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October, 2008 Exchange extends IPVG trading halt pending talks with investors
THE PHILIPPINE Stock Exchange has extended the trading suspension on shares of information technology (IT) firm IPVG Corp. pending negotiations between the listed firm and potential investors.
The bourse heeded the company’s request to extend the suspension until a deal with the investors is reached.
IPVG officials have imposed a news blackout, declining to comment on the status of the talks.
Last week, the company volunteered to have the trading of its stocks suspended to avoid price movements based on misinformation and "undue speculation" about the negotiations.
IPVG earlier said the two major investors are under other jurisdictions, and asked that the transactions stay confidential since one of the investors is listed.
The seven-day suspension ended yesterday. IPVG earlier said rumors surrounding the transactions have started circulating.
It also said it could not provide any details given the confidentiality of the negotiations.
IPVG ended the first half with net profits of P50.51 million and net sales of P1.79 billion.
Its business process out-sourcing (BPO) operations delivered P1.07 billion sales in the first half, making up 60% of the total.
The company earlier said it was bullish about profits this year, as investments in the outsourcing industry start bearing fruit in the second half.
IPVG is targeting P3.3 billion in sales this year, almost four times higher than last year.
IPVG mainly provides IT ser-vices to other telecommunication providers and the corporate enterprise sector.
Its services include data center capacity, network systems and E-mail backup, network security disaster recovery, remote access and Internet telephony.
IPVG owns three subsidiaries in the information technology and telecommunications, online gaming and BPO sectors.
Early this year, it bought five companies in the BPO and online gaming industries for P1.35 billion.
One of these was Prolexic Technologies Inc., a US-based managed security service provider of distributed denial of service mitigation solutions.
It said the acquisition represented its road map of growing the company in key areas of the Internet Protocol domain and global markets.
IPVG reaches its customers by collaborating with international corporations that have proven to be market leaders in their respective markets and industries.
Its partners include Fortune 1,000 companies listed on the New York Stock Exchange like PCCW.
Pairing each of IPVG’s business subsidiaries with strategic partners, has allowed the company to offer products and proprietary business knowledge to the Philippine market, speeding up market penetration and increasing sales.
IPVG shares closed at P1.20 apiece before trading was suspended a week ago. — KJRL
By Zinnia B. Dela Peña
The trading suspension in IPVG Corp. shares is set to be extended upon the request of the information technology and gaming firm pending completion of negotiations with possible investors.
“Due to the continuance of our negotiations with third parties, we write to request for an extension of our voluntary suspension until said negotiations and contemplated transactions have concluded,” IPVG said in its letter to the Philippine Stock Exchange dated Oct. 29.
The trading halt, implemented on Oct. 21, 2008, was supposed to last until Oct. 29.
IPVG said the suspension is intended to avoid any misinformation and undue speculation while a deal is being worked out.
IPVG likewise disclosed tthat its board of directors decided to amend the purchase price of the subscription to the proposed increase in authorized capital stock of the company from P3 each share to P1 apiece.
In addition, the company’s board revised the terms of the issuance of up to 38 million IPVG shares to employees and/or its subsidiaries or to a company formed by such employees by authorizing the change in purchase price from P3 to P1 each share.
IPVG has received proposals from two possible major investors who were not identified. The potential investor may take up a significant stake in IPVG, entitling it to a board seat.
In the six months ending June this year, IPVG posted a net profit of P50.51 million or an increase of 16 percent over the previous year. Revenues reached an all-time high of P1.79 billion on the back of a growing outsourcing business.
From only P923 million in 2007, revenues are forecast to grow further to P3.3 billion this year with the completion and integration of its recent acquisitions.
By James A. Loyola
The Philippines Stock Exchange (PSE) has extended indefinitely the suspension in trading of IPVG Corporation`s shares upon the request of the company as it has yet to conclude talks with prospective investors. In a letter to the PSE, IPVG sought the extension of its voluntary suspension under the negotiations and contemplated transactions with third parties have been concluded.
