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Daily Navigator 17 April 2013

Daily Navigator 11 Apr 2013

Daily Navigator 02 Apr 2013

Daily Navigator 25 Mar 2013

Daily Navigator 21 Mar 2013

Daily Navigator 18 Mar 2013

Daily Navigator 11 Mar 2013

DAILY & WEEKLY NAVIGATOR
Daily Navigator 17 April 2013
HIGHLIGHTS
Corporate
ALI – Ayala Land buys out minority investor for office space portfolio
SMPH – SM Prime 1Q12 profit growth decelerates slightly on slower revenue growth
more
Daily Navigator 11 Apr 2013
HIGHLIGHTS
Corporate
MEG – Megaworld plans to go back to foreign debt markets
Economy
Exports contract anew in February
more
Daily Navigator 02 Apr 2013
HIGHLIGHTS
Corporate
PSE – Phil. Stock Exchange offers online trading platform to crowded market
Economy
Yields on Treasury bills fall to new lows
more
Daily Navigator 25 Mar 2013
HIGHLIGHTS
Earnings
GMA7 – GMA Network 4Q12 net profit plunges
ALI/ACR – Alsons partners with Ayala Land for Davao project
LTG – LTG Group to cap consolidation strategy with equity deal
FDC – Filinvest Group raises capital with bond offering
more
Daily Navigator 21 Mar 2013
HIGHLIGHTS
Corporate
MCP – Melco Crown plans equity capital issuance
PSB – PSBank gives 2013 profit guidance
PNB – Government lawyers petition against PNB–Allied Bank merger
BRN – A Brown signs supply agreement; intends to build new Mindanao... more
Daily Navigator 18 Mar 2013
HIGHLIGHTS
Corporate
PSE – Philippine Stock Exchange earnings decline in 4Q12
AP – Aboitiz secures longer–term ancillary contracts
MER – Meralco to refund customers on PSALM overcharging
FPH – First Phil. Holdings to redeem 2008 preferred... more
Daily Navigator 11 Mar 2013
HIGHLIGHTS
Corporate/Earnings
PIP – Pepsi reports continued strong profit growth on the back of low sugar prices; stock is overvalued and deserves to be sold
more
Daily Navigator 07 Mar 2013
HIGHLIGHTS
Corporate/Earnings
SM – SM Investments reports better–than–consensus earnings in 4Q12; retail slows down
RLT – Philrealty announces plans for major Bonifacio Global City project
SMC – San Miguel announces changes to its business... more
Daily Navigator 04 Mar 2013
HIGHLIGHTS
Corporate/Earnings
PGOLD – Puregold sustains strong profit growth in 4Q12; other issues
EDC – Energy Development shuts down Bac–Man plant barely a week after activation
more
Daily Navigator 01 Mar 2013
HIGHLIGHTS
Corporate
PX – Philex reports net loss in 4Q12; liquid assets sufficient for next ten to 12 months
BLOOM/SMDC – Bloomberry replaces SM Development in PSE benchmark index
more
Daily Navigator 27 Feb 2013
HIGHLIGHTS
Corporate/Earnings
HLCM – Holcim’s earnings growth surges in 4Q12; optimistic over 2013 prospects; Maintain Buy
PX – DENR allows Philex to restart operations at shut mine but only temporarily
AGI – Alliance Global asks for debt covenants changes but... more
Daily Navigator 22 Feb 2013
HIGHLIGHTS
Corporate/Earnings
DNL – DNL Industries profit margin expansion offsets commodity price decline; Briefing inputs and results to drive assumption upgrades; Maintain BUY rating and TP.
more
Daily Navigator 12 Feb 2013
HIGHLIGHTS
Corporate/Earnings
SMPH/SMDC/SM – Our comments on plan to merger SM Development and SM Prime

more
Daily Navigator 19 Feb 2013
HIGHLIGHTS
Corporate/Earnings
SMPH – SM Prime 4Q12 net profit growth accelerates; 2012 slightly better than consensus
CPG – Century Properties to develop office and hotel project in BGC
SMC/SMB – San Miguel sets tender offer price for brewery unit delisting
more
Daily Navigator 18 Feb 2013
HIGHLIGHTS
Corporate/Earnings
PX/PXB – Philex agrees to pay environmental penalty in full; Philex Petroleum wins contract for Palawan oil and gas field
DMC/SCC – Semirara accident may post temporary challenges for company and DMCI
Economy/Sector
Overseas... more
Daily Navigator 15 Feb 2013
HIGHLIGHTS
Corporate/Earnings
JFC – Jollibee core earnings surges in 4Q12 but reported net profit weaker on write–off
more
Daily Navigator 12 Feb 2013
HIGHLIGHTS
Corporate
MIC – Minerales serves as backdoor listing of waste management company
GTCAP – SEC approves issuance of GT Capital medium–term bonds
Economy/Sector
Vehicle sales surge in Jan13
more
Daily Navigator 08 Feb 2013
HIGHLIGHTS
Corporate
MER/AP – CA dismisses environmental complaint against Meralco Subic coal project
PSB – Phil. Savings Bank reports profit growth in 2012
Sector
Infrastructure – PPP extends deadline for NAIA expressway; DOTC pursues nationalization of... more
Daily Navigator 06 Feb 2013
HIGHLIGHTS
Corporate
TEL – PLDT sells controlling stake in BPO subsidiary
Economy
Inflation accelerates in Jan13 with higher excise taxes
more
Daily Navigator 05 Feb 2013
HIGHLIGHTS
Corporate
DNL – “Cooking up faster growth”, Initiating Coverage for DNL Industries – BUY
ICT – ICTSI acquires major port concession in Latin America
SECB – Security Bank net profit contracts in 4Q12
more
Daily Navigator 31 Jan 2013
HIGHLIGHTS
Economy/Sector
BIR targets 25% increase in 2013 tax collections
Infrastructure – DOTC may relax bidding restrictions on Mactan–Cebu airport project
more
Daily Navigator 30 Jan 2013
HIGHLIGHTS
Corporate
MER/GTCAP – Meralco partners with Global Power to pursue Mindanao power projects
LR – Leisure Resorts World to issue preferred shares to finance planned investments
Sector
Banking – Central Bank relaxes DOSRI loan limits
more
Daily Navigator 29 Jan 2013
HIGHLIGHTS
Corporate
RFM – RFM prepaying debt with asset sale proceeds
PX/PXP – DOE extends Forum exploration license
ICT – ICTSI to issue second tranche Medium Term Note
more
Daily Navigator 24 Jan 2013
HIGHLIGHTS
Corporate
SMC – San Miguel starts capital management restructuring with bond buyback
MPI – Metro Pacific issues shares for private placement
RLC – Robinsons targeting six project launches for 2013
more
Daily Navigator 23 Jan 2013
HIGHLIGHTS
Corporate
PNB – Phil. National Bank and Allied Bank merger to push through next month
Economy
Fitch Ratings favorable report supports potential upgrade of Philippines’ credit rating
more
Daily Navigator 21 Jan 2013
HIGHLIGHTS
Corporate
SMC/MPI – San Miguel and Metro Pacific agree on connector road compromise deal
PNB – Phil. National Bank secures more regulatory approvals for Allied Bank merger
MJC/MJIC – Manila Jockey secures new investors for San Lazaro project
more
Daily Navigator 18 Jan 2013
HIGHLIGHTS
Corporate
JGS – JG Summit issues USD bonds at low cost
PX – Philex requests to operate Padcal temporarily
more
Daily Navigator 17 Jan 2013
HIGHLIGHTS
Corporate
ALI – Ayala launches major community development project in Makati
MPI – Metro Pacific in discussions with airport operator as partner
Economy
OFW remittances maintain growth trajectory in Nov12
more
Daily Navigator 16 Jan 2013
HIGHLIGHTS
Corporate
PX – DENR denies Philex’s appeal on Padcal penalties
RLC – Robinsons Land’s net profit shrinks in FY 4Q12
Infrastructure – DOTC sticks to its guns on airline owner restriction
more
Daily Navigator 15 Jan 2013
HIGHLIGHTS
Corporate
AGI – Alliance Global’s distillery purchases brandy company in Spain
PGOLD – Puregold continues expansion by buying small supermarket chain anew
more
Daily Navigator 14 Jan 2013
HIGHLIGHTS
Corporate
SM/Property – Supreme Court issues TRO against Bonifacio South bidding
JGS – JG Summit plans debt issue
more
Daily Navigator 11 Jan 2013
HIGHLIGHTS
Corporate
ICT – ICTSI initiates debt program with oversubscribed first tranche
GTCAP – GT Capital sells shares via private placement
Economy/Market Commentary
SEC likely to issue less strict guidelines on foreign ownership
Exports... more
Daily Navigator 10 Jan 2013
HIGHLIGHTS
Corporate
ICT – ICTSI plans debt program for medium term financing requirements
SMC – San Miguel to publicly list power generation company soon
PX/PXP – Philex coal mine suspends operations
more
Daily Navigator 09 Jan 2013
HIGHLIGHTS
Corporate
AEV/UBP – Aboitiz sells stake in City Saving Bank to Union Bank
CPG – Century Properties approves buyback program
VMV – Victorias Milling has new investor
more
Daily Navigator 08 Jan 2013
HIGHLIGHTS
Corporate
SM/PGOLD – SM Investments partners with Waltermart Group
MPI/MWC – Metro Pacific buys stake in Manila Water’s bulk water project
more
Daily Navigator 28 Dec 2012
HIGHLIGHTS
Corporate
MPI – Metro Pacific sets investment in Cavite Tollway convertible bonds
Economy
Aquino’s public net satisfaction ratings declines in Dec12
BSP issues Basel III capitalization guidelines
Fiscal deficit contracts in Nov12
more
Daily Navigator 27 Dec 2012
HIGHLIGHTS
Corporate
BLOOM – Global Gaming exercises option to buy stake in Bloomberry
LOTO/BCOR – Pacific Online enters legal tussle between PCSO and Phil. Gaming Mgmt.
Economy
BSP sets limits NDF transactions of banks to curb speculation
more
Daily Navigator 21 Dec 2012
HIGHLIGHTS
Corporate
MPI – Metro Pacific seen to invest in Cavite toll road operator; plans new debt issuance
Economy
BSP extends special SBL for PPP; S&P upgrades Philippine credit rating outlook
more
Daily Navigator 20 Dec 2012
HIGHLIGHTS
Corporate
RCB – Rizal Commercial Bank to secure additional capital via private placement ahead of Basel 3 implementation
FDC – Filinvest Development public float increases with secondary sale of shares
more
Daily Navigator 18 Dec 2012
HIGHLIGHTS
Corporate
SMC – San Miguel proposes reopening of Philnico’s mine with additional refinery
AC – Ayala buys stake in Mariveles power generation company
Economy
Overseas remittances and BIR collections continue to accelerate
more
Daily Navigator 17 Dec 2012
HIGHLIGHTS
Corporate
SM – SM Group allocates US$732mn for 2013 investments
GMA7 – GMA Network expects to miss 2012 profit target
BPI/PNB – Lucio Tan reportedly vetoes BPI–PNB merger
Sector
Consumer/PIP – Coca–Cola FEMSA buys... more
Daily Navigator 14 Dec 2012
HIGHLIGHTS
Corporate
SM/MPI – SM Group targets NAIA Expressway project with Metro Pacific; looks at geothermal exploration
IMI – IMI Electronics pays shares for European acquisitions
more
Daily Navigator 12 Dec 2012
HIGHLIGHTS
Corporate
FLI – Filinvest Land pays first tranche of 2009 debt
SMDC – SM Development changes strategy; to offer new product
Economy
Exports carve out small gain in October
more
Daily Navigator 11 Dec 2012
HIGHLIGHTS
Corporate
MIH/MIHB – Melco Entertainment secures Philippine backdoor listing option via Manchester International
ACR – Alsons sells stake in Sarangani power plant
Sector
Media – Senate approves bill that recapitalizes government station and... more
Daily Navigator 10 Dec 2012
HIGHLIGHTS
Corporate
AC/AEV/ALI – Ayala–Aboitiz partners with global airport operator; Ayala Land launches Raffles and Fairmont hotels, secures Cavite property development
MER – Meralco to pay interest on customer bill deposits
MWIDE – Megawide consortium... more
Daily Navigator 07 Dec 2012
HIGHLIGHTS
Corporate
TA – Trans–Asia increases capital with new private placement
ABS/LPZ – SEC approves reclassification of ABS shares to voting preferred
Economy
BSP moves to counter rapid appreciation of peso
more
Daily Navigator 06 Dec 2012
HIGHLIGHTS
Corporate
GLO – Globe hikes tender offer price for Bayantel debt to maximum
LTG – LT Group moves to acquire Asia Brewery
PCOR – Petron retirement plan sells large block of Petron shares to Credit Suisse
Economy
Inflation decelerates in... more
Daily Navigator 05 Dec 2012
HIGHLIGHTS
Corporate
DMC – DMCI plans new investments in power and mining
AGI – Alliance Global plans higher capex in 2013
SMC – San Miguel awaits bidding for Asian gas project
more
Daily Navigator 04 Dec 2012
HIGHLIGHTS
Corporate
MPI – Metro Pacific acquires seventh hospital for its growing portfolio
CEB – Cebu Pacific also considering wet lease option to offer long–haul US flights
FMIC/MBT – First Metro funds planned ETF
MER/AP – RP Energy secures... more
Daily Navigator 03 Dec 2012
HIGHLIGHTS
Corporate
SMC/MPI – Citra to shoulder build cost of shared segment of NLEx–SLEx connector roads
ALI – Ayala Land launches luxury condominium tower in Ayala Center
MER – Meralco to invest in new generation capacity in Mindanao
Economy more
Daily Navigator 29 Nov 2012
HIGHLIGHTS
Corporate
RLT – Philrealty moves to develop Bonifacio Global City mixed–use project
Economy
Philippine economic growth accelerates in 3Q12; Reflects reasons to buy Holcim and D&L
more
Daily Navigator 28 Nov 2012
HIGHLIGHTS
Corporate
IPO – D&L sets IPO price at P4.30; our initial valuation and comments
RLT – Philrealty intent on exiting rehabilitation by 2013; focuses on new projects
more
Daily Navigator 27 Nov 2012
HIGHLIGHTS
Corporate
PNB/BPI – Moody’s says PNB–Allied credit ratings to benefit with BPI merger
URC – Universal Robina to diversify into power generation
more
Daily Navigator 26 Nov 2012
HIGHLIGHTS
Corporate
PX – Philex says clean–up will cost them P1.0bn
SMC/MPI – San Miguel proposes traffic–based sharing scheme for connector road cost; partnering with Citra Group for holding company
more
Daily Navigator 23 Nov 2012
HIGHLIGHTS
Corporate
PX – Environment regulators deny Philex appeal on waste spill penalty
AC – Ayala invests in JV with Vietnamese infrastructure company
TEL – PLDT issues debt for refinancing
more
Daily Navigator 22 Nov 2012
HIGHLIGHTS
Corporate
BPI/PNB – More thoughts on BPI–PNB acquisition and why a successful deal means we should buy BDO Unibank
GLO – Globe Telecom extends deadline for Bayantel debt tender offer
more
Daily Navigator 21 Nov 2012
HIGHLIGHTS
Corporate
BPI/PNB – Bank of Phil. Islands buying Philippine National Bank
Economy/Sector
Senate approves sin–tax bill on final reading
Telecoms – Regulator tells cellular operators to payback customers for SMS overcharging
more
Daily Navigator 20 Nov 2012
HIGHLIGHTS
Corporate
PXP – Pitkin plans major drilling exploration in Mindoro contract
CMT/LRI – SeaCem considers new options to meet public float requirement
Economy
BIR collections gain strongly in October
more
Daily Navigator 19 Nov 2012
HIGHLIGHTS
Corporate
PX – Decision on Philex’s mine–spill penalties out this week
MPI – Metro Pacific upgraded SCTEx offer gets endorsed by BCDA – again
RLC – Federal investigation into alleged Okada payoffs may discourage possible JV
... more
Daily Navigator 16 Nov 2012
HIGHLIGHTS
Corporate
VLL – Vistaland revenue growth sustained but profit growth decelerates in 3Q12
ABS – ABS–CBN profit reverses from contraction to growth in 3Q12
more
Daily Navigator 15 Nov 2012
HIGHLIGHTS
Corporate
FLI – Filinvest Land profit growth weakens on weaker overseas markets
JFC – Jollibee sustains recurring profit growth in 3Q12
more
Daily Navigator 13 Nov 2012
HIGHLIGHTS
Corporate
PCOR – Petron earnings recover strongly in 3Q12
PF/PFB/SMC –Purefoods to conduct secondary share sale to boost public float
Economy
Treasury bill rates fall to new historical lows
more
Daily Navigator 12 Nov 2012
HIGHLIGHTS
Corporate
PIP – Pepsi earnings surprisingly flat in 3Q12
MWC – Manila Water profit accelerate in 3Q12
PX – Philex secures expansion loan from First Pacific affiliate
ALI – Ayala Land retail venture plans entry into department store... more
Daily Navigator 09 Nov 2012
HIGHLIGHTS
Corporate
SMDC – SM Group profit growth sustained; SMDC earning slowdown on provisions
DMC/ICT – DMCI profits surge in 3Q12 while ICT earnings growth decelerates
SMC – Polish investor buys into San Miguel Packaging
more
Daily Navigator 08 Nov 2012
HIGHLIGHTS
Corporate
ALI – Ayala Land earnings growth sustained in 3Q12; Clearer picture on D/E ratio
GMA7 – GMA Network revenue growth much stronger in 3Q12 but costs are up too
MPIC – Metro Pacific sustains profit growth momentum; looks forward to regional... more
Daily Navigator 06 Nov 2012
HIGHLIGHTS
Corporate
BDO/MBT – BDO Unibank earnings surge in 3Q12; Metrobank profit growth flat
GLO – Globe confirms Bayantel investment talks
ALI – Ayala Land–Rustans retail joint–venture starts with FamilyMart convenience stores
PSE –... more
Daily Navigator 05 Nov 2012
HIGHLIGHTS
Corporate
AC – Ayala’s Daang Hari PPP project plagued by regulatory blunder
PX – Philex reports small 3Q profit despite mining accident
AEV/AP – Aboitiz Group reports sustained profit momentum
more
Daily Navigator 31 Oct 2012
HIGHLIGHTS
Corporate
HLCM – Convergence of plant shutdowns in 3Q12 causes hiccup in Holcim’s earning (Maintain BUY)
BPI – Bank of PI earnings maintain growth trajectory in 3Q12 (Maintain BUY)
RCB – RCBC sells bad assets to IFC SPV
more
Daily Navigator 30 Oct 2012
HIGHLIGHTS
Corporate
MER – Meralco core profit growth slips in 3Q12 as sales volume decelerates
SMPH – SM Prime sustains profit growth trend in 3Q12
Economy
Moodys upgrades Philippine credit ratings; Treasury bill rates fall anew
more
Daily Navigator 29 Oct 2012
HIGHLIGHTS
Corporate
ANI/SM – Agrinurture terminates food supply agreement with SM Group
AP – Therma South secures power supply contract with Davao Light
Economy
BSP cuts policy rates again to new lows
more
Daily Navigator 29 Oct 2012
HIGHLIGHTS
Corporate
ANI/SM – Agrinurture terminates food supply agreement with SM Group
AP – Therma South secures power supply contract with Davao Light
Economy
BSP cuts policy rates again to new lows
more
Daily Navigator 25 Oct 2012
HIGHLIGHTS
Corporate
AC – Ayala secures Volkswagen dealership
MJC – Manila Jockey backs out of investment deal for property project
UBP – Unionbank net profit falls in 3Q12
Economy
Fiscal deficit expands on low revenue growth atop sustained... more
Daily Navigator 24 Oct 2012
HIGHLIGHTS
Corporate
TA – Trans–Asia consolidates energy exploration assets
GTCAP/MBT – GT Capital secures control of Toyota subsidiary from Metrobank
VUL – Vulcan to increase capitalization as National Bookstore plans increased stake
DMC – DMCI... more
Daily Navigator 24 Oct 2012
HIGHLIGHTS
Corporate
TA – Trans–Asia consolidates energy exploration assets
GTCAP/MBT – GT Capital secures control of Toyota subsidiary from Metrobank
VUL – Vulcan to increase capitalization as National Bookstore plans increased stake
DMC – DMCI... more
Daily Navigator 23 Oct 2012
HIGHLIGHTS
Corporate
MJC – Manila Jockey secures equity capital for tourism project
PGOLD – Puregold prices Series A and B of planned corporate bonds
Sector
Infrastructure – DOTC plans buyout of MRT–3 operator; LRT–1 extension gets six... more
Daily Navigator 18 Oct 2012
HIGHLIGHTS
Corporate
RFM – RFM sells processed meats business to competitor; our comments
MPI/TOL – Metro Pacific on business mission to Vietnam
BLOOM – Bloomberry introduces plans to investors in briefing
Sector
Consumer – DOF favors House... more
Daily Navigator 17 Oct 2012
HIGHLIGHTS
Corporate
TEL – PLDT issues voting preferred shares to meet capital definition challenge
MPI/TOL – New petition for NLEx toll hike pushed by MNTC
Economy
Peso tests four–year high; engaging BSP watch
more
Daily Navigator 16 Oct 2012
HIGHLIGHTS
Corporate
TEL – PLDT purchases data center assets of IP Ventures
MPI/TOL – Metro Pacific plans tender offer of infrastructure unit
Economy
Remittances maintain growth pace in August; BIR collection gains but still short of target
more
Daily Navigator 15 Oct 2012
HIGHLIGHTS
Corporate
AC/BPI – Ayala buys half of DBS stake in BPI; deal puts pressure on balance sheet
MBT/FMIC – Metrobank plans tender offer for First Metro and delist subsidiary
more
Daily Navigator 12 Oct 2012
HIGHLIGHTS
Corporate
TEL – Supreme Court affirms definition of capital used to calculate foreign ownership
PX – Philex considers other options to fast–track the reopening of Padcal mine
SMC – Farmers question conversion of San Miguel shares into... more
Daily Navigator 11 Oct 2012
HIGHLIGHTS
Corporate
SM – SM Investments completes major bond issuance
TA/HLCM – Trans–Asia expects plant operations to resume after transfer is complete
Sector/Economy
Banking – SEC set to issue ETF rules; major banks raring to offer first... more
Daily Navigator 09 Oct 2012
HIGHLIGHTS
Corporate
CMT/LRI – Seacem launches tender offer that will enhance Lafarge free float
BRN – A. Brown sells treasury shares to raise capital for investments
Sector
Banking/Property – Regulator asset bubble review focuses on in–house... more
Daily Navigator 08 Oct 2012
HIGHLIGHTS
Corporate
AGI/MEG – Alliance Global exercises in–the–money Megaworld warrants
AC – UK investment fund secures foothold in Ayala Corporation
Economy
Inflation decelerates in September despite higher food prices
more
Daily Navigator 05 Oct 2012
HIGHLIGHTS
Corporate
TEL/GMA7 – PLDT and GMA Network call off acquisition talks
MER – Meralco announces large–scale LNG power plant investment
Sector
Mining – Aquino government tweaks mining policy statement rules; cement industry concerns... more
Daily Navigator 04 Oct 2012
HIGHLIGHTS
Corporate
ALI – Ayala purchase of Kingdom Hotels stake at equity, EV impact could be significant
SM – SM Investments plans USD bond offering
more
Daily Navigator 03 Oct 2012
HIGHLIGHTS
Corporate
ALI – Ayala acquires Kingdom Hotels stake in Ayala Center
TDY – Tanduay acquires controlling stake in Fortune Tobacco

more
Daily Navigator 02 Oct 2012
HIGHLIGHTS
Corporate
ABS/LPZ – ABS–CBN reclassifies common shares into voting preferred shares
PX – Philex seals off leaking tailing pond
Sector
Telecommunications – NTC allows joint–use of frequencies by telcos
more
Daily Navigator 01 Oct 2012
HIGHLIGHTS
Corporate
AEV – Aboitiz acquires parent Cebu property company
MPI – North Luzon expressway operator optimistic over possible toll hike
Sector
Mining – Environment regulator suspends new mining IRR
more
Daily Navigator 28 Sep 2012
HIGHLIGHTS
Corporate
RCB – Rizal Commercial plans hybrid offering to comply with Basel 3
AGI – Sheraton hotels may be put up in Newport City of Resorts World
more
Daily Navigator 27 Sep 2012
HIGHLIGHTS
Corporate
PX – Mining bureau imposes large–but–survivable fine on Philex
more
Daily Navigator 26 Sep 2012
HIGHLIGHTS
Corporate
SMC/TDY – San Miguel and Tanduay confirm airport development project
GLO/BDO/PGOLD – Three companies issue debt/deposit securities for expansion plans
Economy
Imports decline slightly despite strong demand growth from Japan and... more
Daily Navigator 25 Sep 2012
HIGHLIGHTS
Corporate
PX – Philex continues repairs at Padcal, plans new tailing ponds

more
Daily Navigator 24 Sep 2012
HIGHLIGHTS
Corporate
ALI – Ayala leaves Bacolod City project behind; pursues old project in Negros
MEG – Megaworld launches high–end Makati condominium project
SPH – Splash partners with Myanmar local conglomerate for expansion
MWC – Manila... more
Daily Navigator 21 Sep 2012
HIGHLIGHTS
Corporate
AC/BRN – Ayala to buy stake in Brown power subsidiary in Vis–Min region

more
Daily Navigator 20 Sep 2012
HIGHLIGHTS
Corporate
ICT – ICTSI takes on new minority investor
Sector
Mining – Mining industry opposes new rules on mining permits
Airlines – AirAsia considers investment in ZestAir LCC

more
Daily Navigator 19 Sept 2012
HIGHLIGHTS
Corporate
FOOD – Alliance Select Foods plans dual listing in Singapore; potential dilution significant
TDY/ETON – Tanduay absorbs liabilities as part of conglomerate building

more
Daily Navigator 18 Sept 2012
HIGHLIGHTS
Corporate
FOOD – Alliance Select Foods reverses YTD losses in 3Q12

more
Daily Navigator 17 Sept 2012
HIGHLIGHTS
Corporate
SMC/PAL/CYBR – Cyberbay seen as San Miguel’s airport project vehicle
SGP – Foreign worker permits withdrawn for Synergy Grid Chinese engineers

more
Daily Navigator 14 Sept 2012
HIGHLIGHTS
Corporate
RFM – PT Indofood interested in partnership with RFM Corp.
Economy/Sector
Construction – AG&P forms joint–venture with Fluor of Texas
Property – BCDA opts to sell Bonifacio South via competitive bidding

more
Daily Navigator 13 Sept 2012
HIGHLIGHTS
Corporate
RFM – RFM Corp. considers price increases
PCOR – Manila Mayor vetoes ordinance against Pandacan oil depot
GTCAP – GT Capital secures controlling interest in Global Power

more
Daily Navigator 12 Sept 2012
HIGHLIGHTS
Corporate
PX – DENR estimates for spill penalties on Philex rises three–fold
HLCM – Holcim appoints insider as new CEO
Economy
Exports sustain growth in July

more
Daily Navigator 11 Sept 2012
HIGHLIGHTS
Corporate
PX – Philex share prices falling on continuing concerns over mining projects
FOOD – Alliance Select Foods purchases tuna fishing boats

more
Daily Navigator 07 Sept 2012
HIGHLIGHTS
Corporate
PX – Philex plans Silangan opening by 2017; No impact to valuation and rating
EDC – Energy Development strikes off two Peruvian assets from exploration list
CHIB – Chinabank implements stock split
Economy
Banking – BSP... more
Daily Navigator 06 Sept 2012
HIGHLIGHTS
Corporate
OV/OPM – Galoc field reserve expansion seen as imminent
Economy
Inflation picks up significantly in August as supply chain chokes

more
Daily Navigator 05 Sept 2012
HIGHLIGHTS
Corporate
CMT/LRI – SeaCem sale of Lafarge shares to boost latter’s public float status
IP – IPVG discloses potential investment in aquaculture business
TEL – PLDT hasn’t decided on SPI Global sale

more
Daily Navigator 04 Sept 2012
HIGHLIGHTS
Corporate
AP – Prolonged repairs may delay Bakun hydro reopening; Napocor complains to Aboitiz
PX – Philex reports new leak at Padcal mine tail pond
TDY – Court of Appeals favors point of sale tobacco advertising

more
Daily Navigator 03 Sept 2012
HIGHLIGHTS
Corporate
MPI/AC – Metro Pacific–Ayala partnership submits new offer on MRT–3 as regulator leadership changes
LRI/CMT – SeaCem considers property dividend of Lafarge shares
EWB – East West Bank secures Central Bank approval for LTNCD... more
Daily Navigator 31 Aug 2012
HIGHLIGHTS
Corporate
MPI – Metro Pacific submits new offer on SCTEx based on second renegotiation
TDY – Tanduay provides Lucio Tan Group combined earnings and asset estimates
Economy
GDP growth decelerates in 2Q12 as consumption weakens

more
Daily Navigator 30 Aug 2012
HIGHLIGHTS
Corporate
JTH – JTH Davies prepares capital raising activity by November
Economy
Imports demand strengthens in June; Philippine demand for capital equipment improves

more
Daily Navigator 29 Aug 2012
HIGHLIGHTS
Corporate
ALI – Ayala Land explains its FTI strategy; Our comments on the implications of this project

more
Daily Navigator 28 Aug 2012
HIGHLIGHTS
Corporate
MPI/SMC – Metro Pacific’s Subic–Clark expressway and San Miguel’s MRT–7 faces new regulatory risk
SM – SM Investments raises capital via top–up offering
LFG – Lafarge Republic plans capacity boost in 2013 more
Daily Navigator 28 Aug 2012
HIGHLIGHTS
Corporate
MPI/SMC – Metro Pacific’s Subic–Clark expressway and San Miguel’s MRT–7 faces new regulatory risk
SM – SM Investments raises capital via top–up offering
LFG – Lafarge Republic plans capacity boost in 2013 more
Daily Navigator 24 Aug 2012
HIGHLIGHTS
Economy/Sector
Property/Banking – BSP expands scope of property exposure limit of banks
Fiscal deficit expands in July

more
Daily Navigator 23 Aug 2012
HIGHLIGHTS
Corporate
JFC – Jollibee invests in China hotpot chain joint–venture
PGOLD – Puregold upgrades sales growth guidance for 2012
PX – Philex to settle some tax liabilities to host Benguet towns
Market Commentary
Petron replaces Cebu... more
Daily Navigator 22 Aug 2012
HIGHLIGHTS
Corporate
HLCM – Cement industry group reports strong growth in sales volume; nears full capacity
VLL – Vista Land issues first tranche of homebuilder bonds
PX – DENR reports study results on pollution in water reservoir post Philex leak
... more
Daily Navigator 17 Aug 2012
HIGHLIGHTS
Corporate
MWIDE – Megawide secures two PPP projects at Department of Education
Economy
Internal revenue collections sustain growth in July

more
Daily Navigator 16 Jun 2012
HIGHLIGHTS
CorporateHIGHLIGHTS
Corporate
ALI – Ayala Land wins FTI property but does the cost really justify the investment?
VLL – Vista Land sustains strong profit growth momentum in 2Q12
PX – DENR’s initial estimate of Philex environmental damages is... more
Daily Navigator 15 Aug 2012
HIGHLIGHTS
Corporate
SM – SM Group earnings maintain momentum in 2Q12 but concern over retail emerges
GMA7 – GMA Network profit growth recovers on cost control and better ad revenues
MEG – Megaworld posts weaker 2Q12 earnings growth with flat real estate sales... more
Daily Navigator 14 Aug 2012
HIGHLIGHTS
Corporate
ABS – ABS–CBN Broadcasting 2Q net profit contracts anew but better than 1Q
SMC – San Miguel profit margins hit by Petron profit decline; net profit higher in 2Q though

more
Daily Navigator 13 Aug 2012
HIGHLIGHTS
Corporate
AC – Ayala Corporation’s earnings growth decelerates in 2Q12
ICT – ICTSI secures new port in Africa; seeks control of Pakistan port
EDC – Energy’s rehab of Bacon–Manito faces new delays

more
Daily Navigator 10 Aug 2012
HIGHLIGHTS
Corporate
MPI – Metro Pacific earnings growth decelerates in 2Q12
TDY – Tanduay implements equity placement
MBT – Metrobank earnings growth slips in 2Q12
DMC – DMCI Holdings to increase investment in Zambales nickel mine
more
Daily Navigator 09 Aug 2012

