POPI to Become ALL

The board of directors of Prime Orion Philippines Inc. (PSE: POPI) approved the amendment of the First Article of its Articles of Incorporation and its By-Laws to change its corporate name to Ayalaland Logistics Holdings Corp., with a new stock symbol ALL.

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FEU Declares Cash Dividend

The Board of Trustees of Far Eastern University Inc. (PSE: FEU) has declared a cash dividend of PhP8.00 per share to all stockholders of record as of March 6, 2019, payable on March 20, 2019.

The total cash dividend amounts to PhP131.8 million. The books will be closed from 11 March 2019 to 20 March 2019, both dates inclusive.

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Warning Against the Improper Handling of Philippine Currency

The Bangko Sentral ng Pilipinas (BSP) warns the public that the willful defacement, mutilation, tearing, burning or destruction of Philippine banknotes and coins are punishable by a fine of not more than PhP20,000.00 and/or imprisonment of not more than five years, under Presidential Decree  No. 247. It also states that Philippine “banknotes and coins are issued for circulation as medium of exchange and to utilize them for other purposes does not speak well of the due respect and dignity befitting our currency.”

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China Bank Receives PRS Aaa Credit Rating

China Banking Corp. (China Bank, PSE: CHIB), one of the country’s leading private universal banks with a strong franchise in the Chinese-Filipino market, received an issuer rating of PRS Aaa (corp.) from Philippine Rating Services Corp. (PhilRatings). As of September 30, 2018, China Bank was the country’s sixth-largest bank based on assets, loans, and deposits. The bank had 616 branches and 951 ATMs, as of September 30, 2018.

An issuer rating is an opinion on the general and overall creditworthiness of the issuer, evaluating its ability to meet all its financial obligations within a time horizon of one year. The focus is on financial strength and stability under normal and stressed conditions to be able to meet existing and prospective financial obligations.

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Boulevard Holdings January Sales Up 6%

Boulevard Holdings Inc. (PSE: BHI) has posted sales of PhP14.7 million for the month ended January 31, 2019, up by 6% compared to January of 2018. For the eight months ended January 31, 2019, total sales reached PhP44.12 million, down by 31% compared to the same period last year.

According to Boulevard Holdings, the decrease in sales mainly due to the six-month closure of Boracay, Malay, Aklan for rehabilitation
effective April 26, 2018 and Friday’s Holdings Inc., which owns and operates Friday’s Boracay Beach Resort, is one of the companies affected by the order of the National Government. Friday’s Boracay Beach Resort restarted its hotel operations and hotel facilities on October 30, 2018.

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Sun Life Declares Dividends on Common and Preferred Shares

The board of directors of Sun Life Financial Inc. (PSE: SLF) (TSX: SLF) (NYSE: SLF) has declared a dividend of $0.50 per share on the common shares of the Company has been declared, payable March 29, 2019 to shareholders of record at the close of business on March 1, 2019. This is the same amount as paid in the previous quarter.

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Lufthansa Technik Declares Cash Dividends

Lufthansa Technik Philippines (LTP), a joint venture of MacroAsia Corp. (PSE: MAC) with Lufthansa Technik AG, has declared $35 million cash dividend payable on March 29, 2019 to MacroAsia (49%) and Lufthansa Technik AG (51%). MacroAsia’s share in this dividend declaration is $17.15 million.

Lufthansa Technik Philippines, based principally in Manila, is a dominant provider of aircraft maintenance, repair and overhaul, competing against the world’s best for the servicing of aircraft from all over the world.

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DMW Declares Cash Dividends

The board of directors of D.M. Wenceslao & Associates Inc. (PSE: DMW) approved the declaration of cash dividends amounting to PhP120 million at PhP0.035337 per share of common stock for all stockholders of record as of March 4, 2019.

The payment date is on March 28, 2019.

The cash dividends shall be paid out of the unrestricted retained earnings of the company available for distribution as dividends as of December 31, 2018.

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