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Cebu Landmasters FOO approved by the PSE - philstar.com - Philippines - Usa - China

Cebu Landmasters FOO approved by the PSE

Cebu Landmasters [CLI 2.83, up 0.3%] [link] had its follow-on offering of preferred shares approved by the PSE. CLI will raise up to P5 billion through the sale of two series of preferred shares which will be listed under the ticker symbols CLIA1 and CLIA2. The dates provided by the PSE showed that the prefs would be priced today (meaning that CLI would apply the dividend rates to each series; both will sell for P1000/share). The offer period will run from March 19 through April 2, with a listing tentatively scheduled for April 12. The transaction will be jointly managed and underwritten by BPI Capital [BPI 120.00, up 1.6%] and China Bank Capital [CHIB 36.00, up 2.7%].

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Ralph G.Recto - DOF engages finance sector to further refine proposed bill on simplifying passive income tax and other financial instruments - dof.gov.ph - Philippines

DOF engages finance sector to further refine proposed bill on simplifying passive income tax and other financial instruments

The Department of Finance (DOF) engaged finance sector stakeholders in a briefing on March 1, 2024 on the proposed Package 4 of the Comprehensive Tax Reform Program (CTRP) that will simplify the tax structure on passive income and certain instruments and other financial products.

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Mayen Jaymalin - FDA warns public vs fake Valium - philstar.com - Philippines - city Manila, Philippines

FDA warns public vs fake Valium

MANILA, Philippines — The Food and Drug Administration (FDA) has warned the public against counterfeit Valium being sold in the market.

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Roxas and Co went near-ceiling on solar farm speculation - philstar.com

Roxas and Co went near-ceiling on solar farm speculation

Roxas and Company [RCI 0.88, up 49.1%] [link] saw its shares shoot up 49% in yesterday’s trading session, prompting an inquiry from the Capital Markets Integrity Corp. (the market watchdog) for an explanation. RCI responded that it has “no knowledge or information that may account for the unusual movement of its stock price”. However, there was significant speculation in several online forums on the potential use cases for the 1,619 hectares of land that the Department of Agrarian Reform recently confirmed to belong to RCI. The speculation centered around the possibility that Manny Pangilinan, through his control of Metro Pacific Investments and SP New Energy [SPNEC 1.08 unch], could leverage MPI’s connections with RCI to use its voluminous land holdings as potential sites for future solar farms under the SPNEC banner. None of the companies involved have made any statements (that I could find) in support of the speculation’s thesis, but the pump happened anyway.

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Ralph G.Recto - Swedish investors to Recto: PH is where we should be - dof.gov.ph - Philippines - Thailand - Sweden - Brazil

Swedish investors to Recto: PH is where we should be

Swedish investors have expressed their strong interest in investing in the Philippines in light of its robust macroeconomic fundamentals, improved business climate, and highly skilled workforce during a meeting with Finance Secretary Ralph G. Recto on March 8, 2024.

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Agence FrancePresse - French baker hailed chocolate croissant world champion - philstar.com - Usa - Vietnam - France - Canada - China - Lebanon - Italy - Morocco - Egypt - state California - Sri Lanka - Cameroon - Saudi Arabia - Tunisia - Ivory Coast

French baker hailed chocolate croissant world champion

TOULOUSE, France — A French baker has won the Chocolate Croissant World Cup, wowing judges with his windmill-shaped variation of the pastry with a dash of Chinese pepper and a citrus glaze.

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DAR-BJMP continues partnership against Hunger and Poverty - dar.gov.ph - county Del Norte - city Dipolog

DAR-BJMP continues partnership against Hunger and Poverty

The Department of Agrarian Reform (DAR) and Bureau of Jail Management and Penology (BJMP) in Zamboanga Del Norte continue its partnership in combatting hunger and poverty and ensuring food security through their renewal of marketing agreement implemented under the Partnership Against Hunger and Poverty (PAHP) Program.

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Century Pacific expands and extends coco product supply agreement with Vita Coco - philstar.com - Philippines

Century Pacific expands and extends coco product supply agreement with Vita Coco

Century Pacific Food [CNPF 35.05, down 2.1%] [link] said that it has entered into a new agreement with The Vita Coco Company (Vita Coco), which CNPF describes as a “global leader in the coconut water category”, to supply Vita Coco with 90 million liters of coconut water over the next five years. This supply contract will require CNPF to spend approximately $40 million (~P2.2 billion) in capex to increase its capacity at its facilities in Mindanao. CNPF expects this agreement to create 1,500 manufacturing jobs.

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