MWC – Manila Water earnings growth decelerates in 2Q12 but still above–market

Our strategic thoughts on this week’s floods
more
Daily Navigator 03 Aug 2012
HIGHLIGHTS
Corporate
MER – Meralco’s Subic power project restrained by Supreme Court on environmental rights petition
more
Daily Navigator 02 Aug 2012
HIGHLIGHTS
Corporate
TDY – Tanduay transformation to LT Group: Clarifying our investment opinion
BPI – Bank of Phil. Islands profit growth slows down on lack of trading gains boost
SMDC – SM Development sustains profit growth on continued unit sales

more
Daily Navigator 01 Aug 2012
HIGHLIGHTS
Corporate
TDY – Lucio Tan to fold all key corporate assets into Tanduay transforming it into possibly the seventh largest conglomerate in the Philippines

more
Daily Navigator 31 Jul 2012
HIGHLIGHTS
Corporate
MER – Meralco’s core profit surges in 2Q12 on booking of tax recoveries
SMPH – SM Prime sustains profit growth in 2Q12

more
Daily Navigator 27 Jul 2012
HIGHLIGHTS
Corporate
PX/PXP – Philex’s 2Q earnings fall sharply on rising expenses and lower ore grade
MBT – Metrobank plans redemption of Tier–2 capital
Economy
BSP cuts key policy rates as expected

more
Daily Navigator 26 Jul 2012
HIGHLIGHTS
Corporate
DMC/MPI – Marubeni investment in Maynilad nears completion; valuations disclosed
ABS – SkyCable of ABS–CBN may be listed
Economy
SWS Survey reveals new decline in public satisfaction of government
Imports growth recovers... more
Daily Navigator 25 Jul 2012
HIGHLIGHTS
Corporate
SMC/PAL – San Miguel plans new equity infusion to fund airline fleet expansion
Economy
Central Bank indicates potential rate cuts to offset currency strength

more
Daily Navigator 24 Jul 2012
HIGHLIGHTS
Corporate
EDC – Energy decides to drop two Chilean geothermal projects
Market Commentary/Economy
President’s SONA: Mostly performance review, No new economic programs launched

more
Daily Navigator 23 Jul 2012
HIGHLIGHTS
Corporate
AP – Aboitiz seeks large–scale project financing for Subic and Davao greenfield plants
MWC – Manila Water acquires stake in Vietnam Water company
CEB – Cebu Air renews MRO contract with SIA Engineering
Market Commentary
... more
Daily Navigator 20 Jul 2012
HIGHLIGHTS
Corporate
TOL/SMC/MPI – DPWH petitions for authority over Skyway and Expressway connector road projects; Move may be to protect Metro Pacific connector road project

more
Daily Navigator 19 Jul 2012
HIGHLIGHTS
Corporate
AC – Ayala Corporation sells treasury shares; raises funding for new project
DMC – DMC Power to build power plants in Palawan
Sector
Property – Bonifacio regulator plans sale of large Taguig properties

more
Daily Navigator 18Jul 2012
HIGHLIGHTS
Corporate
APX/APB – Gaisano Group invests in Apex Mining; more capital conversion and infusion
ANI – Agrinurture puts on hold Sugarhouse acquisition
Sector
Banking – Central Bank keeps stricter accounting rules for two more years

more
Daily Navigator 17 Jul 2012
HIGHLIGHTS
Corporate
SMC/FPH/ROCK – San Miguel sells Rockwell stake to Lopez Group; plans three power plants for the year
MWC/DMC/MPI – Water companies receive currency adjustments on tariffs
Economy
OFW remittances maintains growth trend and momentum in... more
Daily Navigator 16 Jul 2012
HIGHLIGHTS
Corporate
ELI – Tiger Resorts partners with Empire East
TEL – PLDT surrenders CURE frequency;
PSE – Stock Exchange to consolidate small–cap boards
ANI – Agrinuture to list subsidiary in HK; issue bonds
Economy
Central... more
Daily Navigator 13 Jul 2012
HIGHLIGHTS
Corporate
RLC – Robinsons Land considers operations contract for Tiger Resorts
RFM – RFM Corp. may sell Swifts Foods
PGOLD – Puregold majority shareholder sells block to investors
PNX – Phoenix Petroleum issue corporate notes with... more
Daily Navigator 12 Jul 2012
HIGHLIGHTS
Corporate
AC/ALI – Ayala Land upsizes top–up placement; raises cash for expansion
WEB/TEL – Philweb buys back shares from PLDT
Sector
Banking – Central Bank relaxes SBL rules

more
Daily Navigator 11 Jul 2012
HIGHLIGHTS
Corporate
AC – Ayala Corporation plans block sale of Ayala Land shares equal to 4% of outstanding
GMA7 – Estimated deal price based on reported enterprise value
STR – StarMalls to raise funding via international private placement
Economy more
Daily Navigator 10 Jul 2012
HIGHLIGHTS
Sector
Mining – President Aquino announces mining policy; our comments and analyses

more
Daily Navigator 09 Jul 2012
HIGHLIGHTS
Corporate
BEL/LR – Melco entry into Belle Grand creates ownership structure changes
GMA7 – PLDT deal to buy GMA7 receives a price estimate; TP validated; Maintain Buy
Sector
Banking – Central Bank restricts foreign funds from SDA as peso... more
Daily Navigator 06 Jul 2012
HIGHLIGHTS
Corporate
BEL/LR – Belle partners with Melco of HK for casino project
ALI – Ayala Land breaks ground for Vertis North project
Economy
Inflation decelerates in June

more
Daily Navigator 05 Jul 2012
HIGHLIGHTS
Economy/Sector
Privatization Office offers bulk of FTI property for sale anew; sets qualifying bid price
S&P upgrades Philippine credit ratings; matches first mover Fitch

more
Daily Navigator 04 Jun 2012
HIGHLIGHTS
Corporate
FOOD – Alliance Select Foods buys well known NZ salmon farm
BRN/APX – Monte Oro of A. Brown buys additional stake in Apex Mining
more
Daily Navigator 03 Jul 2012
HIGHLIGHTS
Corporate
AP – Aboitiz signs off on contracts to build Davao power project
BDO – Banco de Oro completes stock rights offering
ROX – Roxas net profit doubles in 8m FY 2013
Sector
Mining – New legislation needed before mining policy is... more
Daily Navigator 29 Jun 2012
HIGHLIGHTS
Corporate
SM – SM Group loses bid to buy into Ortigas & Co.
ALI – Ayala Land launches multiple projects in BGC; Strong sales for high–end project
ROCK/MPI/FPH – PLDT Group sells stake in Rockwell to First Phil. Holdings
more
Daily Navigator 28 Jun 2012
HIGHLIGHTS

Corporate

ICT – ICTSI resumes expansion of Manila Container Terminal

BEL – Belle confirms discussions with Australian–Chinese casino operator for new venture

GMA7 – PLDT Group prepared to offer cash and tender offer for GMA... more
Daily Navigator 27 Jun 2012
HIGHLIGHTS
Economy
Imports demand plunges in April
Fiscal deficit widens in May; revenue collection remains weak more
Daily Navigator 26 Jun 2012
HIGHLIGHTS
Corporate
BLOOM – Bloomberry may acquire regional and domestic casino licenses
CEB – Cebu Air to reduce domestic fuel surcharges
Political Economy/Sector
Philippine Coast Guard eyes Hong Kong freighter behind West Phil. Sea incident
... more
Daily Navigator 21 Jun 2012
HIGHLIGHTS
Corporate
SM – Planned SM Investment retail bonds priced; offer period set next week
Economy/Sector
Mining – Mining Policy statement may be approved by Friday; additional details
LRT Line 2 extension project delayed on population concerns more
Daily Navigator 19 Jun 2012
HIGHLIGHTS
Corporate
LC/LCB – Lepanto’s Far Southeast Gold project FTAA application may be delayed
Sector
Property – DOF plans new auction for FTI property
more
Daily Navigator 18 Jun 2012
HIGHLIGHTS
Corporate
MER – Meralco’s planned Laguna peaking plant may be shelved or changed
Economy/Sector
OFW remittances maintain single–digit growth in April
Energy – Power prices may rise on planned August Malampaya shutdown
Energy –... more
Daily Navigator 14 Jun 2012
HIGHLIGHTS
Corporate
PX/PCOR/MER – Senate finance committee to expand scope of DBP investigation into Petron and Meralco
TA – TransAsia schedules CII power plant transfer to La Union by 3Q1 more
Daily Navigator 13 Jun 2012
HIGHLIGHTS
 Corporate
 SMC – San Miguel plans large debt issue to redeem existing preferred shares; completes Meralco stake purchase
 Sector
Aviation – DOTC instructs local airlines to minimize use of NAIA for safety
more
Daily Navigator 11 Jun 2012
HIGHLIGHTS

Corporate

SM – SM Investments plans issuance of new retail bonds for expansion

Economy/Sector

Political Economy – President Aquino’s popularity ratings fall to new low in May

Banking – Central Bank clarifies... more
Daily Navigator 08 Jun 2012
HIGHLIGHTS
Corporate
MPI/MER/TEL – Metro Pacific acquires Beacon Peferred shares from PLDT Group; PLDT voting preferred shares get SEC approval
more
Daily Navigator 07 Jun 2012
HIGHLIGHTS
Corporate
AT/GTCAP – Atlas enters into off–take deal with Global Power for new power plant
CEB – Cebu Air secures maintenance deal with Rolls Royce
APC – APC Group revives plan to construct cement plant
AEV – Aboitiz partners with... more
Daily Navigator 06 Jun 2012
HIGHLIGHTS
Corporate
PSE – Phil. Stock Exchange inks deal with N2N for online service bureau
PERC – PetroEnergy receives ECC for wind power plant project
Economy
Inflation decelerates slightly in May
more
Daily Navigator 05 Jun 2012
HIGHLIGHTS


Corporate


AC/MPI – Transportation Department initiates bidding process for mass transit extension project





more
Daily Navigator 04 Jun 2012

PX – Senate investigates Ongpin over short–swing profit case involving Philex shares

Banking – BSP allows banks to establish new branches

more
Daily Navigator 01 Jun 2012

1Q12 GDP growth above expectations; our analysis and changes to our strategy

more
Daily Navigator 01 Jun 2012

1Q12 GDP growth above expectations; our analysis and changes to our strategy

more
Daily Navigator 30 May 2012
SMC/SMB – San Miguel may delist San Miguel Brewery

ICT – ICTSI partners with Indonesian port operator

Moody’s upgrades Philippine credit ratings outlook

more
Daily Navigator 31 May 2012

FGEN – FirstGen buys out British Gas partners for less than previous offer

MER – Meralco asks BOI for tax incentives for coal power plant project

more
Daily Navigator 29 May 2012
HIGHLIGHTS
Corporate
PGOLD – Puregold purchases local supermarket chain
BDO – BDO Unibank secures approval for stock rights offering
Economy
GSIS launches infrastructure fund

more
Daily Navigator 28 May 2012
HIGHLIGHTS
Corporate
FPH – Nexolon wants out of JV with First Phil. Holdings; First Pacific of HK intends sale of Rockwell stake to Lopez Group
Economy
Imports demand remains weak in March with small decline

more
Daily Navigator 25 May 2012
HIGHLIGHTS
Economy/Sector
Infrastructure – Aboitiz may pursue airport/water PPP projects; LRT–1 extension faces delays; Air rights over railway line transferred in preparation for Connector Road
more
Daily Navigator 24 May 2012
HIGHLIGHTS
Corporate/Earnings
ALI – Ayala Land partners with Tantoco Group to develop retail arm; Our analysis on why its beneficial to the company; Maintain Buy
Economy/Sector
Infrastructure – Proposals for NLEx and SLEx connection roads presented to Aquino more
Daily Navigator 23 May 2012

ALI – Gatchalian oks JV with Ayala Land; San Lazaro partner transfers property to prepare for hotel project; voting preferred shares to be issued

FOOD – International commission allows limited fishing capacity for Philippines

Treasury rejects 15–year... more
Daily Navigator 22 May 2012

PX – Court may order Ongpin to return Philex trading profits to company

SM/AT – SM Investments hikes stake in Atlas mining following purchase of convertibles

Fiscal surplus achieved in April
 NEDA approves two PPP projects

Airlines – CAB... more
Daily Navigator 21 May 2012
HIGHLIGHTS
Corporate/Earnings
DMC – DMCI Holdings profits gain on strong revenue growth
COL – COL Financial profits surge on clients base expansion, strong market activity
ICT – ICTSI reports accident in Poland port
Sector
Energy – Dubai investor eyes oil... more
Daily Navigator 18 May 2012
HIGHLIGHTS
Corporate/Earnings
PSE – Phil. Stock Exchange net profit strengthens with higher trading volume
AGI – Alliance Global pushes 1Q12 core profit growth
SMPH – SM Prime plans new debt notes issue
more
Daily Navigator 17 May 2012
HIGHLIGHTS

Corporate/Earnings

URC – Universal Robina’s trading gains drive profit growth in FY 2Q12

GMA7 – GMA Network 1Q12 profit plunges on weak advertising demand



more
Daily Navigator 16 May 2012
HIGHLIGHTS

Corporate/Earnings

DMC/SMC – DMCI consortium bags contract to build San Miguel’s MRT–7

CEB – Cebu Air net profit declines on rising operating costs and competitive pressures

VLL – Vista Land sales and profit growth recovers in... more
Daily Navigator 15 May 2012
HIGHLIGHTS
Corporate
ABS – ABS–CBN profits inch slightly in 1Q12 on the back of revenue growth recovery
CPG – Century Properties profits quadruple in 1Q12
more
Daily Navigator 14 May 2012
HIGHLIGHTS
Corporate
AC – Strong performance from property, banking, and water utility boosts Ayala Group profits
SMC – San Miguel Group sustains profit growth in 1Q12
ABS/SGI – SkyCable buys Destiny Cable assets; creates virtual monopoly of cable business more
Daily Navigator 11 May 2012
HIGHLIGHTS
Corporate
EDC – Energy 1Q12 profits surge on key power plant contributions
SMDC – SM Development acquires property close to existing EDSA condo project
Economy
Merchandise exports decline in March


more
Daily Navigator 10 May 2012
HIGHLIGHTS
Corporate
ALI – Ayala Land pulls off 1Q12 earnings surprise
MPI – Metro Pacific reports sustained core profit growth in 1Q12
PX/PXP – Monte Oro and Philex at odds over plans to tap Chinese company over SC72
more
Daily Navigator 09 May 2012
HIGHLIGHTS
Corporate
TEL – PLDT earnings decline on the back of profit margin contraction; announces PDR investment in TV5/CignalTV
GLO – Globe Telecom earnings slip as profit margins shrink
MWC – Manila Water profit surges on strong volume growth
more
Daily Navigator 08 May 2012
HIGHLIGHTS
Corporate
AEV/AP – Aboitiz Group profit growth expansion rides on Unionbank
RCB – Rizal Commercial reports strong profit growth in 1Q12
MER – Meralco petitions for 2013 distribution rate hike
Sector
Retail – Jardine Matheson affiliate buys... more
Daily Navigator 07 May 2012
HIGHLIGHTS
Corporate
FLI – Filinvest Land sales expand in 1Q12 but cost increases squeeze margins
CHIB – Chinabank reports strong profit growth in 1Q12; declares stock split and dividends
AGI – Emperador Distillers of Alliance Global buys Diageo bottling plant
more
Daily Navigator 04 May 2012
HIGHLIGHTS
Corporate
FOOD – Alliance Select Indonesia develops fishing business to assure production supply
IP – IPVG teams up with Canadian company to build mineral refinery
BLOOM – Bloomberry raises new capital for casino development
GTCAP – GT Capital... more
Daily Navigator 03 May 2012
HIGHLIGHTS
Corporate
HLCM – Holcim sales growth surges on the back of volume expansion; reiterate BUY recommendation
more
Daily Navigator 02 May 2012
HIGHLIGHTS
Corporate
BPI – Bank of Phil. Islands net profit doubles in 1Q12 with surge in trading gains
TOL/MPI – Metro Pacific plans alternative NLEx–SLEx link road
SMC – San Miguel set sights on eight new deals to reach revenue goals; plans new airport
more
Daily Navigator 30 April 2012
HIGHLIGHTS
Corporate
AGI – Alliance Global sustains 2011 profit performance
AC/MWC – Ayala Group wins right to invest in top Vietnam infra companies
UBP – Unionbank’s 1Q earnings surge on the back of strong trading gains
Economy
Imports growth recover in... more
Daily Navigator 27 April 2012
HIGHLIGHTS
Corporate
PX/MER/SM – Philex, Meralco, and SM Investments release 1Q12 earnings results
Economy
DepEd prequalifies six construction groups for PPP project
more
Daily Navigator 26 April 2012
HIGHLIGHTS
Corporate
PX/PXP/AB/BRN – New survey doubles estimates for Forum’s Sampaguita gas fields
SMDC – SM Development sustains profit growth in 1Q12
Economy
Fiscal deficit surges in 1Q12 but still falls short of target as spending remains below par
more
Daily Navigator 25 April 2012
Corporate
AC/MPI – Ayala partners with Metro Pacific for PPP railway projects
PX/PXP – Forum Energy to release Reed Bank seismic survey estimates; Reiterate BUY rating for Philex
SMPH – SM Prime Holdings revenues and net profit growth accelerate in 1Q1 more
Daily Navigator 24 April 2012
HIGHLIGHTS
Corporate
PGOLD – Puregold 1Q12 net profit growth within expectations
RFM – RFM to distribute Dole Philippine products
Economy
BIR collection grows in Mar12 but falls short of targe more
Daily Navigator 23 April 2012
HIGHLIGHTS
Corporate
BDO – Banco de Oro sets profit guidance for 2012
MER – Meralco’s electricity sales surges in 1Q12
FPH – Dept. of Energy recommends Lopez pipeline be reopened
AC – Ayala Group firms up 2012 investments strategy
more
Daily Navigator 20 April 2012
HIGHLIGHTS
Corporate
BPI – Bank of Phil. Islands submits Basel III based CAR estimates; no new capital needed
URC – Universal Robina constructing bio–ethanol plant to improve domestic productio more
Daily Navigator 19 April 2012
Corporate
SMC – San Miguel increases authorized capital
BLOOM – Bloomberry to raise new equity capital
AT – Consunji group acquires minority stake in Atlas
 ALI – Ayala Land projects P90bn in 2012 projects
EWB – Eastwest Bank sets IPO price
more
Daily Navigator 18 April 2012
HIGHLIGHTS
Corporate
MEG – Megaworld 4Q11 earnings analysis
GLO – Globe Telecom to also issue retail bonds
PCOR – Supreme Court affirms Petron tax appeal victory
more
Daily Navigator 17 April 2012

CPG – Century Properties net profit expands in 2011

ALI – Ayala Land issues retail bonds

OFW remittances sustain growth in February
more
Daily Navigator 16 April 2012

ABS – ABS–CBN Broadcasting incurs core loss in 4Q11 as advertising demand falls

IMI/AC – IMI Electronics ventures into solar PV production

SM – SM Group to issue new long–term bonds
more
Daily Navigator 13 April 2012

TEL – Moody’s downgrades PLDT’s ratings as part of sovereign–corporate credit risk realignment

ALI – Ayala Land gives up on Negros property project

Exports surge strongly in February

more
Daily Navigator 12 April 2012

VLL – Vista Land sales expands but profit growth slips on higher interest

more
Daily Navigator 11 April 2012

GMA7 – GMA Network net profit falls sharply on advertising revenue decline; rising production costs

Initial Public Offering – EastWest Bank sets IPO price range

Health department prepares vaccine PPP project
more
Daily Navigator 10 April 2012

SMC/PAL – Additional details on PAL minority interest purchase

AP – Congressman says DOE Mindanao policy favors Aboitiz power barges

Inflation decelerates in March
more
Daily Navigator 04 April 2012

PX – Research Alert: Philex Company Update – “Exploration Upside Potential”

PGOLD – Our view of Puregold’s valuation of S&R acquisition

FLI – Filinvest prepares retail bond issue to fund 2012 capex
more
Daily Navigator 03 April 2012

SMC/PAL – Philippine Airlines approves investment of San Miguel in airline

BDO – Banco de Oro to undertake US$1.0bn equity capital raising

PORT – Globalport to build new passenger terminal for Manila North Harbor
more
Daily Navigator 2 April 2012

SCC – Semirara expects sustained profit growth in 2012

ICT – ICTSI secures subsidy for Poland expansion

President Aquino’s performance rating declines sharply

Energy – BatMan pipeline to remain government project

more
Daily Navigator 30 March 2012

BIR February collection performance exceptionally strong

Mining – Draft mining policy statement protects eco–tourism areas; now going through stakeholder discussions

more
Daily Navigator 29 March 2012

PGOLD – Puregold to acquire S&R membership shopping via share swap; Downgrade recommendation from buy to NO ACTION

SMC/PCOR – San Miguel core earnings gain in 4Q11; Petron considers Esso Thailand purchase

more
Daily Navigator 28 March 2012

PIP – Pepsi continues capacity and distribution expansion in 2012

PNB – Philippine National Bank’s earnings surge in 4Q11 on the back of strong trading gains
more
Daily Navigator 27 March 2012

PIP – Pepsi continues capacity and distribution expansion in 2012

PNB – Philippine National Bank’s earnings surge in 4Q11 on the back of strong trading gains
more
Daily Navigator 26 March 2012

MPI/DMC – Marubeni of Japan to invest in Maynilad

FPH – Shareholder conflict hits solar wafer manufacturing investment of First Phil. Holdings

PCOR – Petron and Shell’s tax case gets boost from favorable CA ruling

TOL/MPI – DOF seeking another... more
Daily Navigator 23 March 2012

TEL – PLDT shareholders approve new voting shares as foreign ownership issue solution

LC/LCB – Gold Fields pays final tranche for stake in Lepanto’s Far Southeast Gold project

ALI – Ayala Land to invest P60bn in Makati City

more
Daily Navigator 22 March 2012

TEL – PLDT special meeting today to approve new voting shares

GT Capital sets pricing range for planned IPO in April

Fiscal position shifts from surplus to deficit in January

Banking – Central Bank considers retirement of Treasury Bills as benchmark... more
Daily Navigator 21 March 2012

LTFRB approves jeepney fare hike; rising fuel prices stoke inflation concerns

more
Daily Navigator 20 March 2012

BDO – Banco de Oro plans new core capital issuance

PF – San Miguel Purefoods announces change in strategy and new investments

PCOR – Petron launches tender offer for Esso Malaysia

RCB/HI – RCBC acquires leasing business

BIR... more
Daily Navigator 19 March 2012

FLI – Filinvest Land’s earnings accelerate in 4Q11

PSE – PSE estimates surge in capital–raising activities in 2012

more
Daily Navigator 15 March 2012

JGS – JG Summit core earnings decline anew in 4Q11 on airline and petrochem weakness

ICT – ICTSI starts discussions to acquire new port in Nigeria

SMB – San Miguel Brewery issues new long–term bonds
more
Daily Navigator 14 March 2012

PX – Philex begins looking for mining opportunities in Burma

Exports demand picks up in January
more
Daily Navigator 13 March 2012

AT – Spinnaker Group exercises Atlas warrants; poses share overhang risk

Moody’s credit rating upgrade scenario explored
more
Daily Navigator 12 March 2012

AC – Ayala Group gains strongly in 4Q11; electronics and automotive dip; energy and infra strategy still being formed

AMC – Uytengsus exit from Alaska Milk with sale of controlling stake

Domestic liquidity growth recovers in January
more
Daily Navigator 09 March 2012

AT – Atlas to issue five–year offshore bonds for debt refinancing and capex

CEB – Cebu Pacific applies for fuel surcharge increase to mitigate rising fuel costs
more
Daily Navigator 08 March 2012

SM – SM Group reports 15% growth in 2011 earnings; sustains profit growth trend

EDC – Energy reverses losses in 4Q11; looks towards completion of plant rehab and FIT

PCOR – Petron 4Q11 net profit contracts

Strategy Report: A rather inebriated... more
Daily Navigator 07 March 2012

TEL – PLDT’s earnings contract significantly as focus on Digitel merger takes toll on profit margins

Inflation decelerates anew in February; January levels revised upwards
more
Daily Navigator 06 March 2012

Government fiscal spending more than doubles in December with higher infrastructure spending

Interest rates increase slightly despite weak demand for Treasury bills
more
Daily Navigator 05 March 2012

AEV/AP – Aboitiz Group earnings fall on decline in energy sales and electricity prices
more
Daily Navigator 02 March 2012

MPI – Metro Pacific’s core earnings sustain growth in 4Q11; plays waiting game with infrastructure projects

Central bank cuts policy rates again; market rallies over 5,000 and then fizzles
more
Daily Navigator 01March 2012

PX – Philex earnings fall in 4Q11 after metals prices correct and despite better production

Government defers mining EO issuance after strong business sector criticism
more
Daily Navigator 29 February 2012

BDO – No surprises for BDO 4Q11 earnings; bank meets profit guidance

FLI – Filinvest Land wins bidding for Cebu property; BPO complex planned

Contraction of merchandise imports still sustained
more
Daily Navigator 28 February 2012

MER – Meralco 4Q11 earnings growth decelerates; 2012 to be challenging

MPI/TOL/SMC – Metro Pacific finds rival’s counter–proposal unrealistic
more
Daily Navigator 27 February 2012

HCLM – Holcim reports 4Q11 net loss; optimism rising over improved sales and demand outlook

SMC/PAL – San Miguel close to buying minority controlling stake in Philippine Airlines

Energy – DOE reports 25 bidders for offered oil and gas blocks
more
Daily Navigator 24 February 2012

PGOLD – Puregold triples net profit in 2011; sustains profit trajectory; Our earnings analysis
more
Daily Navigator 23 February 2012
SMDC – SMDC reports slowdown in 4Q11 net profit growth

BSP expresses concern over spike in crude oil prices and impact on inflation

Gaming – Pagcor official denies graft allegations by Wynn
more
Daily Navigator 22 February 2012

ALI – Ayala Land moves to remedy foreign ownership limit with voting preferred shares

CPG – Century Property sells minority stake to APG Real Estate fund

Bureau of Treasury sells P50bn in RTBs
more
Daily Navigator 21 February 2012

PGOLD – Puregold considers merger with S&R membership shopping

Gaming – Fight between Wynn and Okada of Japan leads to accusations of bribery of Pagcor officials
more
Daily Navigator 20 February 2012
SMPH – SM Prime records 4Q11 as best quarter for earnings growth over past eight quarters

MPI – Metro Pacific interested in JV with new hospital

FOOD – Alliance Select keen on two acquisitions for 2012
more
Daily Navigator 16 February 2012
ALI – Ayala Land sustains profit growth trend, new bank financing program will push growth in 2012

OFW remittances sustains strong growth in December 2011
more
Daily Navigator 14 February 2012
GLO – Globe Telecom plans retail bond program

TA – TransAsia increases authorized capital; plans stock rights

Banking – Moodys issues concerns over reserve requirement reforms of BSP
more
Daily Navigator 15 February 2012

URC – Universal Robina reports surge in FY 1Q12 net profit

DPWH gives thumbs up to more than half of infrastructure projects in 2012 program
more
Daily Navigator 13 February 2012
GLO – Globe Telecom pulls negative earnings surprise for 4Q11

Mining – Alliance Select Foods buys more shares in Indonesian tuna subsidiary

Exports fall steeply in December 2011
more
Daily Navigator 10 February 2012
SM – SM Group confirms deal to acquire Ortigas property company

FOOD – Alliance Select Foods buys more shares in Indonesian tuna subsidiary
more
Daily Navigator 09 February 2012

SM – SM Group close to finalizing deal to acquire Ortigas & Co.
more
Daily Navigator 08 February 2012
SMB – San Miguel Brewery reports 2011 net profit; plans new bond issuance

SECB – Security Bank issues seven–year LTNCDs

Inflation decelerates anew; whole consumer basket experienced price slowdown

more
Daily Navigator 07 February 2012
MWC – Manila Water led consortium awarded bulk water project



