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SOUTHEAST Asia Cement Corp. (Seacem) closed the week at
P0.99 on value turnover of P46,237,700, its highest
since January 2, 2008, that landed it at the top of the
list of the market’s biggest gainers in the week ending
February 8, 2008.
The cement company, which gained 41.43
percent in five sessions, opened on Friday at P0.96,
peaked at P1.02 and dropped to a low of P0.96.
The market monitor prepared by the
Philippine Stock Exchange (PSE) showed last Friday was
not the first time in less than two months that
Southeast Asia Cement breached P1 at P1.02. On December
27, 2007, it reached P1.02 after opening at P1. It
closed the session at a session’s low of P0.99 on low
value turnover of P497,160. On December 28, 2007, it
opened at P0.98, hit a high of P1.02, dropped to a low
of P0.91 and closed at P1.
Calumboyan Holdings Inc. owns
3,419,211,948 shares, or 53.01 percent, in Seacem.
French-owned Lafarge Holdings (Phils.) Inc. owns
1,874,727,704 shares, or 29.07 percent. PCD Nominee
Corp. holds 731,746,328 shares, or 11.35 percent, for
Filipinos and 202,936,895 shares, or 0.15 percent, for
foreigners.
Seacem did not have a filing that could
have driven up the company’s price, according to PSE.
The company’s last two disclosures on the attendance of
the members of its board of directors and compliance
with the manual on corporate governance were posted on
the PSE web site on January 30 and 31, 2008.
In a filing in November 2007, Seacem
said it registered a net income of P264.523 million in
the first nine months of 2007, down from P286.558
million in the same period in 2006. These profits
reduced the company’s deficit as of September 30, 2007
to P4,807,523,000.
EEI Corp., another stock from the
market’s construction sector, also made a good showing
last week, though not the best since January 2008. It
closed on Friday at P3.45 on value turnover of
P20,671,900. The company hit P4.05 on December 27, 2007
and a low of P2.34 on January 30, 2008.
The PSE web site showed EEI’s last
filing reported the acquisition by Rizalino S. Navarro,
chairman of the board, of 650,000 EEI shares. As of
February 6, 2008, he owned 1,113,448 EEI shares.
House of Investments has also been
buying EEI shares. Its acquisition of 100,000 shares on
December 4 and 5, 2008 increased its holdings in EEI to
488,530,930 shares, or 47.15 percent.
EEI, the construction unit of the group
of companies controlled by the Yuchengco family, has
long returned to profitability after incurring huge
unreported losses in the early 1980s.
In the first nine months of 2007, EEI
reported consolidated net income of P206.790 million, up
99.525 percent from P103.641 million in the same period
in 2006. With this profitability, EEI said its retained
earnings amounted to P705.059 million as of
September 30, 2007.
Export and Industry Bank was the week’s
third-biggest winner as its B shares piled up gains
equivalent to 27.27 percent. EIB closed on Friday at
P0.42.
EIB listed its B shares on January 18,
2008, when it opened at P0.36, hit a high of P0.37,
dropped to a low of P0.36 and closed at P0.37. The
company’s A and B shares carry par value of P0.25.
With one of its big stockholders
unloading some of its holdings, A. Brown Co. was the
market’s third worst performer last week when it lost
14.46 percent. It closed the week at P3.55 on value
turnover of P26,400,650.
A filing posted on the PSE web site on
February 7, 2008,
showed the sale by Philippine Realty and Holdings Corp.
of 3.539 million A. Brown shares, which reduced
Philrealty’s holdings to 141.465 million shares.
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