support e-KONG’s service portals such as ZONE1511 and speedinsure.

    k2ia is the dominant cross-media solutions provider in the Philippines, providing front-end web solutions to major companies such as the Ayala Group, AT&T, IBM, Microsoft, Pepsi Philippines and Unilever.

    k2ia managing director, Sigfredo Tinga says k2ia is in talks with CLSA for a listing either in Hong Kong or on Nasdaq by the middle of next year and hopes to achieve a valuation of between $300 to $500 million before listing. “But first we have to be able to grow the business. We might also have a second round of financing involving other strategic investors,” he explains.
  • DAILODAILO Member PExer
    ImpactNET Forms Strategic Partnership with Lycos Asia

    Philippine Internet users can now … access everything…

    Manila, Philippines August 22, 2000 ImpactNET, the Philippine’s fastest growing Internet Service Provider of Singapore based Impact Digital Media Group (IDMG) today announced a strategic partnership with Lycos Asia, a US$50 million joint venture between US-based Lycos, Inc and Singapore Telecom.

    Under the agreement with ImpactNET, Lycos Asia will be powering the ISP’s website in the Philippines. The site of ImpactNET will be upgraded over the next few months to leverage the synergy of content and community with access and infrastructure. This in turn will form a solid foundation for the emerging commerce market in the Philippines.

    Ms. Mary Ong, CEO, Lycos Asia said today,” We strongly believe in bringing Asian users the most exciting and fulfilling on-line experience available today. Localization is key in our endeavor to engage a culturally diverse audience in Asia. We have demonstrated that we have done well in all the countries that we have launched and are entering the Philippines with the same goal in mind.”

    "We are constantly evaluating what we provide on our website and continuously adding features that are appealing and responsive to our users needs," said Mr. Rodney Banzon Consunji, Senior Managing Director of the ISP, ImpactNET and Vice President – Business Development of IDMG. "By partnering with Lycos Asia, it will increase the depth and breadth of the relevant content and services available to our users."

    In addition to content, Lycos Asia will offer its world-class Internet services and tools that facilitate web navigation and encourage community building. These include Lycos powered search engine, local directories, free web-based email and web-building services. Tripod Asia’s free homepage-building site provides an easy way for both consumers and businesses to build their own content and Web pages, and encourage relationships and activities around their own communities of interest. MailCity Asia’s free web-based email services enables users to communicate and collaborate with each other throughout the global medium.

    "We are happy about this partnership with ImpactNET as it marries the best of our respective strengths as providers of Internet access and Internet content and services. This synergy allows us to not just effectively deliver our rich content to a much wider customer base but also gives us the leverage to attract more and varied content and product partners. This, in turn, translates into a greater variety of customized content and services for the benefit of our users." said Ms Ong.

    “We at the Impact Digital Media Group are constantly evaluating what we provide on our websites and continuously adding features that are appealing and responsive to our users needs. With ImpactNET partnering with Lycos Asia, it will increase the depth and breadth of the relevant content and services available to our users. We are excited about these new developments... and we are determined to help you make the most of them. That's what "ImpactNET - access everything..." is all about... bringing more people into the world of interactive services, and making the online experience an even more valuable part of people's lives,” said Mr. Consunji.

    The Philippine Internet industry and e-commerce environment is currently in an exciting phase of its development. The Internet user population and PC penetration are fast growing. The audience is young, dynamic, multi-lingual and well educated. It is important for us to establish ourselves here early in our growth. The time is right for us to make the investment that we need to build our presence, and integrate with the regional communities to develop the most compelling on-line experience that the Internet users here deserve. This also positions us well to expand very quickly into the rest of Southeast Asia in the near future.

    “We'll continue to enhance IDMG and make the promise of "ImpactNET - access everything..." a reality, and while we'll continue to build our network so we can meet your needs and also the needs of our partners, employees, and shareholders, we realize we shoulder a responsibility that transcends improving our services and bettering our company. We recognize we need to take proactive steps now to ensure that we build a medium we can be proud of... a medium that has a positive "impact" on society. A medium only made possible by our partnership with Lycos Asia. “ said Mr. Consunji

    “We have only just begun to dream about how this medium is going to transform our lives and our society. It's a new world, and it's going to require fresh, bold thinking. At ImpactNET, we are excited by the challenges and the prospects, and we look forward to delighting you with new products, services and experiences. Our partnership with Lycos Asia is evidence that we are committed to constantly raising the bar and bringing you with us into a new world of even greater interactivity and connectedness. “ said Mr. Consunji.
  • leiraleira Member PEx Icon 🎖️🎖️🎖️
    greed can sometimes give you good returns in the stock market, but most of the time, it's the reason for people losing a lot of money. trust me, i've been there. sometimes, if you see a good rise in prices, it's good to sell at that high and not HOPE that it would go higher.

    if you want good tips in the stock market, and update in stocks, you could go to this website : (url)www.citiseconline.com(/url)
  • DAILODAILO Member PExer
    Hello PExRs... i'm back!