Treasury bill rates rise slightly



Infrastructure – DOTC sets bidding for LRT–1 extension contract soon

more
Daily Navigator 06 February 2012
JGS – JG Summit shareholders sell shares through placement

MBT – Ty family may take Metrobank parent public

AC – Ayala may invest in airport, tollways, and water utility projects

Infrastructure – DBP plans to bid out MRT stake; San Miguel and Metro... more
Daily Navigator 02 February 2012
SECB – Security Bank suffers loss in 4Q11; full year net profit contracts

Telecom – Court of Appeals denies appeal of Smart, Globe, and Digitel
more
Daily Navigator 03 February 2012
SM – SM Investments plans convertible bond issuance

EG – IP E–Games to diversify into tourism sector

Infrastructure – GSIS discusses creation of infrastructure fund

Mining/Transportation – Vale of Brazil moves to make Subic transshipment hub for... more
Daily Navigator 01 February 2012
CEB – Cebu Pacific to lease long–haul aircraft; penetrate new markets

MBT – Metrobank management change suggested

TEL/DGTL – PLDT

Long–term Treasury rates fall anew
more
Daily Navigator 31 January 2012
GDP growth still anemic; higher government spending makes small dent

Energy – DOF to tax all fuel imports upon entry; reimburse exemptions later
more
Daily Navigator 30 January 2012
UBP – Unionbank reports 2011 profit gains; but 4Q profit growth slows down

EDC – Energy expects BacMan to be operational in 2012

GSMI – Ginebra buys bottling company

more
Daily Navigator 27 January 2012
MPI/DMC – Maynilad provides operational guidance for 2012

PIP – Pepsi to spend on product and capacity enhancements in 2012

Gaming – Tiger breaks ground on Manila Bay casino project
more
Daily Navigator 26 January 2012
TEL – PLDT downgraded 2011 profit guidance likely to be met

SMC – Supreme Court affirmation paves way for San Miguel redemption/government sale

MPI – Metro Pacific argues it has rights to MRT–3 expansion;

EDC/FGEN – Energy bags Chile concession... more
Daily Navigator 25 January 2012
TEL/MPI/PCEV/FPH – Beacon Electric of First Pacific Group buys additional stake in Meralco from First Philippine Holdings

SMC – Supreme Court affirms Sandigan ruling on sequestered San Miguel shares

Treasury bill rates decline
more
Daily Navigator 20 January 2012
RCB – RCBC issues long–term Euro debt notes; boosts capital

FDC – Filinvest hikes stake in EastWest ahead of planned IPO

BSP announces policy rate reduction; sets change in monetary policy philosoph more
Daily Navigator 19 January 2012
GMA7 – GMA Network provides 2012 guidance targets; expectations

BSP expected to announce policy rate changes
more
Daily Navigator 18 January 2012
PCOR – Petron retirement fund to unload 7.4% block into the market

GLO – Globe Telecom plans early redemption of fixed–rate bonds; delisting from PDEx

Yields on 10–year Treasuries fall anew on expectations of inflation decline
more
Daily Navigator 17 January 2012
SMC/MPI – San Miguel submits new proposal; DOTC may opt to bid out MRT–3 contract

RLC/URC – Robinsons Land and Universal Robina submit fiscal year earnings

OFW remittances surge to new high in November
more
Daily Navigator 16 January 2012
GLO – Globe plans to take wireless–landline service coverage nationwide

Mining – DENR denies Tampakan copper project’s ECC application

Energy – DOE bullish on the number of oil wells to be drilled in 2012
more
Daily Navigator 13 January 2012
TA – TransAsia buys option to invest in Cagayan gas prospect

More reasons to be bullish on ethanol production
more
Daily Navigator 12 January 2012

SMC – Petron receives approval to invest in Esso Malaysia; sale of BanCom nears completion

ALI – Ayala Land plans more investments in Nuvali
more
Daily Navigator 11 January 2012
SMC – San Miguel–Citra partnership seals deal to buy control of South Luzon Tollways

DMC – DMCI Homes plans seven projects for 2012

Exports continue to fall in November; China buys less of Philippine goods
more
Daily Navigator 10 January 2012
TEL – PLDT schedules new special meeting to approve capital structure changes

ICT – ICTSI guarantees perpetual capital issue of subsidiary

PSB – PSBank to issue new Tier–2 capital

DBM says nearly all of DAP stimulus package was disbursed
more
Daily Navigator 9 January 2012
RLC – Philratings maintains high credit rating for Robinsons Land

Deped PPP projects now up for bidding
more
Daily Navigator 4 January 2012
AP – Aboitiz Power bags supply contract for Luzon smelter

MWIDE – Megawide signs up Japanese company for technical support

7–year Treasury rates fall slightly; market liquidity still high

more
Daily Navigator 5 January 2012
TEL/DGTL/JGS – Minority shareholders seek hike in Digitel tender offer price

Planned Philippine global bond offer draws many investors
more
Daily Navigator 6 January 2012
SM – SM Land amends Bonifacio South offer; BCDA to evaluate

Consumer inflation declines sharply in Dec11
more
Daily Navigator 3 January 2012
Budget department announces front–loaded infrastructure spending in 2012 with early release of allotments and disbursements

more
Daily Navigator 2 January 2012
ANI – AgriNurture to disclose new information on Cargill investment

ABA – Abacus transfers mining rights to subsidiary

Air Transportation – Clark Airport starts expansion project; new terminal
more
Daily Navigator 29 December 2011
PAL/SMC – San Miguel confirms invitation to participate in Phil. Airlines refleeting

Imports growth in Oct11 weak but steady
more
Daily Navigator 28 December 2011
GMA7/TEL – GMA Network denies rumors that MVP has bought controlling stake

PAL/SMC – San Miguel reported (again) to have secured deal to buy into Phil. Airlines

NEDA proposing additional economic stimulus; still too small though
more
Daily Navigator 26 December 2011
MER – Meralco signs supply contracts with San Miguel, Semirara; plans new plant

CHTR – Chinatrust to delist; to launch tender offer this week

PPP Center identifies projects lined up for 2012
more
Daily Navigator 27 December 2011
SMB – San Miguel Brewery offers consent fees to entice bondholders to approve changes

ICT – ICTSI plans smaller capex in 2012
more
Daily Navigator 23 December 2011
ALI/WIN/PHES – Ayala seeks property investments in Valenzuela; may partner with Gatchalian group

COAT – Energy department issues ethanol regulation guidelines; Chemrez may benefit
more
Daily Navigator 22 December 2011
JFC – Jollibee details investment in SuperFoods of Vietnam

MER/AP – Meralco seeks financing for Redondo Peninsula power project

Fiscal deficit widens on surge in government spending
more
Daily Navigator 21 December 2011
FMIC – First Metro hikes stake in Visayas IPP

MWIDE – Megawide guns for more projects in 2012
more
Daily Navigator 19 December 2011
TEL – PLDT’s MediaQuest interested in buying Indonesian TV network

AC – Ayala Corporation looking at possible South Luzon expressway investment

Market Commentary – Typhoon Sendong damages could translate to corporate losses

more
Daily Navigator 20 December 2011
PGOLD – Puregold opens 100th store; BUY rating reiterated

FPH – Dept. of Energy considers reopening of First Phil. Holdings oil pipeline

Property – FTI privatization set in 2012 after reappraisal

more
Daily Navigator 15 December 2011
SMC – San Miguel to buy into Skyway toll road project

more
Daily Navigator 16 December 2011
AC – Ayala Corporation secures Daang–Hari infrastructure project

OFW remittances growth still strong in Oct11; Maintain positive outlook on consumer plays

more
MEG – Clark regulator reviews MOU with Megaworld; smaller area considered

AP – Davao City Council reverses Mayor’s opposition to Aboitiz Power project

Exports, money supply growth, and “pump–prime” spending indicators still gloomy

more
Daily Navigator 13 December 2011
AC/SMC – Ayala and San Miguel bid for first PPP project

MER – Meralco to divest Rockwell Land via property dividends

CEB – Cebu Pacific files fuel surcharge hike petition

more
Daily Navigator 12 December 2011
RCB – Rizal Commercial Bank to issue long–term deposit papers

SM – SM Group prepares for more BPO projects; may invest in Ortigas

SPH – Splash issues debt for refinancing and expansion projects

Property – LGUs encouraged to adjust market values... more
Daily Navigator 09 December 2011
SMPH – SM Prime plans syndicated loan for additional 2012 financing

MWC – Manila Water secures significant stake in Vietnamese bulk water supplier

GMA7 – GMA Network says 4Q11 profits are lower than expected


Water Utilities – Government approves... more
Daily Navigator 08 December 2011
TDY – Analysis and Comments on Tanduay secondary offering

more
Daily Navigator 07 December 2011
Inflation normalizes in Nov 2011

Energy – Open access seen by Sep 2012

Property – Clark attracts major property developers

more
Daily Navigator 05 December 2011
SMPH – SM Prime eyes acquiring Mactan International Airport property

GLO/TEL – iPhone 4S ends Globe Telecom exclusivity arrangement with Apple

AP – Aboitiz to transfer power barge to Mindanao
more
Daily Navigator 02 December 2011
SMB – San Miguel Brewery asks bondholders to replace 2009 bond covenant ratios

GLO/TEL – Fitch upgrades Globe credit ratings; affirms PLDT’s

TDY – Tanduay sets price for stock rights offer
more
Daily Navigator 01 December 2011
MEG – Megaworld secures major Clark property development project

EDC – Energy Development acquires South American geothermal sites

BRN – A Brown buys stake in small gold mining company

SECB – Security Bank to issue long–term deposit papers more
Daily Navigator 29 November 2011
BC – Benguet invests anew in nickel mine subsidiary

OV/OPM – Galoc temporarily shuts down production for upgrade

Economy slows down anew in 3Q11, falls below government’s target; indicators shows conflicting signals

Treasury rejects high bids for... more
Daily Navigator 28 November 2011
PGOLD – Initiating coverage of Puregold with BUY recommendation and TP of P19.00

AGI – New Resorts World complex planned for Pagcor entertainment city

Imports accelerates in Sep11

more
Daily Navigator 25 November 2011
PX/PXP – Forum Energy of Philex plans to start drilling in Reed Bank by 2012

ALI – Ayala Land partners with Mitsubishi for energy cooling systems business

SMC – San Miguel confirms discussion for Global Power investors

more
Daily Navigator 24 November 2011
AAI – Active Alliance ends weeks of speculation, Razon company buying control at 95.6% discount from market price


GDP results expected on Monday; Expectations are that 3Q GDP would show recovery

more
Daily Navigator 23 November 2011
MPI – Metro Pacific asserts right to Connector Road proposal; clarifies CMMTC claim
TA – Third party study validates resource estimate for Mt. Makiling geothermal plant
AC – Ayala prepays fixed–rate bonds

Power – Hanjin to build own power plant in Subic more
Daily Navigator 22 November 2011
MPI – DOF approves plan to bid MRT–3 operations and maintenance contract
ACR – Alsons confirms discussions with foreign

BIR meets Oct11 collection target…well, sort of.
more
Daily Navigator 21 November 2011
MPI – Citra claims right to build connector road; puts shadow on Metro Pacific plan
PIP – Pepsi–Cola profits inches up in 3Q; signals recovery underway; Maintain Buy
PSE – Phil. Stock Exchange defers ASEAN Trading Link entry; our comments
Banking – BSP plans to... more
Daily Navigator 18 November 2011

JGS – JG Summit exercises PLDT put option with
FLI – Filinvest Land listing bonds at PDEx
MRC – MRC secures agreement to establish plant in Surigao
NRCP – National Reinsurance resumes buyback program
more
Daily Navigator 17 November 2011

Market Commentary
MSCI includes three large–cap companies in global equity indices

TDY – Tanduay plans increase in free float; expansion of rum distribution in US
more
Daily Navigator 15 November 2011
SM/SMPH/SMDC – SM Group profit growth momentum sustained with retail recovery
VLL – Vistaland profit growth sustained; optimism over sales take–up trend
ABS – ABS–CBN profits decline in 3Q11 but not as much as previous quarters
JFC – Jollibee manages to eke out... more
Daily Navigator 16 November 2011
OFW remittances sustain growth trend in Sep11; Boosts optimism over consumer staple and durable plays
more

FLI – Filinvest opts to be conservative on socialized housing issues; results in profit decline
AC – Ayala Group earnings continue to be hounded by weaknesses of non–core businesses
SMC/SMB/GSMI/PCOR/PF – San Miguel Group earnings growth slows down
more
Daily Navigator 11 November 2011
GMA7 – GMA Network earnings outlook stabilizing
more
Daily Navigator 10 November 2011
Corporate

ALI – Ayala Land reports another strong quarter in 3Q11

MPI – Metro Pacific loses earnings growth steam in 3Q11

more
Daily Navigator 08 November 2011
AP/AEV – Aboitiz Group earnings growth normalized in 3Q11 with rising ancillary revenues of power
MWIDE – Megawide acquires property that will be the site of planned pre–fab plant
PGOLD – Puregold underwriter exercises overallotment option

Inflation spikes in... more
Daily Navigator 09 November 2011
Corporate
MWC – Manila Water 3Q core profit reverses 2Q decline
GLO – Globe sustains profit improvement with strong 3Q performance
MPI – Metro Pacific acquires Asian Hospital
more
Daily Navigator 04 November 2011
TEL – PLDT reports core profit gain in 3Q amidst guidance downgrade and weak quarter
more
Daily Navigator 03 November 2011
HIGHLIGHTS
MER – Meralco upgrades 2011 profit guidance; reports sure in 3Q core profi more
Daily Navigator 28 October 2011

EG – IP Ventures, Inc. to operate coffee shops in the Philippines
PX – Philex on track to meet 2011 expected profits despite decline in 3Q11 income
Eurozone crisis averted by new bailout packag more
Daily Navigator 27 October 2011

FPH/TEL – First Philippine Holdings and PLDT to issue corporate notes
BC/AP – Benguet Corp. signs 20 year power supply contract with Aboitiz Power
EG/GMA7/MAC – GMA7 invests in E–Games; MacroAsia divests logistics business
TEL/JGS/DGTL – PLDT completes Digitel... more
Daily Navigator 26 October 2011
ATRK – Majority shareholder Kim Eng offers to buy 100% of ATR Kim Eng

SLF – Sun Life acquires 49% of Grepalife

NIKL – Nickel Asia 9m11 net profit sees a 131% y/y growt more
Daily Navigator 25 October 2011
Corporate
MPI – MPIC to acquire hospital from affiliate for P300m
CLOUD – IP–Converge opens new facility in BGC
DFNN – Malaysian shareholder wants to increase DFNN holdings to 10%
more
Daily Navigator 24 October 2011

TEL/JGS/DGTL – PLDT–JGS deal targeted to close next week
IP – Bodhi Fund invests in IP Ventures
FGEN – First Gen readies for expiration of supply contracts of natural gas plants
PCOR – 3Q11 net profit declines 14% y/y
Economy
Transportation –... more
Daily Navigator 21 October 2011
PCEV/MER – PCEV to transfer its Meralco shares to Beacon

IP – IPVG Corp. principal shareholders voluntarily lock up shares

SMC/ISM – San Miguel acquires stake in Eastern Telecoms

DBP to raise P10bn through subordinated bond more
Daily Navigator 02 November 2011

Corporate
AC – Ayala may bid for Cagayan de Oro airport
AP – Aboitiz plans to invest in new hydropower projects after Magat expansion
ABA – Abacus invests in Indonesian airline
Telecoms – NTC orders reduction in SMS interconnection charge more
Daily Navigator 20 October 2011
HIGHLIGHTS

Corporate

EG – IP E–Game Ventures is sole distributor of Blizzard videogames

ICT/ATI – Increase in tariff rates approved by the Philippine Port Authority

IP – Bloombury set to takeover IPVG

Economy

Balance of... more
Daily Navigator 19 October 2011
HIGHLIGHTS
Sector/Economy
Banking – Supreme Court issues TRO on PEACe bond tax issue
Bureau of Treasury successfully issues new RTBs
NGCP buys more Meralco and Veco sub–transmission assets
Corporate
RFM – Flour prices expected to decline further by... more
Daily Navigator 18 October 2011
HIGHLIGHTS

Sector/Economy

Banking – BIR slaps taxes on PEACe bonds, banking industry files for TRO and calls move a form of regulatory risk

Economic managers hike stimulus package size

Overseas remittances surge in August

more
Daily Navigator 17 October 2011
HIGHLIGHTS
Corporate
LOTO – Pacific Online to issue Lucky Circle shares as property dividends
FOOD – Alliance Select sees higher earnings for 2H 2011
PCOR – DOE not keen on buyback of oil refinery
Economy
BIR posts draft rules on much delayed PERA for... more
Daily Navigator 14 October 2011
HIGHLIGHTS
Corporate
SMC/PCOR – San Miguel offers to sell Petron refinery to government; we think it’s a message
GMA7 – GMA Network fears 2011 profit target at risk due to economic uncertainty
SM/SMPH – SM Arena will follow different business revenue model
more
Daily Navigator 13 October 2011
HIGHLIGHTS
Corporate
SMB – San Miguel Brewery plans bond issue to refinance maturing debt
Economy
President Aquino unveils Disbursement Acceleration Plan; nothing amazing about it
more
Daily Navigator 12 October 2011
HIGHLIGHTS
Corporate
IP – IPVG sets tender offer for shares
BHI – Boulevard–Resom deal will not push through
Economy
President Aquino to unveil economic stimulus package; we express doubts
Money supply growth accelerates in August but exports growth... more
Daily Navigator 11 October 2011
HIGHLIGHTS
Corporate
JGS – JG Petrochemicals naphtha project construction ahead of schedule
Sector/Economy
Mining – Philex mine life estimates for Silangan project; Lepanto Victoria now online
Treasury unveils global bond buyback offer
more
Daily Navigator 10 October 2011
HIGHLIGHTS

Corporate

MER – Meralco’s rate cut to start this October

BDO – Banco de Oro issues Tier–2 capital

CHTR – Chinatrust decides to delist

Sector/Economy

Telecoms – PLDT–Digitel merger approval nears... more
Daily Navigator 07 October 2011
HIGHLIGHTS

Corporate

SMC – CIMB of Malaysia may invest in BanCom of San Miguel

BC – Benguet secures off–take agreement for nickel output

Infrastructure/Economy

DOTC plans long–term major infrastructure projects; changes to... more
Daily Navigator 06 October 2011
HIGHLIGHTS

Corporate

NIKL – Taganito mine resumes operations

Economy

Inflation in September increases slightly

more
Daily Navigator 05 October 2011
HIGHLIGHTS

Corporate

NIKL – Damage from Nickel Asia Surigao mines attack may be more than expected

FOOD – Alliance Select Food begins export of salmon products

AB – Atok Big–Wedge invests in Forum Energy

IP/EG/CLOUD – IPVG Group... more
Daily Navigator 04 October 2011
HIGHLIGHTS

Corporate

NIKL – Nickel Asia Surigao mines attacked; operations suspended

PX – Philex plans to start Silangan mine development in 2H 2012

AR – Abra to take on new foreign investors for gold project

ANI – Cargill plans... more
Daily Navigator 03 October 2011
HIGHLIGHTS
Corporate
SMC – San Miguel to sell Limay power plant; focuses on greenfield projects
SCC – Semirara to push through with coal methane recovery project
JFC – Jollibee buys Burger King franchise
Sector
Infrastructure – Connector bidding scheduled... more
Daily Navigator 30 September 2011
HIGHLIGHTS
Market Commentary
Senate and House of Representatives to institute bicameral assembly approach to Charter Change
Sector
Power – Masinloc power plant capacity may be doubled
more
Daily Navigator 29 September 2011
HIGHLIGHTS
Corporate
SECB – Security Bank to issue long–term deposit securities
AP – Aboitiz to invest in Pagbilao expansion
NI/AGP – Nihao and AGP to partner for nickel projects
Market Commentary
Caution over Post–Typhoon Pedring effects on... more
Daily Navigator 28 September 2011
HIGHLIGHTS

Corporate

PSE – Extended trading hours starts next week

ETON – Eton to build two new office buildings in Centris

Economy

Imports growth remains weak in July

more
Daily Navigator 27 September 2011
HIGHLIGHTS

Corporate

RCB – RCBC establishes large medium–term note issuance program

ALI – Makati association proposes mass transit system for CBD

GERI – Global Estates plans capital increase; stock option for executives

FMIC –... more
Extended Trading Hours on Monday, 3 October 2011
Public Advisory on Extended Trading Hour more
Daily Navigator 26 September 2011
HIGHLIGHTS

Corporate

PAL – Philippine Airlines cuts back on flights to manage expected labor strikes

ORE – Oriental Peninsula to diversify into power generation and expand nickel output

Market Commentary

Black Friday may present an... more
Daily Navigator 22 September 2011
HIGHLIGHTS


Corporate


PAL/TEL – New report reiterates Pangilinan interest in Philippine Airlines; cites advanced stages of discussion


PGOLD – Puregold IPO priced at lower end of range


LC/LCB – Goldfield makes second... more
Daily Navigator 21 September 2011
HIGHLIGHTS

Corporate

TEL – PLDT cancels meeting to approve new voting shares

SMC – San Miguel defers IPO of power holding subsidiary

UPM – United Paragon working towards revival of gold mine

Sector

Cement – Siam Cement... more
Daily Navigator 20 September 2011
HIGHLIGHTS


Corporate


SLI – Sta. Lucia defers plans to hold follow–on share offering


Economy


BTr allows treasury bill rates to rise; rejects unreasonable bids


more
Daily Navigator 19 September 2011
HIGHLIGHTS


Corporate


PAL – First Pacific Group reportedly interested in PAL investment


AP – Aboitiz Power increases sales capacity to Albay cooperative


AEV/UBP – Aboitiz Equity increases stake in Union Bank
more
Daily Navigator 16 September 2011
HIGHLIGHTS

Corporate

BDO/RCB/BKD – Banco de Oro pays RCBC in damages for Bankard case

Sector/Economy

Property – FTI privatization gains momentum with major offer to DOF

Airlines – ZestAir and AirPhil seek Cebu Pacific seats... more
Daily Navigator 15 September 2011
HIGHLIGHTS

Corporate

PGOLD – Puregold IPO at risk after Customs officials involve Lucio Co in missing containers cas more
Daily Navigator 14 September 2011
HIGHLIGHTS

Corporate

ICT – ICTSI interested in acquiring distressed assets in Greece

LC/LCB – Mining regulator notes progress in Gold Fields planned investment in Fareast Gold

Sector/Economy

Exports growth slip anew in July

more
Daily Navigator 13 September 2011
HIGHLIGHTS







Corporate



PXP/PX – Philex Petroleum completes listing and plans further exploration of SC72







Sector/Economy



Insurance – Reinsurance rates... more
Daily Navigator 12 September 2011
HIGHLIGHTS



Corporate

PCOR – Petron transfers nearly one–third of Pandacan operations; spends all of preferred proceeds



Sector/IPOs

Mining industry may be dragged into local and national government fight
more
Daily Navigator 23 Aug 2011
HIGHLIGHTS
Corporate
PLDT/GLO – PLDT loses claim over Bonifacio Global City exclusivity at the CA
BHI – Boulevard Holdings working on deals to develop or sell Puerto Azul
Economy
Short–term interest rates fall sharply; One–year Treasury rate now at... more
Daily Navigator 22 Aug 2011
HIGHLIGHTS
Corporate
PLDT/DGTL/GLO – Implications of the possible failure of the planned PLDT–Digitel merger
MPI – Metro Pacific sets sights on Luzon hospital
Sector
Banking and Finance – BIR submits PERA IRR for approval
more
Daily Navigator 19 Aug 2011
HIGHLIGHTS
Corporate/Economy
PIP – Pepsi–Cola 2Q11 earnings fall on high sugar prices but margins improving; downgrades to earnings forecast and target price; Maintain Buy
EDC – BOI grants tax incentives to two Energy Development projects
more
Daily Navigator 18 Aug 2011
HIGHLIGHTS
Corporate/Economy
SMC – San Miguel to buy controlling stake in Esso Malaysia and affiliate petrol–businesses
SMB/Economy – Tobacco and alcohol tax changes urged as priority bill
more
Daily Navigator 16 Aug 2011
HIGHLIGHTS
Corporate/Earnings
DMC – DMCI reports sustained growth in net profit; looks forward to P33bn worth of new projects
MEG – Megaworld more than triples 2Q profit on gains and higher sales
more
Daily Navigator 15 Aug 2011
HIGHLIGHTS
Corporate/Earnings
FLI – Filinvest 2Q net profit surges on strong MRB sales
AC – Ayala estimated 2Q core earnings expand strongly on core business profit growth
SMC – San Miguel’s earnings growth clipped on below–operating charges
more
Daily Navigator 12 Aug 2011
HIGHLIGHTS
Corporate/Earnings
URC – Raw materials weigh down URC’s operating profit but bottomline gains achieved
IMI – IMI Electronics margins fall; net profit continues to contract
 FOOD – Alliance Select completes salmon processor purchase
more
Daily Navigator 11 Aug 2011
HIGHLIGHTS
Corporate/Earnings
MWC – Manila Water set profit gains amidst weak billed volume growth
HLCM – Holcim earnings fall on the back of declining cement demand
MPI/TOL – Metro Pacific Tollways adjusts Connector Road cost estimate upwards
Economy more
Daily Navigator 10 Aug 2011
HIGHLIGHTS
Corporate/Earnings
ALI – Ayala Land sustains profit growth in 2Q11; Ahead of consensus but project launches appear to be slowing down once more
GLO – Globe earnings continue to improve in 2Q10 but market share gains are not translating to significant revenue... more
Daily Navigator 08 Aug 2011
HIGHLIGHTS
Corporate/Earnings
MPI – Metro Pacific proposes anew to take on MRT–3 privatisation
Market Commentary
S&P downgrades US credit ratings; implication to the Philippine market
more
Daily Navigator 05 Aug 2011
HIGHLIGHTS
Corporate/Earnings
SM/SMPH/SMDC – SM Group reports sustained profit expansion in 2Q11; SMDC unveils two new commercial projects
MPI – Metro Pacific 2Q11 profit driven by water and electricity investments
SPH – Splash diversified into food manufacturing
more
Daily Navigator 04 Aug 2011
HIGHLIGHTS
Corporate/Earnings
SMDC – SM Development sustains profit expansion in 2Q11
LPZ – Lopez offers debt buy back; possible exit from rehab
Economy
Improved fiscal deficit in June as government spending remains weak
more
Daily Navigator 02 Aug 2011
HIGHLIGHTS
Corporate/Earnings
BPI – Bank of Phil. Islands 2Q11 net profit within market expectations
BDO – Banco de Oro 2Q11 net profit within company and market expectations
SMPH – SM Prime 2Q11 net profit within market expectations
ICT – ICTSI withdraws... more
Daily Navigator 01 Aug 2011
HIGHLIGHTS
Corporate
AEV/AP – Aboitiz Group earnings fall on the back of cooler weather, lower generation sales
MWC – Manila Water to finance Boracay project with P500m loan
Sector
Mining – South Cotabato ban on open–pit mining may be lifted
more
Daily Navigator 29 Jul 2011
HIGHLIGHTS
Corporate
PX – Philex 2Q11 profit continues to surge on rising metals prices
Economy
BSP continues to tighten liquidity with RR hike
more
Daily Navigator 28 Jul 2011
HIGHLIGHTS
Corporate
ICT – ICTSI secures second terminal at Subic Bay port
DMC – DMCI forecasts 20% profit growth in 2011
ISM – ISM Communications completes bank acquisition
more
Daily Navigator 27 Jul 2011
HIGHLIGHTS
Corporate
PSE/Property – DOF releases IRR on tax rules for REITs
TEL – Supreme Court begins hearings on foreign ownership limit appeal
Economy
BSP cites economic vulnerability to US default
more
Daily Navigator 26 Jul 2011
HIGHLIGHTS
Corporate
MER – Meralco reports 20% growth in 2Q core profit
MEG – Megaworld reveals plans for Napolcom property in Taguig
Market Commentary
SONA gives glimpse into “FreAquinomics”
more
Daily Navigator 25 Jul 2011
HIGHLIGHTS
Corporate
PSE – “Forming a League on Faith” – Corporate Navigator; Maintain Buy; TP upgraded
ICT – ICTSI sells treasury shares to unidentified investor
MPI – Metro Pacific Investments appeals to DOTC not to cancel MRT/LRT bidding
Sector more
Daily Navigator 22 Jul 2011
HIGHLIGHTS
Market Commentary
Our pre–SONA comments and analysis
more
Daily Navigator 21 Jul 2011
HIGHLIGHTS
Corporate
RCB – RCBC to issue shares to incoming investor
SMC – Moodys withdraws credit rating for San Miguel
Sector
Transportations/Infrastructure – DOTC cancels MRT/LRT bidding
more
Daily Navigator 20 Jul 2011
HIGHLIGHTS
Corporate
FGEN/FPH – First Generation issuing new preferred shares series
PX – SSS may sell its Philex stake
Sector
Power/Energy – DOE warns of power shortage scenario
more
Daily Navigator 19 Jul 2011
HIGHLIGHTS
Corporate
ALI/SMPH – Ayala wins Negros property bid but SM Prime says its invalid
TEL – PLDT appeals SC decision on foreign ownership limit interpretation
more
Daily Navigator 18 Jul 2011
HIGHLIGHTS
Corporate
EDC – ICTSI may have lost bid to acquire Portek to Mitsui
PSE – BSP and DOF pushes for bond and stock exchange unifications
RLT – PhilRealty plans launch of new projects
CEB – Cebu Air leases two aircraft
Economy
OFW remittances... more
Daily Navigator 14 Jul 2011
HIGHLIGHTS
Corporate
DMC – DMCI projects flattish profit growth for 2Q11
HLCM – Holcim hikes cement prices
 ALI – Ayala targets five new BPO buildings in Metro Manila and Cebu
PWR – Century completes acquisition of East Asia; targets higher sales in... more
Daily Navigator 13 Jul 2011
HIGHLIGHTS
Corporate
PCOR – Petron optimistic over sustained profit growth in 2011
SM – SM Investments still confident over meeting 2011 profit growth target
ALI/SMPH – Ayala and SM Prime vie for large Negros Occidental property
more
Daily Navigator 12 Jul 2011
HIGHLIGHTS
Corporate
PX – Philex investment buys into Octon exploration Block
Economy
91–day T–bill rate declines
Loan growth and money supply growth accelerates in May
more
Daily Navigator 11 Jul 2011
HIGHLIGHTS
Corporate
MPI – Metro Pacific issues shares to fund additional tollway capital
SMC – San Miguel’s energy subsidiary to launch IPO in 2011
more
Daily Navigator 08 Jul 2011
HIGHLIGHTS
Corporate
FDC – Filinvest Development plans Visayas power plant
FLI – Filinvest Land successfully issues retail bonds
RCB – Chairman Navarro passes away
more
Daily Navigator 06 Jul 2011
HIGHLIGHTS
Corporate
TEL – PLDT to issue voting preferred shares to mitigate constitutional limit issue
AC – Ayala suspends trading of preferred shares; prepares redemption
Economy
Government to exchange P100bn bond exchange to extend maturities
more
Daily Navigator 05 Jul 2011
HIGHLIGHTS
Corporate
PNB – Allied Bank denies ICBC investment
Market Commentary
PSEi’s new high – should we be bullish?
more
Daily Navigator 04 Jul 2011
HIGHLIGHTS
Corporate
SM/AT – SM Investments diversifies portfolio with minority stake in Atlas
MPI/TOL – SCTEx issue resolved; Metro Pacific secures concession agreement
VLL – Vistaland to invest in Sta. Rosa development
PNB – Phil. National Bank plans to... more
Daily Navigator 01 Jul 2011
HIGHLIGHTS
Corporate
GERI – Global Estates announces major Boracay and Tagaytay tourism investments
TEL – Government may intervene on SC ruling impact; merger with Digitel completion date reset
Economy
Saudi Arabia stops hiring OFWs; can impact remittances... more
Daily Navigator 30 Jun 2011
HIGHLIGHTS
Corporate
TEL – Supreme Court orders SEC to investigate PLDT for breach of constitutional limit on foreign ownership; Our scenario analysis.
AC/TA – Ayala partners with Trans–Asia for Calaca power project
Economy
Fiscal deficit in May11
more
Daily Navigator 29 Jun 2011
HIGHLIGHTS
Corporate
FOOD – Alliance Select Foods looks cheap on earnings valuation; Spence acquisition to drive earnings growth; Buy
COAT – Chemrez sets expansion to boost export sales
Sector
Telecommunications – Regulator revives plans to bring down... more
Daily Navigator 28 Jun 2011
HIGHLIGHTS
Corporate
MER/AP – Meralco plans to invest in Subic power project of Aboitiz Power
Economy
Treasury rejects bids on 182–day Treasury; 91–day T–bill rate down slightly
more
Daily Navigator 27 Jun 2011
more
Daily Navigator 24 Jun 2011
more
Daily Navigator 23 Jun 2011
HIGHLIGHTS
Corporate
PX – Philex releases Silangan estimates; FMV ranges from P21.00–32.00/sh; Buy
TEL/DGTL – Target completion date for PLDT–Digitel merger likely to be missed
TA – TransAsia nears completion of Calaca financing
more
Daily Navigator 16 Jun 2011
more
Daily Navigator 15 Jun 2011
HIGHLIGHTS
Corporate
BEL – Belle to issue stock rights as funding for casino project
PX – Forum Energy’s SC 72 not part of Spratly’s issue; DOE gives go–signal
more
Daily Navigator 13 Jun 2011
HIGHLIGHTS
Corporate
FOOD – Alliance Select to launch stock rights offer in Jul; funding for Spence acquisition
OV/VUL/TA – Philodrill buys Vulcan stakes in SC6A and 14
MRC – MRC Allied closes deal on Surigao mines
Economy
Total exports climb 19% in Apr... more
Daily Navigator 10 Jun 2011
HIGHLIGHTS
Corporate
SMDC – SMDC plans profit target upgrade on strong 5m 2011 sales
FLI – Filinvest set to issue retail bonds in June
MER – Meralco lower capex program on the back of ERC decision on rate caps
ACR – Alsons plans equity offering to finance power... more
Daily Navigator 09 Jun 2011
HIGHLIGHTS
Corporate
MER – Meralco seeks new rate hikes, ERC grants lower rate caps
PNB – Phil. National Bank successfully raises new capital
GLO – Philratings maintains Globe bond ratings
more
Daily Navigator 08 Jun 2011
HIGHLIGHTS
Corporate
SMC – San Miguel to buy regional company in July; reiteration of target price and recommendation
Economy
Inflation accelerates in May; postulating a mini–liquidity trap scenario for the BSP

