Investing Stocks in Philippines: filinvest land

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Saturday, May 19, 2012

Stock News 2012: EEI profit jumps 81% to P215M in Q1

quezon city memorial circle (Photo credit: happy via)
Yuchengco-led construction firm EEI Corp. jacked up its net income by 81 percent in the first quarter this year to P215 million on higher revenues from work contracts.

In a financial report submitted to the Philippine Stock Exchange, EEI said consolidated revenues surged 94 percent to P3.27 billion, with construction contracts growing 89 percent to P2.48 billion.

Meanwhile, revenues generated from services more than doubled to P744.5 million.

During the period under review, EEI won P4.31 billion worth of contracts, which include the Novotel Manila Hotel of Araneta Center Hotel Inc. in Quezon City, Green Residences of SM Development Corp. in Manila, Eastwood LeGrand 3 of Megaworld in Quezon City, and the Levels condominium of Filinvest Land in Alabang, Muntinlupa.

The company also bagged contract packages of Didipio process plant for Oceana Gold Phils in Nueva Vizcaya, the asphalt plant facility for Petron and the autocalve installation works for the Taganito project in Surigao del Norte.

Under construction is the P2.84-billion Berth 6 of the Manila International Container Terminal. Under a joint venture with Hanjin Heavy Industries & Construction Co. for global port operator International Container Terminal Services (ICTSI).

Overseas, EEI’s 49-percent owned Al Rushaid Construction Co. Ltd. is currently building the Samco Acrylic under Samsung, the Saudi Aramco Manifa project, and the Saudi Aramco Mobil Refinery clean fuels project.

As of end-March this year, EEI’s domestic backlog, which represents portions of existing contracts that have yet to be completed for local construction projects, had a net selling price of P14.24 billion.

The combined backlog of all overseas projects amounted to an equivalent of P8.32 billion, making the total backlog of the company worth P22.56 billion. This is 15 percent lower than the total backlog in the same level in 2011.

EEI said the government’s declaration of a more aggressive pursuit of Public-Private Partnership (PPP) projects could provide good opportunities for growth in many industries which may directly impact the construction industry.

http://www.philstar.com/Article.aspx?articleId=808347&publicationSubCategoryId=66

Thursday, October 18, 2007

Stock News 2010: 3 Companies To Join Key Stock Index

Image via WikipediaMANILA, Philippines--Geothermal power producer PNOC Energy Development Corp. and property firms Filinvest Land Inc. and Robinsons Land Corp. will be added to the benchmark Philippine Stock Exchange index (PSEi) on Nov. 16, the PSE said.
The PSE said it had reviewed the index components from July 1, 2006 to June 30, 2007.
It will remove Security Bank Corp. and Manila Mining Corp. from the PSEi. With the addition of three, the PSEi will consist of 30 companies.
To be eligible for inclusion in the PSEi, a company must have the following: a free float level of at least 10 percent; liquidity or average daily trading value of at least P5 million; volume turnover ratio of at least 10 percent; tradability of at least 95 percent of the total trading days; and free float market capitalization.
PSE president Francis Lim said in a statement that in 2005 the PSE decided to do a regular free float-based review of the indices as part of a program to encourage more companies to expand their ownership and help the stock market grow.
“The absence of a regular index review breeds complacency among the listed companies. Such complacency does not benefit the market or the listed companies,” Lim said.
Based on the PSE’s latest review, all the six sector indices -- financial, industrial, holding firms, property, services, mining -- will also undergo changes in composition.
Asiatrust Development Bank Inc., CitisecOnline.com. Inc., and the PSE’s own listed stock will be added to the financial index. To be removed will be Equitable PCI Bank after its merger with Banco de Oro Universal Bank (now renamed Banco de Oro-EPCI Inc.).
Companies in the industrial index will increase 19 from 13 with the addition of Alliance Tuna International Inc., Chemrez Technologies Inc. (formerly Corro-Coat Inc.), Picop Resources Inc., PNOC-EDC, Republic Cement Corp., and Trans-Asia Oil and Energy Development Corp.
Companies in the holding firms index will increase to 21 from 12 with the inclusion of 10 and removal of one, Unioil Resources and Holdings Co. Inc. The additions will be Abacus Consolidated Resources and Holdings Inc., Alcorn Gold Resources Corp., Alsons Consolidated Resources Inc., Eton Properties Philippines Inc. (formerly Balabac Resources & Holdings Co. Inc.), House of Investments Inc., Minerales Industries Corp. (formerly Multitech Investments Corp.), Pacifica Inc., Prime Orion Philippines Inc., Sinophil Corp., and Wellex Industries Inc.
Nine companies will be added in the “property index” while one (Kuok Philippine Properties Inc.) will be dropped. The additions will be A Brown Co. Inc., Ever Gotesco Resources & Holdings Inc., Fil-Estate Land Inc., Interport Resources Corp., Metro Pacific Investments Corp., MRC Allied Industries Inc., Shang Properties Inc., Suntrust Home Developers Inc., and Uniwide Holdings Inc.
The services index will have four new companies: Asian Terminals Inc., Ionics Inc., ISM Communications Corp., and Premiere Entertainment Productions Inc.
To the mining and oil index will be added Basic Energy Corp. and United Paragon Mining Corp.
http://www.robinsonsoffices.com/Oct-dec2007.html

Wednesday, October 17, 2007

Stock News 2007: Philippine Stock Exchange PNOC-EDC in, Manila Mining out

Image via WikipediaMANILA, Philippines -- Geothermal power producer PNOC Energy Development Corp. and property developers Robinsons Land Corp. and Filinvest Land Inc. will become constituents of the 30-company composite index of the Philippine Stock Exchange by November 16, the bourse said Wednesday.
Manila Mining Corp. and Security Bank will be excluded from the main index following the PSE's regular review of the market indices, it said in a notice to brokers.
The key index has 29 constituents at present, after Banco de Oro Universal Bank merged with Equitable PCI Bank, another index constituent, early this year.
Enrico dela Cruz
October 17, 2007

http://www.robinsonsoffices.com/Oct-dec2007.html