STI to Build New Academic Centers in Sta. Mesa and San Jose del Monte

Makati—(PHStocks)—The STI Education Services Group Inc. (PSE: STI) gears up for the influx of college freshmen in school year 2018-19 by continuing the network’s expansion plan of putting up new campuses in key locations nationwide.

Adding to the roster of soon-to-rise prime hubs for academic excellence, STI broke ground for two Academic Centers in Sta. Mesa, Manila and San Jose del Monte City, Bulacan on May 23, 2017 in its goal to make real life education more accessible to the Filipino youth.

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DD to Offer 7-Year Fixed Rate Retail Bonds

Makati—(PHStocks)—DoubleDragon Properties Corp. (PSE: DD) has filed a preliminary prospectus with the Securities and Exchange Commission (SEC) covering the issuance of the second tranche of its Fixed Rate Retail Bonds indicating a base size of PhP6.5 billion with an oversubscription of PhP3.2 billion. The proposed issuance forms part of the PhP15 billion Fixed Rate Retail Bonds previously approved by the SEC and filed under a shelf registration program, the first tranche of which was issued last December 2016 amounting to PhP5.3 billion.

“This offering will be a good chance for retail bond investors to participate in a fresh name like DoubleDragon since we do not expect to be tapping the bond market again anytime soon beyond what is remaining on our shelf registration from last December. Once completely taken up, the proceeds are expected to fully cover our development plans through 2020 for both our office and retail portfolios,” said Hannah Yulo, Chief Investment Officer of DoubleDragon.

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BDO Forges Strong Alliance with Japan’s Seven Bank

Makati—(PHStocks)—BDO Unibank Inc. (PSE: BDO) and Japan’s Seven Bank Ltd have sealed on Wednesday a business pact that will capitalize on their strengths in retail business.

The partnership covers the upcoming launch of an international money transfer service to the Philippines, allowing customers to easily transfer money from Japan to the Philippines just by downloading “SEVEN BANK International Money Transfer” application on their mobile phones.

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CIC Q1 Earnings Jumps 19%

Manila—(PHStocks)—Concepcion Industrial Corp. (PSE: CIC) has announced PhP218 million in net income after minority interest for the first three months of 2017, a 19% increase from year-ago figures on the back of a top-line growth of 15% to PhP3.1 billion in Q1.

The 15% jump in sales for the first quarter was primarily driven by 14% growth in the Consumer Lifestyles Solutions segment as well as 17% increase in the Building and Industrial Solutions. The demand for inverter units and strong commercial order growth continue to push the momentum in the run up to the summer season.

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SM Prime Sets Interest Rates for PhP15 Billion Retail Bonds

Pasay—(PHStocks)—SM Prime Holdings Inc. (PSE: SMPH) has set the interest rates for its Peso-denominated Series G, 7-year retail bonds at 5.1683% p.a last May 2. SM Prime issued an aggregate principal amount of PhP15 billion of the Series G bonds, with an option to issue an additional amount of up to PhP5 billion. The retail bonds will be offered by SM Prime to investors through underwriters from May 4 to May 11, following the receipt of the Permit to Sell from the Securities and Exchange Commission. The retail bonds are set to be issued on May 18.

“The proceeds of the retail bonds will enable SM Prime to pursue our expansions of mall and residential businesses, which are the growth drivers of the company,” SM Prime President Jeffrey C. Lim said.

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PBB Expands Loan Portfolio to PhP55.4B

Caloocan—(PHStocks)—Philippine Business Bank (PSE: PBB) reported a net interest income of PhP682.7 million for the first quarter of 2017, up 15.8% versus PhP589.4 million in the same period last year. The Bank’s pre-tax pre-provision profit expanded by 12.2% to PhP234.6 million versus the PhP209.2 million of the previous year. Interest income from loans and other receivables sustained a 23.1% growth ending the first three months of 2017 at PhP781.9 million from PhP635.3 million in 2016 as loan volume continued to increase.

PBB ended March 2017 with PhP55.4 billion in total loans and receivables from PhP40.8 billion in March 2016, a 35.8% growth. In effect, total resources increased by 18.4% reaching PhP73.2 billion during the first quarter of 2017.

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Petron 2016 Sales Hit Record Highs; Net Income Reaches PhP10.8B

Mandaluyong—(PHStocks)—The Philippines’ largest oil refining and marketing company Petron Corp. (PSE: PCOR) sustained its strong performance posting a consolidated net income of PhP10.8 billion in 2016, a 73% increase from the previous year’s earnings of PhP6.3 billion.

The company’s robust performance was driven by record sales volumes, operational efficiency with increased crude run at higher product yields, and effective risk management.

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Ayala Net Income Climbs to ₱26B

Makati—(PHStocks)—Ayala Corp. (PSE: AC) reported a net income of ₱26 billion in 2016, 17 percent higher than the previous year, on the back of double-digit growth contributions from its real estate and banking units, boosted by its emerging businesses in power and industrial technologies.

This positive earnings momentum was driven by the robust equity earnings contribution from Ayala business units, which expanded 14 percent from its year-ago level, to ₱32 billion. Equity earnings from the Bank of the Philippine Islands (PSE: BPI) and Ayala Land Inc. (PSE: ALI) jumped 19 percent and 18 percent, respectively. Meanwhile, equity earnings from AC Energy soared 27 percent, while equity earnings from AC Industrials grew 51 percent as its automotive business surged nearly fivefold during the year.

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