April 26, 2012- Morning Linkfest

  • SMDC 1Q2012 Profit rises 33% (PSE)


  • SMDC reports a 59% increase in value of pre-sold units worth Php8.97 Bil for the 1Q2012, double the company’s sales target for the quarter.  Consolidated revenues went up 72% to Php5.83 Bil.  Consolidated net income up 33% to Php1.21 Bil, while EBITDA grew 38% to Php1.49 Bil for an EBITDA margin of 27%.


  • Forum Energy releases seismic results and interprets data (Atok, Philex Petroleum)  (PSE, Philstar, Inquirer)


  • The Weatherford report provides that (1) the best case estimated contingent oil in place is 65 million barrels, and the best case prospective oil in place is 220 million barrels, and (2) the best case estimated contingent gas in place is 2.6 trillion cubic feet and the best case estimated prospective gas in place is 8.8 trillion cubic feet.  This indicates that SC72 has potentially larger sources than the Malampaya project.   Philex Petroleum holds a 64.45% direct and indirect stake in Forum Energy while Atok Big Wedge owns around 26% through Tidemark Holdings Ltd.


  • Bloomberry sets indicative price for equity offer (Philstar)


  • Bloombery has set an indicative price range of P6.55 to P8.25 each share for its planned equity offering.  The issuance of shares will be done via a top-up offering aimed at boosting the company’s public ownership which currently stands at 8.82%.  CLSA and UBS were tapped as joint global coordinator, joint bookrunner and joint lead managers for the placing transaction.  Proceeds from the offering will be used to fund the company’s $1.2-bil resort and gaming complex targeted to open by 1Q2013.


  • Belle Corp reports P52.5 M in 1Q profits (Inquirer)


  • Belle Corp grew 1Q2012 profits by 4.9% to P52.47 Mil mainly on higher interest income, forex gains and equity in net earnings of associates.  Revenues declined by 51.5% to Php96.94 Mil due to a decline in the sale of real estate and club shares.




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