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Petron plans $500-M perpetual capital securities

MANILA, Philippines - Petron Corp......»»

Category: financeSource: philstar philstarJan 13th, 2018

Petron plans new securities offering

PETRON Corp., the country’s largest oil refining and marketing company, said on Wednesday that it intended to issue new undated securities to repurchase, refinance, or redeem $750 million in undated subordinated capital securities issued in 2013. In a disclosure to the Philippine Stock Exchange (PSE), it said management had been authorized to pursue the solicitation [...] The post Petron plans new securities offering appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsOct 26th, 2017

Petron to raise $500M from offshore securities

PETRON Corp., the largest oil refining and marketing company in the Philippines, is seeking to raise $500 million from the sale of undated unsubordinated capital securities. In a disclosure to the Philippine Stock Exchange (PSE) on Friday, Petron said it had set an issue size of $500 million for the offering of US-dollar denominated senior [...] The post Petron to raise $500M from offshore securities appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJan 12th, 2018

ICTSI to raise $400-M from perpetual notes issue

LISTED International Container Terminal Services Inc. (ICTSI) announced on Thursday that it was raising $400 million from the issuance of senior perpetual capital securities to fund capital expenditure requirements and acquisitions and for general corporate purposes. The securities are being issued by its subsidiary Royal Capital BV and guaranteed by ICTSI. “We report to you [...] The post ICTSI to raise $400-M from perpetual notes issue appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJan 11th, 2018

Metrobank plans stock rights offering

Ty family-led Metropolitan Bank & Trust Co. plans to raise fresh capital to expand its fast-growing loan book, riding on the country's strong macroeconomic prospects. In a disclosure to the Philippine Stock Exchange on Wednesday, the country's second biggest lender said its board had approved a stock rights offering of up to a maximum of 819.83 million common shares equivalent to the remaining unissued shares from it authorized capital stock. "Timing and size of the transaction are subject to other details such as the offer price and are subject to receipt of regulatory approvals as well as market and other conditions," the disclosure said. Metrobank, which has grown its lo...Keep on reading: Metrobank plans stock rights offering.....»»

Category: newsSource:  inquirerRelated News15 hr. 36 min. ago

ABS-CBN, GMA7 too big for SEC’s Herbosa to fight?

LIKE Rappler, two media companies are also partly owned by foreigners. Yet, it seems the government, through the Securities and Exchange Commission (SEC), decided to pick only on Rappler. Unlike Rappler, though, ABS-CBN Holdings Corp. and GMA Holdings Inc., have issued their respective Philippine Depositary Receipts (PDRs), which represent their capital stock, and listed them [...] The post ABS-CBN, GMA7 too big for SEC’s Herbosa to fight? appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJan 16th, 2018

Treasury bills to fetch flat rates

YIELDS on Treasury bills (T-bills) on offer today are likely to move sideways as market players are expected to park their funds in the shorter end of the curve. The Bureau of the Treasury (BTr) plans to raise as much as P20 billion from the short-tenored securities today, broken down into a P9-billion offering for […] The post Treasury bills to fetch flat rates appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 15th, 2018

ICTSI unit to issue $400 M securities

MANILA, Philippines — International Container Terminal Services Inc. (ICTSI) subsidiary Royal Capital B.V......»»

Category: financeSource:  philstarRelated NewsJan 12th, 2018

Marcventures gets SEC go-signal to hike capital

MANILA, Philippines — The Securities and Exchange Commission has approved the increase in authorized capital stock of listed Marcventures Holdings Inc......»»

Category: financeSource:  philstarRelated NewsJan 2nd, 2018

BTr to float P240 B in securities in Q1 2018

MANILA, Philippines — The national government plans to raise P240 billion in fresh money through the issuance of government securities to domestic lenders in.....»»

Category: financeSource:  philstarRelated NewsDec 25th, 2017

Stalzer plans to return to Petron

Lindsay Stalzer may be wearing a svelte white cocktail dress, but in everything that she does volleyball eventually got into the conversation. Petron's talismanic open hitter was in the opening ceremonies of the 43rd season of the PBA to walk as San Miguel's muse, and Stalzer said she plans to return to the Philippine Super Liga Grand Prix in 2018. "I think the plan is to come back for the next Grand Prix, I believe [I'll be back]," said Stalzer Sunday at Smart Araneta Coliseum. "We walked with Petron a little bit and I think they're just putting together a contract so we'll see." Stalzer was instrumental in two of Foton's Grand Prix titles but she wasn't able to replicate h...Keep on reading: Stalzer plans to return to Petron.....»»

