Bits and Snippets of the Philippines

Basic Reading of Global Filipinos

Posts Tagged ‘San Miguel

PAL Raises 17 Billion Pesos in Fresh Funds

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Philippine Airlines (PAL) is increasing its authorized capital stock worth 17 billion Pesos or 85 billion common shares which will be subscribed to by PAL Holdings. The latter is also increasing its authorized capital stock to 23 billion Pesos the help fund the expansion of the carrier and accommodate the entry of San Miguel Corporation.

“SMC is buying into PAL and affiliate budget carrier Air Philippines Corp. (AirPhil) through several layers of holding companies. This will lead to SMC’s acquisition of 49 percent of PAL’s publicly-listed parent firm PAL Holdings, which in turn will give it effective control of at least 40 percent of PAL,” as reported by Philippine Star.

Read more at PhilStar.com

Photo by fraginal at Flickr.com

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Written by Raffy Pekson II

June 28, 2012 at 6:13 pm

San Miguel Corporation to Buy Shares of Esso Malaysia, Local ExxonMobil Companies

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San Miguel Corporation, today’s conglomerate in the Philippines, is planning to acquire 65 percent of Esso Malaysia or 175.5 million shares from ExxonMobil International Holdings, including two local ExxonMobil companies, for more than 600 million USD. This acquisition adds to the portfolio of oil refining and marketing businesses outside the Philippines that San Miguel owns or has shares with.

Esso Malaysia has about 560 retail stations in Malaysia. Currently, San Miguel also owns 68 percent of Petron Corporation, the largest oil refining company in the Philippines.

Read more at The Star Online

Photo by nafim at Flickr.com

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Written by Raffy Pekson II

August 18, 2011 at 3:50 pm

San Miguel to Sell 1.63 Billion Dollars Worth of Shares

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Image by _gem_ at Flickr.com

One of the Philippines’ biggest companies San Miguel Corporation is set to sell 75 billion Pesos worth of shares to finance investments and acquisitions. The board of Southeast Asia’s largest food and beverage company has approved the sale of shares for at least 75 Pesos per share.

Source: MSN News

Written by Raffy Pekson II

July 27, 2010 at 4:12 pm

Pinoy “Farmville” for Overseas Filipino Workers (OFW)

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Maharlika Agro-Ventures Corp., a domestic poultry firm and contract grower for San Miguel Foods, Inc., has established a new company — North Star Poultry Equities, Inc. — for a “virtual poultry farming” project. North Star Poultry would be co-owned by overseas Filipino workers (OFWs). An overseas worker can invest at least P50,000 on the virtual poultry farm. Investors can monitor how their poultry operation is doing through a Web site that would be created specifically for the project.

Read more at Business World Online

Written by Raffy Pekson II

January 8, 2010 at 12:16 am

San Miguel To Spend $2 Billion in Acquisitions

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Philippine food and drinks giant San Miguel Corporation intends to spend about $2 billion in acquiring companies in various industries such as infrastructure projects and power plants. Such investments include tollway roads, power, oil, water and telecommunications.

Source: Bloomberg.com.

Written by Raffy Pekson II

September 1, 2009 at 5:04 pm