MANILA, Philippines – The peso exchange rate stands at P43.00 to the US dollar, the closing rate last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P43.025.

AGRINURTURE TAPS U.S. FIRM

Listed farm company AgriNurture Inc. (ANI) has tapped a US beverages company for the sale of its coconut-water products in the US, Canada, and Europe.

In a disclosure to the Philippine Stock Exchange, the firm said it has signed a five-year Manufacturing and Purchasing Agreement with All Market, Inc., a Delaware corporation engaged in the sale of non-carbonated beverages in the United States, Canada, and United Kingdom.

Under the Agreement, ANI will manufacture and supply All Market, Inc.’ coconut-water based products under the latter’s Vita Coco brand, a leading brand of coconut juice drink in the US. (JAL)

LOCAL MAZDA SALES UP 53%

Mazda Philippines reported that its first quarter sales went up 53 percent to 844 units compared to the same period last year.

Randy Krieger, Mazda Philippines president attributed its promising sales figures to the Mazda2 sub-compact, continued strength of the Mazda3, and the strong demand for their crossover SUVs – the Mazda CX-7 and the Mazda CX-9.

The Mazda2 sub-compact saw first-quarter sales of 241 units, while the Mazda3 remains to be the brand's best-selling nameplate since its 2004 introduction with 294 units. (BCM)

JOLLIVILLE UNIT GETS P276-M LOAN

Ormin Power Inc., a subsidiary of listed Jolliville Holdings Corporation, has signed and executed a loan agreement with Development Bank of the Philippines for P275.89 million.

In a disclosure to the Philippine Stock Exchange, the firm said proceeds of the loan will be used to partly finance the establishment of Ormin Power’s 6.4 megawatt power plant project in Calapan City, Oriental Mindoro. (JAL)

P.D.I.C. PAYS R.B. DEPOSITORS

The Philippine Deposit Insurance Corporation (PDIC) started claims servicing and payout for insured deposits with closed First Country Rural Bank (Pasig City), Inc.

The servicing of claims will run until April 12, 2011. The scheduled payout forms part of PDIC’s commitment to expedite the payment of all valid deposit insurance claims to First Country depositors.

PDIC advised depositors to observe the appointment date, which is based on the claim number indicated in the Claim Status Sheets. (EHL)