Lucio Tan Jr. is now MRC Majority Shareholder

In a disclosure sent to PSE today 07 January 2010, MRC disclosed that Mr. Lucio Tan Jr. is now the majority shareholder of the company. What lies ahead is the question? If LTJ really intends a power plant it needs more money than the existing MRC's declared common shares. Next question, where to get the money? Try to answer that question and you'll know why I think MRC journey is not yet over...

MRC Confirms Deal with Lucio Tan Jr.

Now the rumor is finally cleared. Last night in ANC's Business Nightly hosted by Ricky Carandang, Mr. Benjamin Bitanga, a majority shareholder of MRC Allied Industries, confirmed that they are in talks with Lucio Tan Jr. for a P3-billion deal on a proposed power-generation project. They are still in the middle of negotiations to determine the final valuations/agreeemnt that's whyMr. Bitanga is still mum about the details.

I'm so lucky I met you MRC!

Indeed, when there is smoke there is fire. After two days of denying the issue, the company finally made an official statement which might accelerate MRC to an even higher position. I guess it will reach the ceiling again at today's PSE trading. Here's an excerpt from the letter/disclosure issued to PSE dated 06 January 2009:

Yes, we confirm that there is an ongoing negotiation with Mr. Lucio Tan Jr. regarding a possible Joint Venture that will involve acquisition of a power plant. No other details are confirmed as of this time.

And to borrow from my fave Square Heads song, "I am so happy I met you (MRC)..."

MRC is this Month's Wonder Stocks

I wish more power to MRC and to people behind it. I wish good health, fortune, and healthy sex life to the jockeys. I wish they will do more of what they did since January 04, 2009 to make more people happy. I wish they can sustain the momentum until MRC reaches its target price of 1 pesos or even beyond that.

What's with all these wishes? Well, as expected MRC performs strongly in today's Philippine stocks trading. I'm very fortunate to buy at the low before it went an upward trend. Today it closed higher (again) at 0.75 or 10% up despite continuous denial from the company on LTJr entry. Traders know very well that whenever there's smoke, there's fire.

I finally wish for a fire!

MRC Strikes Again!

In Philippine stocks today, MRC does another rally by jumping as high as 46% before settling to its closing price of 0.67. It's a wild chase and luckily I made a little money by selling some of my low-performing stocks to accumulate more MRC. While the chase continues, the company issued another disclosure to PSE denying the rumor of Lucio Tan Jr. entry in MRC board. Maybe this disclosure triggered the minor correction and slowed down the rally. Nevertheless, I know many lucky traders out there who persistenly join the chase were very happy right now!

What's with MRC? (Part 2)

In the compelling saga that we'd call MRC journey, the company issued disclosure to PSE dated 04 January 2010 washing their hands over the unusual price movement of the stock yesterday. They said they have nothing to do with it. Meanwhile, positive news and buzz start to come out which may accelerate MRC movement to an even higher position at today's trading. Another good sign is the strong rally made by the US market.

And we know better the equation: good news + strong Dow = money money money.

What's with MRC?

In Philippine stocks today, MRC rallied to a 50% increase.

It opened at 0.41 and climbed all the way to the ceiling price 0.54, making it the first top gainer Philippine stocks of 2010. I was able to buy a little volume at one of its highest position but I bet more rally will follow the coming days. At its 0.43 position, I already told my stock buddy to watch out but I was chickened a little bit due to losses I made last year. Too bad, because just minutes after, it climbed all the way to its peak price. And when I'm all set to buy, my broker's online system went offline. Bad luck!

Anyway, I managed to google some helpful information on MRC or MRC Allied Industries. Just read them and buy at your own risk:

• Money-Go-Round says Lucio Tan Jr. to join the MRC board
• PSE Buzz says Lucio Tan Jt. bought MRC