more
Daily Navigator 07 Jun 2011
Corporate
MER/TEL – Meralco claims “controversial” frequency was already returned two years ago
MRC – MRC Allied receives JV offer from Australian company
LIB/SMC – wi–Tribe broadband internet services now unlimited

more
Daily Navigator 06 Jun 2011
Corporate
TEL – PLDT asks for exemption on tender offer after completing Digitel takeover
FOOD – Alliance Select secures guarantee on loan to fund Spence purchase
VLL – Vistaland launches new business line focused on high–rise condominiums
Sector
Banking... more
Daily Navigator 03 Jun 2011
Corporate
SECB/SOC – Security Bank purchases thrift bank for expansion
AP – Aboitiz Power completes Phase 1 of Ambuklao rehabilitation; set to sell to WESM
Sector
Property – IRR on REITs will have to go through Congress first
more
Daily Navigator 02 Jun 2011
HIGHLIGHTS
Corporate
ICT – ICTSI offers cash to buy control of Singaporean port operator; may be overpaying
Sector
Property/PWR – Century Properties buying into East Asia Power as backdoor listing may have impact to sector
more
Daily Navigator 01 Jun 2011
HIGHLIGHTS
Corporate
MER – Meralco to build coal power plant
AT – Atlas nickel affiliate to resume mining operations
SMC – San Miguel plans a few more divestments and investments
SECB/MPI – Security Bank partners with Marubeni for leasing venture
more
Daily Navigator 31 May 2011
HIGHLIGHTS
Corporate
AP/PWR – Aboitiz Power buys four inactive power barges from East Asia
Economy
Real GDP growth may have decelerated amidst base year change and NIA changes
more
Daily Navigator 30 May 2011
HIGHLIGHTS
Corporate
BDO – Banco de Oro provides 2011 net profit guidance
TEL/GLO/DGTL/JGS – President Aquino issues orders to investigate monopoly complaints over PLDT–Digitel merger
 SMC/KPM – San Miguel acquires Keppel shipyard property in the Visayas more
Daily Navigator 27 May 2011
HIGHLIGHTS
Corporate
PX – Philex issues property and cash dividends; distributes energy exploration investments to shareholders
more
Daily Navigator 26 May 2011
HIGHLIGHTS
Corporate
MRC – MRC Allied nears completion of private placement; eyes IPO for gold project
MWIDE – Megawide more than doubles recurring profit in 1Q11
Sector
Power/Energy – DOE to resume power asset privatization in 3Q11
more
Daily Navigator 25 May 2011
Corporate
TOL/MPI – Metro Pacific Tollways agrees to BCDA review of expressway agreement
SMC – San Miguel’s investment bank completes price stabilization activities
LIB – Liberty Telecom to issue new shares to finance planned broadband expansion
more
Daily Navigator 24 May 2011
HIGHLIGHTS
Corporate
BDO – Banco de Oro to increase capital with long–term debt issue
Economy/Sector
Government achieves largest fiscal surplus over 25 years
Telecoms – Regulator instructs PLDT/Digitel to provide peers with deal documents and details
more
Daily Navigator 23 May 2011
HIGHLIGHTS
Corporate
JFC – Jollibee buys Chowking franchise stores; invests in Vietnamese JV
MPI – Metro Pacific bewails SCTEx “midnight decision” by exiting BCDA management
more
Daily Navigator 19 May 2011
HIGHLIGHTS
 Corporate
 AP/AEV – Aboitiz Power Subic and Davao capex set at P100bn for next three years
 SPH – Splash sustains recovery with 37% growth in 1Q11
more
Daily Navigator 18 May 2011
HIGHLIGHTS
Corporate
AGI/MEG – Alliance Global profit grows on the back of strong food and beverage sales growth; Megaworld recovers from 4Q10 contraction
VLL – Strong sales take–up pushes Vistaland’s profit growth in 1Q
more
Daily Navigator 17 May 2011
HIGHLIGHTS
Corporate
GMA7 – GMA Network net profit falls 38% sans election–related revenues
JFC – Jollibee 1Q11 profit contracts 10%
Energy/AC – Renewables regulator releases FIT rates; Ayala–Northwind should benefit
Economy – BIR misses target for... more
Daily Navigator 16 May 2011
Corporate
AC – Ayala 1Q10 profit results a mixture of positive and negative developments
JGS/CEB – JG Summit may sell PLDT shares to NTT Docomo of Japan
more
Daily Navigator 13 May 2011
HIGHLIGHTS
Corporate
ABS – ABS–CBN reports 1Q11 profit; still looks fuzzy
PX/MA/MAB – Philex secures Kalayaan project partnership with Manila Mining
MWC – Manila Water core profit sustains growth despite weak volume growth
more
Daily Navigator 12 May 2011
Corporate
ALI – PLDT reports flat core profit growth in 1Q11; Capex spending remains slow
GLO – Globe Telecom’s marketing push pays off with 1Q11 core profit improvement
SMC – S&P downgrades San Miguel credit rating outlook
PX/LC/LCB/MA/MAB – Philex, Lepanto, and... more
Daily Navigator 09 May 2011
Corporate
TEL – PLDT reports flat core profit growth in 1Q11; Capex spending remains slow
more
Daily Navigator 10 May 2011
Corporate
MPI/TOL/MER/FPH – Metro Pacific core profit surges 44% in 1Q11; three issues from the
briefing: 1) regulatory risk at Tollways emerges; 2) Maynilad prepares for rebasing
discussions in 2012; and 3) Metro Pacific may be gearing for end of Standstill Period over more
Daily Navigator 09 May 2011
more
Daily Navigator 06 May 2011
SM – SM Investments Group sees 13% profit rise in 1Q11; retail profits contract but offset by higher profits from other subsidiaries
PX/LC/LCB – Philex invests in Lepanto; to spend significantly in Padcal and Silangan
UBP – 1Q11 net profit for Unionbank contracts
more
Daily Navigator 05 May 2011
Corporate
IMI/AC – IMI Electronics purchases three emerging market companies
VLL – Vistaland to issue new debt
FPH – Rockwell issues debt for expansion and refinancing
Economy
Inflation accelerates in Apr11
more
Daily Navigator 05 May 2011
IMI/AC – IMI Electronics purchases three emerging market companies
VLL – Vistaland to issue new debt
FPH – Rockwell issues debt for expansion and refinancing
Inflation accelerates in Apr11
more
Daily Navigator 04 May 2011
Corporate/Economy
DMC/SCC – Semirara targets 20–40% profit growth in 2011
HLCM – Holcim reports sharp decline in net profit
more
Daily Navigator 03 May 2011
Corporate/Economy
DMC/SCC – Calaca power plant expansion initiated
BDO – Banco de Oro reports 18% profit growth in 1Q
LC/LCB – Lepanto allocates capex for Victoria expansion
Economy
Treasury Bill rate falls anew
more
Daily Navigator 02 May 2011
Corporate/Economy

ICT – ICTSI successfully issues perpetual bonds

SMC – San Miguel seeks domestic and international coal mine investments

Economy/Sector

Property – SEC amends IRR for REITs; increases free float minimum

President... more
Daily Navigator 28 April 2011
Corporate/Economy
GLO/TEL/DGTL – Globe Telecom files position paper
SM – SM Investments allocates higher capex for 2011
Economy
DOF reports March deficit; Imports growth in Feb
more
Daily Navigator 27 April 2011
FOOD – Alliance Foods buys smoked salmon maker, Spence
MPI – Metro Pacific convertible bonds exercised
SMDC – SM Development reports 45% profit gain in 1Q11
more
Daily Navigator 26 April 2011
Corporate/Sector
SMC – Final details for San Miguel offering released; recommend subscription; company interested in NAIA–3 privatization
PERC – PetroEnergy signs agreements for wind power projects
more
Daily Navigator 25 April 2011
Corporate/Sector
HLCM – Holcim considers cement plant capacity expansion on rising cement demand
PNX – Phoenix plans long–term bond offering
ICT – ICTSI finishes buyout of Adriatic port
Infrastructure – Government to require track record for LRT/MRT... more
Daily Navigator 20 April 2011
Corporate/Sector
SMPH – SM Prime reports sustained profit growth in 1Q11
LC/LCB – Lepanto reports reversal of 1Q10 net loss to profit in 1Q11
more
Daily Navigator 19 April 2011
Corporate/Sector
AGI – Alliance Global earnings decline in 4Q10 on the back of real estate sales fall
AC – Ayala BPO subsidiary buys US finance and accounting outsourcing company
BEL – Belle pushes back launch target for Manila casino project
Economy
Treasury... more
Daily Navigator 18 April 2011
Corporate/Sector

FDC – Filinvest Development to push through with power investments

AC – Northwind petitions for FIT rate hike citing financial troubles as reason

Economy

OFW remittances sustain growth in Feb; BSP cuts growth forecasts

more
Daily Navigator 15 April 2011
ALI – Ayala Land interested in Intramuros redevelopment; reports weak 1Q10 residential sales target
SMC/MER – San Miguel confirms increasing stake in Meralco via related companies
more
Daily Navigator 14 April 2011
Telecom/TEL/DGTL/GLO – Government to study PLDT–Digitel merger impact


Energy – Department of Justice to investigate pump price hikes


more
Daily Navigator 13 April 2011
ABS – ABS–CBN reports fall in 4Q10 profit amidst strong revenue growth
SMC – Supreme Court rules Cojuangco block legally owned by ECJ
GLO – Globe Telecom suggests government intervention into PLDT–Digitel deal
more
Daily Navigator 12 April 2011
SMC/PCOR – San Miguel goes on roadshow to sell shares and convertible bond more
Daily Navigator 11 April 2011
PIP – Pepsi reports sharp decline in 4Q10 profit; Maintain Buy on declining sugar prices
SMPH/SMDC – SM Prime breaks ground in Cebu seaside mall; Alert levels in Taal up
more
Daily Navigator 08 April 2011
NIKL – NickelAsia reports 97% growth in shipped ore value

MEG – Megaworld to issue USD debt notes

MWC – Manila Water to issue new debt for 2011 capex
FOOD – Alliance Select sets up marketing subsidiary in U more
Daily Navigator 07 April 2011
ICT – ICTSI announces two new port contracts
AT – Atlas plans restart of nickel mine in Palawan
SMC – San Miguel may issue convertible bonds
more
Daily Navigator 05 April 2011
Corporate
FGEN/EDC – FirstGen increases stake in Energy with call option exercise
Sector
Power/Energy – Renewable energy regulator may limit new capacity installation
Economy
Treasury bill rates fall sharply
more
Daily Navigator 01 April 2011
TEL/JGS/DGTL – PLDT confirms continued use of unlimited services of Digitel
JFC – Jollibee acquires controlling stake in Chow Fund US resto chain
MUSX – Music Semiconductors changes to Greenergy

more
Daily Navigator 31 March 2011
Property – IPP incentives for mass housing developers still under discussion
Power/Energy – DOE postpones FIT rates release anew
more
Daily Navigator 30 March 2011
TEL/DGTL/JGS – PLDT buys out JG Summit from Digitel; plans to undertake mandatory tender offe more
Daily Navigator 29 March 2011
DGTL – Digitel share price surges on new investor rumors; three reasons why it’s likely to be just a rumor. Maintain Sell
MRC Allied buys fourth mining property
more
Daily Navigator 28 March 2011
NIKL – Nickel Asia reports loss in 4Q10
MWIDE – Megawide reports profit growth acceleration in 2010
MPI – Metro Pacific backs Maynilad borrowing with shares
SMC – San Miguel seen to bid for five power assets to be privatized
more
Daily Navigator 25 March 2011
Economy
BSP finally admits to inflationary concerns and hikes policy rates
Mining – South Cotabato signs IRR for open pit mining ban
Corporate
FPH – West Condo residents association says there are two more leaks in the pipeline
more
Daily Navigator 24 March 2011
Corporate
DGTL – Digitel reports net loss in 4Q10
TA – TransAsia signs deal to buy power from Semirara
more
Daily Navigator 23 March 2011
Corporate
PX – Forum Energy completes seismic survey of Reed Basin
PHN – Phinma exits financial services with sale of AB Capital stake
SMDC – Major university also questions SMDC project in QC
Economy
Philippines issues global bonds
more
Daily Navigator 22 March 2011
LR – Leisure issues new shares via private placement
EDC/FPH – Energy Development and First Holdings pushes with wind and solar investments
TEL – PLDT raises P5.0bn in fixed–rate notes
more
Daily Navigator 21 March 2011
CEB – Cebu Air 2010 core profit tops consensus forecast; declares dividends
MEG – Megaworld core profit contracts 78% in 4Q; flattish growth in 2010
TA – TransAsia plans new power plant in Mindanao
more
Daily Navigator 17 March 2011
SMC – Top Frontier becomes biggest individual stockholder in San Miguel
FLI – Filinvest Land reflects decline in 4Q10 core profit
more
Daily Navigator 16 March 2011
Corporate
NIKL – Nickel Asia key customer suffers from Japan earthquake
AC – Ayala Corp. to issue puttable bonds – Maintain Sell
Economy
Fiscal surplus achieved in Jan11 on exceptional dividends to Treasury
Treasury bond rate rises sharply
OFW remittances... more
Daily Navigator 15 March 2011
SMC – San Miguel profit growth rises strongly in 4Q10 on new investments
PCOR – Petron profit accelerates in 4Q10 on higher sales volume and petrochemicals
more
Daily Navigator 14 March 2011
AC – Ayala Corp. estimated recurring net profit up 4% in 4Q
GMA7 – GMA Network 4Q profit contracts 18%
PSE – Phil. Stock Exchange profit jumps 52% in 4Q; beats CLCI full year forecast
more
Daily Navigator 10 March 2011
ABS – ABS–CBN reports 2010 profit exceeds target; but quarter profit appears weak
TA – Trans–Asia 4Q10 surges; helps reverse 9m10 loss
COL – Citiseconline 2010 profit down slightly
more
Daily Navigator 09 March 2011
AC/ALI – Ayala Group exchanges stake in ARCH Capital for additional interest in hedge fund
RCB – BSP approves IFC purchase of Rizal Commercial Bank shares
RLC – Robinsons to develop Federal Land property
more
Daily Navigator 08 March 2011
Corporate
ICT – ICTSI reports solid growth in 2010 net profit
Economy/Sector
Conglomerates/Infrastructure – First five PPP projects identified for bidding
Treasury Bill rates fall anew
more
Daily Navigator 04 March 2011
MPI – Metro Pacific 4Q10 core profit growth decelerates
AEV/AP – Aboitiz Group reports sustained growth in core profit
more
Daily Navigator 03 March 2011
Corporate
MPI – Metro Pacific negotiating with MRTC shareholders
SM – SM Investments report 15% growth in 4Q net profit
PX/MA – Philex and Manila Mining negotiating on JV to develop combined properties
AP – Pagbilao power plant issue still very much alive more
Daily Navigator 03 March 2011
Corporate
MPI – Metro Pacific negotiating with MRTC shareholders
SM – SM Investments report 15% growth in 4Q net profit
PX/MA – Philex and Manila Mining negotiating on JV to develop combined properties
AP – Pagbilao power plant issue still very much alive more
Daily Navigator 02 March 2011
TEL – PLDT sustains profit growth in 2010; declares dividends; reiterating BUY rating based on attractive dividend yield
CEB – Cebu Pacific to buy back shares; Maintain BUY
more
Daily Navigator 01 March 2011
MER – Meralco reports 63% growth in 4Q10 profit
BDO – Banco de Oro reports 20% growth in 4Q10 profit
more
Daily Navigator 28 February 2011
Corporate
ALI/PRC – Ayala Land forms JV with PhilRacing Club to develop large Makati property
Economy
Imports sustain growth in December
more
Daily Navigator 25 February 2011
PX – Philex reports surge in 4Q10 profit as historical high copper and gold prices push profits highe more
Daily Navigator 24 February 2011
DMC – DMCI profit grows 89% in 2010 on the back of strong operating growth and one–time sale of AG&P
SGI – Solid Group follows Megawide into prefabricated technology
more
Daily Navigator 23 February 2011
Corporate
DMC – DM Consunji secures billion peso contract for Pagcor City hotel construction
Economy/Sector
P20bn of RTBs issued
more
Daily Navigator 22 February 2011
Corporate
JFC – Jollibee 4Q10 profit growth not impressive; recommend conservative view
Economy/Sector
91–day Treasury bill increases
Energy – DOE modifies BatMan–1 project; plans bidding in 3Q11
more
Daily Navigator 21 February 2011
Corporate
MPI – Metro Pacific may seek parent company’s help for MRT–3
Market Commentary
Social unrest in Middle East should be a cause of concern for oil, property, telecom, and banking
more
Daily Navigator 18 February 2011
TA – Service Contract of Trans–Asia gets farm–in investors
LIB – Broadband service of Liberty Telecom now the exclusive partner of Skype
MK – UEM Development issues shares to secure control of National Grid
more
Daily Navigator 17 February 2011
Economy
ICT – ICTSI starts operations at Terminal 6 in Portland
COAT – Chemrez to invest in new biodiesel plan
Sector
Property – Makati government stops work in selected condominium construction in Makati; Ayala Land most affected
Property – Compromise over... more
Daily Navigator 16 February 2011
OFW remittances grow 8% in 2010
Treasury rejects bids for 25–year Treasury bonds
more
Daily Navigator 15 February 2011
SECB – Security Bank profit doubles in 2010
SMPH – SM Prime 2010 profit expands 12% in 2010
more
Daily Navigator 14 February 2011
ALI – Core profit declines amidst strong revenue growth and deteriorating margins
AEV – Aboitiz Equity Ventures included in the MSCI Index
more
Daily Navigator 11 February 2011
Corporate
SMC – San Miguel loses exclusivity to bid for control of Indophil
Economy
Exports rise 25% in December; BSP maintains policy rates but upgrades inflation forecasts
more
Daily Navigator 10 February 2011
Corporate
GLO – Globe Telecom reports continued decline in 4Q10 core profit
SMC – San Miguel to invest in conversion and expansion of Limay power plant
Economy
Money supply growth accelerates slightly in December
more
Daily Navigator 08 February 2011
ELI – Empire East makes bid for FTI property
PX – Philex ore production up in Jan11
MWIDE – Our comments on the Megawide IPO
more
Daily Navigator 07 February 2011
Corporate
ALI – Ayala Land claims 9,000 units launched in 2010. But isn’t that below target?
SMC – San Miguel partners with Citra and StarToll for toll road investment company
RCB – Rizal Commercial Bank net profit rises in 4Q10
Economy
Inflation surged in... more
Daily Navigator 04 February 2011
Corporate
SM – SM Investments to issue corporate notes for refinancing
SMC – Supreme Court clears San Miguel’s investment in North Harbor
Economy
President Aquino orders nationwide logging ban
more
Daily Navigator 02 February 2011
MPI – Metro Pacific offers to buy Landbank and DBP stakes in MRT–3
BPI – Bank of Phil. Islands net profit for 2010 increases by 33%
FLI – Filinvest Land expects to launch 25% more sale projects in 2011
PNX – Phoenix Petroleum launches due diligence for Subic... more
Daily Navigator 01 February 2011
Corporate
TEL – PLDT invests in regional submarine cable network
Economy
GDP growth accelerates in 4Q10 but drivers changed; analysis mixed
more
Daily Navigator 31 January 2011
RFM – RFM plans equity offering amidst 4Q net profit growth of 21%
UBP – Unionbank net profit gains in 4Q as bank reduces bad debt provisioning
SMDC – SM Development to raise P10bn in new capital for expansion
more
Daily Navigator 28 January 2011
ETON – Makati City government suspends Eton project after accident
JGS – JG Summit pursues capital raising to fund petrochemical and property investments
CHI/ALI – Ayala Center Cebu to push Phase 2 expansion
VLL – Vista Land to launch seven MRB projects in 2011
MWC... more
Daily Navigator 27 January 2011
SMC – San Miguel to price share offer at P200/sh
PSE/Property – Department of Finance gives go signal for REIT tax discussions
more
Daily Navigator 26 January 2011
Corporate
SMC – San Miguel Power raises capital from bond offering; on lower range of target
DMC – DMCI issues fixed–rate notes
Market/Economy
Bomb explodes inside bus plying main thoroughfare; expect market reaction
Imports reaccelerate in Nov10
more
Daily Navigator 25 January 2011
Corporate
SPH – Splash searches for international brands and companies to acquire
MEG/LND – Megaworld and Fil–Estate to revive large–scale tourism project in Tagaytay
SM – Henry Sy buys more SM Investment shares from the market
Economy/Sector
Aquino... more
Daily Navigator 24 January 2011
MK – UEM Development gets loan from Standard Chartered
ETON – Eton Group in China plans large–scale projects
ATI – Asian Terminal eyes ports up for privatization
Sector
Airline – Civil Aeronautics may cut taxes for foreign airlines to encourage touris more
Daily Navigator 21 January 2011
ALI – Ayala Land to build business hotel in Davao
RLC – Robinsons’ to build Palawan’s first full–service mall
MER – ERC suggests cuts to Meralco PBR capex
more
Daily Navigator 20 January 2011
AP/AEV – President Aquino intervenes; stops Pagbilao auction
SMC – San Miguel bonds goes on roadshow; indicative yield at 7%
PNB – Phil. National Bank settles with RJ Group on Buendia property
LIB – Liberty Telecom loses President to QTel Indonesia subsidiary
more
Daily Navigator 19 January 2011
MER – Meralco to invest in new peaking power plant in Laguna
ALI – Ayala Land issues P10bn in fixed rate debt
AP/AEV – Aboitiz confirms auction of Pagbilao; considers options
HLCM – Holcim commissions logistical terminal to support demand
more
Daily Navigator 18 January 2011
Corporate
URC/RLC – Universal Robina and Robinsons Land report FY 2010 earnings
SPH – Splash increases capex for 2011
Economy/Sector
OFW remittance maintain growth in November
Consumer/Cement – President Aquino issues EOs removing wheat and cement tariffs
more
Daily Navigator 17 January 2011
Corporate
BEL/LR – Leisure Resorts to operate Belle casino
PIP – Pepsi starts construction of biomass plant
SMP/SMC – San Miguel increases stake in Bank of Commerce
Sector
Banking – BSP may implement higher bank capital requirements in 1H 2011
more
Daily Navigator 13 January 2011
Corporate
AGI/MEG – Alliance Global finalizes Fil–Estate deal; Megaworld receives rating
FPH – Pipeline contractor finds extent of oil leak in Makati
Economy/Sector
Exports grow 11% in Nov
Telecoms – NTC removes download limit provisions
more
Daily Navigator 12 January 2011
Corporate
SMC – San Miguel Energy markets bond offering abroad
KPM – Keppel Marine expected to buy government stake in Subic Shipyard
MRC – MRC buys into a new copper–gold mine
Economy
Short–term interest rates slip anew
more
Daily Navigator 11 January 2011
Corporate
MPI/DMC – Maynilad plans P79bn capex for sewerage projects
EDC – Energy secures long–term Vis–Min supply contracts
AGI/LND – Alliance Global investment in Fil–Estate delayed
Economy
Short–term interest rates slip anew
more
Daily Navigator 10 January 2011
SMC – San Miguel energy unit plans to make initial debt issue
EDC – Energy to issue USD bonds anew
SMPH – SM Prime experiments with new retail business model
WEB – Philweb reports 29% rise in net profit
more
Daily Navigator 07 January 2011
Corporate
SMC – San Miguel deadline for due diligence of Indophil extended
ATS – Tender offer plans announced by Nenaco
FDC – Gotianun family starts buying Filinvest shares
Economy
Philippines gets an upgrade in credit outlook from Moody’s
more
Daily Navigator 06 January 2011
Corporate
MER – Meralco receives ERC approval for distribution rate hike
Economy
Government approves mass transit fare increases; Public transport association also ask for fare hikes
Inflation flat in December but new rate and fare increases to push it higher in 2011
more
Daily Navigator 05 January 2011
Corporate
FDC – Filinvest launches follow–on offering
MER – Meralco prepares for open access; anticipates big customers to shift supplier
Economy
Treasury plans US$1.0bn bond offer in 2011
more
Daily Navigator 04 January 2011
Corporate
SMC/ISM/Telecoms – San Miguel acquires stake in Easter Telecom
PCOR – Petron acquires stake in Manila North Harbour operator
Economy
International arbiter allows Fraport to pursue case on NAIA–3
more
Daily Navigator 03 January 2011
Corporate
AEV/ATS – Aboitiz Group completes sale of Aboitiz Transport to Nenaco
Sector
Energy – DOE looks for investors for six natural gas projects
more
Daily Navigator 23 December 2010
AGI/MEG/LND/FC – Alliance Global to buy 60% stake in Fil–Estate Lan more
Daily Navigator 22 December 2010
Corporate
MK – UEM to raise capital as it will assume NGCP liabilities
MER/PNB– Meralco borrows from PNB
ABS – TV5 gets TRO against another TRO filed by ABS–CBN
Economy
Fiscal surplus achieved in November despite below target collections

more
Daily Navigator 21 December 2010
MEG – Megaworld group to build record high unit sales
MER– Meralco to issue fixed–rate notes
PERC – Petroenergy’s Maibarara receives RE perks
PNB – Delayed sale of stake in US bank delays PNB–AlliedBank merger also
TEL/IP/EG – PLDT sells stake in... more
Daily Navigator 20 December 2010
NIKL – Nickel Asia releases 9m10 earnings results
EDC – Energy to stop drilling services; opts for outsourcing model
FGEN – First Generation secures additional credit facility
CEB – Plunge in share price opens doors for accumulation – Maintain BUY
more
Daily Navigator 16 December 2010
November OFW remittances continue to expand
BIR collections in November falls short of target
more
Daily Navigator 15 December 2010
Corporate
MER – Meralco clarifies TRO does not invalidate Napocor deal
Sector
Media – TV5 partners with Indonesian media company for international marketing
Power – PSALM seeks bidders for fuel supply contracts
IPOs – Puregold retailer to push for IPO in... more
Daily Navigator 14 December 2010
JGS – JG Summit to break ground on naptha cracker project
PSE – Phil. Stock Exchange President resigns
FLI – Filinvest pushes Cebu projects
MBT – Metrobank stock rights priced at P50/sh
more
Daily Navigator 13 December 2010
Corporate
JGS – JG Summit to sell Gokongwei shares to raise capital
PSE – Phil. Stock Exchange moves to appease SEC over CEO issues
SMPH – SM Prime pushes investments in Vis–Min region
Economy/Sector
Exports growth decelerate in October
more
Daily Navigator 10 December 2010
Corporate
DMC – DMCI consolidates stakes in power and mining subsidiaries
Economy/Sector
Vehicle sales slip in November
Mining – DILG orders South Cotabato provincial government to review open pit mining ban