Category: newsSource:  inquirerRelated NewsDec 17th, 2017

As Olympics near, South Korea agonizes over post-Games costs

By Kim Tong-Hyung, Associated Press GANGNEUNG, South Korea (AP) — South Korean officials have ruled out turning a state-of-the-art Olympic skating arena into a giant seafood freezer. Other than that, not much is certain about the country's post-Winter Games plans for a host of expensive venues. As officials prepare for the games in and around the small mountain town of Pyeongchang, there are lingering worries over the huge financial burden facing one of the nation's poorest regions. Local officials hope that the Games will provide a badly needed economic boost by marking the area as a world-class tourist destination. But past experience shows that hosts who justified their Olympics with expectations of financial windfalls were often left deeply disappointed when the fanfare ended. This isn't lost on Gangwon province, which governs Pyeongchang and nearby Gangneung, a seaside city that will host Olympic skating and hockey events. Officials there are trying hard to persuade the national government to pay to maintain new stadiums that will have little use once the athletes leave. Seoul, however, is so far balking at the idea. The Olympics, which begin Feb. 9, will cost South Korea about 14 trillion won ($12.9 billion), much more than the 8 to 9 trillion won ($7 to 8 billion) the country projected as the overall cost when Pyeongchang won the bid in 2011. Worries over costs have cast a shadow over the games among residents long frustrated with what they say were decades of neglect in a region that doesn't have much going on other than domestic tourism and fisheries. "What good will a nicely managed global event really do for residents when we are struggling so much to make ends meet?" said Lee Do-sung, a Gangneung restaurant owner. "What will the games even leave? Maybe only debt." ___ TEARING THINGS DOWN The atmosphere was starkly different three decades ago when grand preparations for the 1988 Seoul Summer Games essentially shaped the capital into the modern metropolis it is today. A massive sports complex and huge public parks emerged alongside the city's Han River. Next came new highways, bridges and subway lines. Forests of high-rise buildings rose above the bulldozed ruins of old commercial districts and slums. The legacy of the country's second Olympics will be less clear. In a country that cares much less now about the recognition that large sporting events bring, it will potentially be remembered more for things dismantled than built. Pyeongchang's picturesque Olympic Stadium — a pentagonal 35,000-seat arena that sits in a county of 40,000 people — will only be used for the opening and closing ceremonies of the Olympics and Paralympics before workers tear it down. A scenic downhill course in nearby Jeongseon will also be demolished after the games to restore the area to its natural state. Fierce criticism by environmentalists over the venue being built on a pristine forest sacred to locals caused construction delays that nearly forced pre-Olympic test events to be postponed. Gangwon officials want the national government to share costs for rebuilding the forest, which could be as much as 102 billion won ($95 million). ___ NO FISH Despite more than a decade of planning, Gangwon remains unsure what to do with the Olympic facilities it will keep. Winter sports facilities are often harder to maintain than summer ones because of the higher costs for maintaining ice and snow and the usually smaller number of people they attract. That's especially true in South Korea, which doesn't have a strong winter sports culture. Not all ideas are welcome. Gangwon officials say they never seriously considered a proposal to convert the 8,000-seat Gangneung Oval, the Olympic speed skating venue, into a refrigerated warehouse for seafood. Officials were unwilling to have frozen fish as part of their Olympic legacy. Gangwon officials also dismissed a theme park developer's suggestion to make the stadium a gambling venue where people place bets on skating races, citing the country's strict laws and largely negative view of gambling. A plan to have the 10,000-capacity Gangneung Hockey Center host a corporate league hockey team fell apart. Even worse off are Pyeongchang's bobsleigh track, ski jump hill and the biathlon and cross-country skiing venues, which were built for sports South Koreans are largely uninterested in. After its final inspection visit in August, the International Olympic Committee warned Pyeongchang's organizers that they risked creating white elephants from Olympic venues, though it didn't offer specific suggestions for what to do differently. Cautionary tales come from Athens, which was left with a slew of abandoned stadiums after the 2004 Summer Games that some say contributed to Greece's financial meltdown and Nagano, the Japanese town that never got the tourism bump it expected after spending an estimated $10.5 billion for the 1998 Winter Games. Some Olympic venues have proved to be too costly to maintain. The $100 million luge and bobsled track built in Turin for the 2006 games was later dismantled because of high operating costs. Pyeongchang will be only the second Olympic host to dismantle its ceremonial Olympic Stadium immediately after the games — the 1992 Winter Olympics host Albertville did so as well. ___ 'MONEY-DRINKING HIPPOS' Gangwon has demanded that the national government in Seoul pay for maintaining at least four Olympic facilities after the Games — the speed skating arena, hockey center, bobsleigh track and ski jump hill. This would save the province about 6 billion won ($5.5 million) a year, according to Park Cheol-sin, a Gangwon official. But the national government says doing so would be unfair to other South Korean cities that struggled financially after hosting large sports events. Incheon, the indebted 2014 Asian Games host, has a slew of unused stadiums now mocked as "money-drinking hippos." It would also be a hard sell to taxpayers outside of Gangwon, said Lee Jae-soon, an official from the Ministry of Culture, Sports and Tourism. Unlike the 1988 Olympics and the 2002 World Cup, which were brought to South Korea after bids driven by the national government, the provincial government led the bid for the Pyeongchang games and it did so without any commitment from Seoul over footing the bill. Under current plans, Gangwon will be managing at least six Olympic facilities after the games. These facilities will create a 9.2 billion won ($8.5 million) deficit for the province every year, a sizable burden for a quickly-aging region that had the lowest income level among South Korean provinces in 2013, according to the Korea Industrial Strategy Institute, which was commissioned by Gangwon to analyze costs. Hong Jin-won, a Gangneung resident and activist who has been monitoring Olympic preparations for years, said the real deficit could be even bigger. The institute's calculation is based on assumptions that each facility would generate at least moderate levels of income, which Hong says is no sure thing. He said that could mean welfare spending gets slashed to help make up the lack of money. South Korea, a rapidly-aging country with a worsening job market and widening rich-poor gap, has by far the highest elderly poverty rate among rich nations, according to Organization for Economic Cooperation and Development figures. If Seoul doesn't pay for the Olympic facilities, and Gangwon can't turn them into cultural or leisure facilities, it might make more sense for Gangwon to just tear them down. Park said the national government must step up because the "Olympics are a national event, not a Gangwon event.".....»»

