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Bella Cariaso - Shear line raises Luzon dams’ elevations - philstar.com - Philippines - city Quezon - city Manila, Philippines

Shear line raises Luzon dams’ elevations

MANILA, Philippines —  Three major dams in Luzon continued to release water yesterday after heavy rains spawned by the shear line raised the reservoirs’ elevations closer to normal high water level.

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RCR declares final FY24 dividend - philstar.com - Philippines

RCR declares final FY24 dividend

RL Commercial REIT [RCR 6.04, down 0.2%; 203% avgVol] a Q4/24 dividend of P0.101/share [link], payable on February 28 to shareholders of record as of February 20. The dividend has an annualized yield of 6.69% based on the previous closing price, which is essentially flat with RCR’s pre-dividend annualized yield. The total amount of the dividend is P1587 million, which is 93% of the P1700 million in distributable income that RCR reported for the quarter. Relative to RCR's IPO price, the dividend increased RCR's total stock and dividend return to 14.73%, up from its pre-dividend total return of 13.17%.

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Bright Kindle executes Deed of Exchange with Strong Built - philstar.com - Philippines

Bright Kindle executes Deed of Exchange with Strong Built

Bright Kindle [BKR 1.26, down 9.3%; 66% avgVol] [link] said that its wholly-owned subsidiary, Brightstar Holdings and Development Inc. (BHDI), signed a Deed of Exchange to acquire 100% of the outstanding shares of Strong Built (Mining) Development Corp. (Strong Built), using P5 billion worth of newly issued shares of BHDI. Strong Built is a magnetite iron sind minder that has a mineral production sharing agreement that expires in seven years.

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Ayala Group worried that GCash IPO 'too big for our market' - philstar.com - China

Ayala Group worried that GCash IPO 'too big for our market'

In an interview with InsiderPH, PSE [PSE 178.00, up 1.8%; 138% avgVol] CEO Ramon Monzon [link] discussed the possible IPO of GCash, which counts Globe [GLO 2204.00, up 1.9%; 55% avgVol] and Ayala Corp. [AC 612.00 unch; 56% avgVol] as significant shareholders. GCash is said to be seeking a valuation of approximately P465 billion, and at this valuation, GCash would need to sell at least P90 billion worth of stock at an IPO to comply with the PSE’s 20% minimum public float rule. According to Mr. Monzon, he’s been in talks with GCash and the Zobel Family “because one concern is this might be too big for our market.” He added, “They’re asking me if I’m prepared to reduce the required float of 20%. I said I’m not dogmatic about the 20%.” 

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What do you want for Christmas? - philstar.com

What do you want for Christmas?

I’m only two days away from taking my Christmas leave, so like any desk worker, I’m not doing anything productive so I thought I’d respond to this question asking about my Christmas list (PSE edition). Let’s go!> Shorting:  I know the PSE said it’s done all it can, but that’s just not enough. It’s been a year. We need to walk before we can run, but we can't even take the first step.> Options:  It feels crazy to even ask for options trading if we still can’t even short stocks, but they don’t call it a “prioritized list of practical needs” list, they call it a Christmas wish list. > More ETFs:  I don’t understand the financial or practical challenges that keep ETFs from proliferating on the PSE. I’m thankful for FMETF, but I’m really confused why the world stopped there. It feels like a new series of interesting ETFs could also help drive volume and hit the non-PSEi stocks that rarely get any love.> More transparency:  Companies should not be able to present market-moving information to analysts during the trading day. Whatever is said to analysts should be live-streamed to the investing public, and a full transcript of what was said (with slides) should be posted on the EDGE server within 10 minutes of the meeting’s conclusion. > Kill the zombies:  I’m tired of seeing companies get suspended and then just not die after years of living in a limbo state between life and death. Involuntarily delist the companies that don’t comply. Everybody knows we have the fewest listed companies in the region, so failing to kick offenders off the exchange just encourages crappy behavior. Hell, even Phoenix [PNX suspended] should have been delisted a month ago according to the rules!> Hold IPOs accountable:  It feels counter-productive to require a company to go through the whole song and dance of cleaning up its financial statements and making a prospectus to conduct an IPO if we’re just going to let them do whatever they want with the proceeds anyway. I say that a company should be required to comply with its use of proceeds section for a three-year period and that any alterations to the section should require a two-thirds vote of the public float to succeed.

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DDMPR declares 'stable' Q3 dividend - philstar.com - Philippines

DDMPR declares 'stable' Q3 dividend

DDMP [DDMPR 1.04, up 1.0%; 108% avgVol] [link] declared a Q3/24 dividend of P0.023605/share, payable on February 14 to shareholders of record as of January 22. The dividend has an annualized yield of 9.08% based on the previous closing price (previously 9.06%). The total amount of the dividend is P421 million, which is 102% of the P414 million in distributable income that DDMPR reported for the quarter. Relative to DDMPR's IPO price, the dividend increased DDMPR's total stock and dividend return to -36.02%, up from its pre-dividend total return of -37.07%. Cumulatively through the first three quarters of 2024, DDMPR has distributed 107.5% of its distributable income through dividends. 

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OECD tells SEC what it already knows - philstar.com - Philippines

OECD tells SEC what it already knows

The Organisation for Economic Co-operation and Development (OECD) [link] performed a review of the Philippine capital markets at the request of our Securities and Exchange Commission (SEC), and the OECD presented its findings at an event hosted by the SEC yesterday. Part of the findings suggested things that are already well-known to traders and market observers, namely, that the PSE significantly lags behind its regional peers in terms of size and growth, and that there is a huge untapped pool of potential IPOs that remains private due to the high fees of listing and the burdensome process as currently required by the SEC and PSE. According to the OECD’s report, there are as many as 411 companies that could be potential IPOs, and it suggested that the PSE could become more attractive to those companies if it would reduce fees and reform the onboarding process to be quicker and less onerous. It also identified the PSE’s profitability requirement as an antiquated measure that prevents capital markets access to unprofitable companies.

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Bella Cariaso - 2 Luzon dams continue to release water - philstar.com - Philippines - city Manila, Philippines

2 Luzon dams continue to release water

MANILA, Philippines —  Two dams in Luzon continued to release water amid the rains brought by successive typhoons.

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