Philippine stocks: Gainers, losers, market-moving news – September 2021

A survey found that a big majority of Philippine business leaders are not pleased with the government’s coronavirus vaccine rollout – a departure from optimistic sentiment often quoted when they’re asked individually.

PwC Philippines and the Management Association of the Philippines (MAP) found that 66% of the country’s chief executive officers are dissatisfied with the vaccination program.

Take a look at the survey results here.

Flag carrier Philippine Airlines (PAL) moved one step forward in its bankruptcy protection plea, as a court in the United States allowed it to access an initial $20 million in debtor-in-possession (DIP) financing.

The US Bankruptcy Court for the Southern District of New York on Thursday, September 9, allowed PAL to operate business as usual and borrow money for its Chapter 11 proceedings.

Read more.

Megaworld Corporation’s real estate investment trust MREIT lowered its initial public offering (IPO) price to P16.10 per share to attract more long-term investors, the company said on Friday, September 10.

MREIT’s final offer price is 26.8% lower than the P22 maximum price announced earlier.

More details here.

Dito Telecommunity plans to offer a wireless home broadband service later in 2021, on the back of its 5G network.

In a briefing with reporters on Thursday, September 9, Dito chief technology officer Rodolfo Santiago said the telco is conducting a user friendly test for the service.

More about Dito’s briefing here.

Century Pacific Food and RFM Corporation joined Forbes Asia’s Best Under a Billion List for 2021, which comprises 200 companies in Asia posting consistent growth with sales just under $1 billion.

Forbes noted that the two Filipino companies were selected from a list of 20,000 companies, as they were among the most resilient amid the coronavirus pandemic based on their financial performance.

Read more.