    GREED IS GOOD! :D:D:D
  • DAILODAILO Member PExer
    Philippines not to sell agriculture bonds this year

    The announcement earlier in the week that the Department of Agriculture (DA) was to sell $300 million of eurocurrency-denominated bonds to pay for 14 irrigation projects through Deutsche Bank, this was flatly contradicted by the Department of Finance (DoF).

    In a statement, finance under-secretary Joel Banares said, “International bond financing of the Philippines government has been completed for this year…. [We] are not planning to issue Eurobonds to finance its [DoF] irrigation projects.”

    The DA said the proposal had been submitted to DoF. However, Banares said that the department hadn’t received a proposal and that the DA’s budget was met by the government.

    Referring to the cancelled euro transaction of April he said, “Even the republic is unable to borrow from the euro market at this time.”
  • DAILODAILO Member PExer
    SingTel plans more acquisitions

    Singapore Telecommunications (SingTel) says it will continue exploring “win-win” investment opportunities in the region.

    The Indonesian government has said that it would invite some of the world’s biggest telecommunications companies, including SingTel, to invest in its soon-to-be liberalised telecommunications sector.

    SingTel declined to comment on the Indonesian government’s overture and specific investments that it is considering, but has revealed its plan to eventually link up its mobile investments in various parts of the region to enhance services to its customers. “We are working to form a regional cellular network by grouping the 4.8 million subscribers of SingTel Mobile and [those of] our associates — Globe Telecom of the Philippines, Advanced Info Services of Thailand and the Bharti Group of India. Our combined subscribers can then benefit from preferential roaming arrangements and cheaper handsets, for example, as a result of greater discounts on bulk purchases,” says a SingTel spokesman.
  • DAILODAILO Member PExer
    Philippine assets sale in October

    The Philippine government will auction a 4.8-hectare plot of land in Makati, the country’s financial district and its stakes in tollway operator Philippine National Construction and Philippine Phosphate & Fertilizer next month, says Renato Valdecantos, head of the state-owned Asset Privatisation Trust. The government hopes to raise Ps22 billion ($484 million) in asset sales this year to ease its budget deficit, but has so far generated only Ps1.9 billion.
  • DAILODAILO Member PExer
    The Government is expecting some USD2billion in foreign direct investments, including a USD750million inflow to San Miguel Corp and another USD300million from French retailers.

    These investments should help improve the peso-dollar rate by year-end and beef up the country’s dollar reserves.
  • DAILODAILO Member PExer
    The Bankers Association of the Philippines and Investment Houses Association of the Philippines jointly plan to establish an organised market for fixed-income securities that may take the form of a formal exchange. BAP representatives met with top Securities and Exchange Commission officials to push for
    the creation of an organised platform for fixed income issues that would facilitate the listing, registration, trading and settlement of the securities and ensure compliance, professionalisation and accreditation of respective brokers, dealers and market makers.

  • DAILODAILO Member PExer
    Eastern Telecommunications Philippines Inc is expecting an increase of more than 700% in its data business to USD15million by the end of the year from only USD2million in
    1999. The company was aiming to remain the leading company in the data business. Earnings would come from the Internet business (USD5million) and the leased line business (USD10million).


  • DAILODAILO Member PExer
    Globe Telecom Inc will install 300 additional digital cell sites on top of its more than 800 fully functional sites to facilitate better and seamless communication among Globe Handyphone subscribers. In North Luzon, the new cell sites will be distributed from Manila to Rosario, La Union; Tarlac to San Jose City in Nueva Ecija; San Fernando City in Pampanga to Olongapo City; and Manila to Laoag City.
  • DAILODAILO Member PExer
    Despite initial hitches, PhilWeb.Com Inc and the Catholic Bishops Conference of the Philippines expect to open up their Internet kiosks before the year end, squashing rumours that the joint project was allegedly bogged down due to insufficient funds. The project was delayed by initial problems
    concerning viability and profitability of certain proposed locations.
  • DAILODAILO Member PExer
    Smart Communications Inc may have to pay rebates to its subscribers once the National Telecommunications Commission finishes its evaluation of complaints filed against the cellular company. The commission is set to wrap up its investigation of complaints against Smart in two weeks.
  • DAILODAILO Member PExer
    Ayala Corp’s IT arm, iAyala has ventured into the academy for incubation activities. It has recently inked an agreement with University of the Philippines for the lease of a property space for its IT efforts. iAyala, through Ayala Foundation signed the memorandum of agreement with the state university last May.
  • DAILODAILO Member PExer
    Acting as receiver of closed Urban Bank, the Philippine Deposit Insurance Corp will file this week the third batch of cases against former Urban Bank officers. PDIC, together with Bangko Sentral ng Pilipinas, has already finished the third batch of cases and will file it early this week at the Department of Justice which will then conduct a preliminary investigation

    on the cases.
  • DAILODAILO Member PExer
    Philippine dive 2.64% to five-week low as risks rise

    Manila, Sept. 14 -- Philippine shares closed at their weakest level in five weeks Thursday after a massive sell-off by both local and foreign players amid rising political and economic risks in the country, brokers said. The Philippine 30-share composite stock index gave up 39.25 points, or 2.64%, to settle at 1,450.15 points.

