Philippines News Archives

Friday, August 04, 2000

AC ( 08/04/2000 : PSE )
This is with reference to the report that appeared in today's issue of the Philippine Daily Inquirer entitled "Ayala Corp. defers sale of special shares". Apparently, the report was based on a letter they submitted to the SEC in support of the Company's last application for capital increase and 20% stock dividend. Ayala Corporation filed a withdrawal of the registration statement covering the issuance of the Common X shares as a requirement for the SEC to finally act and approve the said application. Furthermore, the SEC approved on 06 July 2000, the Company's increase in authorized capital stock from P17 B to P26 B (not to P20 B as reported).

- posted by StockMarket @ 11:51 PM

AC ( 08/04/2000 : BW )
Citing the prevailing slump in the local stock market, Ayala Corp. recently withdrew form the corporate regulator its pending registration statement covering the issuance of 75 M common X shares. In a letter to the Securities and Exchange Commission (SEC), Ayala Corp. managing director Renato O. Marzan sought the withdrawal of the said registration statement filed May last year. To allow a successful offering of the common X shares, Mr. Marzan said the conglomerate should wait for the market to improve. "Considering that the current state of the capital market is not receptive to a share offering, much less to an offering for a class of shares with the features of common X, the corporation decided to defer the said issuance to the future," he added. The new class of shares will have a par value of P10 and is intended to increase the price of Ayala shares since the common X shares will be offered for conversion. Having a par value 10 times greater than that of the common shares, the common X share dividends and preemptive rights will also be proportionately larger than the common shares. A common X share will carry the same vote as an existing common share. Earlier, an Ayala official disclosed that the proceeds from the X share offering will be used to finance the mergers of its banking arm Bank of the Philippine Islands with Far East Bank and Trust Co. and that of affiliate Ayala Insurance Holdings Corp. Part of the proceeds will also be spent for the expansion of Ayala Corp.'s telecommunications subsidiary, Globe Telecom GMCR, Inc. As of last year, the Ayala group's cash position stood at PhP15 B ($335 M). The consolidated net income of holding firm Ayala Corp. ranged from PhP5.1 B to PhP5.2 B. Aside from banking, insurance and telecommunications, Ayala Corp. is also involved in property development, water utility, and e-commerce, among others.
- posted by StockMarket @ 11:50 PM

Thursday, August 03, 2000

AC ( 08/03/2000 : AFX )
Ayala Corp has decided to defer a planned issue of common shares due to unfavourable market conditions, company managing director Renato Marzan said in a letter to the Securities and Exchange Commission. Ayala requested the withdrawal of a registration statement filed by the company in May 1999, covering the issue of 75 mln "X series" common shares which the company planned to issue after its shareholders approved an amendment to its articles of incorporation. The offer, with the shares carrying a par value of 10 pesos each or 10 times the par value of issued common shares, was approved by shareholders early in 1999. Marzan said the company had decided to defer the planned issue until market conditions improve. Ayala Corp closed up 0.10 pesos at 6.60.
- posted by StockMarket @ 11:49 PM

Wednesday, August 02, 2000

AC ( 08/02/2000 : STAR )
Ayala Corp. has forged an agreement with Internet Initiative Japan Inc. (IIJ) to jointly establish a multi-million peso Internet Data Center in Makati City by September this year. To be called Ayala Port Makati, the 40,000-square meter facility will provide comprehensive Internet services such as Internet connectivity, server hosting and housing, and systems integration. More centers will be set up in other parts of the country as the need arises. IIJ, which was one of the four foreign firms interested in the undertaking, is Japan's leading Internet-access and comprehensive solution provider and has built one of the largest Internet backbone networks in Japan as well as betweenJapan and the US. Details of the definitive agreement between Ayala Corp. and IIJ are expected to be completed next month. iAyala Company and ALINet.com, Inc., the Internet investment arms of Ayala are also set to take up stakes in the project. "AyalaPort is expected to stimulate e-commerce and related activities on the web in the Philippines. This is one pro-active way of connecting the country to the global information economy," said Jaime Augusto Zobel de Ayala, president and chief executive officer of Ayala Corp. IDCs are the latest state-of-the-art facilities booming around the world with an estimated 60 such centers to become operational in Asia between now and 2001. Without disclosing any figure, iAyala executive director Jack Madrid said that Ayala Corp. will not spend as much as its archrival Philippine Long Distance Telephone Co. (PLDT) since they already possess prime properties which can be sued for the center. PLDT earlier said that of the P1.6 B spent for its IDC, P641 M went to hardware and support systems while the rest of the amount went to land acquisition and the building. Madrid said that Ayala's IDC will primarily cater to the requirements of the conglomerate's diversed business even as the company is also looking at attracting customers from neighboring countries and the rest of the world.
- posted by StockMarket @ 11:49 PM

Tuesday, August 01, 2000

AC ( 08/01/2000 : PSE )
Please be informed that Ayala Corporation has forged an agreement with Internet Initiative Japan Inc. (IIJ) to jointly establish an Internet data center in Makati. The data center, to be called AyalaPort Makati, will provide comprehensive internet services consisting of Internet connectivity, server hosting and housing, and systems integration. iAyala Company and ALINet.Com, the Internet investment arms of Ayala are also expected to take up stakes in the Internet data center project. The details of the definitive agreement between Ayala and IIJ are expected to be completed this September 2000. IIJ is listed in the NASDAQ and is Japan's leading Internet-access and comprehensive solution provider. IIJ has built one of the largest Internet backbone networks in Japan, as well as between Japan and the United States.
- posted by StockMarket @ 11:48 PM

AC ( 08/01/2000 : AFX )
Ayala Corp said it has forged an agreement with Internet Initiative Japan Inc to jointly establish an internet data centre in the Makati business district. In a notice to the stock exchange, Ayala said the data centre, to be called Ayalaport Makati, will provide comprehensive internet services. It said the details of the agreement are expected to be finalised next month.
- posted by StockMarket @ 11:48 PM

Monday, July 31, 2000

AC ( 07/31/2000 : AFX )
Internet Initiative Japan Inc will tie up with the Ayala group to develop e-commerce data centers in the Philippines, the Nihon Keizai Shimbun reported. Under the plan, the two will set up a local joint venture by late 2000 at the earliest, with IIJ supplying a team of engineers and providing line operation and security technology, it said. Beginning from May, the partners will provide Internet access to corporate customers as well as handle operations and maintenance of supercomputers used to handle business-to-business orders, it said. The new company is tentatively called Ayala Makati, according to the report. Ayala will hold a majority stake in the firm and nominate its president, although capitalization levels have yet to be determined, it said. IIJ will also tie up with Samsung group to enter the data center business in South Korea later this year, the report said.
- posted by StockMarket @ 11:47 PM

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