Quick takes from around the market
Boulevard Holdings [BHI 0.06 susp] [link] will resume trading at 10:30am today, nearly 7 months after it was suspended for its continued failure to submit financial reports on time. The PSE agreed to lift the suspension after BHI dumped 3 quarterly reports and its FY21 annual report on the EDGE disclosure server. This isn’t the first time that BHI has been in trouble for timely reporting. IMO, there’s no place for repeat offenders of this most basic corporate responsibility.
Monde Nissin [MONDE 13.90 3.73%] [link] will have 2% of its shares exit 365-day lockup on Monday. 2% doesn’t sound like a lot, but at 381 million shares, that’s actually about a full 50 days of MONDE’s average trading volume. The stake is owned by AU Mountain Investments Corp, which StockBytes PH reports is part of the Kweefanus Family group. It’s worth watching closely; with these smaller stakes that don’t have a material impact on control, you never know if someone is looking to cash-out.
Semirara Mining and Power [SCC 27.25 0.91%] [link] completed the “rehab” of the largest open-pit mine in the country (approximately the size of NAIA). SCC reported spending 11.5 million man-hours to dump 452 million cubic meters of earth back into the mine to close the mine and “repair the land”. The mine generated ?0.8 billion in royalties per year of its 16-year life, split between various levels of government. SCC then spent the next 6 years dumping earth to close the mine. SCC completed the job 4 years ahead of schedule.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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