IPVG is talking to several investors who are interested in taking a stake in the company and expects to make a decision regarding two major investors by next week.
In a telephone interview, IPVG chief executive officer Enrique Gonzalez said that the firm has been talking to several prospective investors and two of these are very serious about buying into the company. He declined to give more details regarding the prospective investors due to the sensitivity of the negotiations and pointed out that he is bound by confidentiality agreements.
Last week, the PSE granted the request of IPVG for the suspension of the trading of its stock by seven trading days beginning October 21 until October 29, 2008.
"This request is being made with the regard to certain ongoing negotiations between IPVG Corp. and two major investors in other jurisdictions, one of which is a listed company. The company expects to conclude these negotiations in the next seven trading days," the firm said.
IPVG explained that rumors surrounding these transactions have begun to circulate and the company has had inquiries about these transactions which it cannot comment on, given the confidentiality of the transactions and proposed investors and the stage of the negotiations.
The firm thus sought the suspension in trading of its shares to avoid any misinformation and undue speculation. IPVG assured that it will make the proper disclosure once the negotiations have been concluded and its board has approved the deal, in order to ensure that the investing public will have equal access to the information. The firm needs fresh funds to finance the aggressive expansion of its BPO and IT businesses being undertaken via acquisitions, joint ventures and organic growth.
BusinessMirror - Companies B2
The Philippine Stock Exchange (PSE) has extended the trading suspension of listed information technology firm IPVG Corp.
The bourse heeded the company`s request in its October 29 letter which said that "due to the continuance of our negotiations with third parties, we write to request for an extension of our voluntary suspension until said negotiations and contemplated transaction have concluded."
The suspension will be implemented for an indefinite period of time, until further notice, the PSE said.
IPVG officials, when pressed for details, declined to comment on the negotiations.
The company first sought the suspension on trading of its shares on October 20 and which should have been lifted on October 30. Prior to the suspension, IPVG shares were valued P1.20 each.
"The request is being made with certain ongoing negotiations between IPVG and two major investors in other jurisdictions, one of which is a listed company. IPVG expects to conclude these negotiations in the next seven trading days," IPVG said in its previous letter to the bourse.
Rumors of new investors have begun to circulate and IPVG has had inquiries about these transactions which it cannot comment on - given the confidentiality of the transactions, proposed investments and the stage of the negotiations.
IPVG ended the first half with a net income of P50.51 million and net revenues of P1.79 billon.
"We expect a steady improvement in our bottom-line and profit to revenue ratios as we complete the integration of our acquisitions, finish accounting for all one-time charges in relation to our acquired companies, and increase our margins through revenue growth and maximization of our economies of scale and synergies across our various units, said chief executive officer Enrique Y. Gonzalez.
The company`s business process outsourcing operations delivered revenues of P1.07 billion in the first half, accounting for 60 percent of total revenues. This was attributed to US-based call center Influent which generated sales of P1.03billion.
By Anamika Singh
Cordia Corp, a communications service provider of traditional competitive local exchange carrier (CLEC) and VoIP technologies announced a reseller agreement with IP-Converge (IPC).
By MELVIN G. CALIMAG
The Philippines, playing on home soil, pulled off a surprise when the local team captured the championship at the 2nd RAN Global Tournament 2008, one of the biggest online gaming competitions in Asia.
Team Philippines, represented by Vincent Amado, Carlo Magcalas, MJ Buday, and Kevin Medina, defeated teams from Malaysia, Thailand, Korea, Taiwan, and Hong Kong to win the RGT Championship.
IP E-Game Ventures Inc. (e-Games), the online gaming subsidiary of IPVG Corp., held the tournament in cooperation with Min Communications Corp., and Goldsky Inc., developer and regional distributor of RAN Online respectively.
This is the first time that e-Games held an international gaming competition for RAN Online. RGT was first held in October 2007 at Bangkok, Thailand.
Starting off as underdogs, Team Philippines lost two consecutive matches to Hong Kong and Taiwan respectively. But they rebounded from their defeat to make a resounding comeback that lasted throughout the final matches.