    Brokers said a continually falling peso, climbing interest rates and an international hostage situation in southern Philippines that has gone haywire fueled the selling pressure.

    "With all these threats around us, definitely investors will sell their stocks since cash is still king," said Astro del Castillo, analyst at A&A Securities.

    The peso slid to a new 32-month low of 45.950 against the U.S. dollar in morning deals Thursday from Wednesday's 45.690 close largely weighed down by weaker currencies in the region according to traders. At 0511 GMT, the pair was bid at 45.805.

    Central bank Governor Rafael Buenaventura denied the central bank was intervening to prevent a further slide of the peso as dealers claimed but said its options on whether it will intervene again remain open.

    Jeanette Yu-Tan, analyst at Securities 2000, says the weak peso is continuing to feed fears that the central bank may be tempted to raise its key overnight rates anew after raising them by 100 basis points Monday, a move that is seen to fuel another round of increase in lending rates of banks.

    Buenaventura said the policy-making Monetary Board will decide on whether it will increase its overnight rates Friday adding that adjusting the 12% reserve requirement on banks' deposits may also be considered.

    But Joseph Roxas, president of Eagle Equities, believes the government should first solve the hostage situation in Mindanao where the Muslim militant group Abu Sayyaf is still holding several foreign and local captives.

    "The Abu Sayyaf is holding the whole country hostage. The dollar/peso is moving up because of that and investors in equities are scampering for safety," he said.

    The market's value turnover stood at 1.25 billion pesos (U.S. $27.3 million) from about PhP1.4 billion Wednesday.

    Declines led advances, 78 to 13 with 28 issues closing at previous day's prices.

    Most blue chips were hit by the selling binge including JG Summit Holdings, Petron Corp, Equitable PCIBank, Benpres Holdings Corp, Manila Electric Co, Ayala Corp, Ayala Land Inc, SM Prime Holdings, San Miguel Corp, Metropolitan Bank and Trust Co (Metrobank), Philippine Long Distance Telephone Co (PLDT) and Bank of the Philippine Islands.

    PLDT shares lost 15 pesos to 780 pesos while Metrobank shares shed three pesos to 169 pesos. Ayala Corp shares gave up 20 centavos to close at 6.80 pesos while its property unit, Ayala Land dropped 10 centavos to 4.80 pesos.

    A&A Securities' del Castillo says he expects market players to take their cue Friday from the dollar/peso's behavior and a planned blockade by militant groups of oil depots to protest rising oil prices.

    But he said the key stock index may head towards the next major support of 1,400 points if another sell-off transpires.
    -- BridgeNews
  • DAILODAILO Member PExer
    The Philippine Stock Exchange has approved the request of Equitable PCI Bank Inc. (Q.EQB) to extend the life and listing status of the bank's warrants for two years to Dec. 31, 2002 from Dec. 31, 2000. The approval is subject to the consent of Equitable PCI shareholders and warrant holders. JG Summit Holdings Inc. (Q.JGS) said Friday its wholly-owned unit, Express Holdings Inc., has acquired an additional 403,000 shares and 400,000 shares of Universal Robina Corp. (Q.URB) at 5.10 pesos ($1=PHP45.648) and PHP5 a share, respectively. Express Holdings purchased 150,000 shares of JG Summit itself for PHP2.70 a piece. Universal Robina is a food manufacturing subsidiary of JG Summit.
  • DAILODAILO Member PExer
    Petron secures 120 mln usd three-year term loan facility

    MANILA (AFX-ASIA) - Petron Corp said it has signed a 120 mln usd three-year term loan facility agreement with the Singapore branch of Norddeutsche Landesbank Gironzentrale.

    In a disclosure to the stock exchange, Petron said coordinating arrangers for the agreement were Chase Manhattan Asia Ltd, Citicorp International Ltd, ING Barings Asia Ltd and Saudi American Bank.

    Petron said that Chase Manhattan Bank acted as agent.

    No other details were disclosed.

    At 9:44 am, Petron was unchanged at 1.14 peso.

  • DAILODAILO Member PExer
    EEI unit Philrock to raise capital to 500 mln pesos

    MANILA (AFX-ASIA) - EEI Corp said its unit Philrock Inc has been authorised by its board of directors to raise its capital to 500 mln pesos from 200 mln to pave the way for the entry of strategic investors.

    In a statement submitted to the stock exchange, EEI said it will inject additional equity of 282.6 mln pesos into its horizontal construction unit.

    Philrock is active in road construction projects in Mindanao and currently undertaking the 46-kilometre Maramag-Kibawe road project in Bukidnon. The contract value of Philrock projects in Mindanao total more than 800 mln pesos.

    Apart from the projects in Mindanao, Philrock is also currently completing the 380 mln pesos Aritao-Allacapan road rehabilitation project in the northern Cagayan province.

    EEI is a unit of House of Investments.

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