more
Daily Navigator 09 December 2010
Corporate
BPI – Bank of Phil. Islands buys local ING Bank trust business
SMC – San Miguel plans free float increases; likely to exercise Petron option this month
Economy
Money supply decelerates in October
more
Daily Navigator 08 December 2010
Corporate
FDC – Filinvest Development to invest in two power plants
SMC – San Miguel preferred shares listed
Economy
Inflation rate accelerates slightly in Novembe more
Daily Navigator 07 December 2010
FPH – Department of Energy says three more pipeline areas need to be checked for leaks
AGI – Alliance Global to sell treasury shares to finance non–Metro tourism projects

more
Daily Navigator 06 December 2010
Corporate
PX – Philex allocates P3.0bn in capex for 2011
MK – NGCP application for maximum annual revenue approved by ERC
Sector
Infrastructure – BatMan pipeline may be included in PPP list
more
Daily Navigator 03 December 2010
Corporate
AT – Atlas borrows from BDO to refinance existing loans; includes new convertible loan
ALI – Ayala Land looks at former PCSO property for acquisition
Sector
Mining – DILG tells local government open pit mining ban goes against national law
more
Daily Navigator 02 December 2010
AEV/ATS – Aboitiz Equity sells stake in Aboitiz Transport to Nenaco
ALI – Ayala Land to issue P10bn in debt notes
BEL/BDO – Belle secures resort complex financing from Banco de Oro
more
Daily Navigator 01 December 2010
Corporate
PCOR/FPH – Petron benefits from the pipeline shutdown but investors should look beyond
FOOD – Hong Kong investor buys more Alliance Food shares
MER – Meralco secures funding from BPI
Economy
Short–term interest rates fall some more; new lows... more
Daily Navigator 30 November 2010
Corporate
MBT – Metrobank to raise more capital on rights offer
VLL – Vistaland launches 600ha master–planned city
PX – Forum seeks partners for Service Contract 72 after Philex funding
Economy
Imports surge on stronger peso; BOT surplus registered in... more
Daily Navigator 26 November 2010
Corporate
FDC – Filinvest Development prepares for capital hike
Economy
GDP grows 6.5% in 3Q10; below government target and validates CLCI slowdown view because of reduced infra spending
more
Daily Navigator 25 November 2010
SMC – San Miguel may purchase 100% of Indophil
MJC – Manila Jockey Club strike deal with Accor Group for hotel
CYBR – Cyberbay restructures debt; to seek reimbursement from government
DGTL – Digitel to offer wireless landline in Vis–Min
more
Daily Navigator 24 November 2010
Corporate
FPH – DENR imposes pollution fine on First Philippine Industrial
MPI – Metro Pacific estimates rehab of MRT will cost US$700m
Market Commentary
Markets to experience heightened regional risk as two Koreas exchange artillery fire
Treasury bond rates... more
Daily Navigator 23 November 2010
EDC– Energy shuts down Negros plant
RLC– Robinsons increases authorized capital
NIKL– Nickel Asia rises 10% on listing dat more
Daily Navigator 22 November 2010
FPH – Supreme Court issues writ of environment against FPIC
ROX/RCI – Roxas group may sell more shares to finance expansion
GLO/MBT – Globe secures financing from Metrobank
DMC – DMCI to list property unit
FGEN – First Generation to issue preferred shares
more
Daily Navigator 19 November 2010
Corporate
SMC – San Miguel plans to sell shares at P150/sh and raise US$3.0bn
Sector
Infrastructure – Eight PPP projects launched
more
Daily Navigator 18 November 2010
SM – SM Investments reports 17% growth in 3Q profit
FPH/EDC – First Philippine Holdings and Energy reports profits in 3Q from year ago losses
more
Daily Navigator 17 November 2010
Earnings/Corporate
AGI/MEG – Alliance Global Group and Megaworld net profit surge in 3Q10
SECB – Security Bank profits expand 90% in 3Q10
PCOR/ DMC – Petron profits to common flat in 3Q10; DMCI profits sustain rise on power
MPI/FEC – Metro Pacific may buy... more
Daily Navigator 10 November 2010
ALI – Ayala Land reports sustained 3Q10 profit growth
SMC – San Miguel buys minority stake of Republic Glass in MRT–7
more
Daily Navigator 09 November 2010
CHIB – Chinabank reports strong growth in 3Q profit
MK – UEM Development increases authorized capital; prepares for new investments
FPH – First Philippine Industrial finds source of pipeline leak; starts repairs
more
Daily Navigator 08 November 2010
AEV/AP – Aboitiz Group sustains earnings growth in 3Q10
ALI – Ayala Land adds Club Noah to tourism portfolio
NIKL – Nickel Asia sets IPO price
more
Daily Navigator 05 November 2010
TEL – PLDT earnings show flattish growth amidst
SMC/LIB – San Miguel invests anew in Liberty Telecom
more
Daily Navigator 04 November 2010
SMDC – SM Development will follow SM Prime in China property investments
CEB – US, UK, AUS, NZ warns citizens of possible terror threat in the Philippines
SMC – San Miguel group continues to prepare capital structure for financing of new investments in 2011
more
Daily Navigator 03 November 2010
RFM – RFM Corporation’s net profit shrinks in 3Q10
MPI/TOLL – Toll regulators consider large hike in SCTEx toll fee
NIKL – Our initial thoughts on the Nickel Asia IPO
more
Daily Navigator 02 November 2010
SMC – San Miguel secures rights to MRT–7 project development
FPH – Metro fuel shortage scenario pushes DOE to ask for exemption for oil tankers
DMC – DMCI postpones rehabilitation of Calaca to ensure power in 2011
AGI – Alliance Global joint–venture issues... more
Daily Navigator 29 October 2010
FPH – First Philippine oil pipeline ordered shutdown on West Tower leak investigation
GMA7 – GMA Network 3Q profit declines on lower ad spending
PSE – PSE changes composition of benchmark index
AGI – Alliance Global joint–venture issues US$300m bond
more
Daily Navigator 28 October 2010
JFC – Jollibee purchases majority stake in Guanxi beef noodle chain
PX – Philex reports strong growth in 3Q10 profit
more
Daily Navigator 27 October 2010
Corporate
CEB– Cebu Air completes IPO; initiating coverage with BUY rating
MPI – Metro Pacific awarded contract to manage/operate Lourdes Hospital
Economy
Imports growth rises in Aug10
more
Daily Navigator 22 October 2010
Corporate
AT – Atlas issues more shares as per convertible loan agreement
GMA7 – GMA Network signs deal for more transponder capacity
Economy
Fiscal deficit below target on reduced spending
more
Daily Navigator 21 October 2010
Corporate
IP – IPVG to get final payment for sale of BPO company
AP – Aboitiz power barge secures supply contract from Davao cooperative
PHN – Phinma reports decline in net profit on losses from some subsidiaries
Sector
Property – Sale of South Bonifacio... more
Daily Navigator 20 October 2010
BEL – Belle buys casino SPV via share swap; SM Group to become majority shareholder
SMDC – SM Development reports 9m10 net profit
more
Daily Navigator 19 October 2010
Corporate
JFC – Jollibee neutralizes competition with acquisition
AGI – Emperador boost profit with The Bar
Economy
Short–term interest rates fall
more
Daily Navigator 18 October 2010
AC – Ayala Corporation adds P5.0bn to share buyback; downgrade to SELL
PX – Philex partners with Australian miner to explore Negros copper–gold properties
BDO – Banco de Oro prices and increases size of Senior Note more
Daily Navigator 15 October 2010
SMPH – SM Prime raises P6.5bn in equity capital
ALI – Ayala Land looks to sell similar volume of residential units in 2011 as in 2010
AP – Aboitiz Power expects to add capacity to Luzon grid upon accelerated rehab of hydro
more
Daily Navigator 14 October 2010
LIB/SMC – Qatar Telecom seeks additional stake in Liberty
MEG – Megaworld group says reservation sales increased by 81%
BDO – Banco de Oro to issue Senior Notes
more
Daily Navigator 13 October 2010
Property – SEC asks industry to comment on DOF requested REIT changes
Exports surge in Aug10; ASEAN bloc remains fastest growing destination for goods
Five–year Treasury yield declines
more
Daily Navigator 12 October 2010
SMC – San Miguel may buy Indophil after due diligence
ABS – News and current affairs chief plans to leave ABS–CBN
ANI – Agrinurture buys two trading firms in China
more
Daily Navigator 11 October 2010
SMC – San Miguel invests in Indophil/Tampakan project
JGS – Cebu Pacific IPO at P125/sh
AT – Atlas expects strong profits in 2010 and revenue growth in 201 more
Daily Navigator 08 October 2010
Corporate
FPH/FGEN – Foreign investors interested in British Gas stake in natgas power plants
SM – SM Investments to issue US$400m in 2017 bonds
PSE – REIT listings in 2010 unlikely; PSE eyes 2011 REIT listing
Economy
Vehicle growth continues to surge
more
Daily Navigator 07 October 2010
Corporate
PCOR – Petron explores financing options for refinery upgrade
SM – SM Investments receives tenders for 25% of potential bond swap
Sector
Media – ABS asks courts to stop Revillame show in TV; GMA7 still says it leads in Mega Manila
more
Daily Navigator 06 October 2010
Corporate
AGI – Alliance sets P6.6bn profit target for 2010
Sector/Economy
Property – REITs implementation faces delay on DOF required amendments
Inflation slows down in September
more
Daily Navigator 04 October 2010
Sector
WESM in Visayas nears operation in 4Q10
Corporate
PCOR – Petron partners with Liberty shareholder to incorporate Limay power company
more
Daily Navigator 01 October 2010
Philippines raises US$200m in debt; restructures debt maturity schedule with bond swap;
PPP projects likely to be debt funded – not equity as earlier marketed
more
Daily Navigator 30 September 2010
ALI – Ayala Land sets up first REIT company
FGEN/FPH – First Phil Holdings partner sells stake in Batangas plants to Kepco
SM – SM Investments prices new bond issue intended for debt exchange
UBP – Lopez and Unionbank agree to restructure Eurobonds
more
Daily Navigator 29 September 2010
Corporate
MER – Meralco projects higher than target net profit for 2010
Economy
Imports growth recovers in July after slowdown in June
Longest–term treasury yields also decline substantially
more
Daily Navigator 28 September 2010
PX – Philex reorganizes oil and energy assets under Philex Petroleu more
Daily Navigator 27 September 2010
SMPH – SM Prime launches new China malls; plans new Sucat mall
PCOR – Petron increases refinery upgrade budget to enhance competitiveness
TOL – Metro Pacific Tollways seeks changes to capital funding for upcoming projects
more
Daily Navigator 24 September 2010
DGTL – Digitel claims 70% of incremental post–paid market
LOTO – Pacific Online plans sale of treasury shares
BHI – Boulevard to pursue expansion of Fridays beach resort chain
more
Daily Navigator 23 September 2010
SM – SM Investments plans bond swap to extend debt maturity and lower cost of capital
RCB – RCBC to sell shares to new investors in plan to boost core capital
BDO – Banco de Oro converts some in–the–money Atlas warrants into common shares
more
Daily Navigator 22 September 2010
Corporate
LC/LCB – Lepanto sells option to buy controlling stake in Far Southeast Gold
TEL – First Pacific issues bonds secured with PLDT shares
more
Daily Navigator 21 September 2010
Corporate
VLL – Vista Land plans USD bond offering
MWC – Manila Water to build new reservoir in QC
SMC – San Miguel eyes coal and oil exploration investments anew
AP – Hedcor plans smaller hydro power plant in Davao
Economy
Fiscal surplus achieved in... more
Daily Navigator 20 September 2010
Corporate
PCOR – Petron begins five–year pull–out from Pandacan
TA – Trans–Asia sells Cadlao service contract interest
Sector
Media – Willie Revillame signs up with TV5
more
Daily Navigator 16 September 2010
Corporate
PIP – Pepsi voluntarily suspends trading on announcement this morning
SMC – San Miguel plans LNG plant in Ilocos Norte; Purefoods makes capital changes
PX – Philex also considers Didipio gold project
Economy
OFW remittances expands 8% in July more
Daily Navigator 15 September 2010
Corporate
VLL – Vista Land plans expansion of low–density buildings portfolio; may do bond offering
Sector
Property – DOF wants REITs issuers to sell more to the public
Economy
Yield on 10–year Treasury bond declines by more than a percentage point
more
Daily Navigator 14 September 2010
Corporate
FOOD – Alliance Foods suspends negotiations with Vietnamese acquisition target
ABA – PNOC rejects unsolicited offer for BatMan1
Sector
Banking – Basle 3 approves new capital adequacy ratios
more
Daily Navigator 13 September 2010
SMDC – SM Development to offer 1.8bn new shares
PF/PFB – Purefoods awarded license to produce Gold Label flour
AP/MER – Aboitiz to sell contracted capacity to Meralco
more
Daily Navigator 09 September 2010
JFC/EURO – Jollibee terminates Delifrance franchise; sells assets to Euro–Me more
Daily Navigator 08 September 2010
Corporate
ALI – Ayala and Campos to help finance Bonifacio Global City access projects
PCEV/TEL – Piltel gives up frequency license to Smart
Economy
Inflation accelerates in Aug10
more
Daily Navigator 07 September 2010
SM – SM Land’s unsolicited proposal for South Bonifacio draws six initial challengers
BEL – Belle talks to banks to help finance casino project
FGEN – FirstGen secures debt financing for capex
more
Daily Navigator 06 September 2010
EDC – Energy Development completes BacMan acquisition
RCI – Roxas Group pushes thrust to produce higher–value sugar products
PX – Philex production output up 11%
more
Daily Navigator 03 September 2010
GMA7 – New Nielsen survey shows GMA Network gaining ground
UEM – Henry Sy Jr. to buy into UEM; may serve backdoor listing for NGCP
RFM – RFM Corp. plans debt issue
more
Daily Navigator 02 September 2010
SMC/PCOR – San Miguel buys additional shares of Petron
MER – Meralco files rate hike application
RCB – RCBC to raise capital with planned share sale
more
Daily Navigator 01 September 2010
Treasury yield for 7–year bond declines by more than a percentage point
Light Railway Transit fares may double on DOTC plans
more
Daily Navigator 31 August 2010
PX – Philex considering Tampakan copper project investment
JGS – Cebu Pacific to try IPO for third time
SMC/SMCB/PECB – San Miguel urged to convert Limay to natural gas
TOL/MPI – Metro Pacific Tollways increases authorized capital
more
Daily Navigator 27 August 2010
Corporate
PCOR – Petron prepares board of directors for entry of new investors
Economy
Economic growth sustained in 2Q10
more
Daily Navigator 26 August 2010
Corporate
MPI – Metro Pacific adds small indirect stake in Skyway owner
JGS – Attempt number three for Cebu Pacific IPO
Economy
Imports lose momentum in Jun10; ASEAN trade deficit more pronounced
more
Daily Navigator 25 August 2010
AT – Toledo Mining looks for long–term supply contract in exchange for stake in Berong
FOOD – Alliance Select Indonesian subsidiary to borrow for working capital
more
Daily Navigator 24 August 2010
Corporate
DFNN – DFNN gives global online gaming company option to buy strategic stake
Market Commentary/Economy
Hostage crisis has negative impact on market and tourism related stocks
91–day Treasury bill rate declines
more
Daily Navigator 23 August 2010
Corporate
SMC/PF – San Miguel will sell only minority stake in Purefoods; turns down offers
AEV/UBP – Aboitiz Equity buys more Unionbank shares from open market
DMC – DMCI in talks to sell AG&P
Economy
DOF seeks private sector funding for infrastructure projects;... more
Daily Navigator 20 August 2010
Corporate
ICT – ICTSI boosts stake in Argentina port of La Plata
FPH – First Holdings reflects 52% decline in 2Q10 profit
Economy
Fiscal deficit at P229bn in first seven months
more
Daily Navigator 19 August 2010
LPZ – Lopez Holdings reported 46% decline in 2Q10 profi more
Daily Navigator 18 August 2010
Corporate/Earnings
PCOR – Petron net profit up 10% in 2Q but profit to common suffers decline
PNB – Philippine National Bank 2Q profit gains 14% on the back of forex gains
Economy
BIR pushes 7m10 collections to P467bn
more
Daily Navigator 17 August 2010
Corporate
SMC/SMCB – San Miguel gets controlling stake of Bell Telecommunication
DMC– DMCI almost doubles net income for 1st half
PSE– PSE income surges 91%
Economy
OFW remittances up 8.3% for Jun more
Daily Navigator 16 August 2010
AC – Ayala reports 2Q10 profit growth on the back of exceptional gains/charge

FLI – Filinvest Land reports 60% boosting 2Q10 profit

AGI – Alliance Global issues seven year USD bonds

more
Daily Navigator 13 August 2010
SMC/SMCB – San Miguel reports stable 7% growth in 2Q profit
VLL – Vistaland core profit gains 13% in 2Q
GMA – GMA Network profit slides 2.5% in 2Q10
MEG – Megaworld 2Q profit shows improvement
SM – SM Land offers to buy and develop Army Navy land for P48bn
more
Daily Navigator 12 August 2010
SMC/SMCB – San Miguel proposing flood control projects for reclaimed area
AGI – Alliance Global reports higher 2Q10 profit on financial asset sales and valuation
ICT – Booming LatAm region encourages ICTSI ports expansion in the region
SECB – Security Bank reports... more
Daily Navigator 11 August 2010
Corporate
ABS – ABS reports decline in 2Q10 earnings; share buyback for ESOP
APX/APXB – Apex Mining converts payables to equity to reduce capital deficiency and leverage
Economy
Exports sustain growth in June; BTr issues RTBs
more
Daily Navigator 10 August 2010
Corporate
MWC – Manila Water post 34% growth in 2Q10
FPH – DOE may opt to use FPH pipeline instead of Batman
ABS – Key ABS talent wants contract cancelled
Sector
K–Water cannot buy Angat; MWC insists on La Mesa control
more
Daily Navigator 09 August 2010
Corporate
ALI – Ayala Land upgraded to No Action from Sell following positive 2Q10 earnings results
Sector
SMC President offers to buy Pagcor if privatized
more
Daily Navigator 06 August 2010
Corporate
SM – SM Investments upgrades profit target on back of healthy 1H profit growth
PX – Philex 2Q10 profit declines on low copper production and weak prices
Economy
Inflation stable in July
more
Daily Navigator 05 August 2010
MPI – Metro Pacific core profit expands 3x in 2Q10
AP – Aboitiz to push through with Subic coal project
more
Daily Navigator 04 August 2010
ALI – Ayala Land to invest in Tianjin Eco–City
TEL – PLDT reports mild gains in 1H 2010 net profit
GLO – Globe reports continued decline in quarterly profit for 2Q
more
Daily Navigator 03 August 2010
PAL/Economy – Shortage of pilots forces PAL to cancel flights; tourism disruption feared
BDO/EIBA – Export–Industry approves sale of assets to BDO and insurance unit
PLTL/TEL – Piltel reports decline in 1H 2010 earnings
more
Daily Navigator 02 August 2010
ABS – ABS–CBN to buy back P2.5bn worth of shares
BPI – Bank of Philippine Islands offers stock at large discount
EDC – Energy Development plans expansion and rehab of renewables capacity
more
Daily Navigator 30 July 2010
ABS – ABS–CBN to buy back P2.5bn worth of shares
BPI – Bank of Philippine Islands offers stock at large discount
EDC – Energy Development plans expansion and rehab of renewables capacity
more
Daily Navigator 29 July 2010
Corporate
ABA – Abacus proposes to build Laiban – very much like San Miguel
MER/DMC – Meralco may partner with DMCI to expand Calaca capacity
PX – DOE to review all issued energy contracts; trains cross–hairs on Forum’s SC
JFC – Jollibee to put up food... more
Daily Navigator 27 July 2010
Corporate
MER – Meralco reports sustained profit growth in 2Q10
APO/AT – Anglo Philippines extends loan terms to Atlas Mining
Market Commentary
SONA Analysis: Plan calls for structural change; fiscal stimulus package at risk; some winners
more
Daily Navigator 28 July 2010
Corporate
SMC/SMCB – San Miguel to offer common shares to raise P75bn in capital
MER – Meralco targets around 600MW for power generation; higher billing costs expected
ALI – Ayala Land upgrades residential unit sales target for 2010
Economy
Merchandise imports... more
Daily Navigator 26 July 2010
Corporate
PF/URC/SMB– URC and Unilab shift to due diligence of Purefoods
GLO– Globe to construct new HQ
BEL– Belle in talks with operators
Economy
ERC finally issues feed–in syste more
Daily Navigator 23 July 2010
Market Commentary
SONA on Monday: What we want and expect to hear from President Aquino
more
Daily Navigator 22 July 2010
Corporate
APX – Apex tests at Maco yields high–grade gold deposits
PNX – Phoenix revenues continue to grow on the back of network expansion
Economy
Fiscal deficit in 1H 2010 way ahead of target
more
Daily Navigator 21 July 2010
Corporate
ALI – Ayala Land launches new luxury condominium project at Serendra
Economy
7–year T–Bond yield declines sharply
more
Daily Navigator 20 July 2010
Corporate

PF/PFB/SMC/SMCB – San Miguel values Purefoods at US$1.3bn

MPI/DMC – Maynilad seeks funding for sewerage projects

MAC – Macroasia plans share buyback program; prepares for new investor

Economy

BIR falls short of collection... more
Daily Navigator 19 July 2010
Corporate
PCOR – Petron bares capex plans for 2010/2011
BPI – Bank of the Philippine Islands looks at 13% profit growth in 2010
Sector
Telecoms – Last 3G license for sale; bidder complains of collusion
more
Daily Navigator – 16 July 2010
OFW remittances grow 7% in May 2010
Monetary policy stance remains neutral
BIR and DOF launch anti tax evasion program with high profile case
more
Daily Navigator 15 July 2010
Corporate
ALI – Alveo launches Venare at Nuvali
Sector
 Ports and Logistics– Labor strike paralyzes port operations in Manila; causes traffic
Water Utilities – MWSS to develop several water sources instead of one big source
Energy and Logistics – Pilipinas... more
Daily Navigator 13 July 2010
Corporate
PCOR– expanding petrochem facility and business
SMC – pushes for oil depot move to Manila North Harbor
Sector
Water utilities – Angat Dam breaches lowest water elevation
more
Daily Navigator 12 July 2010
Corporate
FPH – FPH announces shares buyback plan
AP – ERC approves ancillary contract of Sector
Economy – Vehicle sales rise in June
more
Daily Navigator 09 July 2010
Corporate
AP – Aboitiz rehab of Ambuklao delayed to late 2011
GMA7 – tied with ABS–CBN in Mega Manila June
RFM – RFM reports strong net profit expansion for 5m 2010
Economy
Government to go for more peso debt
more
Daily Navigator 08 July 2010
Corporate
TEL – PLDT to consolidate BPO operations
Sector
Power – WESM may charge higher market fees
Economy – Money supply growth continues to decelerate
more
Daily Navigator 07 July 2010
Corporate
ABS–CBN reiterate audience rating leadership
Sector
Inflation declines in June; long–term yields fall
more
Daily Navigator 06 July 2010
Corporate
EDC – EDC drilling contract extended
Economy/Sector
Power – DOE holds off decision on Malampaya/Batman projects
Treasury plans retail bond offering
SLTC suspends toll increase at SLEX
more
Daily Navigator 05 July 2010
Corporate
RLC – Robinsons to redevelop Galleria mall
TA – Trans–Asia may double capacity of planned Calaca power plant
Sector
Power – Kepco advises postponement of privatization for three plants
more
Daily Navigator 10 July 2010
Corporate
SMC/SMCB – Kepco encourages San Miguel to expand Ilijan capacity
MPI – Metro Pacific sells North Harbor to partner
BDO/EIBA – Central Bank expected to give Go signal for BDO purchase of EIB
Sector
Mining – South Cotabato bans open pit mining;... more
Daily Navigator 29 June 2010
SMC/SMCB – San Miguel goes for North Harbor to replace Mariveles grains loss
MPI – Metro Pacific to invest in Pampanga tourism and infrastructure
AP – Aboitiz to add more capacity to Mindanao plant
IMI – IMI Electronics buys controlling stake in PSI Technologies
more
Daily Navigator 28 June 2010
Corporate
SMC/SMCB/MPI – San Miguel to replace Metro Pacific as North Harbor concession partner
EDC – Energy Development settles/refinances legacy Miyazawa loan
AT – Atlas buys new equipment and expands ore production
Sector/Economy
Mining – South Cotabato... more
Daily Navigator 24 June 2010
Corporate
PX – Philex goes for P2.0bn profit goal; starts feasibility for Silangan
AT – Atlas discussing with interested parties for additional investment
Sector
Cement/Consumer – Sugar and cement prices inflating; Sell Pepsi, Buy Holcim
more
Daily Navigator 23 June 2010
Fiscal deficit balloons in May10; 10–year T–bond rate fall more
Daily Navigator 22 June 2010
MER – Meralco files for new rate hike for incoming regulatory period
MWC – Manila Water president may be appointed to DOE
GMA/ABS – GMA Network and ABS–CBN claim market leadership during election period
TOL/MPI – Citra to challenge Metro Pacific for... more
Daily Navigator 21 June 2010
MER – Meralco files for new rate hike for incoming regulatory period
MWC – Manila Water president may be appointed to DOE
GMA/ABS – GMA Network and ABS–CBN claim market leadership during election period
TOL/MPI – Citra to challenge Metro Pacific for... more
Daily Navigator 18 June 2010
Corporate
SMC/SMCB/PECB – San Miguel negotiates for another coal mine; Purefood bidding enters haggling stage
BPI – Bank of the Philippine Islands looks for capital boost via stock rights
Economy/Sector
Consumer – Flour millers reduce prices; bakers concerned over... more
Daily Navigator 17 June 2010
Sector
Malaya IPPA contract bidding fails
Economy
DTI sets price ceiling on flour on suspicion of profiteering
OFW remittances rose 5% in Apr10
more
Daily Navigator 16 June 2010
Sector
Capital adequacy ratio above Basle requirement
Economy
Unemployment rate higher in April, upgraded economic targets
T–bill rates increased
more
Daily Navigator 15 June 2010
Corporate
MWC – Manila water cuts tariffs on currency appreciation
BPC – Lopez Corp looks to restructure remaining debt
SMC/SMCB – San Miguel in talks with new investor for packaging stake
Sector
Media – Digitel TV standard approved
more
Daily Navigator 11 June 2010
Corporate
SMC/SMCB/MPI – NutriAsia submits attractive bid for Purefoods; winner known next week
MPI/TOL – Harbour Centre to buy out Metro Pacific in North Harbor
Economy
Exports expand in Apr10
more
Daily Navigator 10 June 2010
SMC/SMCB/MPI – San Miguel may join forces with First Pacific to develop Clark International Airport;
MPI/TOL – Metro Pacific secures SCTEx tollroad operating contract
SMC/SMCB – San Miguel to bid for Naga power
more
Daily Navigator 09 June 2010
Corporate
TKC – Blast furnace completion scheduled for July
SMC/SMCB – San Miguel considers partnering with PNOC–EC for coal power plant
Economy
Congress set to proclaim President and Vice–President today
Money supply expands in Apr10
more
Daily Navigator 08 June 2010
Corporate
TOL/MPI – DPWH gives go signal for NLEx–Skyway–SLEx elevated link road
MEG – Megaworld to develop condo project in CCP complex with GSIS
PX – Philex may spin–off oil and gas field development projects
Economy
Government approves... more
Daily Navigator 07 June 2010
Corporate
AP/SMC/EDC – Hydropower plants start operations with the onset of the rainy season
BRN – Brown buys back 300m common shares
Economy
Inflation at 4.3% in May10
more
Daily Navigator 04 June 2010
SMC/SMCB/ATI – Asian Terminals sells grains terminal to San Migue more
Daily Navigator 03 June 2010
MPI – Ports regulator concerned over Metro Pacific and partner talks for concession control
DMC – DMCI Homes targets 20% annual growth for five years
MWC – Water treatment plant in Taguig gets approval from Department of Defense
more
Daily Navigator 02 June 2010
Corporate


BDO/EIB/EIBA – Despite delay, Banco de Oro still keen on acquiring Export–Industry


