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SkyBroadband internet trial review

After more than a month of posting hibernation, I’m finally back online. I recently moved to a condo at The Fort and, although I have already applied for an internet connection weeks ago, until now PLDT has not contacted me for an update. I followed up my application two weeks ago and PLDT told me my internet application is still being processed. If their slow processing is an indication of how slow my internet connection will be, then I think I’m better off looking for a new internet service provider.

Catholic Church sold Philex shares to Manny Pangilinan?

Did the Roman Catholic Archbishop of Manila unload more than 1 million shares of Philex Mining Corporation (PX) in April and May 2011 and sold them directly to Chairman and CEO Manny V. Pangilinan (MVP)?

Documents from the Philippine Stock Exchange (PSE) seem to show that they did. A cursory look at the latest list of the Top 100 stockholders of Philex confirms that the Catholic Archbishop of Manila is not anymore a major stockholder of the company and that MVP has replaced the Church’s spot as the top 15th shareholder.

Is PLDT owned by foreigners?

The recent Supreme Court ruling ordering the Securities and Exchange Commission (SEC) to look into the extent of foreign ownership in PLDT raises a very important question: Did the telecommunications giant violate the Philippine Constitution with regard to the maximum 40% foreign equity rule?

In layman’s terms, the Supreme Court is basically asking the SEC: is PLDT owned by Filipinos or by foreigners?

Catholic Church has billions invested in BPI, Philex, San Miguel

For most of us, it’s a given that the Catholic Church is rich. Obvious proof of that are their sprawling acres of land, large Church-owned structures and buildings, and millions of pesos of cash collected from mass goers every week.

What a lot of people do not know, though, is that part of the Church’s wealth is its multi-billion peso investments in several Philippine companies. In fact, reports submitted to the Philippine Stock Exchange (PSE) show that the Church and affiliate Catholic groups are top stockholders in companies such as the Bank of the Philippine Islands (BPI), Philex Mining Corporation (PX), San Miguel Corporation (SMC), Ayala Corporation (AC), and Phinma Corporation (PHN), among others.

Philippine Church invested in banks, mining, construction, etc.

The Roman Catholic Archbishop of Manila, for example, owns more than 300 million shares of BPI and is the bank’s 4th largest owner.

How much are these shares worth? As of May 2011, this is valued at more than P17 billion. Yes, that’s seventeen billion pesos, with a B.

PLDT-Digitel deal hikes PSE index by 3%

Finally it happened. The Philippine Stock Exchange index (PSEi) received a much-needed boost yesterday, thanks to the news of PLDT acquiring a majority stake in Digitel.

Since the start of the year, the PSEi has been averaging a downside of 10%. Yesterday, the index jumped 2.98%, up 116.51 points to close at 4,023.74.

The market rally was led by PLDT (stock code: TEL) which gained 15.72% in one day, closing at P2,356. TEL was also yesterday’s most actively traded and top gainer stock.

Philex (PX) bidding war: Manny Pangilinan vs. Ramon Ang

Another bidding war is supposedly in the making between the two groups allegedly responsible for the 275% increase in the price of Meralco (MER) during the last 7 months.

The latest battlefront: Philex Mining Corporation (Stock Code: PX).

Impact of Stock Dividend: Huge decrease in price!

Earlier this morning, I panicked after logging in to my BPITrade online trading account because one of my holdings, Philex Mining Corporation (Stock Code: PX) was trading at only P7.50 per share.

You can’t blame me. Only yesterday, the stock was trading at P9.40 and a P7.50 market price means a steep one-day decline of 20% (read: WTF! I’m losing a lot of money in just one day!).

My PX shares at P8.80

At P7.50, I stand to lose money because I originally bought PX shares at P8.80.

I scoured local news websites for any update on what caused Philex’s price to drop. I found nothing. Is this the end of my trading account? Should I just accept the fact that I lost a lot of money in this stock?