Business Newsbits: November 25, 2012

Anchor Land Holdings, Inc. (ALHI) reports a net income of P706.8 million for the first nine months, 26% higher than last year.

Ayala Corp. (AC) enters into an agreement with Ho Chi Minh City Infrastructure Investment JSC (CII) to jointly invest in Vinaphil Technical Infrastructure Investment JSC (VinaPhil), a corporation established under Vietnam law to invest in infrastructure projects in Vietnam. VinaPhil will be initially49%-owned by AC with the remainder by CII and other Vietnamese investors.

Bangko Sentral ng Pilipinas (BSP) has approved the purchase by Malaysia's CIMB Group of a controlling stake in the Bank of Commerce. San Miguel Corp. (SMC) owns the Bank of Commerce through San Miguel Properties, Inc., and SMC Retirement Funds.

Cebu Holdings, Inc. (CHI) declares a cash dividend of P0.10 per share to all outstanding shares of the company as of record date Dec. 7, 2012, payable on Dec. 21, 2012.

Cebu Property Ventures and Development (CPV) declares a cash dividend of P0.12 per share to all outstanding shares of the company as of record date Dec. 7, 2012, payable on Dec. 21. 2012.
Centro Escolar University (CEU) declares a cash dividend of P0.75 per share to stockholders as of record date of Dec. 17, 2012, payable on Jan. 15, 2012.

First Gen Corp. (FGEN) prepays its P3.75 billion 5-year loan facility obtained in May 2010.

Jollibee Foods Corp. (JFC) and EEI Corp. (EEI) receive business awards as outstanding Philippine companies that have contributed to regional economic growth during the 2012 ASEAN Business and Investment Summit in Phnom Penh, Cambodia.

Manila Broadcasting Co. (MBC) declares a cash dividend of P0.18 per share to stockholders as of record date Dec. 10, 2012, payable on Dec. 21, 2012.

Philex Mining Corp. (PX) will spend at least P1.06 billion for the rehabilitation and cleanup of Balog Creek and its convergence area with Agno River based on a rehabilitation plan it submitted to the DENR's Mines and Geosciences Bureau on Nov. 22, 2012. Philex's tailings pond at its Padcal Mine in Benguet was damaged after heavy rains in August 2012 and the mine operations have been suspended since.

Philippine Estates Corp. (PHES) announces a joint venture agreement with Ayala Land Inc. (ALI)'s Amaia Land Corp. to develop the company's real estate property located in Cavite into a residential/subdivision project.

Philippine National Bank (PNB) reports a net income of P3.8 billion for the first nine months, 92.5% higher than last year. In a related news, the Hong Kong Monetary Authority (HKMA) has given its approval for PNB to become a majority shareholder controller of Allied Banking Corp. (Hong Kong) Limited in relation to the merger between PNB and Allied Banking Corp.