Sector


Power – Power shortages in Luzon loom as plants shut down


more
Daily Navigator 01 June 2010
Corporate
DGTL – Digitel plans US$350m capex for 2010
SMC/SMCB – San Miguel approves diversification plans; declassification of shares
Industry/Economy
Cement – Industry Price increases planned amidst slower growth expectations
Bureau of Treasury rejects... more
Daily Navigator 01 June 2010
Corporate
DGTL – Digitel plans US$350m capex for 2010
SMC/SMCB – San Miguel approves diversification plans; declassification of shares
Industry/Economy
Cement – Industry Price increases planned amidst slower growth expectations
Bureau of Treasury rejects... more
Daily Navigator 01 June 2010
Corporate
DGTL – Digitel plans US$350m capex for 2010
SMC/SMCB – San Miguel approves diversification plans; declassification of shares
Industry/Economy
Cement – Industry Price increases planned amidst slower growth expectations
Bureau of Treasury rejects... more
Daily Navigator 31 May 2010
MPI – Metro Pacific plans acquisition or sale of North Harbor concession stake
SM/SMDC – SM considers increase of SMDC float through secondary offering
AB/ABB – Atok Big–Wedge plans new mining investments

more
Daily Navigator 28 May 2010
Corporate
TUNA – Alliance Tuna increases stake in Indonesian canned tuna subsidiary; changes corporate name
Economy
GDP grows 7.3% in 1Q10; beats market expectations; validates our market analysis and strategy
more
Daily Navigator 27 May 2010
Corporate
AC – Ayala doubles share repurchase budget;
PCOR/SMC/SMCB – Petron power plant joint–venture with San Miguel is a no–go
Economy
Imports surge in Mar10
more
Daily Navigator 26 May 2010
Corporate
SMC/SMCB – San Miguel buys coal mines; now has biggest coal reserves in the Philippines
MER – Meralco expects 57% growth in net profit for 2010
Economy
President Arroyo cuts tariffs for oil and steel products to zero
more
Daily Navigator 25 May 2010
Corporate
TKC – TKC Steel losses mount on higher electricity and raw material costs
Sector
Energy – PNOC to conclude BatMan–1 negotiations by Jun10
more
Daily Navigator 24 May 2010
AC – Ayala closes voting preferred issuance at 5.3%
SMC/SMCB/PF/PFB/JGS/URC – JG Summit Group interested in bidding for Purefoods
more
Daily Navigator 21 May 2010
Corporate
PERC – PetroEnergy reports two new wells in Africa project
PNX/ISM – SSS and Ortigas acquire stakes in Phoenix and ISM, respectively.
Economy
DOF achieves fiscal surplus in Apr10
more
Daily Navigator 20 May 2010
GMA7 – GMA Network reports strong 1Q10 profit growth on the back of surge in political ads; Maintain No Action.
TUNA – Alliance Tuna reports surprising surge in 1Q10 profit
PERC/TA – PetroEnergy ties up with Trans–Asia Oil and PNOC Renewables
more
Daily Navigator 19 May 2010
AC – LiveIT subsidiary, Integreon, gets big catch; secures CMS Cameron in major contract
VLL – Vista Land reports healthy growth in 1Q10 sales and profit
more
Daily Navigator 18 May 2010
Corporate
SMC/SMCB/LIB/PCOR – San Miguel reports 7% growth in 1Q10 profit
Economy
OFW remittances grow by 6% in Mar10
more
Daily Navigator 17 May 2010
AC – Ayala net profit declines slightly in 1Q10
JFC – Jollibee profit surges in 1Q10
more
Daily Navigator 14 May 2010
SMC/SMCB – San Miguel to buy US$2.0bn energy company
TEL – PLDT reports 3% growth in 1Q10 core net profit
ABS – ABS–CBN reports 268% growth in 1Q10 net profit
IMI – IMI Electronics reports reversal from 1Q09 loss to net profit in 1Q10
MEG – Megaworld reports... more
Daily Navigator 13 May 2010
Corporate
SMP – San Miguel Properties to launch four new projects
AMC – Alaska Milk reports 165% growth in 1Q10 net profit
Economy
Exports surge 44% in Mar10
more
Daily Navigator 12 May 2010
MWC – Manila Water joins forces with Japanese partners to buy Australian water utility
JGS – JG Summit merges with Litton Mills and two other subsidairies
more
Daily Navigator 11 May 2010
Corporate
SMC/SMCB – Top Frontier secures voting rights of Cojuangco through option
Market Commentary
Aquino leading Presidential candidate; Binay leading presidential candidate
A look into Aboitiz and Ayala Land earnings
more
Daily Navigator 07 May 2010
Corporate
ATS – Aboitiz Transport reports 1Q losses; positive view maintained
CHIB – Chinabank continues to report good profit growth in 1Q10
EDC – Energy reports profits doubled in 1Q10 on the back of new power plants
Economy
DJIA declines big time in intraday... more
Daily Navigator 06 May 2010
Corporate


MPI – Metro Pacific reports 1Q10 core profit doubled


PSE – PSE changes composition of PSEi


FGEN – Lopez group secures Bac–Man geothermal plants


JFC – Jollibee to invest in Korean Coffee chain

more
Daily Navigator 05 May 2010
MPI – Metro Pacific buy control of Bacolod hospital
GLO – Globe Telecom reports 26% decline in 1Q10 profit
DMC – DMCI announces $1.1bn contract for MRT–7 construction together with Marubeni
JFC – Jollibee buys into China beef noodle restaurant chain
more
Daily Navigator 04 May 2010
MPI/TOL – Metro Pacific submits proposal for NLEx–SLEx link–up road
PSE – PSE to tighten rules on listing; reports decline in 2009 profit
BPI – Bank of Philippine Islands reports slight decline in 1Q10 profit
RFM – RFM Corp. reverses losses in 1Q09; reports... more
Daily Navigator 30 April 2010
Corporate
MER – Meralco core profit expands 135% in 1Q10
PSE – Pasig court allows full broker voting in Philippine Stock Exchange meeting
SMC/SMCB – Moodys downgrades San Miguel over Petron control
Market Commentary
Aquino lead validated by Pulse Asia survey
more
Daily Navigator 29 April 2010
Corporate
SM – SM Investments net profit growth at 14% in 1Q10
MBT – Metrobank net profit rises 32% in 1Q10
Economy/Sector
Power – Korea Water takes home Angat hydroelectric contract
BSP upgrades forecasts for BOP and trade
more
Daily Navigator 28 April 2010
Corporate
BDO – Banco de Oro doubles net profit in 1Q10
MPI – Manila North Harbor reduces port tariffs
SMPH/BEL – SM Prime and Belle report respective 1Q10 net profit
Economy
Fiscal deficit rises in 1Q10; more than programmed targets
Imports continue to... more
Daily Navigator 27 April 2010
Corporate
SMC/SMCB – San Miguel to exercise Petron control option; authorizes tender offer;
SMDC– SMDC reports surprisingly strong growth in 1Q10 net profit and unit sales;
ALI – Ayala Land invests in El Nido resorts operator
Market Commentary
April SWS survey... more
Daily Navigator 26 April 2010
SMC/SMCB – San Miguel to partner with Global 5000 as power subsidiaries recapitalize
UBP– Unionbank reports strong growth in 1Q10 net profit
more
Daily Navigator 23 April 2010
VLL – Estrada/Enrile accuse Villar of impropriety over Vistaland offering
AC – Ayala to issue voting preferred shares
more
Daily Navigator 22 April 2010
Corporate
MPI – Shipping group complains over Metro Pacific takeover over North Harbor
DGTL – Digitel ends losses with 2009 profit report
BCI – Bacnotan to rename itself Phinma Corp. and focuses on wind power generation
Economy
Government issues USD/EUR bonds more
Daily Navigator 21 April 2010
JGS – JG Summit reports surge in 2009 reported profit, double–digit gains on core profit
PX – Forum Energy needs funding for Sampaguita oil field
PERC – Petroenergy to offer shares for Makiling geothermal power project
more
Daily Navigator 20 April 2010
Corporate
ALI/ETON/PNB – Ayala Land to develop selected Lucio Tan properties
BDO – Banco de Oro secures new investors, more capital through private placement
FPH/EDC – First Philippine Holdings buys some Energy shares
Sector
Consumer – Sugar for exports... more
Daily Navigator 19 April 2010
Corporate

SMC/SMCB – San Miguel submits highest bid for Ilijan

VLL/MEG – Vistaland and Megaworld report 2009 earnings

RLC – Robinsons launch new brand for budget hotels

Economy/Sector

Consumer – sugar production target for 2010... more
Daily Navigator 16 April 2010
DMC – DMCI Power submits letter of interest for Angat hydropower
TEL/MPI – PLDT retirement fund sells 7% stake in Metro Pacific
more
Daily Navigator 15 April 2010
SMC/SMCB – San Miguel reports net profit of P57.8bn in 2009
ALI – Ayala Land preparing for REIT issuance in 2H 2010
more
Daily Navigator 14 April 2010
Corporate
ATS – Abotiz Transport boosts capex budget;
Economy
Exports continue strong growth on recovery
more
Daily Navigator 13 April 2010
SMC/SMCB – San Miguel enters aviation industry
MWC – Manila Water focuses on projects in India
IMI – IMI Electronics opens new plant in China
ICT – ICTSI reports accident in its Ecuador port
more
Daily Navigator 12 April 2010
Sector
Water concessionaires propose multiple source approach to water supply situation
Economy
Vehicle sales rise strongly in 1Q10
Bank lending rates still low in Feb10
more
Daily Navigator 08 April 2010
Corporate
FLI – Filinvest Land reports healthy profit for 4Q09, 2009
MER – Meralco confirms rate hike application
Economy/Market Commentary
Power and water crisis intensifies as temperatures rise and breakdowns happen
more
Daily Navigator 07 April 2010
Corporate
MPI – Metro Pacific nears takeover of North Harbor
Economy/Market Commentary
PulseAsia voter survey in March shows Senator Aquino maintain ratings and lead
Inflation accelerates in Mar10
more
Daily Navigator 06 April 2010
Corporate
SMC/SMCB – San Miguel signs MOU to buy controlling stake in MRT–7
PNX – Phoenix reports 2009 net profit
Sector
Gaming – Razon of ICTSI invests in company licensed to develop casinos in Pagcor City
more
Daily Navigator 05 April 2010
Corporate
SCC/DMC – Semirara reports strong growth in 2009 profit
JGS – Cebu Pacific delays IPO again, cites elections as the reason
BDO/ASIA – Banco de Oro interested in buying Asiatrust
Economy
BSP approves OFW bond issue
more
Daily Navigator 31 March 2010
Corporate
MER/MPI/PLTL/FPH – SPV Beacon executes portion of Meralco consolidation plan for First Pacific Group
COL – Citiseconline.com reports 2009 net profit
Economy
Treasury Bureau plans smaller OFW bond issue
more
Daily Navigator 30 March 2010
Corporate
PCOR – Petron reports 2009 net profit; below consensus
ACR – Alsons reports 2009 net profit; bioethanol project cancellation; power plant construction
Market Commentary
SWS survey: Aquino keeps ratings steady; Villar loses voter rating points
more
Daily Navigator 29 March 2010
Corporate
SMC/SMCB – San Miguel sells office building to Bank of Commerce; considers Clark airport investment
BEL – Belle talking with Harrah’s for casino entertainment
EDC – Energy Development reports higher 2009 net profit
MPI – Shipping organization raises... more
Daily Navigator 26 March 2010
GMA7 – GMA Network meets 2009 profit target
SMC/SMCB – San Miguel considering domestic bullet train project
more
Daily Navigator 25 March 2010
Corporate
RCB – RCBC to issue P5.0bn in long–term deposits
SMC/SMCB – San Miguel drops conversion plans for Limay
PSE – Phil. Stock Exchange drafts rules to control trading of extremely low free–float companies
Sector
Bayantel gets restraining order... more
Daily Navigator 24 March 2010
Corporate
FGEN – FirstGen to raise debt for refinancing and expansion
MPI/PLTL/FPH/MER – Beacon of Metro Pacific–Piltel to exercise call option on Meralco
Economy
Fiscal deficit narrows in Feb10
more
Daily Navigator 23 March 2010
Corporate
FGEN – FirstGen reports rise in 2009 profit
MIC – Pagcor ties up with Manila Jockey for casino development
DFNN – Court provides injunction against PCSO cancellation of equipment contract
Sector
Consumer – Sugar exporters to get rights to replace... more
Daily Navigator 22 March 2010
Corporate
TUNA – Alliance Tuna to set up domestic salmon processing venture with NZ partner
TOL/MPI – Metro Pacific in Japan to study tollway technology and possible partnerships
PSE – Philippine Stock Exchange to separate regulation functions
Sector
Power –... more
Daily Navigator 19 March 2010
ALI – Ayala’s new low–income market brand launches project in Laguna
MEG – Megaworld confirms winning Jusmag property development bid
VLL – Camella of Vistaland to launch 22 projects in 2010
SMC/SMCB/PCOR – San Miguel to exercise Petron control option
more
Daily Navigator 18 March 2010
BRN – Monte Oro sells stake in transmission concession to Henry Sy, Jr. company
AC/MPI/FGEN – Ayala, Metro Pacific, FirstGen join forces for Angat bidding
AC – Ayala Corp. to issue retail bonds
more
Daily Navigator 17 March 2010
Corporate
DMC – DMCI starting TPLEx construction in Apr, Skyway construction ahead of schedule; change in recommendation from Buy to No Action
Economy/Sector
Unemployment declined in Jan10
Gaming – Foreign investors now allowed in gaming industry
more
Daily Navigator 16 March 2010
Corporate
SMC/SMCB – San Miguel to invest in company involved in the Caticlan airport upgrade
LOTO – Pacific Online reports strong 2009 profit growth but weaker 4Q09 sales
Economy/Sector
OFW remittances sustain growth in Jan10
MWSS considers existing Metro water... more
Daily Navigator 15 March 2010
PF/PFB/SMC/SMCB – San Miguel Purefoods plans to raise funds for debt, acquisitions
TUNA – Alliance Tuna hikes stake in NZ Prime
GMA7 – GMA Network reports surge in revenues on political ads
MPI – Labor groups reject PPA settlement offer
more
Daily Navigator 12 March 2010
Corporate
MBT – Metrobank reports 2009 net profit
AEV – Aboitiz Equity Ventures to acquire 100% of City Savings Bank
RLC – Robinsons Land to list bonds on PDEx
Economy
BSP decides to remove liquidity boosting rediscounting measures; keeps policy rates steady more
Daily Navigator 11 March 2010
Corporate
SMC/SMCB – Top Frontier begins tender offer for San Miguel
SCC/DMC – Semirara guarantees subsidiary debt used to pay Calaca purchase
AP – Aboitiz Power plans capital issues for planned power investments
Economy
Exports continue strong recovery – ICTSI... more
Daily Navigator 10 March 2010
Corporate
PCOR – Petron to buy into a petrochemical plant with a partner
ABS – Contractual workers at ABS–CBN form union to demand more benefits/job security
Economy/Market Commentary
PulseAsia and SWS release Feb10 voter preference survey results; conclusions... more
Daily Navigator 09 March 2010
AC – Ayala reports flattish earnings growth in 2009
PX – Philex reports decline in net profit in 2009; CLCI profit forecast close
SMC/SMCB – San Miguel confirms purchase of coal mine from Crew Gold
JGS – Cebu Pacific IPO retake

more
Daily Navigator 08 March 2010
MPI/TOL – Metro Pacific plans capital raising activities
MEG – Megaworld bids aggressively for Jusmag
SMC/SMCB – San Miguel planning to develop Mindanao power plant
more
Daily Navigator 05 March 2010
Corporate
ICT – ICTSI reports growth in 4Q09 for profit and TEU volume
AP – Aboitiz Power reports continued growth in 2009 profits
AMC – Alaska Milk reports strong growth in 2009 profit on lower skimmed milk costs
EEI – EEI joint–venture awarded large contract... more
Daily Navigator 04 March 2010
MPI – Metro Pacific Investments reports 2009 net profit
SMC/SMCB – San Miguel to acquire MRT–7 consortium control
more
Daily Navigator 03 March 2010
SMC/SMCB – San Miguel acquires stake in proponent to build NLEX alternative toll road
TEL/PLTL – PLDT reports within expectations profit; provides conservative 2010 guidance
ION – Ionics to delist subsidiary in Singapore
more
Daily Navigator 02 March 2010
MPI/MER/PLTL – Metro Pacific and Piltel form Beacon to hold combined stakes of Meralco
BDO – Banco de Oro reports 2009 net profit; beats internal target and consensus

more
Daily Navigator 01 March 2010
PX – Philex to buy out minority shareholders in Philex Gold; consolidates hold of Silangan
AP – Aboitiz Power plans new power plant in Mindanao
SGI – Solid Group buys mobile phone distribution company
EDC – Energy Development acquires drill
AT – Copper prices rise... more
Daily Navigator 26 February 2010
Corporate
JGS – Robinsons Savings buys Royal Bank of Scotland local bank
Economy
Imports expand in Dec09
more
Daily Navigator 25 February 2010
Corporate
PX – Philex increases stake in Forum Energy
APC – APC Group confirms investor discussion to partner for power plant investment
Market Commentary
Senator Villar tops new poll on trust
more
Daily Navigator 24 February 2010
Corporate
MER – Meralco reports 2009 net profit
WEB – Philweb reports 2009 net profit
Economy/Sector
Thin demand for tax–free sugar import rights
Philippines closes Samurai Bond offering
more
Daily Navigator 23 February 2010
CHIB – Chinabank earnings rise strongly in 4Q09
DFNN – Singapore stock exchange deems DFNN acquisition of Fastech unacceptable
more
Daily Navigator 22 February 2010
ALI – Ayala Land partners with Anflo Group for CDO mall
MWC – Manila Water reports strong 4Q09 water sales; profit
SMPH – SM Prime new malls bring in growth in 4Q09
more
Daily Navigator 19 February 2010
ALI – Ayala Land reports higher 4Q09 profit with declining costs that offset lower sales
JFC – Jollibee reports surge in 4Q09 net profit
more
Daily Navigator 18 February 2010
Corporate
BEL/SM – Henry Sy buys additional stake in Belle
AC – Integreon receives new investor; Ayala get diluted but investment value is higher
PX – Forum Energy receives service contract from Dept. of Energy
Economy/Sector
Power sector starts feeling heat... more
Daily Navigator 17 February 2010
Corporate
MER – Commission on Audit findings show overcharging by Meralco
ATS – Aboitiz Transport buys two new vessels
Economy/Sector
Shortage in Luzon to drive power costs up
Competition in online gaming to heat up as bid for nationwide license threatens... more
Daily Navigator 16 February 2010
Corporate
T – TKC prepares for major capital raising
SMP/SMC/SMCB – San Miguel Properties to divest Bank of Commerce stake
SMDC – SMDC reports earnings for 2009
Economy
OFW remittances end 2009 higher by 5.6%
more
Daily Navigator 15 February 2010
AT – Atlas plans Berong operations restart with better nickel prices
MPI – Ports Authority defers Manila port takeover again
MER – Meralco capex plans for 2010
more
Daily Navigator 12 February 2010
Corporate
MER – Meralco optimistic over electricity sales growth in 2010
Economy/Sector
Power – Shortage looms in Luzon with simultaneous fuel and maintenance issues
Energy – Department of Energy wants more time to study geothermal contracts
more
Daily Navigator 11 February 2010
Corporate
PCOR – Petron sets price for preferred shares
MWC – Manila Water partners for India projects
Economy/Sector
Exports growth shows signs of continued recovery
Malacanang mediates, orders status quo on Pilipinas Shell non–payment of tax row
more
Daily Navigator 10 February 2010
Corporate
MPI/DMC – Maynilad blinks on supervisors union complaint
PA – Pacifica goes after other IPPA contracts
Economy/Sector
Automobile sales expand in Jan10
Tax Appeals shuts down Pilipinas Shell’s petition for protection
more
Daily Navigator 09 February 2010
Corporate
MPI/PLTL/MER – Metro Pacific and Piltel form new company to consolidate Meralco stakes
JGS – Tariff Commission to pressure JG Petrochemicals to show naptha cracker progress
PNB – Phil. National Bank reports 2009 net profit
Sector
Media – Comelec... more
Daily Navigator 08 February 2010
Corporate
PCOR – Petron provides 2009 profit expectations
MPI/MER – Metro Pacific still pursuing Meralco stake
Economy/Sector
Inflation decelerates in Jan10
Telecoms – CA denies CURE petition for TRO
more
Daily Navigator 05 February 2010
GLO – Globe Telecom reports 2009 net profit
SMC/SMCB/LIB – Liberty launches 4G broadband service
more
Daily Navigator 04 February 2010
Corporate
SMPH – SM Prime to issue REITs to fund capex
TA – Trans–Asia to go full force on wind power
MPI/DMC – Maynilad supervisors plan strike
Economy/Sector
Market Commentary – Villar closes voter ratings gap with Aquino
Consumer – NFA allowed... more
Daily Navigator 03 February 2010
SMC/SMCB/PF/PFB – San Miguel prepares sale of Purefoods with transfer of brands
IMI – IMI Electronics announces redundancy program for part of LCD business
more
Daily Navigator 02 February 2010
Corporate
PERC – PetroEnergy to build geothermal plant in Laguna
EDC – GSIS sells Energy stake to Philplans
PA – Pacifica joins growing list of Ilijan bidders
Earnings
BPI – Bank of the Philippine Islands reports 2009 net profit in line with expectations more
Daily Navigator 01 February 2010
Corporate
PCOR – Petron to offer perpetual preferred shares
MWC – Manila Water implementing Three River System clean–up
IP – IPVG to list online gaming subsidiary
Economy
Real GDP grows by 1.8% in 4Q09
more
Daily Navigator 29 January 2010
Corporate
AC/MPI – Ayala and Metro Pacific team up for Angat power bid
APC – APC Group to partner up with foreign investor in a geothermal investment
Sector
Infrastructure – One more chance for SCTEx bidding
more
Daily Navigator 28 January 2010
Corporate
MER – Meralco suspends rate hike
APC – APC Group to reduce par value as part of quasi–reorganization
Economy/Sector
BSP may reduce rediscount rates
Consumer – ASEAN appeal successful: sugar tariffs to be maintained
more
Daily Navigator 27 January 2010
Economy
Imports grow for first time in 13 months
Sector
Banking – Moody upgrades sector outlook
more
Daily Navigator 26 January 2010
Corporate
SMC/SMCB/MER – Power shortage in Luzon results in rotating brownouts in Metro Manila
Sector
Infrastructure – Bidding for Subic–Clark–Tarlac expressway fails?
more
Daily Navigator 25 January 2010
Corporate
FGEN – First Generation preparing for power investments
UBP – Unionbank reports 2009 net profit
Sector
Consumer – Sugar prices continue to reach new highs
Telecom – BellTel prepares for capital infusion
more
Daily Navigator 22 January 2010
Corporate
PCOR – Petron to issue preferred shares in Feb10
PSB – PSBank beats 2009 profit target
LIB – SEC approves Liberty increase in authorized capital
Sector
PSALM plans to tap bond market
more
Daily Navigator 04 January 2010
Corporate
PCOR – Petron to issue preferred shares in Feb10
PSB – PSBank beats 2009 profit target
LIB – SEC approves Liberty increase in authorized capital
Sector
PSALM plans to tap bond market
more
Daily Navigator 21 January 2010
Corporate
PCOR – SEA Refinery consents to common to preferred reclassification
ALI – Ayala Center redevelopment to cost P20bn
Economy
Agricultural output in 2009 was below target
more
Daily Navigator 20 January 2010
IMI – IMI Electronics to list shares tomorrow
ATI – Asian Terminals awarded Phase 2 contract
more
Daily Navigator 19 January 2010
EDC – Energy Development boasts of patent for old technology
TA – Trans–Asia plans property purchase in Batangas
more
Daily Navigator 18 January 2010
Corporate
MPI – Ports Authority stops takeover of North Harbor by Metro Pacific JV
SMC/SMCB – MWSS to award Laiban project by Mar10
WEB – Pagcor to launch Philweb powered online gaming site
Economy
OFW remittances rise in Nov09
more
Daily Navigator 15 January 2010
FPH – First Philippine Holdings considers selling more Meralco shares
AC – IMI Electronics IPO pushing through this month
more
Daily Navigator 14 January 2010
Corporate
RLC – Robinsons Land FY 4Q09 net profit declines
Sector
Power – PSALM prepares for Ilijan power contract bidding; San Miguel interested
more
Daily Navigator 13 January 2010
Corporate
SCC/DMC – Semirara to offer 1:3 stock rights
Economy
Merchandise exports recover strongly in Nov09; reiterate positive view on ICTSI
more
Daily Navigator 12 January 2010
Corporate
DFNN – Macau investor considers investing in Diversified
TA – Trans–Asia plans coal plant in Batangas
Sector
El Niño phenomenon is beginning to be felt by water utilities
more
Daily Navigator11 January 2010
Corporate
MPI/TOL – Metro Pacific starts talks to acquire stake in South Luzon Tollways
GMA7 – GMA Network IPO capex plan nearly complete
JGS – Discrimination cases threaten Cebu Pacific Franchise
Economy/Sector
DTI/DA considers sugar importation to stem rising... more
Daily Navigator 08 January 2010
SMC/SMCB – San Miguel–Top Frontier investment said to be SBL go around – we think differently
WEB – Philweb expects net profit to almost double in 2010
MRC – MRC Allied confirms Bong Tan’s entry as controlling shareholder
more
Daily Navigator 07 January 2010
Corporate
SMC/SMCB – San Miguel buys into its own shareholder; tender offer set for Mar10
Economy/Sector
Philippines to issue global bonds
Consumer – Fishing grounds closure may affect canned tuna supply
more
Daily Navigator 06 January 2010
Corporate
EDC – Energy invited to participate in bidding for Kenya geothermal drill projects
SMC/SMCB/MPI/TOL – San Miguel and Metro Pacific unit only bidders for SCTEx
PX – Philex mineral shipment in 2009 declined
Economy
Inflation spikes in Dec09
more
Daily Navigator 05 January 2010
Corporate
SMC/SMCB – San Miguel to bid for SCTEx via new joint–venture
APX/APXB – Crew Gold sells stake in Apex at a deep discount
Sector
Telecom – Per pulse billing row heats up with Smart and Globe seeking TRO
more
Daily Navigator 04 January 2010
PX – Philex boosts capital of oil and gas exploration subsidiaries
MER – Meralco to hike distribution rates in Jan10 but generation costs are lower
more
Daily Navigator 29 December 2009
FLI – Filinvest buys out its foreign partners
AT – Atlas gets new mining equipment that will enable them to boost production; some new concerns though on other developments
PX – Philex likely to miss its 2009 on weak production
more
Daily Navigator 28 December 2009
PNX – Phoenix plans share sal more
Daily Navigator 23 December 2009
ABA – Abacus submits proposal to build gas pipeline
SMC/SMCB – San Miguel issues more preferred shares; provides Cospak purchase details
more
Daily Navigator 22 December 2009
Corporate
SCC/DMC – Dept. of Energy expands Semirara coal contract coverage
SOC/LFM/LIB/SMC/SMCB – South China and Liberty Flour sell stakes in BellTel
Economy/Sector
Telecoms – Senate to toughen regulatory laws over per–pulse billing stand–off
Fiscal... more
Daily Navigator 21 December 2009
Corporate
RLC – Dutch government pension fund buys into Robinsons Land; REITs passes through Congress
SMC/SMCB – San Miguel sells international beer business to Brewery
MWC – Manila Water completes Boracay water concession agreement
Sector
Banking – Bangko... more
Daily Navigator 18 December 2009
MWC – Manila Water to raise water tariffs in Jan 2010 as approved
SMPH – SM Prime to accelerate China mall development
SGI – Solid Group to introduce thematic customized mobile phones
more
Daily Navigator 17 December 2009
Corporate
GMA7 – GMA Network optimistic over international channels; upgrade in profit forecasts
ATI – Ports regulator to award Asian Terminals with Batangas operations contract
RCI – Supreme Court rules Roxas Batangas lands are CARP covered
Sector
Property –... more
Daily Navigator 16 December 2009
Corporate
SMC/SMCB – San Miguel acquires Australian plastics packaging company
AP – Aboitiz Power secures customer for Tiwi–Makban
Economy
OFW remittances and unemployment data for Oct09
more
Daily Navigator 15 December 2009
Corporate
ICT – ICTSI secures BDO long–term loan facility
MPI/DMC – Maynilad submits lowest bid for Iloilo water supply project
Sector
Telecom – NTC issues CDO to force switch to per–pulse billing
more
Daily Navigator 14 December 2009
Corporate
GLO – Globe invests in new high–capacity submarine cable network
MWC – Manila Water pulls out of Iloilo water supply project bidding
Sector
Power – Department of Energy prequalifies 10 companies for geothermal exploration
more
Daily Navigator 11 December 2009
Corporate
PIP – Pepsi approves additional production line for CDO
MER – Meralco secures long–term financing
Economy
Exports decline in Oct09; smallest YTD contraction supports improving trade sales
more
Daily Navigator 10 December 2009
JFC – Jollibee terminates Taiwanese restaurant joint–venture and franchise
AT – Atlas warrants share contributions from Alakor to help extend credit
more
Daily Navigator 09 December 2009
Corporate
TEL – PLDT issues multi–tenor fixed rate debt note
PX – Philex board changes composition with First Pacific acquisition
Sector
Telecom – NTC looks into telcos application of per pulse billing
more
Daily Navigator 08 December 2009
Corporate
MER – Meralco cuts back slightly on billed rates as purchased power costs are reduced
PX – First Pacific completes acquisition of additional stake in Philex
Economy
T–bill rates rise slightly
more
Daily Navigator 07 December 2009
Corporate
IP – IPVG sells 70% of mobile content company
Economy
Inflation accelerates to 2.8% in Nov09
more
Daily Navigator 04 December 2009
Corporate
PX – First Pacific buys additional Philex stake from Ongpin group and DBP
ROX – Roxas partners to develop Tagaytay boutique resort
Sector
With auction of Leyte power contracts, PSALM may comply with open access requirement
more
Daily Navigator 03 December 2009
MPI/TOL – Metro Pacific interested in PNCC stake in SLEx that is available for sale
DMC/SCC – Semirara makes Calaca downpayment
more
Daily Navigator 02 December 2009
Corporate
ICT – ICTSI wins concession for a terminal in Mexico’s busiest port
AT – Atlas secures BDO refinancing for bridge loan facility through convertible loan facility
EDC – Energy Development to prepay PSALM for geothermal acquisitions
Sector
Mining –... more
Daily Navigator 01 December 2009
SMC/SMCB – Ongpin, Zobel, Campos secure 28% stake in San Miguel
PX – Philex reports positive resource estimates for Bayugo property
MER – Energy Regulatory Commission allows Meralco to charge for underrecoveries
AT – Atlas identified as possible partner for selected Mt.... more
Daily Navigator 27 November 2009
Corporate
PIP – Pepsi Philippines reports improvement in FY 1Q10 profit – Maintain SELL
Economy
GDP growth in 3Q09 is flat – reflects slower–than–expected economic recovery
Dubai World possible default may have impact on the Philippines
more
Daily Navigator 26 November 2009
Corporate
PEC/PECB – PNOC Exploration partners with BHP Billiton to develop SC59
APX/APXB – Apex reports profits in 3Q09; a reversal from 2Q09
PSE – PSE earnings decline further in 3Q09
Economy
Merchandise imports contract in Sep09
more
Daily Navigator 25 November 2009
Corporate
MEG – Transfer of Global City property to Megaworld may be delayed
EDC – Energy Development increases retail bond offer size
MER – GSIS files complaint against First Phil. Holdings
SMDC – SM Development to issue stock rights
Sector
Media –... more
Daily Navigator 24 November 2009
Corporate
SGI – Solid Group reports higher earnings; closes down plastics–injection plant
SMPH – SM Prime offers to buy 20ha South Road Property in Cebu
FPH – GSIS files complaint against First Phil. Holdings
Economy
Consumer sector – RC Cola bottler to... more
Daily Navigator 23 November 2009
DMC – DMCI 3Q09 earnings show sustained growth
AGI – Alliance Global reports slight decline in 3Q09 earnings
more
Daily Navigator 20 November 2009
Corporate
MEG – Megaworld issues retail bonds
PX – Ramon Ang offered SSS stake in Philex
KPM – Keppel keeps Cebu shipyard closed
MRAY – Macondray is the backdoor listing of Alphaland
Sector/Economy
LRT–2 extension being evaluated
more
Daily Navigator 19 November 2009
Corporate