Category: sportsSource:  abscbnRelated NewsDec 15th, 2017

7 NCAA teams, 1 UAAP squad competing in D-League

Seventy percent of the NCAA will also be duking it out in the 2018 PBA D-League Draft. Colegio de San Juan de Letran, College of St. Benilde, Emilio Aguinaldo College, Jose Rizal University, Lyceum of the Philippines University, San Sebastian College-Recoletos, and University of Perpetual Help of the NCAA are set to see action in the Aspirants Cup tipping off on January 18 at Pasig’s Ynares Sports Arena. The Knights will be back in the tournament for the first time since 2015. Joining the developmental league again is all for, well, the development of the Intramuros-based squad with grand plans of contention for the next NCAA season. “Kailangan naming magka-experience in preparation for next season. Ang focus namin is yung bonding namin,” head coach Jeff Napa said. With the graduation of stalwart Rey Nambatac, Letran will be parading a rejiggered lineup led by Jerrick Balanza, JP Calvo, and Bong Quinto and bolstered by transferees Bonbon Batiller, Christian Fajarito, Larry Muyang, and Fran Yu. The Wangs-backed squad will also have a big boost for the D-League in the form of rookies Christian Bunag of Mapua University, Hubert Cani of Far Eastern University, and Henric Caunan of University of Sto. Tomas. The same goal goes for the Generals who have partnered with Batangas. “Para ito sa preparation namin sa NCAA,” mentor Ariel Sison said of his team bannered by Juju Bautista and Jerome Garcia. Only Arellano University, San Beda College, and Mapua did not join from the NCAA. The UAAP will also be represented by Adamson University while three other school-based squads in AMA, Centro Escolar University, and Gamboa Coffee-St. Clare. —- Follow this writer on Twitter, @riegogogo......»»

