Posts Tagged ‘Asia’

The Richest Filipinos

Whom to do you think is the wealthiest pinoy as of today? In August 2009, Forbes Magazine released its list of The Philippines’ 40 Richest released this August 2009. Now, it’s time to check who these wealthiest Pinoy are! Let’s check the top 10 Richest Filipinos:

1. Henry Sy

Networth: $3.8 billion
Age: 84
Marital Status: Married, 6 children

Business: Investments in SM and Banco de Oro Unibank

2. Lucio Tan

Networth: $1.7 billion
Age: 75
Marital Status: Married, 6 children

Business: Fortune Tobacco, Asia Brewery, Philippine Airlines and Hong Kong properties

3. Jaime Zobel de Ayala

Networth: $1.2 billion
Age: 75
Marital Status: Married, 7 children

Business: Chairman emeritus of family’s Ayala Corp

4. Andrew Tan

Networth: $850 million
Age: 57
Marital Status: Married, 4 children

Business: Megaworld, Philippines’ McDonald’s franchise, Alliance Global Group

5. John Gokongwei

Networth: $720 million
Age: 82
Marital Status: Married, 6 children

Business: Shares of his conglomerate JG Summit, Robinsons retail department store operation

6. Tony Tan Caktiong

Networth: $710 million
Age: 59
Marital Status: Married, 3 children

Business: Jollibee Foods

7. Eduardo Cojuangco Jr.

Networth: $660 million
Age: 74
Marital Status: Married, 4 children

Business: Chief executive of Southeast Asia’s largest food and beverage conglomerate, San Miguel.

8. Enrique Razon

Networth: $620 million
Age: 49
Marital Status: Married, 2 children

Business: International Container Terminal Services, National Grid Corp. of the Philippines.

9. Manuel Villar

Networth: $530 million
Age: 59

Marital Status: Married, 3 children

Business: Vista Land & Lifescapes and Polar Property Holdings

10. George Ty

Networth: $515 million
Age: 76
Marital Status: Married, 5 children

Business: Metrobank

There you have the top 10 Richest/Wealthiest Filipino as of 2009! Do you dream to become one of them? Like a millionaire perhaps? Well, all we need to do is to ACT to be one.

If you want to read more, please visit, Pinoymoneytalk.com

Today’s Stock Buzz- August 15, 2009

Stocks down on profit-taking

Philippine stocks fell on Friday as investors cashed in on gains made a day earlier when shares soared following the US Federal Reserve’s upbeat assessment of the US economy.

Concerns over a bigger budget deficit in 2010 also triggered a selloff, analysts said.

The benchmark Philippine Stock Exchange index or PSEi lost 0.21%, or 6.05 points, to 2,850.01, while the all-shares index slipped 0.27% to 1,806.98. A total of 3.4 billion shares worth P2.69 billion changed hands. Decliners led advancers 55 to 46, while 57 shares did not move.

“The slight slide in the share prices today was brought about by profit-taking by investors following the recent market advance, [especially after Fed announced that the US, the world’s biggest economy, is stabilizing],” Grace C. Cerdenia, chief operating officer of online brokerage firm 2TradeAsia.com, said.

The Fed said Thursday that US economic activity was leveling out, allowing rates to remain at near zero for an “extended period.” That drove a rally in Asian markets that day, including the Philippines.

Ms. Cerdenia said investors unloaded their portfolios after economic managers raised the target budget shortfall to P233.4 billion for next year from P208.4 billion, as part of the government’s economic pump-priming efforts.

Justino B. Calaycay, Jr., analyst at Accord Capital Equities Corp., said investors bracing themselves for a slump in share prices during the traditional “ghost” month of August contributed to the price pullback.

Since investors normally stay on the sidelines in August, news pointing to a global economic recovery won’t help, he said.

“There is already a general consensus that we are not going into a recession, and this was already factored in by the investors,” Mr. Calaycay said.

Select industrial, as well as mining and oil issues, pulled down share prices, with the Manila Electric Co. weighing down on the market with an 8.61% loss.

Industrial stocks lost 2.59%, or 111.46 points, to 4,186.82, while mining and oil tumbled by 2.72% or 233.14 points.

GMA Network, Inc., Philex Mining Corp., First Gen Corp., class “A” shares of Lepanto Consolidated Mining Co., Vista Land and Lifescapes, Inc., Aboitiz Power Corp., and Globe Telecommunications Co. all pulled down the PSEi.

On the other hand, International Terminal Container Services Inc., which advanced by 6.49%, led upward movers among index stocks.

Other PSEi stocks that gained on Friday were Ayala Corp, Ayala Land, Inc., SM Prime Holdings, Manila Water Co., Rizal Commercial Banking Corp., Banco de Oro Unibank, Inc., Robinsons Land Corp., Jollibee Foods Corp., and SM Investments Corp.

Entry Credit: http://www.bworldonline.com