ICT expects to spend $120-$150 Mil to acquire majority control (35-55%) over Pakistan International Container Limited (PICT). PICT, a company that is listed in the Karachi Stock Exchange, is a container cargo terminal located at the Karachi Port in Pakistan. It has a maximum handling capacity of 750,000 twenty-foot equivalent container units (TEUs).
- Puregold profit rises 24.5% in 1Q12 (Philstar)
Puregold Price club grew net income by 24.5% to Php469 Mil in 1Q2012, as net sales rose 30.3% to Php10.74 Bil. As of 1Q2012, Puregold had a total branch network of 101, comprising 62 hypermarkets, 28 supermarkets and 11 discounters. 34 stores opened in the last 4 quarters accounted for 17.7% of total net sales for the period under review.
- RFM Inks deal with Dole (Philstar)
RFM Corp has inked an agreement with Dole Philippines to exclusively distribute its processed fruit products. Among Dole products to be distributed by RFM are pineapple slices, chunks, and tidbits, fruit cocktail, fruit mix and juices, mixed fruit drinks, fruits in jars and bowls and tomato sauce products.
- SM expects to close Ortigas deal in 1H (Philstar)
SM is in talks with the Ortigas family and HSBC, the single biggest shareholder in OCLP Holdings with a 34% stake in the 16 hectare Greenhills Shopping complex, to finalize the deal to take over the property holding firm in the first half this year.