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Millennium Global acquires 51% stake in seafood trader
January 13, 2014

Written by Roderick L. Abad Business Mirror MILLENNIUM Global Holdings Inc. (MGHI) now owns the controlling stake in Millennium Ocean Star Corp. (MOSC) for P137.9 million, pursuant to the company’s plan to expand investments and business operations. Both parties signed over the weekend a subscription agreement for the acquisition of 51-percent equity in MOSC. As per the transaction MGHI subscribed to 137,908,163 primary common shares of MOSC at a par value of P1. With the acquisition, MGHI Corporate Secretary, Information and Compliance Officer Lyra Gracia Lipae-Fabelle told the BusinessMirror on Monday that “given [MOSC’s] promising revenue stream, it will be a good acquisition... <see more>

MGHI wants to broaden portfolio
November 13, 2013

Written by Roderick L. Abad - Business Mirror LISTED Millennium Global Holdings Inc. (MGHI) is planning a major investment push. In a disclosure on Wednesday with the Philippine Stock Exchange, the company said it wants to broaden its investment portfolio as a general holding firm, resulting in “significant opportunities for business growth and enhancing shareholder value.” MGHI is eyeing a combination of issuance of primary shares, sale of secondary shares, debt financing or other means seen fitted to raise funds for the planned investment or acquisition. The company’s board of directors granted Chairman/President and Chief Executive Officer Michael Yang the authority to sign negotiations... <see more>

PSEi, peso gain on Feds move retaining QE
September 19, 2013

Written by Roderick L. Abad and Bianca Cuaresma - Business Mirror The deferment of the tapering of the US bond purchases boosted investors’ confidence, allowing the benchmark Philippine Stock Exchange index (PSEi) to gain 177.74 points, or 2.81 percent, to 6,551.700 at the end of Thursday’s trading session. All the other subindices also performed well. “I expect gains across the board for [the] Philippine stocks,” AB Capital Securities Inc. equity analyst Gregg Adrian R. Ilag said, attributing it to the United States Federal Reserves’ decision not to end its stimulus program. At the conclusion of the two-day crucial policy meeting of Federal Open Market... <see more>

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