PSE Circular for Brokers No. 3048-99
PSE Circular for Brokers No. 3048-99 • Philippine Stock Exchange • Circulars for Brokers • Dec 1, 1999
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December 1, 1999 PSE CIRCULAR FOR BROKERS NO. 3048-99 November 29, 1999 Ms. Grace B. De Guia Asst. Manager Disclosure Department Philippine Stock Exchange, Inc. 4/F, PSE Centre, Exchange Road Ortigas Center, Pasig City Dear Ms. De Guia: This is in response to your request for clarification on the Business World news article "Metro Pacific to Divest Some Units by Next Years". Please be informed that the divestment of Metro Pacific Corporation this year, particularly Metro Bottled Water Corp. and Metrolab Industries, Inc. have been in line with efforts to focus the company's businesses on property. With respect to our existing non-core assets, there are no definite plans for further divestments as such activities tend to be highly opportunistic in nature PDCP Bank and Negros Navigation Company are both in the state of rehabilitation. With respect to the listing of Fort Bonifacio Development Corporation, plans are likewise indefinite as stock market conditions and the property sector both remain very weak, and there are no pressures for the company to go public any time soon. cdlex Should you have any further inquiries, please do not hesitate to call or write us. prcd Thank you very much. (SGD.) CORAZON P. GUIDOTE Group Vice President Corporate Communication and Investor Relations
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