Category: sportsSource:  abscbnRelated NewsDec 12th, 2017

F2 Logistics books finals berth, rips Cocolife

F2 Logistics unleashed its full force enough to overwhelm Cocolife, 25-17, 25-16, 25-17, Saturday night and reach the championship round of the Chooks to Go-Philippine Superliga Grand Prix at Mall of Asia Arena. Venezuelan reinforcement Maria Jose Perez banged in seven of her 18 points in the third set as the Cargo Movers crushed whatever plans the Asset Managers had of coming back in the match. F2 Logistics thus made its first appearance in a Grand Prix final and will face either Foton or Petron, which were still locked in battle in the other semifinal duel. "We showed today that we are really solid team," said the 29-year-old Perez who played for her country in the 2008 Beijin...Keep on reading: F2 Logistics books finals berth, rips Cocolife.....»»

Category: newsSource:  inquirerRelated NewsDec 9th, 2017

PSE to take over DW Capital brokerage

THE Philippine Stock Exchange, Inc. (PSE) said it had been mandated to take over the operations of stock brokerage firm DW Capital, Inc. as stated in a resolution issued by the Securities and Exchange Commission (SEC). It said the SEC resolution dated Dec. 5, 2017 called for the takeover of DW Capital “effective immediately” pursuant… link: PSE to take over DW Capital brokerage.....»»

Category: newsSource:  manilainformerRelated NewsDec 9th, 2017

PSE to take over DW Capital brokerage

THE Philippine Stock Exchange, Inc. (PSE) said it had been mandated to take over the operations of stock brokerage firm DW Capital, Inc. as stated in a resolution issued by the Securities and Exchange Commission (SEC). It said the SEC resolution dated Dec. 5, 2017 called for the takeover of DW Capital “effective immediately” pursuant […] The post PSE to take over DW Capital brokerage appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsDec 8th, 2017

Pacquiao launches bid to unearth Chinese boxing stars

Filipino boxer Manny Pacquiao hopes to unearth the next Chinese world champion and help grow the sport with an academy in the largely untapped country. The 38-year-old, who controversially lost his World Boxing Organization (WBO) welterweight title to Australian Jeff Horn in July, was in Beijing this week. He and Chinese sports-development firm Dancing Sports held a signing ceremony that included plans to build a Manny Pacquiao International Boxing Academy in the capital, the company said. Zhou Wenxin, chairman of Dancing Sports, said their tie-up would deepen Chinese-Philippine relations in boxing and beyond. The academy will draft in coaches from abroad to help develop ...Keep on reading: Pacquiao launches bid to unearth Chinese boxing stars.....»»

Category: newsSource:  inquirerRelated NewsDec 7th, 2017

Ayala Land spending ‘may’ hit P100B in 2018

PROPERTY giant Ayala Land, Inc. (ALI) said on Thursday that its capital expenditure (capex) next year may reach P100 billion as the company continues with its expansion plans. “Our capex [for 2018]should be bigger than this year judging with the kind of activity we have this year,” ALI Chief Finance Officer Augusto Bengzon told reporters [...] The post Ayala Land spending ‘may’ hit P100B in 2018 appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsNov 24th, 2017

SEC to impose 20% minimum public float next month

In a bid to attract more investments into the capital market, the Securities and Exchange Commission (SEC) will double the minimum public float requirement for companies planning to conduct an initial public offering (IPO) to 20 percent starting next month......»»

Category: newsSource:  interaksyonRelated NewsNov 22nd, 2017

Regulators eye wider virtual currency use

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 consider this so-called virtual currencies [...] The post Regulators eye wider virtual currency use appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsNov 22nd, 2017

Embattled Toshiba to boost capital by $5.3-B share issuance

TOKYO, Japan – Embattled Japanese conglomerate Toshiba said Sunday, November 19, it plans to raise $5.3 billion by issuing new shares, a move aimed at avoiding a humiliating delisting from the Tokyo bourse. A board meeting on Sunday decided on the move, it said. Toshiba will issue 2.28 ........»»

Category: newsSource:  rapplerRelated NewsNov 20th, 2017