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ICTSI
surges 21 percent; Tanduay down on big net loss in first
three quarters Port operator International Container
Terminal Services Inc. (ICTSI) was among the biggest
winners in the last trading week of November as it hit a
session’s high of P48 on Thursday for a huge gain of
15.66 percent from P41.50 on November 26, 2007. It was
No. 4 in the list of gainers collated by the Philippine
Stock Exchange (PSE).
ICTSI is
among the year’s heavily traded stocks. As of last week,
the PSE said 747,608,181 ICTSI shares were traded on
value turnover of P21,555,190,568.
The PSE
monitor showed it hit a high of P48 on November 29, 2007
and a low of P37 on October 22, 2007. It recorded its
biggest trading volume of 4,720,400 shares with value of
P184,200,300 on November 23, 2007, when it closed at its
opening and session’s high of P38.50.
In the
first nine months of 2007, ICTSI reported a net income
of P1,671,531,000, up 27.086 percent, from P1,315,290 in
the same period in 2006. This profitability resulted
from revenues which went up 14.636 percent to
P10,901,035,000 from P8,802,653,000 in 2006.
ICTSI
paid P574.312 million dividend in the first three
quarters of 2007 and P379.655 million last year. As of
September 30, 2007, it still had retained earnings of
P9,705,259,000.
San
Miguel Corp. (SMC) made it to the list of last week’s
gainers. Its “A” and “B” shares were last traded at P50
and P50.50 respectively. In contrast, the “A” shares of
its subsidiary, San Miguel Purefoods Co. Inc., was last
week’s No. 1 loser when it traded during the session at
P40 on small volume of 100 shares.
SMC owns
70,259,064 PF shares, consisting of 47,071,120 “A”
shares and 23,187,944 “B” shares, or 99.830618 percent
of outstanding. In a filing, it said its food
manufacturing unit has 120 stockholders.
‘Unusual’ trading
But the
“unusual” trading belonged to Lodestar Investment and
Holdings Corp., which surged 50 percent on Thursday to
its session’s high of P10.50, its opening price, before
closing at P10.25, up 46.428 percent from P7 on
Wednesday.
Apparently, the stock has been rising since it resumed
trading actively on November 21, 2007, on the takeover
by a new group of investors—the Anggala-Gaisano
group—but who had not disclosed yet what they intend to
do with a company which reported a deficit of
P41,516,353 as of September 30, 2007.
See Due Diligencer, November 29, 2007
The
Anggala-Gaisano group’s tender offer failed to attract
Lodestar’s minority stockholders who own the remaining
2,273,357 LUHC shares with their offer to buy them out
at P2.50 per share, the same price it paid the company’s
majority stockholders. They now own 35,032,6343 LIHC
shares, which are equivalent to 93.91 percent of
outstanding shares.
Tanduay
Holdings Inc., which owns Tanduay Distillery Inc., was
among last week’s losers as the market continued to feel
the impact of the company’s huge loss in the fist nine
months. It traded at P5.20 during the session on
Thursday, the last trading day of the wee, Friday being
a legal holiday.
In a
filing, Tanduay told regulators that for the first time
in many years, it lost P171,084,507, which the liquor
maker incurred in the first three quarters of 2007. It
reported a net income of P597,939,544 in the same period
in 2006.
Tanduay
said it reported this loss despite gross profit of
P1,119,445,694, down from P1,289,963,240 in the same
period last year as its “general and administrative
expenses” more than doubled—or up 103.633 percent—to
P560,513,869 this year from P275,256,612 last year.
Despite
the loss, Tanduay still had retained earnings of
P1,068,424,415 as of September 30, 2007.
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