Spotlight: Aboitiz Power (AP)

Aboitiz Power (AP) on Spotlight: If you are holding this stock or “stuck”, as some would call it, you would notice that its price hasn’t changed much since April 2020. This may not be a surprise because one big broker gives it a HOLD rating with a target price of P29.00; however, another similarly big

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GCash Attracts Over $175 Million Fresh Capital

In a press statement posted on the PSE Edge website on January 11, 2021, Globe Telecom, inc (GLO) disclosed that Globe Fintech Innovations, Inc., its financial technology arm and operator of the mobile wallet GCash, has attracted fresh capital investment from Bow Wave Capital Management. Below is Globe Telecom’s press release on the matter. “GCash

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GMA Network Allocates P20Bn+ for Three-year Capital Expenditures and Content Cost

GMA Network, Inc.’s (GMA7’s) disclosure on January 7, 2021 as posted on the PSE Edge: “GMA Network allocates over P20 billion for CAPEX, content cost for 2021-2023: Goes all-out on content production, digital TV expansion Quezon City, Philippines – GMA Network, Inc., the Philippines’ largest TV network, is going all-out as it earmarks more than

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Meralco Acquires Additional 20% Equity in PowerSource First Bulacan Solar, Inc.

In its disclosure to the Philippine Stock Exchange on January 7, 2021, Meralco (ticker symbol: MER) said PowerGen Corporation (MGen) acquired additional 20 percent equity in PowerSource First Bulacan Solar, Inc. (PowerSource) through its wholly-owned subsidiary MGen Renewable Energy, Inc. The transaction increases MGen’s’s indirect holdings to 60%; MGen is a 100% subsidiary of Meralco.

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PSEi Closed the Week at 7289.88

PSE Index as of January 08, 2021. The Philippine Stock Exchange Index (PSEi) closed strongly today, the last trading day of the week, at 7289.88. That’s 2.39% up from yesterday’s close of 7119.61 and 2.10% up from the December 29, 2020 close of 7139.71. The PSEi breached the minor resistances of 7211 and 7281, both

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MERALCO PowerGen Corporation acquires 86% stake in Global Business Power Corporation

Meralco disclosed on December 28, 2020 the substantial acquisition of Global Business Power Corporation by Meralco Powergen Corporation. The disclosure was posted on the PSE Edge website as follows: “MERALCO PowerGen Corp. (“MGEN”), a wholly-owned power generation subsidiary of Manila Electric Company (“Meralco”) entered into share purchase agreements with Beacon Powergen Holding Inc. (“BPHI”), a

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