Stock Price of SCC have dropped by as much as 15% coming from a peak of 36 pesos per share. The drop coincided with the news regarding easing prices of global coal products and recent correction of DMC holdings after it was recently included in the BLUE chip index
SCC and DMC recently disclosed as well that it retain its Bloomberg gender equality index.
DMCI Holdings, SMPC named to Bloomberg Gender-Equality Index for third straight year
DMCI Holdings (PSE: DMC) and Semirara Mining and Power Corporation (PSE: SCC) are members of the 2023 Bloomberg Gender-Equality Index (GEI). This is the third consecutive year that the two companies earned spots in the prestigious list.
Bloomberg GEI is a modified market capitalization-weighted index that aims to track the performance of public companies committed to transparency in gender-data reporting.
GEI measures gender equality across five pillars: leadership & talent pipeline, equal pay & gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand.
“Diversity and representation matter. When different voices and perspectives are included in the conversation, companies benefit from a wider range of ideas and insights,” said DMCI Holdings and SMPC chairman Isidro A. Consunji.
Only four listed companies in the Philippines joined the 2023 GEI roster that includes 484 companies headquartered in 45 countries and regions.
SCC current stock price as of this writing is 31.45 pesos per share.
A substantial investment was disclosed by Metro Pacific Investments (PSE:MPI) to Axelum (PSE: AXLM).
This is a large amount of stake as it is one third of the existing market cap of AXLM. Total value of MPI stake to Axelum is Php 5.32 Billion.
MPI is expected to pay 4.05 pesos per share for AXLM 1.119 Billion shares.
Below is the disclosure made in PSE Edge yesterday.
Metro Pacific Investments Corporation (“MPIC”), the country’s leading infrastructure investments company, branches into another agri venture, with its wholly owned subsidiary, Metro Pacific Agro Ventures Inc. (MPAV), acquiring 34.76% ownership in Axelum Resources Corporation (“ARC” or the “Company”) for PHP5.32 billion.
ARC is the leading manufacturer and exporter globally of high-quality coconut products, and one of the major suppliers of Vita Coco, the global market leader in coconut water. The company is also a major exporter of desiccated coconut, coconut milk/cream, coconut cooking oil, and other coconut products.
The acquisition buttresses MPIC’s promise in becoming a serious player in the agricultural field, following its investment in the dairy sector last year.
“The north star of our agriculture business is helping our country achieve food security,” says
MPIC Chairman, President, and CEO Manuel V. Pangilinan. “This investment into ARC will mean
more income opportunities for coconut farmers, as well as a broader landscape for Philippine
agriculture.”
Capitalizing on the Coconut Industry
With its global presence, ARC’s products are sold in both the domestic and international markets, supplying to food and beverage companies, confectioneries, bakeries, supermarkets and grocery store chains, and other establishments around the world. They are widely distributed in the United States, Canada, Australia, New Zealand, Eastern Europe, Middle East, Japan, and some countries in Asia.
ARC Chairman and CEO Romeo I. Chan states, “Through this partnership, we aim to achieve our life-long vision of further developing and transforming the Philippine coconut industry. We proudly welcome our new partners, MPAV and the entire MPIC organization, and we thank them for sharing the same values and ambition to advance the coconut industry by synergizing our resources and expertise.”
“More importantly, this puts us in a strong position to help uplift the marginalized coconut farming communities in our country and contribute to the continuous development of the agricultural sector,” Chan added.
Augmenting ARC’s focus on export, MPAV aims to nurture a higher level of patronage of these products by local consumers.
“The Philippines enjoys global renown for its coconut products. Axelum has had an impressive history—having helped establish the country as the world’s leading producer of high-quality coconut products.” says MPAV President and CEO Jovy Hernandez. “We at MPAV are eager to work with Axelum not only to strengthen their international business but also to develop the domestic market and support our local coconut farmers.”
MPIC, through MPAV, continues to look for other opportunities in the agricultural sector, while aiming to achieve a wider presence in the dairy industry.
This venture in agribusiness affirms MPIC’s resolve to be the largest catalyst for a Sustainable Philippines to achieve food security and ultimately food independence. It is also aligned with the efforts of both MPIC and ARC to contribute to the United Nations Sustainable Development Goals (UN SDGs), particularly Goal 2: End hunger, achieve food security, improve nutrition and promote sustainable agriculture.
MPIC is a leading Philippine company with investments in power, toll roads, water, transportation, healthcare and real estate while Axelum is present in over 30 export markets, with an extensive coconut portfolio ranging from coconut milk and desiccated coconut, to coconut water and coconut cream, under the homegrown labels Fiesta, Fiesta Tropicale, Red V and Romantika. In addition, Axelum is a top strategic supplier to Vita Coco, the world’s largest and most popular coconut water drink. For 2022, Axelum is on-pace to post record earnings driven by robust global demand and strength of the dollar.
