The stock was recently included in the Blue chip index together with Converge ICT. These two stocks replaced DMCI holdings and Emperador. Here is the link of the updated list of Blue chip stocks and those recently included in other indexes.

AC Energy first half income rose by 4.5% to Php2.7Billion.

ACEN recently announced also that it is committed to scale up its renewable energy power to reach 5,000MW by 2025. Recently it has approximately 12,000MW of projects on its pipeline.

AC Energy Corporation (PSE: ACEN) had also said that it achieved a consolidated net income of ₱2.7 billion for the first half of 2021, a 5 percent increase from ₱2.6billion in the previous year (restated). This includes the results of operations of the international power assets that have been recently infused by parent AC Energy and Infrastructure Corporation (ACEIC) into ACEN.

In its recent disclosure, ACEN and NEFIN had a joint venture to Offer Carbon Neutrality Solutions Across Asia.

On its disclosure;

“AC Energy Corporation (ACEN), through its wholly-owned subsidiary, AC Renewables International has obtained board approval  to enter into a joint venture with NEFIN Holding Limited (NEFIN), a leading solar photovoltaic developer and investor in carbon neutrality solutions. ACEN and NEFIN will establish a 50/50 joint venture holding company that will develop, construct, and operate rooftop solar projects across Asia”

“The joint venture will own 21 MW of operating assets and has a robust near-term project pipeline. NEFIN, as an expert in rooftop solar PV system engineering and management, has collectively delivered over 300 MW of utility-scale, commercial, and industrial solar PV systems for itself and its clients. Philippine-based power company, ACEN, has one of the highest renewables share capacities in Southeast Asia after pivoting to a lower carbon portfolio by developing more renewable energy projects, and a planned divestment of coal assets. ACEN’s aspiration is to be the largest listed renewables platform in Southeast Asia, and the company is on track to achieve its goal of reaching 5,000 MW of renewables capacity by 2025. The partnership between ACEN and NEFIN is a natural fit, with both businesses anchored on sustainability and with growing renewable energy capacity”

“ACRI’s investment into the joint venture vehicle will be via a primary infusion of an initial US$ 10 million of fresh funds which will be used to construct near-term projects over the coming years. ACRI will also commit to further expand its funding for the development and construction of the rest of the joint venture’s carbon neutrality pipeline”

Source: PSE Edge https://edge.pse.com.ph/openDiscViewer.do?edge_no=340a6cd162eb1e755d542af6f1e997b9

NEFIN Solar cells:

On technical charts, the stock move by 3.07% poised to retest resistance at 9.0 pesos.

The Blue chip stock Robinsons Land Corporation (RLC) posted a higher income as compared last year.

RLC has retained its Blue chip index position as released from yesterday rebalancing results from the Philippine stock Exchange. You can read our list of Blue chip stocks update article here.

On its disclosure RLC stated that;

“Robinsons Land has netted 2.56 Billion pesos in the second quarter exceeding last year’s performance by almost fourfold at 394% Despite unstable circumstances, RLC reported increasing customer activity and engagements in its malls, offices, hotels, industrials, as well as property development and residential services”

“For the first six months ended June 30, 2021, net income accelerated by 48% to end of 5.45 Billion. Consolidated revenues soared  by 55% to Php 26.0 Billion from P16.70 billion a year ago”

“The robust growth in the first half of 2021 is driven by the continued recovery of RLC’s core businesses, which posted a 51% surge in net income and the recorded earnings from its Chendu Ban Bian Jie project in china, as well as the sell of parcels of land within the Bridgetown Destination Estate”

Meanwhile the Securities and Exchange has approved listing of RLC REIT. The approval is together with Megaworld Corporation (MEG) subject to compliance with remaining requirements

According to SEC “The Securities and Exchange Commission has considered favorably the initial public offerings of real estate investment trusts sponsored by Robinsons Land Corporation and Megaworld Corporation,” it announced.

RLC has an offer price of up to 7.31 pesos per share with 3.32 billion common shares . It has an overallotment of 305.1Million shares. Once all shares are sold it will be able to raise P25.88B in net proceeds.

According to its disclosure the initial public offering (IPO) will start from August 31 to September 8, 2021. Listing date will be on September 20, 2021

MREIT, meanwhile, plans to offer 22 pesos per share price during its IPO and will sell up to 1 billion common shares. It has an  overalloment option of 161 million common shares, the offer could have as much as P26.3 billion.

During trading shares of RLC drop by -0.73% with 11.03Million net foreign selling