Tag Archives: Philippine

Philippine equity capital raising might reach $4 bln next year -bourse

MANILA Dec 11 Philippine companies could improve equity capital raising on the local stock exchange to 200 billion pesos ($ four.two billion), the head of the country’s bourse stated, adding that eight to 10 firms were probably to pursue a listing.

Market place volatility has taken its toll on listings this year with home firm D.M. Wenceslao and Associates Inc delaying a $ 150-200 million IPO and homebuilder and contractor Datem Inc postponing an offering of up to $ 75 million.

Equity fundraising via the bourse, via either listings or secondary share offerings, has so far come to 184.6 billion pesos, exchange information showed.

A figure above 200 billion pesos subsequent year would mark the highest level considering that 2012 when a record 219 billion pesos was raised.

“Possibly about 200 billion pesos is a great target,” Philippine Stock Exchange CEO Hans Sicat told Reuters late on Thursday.

Investors are expected to be cautious till presidential and regional elections in Could are over and clear policies are revealed by the new administration.

Right after a sturdy six-year run, the Philippines benchmark index has fallen 6.7 % so far this year as foreign investors exit emerging markets ahead of an expected U.S. rate hike.

But the decline has not been as steep as some other Southeast Asian nations with Thailand’s principal index falling 13.7 percent and Indonesia’s benchmark index tumbling 15.two %. ($ 1 = 47.2250 Philippine pesos) (Reporting by Neil Jerome Morales Editing by Edwina Gibbs)

Philippine crime-fighting mayor tops opinion polls for president

MANILA A challenging-speaking, seven-term mayor, who has constructed a reputation for fighting crime in the insurgency-plagued southern Philippines, has become favorite to succeed President Benigno Aquino in May possibly elections, an opinion poll showed on Monday.

Rodrigo Duterte, 70, mayor of Davao City, was the top-rated contender for 38 percent of 1,200 respondents, the Social Weather Stations poll stated.

Senator Grace Poe, who topped surveys in June and September, slid down to second spot with 21 percent in a tie with Vice President Jejomar Binay, who led opinion polls early this year. Poe had 26 percent support in September and Binay had 24 %.

Poe final week was barred for operating because she fails to meet the 10-year residency requirement but she is hopeful that choice will be reversed on appeal.

The elections will be closely watched by investors, who fear the political succession in one particular of Asia’s fastest-developing economies could derail gains produced in the course of Aquino’s rule.

Below Aquino, the Philippines has observed annual financial growth of much more than six % on average, its ideal 5-year record in four decades. He has also battled to rein in corruption.

About 54 million Filipinos are eligible to vote to decide on a president, vice president and much more than 18,000 regional government executives and lawmakers in the common elections, which occur every single six years.

Aquino’s chosen successor, former interior minister Manuel “Mar” Roxas, was fourth in the poll, falling from 20 percent support in September to 15 %.

Political analysts stated the rise in support for Duterte could be attributed to his anti-crime crusade. As mayor, Duterte has turned about the reputation of Davao, as soon as 1 of the most crime-plagued cities in the country.

(Reporting By Manuel Mogato Editing by Nick Macfie)

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