{"id":330666,"date":"2024-11-29T07:50:31","date_gmt":"2024-11-28T23:50:31","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330666"},"modified":"2024-11-29T07:50:33","modified_gmt":"2024-11-28T23:50:33","slug":"trade-the-news-chp-sells-stake-in-swiss-based-unit","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-chp-sells-stake-in-swiss-based-unit\/","title":{"rendered":"Trade the News: CHP sells stake in Swiss-based unit"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Aboitiz Equity Ventures<\/td><\/tr>
Stock Code<\/strong><\/td>CHP<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Sell<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 1.45<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

CEMEX Holdings Philippines, Inc. (CHP) sold its entire stake in Swiss-based Cemex Asia Research AG (CAR) to Cemex Innovation Holding AG for $900,459 (P53 million) to streamline its business.<\/p>\n\n\n\n

CHP signed a share purchase agreement with Cemex Innovation on Nov. 26 involving the sale of 118,849 shares.<\/p>\n\n\n\n

\u201cCHP and its subsidiaries have secured access to trademarks and intangible assets sublicensed by CAR necessary for their operations independently from CAR,\u201d CHP said in a regulatory filing on Wednesday.<\/p>\n\n\n\n

\u201cCAR\u2019s functions as a subsidiary of CHP are no longer required by CHP and its subsidiaries,\u201d it added.<\/p>\n\n\n\n

Established in Switzerland, CAR is a foreign subsidiary of CHP.<\/p>\n\n\n\n

The company is the licensee under certain license agreements with Cemex and its subsidiaries for certain trademarks and intangible assets, which it sublicensed to CHP and its domestic subsidiaries.<\/p>\n\n\n\n

Cemex Innovation is an affiliate of Mexican operating and holding company Cemex S.A.B. de C.V.<\/p>\n\n\n\n

For the first nine months, CHP expanded its net loss by 131% to P2.87 billion on lower cement prices, higher financial expenses, and higher income tax expenses year over year.<\/p>\n\n\n\n

Revenue fell by 9.4% to P12.21 billion as a result of intense industry competition and lower cement prices.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330666","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330666"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330666\/revisions"}],"predecessor-version":[{"id":330668,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330666\/revisions\/330668"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}