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Stock market falters after 6-day run-up

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PSE index as of October 09, 2013, 03:46:00 PM

The local stock market ended a six-day run-up on Wednesday as investors weighed the risks of a US debt default as a result of the political stalemate that has held up passage of the US federal budget alongside concerns about weaker global economic prospects cited by the International Monetary Fund.

Posted: October 9th, 2013 in Latest Business Stories,Stocks | Read More »

SMC pares down stake in Meralco, raises P17.4 B

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Pedestrians walk past a Meralco sign in suburban Manila in this file photo. AFP FILE PHOTO

San Miguel Corp. has raised P17.4 billion from the sale of an initial 5.7 percent stake in the country’s largest power distributor, Manila Electric Co.

Posted: July 19th, 2013 in Latest Business Stories | Read More »

Power projects of SMC units get BOI incentives

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San Miguel Corp. has secured approvals from the Board of Investments for P51 billion worth of coal-fired power projects that are expected to significantly shore up power supply in Luzon and Mindanao in three years’ time.

Posted: June 17th, 2013 in Headlines | Read More »

Lucio Tan sells rest of PAL to SMC

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Lucio Tan. FILE PHOTO

Diversified conglomerate San Miguel Corp. has sealed a deal to acquire the entire holdings of tycoon Lucio Tan in flag carrier Philippine Airlines (PAL), the Inquirer learned on Friday.

Posted: June 8th, 2013 in Latest Business Stories | Read More »

SMC open to sale of Meralco stake

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Conglomerate San Miguel Corp. is open to selling its 36-percent stake in Manila Electric Co. at current market prices, company chief Ramon S. Ang said.

Posted: May 9th, 2013 in Headlines | Read More »

SMC raises $800M from sale of bonds

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San Miguel Corp. has raised $800 million from a 10-year overseas bond sale, setting a new record as the biggest US dollar-denominated corporate bond issue out of the Philippines.

Posted: April 20th, 2013 in Headlines | Read More »

SMC, Metro Pacific reach deal on road project

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The San Miguel and Metro Pacific groups have struck a compromise on the P7-billion, five-kilometer common alignment for their respective North Luzon-South Luzon Expressway connector road projects, according to Inquirer sources.

The San Miguel and Metro Pacific groups have struck a compromise on the P7-billion, five-kilometer common alignment for their respective North Luzon-South Luzon Expressway connector road projects, allowing their major infrastructure projects to move forward.

Posted: January 21st, 2013 in Editor's Pick,Headlines | Read More »

SMC, Citra plan infra joint venture

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san-miguel

CONGLOMERATE San Miguel Corp. and Jakarta-based Citra Group is building up a war chest worth $1 billion for infrastructure projects in the Philippines and Indonesia, with the aim of becoming Southeast Asia’s biggest toll road player.

Posted: November 24th, 2012 in Editor's Pick,Headlines | Read More »

PAL eyes stake in Cayman Islands airline

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FILE PHOTO

Flag carrier Philippine Airlines is in negotiations to acquire as much as a 50-percent equity in the national airline of the Cayman Islands in what could be the long-awaited solution to the downgraded aviation safety status that has hounded local carriers since 2008.

Posted: November 13th, 2012 in Editor's Pick,Headlines | Read More »

SMC lists P80-B preferred shares

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san-miguel

Diversifying conglomerate San Miguel Corp. listed on the Philippine Stock Exchange on Friday P80 billion worth of a new series preferred shares, the largest capital market foray in the country to date.

Posted: September 28th, 2012 in Latest Business Stories | Read More »

SMC sold 11.2% stake in Rockwell to Lopezes for P1.37B

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smc

San Miguel Corp. has signed a deal to sell an 11.2-percent stake in Rockwell Land Corp. to the Lopez family for P1.37 billion, allowing the latter to further consolidate their controlling ownership in the newly listed upscale property developer.

Posted: July 16th, 2012 in Latest Business Stories | Read More »

Ramon Ang takes full control of San Miguel Corporation

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Ramon S. Ang on Friday took full control of conglomerate San Miguel Corp. (SMC) after its chair, Eduardo Cojuangco Jr., sold a huge chunk of his stake in the diversified firm to his hard-charging protégé.

Posted: June 30th, 2012 in Headlines | Read More »

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