SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
MANILA, Philippines – The casino arm of the Philippines’ 3rd richest man will replace the property development unit of the country’s richest, Henry Sy Sr, in the benchmark index of the Philippine Stock Exchange (PSE).
In a disclosure on Thursday, February 28, the PSE said Bloomberry Resorts Corp. led by port tycoon Enrique will take over the slot of SM Development Corp (SMDC), a unit of the Sy group, in the PSE index that tracks the performance of the 30 most actively traded and most valuable listed firms.
The new composition of the PSEi will start on March 11. It was a result of the review of the trading performance of each stock in 2012.
Both Razon and Sy business groups have stakes in the upcoming Pagcor Entertainment City in Pasay City, touted to put the Philippines in the gambling map.
Razon’s Bloomberry will open Solaire in March, the first among the 4 groups granted the right to operate a gaming and resort operations in the sprawling complex. Solaire will feature an integrated casino and tourism-related development with high-end boutiques, restaurants and hotel rooms.
The Sy group is involved via Belle Corp, which will develop the property where its partner, Macau-based Melco Crown, will put up another complex.
Razon now has two companies in the index, including ports operator International Container Terminal Services, Inc. (ICTSI).
The Sys still have 4: Belle Corp, BDO Unibank, SM Investments Corp, and SM Prime Holdings Inc.
The companies that make it to the PSEi are at least 12% owned by the public, have the highest market capitalization, and rank among the top 50% in terms of daily traded value.
The index will be comprised of the following companies:
1. Abotitiz Equity Ventures, Inc.
2. Aboitiz Power Corporation
3. Alliance Global Group
4. Ayala Corporation
5. Ayala Land, Inc.
6. Bank of the Philippine Islands
7. BDO Unibank, Inc.
8. Belle Corporation
9. Bloomberry Resorts Corporation
10. DMCI Holdings, Inc.
11. Energy Development Corporation
12. First Gen Corporation
13. Globe Telecom, Inc.
14. International Container Terminal Services, Inc.
15. JG Summit Holdings, Inc.
16. Jollibee Foods Corp.
17. Manila Electric Company
18. Manila Water Company, Inc.
19. Megaworld Corporation
20. Metro Pacific Investments Corporation
21. Metropolitan Bank & Trust Company
22. Petron Corporation
23. Philex Mining Corporation
24. Philippine Long Distance Telephone Company
25. Robinson’s Land Corporation
26. San Miguel Corporation
27. Semirara Mining Corporation
28. SM Investments Corporation
29. SM Prime Holdings, Inc.
30. Universal Robina Corporation– Rappler.com
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.