Benpres Holdings Corp. yesterday said it has sold it
18 percent stake in Professional Services, Inc., owner and operator of
The Medical City hospital, to an affiliate of Lombard Asia III for P600
million. Lombard is a leading international private equity investment
manager with offices in Bangkok, Hong Kong and San Francisco. Lombard
was formed in 1985 and has made more than 75 controlling and significant
minority investments in Asia and North America.
PSE closes slightly down
The Philippine Stock Exchange yesterday shed 4.52
points or 0.16 percent, to close at 2,749.77. Trading reached P2.74
billion. Most actively traded Philippine Long Distance Telephone Co. (PLDT)
was up P40 to P2, 565. Manila Electric Co. (Meralco) was up PP1 to P81.
Ayala Corp. was down P2.50 to P297.50. Unit Ayala Land, Inc. was steady
at P9.80. Globe Telecoms, Inc. was down P45 to P1, 360. Alliance Global,
Inc. (AGI) was steady at P3.90. Philippine National Oil Co. Energy Dev’t.
(PNOC-EDC) was down P0.20 to P5.20. Robinsons Land, Corp. was up P0.50
to P10.75. Metrobank was steady at P35.
Filinvest sees 25% growth
Filinvest Land, Inc., (FLI) is confident that continued focus on the
affordable and middle-income market in the local real estate market and
focusing on other OFW-rich areas outside the US will help the company
post a 25 percent growth on its bottomline for the year. FLI president
Joseph M. Yap yesterday expressed confidence that the "real demand" for
end-user units from this sector will aid the company steer clear of a
slowdown in the overall real estate market as an after-effect of the US
economy’s own slowdown.