Their last match in the eliminations brought them face to face with the last year’s RGT champions, Thailand, which they were able to surmount easily.
In the semi-final round, the Philippines faced Hong Kong once more, with the match coming to the decision round. Both teams suffered casualties in their ranks, but the Filipinos remained unfazed and barrelled through to finish the job, earning them a spot in the finals. Their last opponent was Team Malaysia.
The Finals required the teams to win the best-offive matches. Team Philippines maintained their hold as they won their first two games. However, Team Malaysia didn’t give in easily as they won rounds 3 and 4.
A decision match was put into place. The RAN Online community cheered their team in the do-or-die round. When the signal was given, both teams rushed to meet each other. The Pinoy team was ahead in terms of numbers and it wasn’t long before the match was finally concluded, with local boys wiping out the rest of their opponent’s characters thus winning this year’s tournament.
"I was really nervous, but I told myself ‘This is it’. I was praying hard that time," team PH’s leader, Vincent Amado, recalled.
"’Get the gold,’ that was our one and only goal that time," said MJ Buday.
The SMX Convention Center Trade Hall 5, venue for the 2nd RGT, reverberated with thunderous cries of jubilation as the Philippine Team won the final leg of the tournament. Even the RGT delegates were taken back by the explosive response of the RAN Online Philippine Community.
Aside from the title of the 2008 RAN GT Champions, the four-man team won $ 5,000. Second place went to Malaysia and $ 3,000 while Team Hong Kong placed 3rd, and went home with $ 2,000.
Min Communications CEO, Kimboss (Kim Byung-Min), was present during the entire tournament, together with Hideki Moriya and Fumiaki Gotoh from Japan’s Gonzo Rosso, and James Huang from Taiwan’s Goldsky Digital Technology, Ltd.
The 2008 RAN Global Tournament saw more than 3,000 attendees from the local community. Aside from the tournament, RGT 2008 also had other online and offline events for the local RAN community.
By Zinnia B. Dela Peña
Information technology and gaming conglomerate IPVG Corp. is in the final stages of discussions with several entities for possible investment in the listed company.
IPVG sought yesterday a voluntary suspension of trading in its shares pending the outcome of negotiations with the interested parties.
The trading suspension took effect yesterday and will end on Oct. 29.
Enrique Gonzalez, chief executive officer of IPVG, said the suspension of trading in the company’s stocks is intended to avoid any misinformation and undue speculation.
“Rumors surrounding these transactions have begun to circulate and the company has had inquiries about these transactions which it cannot comment on given the confidentiality of the transactions/proposed investments and the stage of the negotiations,” IPVG said.
“We will make the proper disclosure once the negotiations have concluded and the company’s board of directors has approved the same in order to ensure that the investing public will have equal access to the information,” IPVG added.
IPVG shares fell 21.05 percent yesterday to P1.20 each share from Monday’s closing price of P1.52.
Gonzalez added the board believes that IPVG’s current share price is well below its intrinsic value.
Gonzalez said the company has received proposals from several parties to invest in IPVG but nothing has been finalized yet. The IPVG board will hold a special meeting next week to discuss the proposals on the table.
In the first half of the year, IPVG reported a 16-percent jump in net profit on record revenues of P1.79 billion, mainly driven by its booming outsourcing business.
Net earnings hit P50.51 million (net of a P45.4-million one-time financing charge due to the acquisition of a 70-percent stake in US-based contact center Influent). Without the one-time expense, IPVG’s net income would have grown 121 percent year-on-year to P95.97 million.
From P923 million in 2007, the company’s revenues are forecast to increase further to P3.3 billion by the end of the year as the firm completes the integration of its acquisitions and finish accounting for all one-time charges in relation to acquired companies.
Early this year, IPVG acquired 70 percent of mobile content developer MegaMobile for P6.4 million.
Written by Honey Madrilejos-Reyes / Reporter
IPVG shares were valued P1.20 after trading was suspended by the bourse at 10:30 a.m. yesterday. Trading will resume 9 a.m. on October 30.