JGS – JG Summit issues retail bonds


ROX/RCI – Roxas to start bioethanol production in 2010


Sector/Economy


High sugar environment to persist over next two years


Fiscal deficit in 10m09 breaches... more
Daily Navigator 18 November 2009
Corporate/Earnings
PNX – Phoenix agrees to sell up to 10% of shares to SSS
SMB/PF/PFB – San Miguel Brewery and Purefoods expanding in Laguna
Sector/Economy
Property – Ortigas & Co. plans four flagship projects
Treasury rejects bids on 7–year bonds
more
Daily Navigator 17 November 2009
Corporate
SM – SM Investment 3Q09 earnings growth stable
HLCM – Holcim 3Q09 earnings surges but on low base effect
Economy
OFW remittances in Sep09 remain stable
more
Daily Navigator 16 November 2009
TEL – Smart purchases mobile instant messaging service provider
JGS – JG Summit reports weaker core earnings
FLI – Filinvest Land reports flat earnings growth
MEG – Megaworld 3Q09 earnings contract
PX – Philex 3Q09 net profit decline; target price upgraded on... more
Daily Navigator 13 November 2009
MPI – Metro Pacific to buy additional stake in Skyway operator
AC/MWC – Ayala Corporation increases stake in Manila Water
PCOR – Petron reports higher 3Q09 earnings but warns of losses in 4Q09
ALI – Ayala Land reports improvement in 3Q09 earnings
PX – Philex 3Q09... more
Daily Navigator 12 November 2009
Corporate/Earnings
JFC – Jollibee reports slowdown in earnings growth in 3Q09
VLL – Vista Land reports flat recurring net profit growth in 3Q09
PX – Philex to subscribe to new shares of oil exploration subsidiary
AMC – Alaska Milk reports continued growth in 3Q09... more
Daily Navigator 11 November 2009
Corporate
MPI/FPH – Metro Pacific discloses additional defense provisions on its Meralco purchase
FGEN – First Generation reports decline in 9m09 earnings on EDC tax write–off
PCOR – Petron to postpone preferred capital issue
OV/OPM – Galoc field production... more
Daily Navigator 10 November 2009
PCOR/Economy – Department of Energy says inventory of petrol products running short
MPI/MER – GSIS threatens to take legal action on Metro Pacific and Lopez group for avoiding tender offer
MWC – Manila Water reports steady growth of 3Q09 core net profit
more
Daily Navigator 09 November 2009
MPI – Metro Pacific issuing long–term notes to partially fund Meralco acquisition
GLO – Globe reports 9m09 earnings
EDC – Energy Development to invest anew in geothermal based on renewable incentives
FLI – Filinvest Land starts retail bond offer
more
Daily Navigator 06 November 2009
Corporate
FPH/MPI – Metro Pacific secures partial Lopez stake in Meralco
SMC/SMCB – San Miguel reports earnings in 9m09
GMA7 – GMA7 reports decline in 3Q09 earnings on CBA bonus
ICT – ICTSI reports continued profit contraction in 3Q09.
Economy
Inflation... more
Daily Navigator 05 November 2009
FPH – First Philippine Holdings meeting to evaluate purchase proposals for Meralco stake
SMC/SMCB – Unknown firm proposes alternative water supply deals to Maynilad and Manila Water
more
Daily Navigator 04 November 2009
Corporate
SMC/SMCB/PCOR – San Miguel voices concerns over price freeze order
Earnings
TEL – PLDT core net profit on track to meet profit guidance
AEV/AP – Aboitiz Group reports strong rise in 3Q09 net profit
more
Daily Navigator 03 November 2009
Corporate
PX – GSIS acquiring Philex shares
MER – Sy Group offers premium price for Lopez stake in Meralco
PSE – Stock Exchange plans commodities trading with Dept. of Agriculture
Earnings/Economy
BPI – Bank of Phil. Islands reports 35% growth in 3Q09... more
Daily Navigator 27 October 2009
TEL/MPI – First Pacific negotiating with Lopez Group for Meralco stake
CMT – Seacem undertakes capital restructuring; reducing par value of shares
AC – IMI to list by way of introduction
more
Daily Navigator 26 October 2009
TEL/MPI – First Pacific negotiating with Lopez Group for Meralco stake
CMT – Seacem undertakes capital restructuring; reducing par value of shares
AC – IMI to list by way of introduction
more
Daily Navigator 23 October 2009
PCOR – Petron to issue preferred shares in early 2010
MPI – Metro Pacific increases stake in Makati Medical Center operator
MWC – Manila Water secures extension approval from DOF
PSE – Philippine Stock Exchange changes three members of benchmark index
more
Daily Navigator 22 October 2009
TEL – PLDT Group to purchase controlling interest in ABC5
PIP – Pepsi increasing capacity in Mindanao; investing in renewable energy
PCOR – Petron prepares for logistic projects; to reclassify unissued commons to preferreds
more
Daily Navigator 21 October 2009
Corporate
GLO – Globe Telecom offers rebates to typhoon affected subscribers
SMDC – SM Development reports higher 9m09 net profit
RLT – Philrealty restarts projects; heads for rehab exit
Economics
Treasury rejects high bids for 10–year bonds
more
Daily Navigator 20 October 2009
Corporate
ALI – Ayala Land to develop Subic property
MER/MPI – First Pacific to issue stock rights; finance investments in mining and infra
Economics
Fiscal deficit widens in 9m09; closes in on 2009 target
more
Daily Navigator 19 October 2009
Corporate


ALI – Ayala Mall gets shock from armed robbery attempt during weekend


MEG – Megaworld plans retail bond issuance


MPI – Metro Pacific to take up its share in Makati Med stock rights


Economics

more
Daily Navigator 16 October 2009
Corporate
AGI – Alliance Global planning large scale investments in tourism
UBP – Union Bank completes Tier–2 capital issue
Economics/Sector
OFW remittances grow by 2.8% in Aug09
more
Daily Navigator 15 October 2009
Corporate
TEL – Mediaquest close to acquiring control of Malaysian block timer in TV5
Economics/Sector
Energy – DOE looking for US$5bn in natural gas investments
NDC to change infrastructure bond issuance to reconstruction
more
Daily Navigator 14 October 2009
Corporate
OPM/OPMB/OV – Galoc consortium expected to deliver 600,000 barrels
MER/FPH – Market talk over possible sale of Lopez stake in Meralco heightens
Economics/Sector
Exports continue contraction but evidence of recovery increases
Banking – Supreme Court... more
Daily Navigator 13 October 2009
Inflationary impact of Typhoon Parma stretches to Metro Manila
Treasury Bill rates fall
more
Daily Navigator 12 October 2009
Typhoon Parma adds significantly to economic impact of Typhoon Ketsan more
Daily Navigator 09 October 2009
Corporate
DMCI/BC/BCB/SCC – DMCI Mining to return to nickel in partnership with Benguet Corp.
Property
FTI property auction fails
Economy
Vehicle sales in Sep09
more
Daily Navigator 08 October 2009
Corporate
MPI – First Pacific Group nears tender offer limit following Meralco cross
ANI – AgriNurture gets P500m in financing option
MER – Meralco estimates P1.0bn in damages from Ondoy
Economy
Forex reserves reach new high
more
Daily Navigator 07 October 2009
Corporate
MPI – Metro Pacific secures Meralco stake
Economy
Inflation rises slightly in Sep09
more
Daily Navigator 06 September 2009
Corporate
SMC/SMCB – Converted common shares crossed
MER/UBP – Meralco secures loan from UBP
Economy
Agricultural impact pegged at P6.0bn – and rising
more
Daily Navigator 05 October 2009
Corporate
SMC/SMCB – PCGG converts San Miguel common shares to preferred
SMPH – SM Prime paying back maturing USD syndicated loan
BDO – Banco de Oro close to buying Export Industry
Sector
Property – FTI auction scheduled this week
Utilities – Water... more
Daily Navigator 02 October 2009
SMC/SMCB – San Miguel clarifies interest in Pilipinas Shell
DMC – DMCI sells port to Australian partner
FEU – Far Eastern leases property from Ayala to build school
more
Daily Navigator 01 October 2009
Corporate
ALI – Ayala Land details first project into low–cost housing
ION – Ionics signs agreement with Norwegian firm to produce biometric security products
Market Commentary
Business impact of Typhoon Ondoy – final comments
more
Daily Navigator 30 September 2009
Corporate
SM Group divesting out of gaming business
Market Commentary
Business impact of Typhoon Ondoy
more
Daily Navigator 29 September 2009
Market Commentary
Business impact of Typhoon Ondoy
more
Daily Navigator 25 September 2009
JGS – JG Summit files registration for bond offerin more
Daily Navigator 24 September 2009
UBP – Details on Tier 2 note offering
SMPH – SM prime target higher net profit growth target in 2009
MPI – Metro Pacific interested in acquiring Bacolod hospital
more
Daily Navigator 23 September 2009
MWC – Manila Water proposal for Cebu bulk water project accepted
MPI – Metro Pacific share offering at P3.00/sh
MEG – Megaworld to issue new bonds for property investment
PA – Pacifica to join IPP bidding
Sector
Telecom – Singapore Telemedia may enter local... more
Daily Navigator 22 September 2009
AP – Aboitiz Power to issue corporate notes to finance acquisitions
SM – SM Group may invest in stake in MNTC
MBT/EDC – Metrobank and Energy Development plan separate debt issue and borrowings
Economy/Sector
Energy – Chevron planning natgas power plant in... more
Daily Navigator 18 September 2009
SMC/SMCB – Supreme Court ruling paves the way for conversion of common to preferred
Economy/Sector
Treasury raises P100bn from retail bond issuance
more
Daily Navigator 17 September 2009
MPI/TOL – Metro Pacific bids for Subic–Clark–Tarlac concession
MEG – Megaworld awarded North Bonifacio, plans P15.6bn capex over 20 years
SM – SM Investments issues US$500m fixed–rate bonds
Economy/Sector
Power – DOE asks for contingency budget to... more
Daily Navigator 16 September 2009
TEL/MPI – Yuchengco confirms intimidation and forced sale of PTIC/PLDT shares
DMCI/MPI – MWSS grants Maynilad term extension application
PERC – PetroEnergy investing in wind farms
Economy
OFW remittances surge in Jul09
more
Daily Navigator 15 September 2009
TEL/PLDT – Senator Lacson implicates 1998 PLDT acquisition in backroom deals of former President Estrada more
Daily Navigator 14 September 2009
SMC/SMCB – San Miguel reports progress in common–to–preferred swap
FPH – First Holdings to invest US$20m for solar panel JV
Sector/Economy
Consumer – DOF pushes for sin tax changes but not text tax
Money supply growth in Jul09


more
Daily Navigator 11 September 2009
DMCI/AGP – Atlantic Gulf awarded LNG module subcontract in Australia
Sector/Economy
Telcos oppose proposed text tax progressing in Congress
Exports declined anew in Jul09 – but worst appears to be over
more
Daily Navigator 10 September 2009
SMDC/SM – SM Development and SM Investments plans new cash raising activities
TA – Trans–Asia goes for hydro power
Vehicle sales continue decline in Aug09
more
Daily Navigator 09 September 2009
MPI – Metro Pacific goes on roadshow for stock offering
TA – Trans–Asia pushes wind power plans
Economy
Treasury rates rise across the board
GIR at record high in Aug09

more
Daily Navigator 08 September 2009
SMC/SMCB – San Miguel interested in Sucat
ATS/AEV – Aboitiz Superferry sinks, Marina grounds fleet
JGS – JG Summit to issue retails bonds
PCOR – Petron plans upgrade at Bataan refinery
more
Daily Navigator 04 September 2009
SMC/SMCB – San Miguel Energy to list within 3 years
Government pushes through with RTB offerin more
Daily Navigator 03 September 2009
SMC/SMCB – San Miguel loses interest in Laiban
EDC – Energy Development submits highest bid for Palinpinon–Tongonan
more
Daily Navigator 02 September 2009
SMC/SMCB/AP – San Miguel reports 1H09 earnings
MEG – Megaworld matches Robinsons bid for Taguig property
more
Daily Navigator 01 September 2009
ALI – Ayala Land partners with NHA to develop North Triangle property


SMC/SMCB/AP – San Miguel secures Sual while Aboitiz Power gains Pagbilao


BDO – Banco de Oro eyeing Export Industry Bank


BPI – Bank of the Philippine Island gives... more
Daily Navigator 28 August 2009
SMC/SMCB – San Miguel invests in Tarlac tollway project
MER – Meralco observes improving electricity sales
ISM – ISM to bid for European IT company
GDP accelerates from low in 1Q09
more
Daily Navigator 27 August 2009
SMC/SMCB – San Miguel succeeds in Limay power plant bid
BPI – Philamlife acquires controlling stake in Ayala Life from BPI
HLCM – Holcim decides to restart suspended Misamis production line
FLI – Filinvest Land plans issue of retail bonds in 4Q09
more
Daily Navigator 26 August 2009
AP/AEV – Aboitiz Power plans to sell Tiwi–Makban electricity to Cebu
Import decline in Jun09 but shows signs of slowing down
more
Daily Navigator 25 August 2009
BPC – Benpres repurchases debt from Avenue Capital
MEG – Megaworld says it will match Robinsons’ bid for North Bonifacio lots
Treasury bill rates rise
GDP growth figures to be released this week
more
Daily Navigator 24 August 2009
FPH/BPC – First Philippine Holdings buys Rockwell stake from Benpres; Benpres restructuring reportedly may be near
SMC/DMC/TOL – DBP/Landbank to lead financiers for Tarlac expressway
MPI – Metro Pacific–Harbour Central submits winning bid for North Harbor
more
Daily Navigator 20 August 2009
PSE – Phil. Stock Exchange plans gold trading in 2009
BPC – Benpres reports reversal of losses in 2Q08
Fiscal deficit rises in Jul09
more
Daily Navigator 19 August 2009
AC/ETEL – E–Telecare to be merged with Stream Global
PCOR – Petron adds to 2009 capex for logistics investments
BRN/PX – Senate may investigate Monte Oro coal contract
PX – First Pacific comments on buying SSS stake in Philex
OFW remittances continue to... more
Daily Navigator 18 August 2009
MPI/TOL – MNTC to pursue two roads to link North Luzon Expressway to Metro Manila
SECB – Security Bank reports higher net profit in 1H09
BRN/PX – Church voices opposition to Monte Oro coal project
OFW remittances continue to increase; Retail prices continue to signal... more
Daily Navigator 17 August 2009
MEG – Megaworld reports better 1H09 net profit
FLI – Filinvest Land reports higher net profit in 1H09
AC – Ayala Corp. reports lower net profit in 1H09
RLC – Robinsons Land submits higher than Megaworld bid for BCDA propert more
Daily Navigator 14 August 2009

SM – SM reports higher net profit in 1H09

GMA7 – GMA Network reports higher net profit in 1H09

JFC – Jollibee reports higher net profit in 1H09

VLL – Vista Land reports lower net profit in 1H09
more
Daily Navigator 13 August 2009
AEV/AP/ATS/UBP – Aboitiz Group reports better 2Q09 earnings performance

ABS – ABS–CBN reports improvement in 2Q09 earnings
more
Daily Navigator 12 August 2009
PX – Philex reports lower 1H09 net profit – Maintain Sell

SMC/SMCB/LIB – QTel behind Liberty cross of 426m shares

MWC – Manila Water seeking financing for new projects

Exports continued decline in Jun09

more
Daily Navigator 11 August 2009
PCOR/SMC/SMCB – Ashmore may offer government’s old stake back to them
MPI – Metro Pacific scores higher net profit in 1H09
MER – Meralco petitions rate hike with ERC
more
Daily Navigator 10 August 2009
SMC/SMCB – San Miguel plans to bid for remaining Meralco stake of Lopez Group
ALI – Ayala Land reports decline in 1H09 net profit – Upgrade to No Action on recovery
ICT – ICTSI reports continued decline in 1H09 earnings
SMPH – SM Prime reports higher 1H09 net profit
more
Daily Navigator 07 August 2009
PX/SMC – San Miguel President offered SSS stake in Philex
SMDC – SM Development reports higher 1H09 net profi more
Daily Navigator 06 August 2009
SMC – San Miguel preparing to sell minority stakes in Ginebra and Purefoods
TEL – PLDT reports better–than–expected 1H09 profit but outlook becomes cautious
GLO – Globe reports higher 1H09 net profit but core net profit growth deteriorates
more
Daily Navigator 04 August 2009
MER – Meralco reports strong growth in 2Q09 net profit on PBR rate hike
HLCM – Holcim reports strong growth in 2Q09 net profit on higher cement demand
MPI – Metro Pacific borrows P4.5bn in bridge financing
AP – Aboitiz Power buys two power barges on its wish list
more
Daily Navigator 3 August 2009
TEL – ProtoStar goes bankrupt, PLDT named biggest unsecured creditor
BPI – Bank of Phil. Islands reports sustained profit growth for 1H09
BSC – Basic Energy deepens study of bioethanol investment
PX – First Pacific confirms Manila Mining also an investment interest
more
Daily Navigator 30 July 2009
SMC/SMCB/PF/PFB – Purefoods stake for sale in 2009; Vietnam wastewater spill
DMC – DMCI says San Miguel still interested in Calaca; will double net profit in 2009
UBP – Union Bank Tier 2 capital issue receives BSP approval
more
Daily Navigator 29 July 2009
BDO – Banco de Oro reports 1H09 earnings results
MER – Meralco achieves new historical highs
more
Daily Navigator 28 July 2009
TEL – Moody’s upgrades PLDT credit rating
SECB/RLC – Security Bank and Robinsons tie up for Makati property project
Treasury bills rates fall sharply
more
Daily Navigator 27 July 2009
SMC/SMCB – Government may take up common–to–preferred swap
UBP – Union Bank reports improvement in 1H09 earnings; to sell Tier 2 capital notes
Telecom – interconnection charges may be cut after SONA
President Arroyo to deliver last SONA
more
Daily Navigator 24 July 2009
SMC/SMCB – San Miguel partners with Toyota and Orix for Laiban
Second stimulus package considered for 2010
Imports decline in May09 but contraction decelerating
Moody’s upgrades RP rating to Ba3
more
Daily Navigator 23 July 2009
PX – Philex reacquires 49% stake in Philex Petroleum from Anatolian
JGS – Cebu plans to buy more planes as passenger traffic rises
BSP to continue RR reduction over medium–term
more
PX – Philex reacquires 49% stake in Philex Petroleum from Anatolian
JGS – Cebu plans to buy more planes as passenger traffic rises
BSP to continue RR reduction over medium–term
more
Daily Navigator 22 July 2009
PX – SSS does not plan on selling its Philex shares in 2009
LC/LCB – Lepanto confirms due diligence by First Pacific
MWC – Manila Water buys Laguna water utility
SECB – Security Bank stock rights offering
more
Daily Navigator 21 July 2009
MPI – Metro Pacific announces capital plans and Meralco acquisition price
SMC/SMCB – San Miguel announces plan to secure stake in Northern expressway project
Fiscal deficit for 1H09 below target
more
Daily Navigator 20 July 2009
SMC – San Miguel interested in Dole Philippine assets

DMC – DMCI to finance 50% of Calaca winning bid with debt

more
Daily Navigator 17 July 2009
SMC/SMCB – MWSS is ready to negotiate with San Miguel as lone bidder for Laiban
SMC/SMCB – San Miguel has MOU to acquire Extelcom from Ashmore
GSMI – Ginebra San Miguel reports higher 1H09 net profit
more
Daily Navigator 16 July 2009
OFW remittances rise to record high in May09
SMP – San Miguel Properties subscribes to Bank of Commerce share issue
more
Daily Navigator 15 July 2009
MPI/SM – Philippine Railways partners with Metro Pacific and SM Group for development
AT – Atlas signs amendments to loan with Spinnaker
National Government raises US$750m in global bonds
SMB – San Miguel Brewery reports flattish profit growth in 2Q09
more
Daily Navigator 14 July 2009
SMC/SMCB – San Miguel may seek Japan bank financing
LIB – Liberty to boost capital with new preferred shares issue
APO/AT – Anglo Philippines lends to Atlas Mining
BSP approves ROP global bond offer; RTBs issuance shelved; interest rates decline
more
Daily Navigator 13 July 2009
MER – Meralco may set up power aggregator unit
HLCM – Holcim expects to maintain strong earnings growth for 2Q09
WEB – Philweb reports 52.1% rise in 1H09 net profit
more
Daily Navigator 10 July 2009
MER – Meralco confirms higher net profit for 2009 but not P15.0bn guidance
SGI – Solid Group gives 2009 capex budget
BSP cuts policy interest rates to historical low
more
Daily Navigator 09 July 2009
SMC – San Miguel buys 32.7% stake in Liberty Telecom
MER – Meralco director gives forecast of P15.0bn net profit for 2009
DMC – DMCI wins Calaca power bid
PSE – SEC fines the Phil. Stock Exchange for non–compliance to SRC
RLC – Robinsons Land increase retail... more
Daily Navigator 08 July 2009
SMC – San Miguel Retirement Fund invests in PSE
PX – Jun09 Production Report
Consumer – Domestic dairy industry group opposes milk tariff removal
Telecoms – BPO industry group preparing standard test for BPO workforce
more
Daily Navigator 07 July 2009
SMC – San Miguel Retirement Fund invests in PSE
PX – Jun09 Production Report
Consumer – Domestic dairy industry group opposes milk tariff removal
Telecoms – BPO industry group preparing standard test for BPO workforce
more
Daily Navigator 06 July 2009
SMC – PCIJ report questions speed and secrecy over MWSS handling of Swiss–Challenge to San Miguel’s Laiban Dam proposal
Telecom – Memorandum for pulse–billing implementation to be issued
more
Daily Navigator 03 July 2009
MPI – Metro Pacific proposes issuance of voting preferred shares
Telecoms – NTC moves to extend prepaid load life by three times
more
Daily Navigator 02 July 2009
MPI/SMC/SMCB – Metro Pacific and San Miguel admit interest in BCDA stake in SCTEX
DMC – DMCI Mining suspends nickel operations in Zambales
OV – Philodrill says Galoc production snags with difficulty in reconnecting lines
more
Daily Navigator 01 July 2009
MER/TEL – PLDT/Meralco begin testing of broadband–over–power lines technology
MPI – Metro Pacific to go on marketing trip to raise awareness over proposed offering
Treasury rates rose slightly on fiscal deficit concerns
more
Daily Navigator 30 June 2009
MER/AP – Meralco power supply outlook
FGEN – First Generation looks to hydro and gas power projects
Property/Telecoms – Indian conglomerate to set up call center in the Philippines
more
Daily Navigator 29 June 2009
ICT – ICTSI open Brazil port expansion
UBP – Union Bank reports net profit for 5m09
SINO – Sinophil to diversify into water and power utilities
JFC – Jollibee to continue international expansion
Telecom/Media – New entrant into cable/DTH industry
more
Daily Navigator 26 June 2009
PX – First Pacific to use Philex for possible new mining investments
MPI – Metro Pacific defers acquisition of Meralco stake from PLDT fund
GMA7 – confident in meeting 2009 targets
Manufacturing production continues decline
more
Daily Navigator 25 June 2009
TEL – Smart offers SmartTalk unlimited service
PX – Philex reports oil exploration tests in Vietnam are positive
APX – Apex plans full capacity next year
more
Daily Navigator 24 June 2009
SMC/SMCB – OSG seeks SC approval to sell San Miguel stake
OV – Philodrill says Galoc oil field production is long–term
PCOR – Petron plans preferred share issue
Fiscal deficit rises in 5m09
more
Daily Navigator 23 June 2009
ALI – Ayala Land shares optimism over overseas investment outlook
ABS – ABS–CBN says TFC subscriber attrition rising but sales countering weakness
DOH reports first A(H1N1) flu related death
more
Daily Navigator 22 June 2009
TEL/PLTL – Smart Communications makes tender offer for Piltel minority shares
EDC – Energy Development plans fixed and retail bond offering
MPI – Metro Pacific sells Landco stake to Xeres–Burgos group
Republic of the Philippine secures Japan guarantee for planned... more
Daily Navigator 19 June 2009
ABS – ABS–CBN reports May09 net profit
IP – IPVG sells data unit in Singapore
SMC/SMCB – San Miguel sets record date for Exchange Offer of Series 1 Preferred
Cement – Trade committee recommends extending zero–tariff policy
more
Daily Navigator 18 June 2009
TEL – Asia America Gateway submarine cable network to be operational in 3Q09
JGS – Cebu Pacific orders five new planes
Telecoms – NTC summons telcos and content providers on vanishing load issue
BSP reports BOP deficit in May09
more
Daily Navigator 17 June 2009
PIP – The Government of Singapore reduces its stake in Pepsi
MWC – MWSS approves a lower FCDA for Manila Water for 3Q09
Local cases of the A(H1N1) rise sharply over past 48 hours
Unemployment rate improves to 7.5% in Apr09
more
Daily Navigator 16 June 2009
TUNA – Alliance Tuna confident that new cannery for salmon will open in 2Q09
SM – SM Investments choose to increase retail bond offering size
OFW remittances steady in Apr09
Consumer loans rise in 1Q09
more
Daily Navigator 15 June 2009
MPI – Metro Pacific reportedly seeking investment in Harbour Centre
SCC/DMC – University science department detects high levels of mercury in Semirara
BPC – Benpres expects debt restructuring to be finished by end–2009
SPH – Splash declares cash dividend
GMA7... more
Daily Navigator 11 June 2009
MER – ERC approves provisionally Meralco application for supply contract
Petrol companies to hike pump prices again
more
Daily Navigator 10 June 2009
GLO – Globe Telecom plans retail bond listing in PDEX
ELI – Empire East allocates P10bn budget to build mass transit located residences
Merchandise exports fall again in Ap09
more
Daily Navigator 09 June 2009
SMC/SMCB/SMP – San Miguel Group assumes control of Bank of Commerce
SM – SM Investments sets pricing for retail bonds
Vehicle sales continue to slump in May09
FTI sale in Jul09 approved; PNOC–EC sale on track
more
Daily Navigator 08 June 2009
SMC/SMCB/SMP – SMC to list preferred shares; SMC properties may bid for FTI
ABS – ABS–CBN reports strong May09 airtime sales
PX – Philex reports Jun09 shipment of concentrates
more
Daily Navigator 05 June 2009
SMC/SMCB/MPI – San Miguel claims offer from First Pacific to exchange tollways and utility assets for Meralco stake; Metro Pacific denies offer
more
Daily Navigator 04 June 2009
TEL – PLDT launches “Call All”, Digitel questions new service
IP – IPVG signs contract for BPO services with Vietnam finance company
GIR levels in May09
more
Daily Navigator 03 June 2009
ECD – Energy Development completes property sale to PNOC
House of Representatives approves Constitutional Assembly resolution
more
Daily Navigator 02 June 2009
SM – SM Investments introduces retail bonds
SMC/SMCB – Q–Tech alliance increases capital from shareholders
PCOR – Petron enters thrift banking through subsidiary
Bureau of Treasury rejects high bids on Treasury auction
more
Daily Navigator 01 June 2009
BDO – Banco de Oro provides net profit guidance for 2009; additional info on GE Money Bank purchase
WEB – Philweb provides net profit guidance for 2009
PCOR – Petron increases the size of Fixed–Rate debt issue
more
Daily Navigator 29 May 2009
Real GDP growth screeches to 0.4% in 1Q09
BSP cuts policy rates by 25bps
BDO – BDO executes purchase agreement for GE Money Bank
more
Daily Navigator 28 May 2009
TEL – PLDT becomes part of new regional submarine cable consortium
ABS – ABS–CBN reports better ad revenues and ratings for Mar–Apr period
New cases of A(H1N1) virus in the Philippines
more
Daily Navigator 27 May 2009
MER – Meralco AGM results – uneventful
Long–term yields decline
more
Daily Navigator 25 May 2009
SMC – SMC completes sale of SMB stake to Kirin; Kirin sells SMC stake to Q–Tech
MER – Meralco AGM looms; power structure more defined
ICT – ICTSI secures Brunei port contract
ATS – Aboitiz Transport shifts business strategy
more
Daily Navigator 22 May 2009
SMC – San Miguel approves common–preferred share swap; investment in Liberty Telecom
HLCM – Holcim reports 1Q09 net profit; declares P0.20/sh dividend (positive)
DOH confirms first swine flu case in the Philippines
more
Daily Navigator 21 May 2009
ICT – ICTSI secures refinancing for nearby debts that are maturing
AEV – Aboitiz Equity confirms budget for capex
EEI – EEI Corp. reports 1Q09 net profit
DOE plans for possible regional power shortage/Typhoons have impact on palay prod
more
Daily Navigator 20 May 2009
MEG – Megaworld reports 1Q09 net profit (neutral)
PNX – Phoenix reports 1Q09 net profit (neutral)
more
Daily Navigator 19 May 2009
FLI – Filinvest Land inc reports 1Q09 net profit (neutral)
RLC – Robinsons Land issues fixed–rate bonds
NG reports fiscal surplus in Apr09
BOP surplus in Mar09
more
Daily Navigator 18 May 2009
ICT – International Container Terminal reports 1Q09 net profit (negative)
RLC – Robinsons Land reports 1Q09 net profit (positive)
TUNA – Alliance Tuna reports 1Q09 net profit (neutral)
NRCP – PhilNaRe reports 1Q09 net profit (negative)
MBT – Metrobank reports 1Q09... more
Daily Navigator 15 May 2009
AC – Ayala Corp. reports 1Q09 net profit (negative)
JFC – Jollibee reports 1Q09 net profit (neutral)
VLL – Vista Land reports 1Q09 net profit (neutral)
MER – Meralco reports 1Q09 net profit (neutral)
more
Daily Navigator 14 May 2009
SM – SM Investments reports 1Q09 net profit (positive)
SMC/SMCB – San Miguel Group bares some details on planned asset sales
ALI – Ayala Land to issue Homestarter bonds
RLC – Robinsons to build mixed–use project on Magnolia property
MER – As Meralco... more
Daily Navigator 13 May 2009
PCOR– Petron reports 1Q09 net profit (positive)
MPI – Metro Pacific reports 1Q09 net profit (positive)
AMC – Alaska Milk reports 1Q09 net profit (positive)
PNB – Philippine National bank reports 1Q09 net profit (positive)
SMC/SMCB – San Miguel considering tollway... more
Daily Navigator 12 May 2009
SMC/SMCB – San Miguel Group reports 1Q09 net profit (positive)
ALI – Banco de Oro reports 1Q09 net profit (negative)
more
Daily Navigator 11 May 2009
AEV – Aboitiz Equity Ventures reports 1Q09 net profit (negative)
BDO – Banco de Oro reports 1Q09 net profit (negative)
SMC/SMCB – San Miguel to implement stock–swap plan in Jun09
Supreme Court says oil depot should be relocated
more
Daily Navigator 08 May 2009
AP – Aboitiz power reports 1Q09 net profit (negative)
SMC/SMCB – San Miguel selects Calaca over Limay power opportunity
Supreme Court says oil depot should be relocated
more
Daily Navigator 07 May 2009
GLO – Globe Telecom reports 1Q09 net profit
RCB – RCBC reports 1Q09 net profit
EDC – Energy Development confirms expanded plans for Burgos wind power project
more
Daily Navigator 06 May 2009
TEL – PLDT reports 1Q09 net profit
SMPH – SM Prime reports 1Q09 net profit
Inflation at 4.8% in Apr09
more
Daily Navigator 05 May 2009
AGI – Alliance Global reports 2008 earnings (neutral)
COAT – Chemrez reports 1Q09 net profit (positive)
more
Daily Navigator 04 May 2009
SMC/SMCB/SMB – San Miguel eyes Adaro Energy stake; sells first tranche of SMB shares to Kirin
BPI – Bank of the Philippine Islands reports 1Q09 net profit; neutral
VLL – Vista Land extends share buy–back program
more
Daily Navigator 30 April 2009
SM – SM Investments 2009 Capex
IP – IPVG secures new investor for expansion
FLI – Filinvest Land 2009 Capex
PSB – PSBank reports 1Q09 net profit
Banking – Increase in deposit insurance becomes law
more
Daily Navigator 29 April 2009
SMPH – SM Prime to continue China expansion
MWC – Manila Water confirms overseas projects
MER – Meralco approves additional shares for ESOP
Swine flu – wait and see if epidemic intensifies further
more
Daily Navigator 28 April 2009
SMDC – SM Development provides indicative earnings for 1Q09 and 2009 plans
MEG/Property – BCDA to sell Bonifacio properties; Megaworld bidding for one and is awaiting challengers to its bid.
UBP– Union Bank to raise Tier–2 capital
BDO – Banco de Oro reclassifies... more
Daily Navigator 27 April 2009
SM – Philratings gives SM Investments highest rating

