Due Diligencer
BROKERS' PERFORMANCE. Deutsche Regis Partners Inc. started the year leading the top 20 performing brokers of the Philippine Stock Exchange in January, with 18 percent of the month's total value turnover of over P47 billion, P47,204,640,343 to be exact.
The next 10 in the list are Philippine Equity Regis Partners Inc., 7.23 percent; ATR-Kim Eng Securities Inc., 7.09 percent; Wealth Securities Inc., 6.73 percent; MacQuarie Securities Inc., 6.16 percent; CLSA Phils. Inc., 6.15 percent; UBS Securities Phils. Inc., 5.81 percent; ABN-Amro Asia Securities Phils. Inc., 4.17 percent; BPI Securities Corp., 3.50 percent; Abacus Securities Corp., 2.96 percent; J.P. Morgan Securities Phils. Inc., 2.79 percent.
The following round off the list: Asiasec Equities Inc., 2.01 percent; Lucky Securities Inc., 1.99 percent; SB Equities Inc., 1.87 percent; AB Capital Securities Inc., 1.08 percent; Belson Securities Inc., 0.98 percent; BA Securities Inc., 0.97 percent; Angping & Associates Securities Inc., 0.92 percent; Triton Securities Corp., 0.82 percent; and Papa Securities Corp., 0.79 percent.
NOMINATING INDEPENDENT DIRECTORS. Asian Terminals Inc. wants its stockholders to participate in nominating candidates for independent directors.
Such nomination by all stockholders is in accordance with the pertinent provisions of the company's by-laws, said lawyer Rodolfo G. Corvite Jr. "Any stockholder" can make the nomination, but said stockholder "should state clearly if a person is being nominated as an independent director," Corvite said.
FROM ONE BUSINESS TO ANOTHER. Formerly Island Oil Co. incorporated on December 10, 1959 and originally engaged in oil exploration, Island Information and Technology Inc. is turning to another venture that its stockholders hope would prove profitable-its stockholders have not received any dividend in the last three years.
As a technology company, Island Information has been facing stiff competition that it now wants to put up a container depot, a project approved by its stockholders during their annual meeting last year.
In a filing, the company said it would spend P111.90 million in buying the equipment needed to operate a container yard.
EQUITY UPDATE. As of January 2006, SM Investments Corp. owns 464,540,222 shares in Banco de Oro Universal Bank, or 49.441 percent of the bank's outstanding shares.
These holdings include those directly owned by Shoemart Inc., SM Development Corp. ad Primebridge Holdings Inc.
In a separate filing, BDO informed the Philippine Stock Exchange that UBS AG of Switzerland bought 408,00 Global Depositary receipts at $12.7 each. The GDRs, if exchanged for common shares, would translate to 8.16 million BDO shares, at 20 BDO shares for each GDR.
The disclosure said "the relevant transactions were traded on the London Stock Exchange via GDR stock offering on January 20, 2006."
With the GDRs, UBS AG now owns a total of 54,004,600 BDO shares, or 5.75 percent.
http://www.businessmirror.com.ph/2006/0216/16%20cos%20due.php
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