Property developer SM Prime Holdings Inc. (SMPH) plans to issue P25 billion worth of fixed retail bonds next month based on the company’s regulatory filing. Food and beverage company RFM Corp. said Wednesday its board approved the declaration of P200-million cash dividend to shareholders amid strong financial performance in the first half of 2023. The Philippine Stock Exchange index (PSEi) extended its losing streak Wednesday, dropping below the 6,500 level, as US markets fell overnight.
The PSEi, which comprises 30 of the country’s largest listed companies, declined by 128.83 points or 1.95% to close at 6,468.77. Nickel Asia Corp (NAC), a mining firm owned by businessman Manuel Zamora, is in talks with Japan’s Sumitomo Metal Mining Co. (SMM) for the potential sale of a stake in its nickel smelting business. The Securities and Exchange Commission (SEC) said Tuesday it will review the Philippine Stock Exchange’s (PSE) planned acquisition of a controlling stake in Philippine Dealing System Holdings Corp. (PDSHC). Philippine stocks succumbed to profit-taking Tuesday after the December inflation quickened and US stocks ended mixed. The bellwether Philippine Stock Exchange index lost 79.79 points, or 1.22%, to close at 6,548.58. Philippine stocks rose for a third consecutive trading day ahead of key inflation report. The 30-company Philippine Stock Exchange index climbed 21.36 points, or 0.32%, to close at 6,548.58.Premium Lands Corp. (PLC) said it plans to transform the dormant listed firm Asiabest Group International Inc. (ABG) into a holding company engaged in property development and other businesses
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