MPI – Metro Pacific eyes Manila–Clark railway project

TUNA – Tuna canning industry asks for delay in EU ruling requiring certification

Imports contract in Feb09
more
Daily Navigator 24 April 2009
MER – Meralco finally receives ERC approval for distribution rate hike
SMB – Kirin reports on tender offer results
MBT – Metrobank closes books on Tier–2 capital issue on strong demand
more
Daily Navigator 23 April 2009
MA/MAB – Manila Mining plans Placer gold mine revival

Fiscal deficit for 1Q09 exceeds target on lower revenues

Resolution calling for Constitutional assembly filed
more
Daily Navigator 22 April 2009
MWC – Manila Water secures Boracay projects
PX – Philex special meeting yields approval of stock dividends and increase in authorized capital
WEB – Philweb says 1Q09 net profit doubled
more
Daily Navigator 21 April 2009
SMC – San Miguel plans preferred swap back with common shareholders
MBT – Metrobank issues Tier–2 Capital notes anew
LC – Lepanto says Zijin may abandon plan to invest in gold mine
Treasury rates decline after BSP cuts policy rates
more
Daily Navigator 20 April 2009
MWC – Manila Water receives extension approval from MWSS
MEG – Megaworld announces details on stock rights offering
Banking – BSP wants to impose higher CAR for high risk banks
more
Daily Navigator 17 April 2009
Changes to PSE Index composition
ICT – ICTSI prepays portion of USD debt maturing in 2010
BSP cuts policy rates by 25bps
more
Daily Navigator 16 April 2009
ALI – Ayala Land signs financing facility agreement with Land Bank
ICT/MBT – ICTSI signs financing facility agreement with Metrobank
COAT– Chemrez reports decline in net profit for 2008
OFW remittance and Exports data for Feb09
more
Daily Navigator 15 April 2009
AP – Aboitiz launches P1.5bn in retail bonds
MEG – Megaworld launches new phase at Manhattan Garden City

ABS – ABS–CBN reports 9.2% growth in 2008 net profi more
Daily Navigator 14 April 2009
RCB – RCBC to issue Tier–2 capital debt
TUNA – Alliance Tuna reports 2008 net profit
Mining – Government to bid out Diwalwal development rights
more
Daily Navigator 13 April 2009
AC/EDC – Ayala Corp. said to be interested in investing in Energy Development
SMB – SMB reports 8.2% y/y growth in 1Q09 net profit
more
Daily Navigator 08 April 2009
MER – Meralco hikes power rates given increase in purchased generation cost
EDC – Energy Development Corp. reports small capex in 1Q09; outperformance cited
Treasury Bill rates decline
GIR report for Mar09
more
Daily Navigator 07 April 2009
SMC/SMCB – San Miguel may still push through with packaging listing
MPI – Metro Pacific plans further investments in Citra/Skyway
SM – SM Investments issues P10bn in bonds
TA – Pursuing renewable energy projects
M3 growth decelerates in Feb09/Inflation also... more
Daily Navigator 03 April 2009
GMA7 – GMA Network reports stable 2008 earnings; grabs market share
FLI – Filinvest Land reports rise in 2008 recurring net profit
SMC/SMCB – Coconut farmers group questions San Miguel strategy
more
Daily Navigator 02 April 2009
SMC – San Miguel buys out partners in two packaging subsidiaries
AEV – First phase of purchase of Aboitiz Transport by KGLI–NM
ALI – Ayala Land comments on expectations for 2009
Summary of selected early disclosures – SGI, PSB, CRC, and V.
more
Daily Navigator 01 April 2009
SGI – Solid restructures to focus consumer businesses
FGEN/EDC – First Generation and Energy Development report 2008 earnings
Banking – BSP moves deadline on FCDU rules
more
Daily Navigator 31 March 2009
MWC – Manila Water seeks extension of concession and Laiban Dam
DMC – DMCI gets new orders for construction
Fiscal deficit doubles on higher government spending
more
Daily Navigator 30 March 2009
URC – Universal Robina issues fixed–rate notes
ROX – Roxas transfers key management to reorganized Roxas Group
SCC – Semirara meets 2008 net profit expectations
Telecom – BPO organization seeks new legislation to boost competitivenes more
Daily Navigator 27 March 2009
SMC/SMCB – Comments on the 2008 earnings report
Sector – PSALM selling two IPP projects
more
Daily Navigator 26 March 2009
ICT – ICTSI plans slightly lower capex, CLCI comments on recent share price performance

GSM – Ginebra San Miguel denied motion on intellectual property case against Tanduay

Telecom – President Arroyo is open to proposed SMS tax
more
Daily Navigator 25 March 2009
Political Economy – Villar says Lower House only needs 20 more votes before Charter Change leaves Congress

Imports decline but speed of fall is decelerating

PCOR – Petron sees profits in 2009 as opposed to losses in 2008
more
Daily Navigator 24 March 2009
US Treasury to pursue banks’ bad asset purchase by government
Treasury rates change slightly
RCB – RCBC net profit at P2.2bn for 2008
more
Daily Navigator 23 March 2009
SMPH – SM Prime plans to build its usual number of malls in 2009
TEL – PLDT gets another downgrade in peso debt ratings outlook
Deflation in building and construction materials prices continues
more
Daily Navigator 20 March 2009
MER – List of nominees to the Meralco board for the May08 elections
DMC – DMCI power company will build lower–than–planned capacity power plant in Panay
more
Daily Navigator 18 March 2009
TEL – Some comments from PLDT on its Meralco investment
GLO – Globe expands bandwidth with new submarine cable investment
MWC – Manila Water asks for concession extension of 15 years
BRN – Brown borrows for Monte Oro investment
Unemployment rises to 7.7% in Jan09 more
Daily Navigator 17 March 2009
TEL – Moody’s reviewing PLDT credit ratings with some concern over Meralco investment
SMB – San Miguel Brewery successfully issues historical corporate bond
BPC – Benpres reduces debt levels in 2008
PSE – Stock exchange reports decline in net profit for 2008 more
Daily Navigator 19 March 2009
FPH/MER/BPC – Friction inside Lopez camp develops on back of Meralco sale
SMC – San Miguel plans to keep 27% stake in Meralco
RCB – UK fund sells RCBC shares to the bank
Federal Reserve announces gargantuan liquidity boost strategy
more
Daily Navigator 16 March 2009
PLDT secures 30.1% stake in Meralco and plans major restructuring of the business
Lopez Group beefs up balance sheet with sale plus other benefits
San Miguel Corp. (SMC) waits confidently at the sidelines
BPC – Bayantel opposed to sale of controlling stake in Extelcom
more
Daily Navigator 13 March 2009
SMB – San Miguel Brewery corporate bond auction to push through next week
TUNA – Alliance Tuna elects new chairman; increases stake in Indonesia investment
KPM – Keppel Cebu shipyard faces less workhours and labor protest
Private sector identifies NLEX extension for stimulus... more
Daily Navigator 04 March 2009
TEL – PLDT releases better than expected earnings and satisfies market expectations on dividends
MER – First Pacific is behind recent Meralco share price run–up
Banking – AIG decides against selling Philamlife
more
Daily Navigator 03 March 2009
AC – Ayala Corporation shakes up top management at ALI, GLO, and MWC
MER – First Pacific is behind recent Meralco share price run–up
ETEL – eTelecare buys South African call center company
more
Daily Navigator 02 March 2009
SMC/SMCB/SMB – San Miguel Brewery bond offer to start this week; NEDA offers SMC access to stimulus package
PCOR – Petron earnings report for 2008; diversifying into power with increase in capital
more
Daily Navigator 27 February 2009
ATI – Asian Terminal justifies rate hike petition with planned capex
Transport – Northrail work resumes after five–year dela more
Daily Navigator 23 February 2009
SMC/SMCB/SMB – San Miguel Corp. announces Kirin sale of SMC stake in favor of purchase of an investment in San Miguel Brewery
more
Daily Navigator 24 February 2009
SMC/SMCB/SMB – Company withdraws offer to buy SMC shares from Cocofed/PCGG
FPH – First Holdings continues redemption of FRNs
PSE joins forces with other ASEAN exchanges for electronic link–up
more
Daily Navigator 20 February 2009
SMC/SMCB/SMB – Kirin clarifies reports that sales agreement for stake in SMB has been reached
PLDT issues P5.0bn in debt notes
more
Daily Navigator 19 February 2009
PIP – Updates on Pepsi earnings report
SMC/SMCB – San Miguel briefs PGMA on diversification plans
more
Daily Navigator 18 February 2009
PIP – Pepsi reports decline in 2Q FY09 net profit
GLO – Globe pension fund invests in small broadcasting company
ATI/ICT – Major port operators petition for increase in cargo handling rates
AP – AP Renewables to drill anew in Tiwi–Makban to extract more steam
more
Daily Navigator 16 February 2009
JFC – Jollibee reports better than expected net profit for 2008
URC/RLC/SECB – Universal Robina and Robinsons Land report their 1QFY09 earnings results while Security Bank reports its 2009 net profit
MPI – Metro Pacific affiliate secures long–term contract for Cardinal... more
Daily Navigator 13 February 2009
AT – Berong mine of Atlas cuts back on production as demand for nickel and iron ore fall
MPI – Metro Pacific pushes two infrastructure projects to connect NLEX
more
Daily Navigator 12 February 2009
MEG – Megaworld issues notes and plans to offer stock rights with free warrants
PX – Philex hiking authorized capital; declares stock dividends
DGTL – Digitel’s SunCellular ends 2008 with 8.2m mobile subscribers
more
Daily Navigator 11 February 2009
ALI – Ayala Land net profit for 2008 better than expected but challenges remain – Maintain Sell
more
Daily Navigator 10 February 2009
SMC – San Miguel submits proposal to build bulkwater project
Exports tumble by 40% in 2009
more
Daily Navigator 09 February 2009
SMC – San Miguel Corp. seeks government support in biofuels foray
PX – Philex completes Boyongan acquisition
AC – Integreon invests in ONSITE3; prepares acquisition
more
Daily Navigator 06 February 2009
SMB – Philratings gives San Miguel Brewery bonds highest ratings
Utilities – Manila Water and Maynilad allowed to raise rates for inflation and forex
CAMPI proposes tax breaks to support industry
more
Daily Navigator 05 February 2009
AC – Integreon to establish UK legal shared–services center
Inflation continues deceleration in Jan09
more
Daily Navigator 4 February 2009
GLO – Globe reports below expected net profit
Liberty Telecoms hires former Smart mobile head
more
Daily Navigator 03 February 2009
BDO/SM – Banco de Oro plans P13bn capital raising issues
RLC – US fund buys enough RLC shares to report 5% stake in company
Economy
NEDA expects deficit to run up to P160bn
BPI – Bank of Phil. Islands reports below expectations net profit for 2008
more
Daily Navigator 02 February 2009
BPI – BPI partners with Prudential of UK for Philam bid
TEL – PLDT to borrow P3.0bn from domestic market
CRC – First Phil. Infra partners with PNR to explore integrated tollway and railway project
DMC – DMCI secures bridge loan to help settle AG&P debt
SMB/SMC/SMCB... more
Daily Navigator 29 January 2009
TEL – PLDT believes that 2008 earnings targets were met
ALI – Ayala Land issues long–term notes
more
Daily Navigator 30 January 2009
SMB/SMC/SMCB – San Miguel Brewery to issue debt to fund asset purchase

TEL – PLDT Group discussing possible purchase of Philippine Star

BSP cuts policy rates by 50bps

Economy grows 4.6% in 2008

more
Daily Navigator 28 January 2009
SMC/SMCB/SMCB – San Miguel sells local beer brands to SMC Brewery
PLTL/TEL – PLDT approves change in revenue sharing ratio with Smart
FLI – Filinvest Land awarded large Cebu City real estate project
RCB – RCBC to issue P4.0bn in Tier–2 capital
Consumer –... more
Daily Navigator 27 January 2009
SMC/SMCB – Changes to Meralco board and management
Imports continue to fall sharply in Nov08
more
Daily Navigator 26 January 2009
SMC/SMCB – San Miguel to take seats in Meralco board today
URC – Moody’s removes credit rating on URC bonds
more
Daily Navigator 23 January 2009
IP – IPVG to expand newly 3D animation business
RLC – Robinsons Land reported strong net profit growth in FY08
Intel closes Philippine factory
more
Daily Navigator 21 January 2008
SMC/SMCB/SMB – San Miguel confirms interest in Bataan power plant
JFC – Jollibee may cut back product prices as costs go down
IP – IPVG buys 51% of animation company; restructures equity and subsidiaries
AP – Aboitiz Power to issue fixed–rate bonds
more
Daily Navigator 22 January 2009
SMC/SMCB/SMB – San Miguel considering Extelcom purchase
Property – office lease rates soften in Makati and Ortigas CBDs
more
Daily Navigator 20 January 2009
SMC/SMCB/SMB – San Miguel is negotiating with Kirin for a possible sale of stake in San Miguel Brewery
MER – PSE lifts suspension on Meralco shares trading
HLCM – Holcim to keep Mindanao plant production closed in 2009
more
Daily Navigator 19 January 2009
SMC – San Miguel replies to PSE show cause letter
MWC – Manila Water proposes concession extension in light of rate hike freeze
Agricultural production in 2008 slows down
Fertilizer prices continue fall
more
Daily Navigator 16 January 2009
SMC – PSE asks SEC to rule on tender offer issue of San Miguel
MER – Meralco trading suspension near lifting
AEV/AP – Aboitiz planning retail bond offering
OFW remittances growth strong at 10.5% in Nov08
M3 growth improves to 14.6% in Nov08
more
Daily Navigator 17 January 2009
Testing more
Daily Navigator 16 January 2009
SMC – PSE asks SEC to rule on tender offer issue of San Miguel
MER – Meralco trading suspension near lifting


AEV/AP – Aboitiz planning retail bond offering


OFW remittances growth strong at 10.5% in Nov08


M3 growth improves to 14.6%... more
Daily Navigator 15 January 2009
SMC – PSE warns SMC that it needs to comply with disclosure rules of the exchange
BKD – Bankard sells remaining Visa shares
ROX – Roxas Holdings Inc. selling carbon credits to WB
Telecoms – QTel purchases Liberty Telecom shares
Banking – GSIS and Sunlife exit... more
Daily Navigator 14 January 2009
SMC – A continuing discussion on the San Miguel–Petron call option implications
Telecoms – NTC rules no foreign ownership limitations for telecom content, applications, and gaming provider more
Daily Navigator 13 January 2009
SMC – San Miguel–Petron option does not translate to tender offer breach
TUNA – Additional details on MK Victory Fund investment
Oil falls below US$40/bbl
Treasury rates fall significantly
Exports continue to decline in Nov08
more
Daily Navigator 12 January 2009
FPH – First Phil. Holdings sets special meeting to amend by–laws
TEL – PLDT–Smart plans completion of HSPA rollout within the month
BSP targets 11–13% M3 growth
Bank closures spike in 2008
Rice and steel prices expected to move up
more
Daily Navigator 09 January 2009
SMC/SMCB – San Miguel paying US$10m for Petron option
TUNA – Alliance Tuna expanding export capacity
BRN – NGCP to take over Transco operations next week
DMC – DMCI secures two projects from Maynilad
Vehicle sales in 2008 post respectable gains
more
Daily Navigator 08 January 2008
TUNA – HK fund invests in Alliance Tuna; Alliance Tuna to proceed with NZ acquisition
PX – Philex reports Dec08 production
TEL – PLDT acquires Mindanao operations of PhilCom
Pricing of government US$1.5bn offering
GIR level at Dec08
more
Daily Navigator 07 January 2008
SMC/SMCB – More on San Miguel option to indirectly acquire Petron
DMC/ALI – DMCI bags contract to build Ayala Land JV hotel
MPI – Metro Pacific plans sale of Landco
AT – Atlas ships first copper concentrate to China
Dec08 inflation analysis; government plans US$1.5bn... more
Daily Navigator 06 January 2008
SMC/SMCB – San Miguel announces option to purchase Petron indirectly; plan to develop food security with Kuok finalized
BRN – A. Brown says NGCP to raise equity to finance downpayment
Inflation slows down further in Dec08
more
Daily Navigator 05 January 2009
MER/PSE – PDTC seeks guarantee from Phil. Stock Exchange
FPH – Philratings downgrades First Phil. Holdings debt
AT – Toledo Mining downsizes workforce
APX – Apex Mining to start gold production in Mindanao
more
Daily Navigator 24 December 2008
SMC – San Miguel finalizing Petron deal
PNB – Merger with Allied bank delayed on restrictions on foreign investments
Manufacturing output decelerates; imports decline on commodity deflatio more
Daily Navigator 23 December 2008
SMC – San Miguel buys into Petron; spins off brewery assets
ALI – Ayala Land interested in FTI property
MER – PSE may lift suspension of Meralco shares
MPI – Metro Pacific buying additional 5.8% of Maynilad
AEV/ATS – Aboitiz renegotiates sale of transport group more
Daily Navigator 22 December 2008
SMC – San Miguel prepares US$1.0bn preferred issue in 2009; to acquire control in Petron this week
East West wins preferential bidding status for Philam Savings
Fiscal deficit narrows in Nov08
more
Daily Navigator 19 December 2008
BSP cuts key rates
MBS issuance by NHMFC postponed again
more
Daily Navigator – 18 December 2008
MER – Meralco appeals PSE suspension
AEV/ATS – Kuwaiti buyer completes due diligence; places a new purchase order
Federal Reserve cuts funds rates
Cement firms downsizing; reducing production
more
Daily Navigator – 17 December 2008
MER – Meralco cancellation of LBP held shares spurs PSE suspension
AP – Aboitiz Power increases size of note issuance
more
Daily Navigator – 16 December 2008
MER – Meralco plans to issue debt for general purposes; cancels LBP–held shares
GMA7 – GMA Network plans rate hike in 2009; says its catching up with ABS on NUTAM ratings
OFW remittances and M3 growth decelerate in Oct08
more
Daily Navigator – 15 December 2008
SM – SM Investments pushing through with MOA entertainment complex
SMC – San Miguel signs MOU with Qatar; plans buying 60% of Liberty Telecom
RLT – Completes settlement with BPI
more
Daily Navigator – 12 December 2008
AC – Ayala Corp. announces completion of E–Telecare tender offer
TEL – Smart borrows P5bn from local market for capex expansion
BPC – Benpres purchase Red Vulcan loan
Consumer – Weak Ebola virus strain found in some local swine farms
more
Daily Navigator – 11 December 2008
SMC/SMCB – San Miguel–Qtel buying majority stake in Liberty Telecom
TEL – PLDT increases share buyback
MER – ERC reduces systems loss cap



Exports fall sharply in Oct08


more
Daily Navigator – 10 December 2008
PIP – An Australia–based fund buys 5% of Pepsi–Cola Philippines
EDC – Energy Development Corp. plans borrowings of US$400–500m
more
Daily Navigator – 09 December 2008
SMC/PCOR/Telecoms – San Miguel plans purchase of control in Petron; venturing into telecoms with Qatar partnership
Car unit sales continue to slow down
91–day Tbill rate rises sharply
more
Daily Navigator – 08 December 2008
PCOR – Ashmore to purchase government stake in Petron
Inflation decelerates to 9.9% in Nov0 more
Daily Navigator – 05 December 2008
BRN – President Arroyo signs Transco franchise bill into law
BPC – Benpres transfers voting rights in First Holdings to Lopez Inc.
more
Daily Navigator – 04 December 2008
MPI – Metro Pacific budgets around P6bn to enter ports business
GMA7 – GMA Network sues Channel 5 for violating constitutional limits
LTFRB cuts minimum fare rates for public transportation
more
Daily Navigator – 03 December 2008
MER – GFIs sell combined stake in Meralco to Global 5000 investment fund

Yields on 20–year Treasury rise by 87.5bps

more
Daily Navigator – 02 December 2008
PX – Philex completes sale of treasury shares to First Pacific
AT – Berong JVs with China firm for development of small nickel plant
Power – Transco/NGCP to receive franchise by 17 Dec
BIR misses collection target
more
Daily Navigator – 28 November 2008
SECB – Security Bank prices Tier 2 Capital offering at 8.62%
RCB – RCBC offers to acquire Asiatrust
Another look at 3Q08 GDP results
more
Daily Navigator – 27 November 2008
SMC/MER – SSS, Landbank, and DBP suggest block sale of their Meralco shares; SMC denies interest; but then again…
ICT – ICTSI secures loans for debt refinancing
ROX – Roxas Holdings to search for new investors post reorganization
GDP growth stable at 4.6% in 3Q08; Imports... more
Daily Navigator – 26 November 2008
EEI – EEI reports 75% y/y increase in 9m08 profit
Updates on US Economy – New bailout and stimulus packages
more
Daily Navigator – 25 November 2008
JFC – Jollibee completes purchase of Lao Dong
MPI – Metro Pacific plans capital raising activities to finance new investments
T – TKC Steel to stop operations temporarily for modernization fixes
Treasury bill rates increase
more
Daily Navigator – 24 November 2008
DGTL – Digitel reports widening of losses in 9m08 on forex adjustments
ALI – Ayala Land plans P20bn capex in 2009; a possible reduction from 2008 level
SMC – San Miguel to implement major capital raising thrust to fund planned acquisitions
more
Daily Navigator – 21 November 2008
IP – IPVG sustains net profit growth in 9m08; becomes more conservative with outlook
PX – Philex completes treasury share offer; First Pacific can now buy the block
AC – Ayala Corp. completes preferred share issue
more
Daily Navigator – 20 November 2008
DMC – DMCI reports decline in 9m08 earnings on the back of accounting changes
PAL – PAL Holdings reports decline in FY 1H09 earnings as fuel costs rise
Cement/Consumer – Government cuts cement and wheat tariffs to zero
SMC – Court finds San Miguel Corp. guilty of hoarding... more
Daily Navigator – 19 November 2008
MER – Meralco reports decline in 3Q08 net profit on additional provisions
􀂅 Sector
Consumer – Congress discusses excise taxes on soft drink syrups
Fiscal deficit for 9m08 widen more
Daily Navigator – 18 November 2008
ABS – ABS–CBN buys 5% of Multiply.com; IP – IPVG creates BPO holding company in Singapore
FGEN – First Generation reports decline in 9m08 profit on higher interest cost
SGI – Solid Group reports sharp reversal from loss to profit in 9m08 on rising myPhone sales more
Daily Navigator – 17 November 2008
FLI – Filinvest Land reports y/y decline in 9m08 earnings
BPC – Benpres reports reversal to net loss in 9m08 from 9m07 profit
SECB – Security Bank reports flat y/y growth in 3Q08 earnings
Banking – Short–list of banks to acquire Philam Savings reporte more
Daily Navigator – 14 November 2008
VLL – Vista Land reports rise in 9m08 core profit
MPI – Metro Pacific reports reversal of loss to profit in 9m08
JFC – Jollibee reports decline in net profit in 9m08
more
Daily Navigator – 13 November 2008
Government downgrades 2008–2009 economic forecasts
M3 growth accelerates in Sep08
AC – Ayala Corp. reports decline in 9m08 profit
SM – SM Investments reports growth in 9m08 profit
MEG – Megaworld reports continued growth in 9m08 profi
more
Daily Navigator – 10 November 2008
ALI – Ayala Land reports decline in 3Q08 net profit; Maintain SELL.
Property – SEC defers implementation of IFRIC 15 until 2012
more
Daily Navigator – 11 November 2008
MER – Meralco petition to postpone refund denied
AEV – Aboitiz reports slight decline in recurring 3Q08 profit
UBP – Union Bank reports positive growth in 3Q08 profit
ICT – ICTSI reports flattish growth in 3Q08 profit amidst accounting change
PCOR – Petron reports... more
Daily Navigator – 07 November 2008
SMC – San Miguel reports rise in 9m08 net profit
AP – Aboitiz Power issues debt notes to fund potential acquisitions
more
Daily Navigator – 06 November 2008
PCOR – Petron starts additive blending project
SMC – San Miguel seeks counterbid for PT Bumi
TUNA – Alliance Tuna nearly triples 3Q08 net profit
MBT – Metrobank reports large decline in profit due to provisioning
Inflation at 11.1% in Oct08
more
Daily Navigator – 05 November 2008
TEL – PLDT reports 3Q08/9m08 earnings; 2008 profit intact but 2009 uncertainties highlighte more
Daily Navigator – 04 November 2008
MER – Meralco begins refunding meter deposits
PLTL – Piltel reports 9m08 earnings – up 19.5% y/y
more
Daily Navigator – 03 November 2008
MWC – Manila Water proposes running Boracay water concession
SM/SMC – SM Investment completes sale of San Miguel shares
TEL/ALI/SMC – PLDT earnings to serve as market guidance
more
Daily Navigator – 31 October 2008
MWC – Manila Water reports 13% rise in 9m08 net profit
Banking – Bank association adopts measures to support financial system
Petrol companies announce rollbacks; transport fares to be cut as well
more
Daily Navigator – 29 October 2008
SMC – San Miguel investing for control in Petron
ICT – ICTSI secures Brunei port investment
PIP – Pepsi earnings down in FY 1Q09
more
Daily Navigator – 28 October 2008
SMC – San Miguel announces acquisition targets (Petron, PT Bumi, and Meralco)
APX – Apex discovers new gold vein in Maeo project
BDO – Banco de Oro reports net loss in 3Q08
more
Daily Navigator – 27 October 2008
AT – Atlas pays to extend bridge loan deadline
TEL – PLDT asks for TRO not to lose exclusive rights to operate telco facility in Bonifacio Global City
Banking – Bankers seek clarification to include credit linked notes in BSP Circular
more
Daily Navigator – 24 October 2008
MBT – Metrobank expresses interest in Philamlife
GMA7 – GMA Network 9m08 net profit up 9.5%
WEB – Philweb 9m08 net profit up 74%
Banking – BSP allows banks to protect themselves from mark–to–market losses
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Daily Navigator – 23 October 2008
FGEN – Marubeni considers Red Vulcan investment
PCOR – Ashmore plans purchase of PNOC stake
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Daily Navigator – 21 October 2008
ROX – Roxas Holdings consolidates sugar subsidiaries and assets
MWC – Manila Water issues P4.0bn bonds successfully
Fiscal deficit at P53.4bn in 9m08
BSP hints on RR adjustments
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Daily Navigator – 17 October 2008
SMC/SMCB – San Miguel interested in PNOC–EC bidding
PX – Philex offers treasury shares to investors
MWC – Manila Water hikes bond issue size on good demand
SMB – San Miguel Brewery reports 9m08 profit growth – Positive
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Daily Navigator – 20 October 2008
PX – Philex plans acquisitions post sale of treasury shares
AC – Ayala receives SEC approval for capital issue
SMC – San Miguel eyes bigger Ashmore stake in Petron
DMC – DMCI expects sale of AG&P soon
KB loan growth up 24.1% and M3 growth rises to 9.8% for Aug08
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Market Strategy– 15 October 2008
Cash power rules inflation and earnings decelerat more