Stock News 2013: RCBC raises $150 M

Rcbc plaza (Photo credit: Wikipedia)

Rizal Commercial Banking Corp. has completed a $150-million equity deal meant to boost capital adequacy ahead of the implementation of the Basel 3 framework.

The $150 million worth of RCBC shares were sold at a price per share of P64 in an overnight deal that was 3.2 times oversubscribed, RCBC head of strategic initiatives John Deveras said on Thursday morning.

The deal was priced at a 4.5 percent discount to RCBC’s closing price of P67 per share on Wednesday.

Of the total issue, $100 million consisted of primary shares while $50 million were secondary shares, Deveras said.

This follow-on equity deal is part of the bank’s $430-million capital-raising strategy to prepare for stringent capital adequacy requirements under the Basel 3 framework, which introduces a complex package of reforms designed to improve the ability of banks to absorb losses, extend the coverage of financial risks and have stronger firewalls against periods of stress.

The equity deal was arranged by Credit Suisse, Deutsche Bank, Macquarie Capital and Maybank ATR Kim Eng Financial Corp.

RCBC earlier signed a fresh $100-million equity infusion deal with International Finance Corp. and likewise unveiled plans to issue $130 million worth of Basel 3-compliant hybrid notes by the third quarter.

The bank grew its net profit last year by 24 percent to P6.21 billion on higher interest and fee-based income, and hefty treasury gains. This translated to a return on equity of 15.52 percent and a return on assets of 1.77 percent.

http://business.inquirer.net/111067/rcbc-raises-150-m-to-improve-capital-adequacy

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Stock Analysis 2010: EEI Corporation

INDUSTRIALS SECTOR | CONSTRUCTION & ENGINEERING INDUSTRY
EEI CORPORATION
(EEI:Philippines)

As of 12:01 AM 08/19/10 All times are local (Market data is delayed by at least 15 minutes).

SNAPSHOT OF EEI CORPORATION (EEI)

OPEN $3.90		PREVIOUS CLOSE $3.89
DAY HIGH $3.94		DAY LOW $3.88
52 WEEK HIGH 06/21/10 - $4.15		52 WEEK LOW 08/19/09 - $2.20
MARKET CAP 4.0B		AVERAGE VOLUME 10 D 1.5M
EPS TTM $0.54		SHARES OUTSTANDING 1.0B
EX-DATE 09/1/10		P/E TTM 7.2x
DIVIDEND $0.10		DIVIDEND YIELD 2.57%
K = Thousands  M = Millions  B = Billions

INDUSTRY ANALYSIS

Valuation	EEI	Industry Range
Price/Earnings	7.0x
Price/Sales	0.7x
Price/Book	1.2x
Price/Cash Flow	6.5x
TEV/Sales	0.2x
EEI

EEI DETAILS

EEI Corporation, together with its subsidiaries, operates as a construction company that provides general contracting and specialty construction services in the Philippines and internationally. The company engages in the installation, construction, and erection of power generating and transmission facilities; oil refineries; chemical production plants; cement plants; food and beverage manufacturing facilities; semiconductor assembly plants; road, rail, and bridge infrastructures; and high rise landmarks. It also engages in the trading of construction materials and equipment; maintenance and operations of industrial facilities; rental, repair, and maintenance of construction equipment; and fabrication and production of equipment systems for building. In addition, the company offers marine vessel building and repair services; light steel and other structural marine-related fabrication works services, as well as builds, rehabilitates, and operates diesel, gas turbine, steam power plants, and other power generating power plants. Further, EEI Corporation engages in property investment and development; trading industrial equipment and supplies; providing manpower supply and recruitment, service contracting and outsourcing, consultancy, and management services; and selling supplies and materials. It serves building and property development, infrastructure, mining and cement, communications, food processing, packaging products, and other manufacturing industries. The company was founded in 1931 and is based in Quezon City, the Philippines. EEI Corporation is a subsidiary of House of Investments, Inc.

Detailed EEI:PM Company Description...
www.eei.com.ph
16,557 Employees
Founded in 1931

EEI TOP COMPENSATED OFFICERS

No compensation data is available at this time for the top officers at this company.
Executives, Board Directors

KEY DEVELOPMENTS FOR EEI CORPORATION (EEI)

EEI Corp. expected to report Q2 2010 results on August 21, 2010. This event was calculated by Capital IQ (Created on August 14, 2010).
08/14/2010
EEI Corp. expected to report Q2 2010 results on August 21, 2010. This event was calculated by Capital IQ (Created on August 14, 2010).

EEI Corp. expected to report Fiscal Year 2010 results on March 19, 2011. This event was calculated by Capital IQ (Created on June 27, 2010).
06/27/2010
EEI Corp. expected to report Fiscal Year 2010 results on March 19, 2011. This event was calculated by Capital IQ (Created on June 27, 2010).

EEI Corp., Annual General Meetings, Jun 18, 2010
04/30/2010
EEI Corp., Annual General Meetings, Jun 18, 2010., at 02:06 GMT Time. Location: RCBC Plaza.

http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=EEI:PM

Stock News 2010: EEI posts P136-million profit

Image by mindfrieze via FlickrLISTED construction firm EEI Corp. has posted relatively flat profit in the second quarter as a decline in service revenues tempered the double-digit growth of its main construction business.
In a filing, the Yuchengco-led firm said net income grew 1.3 percent to P136.32 million. The company said first-half net income grew 5.8 percent to P308.56 million.
Based on its financial statement, EEI’s revenues grew at a slower pace to P1.64 billion, from 1.69 billion the second quarter of 2009. First-half revenues likewise declined 5.71 percent to P3.12 billion from its year-ago level as the service income fell almost 53 percent.
Construction contracts, which accounted for 75 percent of revenues during the first semester, rose 19 percent to P2.35 billion. Costs were also contained as service revenues dropped EEI said.
EEI said it remains “confident” on its year-end targets. “The company continues to pursue new prospects for both local and foreign-based projects as there appears to be renewed opportunities in mining, power, and other industrial construction,” EEI said. The company expects growth will continue to come from projects in the Middle East.  
During the first semester, the company won contracts for an additional  project in Naia Expressway and its related road project, package 4C Phase I for Department of Public Works and Highways and the construction of the RCBC Savings Bank and Corporate Center in Fort Bonifacio.
It was also awarded the contract to build the Sun Residences of SM Development Corp. in Quezon City, the construction of the Phoenix Semiconductor Plant in Clark, Pampanga, and the atmospheric storage facilities for Petron Corp.
Miguel R. Camus

August 18, 2010 19:36

http://businessmirror.com.ph/index.php?option=com_content&view=article&id=29111:eei-posts-p136-million-profit&catid=24:companies&Itemid=59

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