“The request is being made with certain ongoing negotiations between IPVG and two major investors in other jurisdictions, one of which is a listed company. IPVG expects to conclude these negotiations in the next seven trading days,” the company said in a letter to the Philippine Stock Exchange.
Rumors surrounding these transactions have begun to circulate and IPVG reportedly had inquiries about these transactions. The company, however, said it cannot comment on the development, given the confidentiality of the transactions, proposed investments and the ongoing talks.
IPVG ended the first half of the current year with a net income of P50.51 million and net revenues of P1.79 billion.
Information technology firm IPVG Corp has requested Tuesday a trading suspension on its shares amid ongoing business negotiations with two major investors, one of which is also a listed firm.
The company wrote the Philippine Stock Exchange seeking to halt trading in its stock for a period of seven days, within which it is also expected to conclude talks with the unnamed investors.
IPVG said since it still cannot comment on market rumors about the transactions, the trading suspension was necessary to avoid misinformation and undue speculation.
"The company has had inquiries about these transactions which it cannot comment on, given the confidentiality of the proposed investments and the stage of the negotiations," it said.
IPVG assured it would make the proper disclosure once the negotiations have ended.
For the first half of the year, the company posted sturdy profits of P50.51 million, up 16 percent from the year-ago period.
It also registered, for the first time, multi-billion revenues, owing to the strong performance of its outsourcing business following the acquisition of US-based call center Influent.
Last year, IPVG went on a shopping mode and spent over $30 million for five acquisitions.
Company president and chief executive Enrique Gonzalez earlier told reporters that IPVG was still selectively looking at more investments "but it is not our number one priority anymore."
MANILA, Philippines - Information and technology company IPVG Corp. requested the Philippine Stock Exchange (PSE) to temporarily suspend the trading of its shares starting Tuesday, October 21, until 9:00 AM of October 30, 2008.
“This request is being made in regard to certain ongoing negotiations between the company and two major investors," IPVG said in a disclosure to the bourse.
Starting 10:30 in the morning of Tuesday, trading of IPVG shares was already halted, as indicated in the company’s request.
As of Tuesday, shares of IPVG were at P1.20 apiece, P0.32 centavos lower than the previous session.
In 2005, IPVG established two subsidiaries, IP Converge Data Center to focus on its information and telecommunications initiatives, and IP E-Game Ventures Inc. to pursue its online computer games business.
In late August, I-Play Online Games Inc.—a joint venture between IP E-Game Ventures Inc. and GMA New Media Inc. (GMA-NMI)—secured the license to sell, manage, and provide technical and customer support to users of a real-time online game based on the National Basketball Association (NBA).
A subsidiary of GMA Network Inc., GMA NMI is the parent company of Media Merge Corp., the entity which owns and runs GMANews.TV. - GMANews.TV
By Alexander Villafania
RAN Online is one of the online games published in the Philippines by IP e-Games.
The Philippine team is composed of Vincent Van Amado, Carlo Angelo Magcalas, Martin Joseph Buday and Kevin Medina. They won US$5,000 (P237,400) in cash prize.
The RAN Global Tournament 2008 was held at the SMX Convention Center in Pasay City. It was the first time the Philippines hosted the said event but it was the second RAN Global Tournament
IP e-Games Vice President for Marketing Ed Pasion said that the team to beat for this year was defending champion Thailand. Surprisingly, Thailand did not make it to the final three.
Pasion noted that the Philippine team lost its first two matches before recovering to get into the finals. He credits the team’s consistent practice sessions since Domination in April, e-Games’ annual gaming event.
Pasion said they will start the next round of preliminaries in January, leading to the next RAN Online Global Tournament in 2009.
As with their selection system this year, Pasion said the team set up will be chosen through regional eliminations and the top four players will represent the Philippines for the next global tournament.
The Malaysian team won second place and took home US$3,000 (P142,000), while the Hong Kong team won third place and US$2,000 (P95,000).