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Philippine shares slump for fifth day straight

2018-03-06 bworldonline
Stock prices extended their decline on Tuesday, March 6, following reports on February inflation accelerating to its fastest pace in three years. (9-0)

CTA affirms P1.6-B tax refund for Lucio Co, family

The Court of Tax Appeals (CTA) has affirmed a division ruling ordering the Bureau of Internal Revenue (BIR) to refund a total of P1.647 billion to retail tycoon Lucio Co and his family for the erroneous payment of capital gains taxes in 2012.

PSEi to reach 9,500 level this year, says brokerage

2018-01-22 bworldonline
RCBC Securities, Inc. sees the market ending at the 9,500 level by the end of 2018, fueled by the continued positive outlook on the Philippine economy. (15-0)

Puregold to open 25 stores this year

2018-01-01 bworldonline
PUREGOLD Price Club, Inc. will continue the expansion of its supermarket business in 2018 as it plans to open 25 new stores.

Christmas optimism seen boosting stocks

No big movements are expected in the stock market today, although there is reason for investors to be more optimistic as the Christmas season—and the typical heavy consumer spending that comes with it—approaches. (8-0)

SEC clears Puregold takeoverof Budgetlane grocery chain

2017-11-27 philstar
MANILA, Philippines — The Securities and Exchange Commission (SEC) has issued the certificate of merger to Lucio Co’s Puregold and the operator of grocery chain Budgetlane, paving the way for the conversion of more stores into the Puregold brand. (5-0)

SEC approves Puregold merger with 3 retailers

2017-11-27 bworldonline
THE Securities and Exchange Commission (SEC) has approved the merger of three provincial retail companies with Puregold Price Club, Inc., tycoon Lucio L. Co’s company told the stock exchange on Monday. (15-0)

PSEi gains 1.27%, closes at above 8,311

The benchmark Philippine Stock Exchange Index (PSEi), in a reversal of the previous day’s decline, ended Friday’s session up 1.27 percent, or 104.6 points, to 8,311.08. Also recovering were index heavyweights Ayala Corp. and SM Investments Corp., which were down the day before. (18-0)

Retailers post higher profits in 9 months

2017-11-16 philstar
In separate disclosures, SSI Group, the country’s largest specialty store retailer, said net income rose 12 percent to P342 million while core recurring income, which excludes one-time write-offs related to the group’s store rationalization program, increased 13 percent to P444 million. (0-1)

Lucio Co’s Cosco Capital posts flat earnings

2017-11-16 bworldonline
COSCO CAPITAL, Inc. reported flat earnings in the third quarter, as sales and expenses grew at the same pace. (0-1)

Remittances reports turn off market; PSEi down 1.27%

The benchmark Philippine Stock Exchange index yesterday sank as investors were disappointed with the latest results on overseas remittances, a pillar of the country’s economy. (23-0)

SM bags award as top Philippine retailer

2017-11-07 philstar
SM Retail Inc. was recently honored with the Gold Award as the Philippines’ Top Retailer during the Retail Asia-Pacific Top 500 Awards ceremony and gala dinner held at The Westin Kuala Lumpur in Malaysia. Photo shows KPMG China head of consumer and retail, ASPAC Anson Bailey (right) presenting the trophy to SM Mart Inc. VP for operations, Store Business Unit Ros Oquialda (left) and SM SVP for marketing communications Millie Dizon.

Duterte tax reform spells stimulus for retailers

2017-10-11 bworldonline
MAU Dizon, a marketing officer in one of the largest Philippine banks, is among millions of Filipino taxpayers who stand to benefit from President Rodrigo R. Duterte’s tax reform plan that aims to return to consumers P860 billion ($17 billion) over five years. (9-0)

Duterte’s US$17b tax changes spell stimulus for retailers

2017-10-11 themalaymailonline
Employees load up shopping carts at a supermarket in Paranaque city, Manila October 31, 2016. — Reuters picMANILA, Oct 11 — Mau Dizon, a marketing officer in one of the largest Philippine banks, is among millions of Filipino taxpayers who stand to benefit from President Rodrigo Duterte’s tax reform plan that aims to return to consumers 860 billion pesos (US$17 billion or RM70.9 billion) over five years. (9-0)

Puregold partners with Philippines AirAsia

2017-05-05 philstar
MANILA, Philippines - Puregold Price Club Inc. is taking its retail marketing to greater heights through a partnership with budget carrier Philippines AirAsia (PAA) for two plane liveries. (0-1)