Saturday, March 23, 2013

in the news: agi, smc (23 mar 2013)

Alliance Global snapped out of its four-day, 12.5% losing streak. Deutsche Bank upgraded its rating on the firm from "hold" to "buy" and raised its target price by 35% to P23.20, citing a strong growth trajectory and higher earnings estimates for the recommendation.

Posted at 03/22/2013 6:01 PM | Updated as of 03/22/2013 6:01 PM

Ramon Ang's media venture
San Miguel president Ramon S. Ang's extensive business dealings really does extend to the mass media as well.

The rumored secret partner of brothers Wilson and Wiliam Tieng in Solar TV does have the proper corporate vehicle for such a venture, called Tri-Star Radio Television Network Inc.

Incorporated in October 2011, Tri-Star is still a shelf company wholly-owned by the San Miguel Corp, with RSA as the chairman/president and San Miguel senior executive Joseph Pineda as treasurer.

"Its primary purpose is to engage in the business of radio and television broadcasting; to carry on a recording, film production and other information and entertainment business...," said the Tri-Star blurb.
History buffs and people of a certain age may recall that San Miguel had also ventured into the newspaper and radio business during the post-World War II years under the stewardship of the charismatic chairman Col. Andres Soriano.

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