For the seventh straight year, Security Bank has won the 2011 “Best Securities House” also known as the Cesar EA Virata Award, given annually by the Philippine Dealing System Holdings Corp. and Subsidiaries group for the banking category.
First Metro Investment Corp. bagged the Cesar EA Virata award for the newly created investment house category.
The awards were named in honor of former Prime Minister Cesar Virata, a veteran banker who was a key proponent of the establishment of the fixed-income trading platform in the country now operated by PDS’ unit, Philippine Dealing and Exchange Corp.
For the bank category, the award is given to a bank trading participant that had an “exceptional” performance in trading, distribution and settlement activities. Security Bank has won this award every single year since the annual PDS awards started in 2006.
The newly created category for investment house is given to an investment house trading participant that had an exceptional performance in trading and distribution as well as in the origination, underwriting and market-making of outstanding listed corporate securities.
http://business.inquirer.net/53133/security-bank-first-metro-bag-virata-awards
Showing posts with label security bank. Show all posts
Showing posts with label security bank. Show all posts
Wednesday, April 11, 2012
Wednesday, November 5, 2008
Stocks News 2008: Cityland seeks SEC approval to sell P1B in short-term debt
Image via WikipediaMANILA, Philippines - Listed property developer Cityland, Inc. sought regulatory approval Tuesday to sell short-term commercial paper to the public worth P1.15 billion, a bulk of which will be used to pay off maturing debts.The firm told the Securities and Exchange Commission it planned to use P770 million of the proceeds to settle loans worth P1.03 billion as of June 30.
Of the debts, about 86% are composed of commercial paper issued on Dec. 17. The rest is owed to Amalgamated Bancorporation and Security Bank Corp., the company said.
Cityland said it also intends to use over a quarter of the proceeds to finance its 39-storey mixed-use condominium project called The Manila Residences.
It said it would spend the money on the project over 12 months. The balance will be used to pay for interest on the notes.
Cityland said it would offer almost three-fourths of the commercial debt paper to general public, while the balance would be made available to big investors.
The company said the debt paper would be offered in four equal tranches, the first to start as soon as gets approval from the commission.
Cityland said the notes would mature in a year and would have a rate of 6.88%. It said the proceeds of the sale would not be used to acquire property within the next twelve months.
Cityland also sought an exemption from getting an underwriter for the offer, saying it was capable of selling the debt paper on its own.
The real estate developer said that it would renew the maturing debts to financial institutions if it does not raise the money from the offering.
The company, formerly known as Statehouse Development Corp., acquires and develops land for mixed-use medium- and high-rise buildings in Makati City and Mandaluyong City.
It also sells affordable houses in Pasig City and residential subdivisions and farm lots in Bulacan and Cavite.
Cityland is the developer of the Pasig Royale Mansion, Oxford Mansion, Windsor Mansion and Brentwood Mansion. Launched on Aug. 21, the newest Brentwood Mansion will rise along Evangelista St., New Santolan in Pasig City.
It is a 12-storey commercial and residential building with features and amenities such as a clubhouse and swimming pool, and 24-hour security.
11/05/2008 | 01:14 AM
http://www.gmanews.tv/story/131378/Cityland-seeks-SEC-approval-to-sell-P1B-in-short-term-debt
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
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